Bank7 entered into a Stock Purchase Agreement to acquire approximately 71% of Century Financial Services for $68.0 million, serving as a stalking-horse bid in a court-supervised sale. The shares, sold free and clear, are being offered by MCA Financial Group as court-appointed receiver, and the transaction is subject to higher and better offers, court approval, and regulatory clearances, including from the Federal Reserve. Bank7 will provide a $7.25 million good-faith deposit, creditable to the purchase price if it wins the auction, and is eligible for a $2.04 million break-up fee if outbid under certain conditions. The agreement can terminate if closing has not occurred by Nov 30, 2026 or if Bank7 is not the successful bidder.
Agreement details:
- Agreement type: Stock Purchase Agreement to acquire controlling interest
- Counterparty: MCA Financial Group, as court-appointed receiver
- Signed / Effective: Jul 01 2026 / Jul 01 2026
- Duration / Termination: One-time transaction
- Reason: Acquire controlling interest and expand regional banking footprint
Original SEC Filing:
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