Bank7 Corp. Announces Q1 2025 Earnings
OKLAHOMA CITY, April 10, 2025 /PRNewswire/ -- Bank7 Corp. (NASDAQ:BSVN) ("the Company"), the parent company of Oklahoma City-based Bank7 (the "Bank"), today reported unaudited results for the quarter ended March 31, 2025. "2025 is off to a strong start, as evidenced by outstanding earnings, liquidity, credit quality metrics, and a properly matched balance sheet. We are focused on potential disruptions related to economic policies and market volatility, yet we take comfort that we are located in such a dynamic and resilient part of the United States. We are prepared to navigate through the volatility and continue to rapidly build capital which is a true source of our strength and stability," said Thomas L. Travis, President and CEO of the Company.
For the three months ended March 31, 2025 compared to the three months ended March 31, 2024:
Net income of $10.3 million compared to $11.3 million, a decrease of 8.43%
Earnings per share of $1.08 compared to $1.21, a decrease of 10.74%
Total assets of $1.8 billion compared to $1.8 billion, an increase of 0.59%
Total loans of $1.4 billion compared to $1.4 billion, an increase of 3.63%
PPE of $13.7 million compared to $14.9 million, a decrease of 7.86%
Total interest income of $30.4 million compared to $33.3 million, a decrease of 8.56%
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 March 31, 2025, the Bank's Tier 1 leverage ratio, Tier 1 risk-based capital ratio, and total risk-based capital ratios were 12.39%, 14.03%, and 15.25%, respectively. On March 31, 2025, on a consolidated basis, the Company's Tier 1 leverage ratio, Tier 1 risk-based capital ratio, and total risk-based capital ratios were 12.39%, 14.02%, and 15.24%, respectively. Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by bank regulators.
Non-GAAP Financial Measures:This earnings release contains the non-GAAP financial measure pre-provision pre-tax earnings ("PPE"). The Company's management uses this non-GAAP measure in their analysis of the Company's performance. This measure adjusts GAAP performance to exclude from net income, income tax expense, provision for credit losses, and loss on sales and calls of available-for-sale debt securities.
For the Three Months Ended
March 31, 2025
March 31, 2024
Calculation of Pre-Provision Pre-Tax Earnings ("PPE")
(Dollars in thousands)
Net Income
$ 10,336
$ 11,288
Income Tax Expense
3,377
3,595
Pre-tax net income
13,713
14,883
Add back: Provision for credit losses
-
-
Add back: (Gain)Loss on sales/calls of AFS debt securities
-
-
Pre-provision pre-tax earnings
13,713
14,883
Bank7 Corp.
Consolidated Balance Sheets
Assets
March 31, 2025(unaudited)
December 31, 2024
Cash and due from banks
$ 240,570
$ 234,196
Interest-bearing time deposits in other banks
12,947
6,719
Available-for-sale debt securities
59,616
59,941
Loans, net of allowance for credit losses of $18,162 and
$17,918 at March 31, 2025 and December 31, 2024, respectively
1,405,649
1,379,465
Loans held for sale, at fair value
2,068
-
Premises and equipment, net
20,721
18,137
Nonmarketable equity securities
1,318
1,283
Core deposit intangibles
846
878
Goodwill
11,208
8,458
Interest receivable and other assets
30,531
30,731
Total assets
$ 1,785,474
$ 1,739,808
Liabilities and Shareholders' Equity
Deposits
Noninterest-bearing
$ 327,522
$ 313,258
Interest-bearing
1,223,768
1,202,213
Total deposits
1,551,290
1,515,471
Income taxes payable
3,565
77
Interest payable and other liabilities
8,959
11,047
Total liabilities
1,563,814
1,526,595
Shareholders' equity
Common stock, $0.01 par value; 50,000,000 shares authorized; shares
issued and outstanding: 9,448,237 and 9,390,211 at March 31, 2025
and December 31, 2024, respectively
94
94
Additional paid-in capital
101,546
101,809
Retained earnings
124,349
116,281
Accumulated other comprehensive loss
(4,329)
(4,971)
https://www.benzinga.com/pressreleases/25/04/n44731989/bank7-corp-announces-q1-2025-earnings
