Arvest Equipment Finance (AEF) closed more than $246 million in new production in 2019, a record total for the division of Arvest Bank. The production numbers were announced Tuesday (Jan. 28).
It is the second straight year AEF has recorded a 52% increase in gross production year-over-year, according to a news release.
“The AEF team continues to amaze me,” AEF president Eric Bunnell said in a statement. “Its dedication in helping bank and vendor customers finance their equipment needs continues to drive our growth. We have several exciting initiatives we are working on in 2020 in order to build off this momentum.”
Additionally, AEF’s total portfolio jumped more than 35% year-over-year, from $310.1 million in 2018 to $421.7 million in 2019.
“Our entire team is focused on serving the customers and helping them achieve their goals,” AEF sales manager John Bradford said in a statement. “We strive every day to be the equipment finance provider of choice in the markets we serve. The story is that our associates make the difference and the word is getting out.”
AEF is headquartered in Fort Smith with locations in Little Rock, Kansas City and Tulsa, and does business throughout Arvest’s four-state footprint.