Arvest Receives Multiple ‘Best of’ Honors in Annual CitiScapes Poll

Wednesday, December 12 at 08:00 AM
Category: Arvest News

CitiScapes Magazine touts its annual “Best of Northwest Arkansas” feature – released each December – as one of its most-anticipated traditions.

Likewise, we here at Arvest Bank are always eager to check out the results of the lifestyle publication’s ever-popular readers poll. This year was no different, and Arvest is proud to have received multiple honors from the readers of CitiScapes.

In addition to being selected as one of five financial institutions in the “Best Bank” category, Arvest also received the following honors:

  • Arvest Wealth Management, “Best Investment Firm”
  • Arvest Bank – Mortgage Division, “Best Mortgage Services”

Additionally, WACO Title Company, an Arvest affiliate, was chosen “Best Title/Abstract Company.”

Arvest sincerely thanks those who voted in the poll, and thanks CitiScapes for celebrating so many of the people, places and companies that make Northwest Arkansas one of the best places to live, work and play.

Tags: Arkansas, Arvest, Arvest Wealth Management, Mortgage, Northwest Arkansas
 

Arvest Skyline Report: Commercial Real Estate Vacancy Rate Increases

Wednesday, August 29 at 03:00 PM
Category: Arvest News

Arvest Bank has released Skyline Reports on commercial real estate in Northwest Arkansas for the first half of 2018.

During the first half of 2018, the overall vacancy rate for commercial real estate increased to 10.8 percent, up from 9.7 percent at the end of 2017. This increase was the result of 421,692 square feet of negative net absorption across all types of commercial space.

The office submarket demonstrated continued strength, as 134,688 square feet of new office space was added while 165,224 square feet was absorbed, leading to the office vacancy rate being unchanged from the second half of 2017 at 9.1 percent. Researchers at the Center for Business and Economic Research (CBER) at the Sam M. Walton School of Business at the University of Arkansas specifically noted the strength of Class A and B office space in Bentonville as being a major contributor to the office sector’s overall positive performance.

The retail submarket, which has been under severe pressure nationally, showed resilience in Northwest Arkansas in the first half of the year. Despite adding 77,000 square feet of new space and the closing of major retailers Sears and Toys “R” Us, the retail vacancy rate remained below 10 percent. The vacancy rate ended 2017 at 8.9 percent and rose to 9.7 percent in the first half of 2018. CBER researchers specifically pointed out that many retail spaces formerly used for selling goods are now being utilized for selling services.

The warehouse submarket was the most significant contributor to the overall total negative absorption as it accounted for 210,335 of negative net absorption, roughly half of the total. Interestingly, this was not because of newly constructed space entering the market but, rather, driven by previously leased warehouse space becoming vacant.

“The office market in Northwest Arkansas continues to show strength and the ability to absorb the new space being introduced in the market,” said Mervin Jebaraj, CBER director. “During this cycle, we were also impressed with the retail market, as it continues to outperform national trends, even as large national retailers close and vacate local retail space. While the vacancy rate increased, it remains at healthy levels, and the market seems to be adjusting to the new retail landscape.

“And while the warehouse sector experienced a very week period in the first half of the year, this has always been a volatile market due to its small size in this area. To have a bad six-month period and still have a vacancy rate of just 8.1 percent tells us that there is no significant reason to worry about the warehouse market as the move to more e-commerce is expected to create sustained, long-term need for warehouse space.”

During the first half of 2018 commercial building permits totaled $188,503,803, a 61.4 percent increase from the $116,812,224 in permits issued in the first half of 2017.

Chris Thornton, loan manager with Arvest Bank of Springdale, said about the commercial market Skyline results, “It is very encouraging to see the commercial real estate market in Northwest Arkansas continue to grow and remain well balanced. We continue to work with our real estate development customers to help them identify the specific types of developments needed to match the growth in the market. Our commercial real estate financing teams will continue helping customers build the right projects at the right place and in the right time.”

The Arvest Skyline Report is a biannual analysis of the latest commercial, single-family residential and multifamily residential property markets in Benton and Washington counties. The report is sponsored by Arvest Bank and conducted by the Center for Business and Economic Research (CBER) in the Sam. M. Walton College of Business at the University of Arkansas.

In 2004, Arvest Bank contracted with CBER to collect information about the local real estate markets. CBER researchers aggregated and analyzed data from local governments, property managers, visual inspections and the business media to provide a complete picture of the status of property markets in the two counties.

CBER provides excellence in applied economic and business research to federal, state and local government, as well as to businesses currently operating or those that desire to operate in the state of Arkansas. The center further works to improve the economic opportunities of all Arkansans by conducting policy research in the public interest.

Tags: Arkansas, Arvest, Northwest Arkansas
 

Siloam Springs Volunteer Makes Tails Wag - People Helping People Series

Friday, October 13 at 06:15 PM
Category: People Helping People
Bittersweet may be the best word to describe the emotion Tina Berrios feels when she gets a text message from one of the local animal shelters she serves.
 
Berrios, president of the nonprofit, Tailwaggers*, Inc., said the texts usually convey this message: “Guess who got adopted?”
 
That message means one of the cats or dogs Berrios and other volunteers have spent hours befriending and socializing has a new home. It means the animal is leaving the shelter, which can be somewhat sad for those who have spent time with it.
 
The upside of those text messages, however, is greater.
 
“What’s most rewarding,” Berrios said of the time and energy she devotes to Tailwaggers, “is when there’s a dog that’s been there two or three months, when I get that text: ‘Guess who got adopted?’”
 
It’s been years since Berrios and her family moved from California to Siloam Springs, where she was surprised by how many stray animals she encountered. A longtime animal lover, Berrios began volunteering at the city’s shelter in hopes she could make some of thew animals more adoptable.
 

These days, Berrios not only volunteers her own time, but runs Tailwaggers. The organization’s mission is to improving the lives of pets and pet owners through education, spaying/neutering, fostering and adopting otherwise abandoned, abused and neglected animals.

Fundraising, beefing up volunteer lists, organizing educational outreach efforts and more can be a demanding – and sometimes thankless – job. When those text messages hit her phone, however, Berrios knows that all the effort is worth it.
 
“I love this job,” she said. “That’s what it’s all about.”
 
Berrios is the 23rd person to be featured in Arvest Bank’s People Helping People video series. The series is designed to celebrate individuals in the communities Arvest serves who are uniquely making a difference. 
 
About Arvest Bank
Arvest Bank operates more than 250 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 16 locally managed banks, each with its own board and management team. These banks serve customers in more than 120 communities, with extended weekday banking hours at many locations. Arvest also provides a wide range of banking services including loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing. Arvest is an Equal Housing Lender and Member FDIC.
 
 Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

 

Tags: Northwest Arkansas, People Helping People, Siloam Springs
 

Arvest Bank in Benton County Announces Rewerts Hiring

Monday, September 18 at 06:00 PM
Category: Arvest Community News
Arvest Bank is pleased to announce Mike Rewerts has been hired in its Benton County market.
 
A veteran of the mortgage and banking industries since 1999, Rewerts will serve as loan assistant manager at Arvest. His primary duty will be the supervision of the mortgage loan assistants in Benton County. Rewerts will be based at the Arvest location at Village on the Creeks in Rogers.
 
“Mike’s mortgage experience in originating, construction lending, processing and management will be a fantastic addition to our team,” said Maria Lau, mortgage loan manager for Arvest Bank in Benton County. “I am confident he will be a tremendous asset for both the bank and our customers.”
 
Rewerts played baseball at both Northeastern Oklahoma A&M College and Casper (Wyo.) College, where he studied business management and business marketing, respectively. He lives in Springdale and has one daughter.
 
About Arvest Bank
Arvest Bank, named by Forbes magazine as one of “America’s Best Large Employers” for 2017, operates more than 250 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 16 locally managed banks, each with its own board and management team. These banks serve customers in more than 120 communities, with extended weekday banking hours at many locations. Arvest also provides a wide range of banking services including loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing. Arvest is an Equal Housing Lender and Member FDIC.
Tags: Associates, Northwest Arkansas, Rogers
 

Arvest Bank Announces Matlock Hiring

Monday, September 11 at 06:00 PM
Category: Arvest Community News

Arvest Bank is pleased to announce Stacy Matlock has been hired as a commercial banker in its Springdale market. 

Matlock has 26 years of industry experience and has attended the American Institute of Banking. In her new role at Arvest, she will generate, evaluate and approve commercial loans, among other duties. She will be based out of the bank’s branch at 415 W. Emma Ave.
 
“Stacy has banking and sales experience, will be a tremendous asset to the team, and is already integrating herself into the community,” commercial loan manager Paula Wilson said.
 
Matlock is a member of the 2017-2018 Leadership Springdale class and is serving as a member of the Mercy Hospital Annual Charity Ball committee. She and her husband, Jesse, live in Springdale.
 
About Arvest Bank
Arvest Bank, named by Forbes magazine as one of “America’s Best Large Employers” for 2017, operates more than 250 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 16 locally managed banks, each with its own board and management team. These banks serve customers in more than 120 communities, with extended weekday banking hours at many locations. Arvest also provides a wide range of banking services including loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing. Arvest is an Equal Housing Lender and Member FDIC.
Tags: Associates, Northwest Arkansas, Springdale

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