Bank7 Corp. Announces Agreement to Acquire Controlling Interest in Century Financial Services Corporation

Bank7 Corp. has announced a definitive Stock Purchase Agreement to acquire a 71% controlling ownership interest in Century Financial Services Corporation, the parent company of Century Bank, based in Santa Fe, New Mexico. The deal, which is valued at an undisclosed amount, is part of a court-supervised sale process and is expected to close in the third quarter of 2026, pending regulatory approvals and the outcome of a competitive bidding process.

This acquisition marks a strategic expansion for Bank7, extending its footprint into New Mexico and enhancing its presence in the Southwest region. Bank7, headquartered in Oklahoma City, operates a network of branches across Oklahoma, Texas, and Kansas. By acquiring Century Financial Services, which operates nine branches in New Mexico and two loan production offices in Texas, Bank7 aims to create a combined organization with approximately $3.4 billion in total assets. This expansion is particularly focused on the Santa Fe market, which complements Bank7's existing operations and allows for a more comprehensive service offering to regional business owners and entrepreneurs.

The transaction is structured as a "stalking horse" bid, meaning Bank7 has set the initial bid that establishes the floor price for the sale. This process allows for other potential buyers to submit higher offers, ensuring a competitive auction environment. The agreement is subject to court approval as well as the receipt of necessary bank regulatory approvals. Should the acquisition proceed as planned, Bank7 intends to retain the Century brand, allowing existing customers to continue their relationships with familiar banking representatives.

The strategic rationale behind this acquisition includes the disciplined use of Bank7's excess capital, which the company believes can generate stronger long-term returns compared to other options such as share buybacks or dividends. Additionally, the acquisition is expected to enhance customer service by leveraging Century's established, relationship-driven banking model that has served New Mexico communities for generations.

In the broader context, this transaction reflects ongoing consolidation trends within the banking sector, particularly in regional markets. As financial institutions seek to expand their geographic reach and service offerings, similar acquisitions are likely to continue, driven by the need for scale and the pursuit of efficiency. The successful integration of Century Financial Services into Bank7's operations could set a precedent for future transactions in the Southwest, as banks look to capitalize on the growing demand for personalized banking services in underserved markets.