Bank7 Corp. (NASDAQ: BSVN) has acquired Watonga Bancshares, Inc., the bank holding company of Cornerstone Bank.
Following the purchase, Bank7 will have three additional branches located in the Oklahoma City metro area. The deal brings the number of Bank7 branches to 12 and increases Bank7’s total assets under management by $254 million to a total of $1.4 billion.
“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,” added Thomas Travis, president and CEO of Bank7. “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.”