Kevin Sabin, CEO of Arvest Bank of Fayetteville, retired Nov. 1 and has been replaced by Chief Operating Officer Matt Machen, the bank confirmed in a press release Thursday.
After leading Arkansas’ second-largest bank by assets since 2012, Sabin will remain chairman of the Arvest Bank board and a member of the board of the bank’s holding company, Arvest Bank Group.
Axios NWA first reported the news Thursday morning.
Sabin joined the bank in 1998 and was named president and chief operating officer in 2002. He became the president and CEO in 2012 and was named the chairman and CEO last year.
Machen joined Arvest in 2018 following Arvest’s acquisition of Bear State Bank where he had served as president and CEO. Last year, he was named president and chief operating officer at Arvest. In addition to being CEO, Machen will also be a member of Arvest Bank Group. Machen holds a bachelor’s in business administration in finance and financial management from the University of Arkansas.
Yurik Paroubek will replace Machen as the bank’s chief operating officer. Paroubek joined the bank in 2018 and previously served as the bank’s chief banking operations officer. Paroubek had been the chief technology officer and director of operations at Bear State Bank.
“The Arvest Bank Group board, our shareholders, and I are excited about these moves,” Arvest Bank owner Jim Walton said in a statement. “We congratulate Kevin on his retirement. He has been an excellent leader for Arvest, and we are grateful to have worked with him. Matt will seamlessly provide steady leadership as we continue to offer customer-focused financial services and be a growth engine for our communities into the future.”
Arvest Bank ranked No. 2 on Arkansas Business’ latest list of the state’s largest banks with $26.89 billion in assets as of Dec. 31, 2024. The lender was just above Simmons Bank of Pine Bluff, which had $26.84 billion in assets.
Bank OZK of Little Rock ranked No. 1 with $38.25 billion in assets.
A previous version of this story incorrectly reported Simmons Bank’s total assets.
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