Bank7 Corp. Announces its Second Consecutive Annual Increase in Quarterly Cash Dividend

Rhea-AI Summary

Bank7 Corp. (NASDAQ: BSVN) announced a $0.12 quarterly cash dividend, marking a 10% increase and the second consecutive annual rise. The dividend will be paid on January 7, 2022, to shareholders of record by December 23, 2021. CEO Thomas L. Travis highlighted this decision as a reflection of the company's strong earnings and capital position, emphasizing the commitment to returning value to shareholders.

Positive

• Quarterly cash dividend increased by 10% to $0.12.
• Second consecutive annual increase in dividends.
• Strong earnings and capital position indicated.

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• None.

OKLAHOMA CITY, Dec. 8, 2021 /PRNewswire/ -- Bank7 Corp. (NASDAQ: BSVN), the parent company of Oklahoma City-based Bank7 (the "Company"), is pleased to announce that its Board of Directors has declared a quarterly cash dividend of $0.12 per common share. This dividend represents an approximate 10% increase to the current dividend and is the second consecutive annual increase in BSVN's quarterly cash dividend. The dividend will be paid on January 7, 2022, to shareholders of record as of the close of business on December 23, 2021.

Thomas L. Travis, President and CEO of the Company said, "Today's announcement of a second consecutive annual increase in quarterly cash dividend reflects confidence in our strong earnings, is further supported by our strong capital position, and reaffirms our commitment to prudently return capital to shareholders."

About Bank7 Corp.

We are Bank7 Corp., a bank holding company headquartered in Oklahoma City, Oklahoma. Through our wholly-owned subsidiary, Bank7, we operate nine full-service branches in Oklahoma, the Dallas/Fort Worth, Texas metropolitan area, and Kansas. We are focused on serving business owners and entrepreneurs by delivering fast, consistent and well-designed loan and deposit products to meet their financing needs. We intend to grow organically by selectively opening additional branches in our target markets as well as pursue strategic acquisitions.

Cautionary Statements Regarding Forward-Looking Information

This communication contains a number of forward-looking statements. These forward-looking statements reflect Bank7 Corp.'s current views with respect to, among other things, future events and Bank7 Corp.'s financial performance. Any statements about Bank7 Corp.'s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends" and similar words or phrases. Any or all of the forward-looking statements in (or conveyed orally regarding) this presentation may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this presentation should not be regarded as a representation by Bank7 Corp. or any other person that the future plans, estimates or expectations contemplated by Bank7 Corp. will be achieved.

These forward-looking statements are subject to significant uncertainties because they are based upon:  the amount and timing of future changes in interest rates, market behavior, and other economic conditions; future laws, regulations, and accounting principles; changes in regulatory standards and examination policies, and a variety of other matters.  These other matters include, among other things, the direct and indirect effect of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators. Bank7 Corp. has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that Bank7 Corp. believes may affect its financial condition, results of operations, business strategy and financial needs. Bank7 Corp.'s actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. If one or more events related to these or other risks or uncertainties materialize, or if Bank7 Corp.'s underlying assumptions prove to be incorrect, actual results may differ materially from what Bank7 Corp. anticipates. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made and Bank7 Corp. undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as may be required by law. All forward-looking statements herein are qualified by these cautionary statements.

Contact:

Thomas Travis
President & CEO
(405) 810-8600

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SOURCE Bank7 Corp.

FAQ

What is the new dividend amount for Bank7 Corp. (BSVN)?

The new dividend amount is $0.12 per common share.

When will the dividend be paid by Bank7 Corp. (BSVN)?

The dividend will be paid on January 7, 2022.

What is the record date for the dividend payment from Bank7 Corp. (BSVN)?

The record date for the dividend payment is December 23, 2021.

Is the dividend from Bank7 Corp. (BSVN) sustainable?

The announcement reflects strong earnings and capital position, indicating a commitment to return value to shareholders.