Arvest Bank is pleased to announce Craig Rivaldo has been promoted to regional executive, effective Feb. 1.

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Rivaldo will replace Don Walker, who is retiring effective Jan. 31 after a career of more than 40 years with Arvest. Walker has served as regional executive since 2015.

Rivaldo has served as president and CEO for Arvest in Benton County since May 2014. Prior to that, Rivaldo was president and CEO for Arvest in Fort Smith, a position he took in 2010.

A Fort Smith native, Rivaldo held several positions after joining Arvest as a trainee in 1987 and was part of the team that launched Arvest’s operations in Fort Smith in 1999.

“The experience and expertise Craig has gained over the last 30-plus years – including serving as president for two of our Arkansas markets – positions him perfectly to move into this role,” Arvest president and CEO Kevin Sabin said. “Craig has long been a key member of our team here at Arvest, and I have no doubt he will bring invaluable insight and thoughtful leadership to the local banks he will serve.”

In his role as a regional executive, Rivaldo will assist Arvest’s banks in Arkansas, working closely with management teams and boards of directors in overseeing expansion opportunities, business plan execution, asset quality and budgeting.

“I am honored to follow in the footsteps of Don Walker and look forward to this new challenge,” Rivaldo said. “This is an exciting time for Arvest and our customers, and I’m eager to get to work with our banks here in Arkansas, specifically, as we continue to meet the needs and demands of those we serve.”

Rivaldo is a graduate of Arkansas Tech University, the Southwestern Graduate School of Banking at Southern Methodist University and the National Commercial Lending School at the University of Oklahoma. He and his wife, Mary Jo, have one son.

A search for a new president in Benton County is under way and an announcement will be made when a successor is selected.