Bank7 Corp. to acquire Cornerstone Bank for ~$32M, adding $241M assets

Bank7 Corp.

Consideration ~$32M; closing expected Q4 2021, subject to regulatory and shareholder approvals.
Cornerstone Bank had $241M assets, $215M deposits, $116M loans as of June 30, 2021.
Combined entity would have ~$1.4B assets; Bank7 to operate 12 branches in OK, TX, KS.
Boards of both companies unanimously approved; seller shareholders committed to vote in favor.
Deal adds core funding and scale in Oklahoma market, enhancing growth prospects.

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