Arvest Blog

Preparing for Major Financial Events

Tue, 18 Jun 2013 13:10:00 GMT

Many life events are directly related to (or cause) financial events which occur at the same time. Preparing for the financial aspects of these events can help to reduce the stress which often accompanies major changes. Here are some major financial events you may encounter.

Remodeling your home or making major repairs. Home equity loans have become a major source of funds used when making improvements to homes. The application process is usually easy and inexpensive with funds available when needed. This helps avoid paying interest on funds you don’t need. Home equity loans usually have attractive interest rates and the interest is tax-deductible. If you are considering a major home improvement, you may want to investigate this source of funds. Arvest is offering a consumer loan special through July 31, 2013, with 2.49 percent APR. Visit arvest.com/249 for details.

Buying a home. Buying your first or new home can be one of the largest financial transactions of your life. Investigating the mortgage options when you start looking at homes can help you focus on a home you can afford and help keep you focused on the home selection and purchase negotiation parts of the process. You may want to talk to a lender to request a pre-qualification letter or at least learn what the current rates are and how much your monthly payments would be for different size mortgages.

Changing jobs. It is seldom easy to change employers. New responsibilities, new co-workers and a new environment can be stressful. In addition, you will probably get a distribution from your old employer’s retirement plan. Once you get that distribution, you have important decisions to make. You must move the funds into another qualified plan or IRA within 60 days to avoid paying taxes on the distribution. You must also make investment decisions. A retirement plan distribution is often the largest single sum an individual ever has to invest at one time. Sometimes, a new employer’s plan can accept transfers as well. If changing jobs is in your near-term future, then investigate your options early to make the transition less stressful.

Retirement. After a career, venturing into retirement brings many changes. Along with Social Security benefits, your existing assets must pay for a major portion of your living expenses. Your living expenses will probably fall somewhat, perhaps by 20 to 30 percent. You will probably want to modify your investment strategies to be more conservative. While you are young and still accumulating assets, it can be easier to absorb a fall in the value of your portfolio because you have time to recoup your losses. During retirement, a significant setback in your portfolio can be troubling. You may want to consider a more conservative asset allocation with more of your funds in cash and shorter-term fixed income investments.

Funding a child’s college education. The cost of a four-year college education is expensive. Annual college costs at private out-of-state institutions can run over $30,000. Even state sponsored schools can be at least half that amount. Paying those college bills can be tough if you do not start saving early. Make time your ally by establishing a regular savings program and taking advantage of some of the new tax-advantaged programs like Coverdell Education Savings Accounts (education IRAs) and Section 529 Plans.

You can’t plan for every major event in life, but it’s wise to plan for the events you can project.

The views of this article are for general information use only. Please contact and speak with a subject expert or your banker when specific advice is needed.

Arvest Bank Reopens in Berryville, Ark. WalMart Supercenter

Tue, 18 Jun 2013 10:05:00 GMT

We are excited to announce to Arvest customers in Berryville, Ark., we recently remodeled our branch inside the Berryville WalMart Supercenter. The new layout draws customers out of the busy retail traffic.

BERRYVILLE, Ark. — Arvest Bank is pleased to celebrate the reopening the location inside the Berryville WalMart Supercenter after an extensive remodeling to make the branch more comfortable for customers to use within the busy retail center.

The popular Arvest Bank site, which was under remodeling construction for 18 days, celebrates its reopening today with a reception and ribbon cutting ceremony with the Berryville Chamber of Commerce.

“The new layout includes a more inviting teller line that allows our customers to walk into more of a lobby setting out of the busy retail traffic,” said Stefanee Sanders, Branch Manager for the location. “And our customers should really enjoy the television screens with messages about current promotions, weather forecasts, stock movements and trivia facts displayed along one wall.”

Other improvements include recessing the Automated Teller Machine (ATM) into the lobby area allowing customers easier access to the ATM.

Getting Your Finances Ready for Your Golden Years

Fri, 14 Jun 2013 11:15:00 GMT

If you're beginning to consider retirement, then you should be seriously thinking about how to ensure your financial life in those golden years will be as comfortable and stress-free as possible. Here are a few tips.

Make the most of your remaining paychecks to save for retirement. How much money you'll need to set aside for retirement — which for many people could last 30 years or more — will depend on a variety of factors. Among them: When do you expect to quit working? Will you continue to earn some income part-time? How much money do you have in savings and pensions? And, what kinds of expenses will you incur for housing and health care?

Because the future is uncertain, it makes sense, while you're still working, to put as much money as possible — 10 to 20 percent of your annual income, if not more — into savings for your golden years. Also make use of employer-sponsored retirement plans (especially if you'll receive matching contributions) and tax-advantaged individual retirement accounts (IRAs).

Try to reduce or eliminate debt. "Another way to save more money now for a more enjoyable retirement later is to cut back on unnecessary expenses," especially if you will need to go into debt to pay for them, said Luke W. Reynolds, Chief of the FDIC's Community Affairs Outreach Section. He said to try to pay off most or all of your credit card balances and other loans to cut down on interest charges and avoid being burdened with repayment during your retirement years.

Develop a plan to stretch your money through a long retirement. "The idea is to determine where your money will come from during retirement, so you won't have to live in fear of running out of money," said Susan Boenau, Chief of the FDIC's Consumer Affairs Section.

For example, consult with the Social Security Administration* or your accountant to learn how much Social Security and pension income you'd get each month if you "retire early" — any time between 62 and your "normal" retirement age — and how much more you would receive if you hold off on retirement. The penalty for starting to collect Social Security payments early can be substantial.

Discuss with a financial advisor how and when to withdraw money from your tax-deferred retirement accounts, such as employer-sponsored retirement plans and traditional IRAs. Also periodically review your retirement portfolio — your mix among stocks, mutual funds, CDs (certificates of deposit), bonds and so on — to be sure it's well-diversified. And as you get closer to retirement, consider a more conservative investment strategy than in the past so you can avoid losses to principal that could mean having to postpone retirement or struggle financially.

If you do not already have a financial advisor, your local financial institution most likely offers personalized investment services and can work with you based upon your retirement objectives and time frame.

The views of this article are for general information use only. Please contact and speak with a subject expert or your banker when specific advice is needed. Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Biz Spotlight: Dog Party USA

Fri, 14 Jun 2013 08:50:00 GMT

Chaddie Platt and Priscilla Kumpe can’t imagine starting a day without some form of canine affection. The owners of Dog Party USA poured their affection for dogs into researching and developing the concept for the award-winning boarding and daycare facility in Springdale, Ark. They say one of the best rewards is seeing affection returned by “clients” as they are dropped off for a time of play and interaction. Wet kisses and wagging tails are applause to the mother-daughter co-owners.

Platt spent a year researching dog daycares and boarding systems before she and her mother, Kumpe, opened Dog Party USA* more than seven years ago at 912 South Maestri Road, Springdale. The result is a state-of-the-art facility with five indoor play areas, two acres of fenced yard for outdoor play, and the best in climate-control technology and contamination prevention. Trained supervisors oversee each of the playgroups, which are divided according to size and temperament.

“There is not another facility in the area with the amount of outdoor and indoor space for play that we have or the number of trained staff on hand each day to supervise dogs while they play,” Platt said. “Plus, we are the only facility in the area that belongs to the International Boarding and Pet Services Association* and subscribes to training from national experts.”

The business also offers dog grooming services and training classes for obedience and Canine Good Citizen* certification. Want to celebrate? They offer birthday parties, puppy showers and “bark-mitzvahs.”

“We invite the public in on a regular basis for events they can attend with their dogs,” Platt said.

Everything they’ve poured into the business seems to be yielding rewards. Dog Party USA has been voted best boarding facility in the area every year since it opened. Those votes came in a variety of publications including Celebrate Arkansas magazine’s very best places to board your pets, Arkansas Democrat-Gazette’s Northwest Arkansas best of the best and Northwest Arkansas CitiScapes magazine’s best of listing.

Just as they strive to provide everything their canine clients need during a stay at Dog Party USA, Kumpe and Platt said they get what they need to help run the business side from Arvest Bank.

“We switched to Arvest Bank a few years ago and they have been very helpful,” Platt said. “Paula Wilson at the downtown Springdale branch always makes sure we have everything we need.”

The views of this article are for general information use only. Please contact and speak with a subject expert or your banker when specific advice is needed. Find articles like this and much more in the online Arvest Biz Center. Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Starting on the Road to Financial Security – Part 2

Thu, 13 Jun 2013 10:45:00 GMT

This is the second part of a two-part series about establishing financial security. Part one discussed what financial security is, why it’s important and establishing financial goals. You can read part one here.

We have established what financial security is and why it’s important. Now we need to dive into the nuts and bolts to actually achieving that security.

Monitor and control your spending
While this task may sound ominous, it does not have to be. Consider breaking it into pieces.

First, you need to know how much you have coming in each month. While you may be earning interest and dividends on savings accounts or investments, let’s just focus on income from your job. Every pay period (weekly, semi-monthly or monthly), you earn a certain amount. However, the check you receive is reduced by taxes that are withheld, your share of employee benefits (primarily health insurance), amounts you contribute to your company’s retirement plan and any other deductions you may have. The amount you have left is your monthly disposable income. That is how much you have to pay your bills and hopefully there will be some left over you can save.

Next, break your expenses into those that are fixed and those you can control. Fixed expenses include rent, parking, other insurance (probably renter’s and auto insurance), utilities and recurring medical costs. You probably have some level of control over most of your other expenses.

Finally, subtract your fixed expenses from your disposable income. That is how much you have to cover your other living expenses and any other spending. To not overspend your income, just make sure you manage your other living expenses and other spending to have something left over each month.

Build net worth
Accumulating net worth takes time and discipline. Here are three ideas that can help:

Contribute to your employer’s retirement plan. If you are eligible for a 401(k) plan, be sure to participate and contribute something. Most plans have some type of employer matching provision where the company contributes money equal to all or some portion of what you contribute. Be sure to understand how your plan works and, if you can, contribute enough so you get the maximum contribution from your employer.
Set up an automatic savings plan. Many employers will automatically deduct a certain amount and send it directly into a savings account at your financial institution. Choose an amount you are comfortable with and let it happen automatically each pay period. If your employer does not offer this, set up a plan with your financial institution so they move that amount from your checking account to your savings account each month.
Save what you do not spend. After you have paid your bills each month, move what is left over to your savings account. You will probably want to keep some funds in your checking account to cover unexpected expenses, but by moving excess funds to your savings account, you will be accumulating assets and probably earning more interest than if you left your excess funds in your checking account.

Establish good financial habits
Here is a list of 13 things to help put you on the road to financial security.

Make sure your financial information and records are organized. For information on what records to toss and when check out this article.
Use direct deposit for your paycheck.
Participate in your employer’s retirement plan and contribute as much as you can.
Set up an automatic savings program.
Prepare a household spending worksheet.
Periodically prepare a personal balance sheet.
Use as few credit cards as possible.
Reconcile your checking account monthly.
Review all your bills and statements as soon as you receive them.
Make credit card payments promptly and pay more than the minimum.
Be sensitive to fees and interest rates.
Build a good credit record. Read about how to do so here.
Learn more about handling your finances by reading personal finance columns in newspapers and personal finance magazines.

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed.

Receive Answers More Quickly and Easily on Arvest.com

Thu, 13 Jun 2013 09:40:00 GMT

A new online tool is now available to help you find answers to banking questions more quickly and easily than before! The Ask Arvest feature is located on arvest.com and is available 24/7 to answer common questions about our products, services and many other topics related to banking with Arvest. The goal is to improve your experience by providing quick access to helpful answers.

What does it do? How does it work?
When you visit arvest.com, you can enter a question into the Ask box at the top right of each page and click the Ask button to search for an answer. The response to the question is returned on a subsequent page, along with related responses and other suggested questions that may also be of interest. You may rate the quality of the answer and either ask another question or choose one of the other suggested questions. The response page also serves as a keyword search result page, providing links to website pages containing similar topics. Ask Arvest will not return answers to any specific questions relating to your balances or other private account data.

The Ask Arvest question and answer system was first implemented in March on Arvest’s welcome page during Arvest’s acquisition of 29 branches. The system helped answer questions posed by these new customers. During the conversion period, Ask Arvest provided more than 20,000 responses to customer inquiries. We are now adding this tool to support the entire arvest.com website!

We believe this tool will quickly prove to be helpful in providing online self-service to you and improve your overall banking experience at Arvest.

Starting on the Road to Financial Security – Part 1

Wed, 12 Jun 2013 12:20:00 GMT

This is the first of a two-part series about establishing financial security.

Reaching a point of financial security is a process which takes time, effort and perhaps some sacrifices. However, the results are worth it. By starting early, you can put time on your side. When doing a few things right from the beginning, you can make the process easier and minimize the sacrifices you may be forced to make later.

Consider reaching financial security to be a project like building a house. You start with a foundation, you add the floors, you put on a roof, you finish the inside and then you move in. Fortunately, you have a long time to build your financial stability, and you can learn the skills and begin practicing them now.

What is financial security?
Financial security consists of several things including:

Being able to afford your current needs.
Having confidence you will be able to afford what you may need in the future.
Enjoying some things you want now, but may not truly need.
Being able to provide the type of financial lifestyle for your family you want.
Having peace of mind knowing you are taking the right steps to reach financial security.

Why is a solid financial foundation important?
You, and you alone, are ultimately responsible for your financial well-being. Your decisions will affect how you live on a day-to-day basis and in the long term. Handling the financial issues associated with starting out, establishing a household and having more responsibilities can be stressful. A solid financial foundation can help you spend less time and effort worrying about your finances so you can devote your time and energy to other important matters like your job, your family and your future.

Build a solid financial foundation
First identify a few very broad goals. Some ideas include:

I want handling my finances to be easy.
I want to be able to enjoy my current financial lifestyle.
I want to know I am making progress toward achieving financial security.
I want to be confident I am doing the right things and not doing the wrong things.

Components of a solid financial foundation

Not spending beyond your means.
Building some financial net worth.
Establishing a good credit record.
Establishing some good financial habits.

Tomorrow, we’ll learn about monitoring and controlling spending, building net worth and establishing good financial habits.

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed.

Spring Cleaning for Your Marketing System

Wed, 12 Jun 2013 11:50:00 GMT

Could your marketing system use a spring cleaning? Most small businesses have marketing “clutter” – materials or information that is no longer used, outdated or no longer relevant. Spring is almost over (although it feels like it just started in the Midwest), but it’s never too late to purge the clutter from your marketing system. Read the full article here on arvestbiz.com.

Planning Your Perfect Summer Vacation

Tue, 11 Jun 2013 10:40:00 GMT

As the days get longer and the weather continues to warm, thoughts turn to the anticipation of making summer memories. Summer and vacation are synonymous, but ensuring those memories are positive requires a bit of advance planning. Read on for some ideas for creating a unique vacation tailored to your interests.

Activities
Decide WHAT you want to do before making any plans. Unstructured outdoor activities like beaching, hiking or camping can be relaxing and inexpensive. What better way to reconnect with each other than being surrounded by the great outdoors. Look into state and national parks or concentrate on a favorite location and do some exploring from there. Be sure to check ahead of special events that may affect your schedule. Have a backup plan if the weather isn't what you anticipate.

Amusement or theme parks are memorable and fun but could be on the pricier side. Be sure to do plenty of research ahead of time to find deals on travel and accommodations, special events schedules and meal options. Following a carefully crafted plan can reduce stress, but be sure to plan for flexibility if things don't go according to plan.

Themed vacations like Wild West, Civil War sites or following in the footsteps of a famous person or group combines time together with an opportunity to learn about something or someone that is of interest to the group. This common interest becomes the foundation on which the vacation is built and stories are later recounted.

Visiting with out-of-state family is a great way to reunite and make lifelong memories. Plan a family reunion, take trips together as a group or just enjoy time together. The time spent together can often be more important than planned activities.

Use the internet, chambers of commerce, travel clubs and word-of-mouth recommendations to do your research. Once you decide what kind of vacation you want to experience, it's time to look into the logistics.

Transportation
Is your vacation a one-stop deal where you hop on a plane, arrive at your destination and don't move until it's time to go home? Or, will you be in your car every day moving from destination to destination? Consider not only how you will get to your destination, but also how you'll move around once there. Car rental, taxis, shuttles and other modes of transportation have the potential to add significant cost to your vacation and may need advanced reservations. Be sure to check into all options before leaving home.

Accommodations
Do you consider the ideal vacation a suite in a four-star hotel or a tent pitched in the wilderness? Will each member of your group need their own space or can everyone sleep together for some family bonding? This is especially important to consider if staying as a guest in someone's home or in shared space like a hostel or hiking hut.

Consider some of these unusual options for accommodations:

Visiting family or friends is an inexpensive option for visiting a different location and has the added benefit of catching up in a relaxed environment. Cooking together and visiting over coffee in pajamas in the morning can't be matched at a traditional family gathering. Just be sure that both sides—guests and hosts—have clearly communicated expectations. The night owl and early bird can get along, but they may have to talk about it ahead of time.
Feel the need to get out of the city? Have a friend who is feeling a bit isolated in his/her home in the mountains? Arrange to swap homes for a week. Even switching with a friend or relative in a suburban home can be fun—the novelty of other people's stuff, along with the fact you don't have any projects to complete in someone else's house, can be very relaxing.
Perhaps you know someone who has a vacation home you can borrow or rent or barter for some time in. If you're handy, then maybe you stay free if you agree to fix the leaky bathtub or paint a bedroom or cleanup the landscape out front. If you're artistic, then you could offer to paint a portrait of the house or land or to decorate a room in the house. Think of your skills and talents, and then get creative in making a proposition.

What's the point?
Once all the arrangements have made and you're on your way, slip yourself into vacation mode. Reflect on what it is you were looking for in your vacation—relaxation, family time, exploration or simply escaping the everyday life—and enjoy the fruits of your labor.

Buying a New vs. Used Car

Mon, 10 Jun 2013 08:05:00 GMT

Nothing beats that new car smell ... except perhaps scoring a great deal on the purchase price! A used car — even just one or two model years older — can cost considerably less than the newest version of the same car and may have more features. There are definite benefits to buying new, and just as many benefits to buying used. Before you embark on your car search, take a practical look at the benefits and drawbacks of buying new or buying used.

Nice and New
New cars will sport the latest and greatest features, newest colors and trendsetting perception. There is no question about maintenance history, prior accidents or driver handling. The euphoric feeling of driving off the lot as the premier owner of this new machine is unmatched ... except for the thought it's no longer new as soon as you drive off the dealer's lot.

The value of a new car drops thousands of dollars the day it is purchased. If you're planning to drive your new car into the next decade and beyond, then depreciation should have little effect on your decision; the value of your car is only relevant if you plan to sell it or trade it in. However, you may want to consider if you are in an accident the value of the car is what the insurance company will use to determine the amount of your payout.

Pondering the Pre-owned Option
Driving off the lot in a used car may not feel as glamorous as piloting a new car, but there are some definite benefits to being patient. For starters, all those bells and whistles that cost a premium in new cars often come standard, or at a considerable cost reduction, in used cars. Insurance premiums will be lower, and if you pay an excise tax in your community, then it will be lower as well.

These cost savings may come with a bit of risk. Buying used means someone else owned it, drove it and, maintained it (you hope). If you know the previous owner, then you may have peace of mind. Be sure to ask for all maintenance records, and have the car checked by a trusted mechanic. Buying a certified pre-owned car from a dealer will include a warranty, but you may also want to have it checked by a professional.

New car benefits

Latest features
Low miles
New car smell!

New car drawbacks

Highest upfront cost
Immediate depreciation in value
Higher insurance premium

Used car benefits

Lower cost; slower depreciation
Shorter loan with lower monthly payments
Step-up opportunity — more bells and whistles for less money
Lower insurance premium

Used car drawbacks

Unknown maintenance and service history
Second-hand; others have driven
Higher miles
Warranty may be limited

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed.

Biz Spotlight: River Valley Floral

Fri, 07 Jun 2013 10:10:00 GMT

River Valley Floral Distributors was established in January 2006 under the ownership of Jim Gaston. However, the business has been in operation in Fort Smith, Ark., since 1990 operating as a branch location of Southern Wholesale Florist. After the retirement of Jim’s parents in 2005, Jim and his brother, Jack Gaston, felt the company would be better served if each store was managed separately under independent ownership.

In the fall of 2007 plans for the long awaited new wholesale house were finalized and the building was completed in the summer of 2008. The following September, River Valley Floral* held its grand opening of the new location which introduced their customers to a more modern, efficient floral wholesaler.

The family’s history in the floral industry, which began in 1896 by Jim’s great-grandfather, J.W. Marshall, served as an inspiration for the showroom’s décor. The walls are lined with giant photographs ranging from the family’s first greenhouses in the early 1900s to a more recent 1971 photograph of Jim, his brothers (Al and Jack) and his sister (Daphne) in front of the first wholesale florist started by their father.

The main showroom has an open design with high walls, special lighting, polished floors and wider aisles between the high shelving which creates the effect of a “superstore warehouse.” The store has two equally impressive coolers. The main cooler holds the majority of the store’s cut flowers and surplus boxes. The receiving cooler stores the decorative greenery while still leaving ample room to receive trucks.

With all the new transitions, the management team has made several changes to better serve customers. Management is utilizing the internet to present specials, daily pricing, product photos, and links to vendors, farms, manufacturers and more. Keeping up with trends and marketing strategies on a daily basis is also an important part of their job. All other departments are stepping up to the plate to make sure River Valley Florist stays on top.

Arvest has been a great working partner with River Valley Floral. Arvest has enabled the floral distributor to grow its credit line and business accounts.

The views of this article are for general information use only. Please contact and speak with a subject expert or your banker when specific advice is needed. Find articles like this and much more in the online Arvest Biz Center. Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

Shed Pounds and Dollars

Fri, 07 Jun 2013 09:25:00 GMT

Home exercise equipment can be a great way to shape up — but only if you use it regularly. Ads promising quick, easy results are selling a line, not a reality. Here are some claims to watch for.

It's quick, easy and effortless.
Whether they're promoting shoes, clothing or equipment, some advertisers say their products offer a quick, easy way to shape up and lose weight — without sound science to back it up. There's no such thing as a no-work, no-sweat way to a fit, healthy body. To get the benefits of exercise, you have to do the work.

We promise to fix your problem areas.
Promises that you can effortlessly burn a spare tire or melt fat from your hips and thighs are tempting, but spot reduction, losing weight in a specific place, takes regular exercise that still works the whole body to burn extra calories.

Look at these before-and-after photos.
They may be "satisfied customers," but their experiences may not reflect the results most users get. And celebrity endorsements? They're no proof the product will work as claimed, either. As for the chiseled models in the ads, is that six-pack the result of the product they're promoting, months in the gym and years of healthy habits, or an altered photo?

What to Do Before You Buy Exercise Equipment
You've done your job and looked at any claims with a skeptical, savvy eye, but you're not quite finished. Before you buy any equipment, here are a few tips to make sure your new gear won't wind up collecting dust.

Start working out.
Don't expect the equipment to change your habits. Are you ready to act on your good intentions? If you're not active already, then start now.

Find the right equipment.
Take a test drive. Before you buy, give different equipment a test drive at a local gym, recreation center, retailer or even a friend's place.

Read reviews.
Check out consumer and fitness magazines that rate exercise equipment to get an idea of how a product performs and whether it's likely to help you achieve your goal, whether it's building strength, increasing flexibility, improving endurance, or enhancing your health. You also can check out user reviews online. Just don't put all your trust in any one review. Try typing the product or manufacturer's name into a search engine, along with terms like "complaint" or "problem."

Find the right price.
Find out the real cost. Some companies advertise "three easy payments of $49.95." Break out the calculator and figure out what you'll really pay. Don't forget sales tax and shipping or delivery charges. Find out about warranties, and whether shipping or restocking fees apply if you decide to send it back.
Shop around. That one-of-a-kind fitness product may be available at a better price from a local store, or you might get a better deal online, but don't forget to factor in delivery costs.

Watch your wallet as well as your waistline when deciding whether or not to purchase home exercise equipment.

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed.

Arvest Supports Great Strides Walk in Little Rock, Ark.

Fri, 07 Jun 2013 08:05:00 GMT

Arvest Bank in Central Arkansas once again participated in the Great Strides, a walk benefiting the Cystic Fibrosis Foundation. This year’s walk took place on Saturday, May 18 at the Little Rock Zoo. With over 700 walkers participating, a new record, the walk raised a staggering $103,000 for cystic fibrosis!

This is the seventh year in which Arvest participated in fundraising for Great Strides, and each year Arvest continuously increases its support of this cause. This year, Arvest contributed over $20,000 in donations, not including sponsorships or personal donations from associates. Arvest Bank has been a proud supporter of the Cystic Fibrosis Foundation* for several years.

Cystic fibrosis is a chronic disease that affects the lungs and digestive system of about 30,000 individuals in the U.S. and 70,000 worldwide. The mission of the Cystic Fibrosis Foundation is to develop the means to cure and control cystic fibrosis and to improve the quality of life for those with the disease.

One of Arvest’s regional managers, Haskell Anderson, is once again the Chair of the Little Rock Great Strides walk. We appreciate Haskell’s leadership and dedication to this worthy cause.

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

Citizens in Gravette, Ark. Help Tornado Victims

Thu, 06 Jun 2013 13:05:00 GMT

Donations for Moore, Okla., tornado victims will be accepted in Gravette, Ark., through Friday, June 7 at Arvest Bank Gravette, Bank of Gravett, Imagine and R & R Solutions. Additionally, donations will be accepted at the parking lot of the Arvest Bank Gravette branch on Saturday, June 8, 8 a.m. – 4 p.m. Thank you to all who are willing and able to donate to the cause!

ITEMS NEEDED:

Food/food related items

Snacks. Single-serving bags of chips, snack cakes and other items that can hold up to warm temperatures and wet conditions.
Sports drinks such as Gatorade and some water.
Paper plates/cups/napkins/disposable utensils

Clean-up items

Tarps
Sunscreen
Work gloves
Contractor-size trash bags
Medical gloves
Bungee cords
Paper towels
Shop towels
Plastic sheeting

Personal items

Moist wipes
Diapers
Formula
Toiletries
Hand sanitizer
Pain reliever

Miscellaneous

Dog food
Cat food
Pet leashes

Kid Friendly items

Color books
Puzzles
Games
Balls

Don’t Become a Target While on Vacation

Thu, 06 Jun 2013 10:25:00 GMT

After much planning, preparing and organizing, you're finally ready for your long-awaited vacation! To ensure the best vacation memories, follow these tips for staying safe before you leave home and while you're traveling.

Before you leave
Make your home look lived in. Put timers on lights, stop mail and newspaper delivery and enlist a neighbor to keep an eye on your house. Leave your itinerary and contact information with a neighbor, family member or both in case of emergency. Make arrangements for your lawn to be mowed and any other routine maintenance to be done. Don't leave a key hidden outside the house — burglars are skilled at finding hiding spaces. And of course, lock all doors and windows.

Go through your wallet and take only those cards you will need for traveling. Pack valuables like jewelry and electronics in your carry-on bag so it will always be with you. Carry a small flashlight with fresh batteries in case of emergency.

Contact your bank and let someone know about your travel plans. Banks monitor for fraudulent card activity, and it’s helpful to know if out-of-the-ordinary use will take place. Make sure your bank has a working email address and cell phone number, too, just in case there’s a problem with an account.

While traveling
Be alert and aware of your surroundings. Don't flash your cash. Use travelers' checks or credit cards when possible.

Attire
Be aware of how you dress — if not in a tourist destination, then you don't want to look like a tourist who might be a target for thieves. Think about what your attire says to those around you. Naïve tourist? Rich guest? Offensive visitor? Especially when traveling in foreign countries, be sensitive and respectable with your wardrobe.

Rental cars
Before pulling out of the parking space, familiarize yourself with the controls. Have a clear understanding of where you are going. Study a map, be sure your GPS is programmed or understand the directions you've been given before you start driving.

Car security
Minimize the fact you are not from the area. Your license plate may give you away as a visitor, but there are steps you can take to stay safe. Be aware of where you park, and consider what the environment will be like at the time you plan to return. The spot you park in at noon may look very different at midnight. Check the front and back seats when getting in the car. Always lock the door as soon as getting in. When leaving the car, be sure to place all maps, guidebooks and other evidence of being a tourist out of sight. Never leave valuables in plain sight.

Hotels
When checking in, ask the front desk associate not to announce your room number; rather it should be written to prevent anyone from overhearing it. Grab two business cards with the hotel name and address; keep one beside the bed so you know where you are if you have to report an emergency, and keep another with you so you can find your way back to the hotel when you go out. Learn where the emergency exits are. Count the number of doors to the exit and write it on the card you leave beside the bed. If there is an emergency during the night, grab the card and your room key. If you're crawling down a smoky hall you'll be able to count the doors to the escape.

Always use the deadbolt lock when you're in your room, especially when showering or sleeping. When you leave your room, leave the TV on and place the "Do Not Disturb" sign on your door. Both give the impression someone is there. If you need your room made up, call housekeeping and request the sign be left in place after cleaning.

Stay healthy
In areas where water may not be purified, drink bottled water and beware of using ice cubes. If you must drink the water, boil it first. Wash your hands often and bring hand sanitizer. Get plenty of rest to keep your immune system strong. If you have allergies to food, animals or plants, be aware of their presence and have a plan for responding to a reaction. Wear sunscreen, protective clothing and sunglasses. Pack an extra pair of glasses or contact lenses in case one gets lost or broken.

Know what your health care policy covers and how it works when you are away from home. Bring phone numbers for your insurance company and any doctors you may need to call while traveling. Bring the regular medications you take at home, and carry a list of the dosage and frequency, and a written description of any medical conditions you have to help medical personnel in an emergency situation. Don’t forget to bring some basics — acetaminophen or ibuprofen, an antihistamine, Band-Aids and antibiotic cream.

Relax and have fun!
With a little advance planning and some common sense while traveling, your dream vacation will become the reality you worked so hard to plan. Enjoy!

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed.

Arvest Mortgage Reaches $1 Billion In Record Time

Thu, 06 Jun 2013 10:05:00 GMT

Arvest Mortgage Company originated more than $1 billion in new mortgage loans in the first part of 2013 making this the first time Arvest has achieved this milestone so early in a year. The success is a sign of the strengthening housing market and robust financing environment.

FAYETTEVILLE, Ark., — Arvest Bank today announced, for the eleventh consecutive year, Arvest Mortgage Company has originated more than $1 billion in new mortgage loans. Achieving this milestone earlier in 2013 than any previous year indicates both growing strength in the housing market and a robust environment for refinancing.

“We have reached $1 billion in mortgage loans this early in the year because of a few different factors. Our hard-working and knowledgeable associates are the top reason for this success,” said Steven Plaisance, President and Chief Operating Officer of Arvest Mortgage Company. “Additionally, the increase in purchase money transactions we saw during the first quarter, along with the continuous low mortgage rates that have encouraged homeowners to refinance, allowed us to reach this milestone quickly.”

In a 13.8 percent increase from last year, the company originated more than $624 million in new mortgage loans in the first quarter of 2013. In total, mortgage loans at Arvest increased 7.8 percent during the first five months of 2013 over the same time period in 2012. Mortgage refinancing accounted for 56.7 percent of that total increase.

2012 was a record-breaking year for Arvest Mortgage servicing portfolio, reaching approximately 62,000 loans. The outstanding balance of these loans grew from $6.3 billion in 2011 to $7.1 billion in 2012, or an increase of 12 percent in the value of loans being serviced.

Arvest is unique among local lenders in that it services 99 percent of its mortgage loans. This means that customers make their payments to Arvest and work with Arvest on any needs they have after their loan closes.
Plaisance continued, “We pride ourselves on providing customers with service after the sale because we retain servicing on 99 percent of the loans we make. We are truly partners with our customers, and they can still call us years into their mortgage with any need related to their loan.”

Be Prepared if Disaster Strikes

Wed, 05 Jun 2013 11:40:00 GMT

Home is where most people feel safe and comfortable. But sometimes before a hurricane, flood, tornado, fire or other disaster strikes it's safest to pack up and go to another location.

When it comes to preparing for situations like weather emergencies, financial readiness is as important as a flashlight with fully charged batteries. Leaving your home can be stressful, but knowing your financial documents are up-to-date, in one place and portable can make a big difference at a difficult time.

Here are some tips for financial readiness in case of an emergency:

Conduct a household inventory. Make a list of your possessions and document it with photos or a video. This could help if you are filing insurance claims. Keep one copy of your inventory in your home on a shelf in a lockable, fireproof file box; keep another in a safe deposit box or other secure location.

Buy a lockable, fireproof file box. Place important documents in the box; keep the box in a secure, accessible location on a shelf in your home so you can "grab it and go" if the need arises. Include the following:

Household inventory
List of emergency contacts, including family members who live outside your area
Health insurance cards or information, and copies of current prescriptions
Policy numbers for auto, flood, renter's or homeowner's insurance, and a list of telephone numbers of your insurance companies
Copies of other important financial and family records (or notes about where they are) including deeds, titles, wills, birth certificates, marriage certificates, passports, and relevant employee benefit and retirement documents. Except for wills, keep originals in a safe deposit box or some other location. If you have a will, then ask your attorney to keep the original document.
List of phone numbers or email addresses of your creditors, financial institutions, landlords and utility companies (sewer, water, gas, electric, telephone, cable)
List of bank, loan, credit card, mortgage, lease, and investment account numbers, as well as backups of financial data you keep on your computer
Social Security cards
Extra set of keys for your house and car, and a key to your safe deposit box
Small amount of cash or traveler's checks

Consider renting a safe deposit box for storage of important documents. Original documents to store in a safe deposit box might include:

Deeds, titles and other ownership records for your home, autos, RVs or boats
Credit, lease and other financial and payment agreements
Birth certificates, naturalization papers and Social Security cards
Marriage license/divorce papers and child custody papers
Passports and military papers (if you need these regularly, you could place the originals in your fireproof box and a copy in your safe deposit box)
Appraisals of expensive jewelry and heirlooms
Certificates for stocks, bonds and other investments and retirement accounts, trust agreements,
A copy of your will, living wills, powers of attorney and health care powers of attorney, insurance policies
Home improvement records and household inventory documentation

Choose an out-of-town contact. Ask an out-of-town friend or relative to be the point of contact for your family, and make sure everyone in your family has the information. After some emergencies, it can be easier to make a long-distance call than a local one.

Update all your information. Review the contents of your household inventory, your fireproof box, safe deposit box and the information for your out-of-town contact at least once a year.

You may not be able to prevent a natural disaster or fire destroying your home. However, having your financial and personal information safe and accessible can make the recovery much easier.

The views of this article are for general information use only. Please contact and speak with a subject expert when specific advice is needed.

Arvest Shows Over $460 Million in Agricultural Loans, 11 Percent Increase Over Previous Year

Wed, 05 Jun 2013 11:20:00 GMT

Arvest Bank ranked 27th nationally in American Bankers Association's list of 100 largest farm lenders. Arvest shows over $460 million in agricultural loans, an 11 percent increase over the previous year.

FAYETTEVILLE, Ark., — Arvest Bank is one of the leading bank lenders to U.S. agriculture, according to the American Bankers Association’s (ABA) list of the top 100 farm lenders. The bank ranked 27th nationally with approximately $462 million in agricultural loans at the end of last year according to the American Bankers Association annual list of 100 largest farm lenders. This compares with $415 million in total farm loans outstanding for Arvest in 2011.

In the regions Arvest operates in, we have a number of customers who make their living in the agricultural industry. Many Arvest associates have backgrounds in agriculture also, so it’s only natural we focus on providing farmers with multiple types of loans, such as SBA and FSA. We want to make sure we have the expertise agribusiness people require to be profitable. We’re thrilled to be able to partner with so many agriculturally-based businesses and customers in our communities.

Traditionally, people may only think of Farm Credit or the USDA Farm Service Agency (FSA) when it comes to farm lending, but banks, like Arvest, play a large role as well. The 2012 ABA Farm Bank Performance Report* stated the U.S. banking industry is the nation’s most important supplier of credit to the agriculture industry, providing more than 50 percent ($141 billion) of all farm loans.

Agricultural lending is an area in which Arvest continues to experience significant growth. Since 2006, total farm loans at Arvest (farm production loans plus farmland loans) have more than doubled. The bank showed $227 million in farm loans in 2006, and approximately $462 million in 2012. Since 2006, total farm loans made by all banks have increased 67 percent from $49.1 billion in 2006 to $81.8 billion in 2012 according to the 2012 ABA Farm Bank Performance Report.* Six percent of Arvest’s total loan portfolio is farm lending.

Arvest provides financing solutions and support for many specialized areas of agriculture including dairy, greenhouse/nurseries, livestock, grain, field crops and their related industries such a food processing, packing and shipping, yet unlike Farm Credit and FSA, the bank can offer complete banking services to its agri-lending clients. From a livestock loan program for 4-H and FFA members, to real estate loans and checking accounts, Arvest can provide customers with total banking services, all with convenient locations and hours.

Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.
Blog updated 6/10/13.

Is Your Business Experiencing a Power Outage?

Wed, 05 Jun 2013 09:55:00 GMT

When it comes to the people that power your business, if they lose their charge, your business pays the price. If you’ve experienced a power outage or are hoping to avoid one, find out how to keep the power on in your business – or restore it – using four tools. Read the full article here on arvestbiz.com.

Fort Smith, Ark., Employees Fire Up the Grill for Citi Trends

Fri, 31 May 2013 12:10:00 GMT

Arvest Bank in downtown Fort Smith (816 Garrison Ave. in Fort Smith, Ark.) has been working with Citi Trends over the past four years to help their associates with banking needs. Citi Trends is a retail clothing chain which carries name brand and non-name brand clothing at discount prices. Arvest starts an account for Citi Trends’* new hires who currently do not have a banking relationship. Arvest has been working with these customers to fill all their banking needs and help to establish lifelong customers.

Each spring the Arvest branch in downtown Fort Smith collaborates with the management of Citi Trends to host a picnic for over 175 of Citi Trends’ employees. The day is filled with lots of fun and great food from the Arvest grill. This year Arvest’s lending team hosted a seminar discussing ways to protect and build credit, and over 70 Citi Trends associates attended the lecture.

This event is a great way for the Arvest branch to show appreciation for the relationship with one of the area’s largest employers. The branch looks forward to participating and working with Citi Trends for many years to come.

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