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Bear State’s Matt Machen to Lead Enhanced Services at Arvest Bank

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Arvest Bank of Fayetteville said Monday that Matt Machen has been named regional executive of enhanced banking services.

Machen joined Arvest after the privately held company purchased Bear State Financial Inc. of Little Rock, the parent company of Bear State Bank, in a $391 million cash deal that closed in April. Machen was president and CEO of the holding company and bank.

The Bear State deal brought Arvest’s total assets to more than $18 billion and its total number of branches in Arkansas, Kansas, Missouri and Oklahoma to more than 270. Arvest entered 15 new communities and added 20 branches in Arkansas, Missouri and Oklahoma.

Arvest said Machen will oversee “wealth management, treasury management, mortgage production, equipment finance, small business administration and group credit administration units, as well as Waco Title, an Arvest affiliate.”

Machen joined Bear State Bank, then known as First Federal Bancshares of Arkansas Inc., in 2011. He was named CFO in 2013 and president in 2016. Machen became president and CEO of the holding company and bank in 2017, succeeding Mark McFatridge, who resigned.

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