Oklahoma-based Bank7 completes acquisition of in-state peer Cornerstone Bank

Oklahoma City-based Bank7 Corp., the holding company of Bank7, completed its acquisition of Watonga, Okla.-based Cornerstone Bank and its parent company Watonga Bancshares Inc.

With the completion of the transaction, Bank7 now has three additional branches on the western edge of the Oklahoma City metropolitan area, bringing the total number of the company's branches in the area to four. Bank7 has 12 branches in total.

Additionally, the acquisition increased Bank7's total assets by $254 million to $1.4 billion, total deposits by $228 million to $1.2 billion and total loans by $118 million to $1 billion, each as of Sept. 30, according to a news release.