Arvest Bank announced today the completion of the acquisition of Caney Valley Bancshares, Inc. and its wholly owned subsidiary, Caney Valley National Bank. The merger took place at close of business Friday, Jan. 5.
As of Saturday, Jan. 6, Caney Valley National Bank began operating as Arvest Bank. Hal Taylor, Chairman of Caney Valley Bancshares and its Caney Valley National Bank subsidiary, said that the merger allows customers to have a better banking experience by increasing their banking network and products offered.
David Kedy, Arvest President, said Caney Valley National Bank fits into the Arvest family as a well-run community bank.
“Many Arvest customers live in the Caney area and commute into Bartlesville to work, so the acquisition allows Arvest to better serve those customers’ needs,” Kedy said. “The merger will enable the customers of Caney Valley National Bank to use any of the existing Arvest branches, including the four branches in nearby Bartlesville, Okla., and the branch in Dewey, Okla.”
Caney Valley Bancshares, Inc. is a $43 million bank holding company headquartered in Caney, Kan. Its subsidiary bank, The Caney Valley National Bank, operates one office in Montgomery County, Kan. Arvest is based in Bentonville, Ark.
Arvest Bank operates over 200 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a network of 15 locally managed community banks, each with their own board of directors and management team. Serving customers in 90 communities with 12-hour weekday banking at most locations, Arvest also operates a mortgage company, Trust and Investment services, insurance division and mortgage servicing company.