Arvest Equipment Finance (AEF), a division of Arvest Bank, has been recognized once again by MonitorDaily, a leading publication of the equipment leasing and finance industry.
The publication recently released the 2021 Monitor 100, its annual ranking of the largest equipment finance/leasing companies in the United States. AEF climbed seven spots to No. 73 after being ranked 80th a year ago. This is the seventh consecutive year AEF has been ranked on the list, and the ninth time in the last 10 years.
AEF ended 2020 with $513.7 million in loans and leases. That is up 21.8 percent from 2019’s $421.7 million, according to MonitorDaily.
Additionally, AEF climbed from No. 74 to No. 69 in overall annual production. The move is largely the result of a 13.6 percent increase in new business volume, which went from $246.2 million in 2019 to $279.8 million in 2020.
“We faced many challenges last year and to report an increase in production is a testament to our team members,” AEF president Eric Bunnell said. “They kept their focus on helping customers while remaining flexible with all of the COVID-related restrictions. The majority of our team had the ability to work remotely prior to the pandemic, so we had very little disruption in our daily workflow.”
Bunnell also announced Matt Crawley’s promotion to director of compliance. Crawley has been with Arvest since 2002, joining AEF as its first asset manager in 2011. In his new role, Crawley will oversee all compliance activities impacting AEF. Crawley is a graduate of the University of Arkansas, has completed his certifications for the American Society of Appraisers and earned the designation of Certified Leasing and Finance Professional (CLFP).
Additionally, Katherine Adams has been hired as AEF’s director of operations. Adams has more than 20 years of operational management experience working for bank-owned equipment finance companies. Adams is responsible for developing, organizing and directing all operational activities for AEF, as well as strategic planning for future growth. Adams is a graduate of the University of Southern Mississippi and carries the CLFP designation.
“I am excited to have Matt and Katherine in these key positions for AEF,” Bunnell said. “Their experience and expertise will be invaluable as we continue to service the four states within our footprint and 23 additional states, while also looking for ways to continue our growth and improve the overall customer experience.”
AEF is headquartered in Fort Smith, Ark., with locations in Little Rock, Kansas City and Tulsa.