TULSA — Arvest Equipment Finance (AEF), a division of Arvest Bank, has been recognized by MonitorDaily, a leading publication of the equipment leasing and finance industry.
The publication recently released the 2019 Monitor 100, its annual ranking of the largest equipment finance/leasing companies in the United States. AEF climbed one spot to No. 83 after being ranked 84th last year. This is the fifth consecutive year AEF has been ranked on the list, and seventh time in the last eight years.
AEF ended 2018 with $310.1 million in loans and leases. That’s up 24.7 percent from 2017’s $248.6 million, according to MonitorDaily.
Additionally, AEF climbed from No. 89 to No. 82 in overall annual production. The move is largely the result of a 51.5 percent increase in new business volume, which went from $106.6 million in 2018 to $161.5 million in 2019.
“I am so proud of this team and what we have accomplished as a group,” AEF president Eric Bunnell said. “We strive for excellence every day in helping customers with their equipment finance needs, and our associates take a lot of pride in being recognized as one of the top equipment finance companies in the United States.
“As we continue to grow, we are expanding our calling efforts to new dealer relationships outside the Arvest footprint. We are in the early stages of developing these new relationships but we are excited about the future of AEF. Through June, we have closed $105 million, which is an increase of 41.5 percent from the same period in 2018.”