Arvest Bank will be shutting down a significant portion of its bank branches this summer.
The Fayetteville-headquartered bank will close 31 of its approximately 270 branches in summer 2021. This will affect roughly 11 percent of the bank’s branches.
According an Arvest Bank release, the financial institution conducted an in-depth analysis of customer banking preferences and its banking system. In response to this analysis, Arvest Bank developed a transformation strategy, including the branch closures.
Other features of the plan include the construction of eight new facilities and 15 remodeling projects, which are expected to take place over the next 12 to 18 months. Arvest Bank will also implement 38 new ATM with Live Teller machines in its banking network to allow for face-to-face communications with human tellers via video.
The bank also announced that it would be opening select branch lobbies at banks in Arkansas, Kansas, Missouri and Oklahoma. This will affect bank branches in Alma, Benton, Bentonville, Berryville, Cabot, Centerton, Clarksville, Conway, De Queen, Farmington, Fayetteville, Flippin, Fort Smith, Gravette, Harrison, Hot Springs, Huntsville, Jonesboro, Little Rock, Morrilton, Mountain Home, Nashville, Pea Ridge, Rogers, Russellville, Sherwood, Siloam Springs, Van Buren, Waldron and Yellville.