Bank7 Corp. Named Successful Bidder in the Auction for a Controlling Interest in Century Financial Services Corporation

Bank7 Corp. (NASDAQ: BSVN) has been named the successful bidder in an auction to acquire an approximately 71% controlling ownership interest in Century Financial Services Corporation, the Santa Fe-based holding company for Century Bank, for a purchase price of $91 million, or roughly $89 million net of a $2 million break-up credit. The shares are being sold by a court-appointed receiver through a court-supervised process in the receivership case KS StateBank Corporation v. Peters, et al., and closing remains subject to bank regulatory approvals, with completion expected in the fourth quarter.

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