Arvest Bank is expanding its footprint, planning to open its first physical location in the North Texas market later this year.
The Arkansas-based bank announced it will open a commercial loan production office at 11025 Preston Road in Frisco, Texas. The office will focus exclusively on commercial lending, offering services such as real estate loans, equipment financing and business lines of credit.
The new office will be overseen by Arvest’s Southwest Oklahoma market, which already manages a portfolio of commercial loans in the region.
“Our physical expansion into North Texas is an exciting step for Arvest and a direct response to the momentum we’re already seeing in the metroplex,” said David Madigan, president of Arvest Bank’s Southwest Oklahoma region. “The loan production office allows us to expand our growing commercial loan business and reinforce our commitment to supporting regional businesses with on-the-ground expertise and tailored lending solutions.”
The company expects the Frisco office to immediately support industrial and commercial projects while continuing to provide customers with access to its broader banking and treasury management services through its network across Arkansas, Oklahoma, Kansas and Missouri.
To lead the expansion, the bank has promoted longtime employee Mark Scott to commercial loan manager. Scott joined Arvest in 2008 and most recently served as a commercial lender in the Southwest Oklahoma market. The bank is also hiring additional commercial lenders for the Frisco team.
“We’re incredibly excited to have Mark lead this effort,” said Madigan. “His extensive experience and deep understanding of our bank’s culture make him the ideal leader to introduce Arvest’s commercial lending capabilities to this new market.”
Arvest has also named three North Texas business leaders to its regional bank board to help strengthen community relationships and provide local guidance. The new board members are attorney Rick Warren of Steptoe & Johnson PLLC; Lana Constantine, assistant vice president of brokerage at The Retail Connection; and Lupita Colmenero, chief operating officer and co-owner of LATINA Style Inc. and board chair and founder of the Dallas nonprofit Parents Step Ahead.
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