Arvest names president to succeed Crain

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Days after Arvest Bank announced Springfield market president Brad Crain was headed to a new post, a successor has been selected.

Kyle Hubbard, a 17-year veteran of Arvest Bank, is set to assume leadership of the Springfield operation within a few weeks. Hubbard has served since 2015 as president and CEO of Arvest Bank in Bartlesville, Oklahoma, according to a news release.

“I am thrilled to have the opportunity to serve Arvest Bank in Springfield,” Hubbard said in the release. “This thriving, constantly developing city and tightly knit community presents new challenges and new areas of growth, which I can’t wait to take on.”

Crain, who began working for Arvest Bank in 2006 and entered the Springfield market in 2014, is moving to become Arvest’s president and CEO post in Benton County, Arkansas, on Jan. 27. His exit from Springfield was announced in a separate news release.

Prior to the announcement of his successor, Crain said last week the Springfield market is a great opportunity for whoever fills his role.

“They can build on the momentum built over the last six years and take this bank to the next level,” he said, adding he sees the bank’s growth trend continuing.

Crain’s new job serves as a promotion, he said, as Benton County is Arvest’s largest of 14 banking operations, with just over $3 billion in assets. Springfield ranks ninth in terms of assets at $830 million, as of Dec. 31, he said. Six years prior, the local market’s assets were $274 million, ranking it 13th in the company.

Acquisitions of Bear State Financial Inc. (Nasdaq: BSF) and Bank of America branches largely fueled the growth, but Crain said Arvest has been focused on expanding its footprint in southwest Missouri since entering the local market in 2007.

Hubbard began his career with Arvest as a retail associate in Oklahoma City, before moving on to Bartlesville, where he was promoted to loan manager before taking over as market president and CEO.

Arvest-Springfield ranked No. 13 on Springfield Business Journal’s 2019 list of the area’s largest banks and savings banks. Its Springfield metropolitan statistical area deposits were $286.7 million as of June 30, 2019.

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