Bank7 Corp. Agrees to Acquire 71% of Century Financial Services in Court-Supervised Deal

Bank7 Corp., the parent company of Oklahoma City-based Bank7, announced on July 2, 2026, that it has entered into a definitive stock purchase agreement to acquire an approximately 71% controlling ownership interest in Century Financial Services Corporation, the Santa Fe-based holding company for Century Bank. The deal, which aims to extend Bank7's franchise into New Mexico, is structured as a court-supervised sale.

The shares are being sold by a court-appointed receiver as part of a separate legal proceeding, KS StateBank Corporation v. Peters, et al., which is pending in the U.S. District Court for the District of Arizona. In this arrangement, Bank7 has agreed to act as the "stalking horse" bidder, establishing the initial floor price and terms for the sale of the controlling stake.

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The stalking horse designation gives Bank7 a strategic advantage, including the right to match any higher or better offers that may emerge during a competitive bidding and auction process. However, it also means the acquisition is not guaranteed. The entire transaction is subject to the solicitation of competing bids and requires final approval from the court overseeing the receivership. This structure introduces a layer of uncertainty until the auction process concludes and the court provides its final ruling.

The acquisition represents a significant strategic move for Bank7 Corp. (NASDAQ: BSVN), marking its entry into the New Mexico banking market. Century Bank is an established institution with a strong local presence, operating nine branches across New Mexico and two loan production offices in Texas. According to financial data from March 31, 2026, Century Bank holds approximately $1.35 billion in total assets.

If the transaction is completed as planned, the combined entity would be a formidable regional player. The post-acquisition organization is projected to hold approximately $3.4 billion in total assets, significantly increasing Bank7's scale and market reach throughout the Southwest. This expansion would allow Bank7 to leverage Century's existing customer base and deposit share in key New Mexico markets while introducing its own products and services to a new clientele.

Beyond the court's approval and the potential for competing bids, the deal faces several other conditions before it can close. Both companies must secure all required approvals from federal and state bank regulators. These regulatory bodies will scrutinize the deal's potential impact on market competition, the financial stability of the combined institution, and its ability to serve the community's needs. The transaction is also subject to the satisfaction of other customary closing conditions that are standard in agreements of this nature.

The involvement of a court-appointed receiver suggests the shares of Century Financial Services Corporation became available due to legal disputes or other issues involving the previous majority owners, a situation separate from the operational health of Century Bank itself. This context adds another dimension to the due diligence process for Bank7 and any other potential bidders, who must assess not only the bank's fundamentals but also the legal intricacies of the sale.

The transaction is expected to close in the third quarter of 2026, according to company statements. In the coming weeks, market observers and stakeholders will be closely watching the court-supervised auction process for any competing offers for the controlling stake in Century Financial Services. The final terms of the deal and its ultimate approval will depend on the outcome of this bidding process and the subsequent decisions of banking regulators.