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Bank7 Corp. Announces Q3 2024 Earnings

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Bank7 Corp. (NASDAQ: BSVN) reported unaudited Q3 2024 results. Net income reached $11.8 million, up 49.97% from the same period in 2023. Earnings per share (EPS) increased to $1.24, a 45.88% rise. Total assets decreased by 1.80% to $1.7 billion, while total loans grew by 3.21% to $1.4 billion. Total interest income saw a 5.57% increase to $33.5 million. Comparing Q3 2024 to Q2 2024, net income rose by 2.20%, and EPS by 0.81%. The company’s capital ratios remain well above regulatory requirements. The Bank's Tier 1 leverage ratio is 11.64%, with a total risk-based capital ratio of 14.12%. Pre-provision pre-tax earnings (PPE) for Q3 2024 were $15.5 million, up from $14.4 million in Q3 2023. Noninterest income increased significantly to $3.7 million from $1.0 million in Q3 2023. Noninterest expense rose to $9.4 million from $7.4 million in Q3 2023.

Bank7 Corp. (NASDAQ: BSVN) ha riportato i risultati non verificati del terzo trimestre del 2024. Il reddito netto ha raggiunto 11,8 milioni di dollari, con un aumento del 49,97% rispetto allo stesso periodo del 2023. L'utile per azione (EPS) è aumentato a 1,24 dollari, con un incremento del 45,88%. Gli attivi totali sono diminuiti dell'1,80% a 1,7 miliardi di dollari, mentre i prestiti totali sono aumentati del 3,21% a 1,4 miliardi di dollari. Il reddito da interessi totale ha registrato un incremento del 5,57% a 33,5 milioni di dollari. Confrontando il terzo trimestre del 2024 con il secondo trimestre del 2024, il reddito netto è aumentato del 2,20% e l'EPS dello 0,81%. I rapporti patrimoniali della società rimangono ben al di sopra dei requisiti normativi. Il rapporto di leva Tier 1 della Banca è dell'11,64%, con un rapporto di capitale totale basato sul rischio del 14,12%. Gli utili pre-imposte pre-accantonamento (PPE) per il terzo trimestre del 2024 sono stati di 15,5 milioni di dollari, in aumento rispetto ai 14,4 milioni di dollari del terzo trimestre del 2023. Il reddito non da interessi è aumentato significativamente a 3,7 milioni di dollari rispetto a 1,0 milione di dollari nel terzo trimestre del 2023. Le spese non da interessi sono aumentate a 9,4 milioni di dollari rispetto ai 7,4 milioni di dollari del terzo trimestre del 2023.

Bank7 Corp. (NASDAQ: BSVN) informó los resultados no auditados del tercer trimestre de 2024. El ingreso neto alcanzó los 11,8 millones de dólares, un incremento del 49,97% en comparación con el mismo período de 2023. Las ganancias por acción (EPS) aumentaron a 1,24 dólares, un ascenso del 45,88%. Los activos totales disminuyeron un 1,80% a 1,7 mil millones de dólares, mientras que los préstamos totales crecieron un 3,21% a 1,4 mil millones de dólares. El ingreso por intereses total vio un aumento del 5,57% a 33,5 millones de dólares. Comparando el tercer trimestre de 2024 con el segundo trimestre de 2024, el ingreso neto aumentó un 2,20% y el EPS un 0,81%. Los índices de capital de la compañía se mantienen muy por encima de los requisitos regulatorios. El ratio de apalancamiento Tier 1 del banco es del 11,64%, con un ratio total de capital basado en riesgo del 14,12%. Las ganancias antes de provisiones y antes de impuestos (PPE) para el tercer trimestre de 2024 fueron de 15,5 millones de dólares, en comparación con los 14,4 millones de dólares del tercer trimestre de 2023. Los ingresos no por intereses aumentaron significativamente a 3,7 millones de dólares desde 1,0 millón de dólares en el tercer trimestre de 2023. Los gastos no por intereses aumentaron a 9,4 millones de dólares desde 7,4 millones de dólares en el tercer trimestre de 2023.

Bank7 Corp. (NASDAQ: BSVN)는 2024년 3분기 감사되지 않은 결과를 보고했습니다. 순이익은 1,180만 달러에 도달하여 2023년 같은 기간보다 49.97% 증가했습니다. 주당 순이익 (EPS)은 1.24달러로 45.88% 상승했습니다. 총 자산은 1.7억 달러로 1.80% 감소했으며, 총 대출은 14억 달러로 3.21% 증가했습니다. 총 이자 수익은 3350만 달러로 5.57% 증가했습니다. 2024년 3분기와 2024년 2분기를 비교했을 때, 순이익은 2.20%, EPS는 0.81% 증가했습니다. 회사의 자본 비율은 규제 요건을 훨씬 초과합니다. 은행의 Tier 1 레버리지 비율은 11.64%이며, 총 위험 기반 자본 비율은 14.12%입니다. 2024년 3분기의 세전 세전 이익 (PPE)은 1550만 달러로, 2023년 3분기 1440만 달러에서 증가했습니다. 비이자 수익은 2023년 3분기의 100만 달러에서 370만 달러로 크게 증가했습니다. 비이자 비용은 2023년 3분기의 740만 달러에서 940만 달러로 증가했습니다.

Bank7 Corp. (NASDAQ: BSVN) a communiqué des résultats non audités du troisième trimestre 2024. Le revenu net a atteint 11,8 millions de dollars, en hausse de 49,97 % par rapport à la même période en 2023. Le bénéfice par action (EPS) a augmenté à 1,24 $, soit une hausse de 45,88 %. Les total des actifs ont diminué de 1,80 % pour s'établir à 1,7 milliard de dollars, tandis que les prêts totaux ont augmenté de 3,21 % pour atteindre 1,4 milliard de dollars. Le revenu total des intérêts a connu une augmentation de 5,57 % pour atteindre 33,5 millions de dollars. Comparé au troisième trimestre 2024 au deuxième trimestre 2024, le revenu net a augmenté de 2,20 % et l'EPS de 0,81 %. Les ratios de capital de la société demeurent bien au-dessus des exigences réglementaires. Le ratio de levier Tier 1 de la Banque est de 11,64 %, avec un ratio total de capital basé sur le risque de 14,12 %. Les bénéfices avant provision et avant impôt (PPE) pour le troisième trimestre 2024 étaient de 15,5 millions de dollars, en hausse par rapport à 14,4 millions de dollars au troisième trimestre 2023. Les revenus non d'intérêts ont significativement augmenté à 3,7 millions de dollars contre 1,0 million de dollars au troisième trimestre 2023. Les dépenses non d'intérêts ont augmenté à 9,4 millions de dollars contre 7,4 millions de dollars au troisième trimestre 2023.

Bank7 Corp. (NASDAQ: BSVN) berichtete über die ungeprüften Ergebnisse des dritten Quartals 2024. Der Nettoertrag belief sich auf 11,8 Millionen US-Dollar, was einem Anstieg von 49,97% gegenüber demselben Zeitraum im Jahr 2023 entspricht. Der Gewinn pro Aktie (EPS) stieg auf 1,24 US-Dollar, ein Anstieg von 45,88%. Die Gesamtvermögen verringerten sich um 1,80% auf 1,7 Milliarden US-Dollar, während die Gesamt-kredite um 3,21% auf 1,4 Milliarden US-Dollar zunahmen. Die Zinsen gesamt stiegen um 5,57% auf 33,5 Millionen US-Dollar. Im Vergleich von Q3 2024 zu Q2 2024 stieg der Nettoertrag um 2,20% und der EPS um 0,81%. Die Kapitalquoten des Unternehmens liegen weit über den regulatorischen Anforderungen. Das Tier 1 Hebelverhältnis der Bank beträgt 11,64%, mit einem insgesamt risikobasierten Kapitalverhältnis von 14,12%. Die vor Ausbuchungen und vor Steuern erzielten Erträge (PPE) für Q3 2024 betrugen 15,5 Millionen US-Dollar, gegenüber 14,4 Millionen US-Dollar im dritten Quartal 2023. Nichtzinsliche Einnahmen stiegen erheblich auf 3,7 Millionen US-Dollar von 1,0 Millionen US-Dollar im dritten Quartal 2023. Nichtzinsliche Ausgaben stiegen auf 9,4 Millionen US-Dollar von 7,4 Millionen US-Dollar im dritten Quartal 2023.

Positive
  • Net income increased by 49.97% to $11.8 million.
  • EPS rose by 45.88% to $1.24.
  • Total loans grew by 3.21% to $1.4 billion.
  • Total interest income increased by 5.57% to $33.5 million.
  • Capital ratios remain significantly above regulatory requirements.
  • Noninterest income increased to $3.7 million from $1.0 million.
Negative
  • Total assets decreased by 1.80% to $1.7 billion.
  • Noninterest expense increased to $9.4 million from $7.4 million.

Insights

Bank7 Corp. reported strong Q3 2024 results, with notable improvements across key financial metrics. Net income increased by 49.97% year-over-year to $11.8 million, while earnings per share rose 45.88% to $1.24. The company's net interest margin expanded to 5.02%, up from 4.87% in Q3 2023, indicating improved profitability on its interest-earning assets.

The bank's loan portfolio grew by 3.21% year-over-year, reaching $1.4 billion. This growth, combined with higher interest rates, contributed to a 5.57% increase in total interest income. Notably, the bank maintained strong asset quality, with no provision for credit losses recorded in Q3 2024, compared to $4.16 million in the same period last year.

Bank7's capital ratios remain well above regulatory requirements, with a Tier 1 leverage ratio of 11.64% and a total risk-based capital ratio of 14.11%. This strong capital position provides a solid foundation for future growth and potential shareholder returns.

Bank7 Corp.'s Q3 2024 results demonstrate resilience in a challenging banking environment. The company's ability to grow earnings significantly while maintaining a stable asset base is noteworthy. The 45.88% increase in EPS outpaces many peers in the regional banking sector, potentially making BSVN an attractive investment for those seeking exposure to well-managed, growth-oriented regional banks.

The bank's focus on cost control and credit quality is evident in its improved efficiency and lack of credit loss provisions. This disciplined approach could be particularly valuable if economic conditions deteriorate. However, investors should note the 33.18% year-over-year decline in non-interest bearing deposits, which could pressure funding costs if the trend continues.

With a market cap of $348.86 million, Bank7 Corp. remains a relatively small player, which could offer both growth potential and increased risk. The stock's valuation may be affected by the strong earnings growth, potentially attracting more investor interest in the regional banking space.

OKLAHOMA CITY, Oct. 11, 2024 /PRNewswire/ -- 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. Travis, President and CEO of the Company." 

For the three months ended September 30, 2024 compared to the three months ended September 30, 2023:

  • Net income of $11.8 million compared to $7.9 million, an increase of 49.97%
  • Earnings per share of $1.24 compared to $0.85, an increase of 45.88%
  • Total assets of $1.7 billion compared to $1.8 billion, a decrease of 1.80%
  • Total loans of $1.4 billion compared to $1.4 billion, an increase of 3.21%
  • PPE of $15.5 million compared to $14.4 million, an increase of 7.86%
  • Total interest income of $33.5 million compared to $31.7 million, an increase of 5.57%

Three months ended September 30, 2024 compared to three months ended June 30, 2024

  • Net income of $11.8 million compared to $11.5 million, an increase of 2.20%
  • Earnings per share of $1.24 compared to $1.23, an increase of 0.81%
  • Total assets of $1.7 billion compared to $1.7 billion, an increase of 3.42%
  • Total loans of $1.4 billion compared to $1.4 billion, an increase of 6.32%
  • PPE of $15.5 million compared to $15.3 million, an increase of 1.61%
  • Total interest income of $33.5 million compared to $32.4 million, an increase of 3.24%

Both the Bank's and the Company's capital levels continue to be significantly above the minimum levels required to be designated as "well-capitalized" for regulatory purposes.  On September 30, 2024, the Bank's Tier 1 leverage ratio, Tier 1 risk-based capital ratio, and total risk-based capital ratios were 11.64%, 12.93%, and 14.12%, respectively.  On September 30, 2024, on a consolidated basis, the Company's Tier 1 leverage ratio, Tier 1 risk-based capital ratio, and total risk-based capital ratios were 11.64%, 12.92%, and 14.11%, respectively.  Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by bank regulators. 

Non-GAAP Financial Measures:
This earnings release contains the non-GAAP financial measure pre-provision pre-tax earnings ("PPE").  The Company's management uses this non-GAAP measure in their analysis of the Company's performance.  This measure adjusts GAAP performance to exclude from net income, income tax expense, provision for credit losses, and loss on sales and calls of available-for-sale debt securities.

 


For the Three Months Ended


September 30,
 2024


June 30,
 2024


September 30,
 2023

Calculation of Pre-Provision Pre-Tax Earnings ("PPE")

(Dollars in thousands)

Net Income

$             11,777


$             11,524


$               7,853

Income Tax Expense

3,719


3,731


2,351

Pre-tax net income

15,496


15,255


10,204

Add back: Provision for credit losses

-


-


4,159

Add back: (Gain)Loss on sales/calls of AFS debt securities

4


-


7

Pre-provision pre-tax earnings

15,500


15,255


14,370

 

Bank7 Corp.


Consolidated Balance Sheets











Assets

September 30, 2024
(unaudited)


December 31, 2023







Cash and due from banks

$             186,720


$             181,042


Interest-bearing time deposits in other banks

8,715


17,679


Available-for-sale debt securities

65,160


169,487


Loans, net of allowance for credit losses of $17,873 and





$19,691 at September 30, 2024 and December 31, 2023, respectively

1,419,671


1,341,148


Loans held for sale, at fair value

-


718


Premises and equipment, net

17,126


14,942


Nonmarketable equity securities

1,278


1,283


Core deposit intangibles

907


1,031


Goodwill

8,458


8,458


Interest receivable and other assets

32,407


35,878







Total assets

$          1,740,442


$          1,771,666







Liabilities and Shareholders' Equity










Deposits





Noninterest-bearing

$             322,480


$             482,349


Interest-bearing

1,201,736


1,109,042







Total deposits

1,524,216


1,591,391







Income taxes payable

427


302


Interest payable and other liabilities

11,637


9,647







Total liabilities

1,536,280


1,601,340







Shareholders' equity





Common stock, $0.01 par value; 50,000,000 shares authorized; shares 





issued and outstanding: 9,341,267 and 9,197,696 at September 30, 2024 





and December 31, 2023, respectively

93


92


Additional paid-in capital

100,760


97,417


Retained earnings

107,426


78,962


Accumulated other comprehensive loss

(4,117)


(6,145)







Total shareholders' equity

204,162


170,326







Total liabilities and shareholders' equity

$          1,740,442


$          1,771,666


 



Three Months Ended


Nine Months Ended



September 30,


September 30,



2024
(unaudited)


2023


2024
(unaudited)


2023

Interest Income









Loans, including fees


$         30,791


$      28,880


$        89,834


$      81,117

Interest-bearing time deposits in other banks


177


159


675


270

Debt securities, taxable


303


699


2,266


2,106

Debt securities, tax-exempt


69


81


214


253

Other interest and dividend income


2,148


1,903


6,221


5,398










Total interest income


33,488


31,722


99,210


89,144










Interest Expense









Deposits


12,271


10,976


34,752


27,894










Total interest expense


12,271


10,976


34,752


27,894










Net Interest Income


21,217


20,746


64,458


61,250










Provision for Credit Losses


-


4,159


-


5,645










Net Interest Income After Provision for Credit Losses


21,217


16,587


64,458


55,605










Noninterest Income









Mortgage lending income


103


6


233


172

Loss on sales, prepayments, and calls of available-for-sale debt securities


(4)


(7)


(4)


(15)

Service charges on deposit accounts


233


213


742


647

Other


3,345


795


7,881


1,668










Total noninterest income


3,677


1,007


8,852


2,472










Noninterest Expense









Salaries and employee benefits


5,333


4,910


15,740


14,299

Furniture and equipment


258


254


813


755

Occupancy


711


662


1,985


1,980

Data and item processing


498


424


1,437


1,280

Accounting, marketing and legal fees


218


14


582


491

Regulatory assessments


261


279


984


1,013

Advertsing and public relations


129


74


358


273

Travel, lodging and entertainment


87


85


270


255

Other


1,903


688


5,507


2,068










Total noninterest expense


9,398


7,390


27,676


22,414










Income Before Taxes


15,496


10,204


45,634


35,663

Income tax expense


3,719


2,351


11,045


8,457

Net Income


$         11,777


$        7,853


$        34,589


$      27,206










Earnings per common share - basic


$             1.26


$          0.86


$            3.73


$          2.97

Earnings per common share - diluted


1.24


0.85


3.68


2.94

Weighted average common shares outstanding - basic


9,323,622


9,158,027


9,264,616


9,152,788

Weighted average common shares outstanding - diluted


9,498,318


9,273,595


9,402,214


9,262,003










Other comprehensive income (loss)









Unrealized gains (losses) on securities, net of tax expense of $515 and tax benefit of $485









for the three months ended September 30, 2024 and 2023, respectively; net of tax expense









of $638 and $70 for the nine months ended September 30, 2024 and 2023, respectively


$           1,628


$          (372)


$          2,025


$           214

Reclassification adjustment for realized losses included in net income net of tax of $1 and $2









for the three months ended September 30, 2024 and 2023, respectively; $1 and $4 for the 









nine months ended September 30, 2024 and 2023, respectively


3


5


3


11

Other comprehensive income (loss)


$           1,631


$          (367)


$          2,028


$           225

Comprehensive Income


$         13,408


$        7,486


$        36,617


$      27,431

 



Net Interest Margin



For the Nine Months Ended September 30,



2024
(unaudited)


2023



Average
Balance


Interest
Income/
Expense


Average
Yield/
Rate


Average
Balance


Interest
Income/
Expense


Average
Yield/
Rate



(Dollars in thousands)

Interest-Earning Assets:













Short-term investments


$       180,426


$        6,896


5.09 %


$       162,432


$        5,668


4.67 %

Debt securities, taxable-equivalent


103,507


2,266


2.92


152,702


2,106


1.84

Debt securities, tax exempt


17,468


214


1.63


19,828


253


1.71

Loans held for sale


281


-


-


115


-


-

Total loans(1)


1,381,200


89,834


8.66


1,299,754


81,117


8.34

Total interest-earning assets


1,682,882


99,210


7.85


1,634,831


89,144


7.29

Noninterest-earning assets


39,499






22,560





Total assets


$    1,722,381






$    1,657,391


















Funding sources:













Interest-bearing liabilities:













Deposits:













Transaction accounts


$       872,635


25,726


3.93 %


$       812,962


20,346


3.35 %

Time deposits


255,348


9,026


4.71


257,418


7,548


3.92

Total interest-bearing deposits


1,127,983


34,752


4.10


1,070,380


27,894


3.48

Total interest-bearing liabilities


1,127,983


34,752


4.10


1,070,380


27,894


3.48














Noninterest-bearing liabilities:













Noninterest-bearing deposits


395,822






420,356





Other noninterest-bearing liabilities


12,219






10,496





Total noninterest-bearing liabilities


408,041






430,852





Shareholders' equity


186,357






156,159





Total liabilities and shareholders' equity


$    1,722,381






$    1,657,391


















Net interest income




$      64,458






$      61,250



Net interest spread






3.75 %






3.81 %

Net interest margin






5.10 %






5.01 %


(1)           Nonaccrual loans are included in total loans

 



Net Interest Margin



For the Three Months Ended September 30,



2024
(unaudited)


2023



Average
Balance


Interest
Income/
Expense


Average
Yield/
Rate


Average
Balance


Interest
Income/
Expense


Average
Yield/
Rate



(Dollars in thousands)

Interest-Earning Assets:













Short-term investments


$       191,583


$       2,325


4.81 %


$       176,589


$       2,062


4.63 %

Debt securities, taxable-equivalent


51,172


303


2.35


151,174


699


1.83

Debt securities, tax exempt


16,889


69


1.62


19,430


81


1.65

Loans held for sale


250


-


-


232


-


-

Total loans(1)


1,418,512


30,791


8.61


1,344,038


28,880


8.52

Total interest-earning assets


1,678,406


33,488


7.92


1,691,463


31,722


7.44

Noninterest-earning assets


40,002






23,407





Total assets


$    1,718,408






$    1,714,870


















Funding sources:













Interest-bearing liabilities:













Deposits:













Transaction accounts


$       922,117


9,237


3.97 %


$       823,331


7,733


3.73 %

Time deposits


253,640


3,034


4.75


292,235


3,243


4.40

Total interest-bearing deposits


1,175,757


12,271


4.14


1,115,566


10,976


3.90

Total interest-bearing liabilities


$    1,175,757


12,271


4.14


$    1,115,566


10,976


3.90














Noninterest-bearing liabilities:













Noninterest-bearing deposits


$       332,487






$       422,691





Other noninterest-bearing liabilities


12,221






11,649





Total noninterest-bearing liabilities


344,708






434,340





Shareholders' equity


197,943






164,964





Total liabilities and shareholders' equity


$    1,718,408






$    1,714,870


















Net interest income




$     21,217






$     20,746



Net interest spread






3.78 %






3.54 %

Net interest margin






5.02 %






4.87 %


(1)           Nonaccrual loans are included in total loans

 

About Bank7 Corp.

We are Bank7 Corp., a bank holding company headquartered in Oklahoma City, Oklahoma. Through our wholly-owned subsidiary, Bank7, we operate twelve locations 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.

Conference Call

Bank7 Corp. has scheduled a conference call to discuss its third quarter results, which will be broadcast live over the Internet, on Friday, October 11, 2024 at 10:00 a.m. central standard time. To participate in the call, dial 1-888-348-6421, or access it live over the Internet at https://app.webinar.net/A87GMojkvZD. For those not able to participate in the live call, an archive of the webcast will be available at https://app.webinar.net/A87GMojkvZD shortly after the call for 1 year.

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 impact 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 were BSVN's Q3 2024 net income and EPS?

BSVN reported a net income of $11.8 million and an EPS of $1.24 for Q3 2024.

How did BSVN's total assets and loans perform in Q3 2024?

Total assets decreased by 1.80% to $1.7 billion, while total loans increased by 3.21% to $1.4 billion.

What was BSVN's total interest income in Q3 2024?

BSVN's total interest income for Q3 2024 was $33.5 million, a 5.57% increase from Q3 2023.

How did BSVN's capital ratios stand as of September 30, 2024?

As of September 30, 2024, BSVN's Tier 1 leverage ratio was 11.64% and the total risk-based capital ratio was 14.12%.

What was BSVN's pre-provision pre-tax earnings (PPE) in Q3 2024?

BSVN's pre-provision pre-tax earnings (PPE) for Q3 2024 were $15.5 million.

Bank7 Corp.

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