Celebrating Hood's 40th Anniversary in Muskogee, Okla.

Friday, March 24 at 05:10 AM
Category: Arvest Community News

Lender in Muskogee, Okla., has 40 years of banking experience.

MUSKOGEE, Okla. – Arvest Bank would like to invite its customers and community members alike to join its associates in celebrating the 40-year career of Sharon Hood.

Hood, a consumer lender at the Muskogee branch at 230 W. Broadway St., will be honored at a reception there from 11 a.m.-2 p.m. on March 31.

Beginning her career with what was then the largest locally-owned bank in Muskogee, Hood held several positions, including bookkeeper and secretary-treasurer. When that bank was sold in 1993, Hood shifted to a customer service role that included opening accounts for new customers.

There were a few other bank sales and mergers before Arvest bought numerous Bank of America locations, including the branch Hood called home in Muskogee. At that time, she was a personal banker and assistant vice president. Since that transition, Hood has worked as a consumer lender and said helping her clients with their loan needs has been one of the best and most satisfying jobs in her career.

Hood also has enjoyed being involved with United Way and Arvest’s 1 Million Meals campaigns, among many civic activities, and has served her church’s children’s ministry and music program. She and her husband, Mikel, have four children and four grandchildren.

Tags: Associates, Oklahoma, Press Release, Tulsa

Conversations from the Top in Kansas City April 5

Friday, March 24 at 04:05 AM
Category: Arvest Community News
Tami Greenburg, CEO of Ronald McDonald House, will speak at our third event of the 2017 Conversations from the Top series which is a moderated fireside chat with executive women in leadership in Kansas City. 

Tami will share her wisdom on April 5, 2017, 11:45 a.m. - 1:00 p.m. at Central Exchange Downtown (1020 Central., Kansas City, Mo.). Registration* is required.

In the Conversation from the Top series, you’ll hear inspirational stories from women who have faced challenging issues as they worked their way to the top of their field. They will share insights about their journey and give you things to think about in how you can achieve your own goals. 
March’s speaker, Tami, has served as CEO of Ronald McDonald House Charities of Kansas City since July 2015. Previously she served in leadership roles with the National MS Society and United Way of Greater Kansas City. Her earlier nonprofit experience includes roles in the HIV/AIDS arena and in child welfare.
Tami has a bachelor’s degree in psychology from Wheaton College in Illinois, and a master’s degree in social work from the University of Kansas. She is a 2007 graduate of the Centurions leadership development program of the Greater Kansas City Chamber of Commerce, and served for two years on the Centurions Alumni Board. In 2013 she completed the Kansas City Tomorrow program of the Civic Council of Greater Kansas City.  
In 2013-2014 she served as a member of the inaugural Mayor’s Challenge Cabinet in Kansas City. Mo., and chaired the Resources Committee. Tami was profiled in the Kansas City Star’s 2013 Thanksgiving cover story, “Saying thanks in 40 ways,” recognized as a 2015 Woman of Influence by Kansas City Business magazine and recognized as a 2015 NextGen Leader by the Kansas City Business Journal. She was a member of the Active Living Task Force for the Healthy KC Initiative, and has volunteered in a variety of organizations around Kansas City.

She currently serves on the KCMO Downtown Council and the Village Presbyterian Church Mission Committee. Tami is a new member of the Chamber of Commerce’s Executive Women’s Leadership Council and is honored and humbled to have received the Centurions 2017 Bernard Powell Award.   

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

Tags: Community Support, Kansas City

Fayetteville Chamber Style Show April 28 in Fayetteville, Ark.

Thursday, March 23 at 06:45 AM
Category: Arvest Community News
Join us Friday, April 28 at 11:30 a.m. for lunch and Style Show. The event will be held at The Chancellor Hotel located at 70 N. East Ave. in Fayetteville, Ark.

Local boutiques, independent designers and several stores from the Northwest Arkansas Mall are participating. Two of Fayetteville’s newest non-profit boutiques – Love, Hope and Cure Designs and Beautiful Lives Boutique – will be featured.

Starting this year, the theme of the show will be "style of leadership." In honor of this theme, the first ever Sarah Jessie Young Award will be presented to a remarkable woman who is an outstanding leader in our community. Sarah Jessie Young was one of the first female business owners in Fayetteville. Young opened her photography studio in the late 1800s.

Event Information:
  • Vendor Booths: 11 a.m.
  • Lunch & Show: 11:30 a.m.
Ticket Information:
  • Tickets: $50 per single ticket
  • Tables: $350 (seating for 8)
Tickets can be purchased on the Fayetteville Chamber of Commerce website* or by calling (479) 521-1710. Invite friends and come join us once again for great fun, food, fashion, door prizes and swag bags.
If you would like more information, please contact Jennifer Irwin at jirwin@fayettevillear.com or (479) 521-1710. 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. 

Tags: Arkansas, Community Support, Fayetteville

As Credit Cards Enhance Rewards, Consumers Advised to Comparison Shop

Wednesday, March 22 at 09:15 AM
Category: Arvest News

Did you know 25 million credit card holders have held the same credit cards for at least a decade?

LOWELL, Ark. – Consumers routinely search for the best price or the best deal when making a long-term financial commitment – from automobiles to cable companies to phone carriers. They don’t, however, tend to comparison shop once they have committed to a credit card.

A report by creditcards.com* shows that some 25 million credit card holders have held the same card for at least a decade, and another 20 million have never switched to a different creditor. This, despite the emergence of rewards programs that offer consumers robust benefits. 

Among the most popular perks offered through reward programs are cash-back options and bonus rewards. When offered, cash-back and other reward options can put extra money in the pocket of cardholders. Cash-back benefits can be applied as a credit on a future statement or deposited electronically in the customer’s bank account. 

Some financial institutions offer bonus opportunities such as providing customers with as much as triple rewards during certain times throughout the year, when they spend a particular amount on their card or when they charge specified items such as groceries or gas. 

More than half of consumers who did switch to a new credit card made the change because of a better rewards program, according to a creditcards.com* survey from 2015.

A rare and competitive offering among a handful of institutions is a rewards program that touches every level of credit cards. From a classic card to the platinum level, a rewards program could be in place, though the rewards may vary.

In addition, card issuers are becoming increasingly competitive by eliminating various fees, such as annual rewards program fees and balance transfer fees, and increasing the amount of control cardholders have at their fingertips.

One factor that will always get the attention of cardholders is interest rates. An individual’s improved credit score could mean they are eligible for a lower rate on their credit card. That provides another option for saving money and another reason to evaluate and compare programs. 

The Federal Reserve anticipates additional increases in interest rates later this year. With that change, every percentage point and every rewards option could affect consumers’ wallets in one way or another.

The bottom line for consumers is that, with the emerging new benefits programs offered by credit card issuers and the expectation of a rising rate environment, comparison shopping for the best credit card for their particular needs is becoming more important than ever.

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

Tags: Arvest Flex Rewards™, Credit Cards, Financial Education

Small Business Loans: What Does Your Bank Want to See?

Wednesday, March 22 at 07:05 AM
Category: Business Banking
Starting a small business is no easy feat for a multitude of reasons, and one of the largest hurdles for many entrepreneurs is securing funding. The 2016 Kauffman Index of Startup Activity* is a comprehensive indicator of new business creation in the United States and shows start-up activity continued to gain momentum in 2016, following the upward trend that began last year. In short, the latest recession is behind us, new business activity continues to grow and these new ventures need funding. Your local bank can be a great resource to help finalize your business plan, and put you on the road to securing the money you need. Arvest Bank shares three things entrepreneurs need to stand out to potential lenders. 

1. A thorough, yet realistic, business plan 

A business plan is a crucial part of an entrepreneur’s lending ask, and banks will want to see a comprehensive plan for the creation, operation and success of the business. An industry analysis is needed to determine if a prospective company is in tune with the needs of the area, and if there is enough market share available to be profitable. 

The business plan should also include a market analysis of the prospective customers and their spending habits. Also, who are the competitors in the market and what is your businesses point of difference that will enable you to be competitive? 

2. Honest financial projections 

Realistic financial projections are a necessary point that banks will review intently. Your financial projections should not be inflated beyond industry averages. Bankers will easily recognize this “stretching” of the financials, and would rather see that you are realistic about the time and commitment needed to grow a business. A good place to start is to assess industry standards and see how your company would compare to the current performance of businesses already in operation. In addition to profit and loss projections, banks will want to see a plan for anticipated cash flow, as timing and delays play a big role in managing the finances of an organization. 
Financial institutions may also prefer that you list a secondary source of repayment in the event that your business does struggle financially. Banks have to protect their assets with every loan, so proof of savings, collateral, or a strong guarantor will strengthen your request for funds. 

3. Stakeholders and business resources 

When a plan is under review, proof that the entrepreneur has stakeholders who know the business, and resources to guide them, is extremely beneficial. Providing a lender profiles of the business partners, investors, and management team to ensure that the business is in the hands of people with a history of successful experience can also be an advantage. Listing resources such as the Arkansas Small Business and Technology Development Center at UALR also demonstrates to lenders that you have done research and know where to turn for guidance as you grow your business. 

Entrepreneurs should know their industry, create a detailed plan for reaching their targets, outline the financial plan for success and have a team of players ready to work to make it all happen. Banks and lenders want to see their small business clients thrive, and will work with them to make sure the outcomes are successful for everyone. 

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

Tags: Arvest Biz, Business Banking

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