Arvest To Purchase 29 Bank Of America Locations

Arvest Bank will buy 29 Bank of America locations, including nine in Arkansas, Arvest officials announced Thursday.

Arvest will take over certain Bank of America assets, several branch locations and most deposit accounts involving checking, savings and investment accounts. The nine branches switching hands in Arkansas include banks in Russellville, Mountain Home, Harrison, Hot Springs and Hot Springs Village, according to a statement released by Arvest Bank.

The 15 other branches are spread between Missouri, Oklahoma and Kansas.

The transaction will not include credit card, mortgage, brokerage or trust accounts.

Craig Rivaldo, president of Arvest Bank in Fort Smith, said he believes the transaction of the Russellville banking location will help individual customers and companies in the River Valley area.

Many existing Bank of America employees are expected to transition into their current position with Arvest Bank.

“Bank of America customers whose accounts are assigned to these specific branch locations do not need to do anything at this time,” an Arvest statement said. “They should continue to use their current Bank of America checks, debit cards and other products and services until they are contacted by Bank of America and then subsequently by Arvest after the transaction is approved.”

List of Bank of America locations purchased by Arvest Bank: