Arvest Equipment Finance Performance Lauded by MonitorDaily
Division of Arvest Bank Makes Performance-Based List for Fifth Consecutive Year
LITTLE ROCK, Ark. (Aug. 13, 2019) -Arvest Equipment Finance (AEF), a division of Arvest Bank, has been recognized once again by MonitorDaily, a leading publication of the equipment leasing and finance industry.
The publication recently released the 2019 Monitor 100, its annual ranking of the largest equipment finance/leasing companies in the United States. AEF climbed one spot to No. 83 after being ranked 84thlast year. This is the fifth consecutive year AEF has been ranked on the list, and seventh time in the last eight years.
AEF ended 2018 with $310.1 million in loans and leases. That’s up 24.7 percent from 2017’s $248.6 million, according to MonitorDaily.
Additionally, AEF climbed from No. 89 to No. 82 in overall annual production. The move is largely the result of a 51.5 percent increase in new business volume, which went from $106.6 million in 2018 to $161.5 million in 2019.
“I am so proud of this team and what we have accomplished as a group,” AEF president Eric Bunnell said. “We strive for excellence every day in helping customers with their equipment finance needs, and our associates take a lot of pride in being recognized as one of the top equipment finance companies in the United States.
“As we continue to grow, we are expanding our calling efforts to new dealer relationships outside the Arvest footprint. We are in the early stages of developing these new relationships, but we are excited about the future of AEF. Through June, we have closed $105 million, which is an increase of 41.5 percent from the same period in 2018.”
Arvest Bank, named by Forbesmagazine as one of the “World’s Best Banks” for 2019, operates more than 270 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 14 locally managed banks, each with its own board and management team. These banks serve customers in more than 135 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.
About Arvest Wealth Management
Arvest Wealth Management offers wealth management, trust services and insurance products. Investments and Insurance Products: Not FDIC Insured, May Lose Value and Not Guaranteed by the Bank. Trust services provided by Arvest Bank.