April 29, 2022
IN STRATEGIC REALIGNMENT, VAST BANK, N.A. ANNOUNCES DIVESTITURE OF BIXBY LOCATION TO ARMSTRONG BANK
Vast Bank, N.A. (“Vast Bank”) and Armstrong Bank are excited to announce an agreement to transition ownership of Vast Bank’s Bixby branch to Armstrong Bank. This branch sale is the most recent of a series of similar transactions between Vast Bank and Armstrong Bank in the next step of both banks’ strategic plans.
Armstrong Bank, headquartered in Muskogee, Oklahoma, brings a strong history of personal community banking to many communities across Oklahoma and Arkansas, exemplifying family values and a community focus within each local branch. Bixby customers will become the newest members of this community, where they will receive the personalized touch from banking experts who are neighbors with their customers.
“We are thrilled to continue expanding our footprint in Oklahoma with the addition of this Bixby location,” said CEO of Armstrong Bank, Billy Taylor. “As a family-owned community bank established in 1909, we are honored to bring our unwavering integrity, exceptional customer service, and access to innovative financial products to the Bixby community.”
What Vast Bank’s Bixby customers need to know:
The current Vast Bank customers of the Bixby branch will receive additional information regarding their account and transaction details in the near future. The agreement is expected to be completed by August 2022, subject to regulatory approvals. At this time, all other Vast Bank locations will remain unchanged and under the same ownership of the Biolchini family.
Vast Bank remains committed to the innovative people who make this community such a vibrant place to live and work. The move to consolidate physical branches allows Vast to focus on great customer service where there is the greatest demand. They plan to continue offering experiences that are relevant, convenient, comprehensive, and secure in order to make banking surprisingly easy. Vast Bank offers four local branch locations in the Tulsa area, and additionally makes services available for personal, business, and crypto banking online and in the Vast Bank app for customers nationwide.
“We are keeping our promise to understand customers deeply, build authentic relationships and embrace constant improvement. Our commitment remains to be a market-leading bank that leverages top-notch customer service with the best of modern technology,” said Vast Bank President and CEO Brad Scrivner. “Vast Bank is focused on making banking surprisingly easy for customers as their preferences for accessing financial services changes rapidly. To best align delivery of our services we are honing our strategy on consolidating and strengthening our physical branch locations for our local customers while expanding and innovating our online banking offerings for our national customers.”
About Armstrong Bank
Since 1909, Armstrong Bank has taken pride in providing exceptional customer service. As a family-oriented bank with nearly 30 locations across Oklahoma and Arkansas, our banking experts live and work in the communities that they serve. Armstrong employees dedicate their time and talents to a wide variety of community organizations and are always working to exceed community and customer expectations. Member FDIC. Equal Housing Lender. For more information, please visit www.armstrong.bank.
About Vast Bank
Vast Bank is a family-owned, multigenerational financial institution based in northeast Oklahoma that takes pride in personalized customer service, flexibility, trust, and community involvement. With almost four decades of service, Vast Bank continues to build on a legacy of strength and integrity for its customers by offering unique products, competitive rates, and quick, local decision-making that has helped it stand apart. Vast Bank is a nationally chartered bank regulated by the Office of the Comptroller of the Currency, a division of the U.S. Department of Treasury. For more information, visit www.vast.bank.
Financial and Legal Advisors
D.A. Davidson & Co. served as financial advisor and Fenimore, Kay, Harrison, & Ford, LLP served as legal advisor to Vast Bank. McAfee & Taft served as legal advisor to Armstrong Bank.
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