Exhibit 99.1

	FOR IMMEDIATE RELEASE
900 S. Shackleford, Suite 401	FOR FURTHER INFORMATION CONTACT:
Little Rock, AR 72211	Matt Machen | CEO
	Sherri Billings | CFO
	501.975.6033

CORRECTING AND REPLACING

Bear State Financial, Inc. Announces Full Year 2017 Earnings

Little Rock, AR – February 15, 2018 – Bear State Financial, Inc. has issued the following corrected press release to replace the one disseminated on January 18, 2018. The corrected release reads as follows:

Bear State Financial, Inc. Announces Full Year 2017 Earnings

FINANCIAL HIGHLIGHTS:

Bear State Financial, Inc. (the “Company,” NASDAQ: BSF), announced earnings of $4.6 million and earnings per diluted common share of $0.12 in the fourth quarter of 2017, compared to earnings of $4.8 million or $0.13 per diluted common share in the fourth quarter of 2016. Core earnings for the fourth quarter of 2017 were $6.6 million or $0.17 per diluted common share compared to core earnings of $4.9 million or $0.13 per diluted common share in the fourth quarter of 2016. In the fourth quarter of 2017, the Company was required to revalue its deferred tax assets and deferred tax liabilities as a result of the “Tax Cuts and Jobs Act” signed into law on December 22, 2017. The impact was a one-time, non-cash charge to income tax provision on the income statement of approximately $2.5 million.

For the full year of 2017, net income was $21.3 million and earnings per diluted common share was $0.56 compared to net income of $17.5 million or $0.46 per diluted common share for the full year of 2016. Core earnings for the full year of 2017 were $24.6 million or $0.65 per diluted common share compared to core earnings of $16.9 million or $0.45 per diluted common share for the full year of 2016.

On August 22, 2017, the Company and Bear State Bank entered into an Agreement and Plan of Reorganization with Arvest Bank, an Arkansas banking corporation (“Arvest”), and Arvest Acquisition Sub, Inc., an Arkansas corporation and a wholly-owned subsidiary of Arvest (“Acquisition Sub”), pursuant to which Arvest will acquire the Company and Bear State Bank (the “Merger”).

Pursuant to the Agreement, each share of the Company’s common stock issued and outstanding as of the effective time of the Merger will be converted into a right to receive $10.28 per share, payable in cash. The Merger is expected to close in the first quarter of 2018 and is pending federal regulatory approval. At a Special Meeting of Shareholders of the Company held November 15, 2017, the proposal to adopt the Agreement and to approve the Merger was approved by shareholders of the Company.

FINANCIAL CONDITION

Total assets were $2.16 billion at December 31, 2017, a 5% increase compared to $2.05 billion at December 31, 2016. The increase in total assets was primarily due to increases in investment securities and loans. Total loans were $1.67 billion at December 31, 2017, an increase of $117.0 million, or 8%, compared to December 31, 2016 and investment securities were $239.6 million at December 31, 2017, an increase of $24.1 million, or 11%, compared to December 31, 2016. Total deposits were $1.50 billion at December 31, 2017, a 9% decrease compared to $1.64 billion at December 31, 2016.

Total stockholders’ equity was $253.2 million at December 31, 2017, an 8% increase from $233.4 million at December 31, 2016. Tangible common stockholders’ equity was $203.6 million at December 31, 2017, an 11% increase from $182.9 million at December 31, 2016. Book value per common share was $6.70 at December 31, 2017, an 8% increase from $6.21 at December 31, 2016. Tangible book value per common share was $5.39 at December 31, 2017, an 11% increase from $4.86 at December 31, 2016. The Company’s ratio of total stockholders’ equity to total assets increased to 11.72% at December 31, 2017, compared to 11.37% at December 31, 2016. The calculation of the Company’s tangible book value per common share and tangible common stockholders’ equity and the reconciliation of such non-GAAP financial measures to the most comparable GAAP measures are included in the schedules accompanying this release.

RESULTS OF OPERATIONS

The Company recognized fourth quarter 2017 net income of $4.6 million or $0.12 per diluted common share compared to net income of $4.8 million or $0.13 per diluted common share in the fourth quarter of 2016, resulting in a return on average assets of 0.82% in the fourth quarter of 2017, compared to 0.95% in the fourth quarter of 2016. Calculation of net income in accordance with GAAP includes what the Company considers “non-core” items, which are items that we do not consider indicative of our core operating performance and which are not necessarily comparable from year to year. The Company reports core earnings, which is a non-GAAP financial measure that the Company defines as GAAP net income less non-core items. The reconciliation of GAAP net income to core earnings together with related financial measures and ratios is included in the schedules accompanying this release.

Fourth quarter 2017 core earnings totaled $6.6 million or $0.17 per diluted common share, compared to core earnings of $4.9 million or $0.13 per diluted common share in the fourth quarter of 2016. For the fourth quarter of 2017 and 2016, respectively, the core return on average assets measured 1.18% and 0.95%, core return on average equity measured 10.40% and 8.23% and core return on average tangible equity measured 12.94% and 10.50%. Non-core items during the fourth quarter of 2017 included transaction-related expenses incurred in connection with the pending transaction with Arvest totaling $677,000, a claim on bank owned life insurance of $909,000 and a deferred tax asset adjustment of $2.5 million. The effect of non-core items, net of taxes, decreased GAAP net income by approximately $2.0 million for the fourth quarter of 2017.

Net interest income for the fourth quarter of 2017 was $18.9 million compared to $17.1 million for the same period in 2016. Net interest income for the year ended December 31, 2017 was $75.5 million, compared to $67.5 million for the same period in 2016. Interest income for the fourth quarter of 2017 was $22.0 million compared to $19.2 million for the same period in 2016. Interest income for the year ended December 31, 2017 was $86.3 million compared to $75.4 million for the same period in 2016. The increases in interest income for the three and twelve months ended December 31, 2017 compared to the same periods in 2016 were primarily related to increases in the average balances of and the yields earned on loans receivable and investment securities. Interest expense for the fourth quarter of 2017 was $3.1 million compared to $2.1 million for the same period in 2016. Interest expense for the year ended December 31, 2017 was $10.7 million compared to $7.9 million for the same period in 2016. The increases in interest expense for the three and twelve months ended December 31, 2017 compared to the same periods in 2016 were primarily due to increases in the average balance of borrowings and increases in the average rate paid on deposits.

Net interest margin measured 3.67% for the fourth quarter of 2017, compared to 3.75% for the same period in 2016. Net interest margin for the year ended December 31, 2017 was 3.79%, compared to 3.85% for the same period in 2016. The average yield on interest-earning assets for the fourth quarter of 2017 was 4.27% compared to 4.21% for the same period in 2016 and was 4.33% for the year ended December 31, 2017 compared to 4.30% for the same period in 2016. The average cost of interest-bearing liabilities increased to 0.70% for the fourth quarter of 2017, compared to 0.54% for the same period in 2016. The average cost of total interest-bearing liabilities for the year ended December 31, 2017 was 0.63%, compared to 0.53% for the same period in 2016.

Noninterest income is generated primarily through deposit account fee income, profit on sale of mortgage loans, and earnings on life insurance policies. Total noninterest income for the three months ended December 31, 2017 increased to $4.7 million from $4.4 million for the same period in 2016, a 6% increase. Total noninterest income of $17.7 million for the year ended December 31, 2017 increased from $16.7 million for the same period in 2016, a 6% increase. The increase in the three and twelve month comparison periods was primarily due to increases in deposit fee income and earnings on bank owned life insurance, partially offset by a decrease in gain on sales of loans due to a decrease in the number of loans sold during the periods.

Total noninterest expense decreased $667,000, or 5%, for the fourth quarter of 2017 compared to the fourth quarter of 2016. Total noninterest expense decreased $2.9 million or 5% during the year ended December 31, 2017 compared to the same period in 2016. The decrease in total noninterest expense for the three and twelve month comparative periods was primarily related to the Company’s efforts to improve its operational efficiency as well as a decrease in the number of branches.

Income tax provision increased by $3.4 million, or 153%, for the fourth quarter of 2017 compared to the fourth quarter of 2016, primarily due to a $2.5 million revaluation of deferred tax assets and liabilities to account for the future impact of lower corporate tax rates as a result of the “Tax Cuts and Jobs Act” signed into law on December 22, 2017. Income tax provision for the year ended December 31, 2017 increased by $6.1 million or 89% compared to 2016, primarily due to the tax rate revaluation of the deferred tax asset as well as an increase in taxable income in 2017 partially offset by the recording of a valuation allowance reversal of $897,000 on deferred tax assets in the second quarter of 2016. The Company’s effective tax rate for the quarter ended December 31, 2017 (excluding the tax rate revaluation of the deferred tax asset) was 32.50% compared to 31.20% for the quarter ended December 31, 2016. The Company’s effective tax rate for the year ended December 31, 2017 (excluding the tax rate revaluation of the deferred tax asset) was 31.86% compared to 31.90% for the year ended December 31, 2016 (excluding the valuation allowance reversal).

ASSET QUALITY

The ratio of nonperforming assets to total assets decreased to 0.87% at December 31, 2017, compared to 0.94% at December 31, 2016. The allowance for loan losses represented 1.14% of total loans at December 31, 2017 compared to 1.00% at December 31, 2016. The ratio of the allowance for loan losses to nonperforming loans was 111% at December 31, 2017, compared to 90% at December 31, 2016. Annualized net charge-offs as a percentage of average loans for the quarter ended December 31, 2017 was 0.04% compared to 0.10% for the quarter ended December 31, 2016. Provision for loan losses decreased from $851,000 for the fourth quarter of 2016 to $464,000 for the fourth quarter of 2017. Provision for loan losses for the year ended December 31, 2017 increased to $4.5 million from $2.5 million for 2016. The increase in the provision for the year was primarily attributable to loan originations and migration of acquired loans from the purchased loan portfolio to the originated loan portfolio.

About Bear State Financial, Inc.

Bear State Financial, Inc. is the parent company for Bear State Bank. Bear State Financial, Inc. common stock is traded on the NASDAQ Global Market under the symbol BSF.  For more information on Bear State Financial, Inc. please visit www.bearstatefinancial.com. Its principal subsidiary, Bear State Bank, is a community oriented financial institution providing a broad line of financial products to individuals and business customers.  Bear State Bank operates 42 branches, three personalized technology centers equipped with interactive teller machines and three loan production offices throughout Arkansas, Southwest Missouri and Southeast Oklahoma.

Non-GAAP Financial Measures

This release contains certain non-GAAP financial measures in addition to results presented in accordance with accounting principles generally accepted in the United States (“GAAP”). These non-GAAP measures provide supplemental perspectives on operating results, performance trends, and financial condition. They are not a substitute for GAAP measures and they should be read and used in conjunction with the Company’s GAAP financial information. In all cases, it should be understood that non-GAAP per share measures do not depict amounts that accrue directly to the benefit of shareholders. The Company utilizes the non-GAAP measure of core earnings, which management believes is useful in evaluating operating trends from period to period, including components of core revenue and core expense. Core earnings and its components exclude amounts that the Company views as unrelated to its normalized operations. Management and the Board of Directors also utilize core earnings or components of core earnings and related ratios in the preparation of the Company’s operating budgets, monthly financial performance reporting and investor presentations of Company performance and in the calculation of annual performance-based incentives for certain members of management. In 2016, the Company modified its definition of core earnings to clarify that a material amount of net gains, losses or impairments to the Company’s real estate owned (“REO”) portfolio during an applicable reporting period will be considered a non-core item and will thus be excluded from core earnings. Immaterial net gains, losses and impairments to the REO portfolio, however, will not be considered a non-core item and will not be excluded from core earnings. The Company believes that while activity within the REO portfolio is a recurring aspect of its core business, material changes to the portfolio are not indicative of the Company’s normalized banking operations.

The Company also reports certain non-GAAP equity measures (including tangible stockholders’ equity, tangible book value per common share and related ratios) that exclude intangible assets from their calculation. Management believes that these non-GAAP tangible measures provide additional useful information about the capital strength of the Company to the investment community, as these measures are widely used by industry analysts for banks and bank holding companies with prior merger and acquisition activity. A reconciliation of non-GAAP financial measures to GAAP measures is included in the accompanying financial tables.

Forward-Looking Statements

This press release contains statements about future events that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “plan,” “intend,” “anticipate,” “expect,” or similar terms or variations of those terms, or the negative of those terms. These forward-looking statements include, without limitation, statements relating to the terms and closing of the proposed transaction between the Company and Arvest.  Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those risks previously disclosed in the Company’s filings with the SEC; the Company’s and Arvest’s ability to consummate the Merger or satisfy the conditions to the completion of the Merger, the failure of the proposed Merger to close for any other reason; occurrence of any event, change or other circumstances that could give rise to the termination of the Agreement; the effect of the announcement of the Merger on customer relationships and operating results (including, without limitation, difficulties in maintaining relationships with employees or customers); the diversion of management time on transaction related issues;  general economic conditions, changes in interest rates, regulatory considerations, competition, technological developments, retention and recruitment of qualified personnel, and market acceptance of Bear State Bank’s pricing, products and services, and with respect to the loans extended by Bear State Bank and real estate owned, market prices of the property securing loans and the costs of collection and sales. The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

(1) Includes nonaccrual loans. 

(2) Includes FHLB and FRB stock.

14