Arvest Bank is adding to its considerable presence in Oklahoma’s Tulsa County market with a 25th location.
Of the 47 banks in the $33 billion-deposit market, Arvest holds the second-largest share of deposits at 7.39% ($2.5 billion).
The $26 billion-asset lender is developing a full-service branch at 155 E. 150th Place South in Glenpool. Arvest’s entry will expand the competitive field to three.
Two Oklahoma banks are on the ground in Glenpool: $9.9 billion-asset BancFirst of Oklahoma City and $1.5 billion-asset Mabrey Bank of Bixby. The two hold a nearly 50-50 split of the city’s $102 million deposits.
The only other Arkansas lender in the Tulsa County market is Simmons Bank of Pine Bluff. Its lone Tulsa branch is home to deposits of $220 million, a 0.66% stake that ranks No. 25 in the market.
The Glenpool branch will be Arvest’s 22nd full-service office in Tulsa County when it comes online next year.