JONESBORO, Ark. (KAIT) - Arvest Bank announced Wednesday it will close nearly 12 percent of its 270-plus bank branches, including one in Jonesboro.
According to our content partner, Talk Business and Politics, the Fayetteville-chartered bank will close 31 branches at 5 p.m. Wednesday, June 30.
Among the branches in Arkansas that will permanently close is the one located at 5205 E. Johnson Ave. in Jonesboro.
According to Arvest, more than a third of those closing are limited-service branches and most are in markets with other nearby Arvest branches.
“A limited number of associates” will be affected by the changes, but a company spokesperson was unable to provide a specific number.
“Well-trained and committed associates are the pillar of Arvest’s success and it is the bank’s desire to retain as many associates as possible by helping them secure other roles at Arvest locations,” the company said in a statement.
The company went to say that the past year had “introduced many challenges to the banking industry.”
“Most significant for Arvest Bank has been a shift in the balance between branch transactions and digital banking,” the statement read.
Arvest Bank operates 270 branches in Arkansas, Kansas, Missouri, and Oklahoma.