
3 minute read
CHAMBERS BANK PROMOTES CURTIS SPATZ
and managed a loan portfolio totaling more than $525 million. His previous experience includes working at Legacy National Bank as a vice president and commercial loan officer and at Arvest Bank, where he worked as a consumer loan manager and commercial loan officer.
Blackston’s background includes direct loan production, portfolio management, sales management, credit underwriting and risk management. Blackston is a graduate of John Brown University with a degree in organizational management.
To Chief Strategy Officer
Danville-based Chambers Bank has promoted Curtis Spatz of Prairie Grove to the newly created chief strategy officer position. With the new job, Spatz joins the bank’s executive committee as a member of senior management.
Spatz has 23 years of banking experience and has worked at Chambers Bank since 2015, most recently as a regional retail manager and senior vice president of digital banking.
“Throughout his time at Chambers Bank, Curtis has shown great initiative and strategic vision,” Chambers Bank President Mike Donnell said. “He is forward thinking and is always looking for ways to position our bank for a successful future. But more importantly, he truly cares about our customer experience and understands the mission of community banking.”
Spatz holds a bachelor’s degree in organizational management and ethics from Oklahoma Wesleyan University and recently earned his CTP (certified treasury professional) certification.
“Having spent time at a larger, regional bank, I love that we are a family-owned bank with a long history of serving the people, businesses and communities within our footprint,” Spatz said. “I am excited to take on the role of chief strategy officer to build on the success of Chambers Bank and to continue to look for opportunities to position the bank well for years to come through our customer experience, digital transformation journey, growth and efficiency initiatives.”
Stone Bank Purchases Former Bank Ozk Headquarters Building
Stone Bank has acquired the building at the corner of Chenal Parkway and Markham in west Little Rock for $9.5 million.
The building was originally built as the headquarters for Bank OZK, formerly Bank of the Ozarks, which has moved twice since construction.
Nick Roach, President of Stone Bank, announced Friday (June 16) that the west Little Rock location will expand the bank’s management offices and allow operations of a retail banking facility in the building.
“The purchase of this great property will not only give us space to expand our bank management operations but also provide an expanded retail banking presence at one of the most dynamic intersections in the state of Arkansas,” Roach said. “This new space will allow us to continue our rapid pace of growth and some of the dynamic plans we have for the future.”
“The visibility alone makes it a fantastic location with a daily traffic count of more than 36,000 vehicles daily on one side and 23,000 per day on the other,” he added.
The property, located at the corner of Chenal Parkway and West Markham, has 38,000 square feet, including a full-service retail bank with five drive-through lanes and a 24-hour automated teller.
Originally constructed in 1998 as a bank headquarters, Stone Bank will occupy the first two floors of the building, with an insurance company tenant leasing the top floor.
Stone Bank has $700 million in total assets and 115 employees in five states. The bank operates retail locations in six communities in Arkansas and has a nationwide presence in the field of government-guaranteed loans (SBA, USDA, FSA). Stone Bank is chartered in Mountain View, where it operates a full-service bank and an Agri Lending Center which primarily services FSA-guaranteed loans for poultry farmers.
ARVEST LAUNCHES PRODUCT FOR FIRST-TIME HOMEBUYERS
Arvest Bank has launched the Arvest Homebuyer Advantage, a product aimed at helping first-time homebuyers with insufficient down payment funds. The new tool is a joint venture with the Arvest Opportunity Fund, a non-bank subsidiary of Arvest.
Qualified first-time homebuyers can secure financing with no down payment or private mortgage insurance fee.
The product combines an Arvest mortgage with an Arvest Opportunity Fund second mortgage, both collateralized by the same property.
The Arvest Opportunity Fund second mortgage allows customers to pay off up to 20% of their mortgage commitment in 15 years.
Arvest’s mortgage division will service both mortgages.
“We couldn’t be more excited to expand our offerings and help more people achieve homeownership, especially as headwinds have increased with affordability and low-inventory concerns,” said Matt Kendall, Arvest mortgage division president and CEO. “Additionally, thanks to our partners at the Arvest Opportunity Fund, this product gives customers the potential to build equity faster.”
The Arvest Homebuyer Advantage requires customers to complete a homebuyer education program and credit review session before closing.
The educational component is aimed at helping customers understand payments and costs and improve their financial health.
The Arvest Opportunity Fund provides loans and lines of credit to small business customers. Despite affordability and low-inventory concerns, Arvest aims to expand offerings and help more people achieve homeownership.