Bank7 Corp. Expands Footprint with Acquisition of Century Financial Services in NM

Bank7 Corp. Expands Footprint with Acquisition of Century Financial Services in New Mexico

Bank7 Corp., the parent company of Oklahoma City-based Bank7, recently announced it has entered into a definitive agreement to purchase around 71% of the controlling interest in Century Financial Services Corporation. This marks a significant move for Bank7 as it seeks to expand its operations into New Mexico, specifically targeting the Santa Fe market where Century Financial Services is established.

The agreement is noteworthy as the shares are being acquired through a court-supervised sale process that originated from a receivership proceeding involving KS StateBank Corporation. Bank7 is participating as the "stalking horse" bidder, hence setting a minimum price for this acquisition while also leaving room for other potential bids. This competitive auction process may lead to a higher bid, subject to court approval. The transaction is anticipated to close in the third quarter of 2026, pending necessary regulatory approvals.

Founded in 1887, Century Financial Services operates multiple branches across New Mexico, boasting total assets of $1.35 billion, total deposits of $1.22 billion, and loans totaling $826 million as of March 31, 2026. By acquiring Century, Bank7 aims to extend its combined assets to approximately $3.4 billion, establishing a broader and stronger financial institution across the Southwest region.

Thomas L. Travis, the President and Chief Executive Officer of Bank7, expressed enthusiasm for the acquisition, highlighting that the existing Century team has fostered a strong franchise through a relationship-driven banking model. He noted that this acquisition will allow Bank7 to enhance its service to business owners and communities, thereby improving its overall impact on customer service and engagement.

The rationale behind this acquisition is threefold. First, it allows Bank7 to tap into an attractive new market, effectively marrying its presence in Oklahoma, Texas, and Kansas with the opportunities that New Mexico offers. Second, it allows for a disciplined utilization of the excess capital Bank7 has built up over time, promoting growth in a manner that is confident and sustainable. Finally, it ensures continuity for existing Century customers, who will continue receiving services from their familiar bankers post-acquisition.

As regulatory approvals are a critical step in the completion of this deal, Bank7 will navigate these requirements while preparing for integration into the Century system. Bank7 is under the expert guidance of Keefe, Bruyette & Woods as their financial advisor, and Nelson Mullins Riley & Scarborough LLP for legal counsel throughout this process.

With a rich history and the notable backing from a court-sanctioned process, this acquisition reflects Bank7's strategic growth ambitions. The potential benefits are significant not just for Bank7, but for Century’s existing customers and the surrounding communities, maximizing operational synergies and service offerings in the coming years. Though uncertainties like possible competing bids exist, the move sets a positive trajectory for Bank7 in the increasingly competitive landscape of financial services.

As this acquisition process unfolds, stakeholders and community members alike will be attentive to the development, hopeful that it paves the way for expanded services and deeper financial support throughout the New Mexico region and beyond.