Bank7 Completes Century Deal Valued at $137.3 Million, Expands in New Mexico

Key Facts

Bank7 announced it completed its merger with Century Financial Services Corporation effective November 1, 2026, in a deal valued at approximately $137.3 million based on the average closing price of Bank7 shares over the 10 days through September 16. The agreement provides for $70 million in cash and 1,232,657 shares of the company’s stock, according to Bank7’s investor filing. The deal gives Bank7 entry into the New Mexico market through its acquisition of Century Financial, while the company estimates the combined banking institution will have about $3.3 billion in assets. Bank7 describes Century’s $1.2 billion base as core, legacy deposits and said they would strengthen the group’s funding profile. The completion followed approval by Century shareholders and regulatory approval, while the bank’s branches will continue to operate under the Century Bank name.

The deal consideration includes $70 million in cash alongside shares, and the total valuation was based on Bank7’s average closing share price of $54.57 through September 16, 2026. This reflects the cash-and-stock consideration mechanism set out in the agreement, rather than an entirely fixed cash value, as a specified number of company shares forms part of the consideration. In data as of June 30, 2026, Century Bank reported assets of $1.36 billion, deposits of $1.23 billion and gross loans of $845 million. These figures provide a measure of the banking operations being transferred under the deal, while Bank7’s estimate puts the combined institution’s assets at about $3.3 billion. Bank7 said Century’s core deposits would support its funding profile, without describing them as low-cost.

Century Bank dates to 1887. When announcing the deal, Bank7 described it as the second-largest bank headquartered in New Mexico and one of the last independent banks based in the state. The bank operates eight branches in New Mexico, as well as two loan production offices in Dallas and Houston, Texas. Bank7 Chief Executive Thomas Travis said when the deal was announced that it expanded the company’s reach into an attractive neighboring market in the Southwest and represented a disciplined use of excess capital. Max Myers of Century also said the deal would strengthen the two banks’ presence in the region. The merger plan states that Century Bank will later merge with Bank7, but that subsequent bank merger is not a condition for completion of the parent companies’ merger.

Anne Cain is leading the New Mexico market, supported by a leadership team of current Century Bank employees, according to the bank’s page about joining Bank7. The announcement does not name her as president of the bank; it specifies her responsibility for leading the local market. The branches will also continue to operate under the Century Bank name for now, according to the same page. The arrangement gives Bank7 entry into the state while retaining the Century Bank name across its branches, as the parent company completes the deal under the announced agreement. It comes as part of a transaction aimed at expanding Bank7’s Southwest franchise and building on Century’s existing banking base.

The completion followed a series of approvals. Century shareholders approved the merger agreement at a special meeting held on October 9, 2026. Bank7’s filing with the Securities and Exchange Commission said the company had received approval or confirmation of no objection from the Federal Reserve and the New Mexico Financial Institutions Division. On October 15, Bank7 said all regulatory approvals and Century shareholder approval had been secured, with closing expected on November 1. When it announced the deal in September, the company estimated the merger would create a Southwest banking institution with nearly $3.3 billion in assets. BSVN shares closed at $58.63 on October 30, before the completion announcement published on November 2, so that price does not reflect a subsequent market response to the news.

The completion announcement came after Bank7’s third-quarter 2026 results. Net income was $10.20 million, compared with $8.35 million in the second quarter, while earnings per share were $1.06, versus $0.87. The company also reported total assets of $2.01 billion on September 30, compared with $1.91 billion on June 30, a quarterly increase of 4.84%. Bank7 said in October that the deal would expand its franchise into New Mexico and allow it to build on Century’s core deposits. The subsequent banking step, the merger of Century Bank into Bank7, is to be carried out as soon as possible after the parent companies merge, under the agreement, but is not a condition for completing that merger.