Arvest Bank

Report Card
B-
Overall Grade
B-
Mortgages Grade
C
Bank Account Services Grade
Arvest Bank is rated overall in the top 64 percentile (out of 100) based on 303 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits24.2
Complaints Resolved in a Timely Manner97.7%
Resolutions Disputed by Customer19.1%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationArvest Bank Group, Inc.
EstablishedJanuary, 1871
FDIC InsuredJanuary, 1934
FDIC Certificate #008728
Number of Branches277
Total Assets$15 Million (65th)
Total Deposits$12.5 Million (62nd)
Total Equity$1.6 Million (66th)
Quartarly Net Income$26.2 Thousand (66th)

Contact Information

Corporate Headquarters
75 North East Street
Fayetteville, AR 72701
United Statesflag
Website
www.arvest.com
Data Summary
Arvest Bank logo

Grade Summary

Overall, Arvest Bank received a grade of "B-" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. Arvest Bank is rated "B-" in Mortgages, and "C" in Bank Account Services. Click on any of the financial products to see how Arvest Bank compares.

Overview

Arvest Bank has received 303 consumer complaints since December, 2011 – more than 96% of other banks.

Of those complaints, 97.7% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Arvest Bank meets the 60-day response deadline less frequently than 56.6% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 19.1% of customers dispute Arvest Bank's response to complaints — worse than 52.3% of other companies.

Most of Arvest Bank's customers complain about mortgages with the primary issue being "loan modification,collection,foreclosure."

Arvest Bank is primarily a commercial bank with a commercial lending specialization. Arvest Bank is based in Fayetteville, Arkansas and is the 65th largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, Arvest Bank receives far more complaints than most other banks. Arvest Bank recieves more complaints per customer than 99% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against Arvest Bank
#Financial ProductSub-ProductComplaint IssueComplaint Count
1MortgageOther mortgageLoan modification,collection,foreclosure97
2MortgageConventional adjustable mortgage (ARM)Loan modification,collection,foreclosure35
3MortgageConventional fixed mortgageLoan servicing, payments, escrow account32
4MortgageConventional fixed mortgageLoan modification,collection,foreclosure29
5Bank account or serviceChecking accountDeposits and withdrawals21
6MortgageOther mortgageLoan servicing, payments, escrow account20
7Bank account or serviceChecking accountAccount opening, closing, or management18
8MortgageConventional adjustable mortgage (ARM)Loan servicing, payments, escrow account15
9Bank account or serviceChecking accountProblems caused by my funds being low10
10MortgageFHA mortgageLoan modification,collection,foreclosure7
Responses From Arvest Bank
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation287281 (97.9%)59 (20.6%)
2Closed without relief2625 (96.2%)6 (23.1%)
3Closed with monetary relief1212 (100%)1 (8.3%)
4Closed88 (100%)3 (37.5%)
5Closed with relief55 (100%)1 (20%)
6Closed with non-monetary relief33 (100%)0 (0%)
Complaints over the Past Year