UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 FORM 8-K


CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported)
 
April 30, 2020

Bank7 Corp.
(Exact name of registrant as specified in its charter)


Oklahoma
001-38656
20-0764349
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

1039 N.W. 63rd Street, Oklahoma City, Oklahoma 73116
(Address of principal executive offices) (Zip Code)

(405) 810-8600
 (Registrant’s telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value
BSVN
The NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company  ☑
 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.
Results of Operations and Financial Condition

Item 7.01
Regulation FD Disclosure

On April 30, 2020, Bank7 Corp. (the “Company”), the holding company for Bank7, issued a press release announcing its results of operation and financial condition for the three month period ended March 31, 2020.  A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

The Company is conducting a conference call on April 30, 2020 at 3:00 pm ET to discuss its first quarter 2020 financial results.   A copy of the presentation slides to be used during the earnings call is attached to this Current Report on Form 8-K as Exhibit 99.2 and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act except as shall be expressly set forth by specific reference in such filing.

Item 9.01
Financial Statements and Exhibits


(d)
Exhibits.

The following exhibits are filed herewith:

Item
  
Description
   
 
Press Release dated April 30, 2020
 
First Quarter 2020 Investor Presentation

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
BANK7 CORP.
     
Date: April 30, 2020
By:
/s/   Kelly J. Harris
   
Kelly J. Harris
   
Senior Vice President and Chief Financial Officer


Exhibit 99.1


FOR IMMEDIATE RELEASE: Bank7 Corp. Announces 1Q 2020 Earnings

Oklahoma City, OK, April 30, 2020 – Bank7 Corp. (NASDAQ: BSVN) ("the Company"), the parent company of Oklahoma City-based Bank7 (the "Bank"), today reported unaudited results for the fiscal quarter ended March 31, 2020.  “Our first quarter financial results were very good, but before moving into the data, we start by acknowledging the current pandemic-induced environment and its terrible effect on all aspects of our lives.  We are especially mindful and grateful to our Bank7 teammates, and will continue to work together to support each other, our customers, and our communities. Working together, we will overcome this.  Regarding our financial results, you can see that we benefited from robust loan growth, and our ability to maintain a strong NIM, especially considering the collapse in interest rates,” said Thomas L. Travis, President and CEO of the Company.

Three months ended March 31, 2020 compared to three months ended March 31, 2019:


 -
Pre-tax, pre-provision income of $7.4 million, an increase of 8.62%

-
Interest income on loans, including loan fee income, totaled $13.1 million, a 12.78% increase

-
Total assets of $974.4 million, an increase of 23.77%

-
Total loans of $785.7 million, an increase of 33.94%

-
Total deposits of $871.0 million, an increase of 26.84%

Additional Highlights

For the three months ended March 31, 2020 compared to three months ended March 31, 2019:


 -
Cost of funds was 1.09%, a decrease of 21.17%

-
Average loans of $747.8 million, an increase of 27.52%

-
Core deposits of $757.7 million, an increase of 23.83%

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.  At March 31, 2020 the Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 10.97%, 12.45%, and 13.56% respectively for the Bank.  At March 31, 2020 the Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 10.86%, 12.30%, and 13.41% respectively for the Company on a consolidated basis.  Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by bank regulators.
 
Pre-tax, pre-provision net income is defined as income before taxes and provision for loan losses. We believe the most directly comparable GAAP financial measure is income before taxes. Disclosure of this measure enables you to compare our operations to those of other banking companies before consideration of taxes and provision expense. We calculate our tax-adjusted net income, return on average assets, and return on average equity, and per share amounts by using a combined effective tax rate for federal and state income taxes of 25.3% and 25.0% in the first quarter of 2020 and 2019, respectively. We acknowledge that our non-GAAP financial measures have a number of limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other banking companies use. Other banking companies may use names similar to those we use for non-GAAP financial measures we disclose, but may calculate them differently. You should understand how we and other companies each calculate their non-GAAP financial measures when making comparisons. The following reconciliation table provides a more detailed analysis of these non-GAAP financial measures:

   
Three months ended
March 31,
  
(Dollars in thousands, except per share data)
  
2020
    
2019
  
Loan interest income (excluding loan fees)
            
Total loan interest income, including loan fee income
  
$
13,106
    
$
11,622
  
Loan fee income
    
(1,260
)
    
(1,289
)
Loan interest income excluding loan fee income
  
$
11,846
    
$
10,333
  
                 
Average total loans
  
$
747,774
    
$
586,408
  
Yield on loans (including loan fee income)
    
7.05
%
    
8.04
%
Yield on loans (excluding loan fee income)
    
6.37
%
    
7.15
%
                 
Net interest margin (excluding loan fees)
                
Net interest income
  
$
11,432
    
$
10,353
  
Loan fee income
    
(1,260
)
    
(1,289
)
Net interest income excluding loan fees
  
$
10,172
    
$
9,064
  
                 
Average earning assets
  
$
866,047
    
$
745,739
  
Net interest margin (including loan fee income)
    
5.31
%
    
5.63
%
Net interest margin (excluding loan fee income)
    
4.72
%
    
4.93
%
                 
Pre-tax, pre-provision net earnings
                
Net income before income taxes
  
$
6,759
    
$
6,821
  
Plus: Provision (reversal of) for loan losses
    
(650
)
    
-
  
Pre-tax, pre-provision net earnings
  
$
7,409
    
$
6,821
  
                 
Adjusted provision for income tax
                
Net income before income taxes
  
$
6,759
    
$
6,821
  
Total effective adjusted tax rate
    
25.3
%
    
25.0
%
Adjusted provision for income taxes
  
$
1,708
    
$
1,705
  
                 
Tax-adjusted net income
                
Net income before income taxes
  
$
6,759
    
$
6,821
  
Adjusted provision for income taxes
    
1,708
      
1,705
  
Tax-adjusted net income
  
$
5,051
    
$
5,116
  
                 
Tax-adjusted ratios and per share data
                
Tax-adjusted net income (numerator)
  
$
5,051
    
$
5,116
  
                 
Average assets (denominator)
  
$
874,803
    
$
754,176
  
Tax-adjusted return on average assets
    
2.32
%
    
2.75
%
                 
Average shareholders' equity (denominator)
  
$
101,718
    
$
90,813
  
Tax-adjusted return on average shareholders' equity
    
19.97
%
    
22.85
%
                 
Average tangible common equity (denominator)
  
$
99,957
    
$
88,839
  
Tax-adjusted return on average tangible common equity
    
20.32
%
    
23.35
%
                 
Weighted average common shares outstanding basic (denominator)
    
9,973,359
      
10,187,500
  
Tax-adjusted net income per common share--basic
  
$
0.51
    
$
0.50
  
                 
Weighted average common shares outstanding diluted (denominator)
    
9,973,819
      
10,187,500
  
Tax-adjusted net income per common share--diluted
  
$
0.51
    
$
0.50
  
                 
Tangible assets
                
Total assets
  
$
974,350
    
$
787,236
  
Less: Goodwill and intangibles
    
(1,737
)
    
(1,943
)
Tangible assets
  
$
972,613
    
$
785,293
  
                 
Tangible shareholders' equity
                
Total shareholders' equity
  
$
97,616
    
$
93,753
  
Less: Goodwill and intangibles
    
(1,737
)
    
(1,943
)
Tangible shareholders' equity
  
$
95,879
    
$
91,810
  
                 
Tangible shareholders' equity
                
Tangible shareholders' equity (numerator)
  
$
95,879
    
$
91,810
  
Tangible assets (denominator)
  
$
972,613
    
$
785,293
  
Tangible common equity to tangible assets
    
9.86
%
    
11.69
%
                 
End of period common shares outstanding
    
9,264,412
      
10,187,500
  
Book value per share
  
$
10.54
    
$
9.20
  
Tangible book value per share
  
$
10.35
    
$
9.01
  
Total shareholders' equity to total assets
    
10.02
%
    
11.91
%
 
         
Net Interest Margin Excluding Loan Fee Income
  
         
For the Three Months Ended March 31,
  
   
2020
    
2019
  
   
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(1)
  
$
117,046
    
$
398
      
1.37
%
  
$
158,068
    
$
956
      
2.45
%
Investment securities(2)
    
1,100
      
3
      
1.10
      
1,055
      
—
      
0.00
  
Loans held for sale
    
127
      
—
      
0.00
      
208
      
—
      
0.00
  
Total loans(3)
    
747,774
      
11,846
      
6.37
      
586,408
      
10,333
      
7.15
  
Total interest-earning assets
    
866,047
      
12,247
      
5.69
      
745,739
      
11,289
      
6.14
  
Noninterest-earning assets
    
8,756
                      
8,437
                  
Total assets
  
$
874,803
                    
$
754,176
                  
                                                 
Funding sources:
                                                
Interest-bearing liabilities:
                                                
Deposits:
                                                
Transaction accounts
  
$
342,406
      
1,010
      
1.19
%
  
$
285,289
      
1,299
      
1.85
%
Time deposits
    
205,085
      
1,065
      
2.09
      
192,499
      
925
      
1.95
  
Total interest-bearing deposits
    
547,491
      
2,075
      
1.52
      
477,788
      
2,224
      
1.89
  
Other borrowings
    
—
      
—
      
0.00
      
—
      
—
      
0.00
  
Total interest-bearing liabilities
    
547,491
      
2,075
      
1.52
      
477,788
      
2,224
      
1.89
  
                                                 
Noninterest-bearing liabilities:
                                                
Noninterest-bearing deposits
    
221,000
                      
179,801
                  
Other noninterest-bearing liabilities
    
4,594
                      
5,774
                  
Total noninterest-bearing liabilities
    
225,594
                      
185,575
                  
Shareholders’ equity
    
101,718
                      
90,813
                  
Total liabilities and shareholders’ equity
  
$
874,803
                    
$
754,176
                  
                                                 
Net interest income including loan fee income
          
$
10,172
                    
$
9,064
          
Net interest spread including loan fee income(4)
                    
4.16
%
                    
4.25
%
Net interest margin including loan fee income
                    
4.72
%
                    
4.93
%

   
Net Interest Margin With Loan Fee Income
  
   
For the Three Months Ended March 31,
  
   
2020
    
2019
  
   
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(1)
  
$
117,046
    
$
398
      
1.37
%
  
$
158,068
    
$
956
      
2.45
%
Investment securities(2)
    
1,100
      
3
      
1.10
      
1,055
      
—
      
0.00
  
Loans held for sale
    
127
      
—
      
0.00
      
208
      
—
      
0.00
  
Total loans(3)
    
747,774
      
13,106
      
7.05
      
586,408
      
11,622
      
8.04
  
Total interest-earning assets
    
866,047
      
13,507
      
6.27
      
745,739
      
12,578
      
6.84
  
Noninterest-earning assets
    
8,756
                      
8,437
                  
Total assets
  
$
874,803
                    
$
754,176
                  
                                                 
Funding sources:
                                                
Interest-bearing liabilities:
                                                
Deposits:
                                                
Transaction accounts
  
$
342,406
      
1,010
      
1.19
%
  
$
285,289
      
1,299
      
1.85
%
Time deposits
    
205,085
      
1,065
      
2.09
      
192,499
      
925
      
1.95
  
Total interest-bearing deposits
    
547,491
      
2,075
      
1.52
      
477,788
      
2,224
      
1.89
  
Other borrowings
    
—
      
—
      
0.00
      
—
      
—
      
0.00
  
Total interest-bearing liabilities
    
547,491
      
2,075
      
1.52
      
477,788
      
2,224
      
1.89
  
                                                 
Noninterest-bearing liabilities:
                                                
Noninterest-bearing deposits
    
221,000
                      
179,801
                  
Other noninterest-bearing liabilities
    
4,594
                      
5,774
                  
Total noninterest-bearing liabilities
    
225,594
                      
185,577
                  
Shareholders’ equity
    
101,718
                      
90,813
                  
Total liabilities and shareholders’ equity
  
$
874,803
                    
$
754,176
                  
                                                 
Net interest income excluding loan fee income
          
$
11,432
                    
$
10,353
          
Net interest spread excluding loan fee income(4)
                    
4.75
%
                    
4.95
%
Net interest margin excluding loan fee income
                    
5.31
%
                    
5.63
%

(1)
Includes income and average balances for fed funds sold, interest-earning deposits in banks and other miscellaneous interest-earning assets.

(2)
Includes income and average balances for FHLB and FRB stock.

(3)
Non-accrual loans are included in loans.

(4)
Net interest spread is the average yield on interest-earning assets minus the average rate on interest-bearing liabilities.

Bank7 Corp.
Consolidated Balance Sheets

Dollars in thousands, exceper per share data
  
Unaudited as of
        
   
March 31,

December 31,
  
Assets
  
2020
    
2019
  
             
Cash and due from banks
  
$
148,626
    
$
117,128
  
Interest-bearing time deposits in other banks
    
30,102
      
30,147
  
Loans, net
    
777,220
      
699,458
  
Loans held for sale
    
-
      
1,031
  
Premises and equipment, net
    
9,644
      
9,624
  
Nonmarketable equity securities
    
1,089
      
1,100
  
Goodwill and intangibles
    
1,737
      
1,789
  
Interest receivable and other assets
    
5,932
      
6,115
  
 
                
Total assets
  
$
974,350
    
$
866,392
  
                 
Liabilities and Shareholders’ Equity
                
                 
Deposits
                
Noninterest-bearing
  
$
254,735
    
$
219,221
  
Interest-bearing
    
616,221
      
538,262
  
 
                
Total deposits
    
870,956
      
757,483
  
 
                
Income taxes payable
    
1,817
      
357
  
Interest payable and other liabilities
    
3,961
      
8,426
  
 
                
Total liabilities
    
876,734
      
766,266
  
 
                
Common stock
    
93
      
101
  
Additional paid-in capital
    
92,571
      
92,391
  
Retained earnings
    
4,952
      
7,634
  
 
                
Total shareholders’ equity
    
97,616
      
100,126
  
 
                
Total liabilities and shareholders’ equity
  
$
974,350
    
$
866,392
  

Bank7 Corp.
Consolidated Statements of Income


  
Unaudited as of
  

 
Quarter Ended
  
   
March 31,
  
Dollars in thousands, exceper per share data
  
2020
    
2019
  
Interest Income
            
Loans, including fees
  
$
13,106
    
$
11,622
  
Interest-bearing time deposits in other banks
    
162
      
417
  
Interest-bearing deposits in other banks
    
239
      
538
  
 
                
Total interest income
    
13,507
      
12,577
  
 
                
Interest Expense
                
Deposits
    
2,075
      
2,224
  
 
                
Total interest expense
    
2,075
      
2,224
  
 
                
Net Interest Income
    
11,432
      
10,353
  
 
                
Provision for Loan Losses
    
650
      
-
  
 
                
Net Interest Income After Provision for Loan Losses
    
10,782
      
10,353
  
 
                
Noninterest Income
                
Secondary market income
    
38
      
37
  
Service charges on deposit accounts
    
119
      
60
  
Other
    
173
      
126
  
 
                
Total noninterest income
    
330
      
223
  
 
                
Noninterest Expense
                
Salaries and employee benefits
    
2,474
      
2,171
  
Furniture and equipment
    
216
      
159
  
Occupancy
    
461
      
343
  
Data and item processing
    
276
      
262
  
Accounting, marketing and legal fees
    
126
      
147
  
Regulatory assessments
    
23
      
32
  
Advertising and public relations
    
269
      
186
  
Travel, lodging and entertainment
    
53
      
42
  
Other
    
455
      
413
  
 
                
Total noninterest expense
    
4,353
      
3,755
  
                 
Income Before Taxes
    
6,759
      
6,821
  
Income tax expense
    
1,708
      
1,705
  
Net Income
  
$
5,051
    
$
5,116
  
 
                
Earnings per common share - basic
  
$
0.51
    
$
0.50
  
Diluted earnings per common share
    
0.51
      
0.50
  
Weighted average common shares outstanding - basic
    
9,973,359
      
10,187,500
  
Weighted average common shares outstanding - diluted
    
9,973,819
      
10,187,500
  

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 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 first quarter results, which will be broadcast live over the Internet, on Thursday, April 30 at 3:00 p.m. Eastern Time. To participate in the call, dial 1-888-348-6421, or access it live over the Internet at https://www.webcaster4.com/Webcast/Page/2179/34185.   For those not able to participate in the live call, an archive of the webcast will be available at https://www.webcaster4.com/Webcast/Page/2179/34185 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 of COVID-19 on the United States economy and our operations, 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.

About Non-GAAP Financial Measures

This communication includes certain non-GAAP financial measures, including tax-adjusted net income, tax-adjusted earnings per share, tax-adjusted return on average assets and tax-adjusted return on average shareholders’ equity. These non-GAAP financial measures and any other non-GAAP financial measures that we discuss in this presentation should not be considered in isolation, and should be considered as additions to, and not substitutes for or superior to, measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of Bank7 Corp.’s non-GAAP financial measures as tools for comparison. See the table above in this communication for a reconciliation of the non-GAAP financial measures used in (or conveyed orally during) this communication to their most directly comparable GAAP financial measures.

Contact:
 
Thomas Travis
President & CEO
(405) 810-8600


Exhibit 99.2
 
 Corporate Overview NASDAQ: BSVN    March 31, 2019  March 31, 2020  $ Change  % Change  Assets  $787 million  $974 million  $187 million  23.8%  Loans  $587 million  $786 million  $199 million  33.9%  Deposits  $687 million  $871 million  $184 million  26.8%  Historically Ranked as One of the Top Performing Community Banks in the United States.(1)Track Record of Strong Profitability and Expense Control.Intense Focus on Underwriting and Asset Quality.Scalable and Consistently Growing Platform.A company that provides commercial banking services to businesses and their owners, 98.6% of our loans are commercial purpose loans. We deliver our products and services using a “branch-lite” model.  Bank7 and its bankers are relationship bankers. Those factors, combined with our superb efficiency ratio and revenue per employee metrics, consistently produce strong profits, which provides a healthy shock-absorption cushion to our already-high levels of capital.     (1) Best-performing community banks of 2018 under $3B in assets, S&P Global Market Intelligence - https://www.spglobal.com/marketintelligence/en/news-insights/trending/5zt6a8x6w9-uBR3RAAq5xg2  1 
 
   Corporate Overview  NASDAQ: BSVN    March 31,2019  March 31,2020  $ Change  % Change  Assets  $787 million  $974 million  $187 million  23.8%  Loans  $587 million  $786 million  $199 million  33.9%  Deposits  $687 million  $871 million  $184 million  26.8%  A company that provides commercial banking services to businesses and their owners, 98.6% of our loans are commercial purpose loans. We deliver our products and services using a “branch-lite” model. Bank7 and its bankers are relationship bankers.Those factors, combined with our superb efficiency ratio and revenue per employee metrics, consistently produce strong profits, which provides a healthy shock-absorption cushion to our already-high levels of capital.Historically Ranked as One of the Top Performing Community Banks in the United States.(1)Track Record of Strong Profitability and Expense Control.Intense Focus on Underwriting and Asset Quality.Scalable and Consistently Growing Platform.  (1) Best-performing community banks of 2018 under $3B in assets, S&P Global Market Intelligence -https://www.spglobal.com/marketintelligence/en/news‐insights/trending/5zt6a8x6w9‐uBR3RAAq5xg2  1   
 
   First Quarter Accomplishments      Strong Core Earnings  •  Loan growth and our stable net interest margin increased our net interest income, which also increased pre-tax, pre-provision income(1) by $588,000 YoY, or 8.6% from $6.8 million in Q1 2019, and did so in spite of falling interest rates.The Company earned $10.2 million in net interest income excluding loan fees in Q1 2020 compared to $9.1 million for Q1 2019(2).      All-time Highs & Robust Growth  •  Ended the quarter with $974.4 million in total assets, $785.7 million in total loans, and$871.0 million in total deposits.Changes from Q1 2019 to Q1 2020:Total assets increased $187.1 million, or 23.8%Total loans increased $199.1 million, or 33.9%Total deposit growth of $184.3 million, or 26.8%Despite our growth in assets, we have maintained a strong liquidity ratio, 20.39% as of quarter-end.  2          Capital Management  •  We paid our quarterly dividend of 10 cents per share (40 cents per share or 5.0% yield annualized based on a share price of $7.94).The Board of Directors approved an expansion of the stock buyback program, and as of quarter-end, the Company had repurchased approximately 793,000 shares, at an average price of $8.59 per share (83.8% of average Q1 tangible book value).Share repurchases were immediately accretive, as we ended the quarter with a tangible book value per share of $10.35, versus $10.22 without share repurchases.  Pre-tax, pre-provision income is a non-GAAP financial measure. See Appendix for reconciliation to its most comparable GAAP measure.Net interest income excluding fees is a non-GAAP financial measure. See non-GAAP reconciliation table for reconciliation to its most comparable GAAP measure. 
 
   Income Statement as a Percentage of Average Assets  3   2016 2017 2018 2019 Peer Group Peer Group Peer Group Peer Group          Median(1)  BSVN  Median(1)  BSVN  Median(1)  BSVN  Median(1)  BSVN(2)  Net Interest Income  3.29%  5.07%  3.30%  5.79%  3.42%  5.38%  3.37%  5.28%  Non-Interest Income  0.75%  0.28%  0.72%  0.22%  0.66%  0.18%  0.69%  0.16%  Non-Interest Expense  2.75%  2.23%  2.70%  2.21%  2.72%  2.03%  2.64%  2.08%  Pre-tax, Pre-provision Earnings  1.36%  3.12%  1.42%  3.80%  1.50%  3.53%  1.46%  3.36%  Provision Expense  0.11%  0.26%  0.11%  0.19%  0.10%  0.03%  0.08%  0.00%  Net Income  0.90%  1.77%  0.76%  2.17%  1.11%  2.72%  1.10%  2.51%  ROATCE  9.86%  22.01%  8.37%  23.58%  11.55%  26.61%  11.16%  19.85%  Net Interest Margin  3.60%  5.16%  3.67%  5.87%  3.73%  5.49%  3.65%  5.35%  Efficiency Ratio  65.13%  41.48%  63.16%  35.98%  61.84%  36.02%  62.63%  38.53%        Pre-tax Pre-provision Return on Average Assets                                                                3.12%  3.80%  3.53%  3.36%  1.36%  1.42%  1.50%  1.46%  4.00%3.50%3.00%2.50%2.00%1.50%1.00%0.50%0.00%  2016  2017  2018  2019                  Peers BSVNDollars are in thousandsIncludes major exchange-traded banks nationwide with assets between $500mm-$5bn (192 banks); Source: S&P Global Market Intelligence.Excludes non-cash executive stock transfer compensation expense of $11,796. 
 
   4  Ability to withstand pandemic-induced economic stress illustrated over two years    Dollars are in millionsThe above is simply an illustration and should not be considered a projection or forward-looking guidance of any kind.Excess capital to target ratio expressed in % is the difference between the actual ratio and regulatory minimum divided by the regulatory minimum.Excess capital to target ratio expressed in $ is the excess capital % multiplied by either average assets or risk-weighted assets, assuming a static balance sheet over the  next 24 months.Trailing twelve months pre-tax pre-provision income of $27.45 million extrapolated over two years. Excludes the one-time non-cash executive stock transaction in Q3 2019.Assumes a quarterly $0.10 dividend over the next two years based on the current share count of 9,264,412.  Shock-Absorption            Less: $0.10  Total Shock  Regulatory  Q1 2020  Excess Capital  Excess Capital to  Add: Pre-Tax Pre-  quarterly  Absorption Ability  Minimum  Capital  to Target Ratio  Target Ratio  Provision Income  dividend over  Prior to Hitting Reg  Target Ratio  Ratios  Expressed in %(1)  Expressed in $(2)  Cushion(3)  two years(4)  Minimums  Tier 1 Leverage Ratio  4%  10.86%  171.50%  $60.0  +  $54.9  -  $7.4  =  $107.5  Common Equity Tier 1 Ratio  7%  12.30%  75.71%  $40.9  +  $54.9  -  $7.4  =  $88.4  Tier 1 Risk Based Capital Ratio  8.5%  12.30%  44.71%  $29.3  +  $54.9  -  $7.4  =  $76.8  Total Risk Based Capital Ratio  10.5%  13.41%  27.71%  $22.4  +  $54.9  -  $7.4  =  $69.9 
 
               $8.3  $10.4  $14.3  $20.1  $8.2  $5.1  $5.1  2015  2016  2017  2018  2019  Q1 2019 Q1 20208.6% increase YoY    Bank7 Corp. Key Statistics      For the Three Months Ended March 31, 2020        After Tax Net Income(2)(3)  Dollars are in millions.Financial data is as of or for the twelve months ended December 31 of each respective year or the three months ended March 31, 2020.  Tangible shareholders’ equity and tangible shareholders’ equity to tangible assets are non-GAAP financial measures. See non-GAAP reconciliation table for reconciliation to their most comparable GAAP measures.Profitability metrics are tax-adjusted as if the Company were a C Corporation at the estimated tax rates for the respective periods. Combined federal and state effective tax rates for the three months ended March 31,  2019 and 2020 were 25.0% and 25.3% respectively.Pro Forma 2019 net income is a non-GAAP financial measure which adds back the one-time, extraordinary compensation expense related to the non-cash executive stock transaction that took place during the period. See Pro Forma Net Income reconciliation table for detailed calculation of this measure.Net interest margin (excluding loan fee income) is a non-GAAP financial measure. See non-GAAP reconciliation table for reconciliation to its most comparable GAAP measure.      Total Assets  5  Balance Sheet    Total assets  $974.4  Total loans  785.7  Total deposits  871.0  Noninterest-bearing deposits  254.7  Tangible shareholders' equity (1)  95.9  Profitability    Net Income  $5.1  Efficiency ratio  37.00%  Return on average assets  2.32  Return on average tangible common equity  20.32  Net interest margin  5.31  Net interest margin (excluding loan fee income) (4)  4.72  Loans to deposits  90.2  Capital Ratios    Tangible shareholders' equity to tangible assets (1)Tier 1 leverage ratioTier 1 risk-based capital ratio Total risk-based capital ratio  9.86%10.8612.3013.41  Asset Quality  Nonperforming assets to loans and OREO 0.42%  Nonperforming loans to total loans  0.42  Allowance for loan losses to total loans  1.08  Allowance for loan losses to nonperforming loans  256.7  Net charge-offs to average loans  -0.002                $974.4$866.4$770.5$703.6$613.8$563.5  2015  2016 2017 2018  2019  Q1 2020    Pro Forma$20.0    Pre-tax Pre-provision$6.8  Pre-tax Pre-provision$7.4   
 
                                                                                       $7.5  $8.5  $8.8  $10.7  $11.1  $12.2  2.29%  2.23%  2.21%  2.05%  2.00%  5.00%4.50%4.00%3.50%3.00%2.50%2.00%1.50%1.00%0.50%0.00%  2015 2016 2017 2018  2019  Q1 2020  $1.0  $2.5  $4.0  $5.5  $7.0  $8.5  $10.0  $11.5  $13.0            Assets / Full-time equivalent employee Noninterest expense to average assets                21.1%  21.7%  23.3%  8.6%  20.3%  2015  Q1 2020                1.65%  1.78%  2.17%  1.03%  2.32%  2015  2016  2019  Q1 2020                41.9%  42.3%  37.2%  37.0%  65.4%  37.0%  2015 2016 2017 2018 2019 Q1 2020  A Continuation of BSVN Exceptional Performance      Return on Average Assets (1)(2)      Return on Average Tangible Common Equity (1) (2)  Dollars are in millionsFinancial data is as of or for the twelve months ended December 31 of each respective year or for the three months ended March 31, 2020.(1) Profitability metrics are tax-adjusted as if the Company were a C Corporation at the estimated tax rates for the respective periods.  (2) Pro Forma YTD ROAA, ROATCE, efficiency ratio, and noninterest expense to average assets ratio are non-GAAP financial measures. See non-GAAP reconciliation table for reconciliation to their most comparable GAAP measures.      2016 2017 2018 2019Leveraging Our Employee Base(2)      2017 2018Efficiency Ratio(2)  We continue to produce excellent returns on average assets (ROAA) and also on average tangible common equity (ROATCE). Annualized ROAA and ROATCE for the quarter were 2.35% and 20.5%, respectively.We have maintained our excellent efficiency ratio, as highlighted by our low noninterest expense to average assets ratio. Our efficiency ratio for the quarter was 37.0%.  6  5 ‐ y e a r a v e r a g e : 2 . 1 7 % 2.75%      5 ‐ y e a r a v e r a g e : 2 2 . 7 % 26.4%    Forma    Pro Forma  2.08%Pro Forma  Pro Forma      38.3%    2.51%Pro    20.9%      3.56%Actual 
 
       $5.1  $5.1  Net Income    March 31, 2019    March 31, 2020  Balance Sheet and Earnings Growth  Dollars are in millions, except earnings per share.Financial data is as of the twelve months ended December 31 of each respective year or as of or for the three months ended March 31, 2020 and 2019.(1) Tangible book value per share is a non-GAAP financial measure. See Appendix for reconciliation to its most comparable GAAP measure.      Balance Sheet and Earnings Growth      Tangible Book Value (1)  For Q1, tangible book value per share grew by $0.57, or 5.8% (23.4% annualized).Balance sheet growth remains strong YOY, highlighted by 33.9% of loan growth, deposit growth of 26.8%, 23.8% total asset growth and 4.2% growth in total shareholders’ equity.We grew pre-tax, pre-provision earnings by 8.62% YOY in a falling interest rate environment, despite expenses related to our newly opened Dallas and Tulsa locations.  7        $93.8  $97.6  Total shareholders' equity                $787.2  $586.6  $686.7  $974.4  $785.7  $871.0  Total assets  Total loans  Total deposits                $7.24  $7.92  $8.49  $9.78  $10.35  2016 2017 2018 2019 Q1 '20 
 
   Net Interest Margin  Financial data is as of or for the twelve months ended December 31 of each respective year, and as of the three months ended March 31, 2020.Net interest margin (excluding loan fee income) is a non-GAAP financial measure. See Appendix for reconciliation to their most comparable GAAP measures.      Net Interest Margin  Net interest margin excluding loan fee income continues to remain well within our historical range.  8                                      4.63%  4.37%  4.59%  4.78%  4.78%  4.72%  0.62%  0.79%  1.28%  0.71%  0.57%  0.59%  5.25%  5.16%  5.87%  5.49%  5.35%  5.31%  2015  2016  2017  2018  2019  Q1 2020      Net Interest Margin (excluding loan fee income)    Loan Fee Income Contribution 
 
               0.07%  0.09%  0.004%  2016 2017 2018  -0.002%2019  -0.002%Q1 2020          Nonperforming Assets to Loans and OREO  Asset Quality      Asset quality remained strong, our quality underwriting and disciplined lending practices continued to produce low levels of nonperforming assets.  ALLL increased by $650,000, or 8.3%.  Net recoveries of $17,000 in Q1 2020.  We have experienced low historical net charge-offs and virtually zero oil & gas related charge-offs.  9              0.45%  0.35%  0.45%  0.47%  0.42%  2016  2017 2018 2019 Q1 2020Allowance for Loan Losses to Total Loans              1.37% 1.36%  1.31%  1.11%  1.08%  2016  2017 2018 2019Net Charge-Offs to Average Loans  Q1 2020                  319.53%  Allowance for Loan Losses to Nonperforming Loans404.55%  299.50%  235.40%  256.72%  2016 2017 2018 2019 Q1 2020Financial data is as of or for the twelve months ended December 31 of each respective year and as of or for the three months ended March 31, 2020. 
 
   Diversified Loan Portfolio  Dollars are in millions. Data as of March 31, 2020.      Gross Loan Portfolio Composition by Purpose Type                                                                                          Agricultural Non- Farmland$25.943.3%  Agricultural Farmland$25.00 3.2%  Hospitality construction$14.88 1.9%Commercial construction$32.79 4.2%   1-4 family construction$39.65 5.0%  1-4 family (commercial purpose)$34.764.4%  Owner-occupied CRE$71.17 9.0%  Hospitality - operational properties CRE$160.6520.4%  Non-owner-occupied CRE$48.65 6.2%  Energy - service companies$32.174.1%Energy - midstream$21.99 2.8%  Energy - mineral / royalty interest$28.323.6%  Energy - exploration & production$13.761.7%  Commercial and industrial$227.0628.8%  Consumer$10.90 1.4%    Loan Portfolio Trends - Selected Categories          % of Total  % of Total  C&I  $73.87  32%  $60.58  21%  $117.41  37%   Q1 2019   Loans Q1 2020  Loans  Hospitality  72.16  31%  98.63  35%  115.70  37%  Top 20 Relationships  Industry 12/31/2018 12/31/2019 3/31/2020          Commercial & industrial  $124.88    21.24%    $227.06    28.83%  CRE - Owner Occupied  9.65  4%  47.96  17%  48.70  16%    Hospitality  137.36    23.42%    175.53    22.28%  Energy  64.22  28%  49.72  17%  31.46  10%    Energy  105.60    18.00%    96.24    12.22%  Other  12.38  5%  28.98  10%  -  0%    Agricultural  56.99    9.71%    50.94    6.47%    $232.28    $285.86    $313.27                                    10 
 
   Hospitality Loan Portfolio Detail  11  Blue collar portfolio that is better protected by the “cycle-down” effect of a recession.  Experienced owner/operators with decades of history that spans multiple recessions.Our operators only need 45-55% occupancy to amortize debt.  Diversified exposure to many reputable brands.  Mix of business, leisure, and interstate travel dependency.  Economy  16  $34.28  Midscale  22  111.43  Upper Midscale  5  29.82  Upscale  0  -  Luxury  0  -  Grand Total  43  $175.53   Hotel Portfolio Exposure by Class Number Balance as of Flag Type of Hotels Q1 2020   Hotel Portfolio Exposure by Flag# of Balance as of Hotel Flag hotels Q1 2020       Springhill Suites by Marriott  3  $34.29  Aloft Hotel  3  20.89  Holiday Inn Express & Suites  4  20.06  Home2 Suites - Hilton  2  8.93  La Quinta Inn & Suites  4  14.22  Quality Inn & Suites  3  15.43  Wingate by Wyndham Hotel  2  13.70  Red Roof Inn  3  9.35  Best Western  2  10.86  Other Brands  13  23.27  Independent  4  4.52  Grand Total  43  $175.53  Dollars are in millions. 
 
   Hospitality Loan Portfolio Detail  12  Equity advantage – Average loan per room is $45,400 vs. estimated replacement cost of $115,000 per room.Consistent underwriting fundamentals.  Concentrated in “Drive-To” markets with no exposure to “Gateway” cities.No exposure to towns or cities that are heavily dependent on the energy space.      Portfolio Metrics – 34 Operating Properties  Dollars are in millions except per room data. Data as of March 31, 2020.  Average Loan Size  $4.73  Average Loan to Value  62%  Average DCR  1.34  Average Remaining Amortization  15.1 Years    Metro  #  OutstandingBalance  Commitment    Dallas/Ft. Worth Metro Area  25  $102.44  58.36% $162.80  69.02%  Other Texas Metros  9  30.26  17.24% 30.26  12.83%  Other  9  42.83  24.40% 42.83  18.16%  Grand Total  43  $175.53  100.00% $235.89  100.00%   
 
   Dollars are in millions  Liquid Guarantor: Includes any loan that is backed by a guarantor with liquidity that exceeds 50% of the outstanding balance of a secured loan.Minimally Impacted: Includes borrowers that have yet to be affected by lower prices (ex. crude oil transportation, contractors working on long-term infrastructure projects) (3)(4)  Moderate Risk: Includes borrowers that have been significantly impacted by lower prices but collateral that is useful in other industries (ex. Trucks, Cranes, Rolling Stock etc.) Includes drilling contractors, roustabout operations and various suppliers.  Energy Portfolio Exposure   Exploration & Production   $13.76 Midstream   $21.99 Mineral/Royalty $28.32 Service   Energy Portfolio Total Loan Balance  $32.17  $96.24  Less: Minimal Risk due to Liquid Guarantor Support    (20.47)  Less: Minimal Risk due to Hedged Production, Low LTV, and/or Long Production Life    (10.65)  Less: Minimal Risk due to Environmentally Driven Midstream Activity    (15.12)  Less: Minimal Risk due to Low Loan to Value on Income Producing Mineral Rights/Royalties    (19.06)  Less: Minimal Risk due to Insignificant Impact of Low Oil Prices to Date    (3.74)  Sub‐Total ‐ Remaining Loans With Moderate or Elevated Risk    27.20  Less: Moderate Risk due to Primary Collateral Type (ex. Trucks, Cranes, Rolling Stock etc.)    (9.04)  Sub‐Total ‐ Remaining Loans With Elevated Risk    18.16  Liquid Guarantor (1), Low decline production with amortizing ability at $30/barrel oil  23%  $3.11      Hedged Production into 2021; 2 year remaining amortization or less, low loan to value  61%  8.36  Minimal  risk  Low Decline Production, More than half of this exposure is backed by natural gas production  17%  2.29      Liquid Guarantor (1)Midstream Equipment; Midstream A/R  96%  concentrated to a single,  deeply  experienced,  well-capitalized group  31%66%2%  $6.87 14.590.53  Minimal  risk  Loan to cost  below 50%  67%  $19.06  Minimal risk  Loan to cost  above 50%  33%  9.26  Elevated risk  Liquid Guarantor (1)Oilfield activity minimally impacted (2)        33%12%  $10.493.74  Minimal risk  Heavily Impacted; Not Oilfield Specific Collateral (3)        28%  9.04  Moderate risk  Heavily Impacted; Oilfield Specific Equipment, A/R, Energy company A/R & oilfield inventory  and/or Real  Estate  (4)  25%2%  8.120.78  Elevated risk          13 
 
         Development and Lot Exposure  Low exposure in the lot & land development category – total of lot & land development loans was$21.1 million, or 2.69% of total loans at the end of Q1.Minimal raw land exposure – book balance of $504,945, or 0.64% of the total loan portfolio, and no additional commitments.14      2016  2017  2018  2019  Q1 2020  Lot & land development - total funded  $24.90  $15.70  $12.20  $15.30  $21.10  Lot & land development - total loans  4.96%  2.79%  2.03%  2.16%  2.69%      Dollars are in millions.  1 – 4 Family Construction        Homebuilder Loans  83% of 1-4 Family Construction loans are for low to moderate priced homes.           Loan Range   # ofHomes  % Homes perRange (#)  $ Committedper Range  % Committedper Range ($)    $450M and up  15  5%  $10.00  17%    $350M to $450M  8  3%  3.00  5%  83% of  $250M to $350M  36  12%  10.50  17%  exposure  $150M to $250M  110  36%  21.70  36%  below  $150M and Under  135  44%  14.60  25%  $450,000  Totals  304  100%  $59.80  100%     
 
   Deposit Composition      Historical Deposit Growth          Deposit Composition as of March 31, 2020  85.1% of our loan customers also had a deposit relationship with us as of March 31, 2020.  Core Deposits(1)  Total organic core deposit growth YOY was $145.8M, or 23.8%.  Core deposits totaled $757.7 million as of March 31, 2020 compared to $611.9 million as of March 31, 2019.      Commentary  15                    76.8%                                                                        23.2%    26.5%    29.8%    28.9%    29.2%  2016    2017    2018    2019    Q1 2020  73.5%  70.2%  71.1%  70.8%  $549.6  $625.8  $675.9  $757.5  $871.0      Noninterest-bearing deposits Interest-bearing depositsDollars are in millions.Financial data is as of or for the twelve months ended December 31 of each respective year and as of or for the three months ended March 31, 2020.(1) We define core deposits as deposits obtained directly from the depositor and exclude deposits obtained from listing services and brokered deposits that are obtained through an intermediary.                            Noninterest- bearing demand$254.729.2%  NOW deposits$169.6 19.5%  Money Markets$141.1 16.2%  Savings$64.9 7.5%  Time deposits >$100,000$215.224.7%  Time deposits<$100K$25.52.9% 
 
 Appendix  16 
 
   2019 Pro Forma Net Income Reconciliation  17  On September 5, 2019, our largest shareholders, the Haines Family Trusts, contributed approximately 6.5% of their shares (656,925 shares) to the Company. Subsequently, the Company immediately issued those shares to certain executive officers, which was charged as compensation expense of $11.8 million, including payroll taxes, through the income statement of the Company. Additionally, at the discretion of the employees receiving shares to assist in paying tax withholdings, 149,425 shares were withheld and subsequently canceled, resulting in a charge to retained earnings of $2.6 million.  For the Year Ended December 31,2019  (Dollars in thousands) Pro Forma Net Income Total Interest Income  51,709  $      Total Interest Expense   $ 9,516  Net Interest Margin   $ 42,193  Provision for Loan Losses   $ -   Noninterest Income   $ 1,308  Noninterest Expense  $ 28,432  Less: Stock Transfer Comp. Expense   $ (11,796)  Pro Forma Noninterest Expense   $ 16,636  Pro Forma Pre-Tax Income   $ 26,866  Pro Forma Income Tax Expense (1)   $ 6,836  Pro Forma Net After-Tax Income   $ 20,030 
 
   Bank7 Corp. Financials  Net income and earnings per share are tax-adjusted as if the Company were a C Corporation at the estimated tax rates for the respective periods. EPS calculation is based on diluted shares. Combined federal and state effective tax rates for the three months ended March 31, 2019 and 2020 were 25.0% and 25.3%, respectively.Represents a non-GAAP financial measure. See non-GAAP reconciliations table for reconciliation to its more comparable GAAP measure.All pro forma amounts relate to the one-time, non-cash executive stock transfer which occurred in September 2019. These amounts remove the compensation expense and related tax impact from net income. See detail and reconciliation on slide 17 of this presentation.  18  (Dollars in thousands, except per share data)  Income Statement Data:                Total interest income  $ 13,507  $ 12,577  $ 51,709    $ 46,800  $ 42,870  $ 33,153  Total interest expense  2,075  2,224  9,516    7,168  4,739  3,303  Provision for loan losses  650  -  -    200  1,246  1,554  Total noninterest income  330  223  1,284    1,331  1,435  1,643  Total noninterest expense  4,353  3,755  28,432  16,636  14,967  14,531  13,121  Provision (benefit) for income taxes  1,708  1,705  6,844  6,836  797  -  -  Pre-tax Net income  6,759  6,821  15,045  26,842  25,796  23,789  16,817  Net income – C CorpBalance Sheet Data:  5,051  5,116  8,201  20,006  20,077  14,280  10,435  Cash and cash equivalents  $ 178,728  $ 190,426  $ 147,275    $ 159,849  $ 130,222  $ 103,665  Total loans  785,733  586,625  707,305    599,910  563,001  502,482  Allowance for loan losses  8,513  7,835  7,847    7,832  7,654  6,873  Total assets  974,350  787,236  866,392    770,511  703,594  613,771  Interest-bearing deposits  616,221  501,325  538,262    474,744  459,920  422,122  Noninterest-bearing deposits  254,735  185,351  219,221    201,159  165,911  127,434  Total deposits  870,956  686,676  757,483    675,903  625,831  549,556  Total shareholders’ equityShare and Per Share Data:  97,616  93,753  100,126    88,466  69,176  55,136  Earnings per share (basic) – Pre-tax Net Income  $ 0.68  $ 0.67  $ 1.48  $ 2.63  $ 3.18  $ 3.26  $ 2.31  Earnings per share (basic) – C Corp (1)  0.51  0.50  0.81  1.96  2.48  1.96  1.43  Earnings per share (diluted) – Pre-tax Net Income  0.68  0.67  1.48  2.63  3.13  3.26  2.31  Earnings per share (diluted) – C Corp (1)  0.51  0.50  0.81  1.96  2.44  1.96  1.43  Dividends per share  0.10  -  0.60    0.84  1.34  0.96  Book value per share  10.54  9.20  9.96    8.68  9.49  7.57  Tangible book value per share (2)  10.35  9.01  9.78    8.49  9.19  7.24  Weighted average common shares outstanding–basic  9,973,359  10,187,500  10,145,032  10,192,930  8,105,856  7,287,500  7,287,500  Weighted average common shares outstanding–dilute  9,973,819  10,187,500  10,147,311  10,195,209  8,238,753  7,287,500  7,287,500  Shares outstanding at end of period  9,264,412  10,187,500  10,057,506  10,206,931  10,187,500  7,287,500  7,287,500  As of or for the Three Months Ended March 31, For the Year Ended December 31, 2020 2019 2019 2019 2018 2017 2016 Pro Forma(3) 
 
   Bank7 Corp. Financials  Return on average assets and shareholders’ equity are tax-adjusted as if the Company were a C Corporation at the estimated tax rates for the respective periods.Efficiency ratio is calculated by dividing noninterest expense by the sum of net interest income on a tax equivalent basis and noninterest income.Represents a non-GAAP financial measure. See non-GAAP reconciliations table for reconciliation to its more comparable GAAP measure.Ratios are based on Bank level financial information rather than consolidated information. At March 31, 2020, Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk- based capital ratios were 10.86%, 12.30%, and 13.41% respectively for the Company.All pro forma amounts relate to the one-time, non-cash executive stock transfer which occurred in September 2019. These amounts remove the compensation expense and related tax impact from net income. See detail and reconciliation on slide 16 of this presentation.  19  Return on average:                Assets – Pre-tax  3.11%  3.67%  1.88%  3.36%  3.53%  3.62%  2.86%  Assets – C Corp (1)  2.32%  2.75%  1.03%  2.51%  2.75  2.17  1.78  Tangible common equity – C Corp (1)  20.32%  23.35%  8.58%  20.92%  26.40%  23.31%  21.73%  Shareholders’ equity – Pre-tax  26.73%  30.46%  15.44%  27.55%  33.01  37.43  33.29  Shareholders’ equity – C Corp (1)  19.97%  22.85%  8.42%  20.53%  25.69  22.47  20.65  Yield on earnings assets  6.27%  6.84%  6.55%    6.48  6.60  5.73  Yield on loans  7.05%  8.04%  7.58%    7.58  7.69  6.71  Yield on loans excluding fees  6.37%  7.15%  6.88%    6.71  6.14  5.76  Cost of funds  1.09%  1.37%  1.37%    1.11  0.80  0.62  Cost of int bearing deposits  1.52%  1.89%  1.89%    1.52  1.35  0.75  Cost of total deposits  1.09%  1.37%  1.37%    1.08  0.77  0.58  Net interest margin  5.31%  5.63%  5.35%    5.49  5.87  5.16  Net interest margin excluding loan fees  4.72%  4.93%  4.78%    4.78  4.59  4.37  Noninterest expense to average assets  2.00%  2.02%  3.56%  2.08%  2.05  2.21  2.23  Efficiency ratio (2)  37.00%  35.99%  65.39%  38.26%  37.04  37.24  42.31  Loans to deposits  90.22%  85.43%  93.38%    88.76  89.96  91.43  Liquidity Ratio  20.39%  27.50%  19.22%    23.44%  20.53%  18.57%  Credit Quality Ratios:                Nonperforming assets to total assets  0.34%  0.60%  0.38%    0.35%  0.28%  0.37%  Nonperforming assets to total loans and OREO  0.42  0.80  0.47    0.45  0.35  0.45  Nonperforming loans to total loans  0.42  0.78  0.47    0.43  0.34  0.43  Allowance for loan losses to nonperforming loans  256.72  171.11  235.47    299.50  404.55  319.53  Allowance for loan losses to total loans  1.08  1.34  1.11    1.31  1.36  1.37  Net charge-offs to average loans  (0.002)  (0.002)  (0.002)    0.00  0.09  0.07  Capital Ratios:                Total shareholders’ equity to total assets  10.02%  11.91%  11.56%    11.48%  9.83%  8.98%  Tangible equity to tangible assets (3)  9.86  11.69  11.37    11.25  9.55  8.62  Tier 1 leverage ratio (4)  10.97  12.18  11.65    11.26  10.53  9.67  Tier 1 risk-based capital ratio (4)  12.45  16.05  14.28    14.78  12.58  11.33  Total risk-based capital ratio (4)  13.56  17.30  15.42    16.03  13.83  12.58  (Dollars in thousands, except per share data)Performance Ratios:  As of or for the Three Months Ended March 31, For the Year Ended December 31, 2020 2019 2019 2019 2018 2017 2016 Pro Forma(5) 
 
   Non-GAAP Reconciliations  20    As of or for the Three Months Ended March 31, For the Year Ended December 31,                                                                                                                                           (Dollars in thousands, except per share data)   2020      2019      2019      2018      2017      2016   Tangible Shareholders' EquityTotal shareholders equity  $ 97,616    $ 93,753    $ 100,126    $ 88,466          Goodwill and other intangibles  (1,737)    (1,943)    (1,789)    (1,995)          Tangible Shareholders Equity  95,879    91,810    98,337    86,471          Tangible AssetsTotal assets  $ 974,350    $ 787,236    $ 866,392    $ 770,511          Less: Goodwill and other Intangibles  (1,737)    (1,943)    (1,789)    (1,995)          Tangible assets  972,613    785,293    864,603    768,516          Average Tangible Common EquityAverage shareholders equity  $ 101,718    $ 90,813    $ 97,431    $ 78,148          Less: Average goodwill and other Intangibles  (1,761)    (1,974)    (1,789)    (2,087)          Average Tangible Common Equity  99,957    88,839    95,642    76,061          End of period common shares outstanding  9,264,412    10,187,500    10,057,506    10,187,500          Book value per share  10.54    9.20    9.96    8.68          Tangible book value per share  10.35    9.01    9.78    8.49          Total shareholders' equity to total assets  10.02%    11.91%    11.56%    11.48%          Tangible shareholders' equity to tangible assets  9.86%    11.69%    11.37%    11.25%          Loan interest income (excluding loan fees):Total loan interest income, including fees  $ 13,106    $ 11,622    $ 48,200    $ 44,279          Loan fee income  (1,260)    (1,289)    (4,443)    (5,121)          Loan interest income excluding loan fees  11,846    10,333    43,757    39,158          Average Total Loans  $ 747,774    $ 586,408    $ 636,274    $ 583,821          Yield on loans  7.05%    8.04%    7.58%    7.58%          Yield on loans (excluding loan fee income)  6.37%    7.15%    6.88%    6.71%          Net interest margin (excluding loan fees):                        Net interest income  $ 11,432    $ 10,353    $ 42,193    $ 39,631          Loan fee income  (1,260)    (1,289)    (4,443)    (5,121)          Net interest income excluding loan fees  10,172    9,064    37,750    34,510          Average Earning Assets  $ 866,047    $ 745,739    $ 789,009    $ 721,935          Net interest margin  5.31%    5.63%    5.35%    5.49%          Net interest margin (excluding loan fee income)  4.72%    4.93%    4.78%    4.78%          $ 69,176  $ 55,136  (2,201)  (2,407)  66,975  52,729  $ 703,594  $ 613,771  (2,201)  (2,407)  701,393  611,364  $ 63,558  $ 50,523  (2,304)  (2,510)  61,254  48,013  7,287,500  7,287,500  9.49  7.57  9.19  7.24  9.83%  8.98%  9.55%  8.62%  $ 41,450  $ 32,254  (8,331)  (4,539)  33,119  27,715  $ 539,302  $ 481,028  7.69%  6.71%  6.14%  5.76%  $ 38,131  $ 29,849  (8,331)  (4,539)  29,800  25,310  $ 649,757  $ 578,832  5.87%  5.16%  4.59%  4.37% 
 
   Legal Information and Disclaimer  This presentation and oral statements made regarding the subject of this presentation contain forward-looking statements. 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 of COVID-19 on the United States economy and our operations, the direct and indirect effect of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators. 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. 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.Within this presentation, we reference certain market, industry and demographic data, forecasts and other statistical information. We have obtained this data, forecasts and information from various independent, third party industry sources and publications. Nothing in the data, forecasts or information used or derived from third party sources should be construed as advice. Some data and other information are also based on our good faith estimates, which are derived from our review of industry publications and surveys and independent sources. We believe that these sources and estimates are reliable, but have not independently verified them. Statements as to our market position are based on market data currently available to us. Although we are not aware of any misstatements regarding the economic, employment, industry and other market data presented herein, these estimates involve inherent risks and uncertainties and are based on assumptions that are subject to change.  This presentation includes certain non-GAAP financial measures, including pro forma net income, tax-adjusted net income, tax-adjusted earnings per share, tax-adjusted return on average assets and tax-adjusted return on average shareholders’ equity. These non-GAAP financial measures and any other non-GAAP financial measures that we discuss in this presentation should not be considered in isolation, and should be considered as additions to, and not substitutes for or superior to, measures of financial performance prepared in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of Bank7 Corp.’s non-GAAP financial measures as tools for comparison. See the table on Slide 15 of this presentation for a reconciliation of the non-GAAP financial measures used in (or conveyed orally during) this presentation to their most directly comparable GAAP financial measures.  21