ABA Recognizes Arvest for Community Work

Arvest Bank received national recognition for its contributions to the community at the American Bankers Association National Conference for Community Bankers in Phoenix.
The bank was recognized for its efforts in the Building with Habitat for Humanity category.
In the spring of 2008, Arvest announced a three-year, quarter of a million dollar initiative called Built Together. Given the bank’s mission statement of “People helping people find financial solutions for life,” the program was a natural fit for the bank to donate associate volunteer hours and monetary resources to make a difference in the communities it serves across Arkansas, Missouri and Oklahoma, said Arvest officials.
Arvest’s Built Together program is comprised of a 13-house plan that includes full construction of four homes, including a home built in west Tulsa in 2008, and partial builds of nine others over a three-year period that began in June 2008. During the first six months, 320 Arvest bankers, families and friends joined construction crews on eight different homes. In addition to the initial financial commitment, bank associates and customers at Arvest branches participated in paper brick sales as a fund raising drive throughout the summer, raising $90,000.
The ABA selection committee recognized 15 banks from across the country in various categories based on their innovation, creativity and effectiveness of the bank’s approach to making a difference in its community. Arvest was the only bank recognized for support of Habitat for Humanity at the Feb. 17 conference awards ceremony.
“While it is wonderful to be recognized for hard work and an honor to accept this award at the conference on behalf of all the Arvest associates who have participated, this really is about providing homes for families in need,” said Tammy Kee, vice president at Arvest and coordinator of the Built Together program. Arvest’s Built Together continues in 2009 with full home builds in Oklahoma City and Little Rock, and in 2010 with a full home in Northwest Arkansas and three partial builds in Bartlesville, Fort Smith and Springfield, Mo.
IBC Earnings Up in 2008
International Bancshares Corp. reported annual net income for 2008 of $132.1 million or $1.93 per share – basic ($1.92 per share diluted) compared to $121.3 million or $1.76 per share – basic ($1.75 per share diluted), which represents a 9.7 percent increase in diluted earnings per share and an 8.9 percent increase in net income over the corresponding period in 2007.
Net income for the fourth quarter of 2008 was $31.7 million, or $.46 per share – basic ($.46 per share diluted) compared to $35.4 million, or $.52 per share – basic ($.52 per share diluted) for the corresponding period in 2007.
Net income for the year ended Dec. 31, 2008, was negatively impacted by the company increasing its provision for probable loan losses charged to expense to $19.8 million, pretax, for the year ended 2008.
Program Looks at IRS Audit
Although no phrase may strike more fear in a taxpayer than the dreaded, “IRS audit,” the prospect of an IRS audit need not paralyze small businesses and the tax professionals who assist them.
They can learn how to prepare for and what to expect during an audit by tuning in to the Internal Revenue Service March Tax Talk Today program, “Surviving the IRS Audit,” on March 10 at 1 p.m. The program will include what happens before, during and after the audit as tax professionals and IRS staff talk about audits from both sides of the desk.
To access the Web cast at no charge, viewers can register online at Tax Talk Today. Go to the Tax Talk Today Web site at http://www.taxtalktoday.com/ for complete information.

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