Bank7 to acquire 71% of Century for $91M
Bank7 Corp. won a court-supervised auction to acquire a 71% controlling stake in Century Financial Services for about $89 million in cash, subject to regulatory approvals.
Rhea-AI Filing Summary
Bank7 Corp. (BSVN) has been named the successful bidder for an approximately 71% controlling interest in Century Financial Services Corporation, the bank holding company for Century Bank, through a court-supervised auction conducted by a receiver. The winning bid is $91 million, including a breakup fee credit of about $2 million, for a net cash purchase price of roughly $89 million.
The shares are being sold by a court-appointed receiver in a receivership proceeding in the U.S. District Court for the District of Arizona. Closing remains subject to bank regulatory approvals and customary conditions, and is expected in the fourth quarter. Century Bank reported $1.36 billion in total assets as of June 30, 2026, and the combined organization would have about $3.4 billion in assets.
Positive
- Transformative acquisition: Bank7 Corp. will acquire an approximately 71% controlling interest in Century, creating a combined organization with about $3.4 billion in total assets upon completion.
- Scaled franchise: Century Bank adds about $1.36 billion in assets, $1.23 billion in deposits, and $845 million in gross loans as of June 30, 2026, broadening Bank7’s Southwest footprint.
Negative
- Closing and regulatory risk: Completion is subject to required bank regulatory approvals and customary closing conditions, and there is no assurance the transaction will be completed on the expected terms or timing.
- Integration and execution risk: The company cites uncertainties around integrating acquired operations and realizing anticipated cost savings, as well as exposure to interest rate, market, and economic changes.
Filing Explained
The final auction bid for Bank7’s proposed acquisition rose from
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Controlling interest in Century: Approximately 71% of Century common stock
Gross purchase price: $91 million
Net cash purchase price: Approximately $89 million
+5 more
8 metrics
Controlling interest in Century
Approximately 71% of Century common stock
Shares to be acquired by Bank7 Corp. through the receiver-led sale
Gross purchase price
$91 million
Winning bid for the Century shares, inclusive of breakup fee credit
Net cash purchase price
Approximately $89 million
Purchase price net of about $2 million breakup fee credit
Century Bank total assets
$1.36 billion
Century Bank balance sheet as of June 30, 2026
Century Bank total deposits
$1.23 billion
Century Bank deposits as of June 30, 2026
Century Bank gross loans
$845 million
Century Bank loan portfolio as of June 30, 2026
Combined total assets
Approximately $3.4 billion
Expected total assets of the combined organization upon completion
Expected closing period
Fourth quarter
Company’s expectation for when the transaction will close
Key Terms
court-supervised auction, receivership proceeding, break up credit, controlling ownership interest, +2 more
6 terms
court-supervised auction regulatory
"named the successful bidder at an auction to acquire an approximately"
A court-supervised auction is a sale of a company or its assets overseen by a judge to ensure the process is fair, transparent and follows legal rules, often occurring during bankruptcy or receivership. For investors it signals a distressed situation but can create clear timelines and competitive bidding that may reveal the assets’ true market value or offer a pathway to recover some funds, like an orderly estate sale under official oversight.
receivership proceeding regulatory
"sold by a court-appointed receiver through a court-supervised sale process in the receivership proceeding"
break up credit financial
"purchase price for the shares is $91 million, inclusive of a break up credit of approximately"
controlling ownership interest financial
"to acquire an approximately 71% controlling ownership interest in Century Financial Services"
bank regulatory approvals regulatory
"subject to the receipt of all required bank regulatory approvals and the satisfaction"
Approvals from government or banking supervisors that allow a bank to carry out specific actions—such as opening branches, offering new products, raising capital, changing ownership, or completing mergers. These permissions matter to investors because they determine whether planned growth, revenue streams or cost structures can go ahead; a grant is like a building permit that unlocks expansion, while delays or denials can reduce expected earnings, increase risks and alter a bank’s market value.
forward-looking statements regulatory
"This press release and oral statements made regarding the subject of this press release contain forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
What transaction did Bank7 Corp. (BSVN) announce regarding Century Financial Services?
Bank7 Corp. announced it was named the successful bidder at a court-supervised auction to acquire an approximately 71% controlling ownership interest in Century Financial Services Corporation, the bank holding company for Century Bank, from a court-appointed receiver.
What is the purchase price Bank7 Corp. (BSVN) will pay for the Century stake?
The purchase price is $91 million, including a breakup fee credit of about $2 million, resulting in an expected net cash purchase price of approximately $89 million for the shares acquired in the auction.
How large is Century Bank and what are its key balance sheet figures?
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, with nine branches in New Mexico and two loan production offices in Texas.
How big will Bank7 Corp. (BSVN) be after acquiring the Century interest?
Upon completion of the transaction, Bank7 Corp. states that the combined Southwest banking organization would have approximately $3.4 billion in total assets, reflecting the addition of Century’s balance sheet to Bank7’s existing operations.
When is Bank7 Corp. (BSVN) expecting to close the Century acquisition?
The transaction is expected to close in the fourth quarter, subject to receiving all required bank regulatory approvals and satisfying customary closing conditions associated with the court-supervised sale process.
What approvals and conditions still apply to Bank7 Corp.’s Century acquisition?
Completion of the acquisition remains subject to required bank regulatory approvals, court and process-related requirements in the receivership proceeding, and customary closing conditions before the transaction can be finalized.
AI-generated analysis. How Rhea-AI works. Not financial advice.
