HousingWireHousingWire
Bank7 is expanding its mortgage reach in Oklahoma. The community bank has completed its acquisition of First American Mortgage, Inc., a small mortgage lender and brokerage based in the suburbs of Oklahoma City.
Yukon-based First American Mortgage, Inc. founded in 1993 by its president and owner Dale Bogle, has done about $41 million in origination volume over the past 12 months, according to Modex. The company says it has provided over $3 billion in mortgage loans since its founding. (It has no affiliation with title giant First American Financial Corporation.)
Bank7, headquartered in Oklahoma City, has 12 branches in Oklahoma, Texas and Kansas. The company said in a press release that it intends to grow organically with new branches and will also pursue strategic acquisitions. Per Modex, it has originated just under $20 million in mortgages over the last year.
The deal is among the first M&A transactions in mortgage in 2025. HousingWire tracked 37 mergers, acquisitions, exits and bankruptcies involving originators, servicers, tech platforms, and appraisal and valuation companies in 2024. This marks a steep decline compared to the 62 transactions reported in 2023.
As HousingWire reported in late December, M&A experts expect 2025 to be similar to 2024 in size, “but it’s different in makeup compared to the end of 2023.
“Historically, most of these transactions have been structured as asset purchase deals, where you’re paying the owner to bring over their people rather than buying the company itself. However, more and more deals are now becoming stock purchase deals, which are a bit more complex,” Sterling Point Advisors’ Brett Ludden said.
