UPDATE: Larry Choate Resigns as CEO of Arvest Bank in Central Arkansas

by Gwen Moritz  on Wednesday, Jun. 2, 2010 11:35 am  

Larry Choate in a file photo from earlier this year

Larry Choate, chairman and CEO of Arvest Bank in central Arkansas since 2004, has resigned, the company confirmed Wednesday morning.

"We appreciate Larry's years of service with Arvest and wish him the best in his future endeavors," Cliff Gibbs, regional president of Arvest, said in a news release. "The entire team, under the leadership of Larry, Jim Cargill, and our local board, has helped us grow into one of the premiere banks in Central Arkansas."

Cargill, president of the bank since 2000 and an Arvest banker for more than 25 years, "will continue in his executive management role," according to the release.

Gibbs told ArkansasBusiness.com that decision-making was one of Choate's strengths, and "when he decided he wanted a change, he didn't dawdle." A search for his replacement will commence "immediately," Gibbs said. In the meantime, the central Arkansas branches will be managed by the experienced team that remains in place.

The central Arkansas division opened a new branch at the University of Arkansas for Medical Sciences late last year and is now working on a new branch north of the University of Arkansas at Little Rock campus on University Avenue. It will replace the branch at Asher and University, Gibbs said. 



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