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
 

Roberts Promoted in Northwest Arkansas

Wednesday, May 17 at 05:15 AM
Category: Arvest Community News

Role includes leadership of advertising and marketing efforts.

ROGERS, Ark. – Arvest Bank is pleased to announce Kyle Roberts has been promoted to marketing manager for Arvest Benton County.

Roberts has worked in the financial services industry for more than three years, most recently as a marketing specialist for Arvest Benton County. In his new role, Roberts will provide leadership for that market’s advertising, public relations and marketing efforts, among other responsibilities.

“We are very excited to promote Kyle Roberts as our new marketing manager,” said Robyn Breshears, executive vice president and sales manager for Arvest Benton County. “During his time with our team, Kyle has filled a much-needed spot with his creativity, communication skills and high energy.

“Kyle shows true leadership and the desire to provide outstanding marketing services to our local team and the corporate marketing team. We look forward to Kyle’s forward-thinking initiatives to help us grow in the future.”

Roberts has worked in the banking industry for more than three years, and previously served as an adjunct professor at Northeastern State University (NSU) in Tahlequah, Okla. Roberts earned a bachelor’s degree in mass communications with an emphasis in public relations and minor in marketing from NSU, where he later added a master’s degree in communication arts.

Among other civic activities, Roberts serves as a volunteer at Keypoint Church in Bentonville and as a youth soccer coach. He and his wife, Sarina, live in Pea Ridge with their two children.

Tags: 1 Million Meals, Arkansas, Arvest Benton County, Associates, Bentonville, Press Release, Rogers
 

Brookhart Hired as VP, Commercial Banker in Rogers, Ark.

Tuesday, May 02 at 05:05 AM
Category: Arvest Community News

We're happy to have James Brookhart with his 10 years of experience serving our Benton County, Ark. commercial customers.

Rogers, Ark. – Arvest Bank is pleased to announce the hiring of James Brookhart as vice president and commercial banker in Benton County.

Brookhart comes to Arvest with 10 years of commercial lending experience and will office at Arvest’s Village on the Creeks branch at 5201 Village Parkway in Rogers. Brookhart also worked previously in international real estate development for the world’s largest retailer.

In his new role at Arvest, Brookhart will generate, evaluate and approve commercial loans, among other duties.

“We’re thrilled to welcome James to the Arvest family,” said Mark Ryan, Arvest loan manager for Arvest Benton County. “We know his knowledge, experience and expertise will be a benefit for our customers and prospects.”

Brookhart is a graduate of the University of Arkansas, as well as the Arkansas Bankers Association Commercial Lending School. He and his wife, Tammy, have three children and attend Keypoint Church in Bentonville.

Tags: Arkansas, Arvest Benton County, Associates, Rogers
 

Q&A with Debbie Rambo with Samaritan Community Center for 1 Million Meals

Friday, April 28 at 05:35 AM
Category: Arvest Community News

The Samaritan Community Center* has been serving Northwest Arkansas since 1989 where it started out as a clothing ministry and quickly turned into a food pantry instead. We’re grateful to be joining together to fight hunger in our 1 Million Meals initiative.

Debbie Rambo was happy to do a Q&A with us, so we could learn more about the Samaritan Community Center’s efforts to help our neighbors in need.

What’s your involvement with Samaritan Community Center, and how did you get started?
While I initially began as a volunteer when the organization was an outreach of my church, I have been the executive director for the Samaritan Community Center since it became an independent nonprofit organization in 2002. 

I have always had a desire to serve others which is something that my parents modeled for me as a child as they continually served other persons in need. Leading the organization since it became a nonprofit has also allowed me to develop a leadership team that is passionate about our mission, an amazing group of dedicated volunteers, and an organizational culture that strives to care for the whole person in a loving, grace-filled environment. 

What’s a compelling experience you’ve had during your time with Samaritan Community Center?
There was a gentleman named Mark that we regularly served over the years who was homeless and mentally ill. We helped to get him into permanent housing multiple times, but his illness just made an apartment too confining for him. Through the years, we just kept an eye out for him helping him with groceries on a regular basis or the occasional hotel room during extreme weather. He loved coffee, was particular about what he would or would not eat, and had the most amazing blue eyes. 

Last year, Mark passed away, and we had the opportunity to meet his extended family. I learned that he had been an aviation mechanic and had a son in the military. His brothers had those same blue eyes and they were filled with tears to know that we had loved Mark just the way he was. There is not a single day that goes by that I don’t think of Mark and wish I could just buy him a cup of coffee or take him some fresh fruit and granola bars.

How can people get involved with Samaritan Community Center?
There are a variety of ways in which people can get involved. We are a volunteer-driven organization with people doing everything from stocking the food shelves in our market to serving meals in our café to weeding or planting in our garden to sorting clothes in our thrift store. We can work with groups to do special projects on-site and food or personal care item drives off-site. Donations of quality clothing, household items and furniture to thrift stores are important too as one-third of our support comes from the stores. Financial support is easy and can be done online through our website* or by texting to give (text SCC to 555-888). 

We’d love to have you involved in our 1 Million Meals initiative to help the Samaritan Community Center* and our other food partners.  

Four Easy Ways to Donate:
  • Donate via Phone – Customers can make a $1 (or more) donation by calling (866) 952-9523. Funds will be drawn directly from your Arvest account.
  • Donate via Mail – Mail a check to Arvest Bank Operations, ATTN: 1MM, P.O. Box 799, Lowell, AR 72745. Include 1 Million Meals in the memo line of the check.
  • Donate in a Branch – Stop by your local Arvest Bank branch. Cash and check contributions accepted.
  • Donate Arvest Flex Rewards™ – Customers can redeem points for a 1 Million Meals donation. Log in at arvestflexrewards.com, and click on the banner for 1 Million Meals to get started!
We’ll Donate $1 Each Time You:
  • Follow us on Instagram.
  • Like or share our 1 Million Meals Facebook posts.
  • Retweet our 1 Million Meals tweets on Twitter on April 21 and May 10.

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

Tags: 1 Million Meals, Arkansas, Arvest Benton County, Charitable Giving, Community Support, Northwest Arkansas, Rogers
 

Commercial Real Estate Market Absorbs Over 1,000,000 Square Feet of Space in Northwest Arkansas

Monday, April 24 at 08:15 AM
Category: Arvest Community News

Multi-family vacancy rates up slightly but remain low.

Arvest Bank today released its Skyline Reports on commercial and multifamily real estate in Northwest Arkansas for the last six months of 2016.

In the commercial real estate market, 1,005,502 square feet of commercial space were absorbed in Northwest Arkansas during the second half of the year, while 541,561 square feet of new space were added, resulting in a net positive absorption of 463,941 square feet. The vacancy rate for all commercial space fell from 12.7 percent in the first half of 2016 to 11.7 percent in the second half. During the first half of 2016, the commercial market experienced net positive absorption of 11,847 square feet.

The retail submarket has seen a slight increase in vacancy rates from 9.2 percent in the first half of 2016 to 9.4 percent in the second half of 2016, while the warehouse submarket has seen a more significant decrease in vacancy rates year-over-year from 11.5 percent in the second half of 2015 to 8.1 percent in the second half of 2016. According to Kathy Deck, lead researcher for the Skyline Report and director of the Center for Business and Economic Research at the University of Arkansas at Fayetteville, this trend is likely a result of the changing shopping preferences of consumers.

“As consumers have increasingly embraced online shopping, it stands to reason that these new shopping preferences will have an impact on different types of commercial real estate with the retail real estate market softening while the warehouse market begins to tighten. I think that is what we are likely witnessing here in Northwest Arkansas,” said Deck.

The office submarket continues to show strength. While 155,933 new square feet were added in the second half of 2016, 271,396 square feet were absorbed – a net positive absorption of 115,463 square feet.

From July 1 to Dec. 31, 2016, there were $137.2 million in commercial building permits issued in Northwest Arkansas, a decrease from the $206.5 million in commercial building permits issued in the first half of the year and a slight increase from the $112.8 million in issued in the last half of 2015.

“Overall, the commercial real estate market can be described as both very active and well-balanced at this time,” Deck continued.

Vacancy rates in multifamily real estate rose slightly from the first half of the year but remain at low levels throughout Northwest Arkansas.  The overall vacancy rate for the Northwest Arkansas multifamily market during the second half of 2016 was 3.2 percent, up from 2.4 percent in the first half of the year. The Skyline Report tracks 336,159 multifamily units in 735 multifamily properties across Northwest Arkansas.

Craig Rivaldo, president with Arvest Bank of Benton County, said about the Skyline results, “We are visiting with a large number of clients who have been very encouraged regarding the real estate development market here in Northwest Arkansas. They have been seeing and hearing what this report indicates – that the market is well balanced, and there are plenty of good opportunities for intelligent commercial and multifamily projects now and in the future.”

Springdale continues to have the lowest vacancy rate in the region, now falling below 1.0 percent to 0.9 percent followed by Bentonville at 1.3 percent, Siloam Springs at 1.8 percent, Rogers at 2.7 percent and Fayetteville at 4.7 percent. Fayetteville’s vacancy rate of 4.7 percent was up from 3.6 percent in the first half of 2016, the result, according to Deck, of a substantial number of “by-the-bed” rental units targeted to college students coming onto the market after the start of the Fall school semester.

Increased demand put upward pressure on lease rates with the average monthly lease price for a multifamily property unit in Northwest Arkansas increasing to $627.04 from $608.88 in the first half of 2016.

“We are running out of adjectives to describe the multifamily market in Northwest Arkansas,” Deck said. “Considering that what is generally considered the normal vacancy rate in multifamily properties is 5 percent, for the overall rate in Northwest Arkansas to be in the 3 percent range and to have stayed under 4 percent since the second half of 2014 is remarkable. With so many new multifamily properties under construction or recently announced, we anticipate that we will likely be in the more normal range of 5 percent within 18- to 24-months. And with so many of the newer properties having a more robust set of amenities, it won’t be surprising if we see higher average rates at that time, even with a higher overall vacancy rate.”

The Arvest Skyline Report is a biannual analysis of the latest commercial, single-family residential and multi-family 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 entered into a contract 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.

The 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 Benton County, Arvest Biz, Bentonville, Business Banking, Community Support, Home Loans, Mortgage, Northwest Arkansas, Prairie Grove, Press Release, Rogers, Siloam Springs, Springdale

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