Arvest Bank, a regional full-service bank with over $27 billion in assets, plans to open a loan production office in Frisco, Texas, marking its official physical entry into the North Texas market.
The office, expected to open later this year, will be staffed by a local team of commercial lenders who can offer a range of commercial loans, including real estate, lines of credit and equipment financing. The Southwest Oklahoma market, which already manages a portfolio of business loans in the region, will oversee the new office’s operations.
“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,” David Madigan, president of Arvest Bank – Southwest Oklahoma, said. “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.”
Arvest expects to immediately support industrial and commercial projects, leveraging its extensive experience in these sectors. The Frisco loan production office will focus exclusively on commercial lending. Customers can access Arvest’s banking and treasury management services through its regional bank network in Oklahoma, Arkansas, Kansas or Missouri.
Arvest has promoted Mark Scott to commercial loan manager, who will lead the local team in Frisco. Scott, who joined Arvest in 2008, previously served as a commercial lender in the bank’s Southwest Oklahoma region. The bank is in the process of hiring additional commercial lenders to join the team.
“We’re incredibly excited to have Mark lead this effort,” Madigan said. “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 added three local business leaders to its North Texas bank board. Attorney Rick Warren of Steptoe & Johnson PLLC; Lana Constantine, assistant vice president of brokerage at Dallas-based The Retail Connection; and Lupita Colmenero, chief operating officer and co-owner of LATINA Style and board chair and founder of Dallas-based nonprofit Parents Step Ahead, will serve as regional advisors and community liaisons.
