Bank7


Overview / Commentary
405-810-8600
1039 Nw 63rd Street
Oklahoma City, OK 73116

Bank7 is headquartered in Oklahoma City and is the 13th largest bank in the state of Oklahoma. It is also the 930th largest bank in the nation. It was established in 1901 and as of December of 2019, it had grown to 78 employees at 9 locations. Bank7 has an A+ health rating.

Related Posts

Money Market At 1.40 - 6/9/2020

I spoke to a CSR today who said their money market is paying 1.40% for all tiers. You must maintain 10K to receive interest. You can write checks with this account and the cost I was quoted for "basic checks" was $22.00. I didn't see Bank 7 listed in the money market list. With rates dropping everywhere, this doesn't look too bad.

Another Drop Savings From 1.76 To 1.40 - 3/11/2020

After signing into my account there I was met with that

Hi-Yield Savings+ Money Market Lose Again - 11/15/2019

Just noticed when I signed in this morning to my accounts to makes sure my transfers were there from my brokerage accounts that Bank7 dropped their rate from 2 to 1.90

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Reviews (5)

Does Everything I Had No Problem

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Easy opening over weekend so far seems like a great place to stash/accumulate funds for CD's while earning a decent rate. As you do not get ach capabilities from Bank7 with just a savings(not sure if available with checking) I set ach up from my local institution an verification deposits were in my Bank7's account Tuesday. I did have the chance of calling Bank7 everyone I had talked with were helpful and if did not know answer went and asked to find out unlike some of my other accounts in other banks.
Overall Rating I think if you branch is local to you it is worth it for a savings now great rate easy access so far great CS again so far.
CS 5's across the board
WEB could use some more features but I am really just after the rate.
Competitive products like I said I'm after the rate and 2%+ ain't bad
Fees we'll see I really don't pay fees most likely they're exorbitant but figure if you screwed up don't bi^ch an moan just pay the piper move on an be done with it.

I am waiting to see speed of incoming transfers I made one yesterday I called Ashley said it is showing an should be in account tom. for me that is above average but time will tell if all turns out well an good
Another plus I asked about a sheet of checks as I do not really use them an really would only use them if a local CD popped up they said no problem just stop by a branch other wise I can not remember the place they use but checks would run around $22plus.
Did I tell you it was a pleasure speaking with the CS reps from Bank7 it's just a nice change especially after talking to NASA's other day whew thats another review

Website Info

Posted by: |

Looking at opening real estate investment account but couldn’t see rates online. Need to improve on this and might get more new business.

No Respond To HY Saving Application

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I applied for the high yield saving account online through their website in May, 2019. I received no respond whatsoever regarding my application. No confirmation of the application. No approval. No rejection. No phone call. No mailing. No email.

I then realized that they checked my Chexsytem report, which I am certain I have no history. I just don't trust this bank anymore. Please be aware of this bank. They will get your information, check your report(s) and give you no respond. This sneaky bank won't do business with you if they don't feel like without telling you why.

Bait And Switch High Yield Savings Rates

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I signed up for the Bank 7 high yield savings account for the advertised rate of 2.35% on 7/16/19. On 7/17/19 i was informed the account was created and ready for funding. I linked the Bank 7 account to my personal checking account at my credit union and made my first transfer. On Monday 7/22/19 i check the Bank 7 account and it shows the deposit but the interest rate is listed as 0.00%. I call the customer service line and am informed that the interest rate can take a few days to register in new accounts but I am earning 2.15%. I ask about the rate as I signed up at 2.35% just a few days prior. The CS agent tells me the rate is variable and changes as the bank board decides to change it. I selected Bank 7 for their rate of 2.35% as it was only .01% lower than a major bank offering 2.36% and I hoped the local bank in my own home state was more stable than the major chain who has been closing branches across the nation in the last few years. I will be taking my savings elsewhere and warning others of the bait and switch interest rates.

Promo Rate Only For New Customers

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I asked Bank 7 why I can't find a link from their home page to get their interest rate information. It is something that any customer or potential customer would want to be able to access readily. Their response: "The link is not listed on our main website because these High Rate Online Accounts are only available to new customers."

That says something in itself.



Health
A+

Health Grade Components

Overall
FDIC Certificate #4147
Year Established1901
Employees78
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1%
Return on Equity - YTD8.45%
Annual Interest Income$51.8MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$865.4MM$769.5MM
LoansQ4 2019vs Q4 2018$700.5MM$592.6MM
DepositsQ4 2019vs Q4 2018$757.8MM$676.3MM
Equity CapitalQ4 2019vs Q4 2018$99.1MM$87.4MM
Loan Loss AllowanceQ4 2019vs Q4 2018$7.8MM$7.8MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$612.00K$638.00K
Real Estate OwnedQ4 2019vs Q4 2018$0$111.00K
  User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Money Market At 1.40

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I spoke to a CSR today who said their money market is paying 1.40% for all tiers. You must maintain 10K to receive interest. You can write checks with this account and the cost I was quoted for "basic checks" was $22.00. I didn't see Bank 7 listed in the money market list. With rates dropping everywhere, this doesn't look too bad.

Rates

Sorry, we do not have rate data for Bank7.

Locations


Bank7 Locations
Camargo Bank7 Branch100 South BroadwayCamargo, OK 73835
Bank 71039 NW 63rd StreetOklahoma City, OK 73116
Medford Branch120 North First StreetMedford, OK 73759
Woodward Westside Branch3300 Oklahoma AvenueWoodward, OK 73801
Montezuma Branch209 North Aztec StreetMontezuma, KS 67867
Copeland Branch210 North Santa Fe StreetCopeland, KS 67837
Irving Branch6460 North Macarthur BlvdIrving, TX 75039
Frisco Branch8837 Lebanon Road, Suite 100Frisco, TX 75034
Tulsa Branch1515 East 71st Street, Suite 100Tulsa, OK 74105

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