Wilson Joins Arvest Board of Directors in Southwest Oklahoma

Wednesday, July 27 at 03:35 PM
Category: Arvest Community News

Arvest Bank in Southwest Oklahoma would like to welcome Randy Wilson to its board of directors. Wilson joins the board from the Duncan, Okla., area offering a significant community and business influence to serve in his new role.

A native of Duncan, Wilson attended Duncan High School and then entered the construction industry. Wilson has been in the construction industry for 38 years and resides as the chief executive officer of WW Builders Inc.

A community supporter, Wilson serves as a Duncan Enhancement Trust Authority (DETA) advisor and Duncan Area Development Trust Authority (DAEDF) member. Wilson is involved in countless notable construction projects in the area.

Wilson attends Marlow First Baptist Church. He and his wife, Aleta Wilson who is employed as a teacher at Marlow Public Schools, reside in Duncan and they have five children: Brian Wilson, Clay Wilson, Mitch Wilson, Karsen Baker and Kale Baker. 

Wilson enjoys traveling and spending quality time with his family. Arvest Bank is excited to have Wilson join the board of directors.

Tags: Oklahoma, Southwest Oklahoma

Arvest Bank Recognized By SBA as Top Lender in Arkansas

Wednesday, July 27 at 12:10 PM
Category: Business Banking

For the second consecutive year, Arvest Bank is pleased to be recognized as a top lender in Arkansas by the SBA.

LITTLE ROCK, Ark. - The United States Small Business Administration (SBA) recently recognized Arvest Bank as the 2016 U.S. Small Business Administration Arkansas District Top 7(a) Lender of the Year.

The designation is based on the number of loans secured during fiscal year 2015. This is the second consecutive year Arvest has been recognized for this achievement.  

“Small businesses greatly contribute to the success of local communities and our national economy as a whole,” said Jason Warren, Business Banking Manager for Arvest Bank in Little Rock. “We are honored to be part of the success of these entrepreneurs by providing them with banking solutions that not only help get their businesses started, but also help them grow and reach the financial goals they have set for their companies.”

In addition to the bank’s accomplishments during fiscal year 2015, Arvest was recognized by the SBA as the No. 1 SBA lender in Arkansas for the second quarter in fiscal year 2016. 

According to the SBA, small businesses create almost two-thirds of net new jobs every year and employ more than half of all Americans. Fiscal Year 2015 was a record year in lending for the SBA, which helped provide almost $33 billion in loans through its 7(a) and 504 loan programs. The 7(a) loan program is a general small business loan for start-up or existing companies. Small businesses apply for a 504 loan to finance fixed assets such as real estate and equipment.  

The SBA helped create or retain more than 680,000 jobs nationwide during the 2015 fiscal year.

Tags: Arvest Biz, Business Banking, Press Release, SBA.gov

Friday Financial Forum July 29 in Bartlesville, Okla.

Tuesday, July 26 at 05:15 AM
Category: Arvest Community News

Join us Friday, July 29 at 10 a.m. for our Friday Financial Forum. We will meet at the Friday Forum Room at Arvest's East Side Branch, located at 4225 S.E. Adams Rd. in Bartlesville, Okla.*

This week’s speaker will be Chuck McCauley, superintendent of Bartlesville Public Schools. Mr. McCauley is in his 24th year in education, with the last fifteen years in Bartlesville. He has served as a teacher, coach, athletic director, assistant principal, building principal, human resources director, curriculum director, secondary schools director and was recently named BPS superintendent effective July 1.

McCauley graduated from Northeastern State University with a bachelor’s degree in 1992. In 2001 he earned his master’s degree from Southern Nazarene University. 

His wife, Jennifer, teaches mathematics at Central Middle School. Their son, Mason, will begin his second year at William Jewell College where he is studying business and participates on the Cardinals swim team. The McCauleys are members of Bartlesville First Church.

In his free time he enjoys spending time with his family, reading and running. He has completed one marathon and two half-marathons in the last 18 months.

What you can also expect at the event:

  • Information: Community leaders share topical, local and state information (Sen. John Ford, Rep. Earl Sears & Rep. Travis Dunlap) 
  • News: "The Scoop"  all about business and community happenings in Bartlesville (Billie Roane, Arvest Bank) 
  • Stock Report & Economic Update: Josh Randolph**, Arvest Wealth Management 
  • Hilarious Anecdotes: Jim Bohnsack, Arvest Bank

Each week brings a few surprises! Invite a friend to enjoy refreshments and hear about what’s going on in the Bartlesville area. If you have any questions or would like to be included on the invitation email list, please contact Billie Roane at (918) 337-4358. We look forward to seeing you there!

Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

**Josh Randolph - Oklahoma Insurance License #122041

Tags: Bartlesville, Community Support, Oklahoma

What is a Charitable Remainder Trust?

Monday, July 25 at 09:30 AM
Category: Personal Finance

 A charitable remainder trust is a tool for dividing your wealth between private and philanthropic beneficiaries. Private persons — yourself, you and your spouse, other family members, there are no restrictions — receive the income from the trust. The trust may last for a set number of years, or for the life of an income beneficiary, or for the joint lives of more than one beneficiary. When the trust ends, the charity receives all the remaining assets. 

The income from the trust is determined under one of two formulas. With a charitable remainder annuity trust, a specific dollar amount is paid every year to the income beneficiary, regardless of what happens in the financial markets. The alternative is a charitable remainder unitrust, from which a specific percentage of the trust’s value is paid out each year. The advantage of the annuity is that it can’t go down. It is an income stream that the beneficiary can plan on receiving. The advantage of the unitrust is the amount of income will go up over time as the value of the trust assets goes up. That offers the possibility of inflation protection. 
Income and gift tax charitable deductions are available when the charitable trust is funded, because such a transfer is irrevocable. Another important benefit is tax-free diversification of concentrated holdings, or tax-free conversion of a valuable asset into an income stream. When an appreciated asset is transferred to the charitable trust, the tax deductions are determined by full fair market value. If the trust sells the asset, there is no tax on the capital gain—in effect, the capital gains tax is forgiven. Example: The owner of a Stradivarius violin needed to transform the value of the instrument into his retirement income. He did so by transferring the violin to a charitable remainder trust, naming himself as the income beneficiary. 
See your tax advisors to learn more. 
Article courtesy of Merrill Anderson. (April 2015) © 2015 M.A. Co. All rights reserved.

Find your local Arvest Trust Advisor to learn more.

Tags: Financial Education, Retirement

Online Banking with BlueIQ™ Updates Here

Thursday, July 21 at 08:05 AM
Category: Arvest News

Because of your valuable feedback regarding Online Banking with BlueIQ™, we’ve made a number of updates which are now live. 

Most notable updates include:
  • We removed “This Month’s Status” which displays “Money In,” “Money Out” and the “Difference” from the Dashboard tab.
  • The Money Movement tab is renamed BillPay/Transfers and includes a number of other enhancements. Check out the specifics! 
  • “Print” buttons added to make it easier to print a single transaction (including the front and back of a check on a single page) and BillPay confirmations. 
Other updates include:
  • The “Manage” and “Plan” buttons moved near the top left of the page on the Dashboard tab, and appear as menu choices for easier usage. 
  • Checked boxes now appear when you select “All Accounts” on the Transactions tab. This allows users to more clearly choose in which accounts they want to see transactions and running balances.
  • “Recent Transactions” changed to “Recent Transactions For All Accounts" on the Dashboard tab. 
  • The Accounts tab renamed Accounts/e.Statements.
  • Wording added to the top of the Accounts/e.Statements tab to make e.Statements easier to find. 
  • “Go to Top” button added to screens where scrolling down is an option.
If you have questions about these updates or any other features of Online Banking with BlueIQ™, check out the user guide, call customer service at (844) 225-8347 or visit your local branch.
We are also in the process of developing additional enhancements that will go live later this year. We’ll announce these enhancements on social media and/or within Online Banking with BlueIQ™ when they’re live. We appreciate your patience as we fine-tune your online banking experience.
Tags: Online Banking with BlueIQ™

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