Exhibit 99.1

           Superior Financial Corp. Announces Sale to Arvest


    LITTLE ROCK, Arkan.--(BUSINESS WIRE)--May 16, 2003--Superior
Financial Corp. (NASDAQ: SUFI) announced today that it has entered
into a definitive agreement to affiliate with Arvest Holdings, Inc., a
wholly owned subsidiary of Arvest Bank Group, Inc. Under the terms of
the agreement, shareholders of Superior Financial will receive $23.75
for each share of common stock upon completion of the transaction. The
aggregate value of the transaction, including the cash out of
outstanding stock options, is approximately $211 million. Shareholders
will continue to receive dividends in accordance with the company's
past practice until closing.
    Superior Financial Corp., with total assets of $1.75 billion at
March 31, 2003, will become a wholly owned subsidiary of Arvest
Holdings, Inc., which had total assets of $ 4.9 billion at March 31,
2003. The transaction is subject to approvals by the shareholders of
Superior Financial and regulatory authorities and other conventional
contingencies. In connection with the proposed transaction, certain
members of Superior's senior management have agreed to enter into
employment, consulting and non-competition agreements.
    The transaction is expected to close following the receipt of
required approvals. Following the closing, it is anticipated that the
operations of Superior Bank, Superior Financial's subsidiary financial
institution, will be consolidated into those of Arvest Bank, the
banking subsidiary of Arvest Holdings. Superior Bank currently
operates 68 branches and loan production offices in Arkansas, Oklahoma
and Alabama. At March 31, 2003, it had total deposits of $1.25
billion. Arvest Bank, with total deposits of $ 4.3 billion at March
31, 2003, currently operates with 133 branches throughout Arkansas,
Oklahoma and Southern Missouri.
    Stephens Inc. served as Superior's financial advisor in the
transaction.
    This release is not a solicitation of proxies on behalf of the
Board of Directors. Information describing the proposed transaction
will be provided to shareholders in a Proxy Statement on Schedule 14A
to be filed with the Commission and supplied to shareholders in
advance of any meeting called to approve the transaction. Copies of
the Proxy Statement, when filed, will be available at no cost at the
Commission's website, www.sec.gov, or from the Company at its
corporate office: 16101 LaGrande Drive, Suite 103, Little Rock, AR
72223.
    CAUTIONARY STATEMENT PURSUANT TO SAFE HARBOR PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:
    This release contains forward looking statements within the
meaning of the federal securities laws. The forward looking statements
in this release are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by the statements. Factors that may cause results or outcomes
to differ materially from those contemplated by such forward looking
statements include, among other things, the following possibilities:
(i) changes in the financial condition of the parties, changes in the
economy generally, or in changes in the financial services industry
that could adversely affect the willingness or ability of the parties
to consummate the proposed transactions; (ii) changes in the
regulatory environment that could impede or prevent the consummation
of the proposed transactions; (iii) adverse developments in pending
litigation; and (iv) other events beyond the control of the parties
that prevent the consummation of the proposed transactions. When used
in this release, the words "anticipate, expect, believe, may, might,
will" and similar expressions are intended to identify forward looking
statements.


    CONTACT: Superior Financial Corp.
             Robert A. Kuehl, 501/324-7255
             Website: www.superiorfinancialcorp.com