Arvest Bank Names Craig Rivaldo CEO in Benton County

Craig Rivaldo

Arvest Bank of Fayetteville said Tuesday that Craig Rivaldo, president and CEO of Arvest Bank of Fort Smith, has been named the president and CEO of Arvest Bank of Benton County effective May 1.

Rivaldo replaces H. Dennis Smiley Jr., who resigned from the post last month and is the subject of a federal criminal investigation for bank fraud.

In a news release, Scott Grigsby, a regional executive of Arvest Bank and interim president and CEO in Benton County, called Rivaldo an “excellent banker and outstanding individual.” 

“His career with Arvest spans more than 27 years and, in that time, he has proven himself to be an effective leader, a trusted decision-maker, and someone who cares deeply about the communities he serves,” Grigsby said. “We are fortunate to have Craig and his family as a part of Arvest in Benton County.”

Rivaldo began his career with Arvest as a trainee with McIlroy Bank in Fayetteville, which is now Arvest Bank of Fayetteville, in 1987. 

In 1999 he was part of the group of employees who started Arvest’s Fort Smith operations. He was named CEO in Fort Smith in 2010.

“I am very excited and humbled to be given the opportunity to join an incredibly strong team in Benton County,” Rivaldo said in a news release. “It is truly an honor to join the bank where this company was founded and to have the chance to serve these great communities and customers.”

Arvest Bank of Benton County is the largest of Arvest’s 16 banks. It has 28 locations and more than 400 employees.

Arvest said its search for a new Fort Smith CEO will begin immediately.