{"id":50539,"date":"2026-09-05T17:45:59","date_gmt":"2026-09-05T17:45:59","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=50539"},"modified":"2026-09-05T17:45:59","modified_gmt":"2026-09-05T17:45:59","slug":"oklahoma-bank-steps-in-after-new-mexico-lenders-owner-defaults","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=50539","title":{"rendered":"Oklahoma Bank Steps In After New Mexico Lender\u2019s Owner Defaults"},"content":{"rendered":"

\"\"<\/p>\n

An Oklahoma bank is taking a controlling stake in a New Mexico lender after the owner defaulted on loans and a court put his shares up for auction.<\/p>\n

Bank7 Corp. says<\/a> it won the sale with a net cash price of $89 million.<\/p>\n

That buys about 71% of Santa Fe-based Century Financial Services Corp., parent of Century Bank. The first bid was $68 million. The price is $91 million before a $2 million credit.<\/p>\n

The bank itself is not in bankruptcy. Majority owner Gerald Peters pledged his Century stock on loans from KS State Bank of Kansas and did not repay them. A receiver in Arizona federal court is selling those shares. The deal still needs bank regulators and is slated for the fourth quarter.<\/p>\n

Century Bank has nine New Mexico branches and two Texas loan offices. It had $1.36 billion in assets as of June 30th. Bank7 has about $1.9 billion.<\/p>\n

Together they would be about $3.4 billion. Bank7 says it plans to keep the Century name.<\/p>\n

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The post Oklahoma Bank Steps In After New Mexico Lender\u2019s Owner Defaults<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

An Oklahoma bank is taking a controlling stake in a New Mexico lender after the owner defaulted on loans and a court put his shares up for auction. Bank7 Corp. says it won the sale with a net cash price of $89 million. 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