BSVN 8-K
Bank7 Corp. (BSVN)
8-K
2022-07-27
For: 2022-07-27
View Original
Added on
April 09, 2026
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)
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading
Symbol(s)
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Name of each exchange on which registered
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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 |
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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
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| Item 7.01 |
Regulation FD Disclosure
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On July 27, 2022, Bank7 Corp. (the “Company”), the holding company for Bank7, issued a press release announcing its results of operation and financial condition for the
quarter ended June 30, 2022. 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 July 27, 2022 at 10:00 am CST to discuss its second quarter 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
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(d)
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Exhibits.
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The following exhibits are filed herewith:
| Item | Description | ||
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Press Release dated July 27, 2022
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|||
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Second Quarter 2022 Investor Presentation
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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.
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BANK7 CORP.
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Date: July 27, 2022
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By: |
/s/ Kelly J. Harris |
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Kelly J. Harris
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Executive Vice President and Chief Financial Officer
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Exhibit 99.1
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FOR IMMEDIATE RELEASE: Bank7 Corp. Announces Q2 2022 Earnings
Oklahoma City, July 27, 2022 – 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 June 30, 2022. “We are pleased to announce a strong quarter, as evidenced by record net income and earnings per share. Our dynamic geographic markets, strong loan growth and asset sensitive balance sheet, combined with
our talented bankers, continues to produce outstanding results. As we move forward, we intend to continue producing exceptional results through organic growth and strategic acquisitions,” said Thomas L. Travis, President and CEO of the Company.
Three months ended June 30, 2022 compared to three months ended March 31, 2022
| - |
Net income of $7.0 million compared to $6.2 million, an increase of 13.5%
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| - |
Diluted Earnings per share of $0.76 compared to $0.67, an increase of 13.4%
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| - |
Total assets of $1.5 billion compared to $1.4 billion, an increase of 4.7%
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| - |
Total loans of $1.2 billion compared to $1.1 billion, an increase of 8.5%
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| - |
PPE of $9.5 million compared to $8.6 million, an increase of 12.3%
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| - |
Total interest income of $16.7 million compared to $14.9 million, an increase of 11.7%
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Both the Bank’s and the Company’s capital levels continue to be significantly above the minimum levels required to be designated as “well-capitalized” for regulatory
purposes. On June 30, 2022, the Bank’s Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 8.97%, 11.21%, and 12.14%, respectively. On June 30, 2022, on a consolidated basis, the Company’s Tier 1
leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 8.97%, 11.20%, and 12.14%, respectively. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by
bank regulators.
Bank7 Corp.
Consolidated Balance Sheets
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Assets
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June 30, 2022
(unaudited) |
December 31, 2021
|
||||||
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Cash and due from banks
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$
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123,686
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$
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195,359
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||||
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Federal funds sold
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-
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9,493
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||||||
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Cash and cash equivalents
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123,686
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204,852
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||||||
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Interest-bearing time deposits in other banks
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1,992
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3,237
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||||||
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Available-for-sale debt securities
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185,048
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84,808
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||||||
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Loans, net of allowance for loan losses of $10,819 and $10,316 at June 30, 2022 and December 31, 2021, respectively
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1,141,497
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1,018,085
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||||||
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Loans held for sale, at fair value
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635
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464
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Premises and equipment, net
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13,581
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17,257
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Nonmarketable equity securities
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1,192
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1,202
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Core deposit intangibles
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1,489
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1,643
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Goodwill
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8,717
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8,479
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Interest receivable and other assets
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9,983
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10,522
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Total assets
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$
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1,487,820
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$
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1,350,549
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||||
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Liabilities and Shareholders’ Equity
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||||||||
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Deposits
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||||||||
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Noninterest-bearing
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$
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442,150
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$
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366,705
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||||
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Interest-bearing
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903,627
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850,766
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||||||
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Total deposits
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1,345,777
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1,217,471
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||||||
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Income taxes payable
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2,865
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-
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||||||
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Interest payable and other liabilities
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7,687
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5,670
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||||||
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Total liabilities
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1,356,329
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1,223,141
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||||||
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Shareholders’ equity
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||||||||
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Common stock, $0.01 par value; 50,000,000 shares authorized; shares issued and outstanding: 9,098,655 and 9,071,417 at
June 30, 2022 and December 31, 2021 respectively
|
91
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91
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||||||
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Additional paid-in capital
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95,016
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94,024
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Retained earnings
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44,167
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33,149
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||||||
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Accumulated other comprehensive income (loss)
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(7,783
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)
|
144
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|||||
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Total shareholders’ equity
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131,491
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127,408
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||||||
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||||||||
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Total liabilities and shareholders’ equity
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$
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1,487,820
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$
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1,350,549
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||||
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Three months ended
June 30, |
Six months ended
June 30, |
|||||||||||||||
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2022
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2021
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2022
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2021
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|||||||||||||
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Interest Income
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||||||||||||||||
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Loans, including fees
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$
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15,754
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$
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14,357
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$
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30,131
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$
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27,450
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Interest-bearing time deposits in other banks
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13
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38
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29
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106
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||||||||||||
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Debt securities, taxable
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571
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-
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935
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-
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||||||||||||
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Debt securities, tax-exempt
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85
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-
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183
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-
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||||||||||||
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Other interest and dividend income
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249
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42
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319
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68
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||||||||||||
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Total interest income
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16,672
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14,437
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31,597
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27,624
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||||||||||||
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Interest Expense
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||||||||||||||||
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Deposits
|
878
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772
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1,595
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1,647
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||||||||||||
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||||||||||||||||
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Total interest expense
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878
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772
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1,595
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1,647
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||||||||||||
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Net Interest Income
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15,794
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13,665
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30,002
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25,977
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||||||||||||
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Provision for Loan Losses
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219
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1,300
|
495
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2,575
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||||||||||||
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Net Interest Income After Provision for Loan Losses
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15,575
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12,365
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29,507
|
23,402
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||||||||||||
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Noninterest Income
|
||||||||||||||||
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Secondary market income
|
95
|
78
|
261
|
92
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||||||||||||
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Gain (Loss) on sales of available-for-sale debt securities (includes accumulated other comprehensive loss reclassification
of $10,000 and ($117,000) for the three months ended June 30, 2022 and 2021, respectively; $10,000 and $0 for the six months ended June 30, 2022 and 2021, respectively)
|
10
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-
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(117
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)
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-
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|||||||||||
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Service charges on deposit accounts
|
219
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119
|
468
|
239
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||||||||||||
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Other
|
361
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382
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748
|
585
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||||||||||||
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|
||||||||||||||||
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Total noninterest income
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685
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579
|
1,360
|
916
|
||||||||||||
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Noninterest Expense
|
||||||||||||||||
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Salaries and employee benefits
|
4,126
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2,949
|
8,152
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5,739
|
||||||||||||
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Furniture and equipment
|
386
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231
|
744
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433
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||||||||||||
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Occupancy
|
571
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458
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1,122
|
930
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||||||||||||
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Data and item processing
|
559
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286
|
946
|
565
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||||||||||||
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Accounting, marketing and legal fees
|
209
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149
|
442
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297
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||||||||||||
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Regulatory assessments
|
226
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161
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422
|
302
|
||||||||||||
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Advertsing and public relations
|
121
|
71
|
231
|
105
|
||||||||||||
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Travel, lodging and entertainment
|
74
|
118
|
122
|
207
|
||||||||||||
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Other
|
691
|
452
|
1,202
|
841
|
||||||||||||
|
Total noninterest expense
|
6,963
|
4,875
|
13,383
|
9,419
|
||||||||||||
|
Income Before Taxes
|
9,297
|
8,069
|
17,484
|
14,899
|
||||||||||||
|
Income tax expense
|
2,280
|
1,964
|
4,283
|
3,690
|
||||||||||||
|
Net Income
|
$
|
7,017
|
$
|
6,105
|
$
|
13,201
|
$
|
11,209
|
||||||||
|
Earnings per common share - basic
|
$
|
0.77
|
$
|
0.67
|
$
|
1.45
|
$
|
1.24
|
||||||||
|
Earnings per common share - diluted
|
0.76
|
0.67
|
1.44
|
1.24
|
||||||||||||
|
Weighted average common shares outstanding - basic
|
9,097,280
|
9,050,606
|
9,093,150
|
9,050,295
|
||||||||||||
|
Weighted average common shares outstanding - diluted
|
9,194,923
|
9,074,408
|
9,187,637
|
9,066,797
|
||||||||||||
|
|
||||||||||||||||
|
Other Comprehensive Income (Loss)
|
||||||||||||||||
|
Unrealized losses on securities, net of tax benefit of $1.5 million
|
$
|
(3,788
|
)
|
$
|
-
|
$
|
(7,783
|
)
|
$
|
-
|
||||||
|
Reclassification adjustment for realized gain(loss) included in net income, net of tax of $17,000
|
10
|
-
|
(134
|
)
|
-
|
|||||||||||
|
Other comprehensive loss, net of tax benefit of $1.5 million
|
$
|
(3,778
|
)
|
$
|
-
|
$
|
(7,917
|
)
|
$
|
-
|
||||||
|
Comprehensive Income (Loss)
|
$
|
3,239
|
$
|
6,105
|
$
|
5,284
|
$
|
11,209
|
||||||||
|
Net Interest Margin
|
||||||||||||||||||||||||
|
For the Six Months Ended June 30,
|
||||||||||||||||||||||||
|
2022
|
2021
|
|||||||||||||||||||||||
|
Average
Balance |
Interest
Income/ Expense |
Average
Yield/ Rate |
Average
Balance |
Interest
Income/ Expense |
Average
Yield/ Rate |
|||||||||||||||||||
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(Dollars in thousands)
|
||||||||||||||||||||||||
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Interest-Earning Assets:
|
||||||||||||||||||||||||
|
Short-term investments
|
$
|
159,157
|
$
|
330
|
0.42
|
%
|
$
|
127,203
|
$
|
157
|
0.25
|
%
|
||||||||||||
|
Investment securities, taxable
|
132,298
|
948
|
1.45
|
1,180
|
17
|
2.91
|
||||||||||||||||||
|
Debt securities, tax exempt
|
22,275
|
188
|
1.70
|
-
|
-
|
-
|
||||||||||||||||||
|
Loans held for sale
|
383
|
-
|
-
|
445
|
-
|
-
|
||||||||||||||||||
|
Total loans(1)
|
1,047,220
|
30,131
|
5.80
|
868,526
|
27,450
|
6.37
|
||||||||||||||||||
|
Total interest-earning assets
|
1,361,333
|
31,597
|
4.68
|
997,354
|
27,624
|
5.59
|
||||||||||||||||||
|
Noninterest-earning assets
|
24,506
|
6,090
|
||||||||||||||||||||||
|
Total assets
|
$
|
1,385,839
|
$
|
1,003,444
|
||||||||||||||||||||
|
Funding sources:
|
||||||||||||||||||||||||
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Interest-bearing liabilities:
|
||||||||||||||||||||||||
|
Deposits:
|
||||||||||||||||||||||||
|
Transaction accounts
|
$
|
667,159
|
1,012
|
0.31
|
%
|
$
|
412,070
|
691
|
0.34
|
%
|
||||||||||||||
|
Time deposits
|
176,587
|
583
|
0.67
|
208,903
|
956
|
0.92
|
||||||||||||||||||
|
Total interest-bearing deposits
|
843,746
|
1,595
|
0.38
|
620,973
|
1,647
|
0.53
|
||||||||||||||||||
|
Total interest-bearing liabilities
|
843,746
|
1,595
|
0.38
|
620,973
|
1,647
|
0.53
|
||||||||||||||||||
|
Noninterest-bearing liabilities:
|
||||||||||||||||||||||||
|
Noninterest-bearing deposits
|
405,674
|
266,237
|
||||||||||||||||||||||
|
Other noninterest-bearing liabilities
|
6,615
|
5,126
|
||||||||||||||||||||||
|
Total noninterest-bearing liabilities
|
412,289
|
271,363
|
||||||||||||||||||||||
|
Shareholders' equity
|
129,804
|
111,108
|
||||||||||||||||||||||
|
Total liabilities and shareholders' equity
|
$
|
1,385,839
|
$
|
1,003,444
|
||||||||||||||||||||
|
Net interest income
|
$
|
30,002
|
$
|
25,977
|
||||||||||||||||||||
|
Net interest spread
|
4.30
|
%
|
5.05
|
%
|
||||||||||||||||||||
|
Net interest margin
|
4.44
|
%
|
5.25
|
%
|
||||||||||||||||||||
|
(1)
|
Nonaccrual loans are included in total loans
|
|
For the Three Months Ended June 30,
|
||||||||||||||||||||||||
|
2022
|
2021
|
|||||||||||||||||||||||
|
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
|
$
|
130,961
|
$
|
249
|
0.76
|
%
|
$
|
128,643
|
$
|
64
|
0.20
|
%
|
||||||||||||
|
Debt securities, taxable-equivalent
|
174,583
|
584
|
1.34
|
1,187
|
16
|
5.41
|
||||||||||||||||||
|
Debt securities, tax exempt
|
22,244
|
85
|
1.53
|
-
|
-
|
-
|
||||||||||||||||||
|
Loans held for sale
|
279
|
-
|
-
|
557
|
-
|
-
|
||||||||||||||||||
|
Total loans(1)
|
1,090,053
|
15,754
|
5.80
|
889,278
|
14,357
|
6.48
|
||||||||||||||||||
|
Total interest-earning assets
|
1,418,120
|
16,672
|
4.72
|
1,019,665
|
14,437
|
5.68
|
||||||||||||||||||
|
Noninterest-earning assets
|
25,341
|
5,086
|
||||||||||||||||||||||
|
Total assets
|
$
|
1,443,461
|
$
|
1,024,751
|
||||||||||||||||||||
|
Funding sources:
|
||||||||||||||||||||||||
|
Interest-bearing liabilities:
|
||||||||||||||||||||||||
|
Deposits:
|
||||||||||||||||||||||||
|
Transaction accounts
|
$
|
693,619
|
555
|
0.32
|
%
|
$
|
399,293
|
329
|
0.33
|
%
|
||||||||||||||
|
Time deposits
|
183,494
|
323
|
0.71
|
212,212
|
443
|
0.84
|
||||||||||||||||||
|
Total interest-bearing deposits
|
877,113
|
878
|
0.40
|
611,505
|
772
|
0.51
|
||||||||||||||||||
|
Total interest-bearing liabilities
|
$
|
877,113
|
878
|
0.40
|
$
|
611,505
|
772
|
0.51
|
||||||||||||||||
|
Noninterest-bearing liabilities:
|
||||||||||||||||||||||||
|
Noninterest-bearing deposits
|
$
|
429,388
|
$
|
293,867
|
||||||||||||||||||||
|
Other noninterest-bearing liabilities
|
6,925
|
6,047
|
||||||||||||||||||||||
|
Total noninterest-bearing liabilities
|
436,313
|
299,914
|
||||||||||||||||||||||
|
Shareholders' equity
|
130,035
|
113,332
|
||||||||||||||||||||||
|
Total liabilities and shareholders' equity
|
$
|
1,443,461
|
$
|
1,024,751
|
||||||||||||||||||||
|
Net interest income
|
$
|
15,794
|
$
|
13,665
|
||||||||||||||||||||
|
Net interest spread
|
4.31
|
%
|
5.17
|
%
|
||||||||||||||||||||
|
Net interest margin
|
4.47
|
%
|
5.38
|
%
|
||||||||||||||||||||
|
(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 first quarter results, which will be broadcast live over the Internet, on Wednesday, July 27, 2022 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/lO0ZkVNkM4w. For those not able to participate in the live call, an archive of the webcast will be available at https://app.webinar.net/lO0ZkVNkM4w
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.
Contact:
Thomas Travis
President & CEO
(405) 810-8600
Exhibit 99.2
BSVN Q2 2022 EARNINGS RELEASE July 27, 2022
1 BSVN – Corporate Overview All data as of June 30, 2022, unless indicated otherwise. (1) Core loans
is a non-GAAP financial measure and is defined as total loans less PPP loans of $9.9 and $14.2 million for June 30 and March 31, 2022 respectively Positioned in dynamic markets, with a commercial banking emphasis that delivers services via a
branch-lite model Experienced and talented bankers focused on high-touch personalized service Disciplined credit culture that adheres to a robust risk management framework resulting in excellent credit quality and a history of low loan
losses Shareholder alignment due to 59% insider ownership Continued focus on organic growth in our geographic footprint, while pursuing strategic acquisitions Consistently ranked by S & P Global Market Intelligence as one of the Top
Performing Community Banks in the United States
2 Q2 Overview All data as of June 30,2022, unless indicated otherwise. Core loans is a non-GAAP
financial measure and is defined as total loans less PPP loans of $9.9 million Record Loan Growth Increased core loans by a record $94.78 million or 9.05% – our bankers continue to perform at a high level, and we benefit from being located in
a dynamic part of the country Margin Improvement Net interest margin increased by 13 bps – attributable to our record loan growth and asset sensitive balance sheet Successful Acquisition Integration Record Net Income, EPS and
PPE Successfully completed the system conversion of Cornerstone Bank Continued success blending Cornerstone Bank into Bank7, both operationally and culturally The acquired deposit base has grown since closing Record net income of $7
million, an $833,000 increase or 13.47% on a linked quarter basis Record EPS of $0.76, a $0.09 increase or 13.43% on a linked quarter basis Record PPE of $9.5 million, a $1.05 million increase or 12.32% on a linked quarter basis
Dollars 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 and June 30, 2022. Pro Forma 2019 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 2019 Pro Forma Net Income reconciliation table for detailed calculation of this measure. Pro Forma noninterest expense to average assets in a non-GAAP financial measure. See appendix for
reconciliation to their most comparable GAAP measure. 12.3% increase QoQ Robust and Consistent Growth PPE(1) Total Assets 3 $26.8 Pro Forma Record PPE of $9.5 million, an increase of 12.32% on a linked quarter basis - Our high level of
PPE is achieved in part due to our strategy of running lean, and having excellent team members who excel at providing services and solutions utilizing our technology and processes Maximizing Our Employee Base(1) 3.56% Actual Pro
Forma CAGR Since 2016: 17.5%
2.51% Pro Forma Pro Forma Reliable Top Performer Return on Average Assets (1)(2) Return on Average
Tangible Common Equity (1) (2) Dollars 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 and June 30, 2022 Profitability metrics are
tax-adjusted as if the Company were a C Corporation at the estimated tax rates for the respective periods. Pro Forma YTD ROAA, ROATCE and efficiency ratio are non-GAAP financial measures, see Appendix for reconciliation to the most comparable
GAAP measures for these metrics. Efficiency Ratio (2) ROATCE was 23.51% for Q2, a 12.65% increase compared to Q1 As expected, our Q4 2021 acquisition of Cornerstone Bank caused a temporary decline in our ROAA and a slight increase in our
efficiency ratio. Both metrics improved during Q2 and we anticipate a return to our historical ranges as we move forward 4 38.3% 20.9% Pro Forma 5 - year average: 21.9% 5 - year average: 2.33%
5 Exceptional Earnings Capital Growth Tangible Book Value Per Share Dollars are in thousands, except
for per share data (Pro Forma 2019 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 2019 Pro Forma Net
Income reconciliation table for detailed calculation of this measure. CAGR since 2018 = 13.7% Diluted Earnings Per Share (1) Pro Forma 13.4% increase TBV increased despite two factors: -Spent $0.85 per share for our all-cash acquisition
in Q4 2021 -$0.86 per share impact due to the AOCI unrealized loss from investments $ 0.81 Record EPS of $0.76, a 13.43% on a linked quarter basis increase - further illustrating the strength of our earnings
Well Positioned for a Rising Rate Environment Loan Portfolio Repricing Reinforces Benefit of Asset
Sensitivity Dollars are in millions. Financial data is as of or for the six months ended June 30, 2022 Fixed rate loans are defined as loans that reprice in more than 1 year 6 (1) ($778.9m are daily floaters)
Net Interest Margin Financial data is as of or for the six months ended June 30, 2022 and as of or for
the twelve months ended of each respective year. Net interest margin (excluding loan fee income) is a non-GAAP financial measure, see Appendix for reconciliation to the most comparable GAAP measure for this metric. Net Interest Margin Due to
our asset sensitive balance sheet and strong loan growth, net interest margin improved on a linked quarter basis 7
Loan Portfolio Distribution Dollars are in millions. Data as of June 30, 2022. Gross Loan Portfolio
Composition by Purpose Type 8
9 Allowance for Loan Losses to Total Loans Asset Quality (1) “Total Loans” excludes $44.9 million,
$18.7 million and $9.9 million in PPP loans for YE 2020 , 2021 and Q2 2022, respectively. With PPP loans included, ratio is 1.15%, 1.00% and 0.94%, respectively. Energy Portfolio as a % of Total Loans (1) Nonperforming Assets to Total
Loans Continued improvement in NPA levels after peaking in Q3 2020. Currently at 0.83% and concentrated 71% in a single credit Although our overall energy exposure has declined, the recent increase is due to us staying active in the energy
space. We currently have a high quality and robust deal pipeline, carrying favorable pricing and lending terms We continue to benefit from the growth of our diverse, broad, and deep loan portfolio ALLL level remains acceptable as NPA levels
have quickly reduced after peaking in 2020 5 - year average: 15.0% (1)
Hospitality Loan Portfolio Detail 10 Dollars are in millions except per room data. Data as of June 30,
2022. (1) Eight properties under construction are excluded from operating property count Hotel Portfolio Exposure by Class Portfolio Metrics – 35 Operating Properties Blue collar portfolio that is well-protected by the “cycle-down” effect
of a recession Geographically concentrated in TX (84%) and other markets with favorable economic conditions Loans personally guaranteed by experienced owner/operators with operating history spanning decades of economic cycles Diversified
lending to many reputable brands Consistent underwriting fundamentals with disciplined equity requirements, debt coverage ratio requirements, personal recourse, and rapid amortization (1)
11 Earnings-driven cushion far exceeds regulatory capital minimums as illustrated over a two-year
period, consistent with DFAST parameters(1) Dollars are in thousands The above assumes no cash dividends and is simply an illustration and should not be considered a projection or forward-looking guidance of any kind. DFAST = Dodd-Frank Act
Stress Test. 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 PPE of $35.6 million extrapolated over two years. Earnings-driven Capital Shock-absorption
Deposit Composition Historical Deposit Growth Deposit Composition as of June 30, 2022 Total deposits
of $1.4 billion, a $62.4 million increase or 4.9% on a linked quarter basis Dollars are in millions. Financial data is as of or for the six months ended June 30, 2021 and 2022 and as of or for the twelve months ended of each respective
year. (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. Core Deposits(1) 12 CAGR since 2017 =
18.6%
Appendix
14 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 rate for the three months ended June 30, and March 31, 2022 of 24.5%. Represents a non-GAAP
financial measure. See non-GAAP reconciliations table for reconciliation to most comparable GAAP measure for this metric. All pro forma amounts relate to the one-time, non-cash executive stock transfer which occurred in September 2019. These
amounts remove the compensation and related tax impact from net income. See detail and reconciliation on slide 18 of this presentation.
15 Bank7 Corp. Performance Ratios 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 the most comparable GAAP measure for this metric. Ratios are based on Bank level financial information rather than consolidated information.
At June 30, 2022, Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 8.97%, 11.21%, and 12.14% 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 18 of this presentation.
16 Non-GAAP Reconciliations
Investment Portfolio Available-for-Sale Securities Portfolio Dollars are in millions. All of our
mortgage-backed securities and collateralized mortgage obligations are issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored entities. Total investment securities of $185 million as of June 30, 2022 17 Weighted
Average Duration : 3.4 Years Book Yield: 1.72% (1)
18 2019 Pro Forma Net Income Reconciliation 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.
19 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 in the appendix 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.