News release from Arvest Bank:
Arvest Bank is one of the leading bank lenders to U.S. agriculture, according to the American Bankers Association's (ABA) list of the top 100 farm lenders. The bank ranked 27thnationally with approximately $462 million in agricultural loans at the end of last year according to the American Banker's Association annual list of 100 largest farm lenders. In 2012, Arvest originated approximately $452 million in farm loans, up from 9 percent from $415 million in 2011.
"In the regions that Arvest operates in, we certainly have a number of customers that make their living in the agricultural industry. Many Arvest associates have backgrounds in agriculture also, so it's only natural that we would focus on providing farmers with multiple types of loans, such as SBA and FSA. We want to make sure we have the expertise that agribusiness people require to be profitable. We're thrilled to be able to partner with so many agriculturally-based businesses and customers in our communities." said Ray Tubaugh, Regional Loan Manager.
Traditionally, people may only think of Farm Credit or the USDA Farm Service Agency (FSA) when it comes to farm lending, but banks, like Arvest, play a large role as well. The 2012 ABA Farm Bank Performance Report stated that the U.S. banking industry is the nation's most important supplier of credit to the agriculture industry, providing more than 50 percent ($141 billion) of all farm loans.1
Agricultural lending is an area in which Arvest continues to experience significant growth. Since 2006, total farm loans at Arvest (farm production loans plus farmland loans) have more than doubled. The bank originated $227 million in farm loans in 2006, and approximately $452 million in 2012. Since 2006, total farm loans made by all banks have increased 67 percent from $49.1 billion in 2006 to $81.8 billion in 2012.1 6 percent of Arvest's total loan portfolio is farm lending.
Arvest provides financing solutions and support for many specialized areas of agriculture including dairy, greenhouse/nurseries, livestock, grain, field crops and their related industries such a food processing, packing and shipping, yet unlike Farm Credit and FSA, the bank can offer complete banking services to its agri-lending clients. From a livestock loan program for 4-H and FFA members, to real estate loans and checking accounts, Arvest can provide customers with total banking services, all with convenient locations and hours.
# # #