Bank7 Corp has agreed to buy all outstanding common stock of Century Financial Services Corporation in a cash-and-shares deal valued at about $137.3m. Upon completion, the deal would form a Southwest banking group with roughly $3.3bn in total assets and would add Century's deposit base in New Mexico to Bank7's existing operations. Bank7 said the purchase would take it into a neighbouring market and add a longstanding core deposit base.
Century Bank, founded in 1887, is among the remaining independent banks based in New Mexico and is the state's second-largest bank headquartered there. It runs eight branches in New Mexico and two loan production offices in Dallas and Houston, Texas. At 30 June 2026, Century Bank had total assets of $1.36bn, total deposits of $1.23bn and gross loans of $845m.
Century Bank CEO Max Myers said: "We believe this is a great opportunity for both banks to enhance their presence in the southwest and create a stronger more robust banking institution to benefit our customers, employees, and communities. "We are excited about this partnership and the opportunities it will provide for everyone involved. We look forward to expanding our existing presence in Texas and working closely with the leadership team at Bank7 to facilitate a seamless transition for our customers throughout New Mexico." Bank7 plans to keep the Century Bank name and brand image after the transaction.
Century's $1.2bn core deposit franchise would be added to the combined company's funding base. The transaction gives Bank7 entry into New Mexico, with particular emphasis on the Santa Fe market, alongside its current presence in Oklahoma, Texas and Kansas. Bank7 said the transaction would use surplus capital built up over time in place of alternatives such as share buy-backs, dividends or organic expansion.
Under the agreed terms, Bank7 will acquire all of Century's outstanding common stock. Century will merge into Bank7, which will remain the surviving entity, and Century Bank will then merge into Bank7. Bank7 CEO and president Thomas Travis said: "The Century team members have built an exceptional, legacy deposit franchise through a trusted, relationship-driven banking model that has served New Mexico communities for generations.
We look forward to working closely together to continue building on their work. "This transaction extends our footprint into an attractive and neighbouring Southwest market, represents a disciplined use of our excess capital, and positions the combined organisation to deliver personalised, high-touch service to even more business owners and entrepreneurs — all to the benefit of our customers, communities, and shareholders." "Bank7 to acquire Century Financial Services in $137.3m deal " was originally created and published by Retail Banker International, a GlobalData owned brand.
Extract — continue reading at the source.
