Arvest Bank
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Arvest Bank is a bank and brokerage with branches in Arkansas, Kansas, Oklahoma, and Missouri. Beginning with Benton County's first automatic teller machine (ATM) in 1976 and the launch of an Internet banking web site in 1998, Arvest Bank has been modernizing its services. Arvest Bank's Chairman of the Board is Jim Walton, son of Sam Walton, founder of Wal-Mart.
Since the home office and charter of McIlroy Bank & Trust in Fayetteville (founded in 1871), acquired by Arvest in 1986, have become Arvest's own official home office and charter, Arvest has reasonable claim to being the oldest bank in Arkansas. However, since Arvest still asserts separate identities for its banking operations in each community (despite its consolidated charter), it only makes that claim in Fayetteville. Arvest itself traces its beginnings to an acquisition of The Bank of Bentonville, in Walton's hometown of Bentonville, Arkansas, in 1961. Through its various acquisitions over the years, and as a result of buyouts of other Arkansas banks, Arvest has grown to its current position as the largest Arkansas-based bank in terms of market share.
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