Bank7 Announces Acquisition of First American Mortgage, Inc.

Rhea-AI Summary

Bank7 (BSVN) has announced the acquisition of First American Mortgage, Inc., a residential mortgage lending services provider with over 30 years of industry experience. The strategic acquisition aims to enhance Bank7's mortgage division and expand its comprehensive financial solutions.

Under the leadership of Dale Bogle, First American Mortgage has built a strong reputation for providing tailored lending solutions and exceptional customer service. The merger will combine both companies' expertise, streamline processes, and expand the network of lending professionals to better serve customers across Bank7's growing service areas.

Jason Estes, President and CCO of Bank7, expressed excitement about joining forces with Dale's team of professionals, highlighting First American Mortgage's track record of high performance and customer service. The acquisition aligns with Bank7's growth strategy and strengthens its position as a community-focused financial institution.

Positive

• Strategic expansion of mortgage lending capabilities
• Integration of 30+ years of First American Mortgage expertise
• Enhanced service network and operational efficiency
• Retention of experienced leadership team

Negative

• None.

OKLAHOMA CITY, Feb. 28, 2025 /PRNewswire/ -- Bank7 is privileged to announce the acquisition of First American Mortgage, Inc., a well-established provider of residential mortgage lending services. This strategic move further enhances Bank7's mortgage division and illustrates our continued commitment to delivering comprehensive financial solutions to customers across its growing service areas.

First American Mortgage, Inc. was founded more than 30 years ago, quickly establishing it as a trusted leader in the mortgage industry. Under the leadership of Dale Bogle, First American Mortgage has earned a reputation for delivering tailored lending solutions and exceptional customer service. Today, by leveraging First American Mortgage's expertise and resources, Bank7 is further enhancing its ability to meet the diverse and evolving needs of individuals, families, and businesses in the communities it serves.

"We're excited to expand Bank7 by joining with Dale and his great team of professionals. Under Dale's leadership, First American Mortgage has always been a high touch and high performing mortgage company, and we are honored to move forward together to better serve customers of both companies." said Jason Estes, President and CCO of Bank7.

"First American Mortgage has always been committed to providing exceptional service and streamlined mortgage solutions. Partnering with Bank7 allows us to enhance our offerings while maintaining the same dedication to our clients and referral partners. We're excited for this next chapter and the opportunities it brings," said Dale Bogle, President and Owner of First American Mortgage.

The acquisition aligns with Bank7's commitment to growth and innovation, solidifying its position as a leading community-focused financial institution. Customers of both Bank7 and First American Mortgage, Inc. will benefit from the combined expertise, streamlined processes, and expanded network of lending professionals.

About Bank7

Bank7 is headquartered in Oklahoma City, Oklahoma and operates twelve locations in Oklahoma, the Dallas/Fort Worth, Texas metropolitan area, and Kansas. We are focused on serving business owners and entrepreneurs by delivering fast, consistent, and well-designed loan and deposit products to meet their financing needs. We intend to grow organically by selectively opening additional branches in our target markets and we will also pursue strategic acquisitions.

About First American Mortgage, Inc.

First American Mortgage is locally owned and operated since 1993. With a track record of over 32 years, First American Mortgage has facilitated over $3 billion in funding, assisting approximately 18,000 families in achieving home ownership.

For media inquiries, please contact:

Jason Estes, President and CCO

405-810-7270 | jason.estes@bank7.com 

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SOURCE Bank7

FAQ

What are the terms of Bank7's (BSVN) acquisition of First American Mortgage?

The specific financial terms and transaction value of the acquisition were not disclosed in the announcement.

How will the First American Mortgage acquisition impact Bank7's (BSVN) mortgage services?

The acquisition will enhance Bank7's mortgage division by combining expertise, streamlining processes, and expanding its network of lending professionals.

What is the strategic rationale behind Bank7's (BSVN) acquisition of First American Mortgage?

The acquisition aims to enhance Bank7's mortgage division, expand its financial solutions, and strengthen its position as a community-focused financial institution.

Who will lead First American Mortgage following the Bank7 (BSVN) acquisition?

The announcement indicates Dale Bogle, First American Mortgage's President and Owner, will continue with the combined organization.