Group 1 - Bank7 reported quarterly earnings of $1.16 per share, exceeding the Zacks Consensus Estimate of $1.05 per share, and showing a significant increase from $0.12 per share a year ago, resulting in an earnings surprise of 10.48% [1] - The company posted revenues of $24.14 million for the quarter ended December 2024, which was slightly below the Zacks Consensus Estimate by 0.26%, and a decrease from $28.07 million in the same quarter last year [2] - Over the last four quarters, Bank7 has surpassed consensus EPS estimates four times and topped consensus revenue estimates two times [2] Group 2 - The stock has underperformed the market with a loss of about 1.5% since the beginning of the year, while the S&P 500 has gained 1.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.98 on revenues of $23.6 million, and for the current fiscal year, it is $3.92 on revenues of $95.7 million [7] - The Zacks Industry Rank for Banks - Southeast is in the top 32% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Performance - Net income for 2024 reached $45.7 million, a 61.62% increase from $28.3 million in 2023[5] - Earnings per share increased to $4.84, up 58.69% from $3.05 in the previous year[5] - Pre-provision pre-tax earnings (PPE) rose to $60.4 million, a 3.38% increase from $58.4 million in 2023[5] - The Company reported a comprehensive income of $46.9 million for the year, compared to $31.4 million in 2023[8] - For the year ended December 31, 2024, net interest income was $86,195 thousand, an increase from $82,546 thousand in 2023[9] - For the three months ended December 31, 2024, net interest income was $21,737 thousand, compared to $21,297 thousand in the same period of 2023[10] Asset and Liability Management - Total assets decreased to $1.7 billion, down 1.80% from $1.8 billion in 2023[5] - Total assets as of December 31, 2024, were $1,723,297 thousand, down from $1,770,052 thousand in 2023[10] - Total loans increased by 2.69% to $1.4 billion, compared to $1.4 billion in 2023[5] - Total loans increased to $1,391,552 thousand in 2024, with a yield of 8.56%, up from $1,315,578 thousand and a yield of 8.35% in 2023[9] - The Company’s total deposits decreased to $1.5 billion, down 4.77% from $1.6 billion in 2023[7] Capital and Ratios - The Bank's Tier 1 leverage ratio was 12.18% as of December 31, 2024, indicating strong capital levels[2] - Shareholders' equity increased to $213.2 million, up from $170.3 million in 2023[7] - The net interest margin improved to 5.11% in 2024 from 4.97% in 2023[9] - The net interest margin for the three months ended December 31, 2024, was 5.12%, an increase from 4.85% in 2023[10] Growth Strategy - The company plans to grow organically by selectively opening additional branches and pursuing strategic acquisitions[11] Future Outlook - Forward-looking statements indicate potential uncertainties related to interest rates and economic conditions affecting financial performance[13][14] - The conference call to discuss third quarter results is scheduled for January 16, 2025[12]

Core Viewpoint - Bank7 Corp. reported record annual results for 2024, achieving new milestones in net income, pre-provision pre-tax earnings (PPE), and earnings per share, attributed to a well-matched balance sheet, disciplined cost controls, and excellent credit quality [1][5]. Financial Performance - Net income for 2024 was $45.7 million, a 61.62% increase from $28.3 million in 2023 [5]. - Earnings per share rose to $4.84, up 58.69% from $3.05 in the previous year [5]. - Total assets decreased by 1.80% to $1.7 billion from $1.8 billion [5]. - Total loans increased by 2.69% to $1.4 billion [5]. - Pre-provision pre-tax earnings (PPE) reached $60.4 million, a 3.38% increase from $58.4 million [5]. - Total interest income grew by 8.22% to $131.5 million compared to $121.5 million in 2023 [5]. Capital Ratios - As of December 31, 2024, the Bank's Tier 1 leverage ratio was 12.18%, Tier 1 risk-based capital ratio was 13.99%, and total risk-based capital ratio was 15.22% [2]. - The Company's consolidated Tier 1 leverage ratio was 12.19%, Tier 1 risk-based capital ratio was 13.98%, and total risk-based capital ratio was 15.21% [2]. Non-GAAP Financial Measures - The Company utilizes pre-provision pre-tax earnings (PPE) as a non-GAAP financial measure to analyze performance, excluding income tax expense, provision for credit losses, and losses on sales of available-for-sale debt securities [3]. Balance Sheet Highlights - Cash and due from banks increased to $234.2 million from $181.0 million [4]. - Loans, net of allowance for credit losses, rose to $1.4 billion from $1.3 billion [4]. - Total deposits decreased to $1.5 billion from $1.6 billion [6]. Noninterest Income and Expenses - Total noninterest income for the year was $11.3 million, compared to $9.2 million in 2023 [7]. - Total noninterest expense decreased to $37.1 million from $33.4 million [7]. Shareholder Equity - Total shareholders' equity increased to $213.2 million from $170.3 million [6].

Core Points - Bank7 Corp. will release its financial results for Q4 and the full year ending December 31, 2024, on January 16, 2025, before market opens [1] - A conference call to discuss the financial results will take place at 10:00 a.m. CST on the same day [1] - Participants can join the call by dialing 1-888-348-6421 or accessing it online [1] Company Overview - Bank7 Corp. is a bank holding company based in Oklahoma City, operating through its subsidiary Bank7 with twelve locations across Oklahoma, Dallas/Fort Worth, Texas, and Kansas [3] - The company focuses on serving business owners and entrepreneurs by providing fast and well-designed loan and deposit products [3] - Bank7 intends to grow organically by selectively opening new branches in target markets and pursuing strategic acquisitions [3]

Financial Performance - Pre-tax net income for Q3 2024 was $15.5 million, an increase of $5.3 million, or 51.9%, compared to $10.2 million in Q3 2023[130] - Return on average assets and return on average equity for Q3 2024 were 2.73% and 23.67%, respectively, compared to 1.82% and 18.89% in Q3 2023[131] - Net interest income for Q3 2024 was $21.2 million, an increase from $20.7 million in Q3 2023[134] - Noninterest income for the three months ended September 30, 2024, was $3.7 million, an increase of $2.7 million or 265.1% from $1.0 million in the same period in 2023[156] - Total noninterest income for the nine months ended September 30, 2024, was $8.9 million, an increase of $6.4 million or 258.1% from $2.5 million in the same period in 2023[157] Loan and Deposit Metrics - Total loans reached $1.44 billion as of September 30, 2024, an increase of $44.8 million, or 3.2%, from the previous year[129] - Total deposits were $1.52 billion as of September 30, 2024, a decrease of $69.4 million, or 4.4%, compared to September 30, 2023[129] - Interest income on total loans for the first nine months of 2024 totaled $89.8 million, an increase of $8.7 million, or 10.7%, compared to the same period in 2023[141] - The commercial real estate loan category accounted for 56.2% of total loans as of September 30, 2024, up from 55.5% as of December 31, 2023[163] - Nonaccrual loans decreased to $6.95 million as of September 30, 2024, from $18.94 million at December 31, 2023, representing a decline of approximately 63.3%[177] Credit Quality and Loss Provisions - The provision for credit losses for Q3 2024 decreased by $4.2 million, or 100%, compared to the same period in 2023[132] - The allowance for credit losses as a percentage of gross loans decreased by 24 basis points to 1.24%[154] - The allowance for credit losses decreased to $17.9 million as of September 30, 2024, from $19.7 million as of December 31, 2023[163] - The total charge-offs for the nine months ended September 30, 2024, amounted to $2.0 million, compared to $23,000 for the same period in 2023, reflecting a significant increase in charge-offs[172] - The ratio of nonperforming loans to total loans improved to 0.54% as of September 30, 2024, compared to 2.13% at December 31, 2023[177] Interest Rate and Risk Management - The company employs a comprehensive loan grading system to determine risk potential in loans[215] - The ALCO Committee regularly reviews the sensitivity of assets and liabilities to interest rate changes and manages interest rate risk accordingly[230] - The company utilizes interest rate risk simulation models to assess the sensitivity of net interest income and fair value of equity to interest rate changes[231] - Under the static and dynamic growth models, a -100 basis point shift is estimated to result in a 0.66% decline in net interest income, while a +400 basis point shift could increase it by 20.62%[234] - The company’s exposure to interest rate risk is primarily managed through balance sheet structuring, without the use of leveraged derivatives or financial options[229] Capital and Liquidity - The Bank maintained a Tier 1 capital ratio of 12.93% as of September 30, 2024, exceeding the regulatory requirement[204] - Total shareholders' equity increased by $33.8 million to $204.2 million as of September 30, 2024, compared to $170.3 million as of December 31, 2023[205] - The liquidity position is supported by liquid assets and access to alternative funding sources, ensuring the ability to meet cash flow requirements[196] - The Company and the Bank met all capital adequacy requirements under the Basel III Capital Rules as of September 30, 2024[200] - Total capital to risk-weighted assets was 14.12% for the Bank as of September 30, 2024, indicating a well-capitalized status[204] Noninterest Expenses - Noninterest expense for the three months ended September 30, 2024, was $9.4 million, an increase of $2.0 million, or 27.2%, compared to $7.4 million for the same period in 2023[159] - Noninterest expense for the nine months ended September 30, 2024, was $27.7 million, an increase of $5.3 million, or 23.5%, compared to $22.4 million for the same period in 2023[160] - Salaries and employee benefits for the three months ended September 30, 2024, were $5.3 million, an increase of 8.6% from $4.9 million in the same period in 2023[159] - Noninterest expense related to "Other expense" surged to $1.9 million, a 176.6% increase from $688,000 in the same period last year[159] - Advertising and public relations expenses increased by 74.3% to $129,000 for the three months ended September 30, 2024, compared to $74,000 in the same period last year[159]

Financial Data and Key Metrics - Record earnings and record EPS achieved in the recent quarter and year-to-date results, driven by normal operations and not share buybacks [7] - Cash dividend increased significantly, with a payout ratio still in the 20% range, compared to the industry average of over 35% [7] - Strong liquidity position enhanced by adding a second liquidity backstop through the new Fed facility [6] - CET1 ratio shows $98 million of excess capital over prompt corrective action levels [18] Business Line Data and Key Metrics - Loan growth expected to finish in line with moderate to high single-digit growth for the year, with restrictions in certain segments like hospitality and energy to optimize portfolio returns [9] - Net interest income (NII) growth of over 20% in the quarter, with NIM expected to remain within historical ranges despite potential rate cuts [16][24] - Nonperforming assets (NPAs) increased by $1 million in the quarter, but significant principal reductions were achieved, including $1.6 million from the largest NPA and $1.1 million from an energy credit [17] Market Data and Key Metrics - Geographic advantage in the robust economic environment of the region, contributing to steady loan growth and economic activity [11][12] - Deposit betas moved in lockstep with loan betas, with no significant deposit runoff observed during rate adjustments [13][14] - Noninterest-bearing deposits expected to remain flat, with no major shifts in deposit mix [27] Company Strategy and Industry Competition - Disciplined approach to maintaining a balanced and matched balance sheet, proven through rate cycles [6] - Focus on opportunistic M&A, with discussions ongoing for potential transactions, particularly targeting core banking groups with strong funding and cultural alignment [19][21] - Emphasis on maintaining top-tier performance metrics, including efficiency ratio, ROE, ROA, and credit quality, while trading at 1.8-2 times book value and a P/E of 9.5-10% [22] Management Commentary on Operating Environment and Future Outlook - Cautious optimism despite upcoming national election and potential economic volatility, with comfort derived from strong capital and liquidity positions [4][5] - Management views the current interest rate environment as normal historically, with long-term averages showing no significant impact on borrowing or economic activity [11][12] - Expectations for continued strong economic activity in Texas and Oklahoma, supporting loan growth and credit quality [17][18] Other Important Information - Oil and gas-related revenue and expenses peaked in Q3, with Q4 projections showing $3 million in noninterest income and $9.5 million in noninterest expenses, including $1 million from oil and gas [26] - Credit quality remains strong, with ongoing efforts to reduce NPAs and manage criticized assets [17] Q&A Session Summary Question: Loan growth pipeline for Q4 - Loan growth expected to align with moderate to high single-digit growth for the year, with selective restrictions in certain segments [9] Question: Impact of rate cuts on client activity - No significant change in client activity observed despite recent rate cuts [10] Question: Deposit betas and future rate adjustments - Deposit betas moved in lockstep with loan betas, with no significant runoff observed during rate adjustments [13][14] Question: NII growth prospects amid expected rate declines - NII growth expected to remain strong, with NIM staying within historical ranges despite potential rate cuts [16][24] Question: Credit quality and criticized asset trends - Credit quality remains stable, with significant principal reductions achieved and ongoing efforts to manage NPAs [17] Question: Provisioning levels and reserve trends - Provisioning expected to remain in the same range, with a focus on maintaining strong asset quality and economic activity [18] Question: M&A environment and acquisition prospects - Active M&A discussions ongoing, with a focus on core banking groups and potential MOE (merger of equals) opportunities [19][21] Question: Key financial metrics for M&A evaluation - Focus on long-term fundamental principles, including P/E ratios, tangible book value, and deposit premiums, while maintaining top-tier performance metrics [22] Question: Core margin outlook amid Fed rate cuts - Core margin expected to remain within historical ranges, with no significant concerns about managing through rate cuts [24] Question: Oil and gas-related revenue and expenses - Oil and gas-related revenue and expenses peaked in Q3, with Q4 projections showing a decline in related income and expenses [26] Question: Noninterest-bearing deposit trends - Noninterest-bearing deposits expected to remain flat, with no major shifts in deposit mix [27]

Company Performance - Bank7 (BSVN) reported quarterly earnings of $1.24 per share, exceeding the Zacks Consensus Estimate of $1.07 per share, and up from $0.85 per share a year ago, representing an earnings surprise of 15.89% [1] - The company posted revenues of $24.89 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.73%, compared to $21.75 million in the same quarter last year [2] - Over the last four quarters, Bank7 has consistently surpassed consensus EPS estimates four times and topped revenue estimates three times [2] Stock Performance - Bank7 shares have increased approximately 37.1% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is $1.04 on revenues of $24.1 million, and for the current fiscal year, it is $4.39 on revenues of $96.5 million [7] Industry Outlook - The Zacks Industry Rank for Banks - Southeast is currently in the bottom 29% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5]

FOR IMMEDIATE RELEASE: Bank7 Corp. Announces Q3 2024 Earnings Oklahoma City, October 11, 2024 – Bank7 Corp. (NASDAQ: BSVN) ("the Company"), the parent company of Oklahoma City-based Bank7 (the "Bank"), today reported unaudited results for the quarter ended September 30, 2024. "We are pleased to announce another record quarter of net income and EPS. Our properly matched balance sheet, disciplined approach to cost controls, and excellent credit quality continues to produce outstanding results" said Thomas L. ...

OKLAHOMA CITY, Oct. 11, 2024 /PRNewswire/ -- Bank7 Corp. (NASDAQ: BSVN) ("the Company"), the parent company of Oklahoma Citybased Bank7 (the "Bank"), today reported unaudited results for the quarter ended September 30, 2024. "We are pleased to announce another record quarter of net income and EPS. Our properly matched balance sheet, disciplined approach to cost controls, and excellent credit quality continues to produce outstanding results" said Thomas L. Travis, President and CEO of the Company." For the t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-38656 BANK7 CORP. (Exact name of registrant as specified in its charter) Oklahoma 20-0764349 ( State or other jurisdiction of incorporation ...