Say the working hours of a bank are from 7am to 4pm.

Is it correct to say

The bank opens at 7 am and closes 4 pm ("open" & "close" are verbs)

or

The bank is open at 7 am and closed 4 pm ("open" & "closed" are adjectives)

Are the statements "The bank opens/closes at 7 am / 4 pm" and "The bank is open/closed at 7 am / 4pm" the same?