The three Bear State Bank locations in Mountain Home are set to close on September 21st. The three in Mountain Home are among 20 bank officials say will shutter their doors following the acquisition of the financial institutions in April by Arvest Bank.
The three Bear State Bank facilities set for closure are located at 668 Highway 62 East, 1337 Highway 62 Southwest and 3027 Highway 62 East.
In a statement, Arvest officials say the closings were a possibility since the pending acquisition was first announced last August, depending on the close proximity to Bear State Bank branches. Local Arvest leadership has made those decisions on a case-by-case basis, and as a result, 20 current Bear State branches will permanently close.
Customers who use any of the affected branches may bank at any Arvest location beginning September 24th.
Additionally, Bear State customers with safe deposit boxes in the affected branches are being asked to remove or relocate the contents of their boxes prior to July 27th. Affected customers may relocate the contents of their boxes to any Arvest branch and can begin the process by visiting one of the closing Bear State locations.
Officials are working with all of the current associates in these Bear State branches to find them a place at other Arvest Bank locations.
Arvest Bank announced it completed the acquisition of Bear State Financial, the parent company of Bear State Bank, in April. The purchase was a cash transaction valued at approximately $391 million. With the close of the deal, Arvest had assets of approximately $18.76 billion.
Bear State purchased First Federal Bank of Harrison, with locations in Mountain Home, in 2015.
WebReadyTM Powered by WireReady® NSI