Bank7 Closes Century Financial Merger, Names Anne Kain President of Century Bank
BSVN sits 55% above its 52-week low of $38.29.
Summary
Bank7 closed its merger with Century Financial Services, converting the earlier 71% stake bid into a full combination. The deal path ran from a $91 million auction win in September to an upgraded 100% merger valued at roughly $137.3 million, with shareholder and regulatory approvals cleared October 9. Century shareholders received about $210.41 in cash plus 3.7052 BSVN shares per share, while non-accredited holders got $426.53 cash and phantom units $423.56. Anne Kain takes over as President of Century Bank, putting named leadership on the acquired franchise from day one. The stock is trading near its 52-week high, so the integration now carries the expectations. Q3 net income of $10.2 million ($1.06 diluted EPS) was already reported October 15, up 22% from Q2.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Century shareholders received about $210.41 in cash plus 3.7052 BSVN shares per share; non-accredited holders got $426.53 cash and phantom units $423.56.
At the time of this announcement, BSVN was trading at $59.40 on NASDAQ in the Finance sector, with a market capitalization of approximately $558.5M. The 52-week trading range was $38.29 to $59.96. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.