Business
BANK7 CORP. COMPLETES ACQUISITION OF CORNERSTONE BANK
ACQUISITION ADDS CORE FUNDING TO BANK7'S EXISTING DEPOSIT BASE AND EXPANDS ITS SCALE IN THE OKLAHOMA MARKET OKLAHOMA CITY, Dec. 10, 2021 /PRNewswire/ -- Bank7
About this update from Bank7 Corp.
[{"type":"text","content":"ACQUISITION ADDS CORE FUNDING TO BANK7'S EXISTING DEPOSIT BASE AND EXPANDS ITS SCALE IN THE OKLAHOMA MARKET\n\n\nOKLAHOMA CITY, Dec. 10, 2021 /PRNewswire/ -- Bank7 Corp. (NASDAQ: BSVN), announced today that it has completed its previously announced share acquisition of Watonga Bancshares, Inc. the bank holding company of Cornerstone Bank (\"Cornerstone\"). As a result of the acquisition, Bank7 now has three additional branches on the western edge of the Oklahoma City metropolitan area. The acquisition enhances Bank7's presence in the Oklahoma City market and brings the total number of Bank7 branches to 12, with 4 in the Oklahoma City metropolitan area.\n\n \n \n \n \n \n \n\n \nThe acquisition of Cornerstone increases Bank7's total assets by $254 million to $1.4 billion, increases total deposits by $228 million to $1.2 billion, and increases total loans by $118 million to $1 billion, each as of September 30, 2021.\nThomas L. Travis, President & CEO of Bank7 remarked \"We are happy to announce the completion of the Cornerstone acquisition and we look forward to working closely with our new team members and also serving our new customers. The Cornerstone customers will continue to work with their longtime bankers and benefit from their great service. We look forward to a successful integration and also achieving our financial goals to the benefit of all shareholders.\"\nAbout Bank7 Corp.We are Bank7 Corp., a bank holding company headquartered in Oklahoma City, Oklahoma. Through our wholly-owned subsidiary, Bank7, we operate twelve locations in Oklahoma, the Dallas/Fort Worth, Texas metropolitan area and Kansas. We are focused on serving business owners and entrepreneurs by delivering fast, consistent and well-designed loan and deposit products to meet their financing needs. We intend to grow organically by selectively opening additional branches in our target markets as well as pursue strategic acquisitions.\nForward-Looking Statements This press release and oral statements made regarding the subject of this press release contain forward-looking statements. These forward-looking statements are subject to significant uncertainties because they are based upon: the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; changes in regu...