Keep your damn federal funds
Arkansas-based Arvest Bank will not be participating in the Great Treasury Grab. From the bank’s blog:
You have likely seen updates in the national news about banks who have announced that they are accepting government funding through the Capital Purchase Program (“CPP”). Arvest is well capitalized and has a strong balance sheet. Funding through this program is not necessary. An announcement was released on Wednesday, Nov 26 announcing that we will not seek the federal funding.
I’m trying to decide which is cooler: the fact that Arvest told the Treasury to take a hike, or the fact that they posted this on the official bank blog.
Rita »
12 December 2008 · 7:17 pm
That’s why we bank there. Old-fashioned small town banking is hard to beat.