Bank7 Corp. Named Successful Bidder in the Auction for a Controlling Interest in Century Financial Services Corporation

Bank7 agrees to buy a 71% controlling stake in Century Financial Services, creating a Southwest bank group with about $3.4 billion in assets, subject to approvals.

Rhea-AI Summary

Bank7 Corp (BSVN) has been named the successful bidder to acquire an approximately 71% controlling ownership interest in Century Financial Services Corporation, parent of Century Bank, for a gross purchase price of $91 million, including a break-up credit of about $2 million, implying a net cash price of roughly $89 million.

The shares are being sold by a court-appointed receiver through a court-supervised sale process. Closing remains subject to bank regulatory approvals and customary conditions and is expected in the fourth quarter. Century Bank had $1.36 billion in assets as of June 30, 2026, and the combined organization would have about $3.4 billion in assets across the Southwest.

Positive

• Controlling 71% stake in Century via court-supervised auction, expanding Bank7’s ownership into a new bank holding company
• Net cash purchase price of approximately $89 million for the controlling interest after a $2 million break-up credit
• Combined assets for Bank7 and Century are expected to total about $3.4 billion upon completion
• Geographic expansion through Century Bank’s nine New Mexico branches and two Texas loan production offices

Negative

• Transaction closing is contingent on receiving all required bank regulatory approvals and satisfying customary closing conditions

News Explained

The auction outcome is not yet closed: Bank7 would pay approximately $89 million in net cash for a 71% controlling interest in Century, versus $220.585 million of cash and equivalents reported at June 30, 2026.

Argus Sep 4 session 22 alerts

+9.49% close to close 2.6x rel. volume Open Argus

Details

News Market Reaction – BSVN

+5.2% Peak in 6 hr 27 min

$550.61M Mkt Cap at Peak Alert

On Sep 4, the first trading day after this news, BSVN closed 9.49% above the previous close. Argus tracked a peak move of +5.2% during that session. Our momentum scanner recorded 22 alerts for this stock that day. Relative volume reached 2.6x the daily average during tracking.

Data tracked by StockTitan Argus for the Sep 4 session.

Key Figures

Controlling interest: 71% Purchase price: $91 million Breakup credit: $2 million +5 more

Controlling interest

71%

Century Financial Services Corporation

Purchase price

$91 million

Shares being acquired

Breakup credit

$2 million

Included in purchase price

Net cash purchase price

$89 million

After breakup credit

Expected closing

Fourth quarter

Transaction timing

Century total assets

$1.36 billion

As of June 30, 2026

Century total deposits

$1.23 billion

As of June 30, 2026

Combined total assets

$3.4 billion

Upon transaction completion

Historical Context

5 past events · Latest: Aug 20

5 events

1. Aug 20

   Dividend increase

   24h Move

   +0.7%

   Quarterly dividend increased to $0.30 from $0.27 per share.

2. Jul 16

   Q2 earnings report

   24h Move

   -2.5%

   Lower net income and EPS included a loss on energy-asset sales.

3. Jul 07

   Earnings call notice

   24h Move

   +1.5%

   The company scheduled its Q2 results release and investor conference call.

4. Jul 02

   Century acquisition agreement

   24h Move

   +2.8%

   Agreement covered a 71% controlling interest and a projected $3.4 billion asset base.

5. Jun 04

   Dividend declaration

   24h Move

   +3.2%

   Board declared a $0.27 quarterly cash dividend per common share.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

bank holding company, court-appointed receiver, court-supervised sale process, loan production offices

4 terms

bank holding company financial

"the Santa Fe, New Mexico-based bank holding company for Century Bank"

A bank holding company is a parent corporation that owns one or more banks and other financial businesses, like a household that controls several shops under the same roof. Investors care because this structure determines how the business is regulated, how it raises capital, pays dividends, and absorbs losses; it can make a banking group safer or riskier and affects the value and liquidity of the company’s shares.

court-appointed receiver regulatory

"The shares are being sold by a court-appointed receiver"

A court-appointed receiver is a neutral person or firm a judge assigns to take control of a company’s assets, operations, or property while legal disputes or insolvency proceedings are resolved. Like a court-ordered property manager stepping in to protect value, a receiver can run the business, sell assets, or collect proceeds for creditors—an action that can reduce or eliminate equity value and signals legal or financial distress important for investors to watch.

court-supervised sale process regulatory

"through a court-supervised sale process in the receivership proceeding"

A court-supervised sale process is a legally overseen method for selling a company's assets or business, typically used when a company is in financial distress or bankruptcy. Think of it like a legally managed estate sale where a judge and creditors set the rules to ensure assets are sold fairly and transparently; investors care because the process affects how much creditors and shareholders recover, the timeline for payouts, and whether the business continues under new ownership.

loan production offices financial

"complemented by two loan production offices in Texas"

Loan production offices are small branches that focus on finding, interviewing and processing loan applications but typically do not take deposits or offer full banking services; think of them as a lender’s storefront that generates loan business without a full back-office bank branch. Investors watch them because they signal a bank’s strategy to grow lending in new areas with lower upfront cost, which can boost revenue but may raise oversight, credit quality and regulatory risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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OKLAHOMA CITY, Sept. 3, 2026 /PRNewswire/ -- Bank7 Corp. (NASDAQ: BSVN) (the "Company"), the parent company of Oklahoma City-based Bank7, today announced that it has been named the successful bidder at an auction to acquire an approximately 71% controlling ownership interest in Century Financial Services Corporation ("Century"), the Santa Fe, New Mexico-based bank holding company for Century Bank. The purchase price for the shares is $91 million, inclusive of a break up credit of approximately $2 million, resulting in a net cash purchase price of approximately $89 million.

As previously disclosed, the shares are being sold by a court-appointed receiver through a court-supervised sale process in the receivership proceeding captioned KS StateBank Corporation v. Peters, et al., pending in the U.S. District Court for the District of Arizona.

Completion of the transaction is still subject to the receipt of all required bank regulatory approvals and the satisfaction of customary closing conditions. The transaction is expected to close in the fourth quarter.

Founded in 1887, Century Bank operates nine branches across New Mexico, complemented by two loan production offices in Texas. As of June 30, 2026, Century Bank reported total assets of $1.36 billion, total deposits of $1.23 billion, and gross loans of $845 million. Upon completion, the transaction would create a combined Southwest banking organization with approximately $3.4 billion in total assets.

"We are looking forward to completing this transaction and working closely with the employees, customers, and communities served by Century," said Thomas L. Travis, President and CEO of the Company.

About Bank7 Corp.

We are Bank7 Corp., a bank holding company headquartered in Oklahoma City, Oklahoma. Through our wholly-owned subsidiary, Bank7, we operate 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.

Forward-Looking Statements

This press release and oral statements made regarding the subject of this press release contain forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the proposed acquisition of a controlling interest in Century, the expected terms, timing, and benefits of the transaction, and the anticipated financial and strategic impact on the combined organization. These statements are subject to significant uncertainties, including, among others, the outcome of the court-supervised bidding and auction process; the possibility that a higher or better competing bid may be selected; the ability to obtain required court and bank regulatory approvals; the satisfaction of closing conditions; the ability to successfully and efficiently integrate the acquired operations and realize anticipated cost savings; the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; and changes in regulatory standards and examination policies. Forward-looking statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends," and similar words or phrases. Any or all of the forward-looking statements in this press release may turn out to be inaccurate, and there can be no assurance that the proposed transaction will be completed on the terms described, or at all. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Contact:
Thomas Travis
President & CEO
(405) 810-8600

View original content to download multimedia:https://www.prnewswire.com/news-releases/bank7-corp-named-successful-bidder-in-the-auction-for-a-controlling-interest-in-century-financial-services-corporation-302869450.html

SOURCE Bank7 Corp.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What acquisition did Bank7 Corp (BSVN) announce involving Century Financial Services Corporation?

Bank7 Corp announced it was named the successful bidder to acquire an approximately 71% controlling ownership interest in Century Financial Services Corporation, the Santa Fe-based bank holding company for Century Bank, through a court-supervised auction process.

How much is Bank7 Corp (BSVN) paying for its 71% stake in Century Financial Services Corporation?

The purchase price is $91 million, which includes a break-up credit of about $2 million, resulting in a net cash purchase price of approximately $89 million for the controlling interest in Century.

When is the Century acquisition by Bank7 Corp (BSVN) expected to close?

Completion of the Century transaction is expected in the fourth quarter, subject to receipt of all required bank regulatory approvals and the satisfaction of customary closing conditions.

What are Century Bank’s key financials before the Bank7 Corp (BSVN) acquisition?

As of June 30, 2026, Century Bank reported $1.36 billion in total assets, $1.23 billion in total deposits, and $845 million in gross loans.

How large will the combined Bank7 Corp (BSVN) and Century organization be after closing?

Upon completion of the transaction, the combined organization is expected to be a Southwest banking group with approximately $3.4 billion in total assets, according to the company.

Where does Century Bank, being acquired by Bank7 Corp (BSVN), currently operate?

Century Bank operates nine branches across New Mexico and maintains two loan production offices in Texas, providing Bank7 with an expanded Southwest footprint if the transaction is completed.