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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)
 
July 20, 2023
 

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 July 20, 2023, 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, 2023.  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 20, 2023 at 9:00 am CST to discuss its second quarter 2023 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 July 20, 2023


Second Quarter 2023 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: July 20, 2023
By:
/s/   Kelly J. Harris
   
Kelly J. Harris
   
Executive Vice President and Chief Financial Officer
     



EX-99.1 2 brhc20056101_ex99-1.htm EXHIBIT 99.1
Exhibit 99.1


FOR IMMEDIATE RELEASE: Bank7 Corp. Announces Q2 2023 Earnings

Oklahoma City, July 20, 2023 – Bank7 Corp. (NASDAQ: BSVN) ("the Company"), the parent company of Oklahoma City-based Bank7 (the "Bank"), today reported unaudited results for the quarter ended June 30, 2023.  “In these uncertain times, it is comforting to report that our long-term and broad based deposit relationships remain as loyal customers while our debt-free and liquid balance sheet continues to be a source of strength and stability.  These strengths and our disciplined approach to risk management and cost control once-again propelled us to both record profits and EPS.  We achieved these milestones in spite of NIM pressure, which was partially due to our decision to carry more liquidity. We continue to benefit from strong asset quality and remain committed to our established fundamentals as we move through the rest of the year,” said Thomas L. Travis, President and CEO of the Company. 

For the three months ended June 30, 2023 compared to the three months ended June 30, 2022:


-
Net income of $9.7 million compared to $7.0 million, an increase of 38.75%

-
Earnings per share of $1.05 compared to $0.76, an increase of 38.16%

-
Total assets of $1.7 billion compared to $1.5 billion, an increase of 13.03%

-
Total loans of $1.3 billion compared to $1.2 billion, an increase of 10.37%

-
PPE of $13.9 million compared to $9.5 million, an increase of 46.35%

-
Total interest income of $30.0 million compared to $16.7 million, an increase of 80.19%

Three months ended June 30, 2023 compared to three months ended March 31, 2023


-
Net income of $9.7 million compared to $9.6 million, an increase of 1.45%

-
Earnings per share of $1.05 compared to $1.04, an increase of 0.96%

-
PPE of $13.9 million compared to $13.0 million, an increase of 6.85%

-
Total interest income of $30.0 million compared to $27.4 million, an increase of 9.72%

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, 2023, the Bank’s Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 9.71%, 11.89%, and 13.10%, respectively.  On June 30, 2023, on a consolidated basis, the Company’s Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 9.71%, 11.88%, and 13.09%, respectively.  Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by bank regulators.




Bank7 Corp.
Consolidated Balance Sheets

Assets
 
June 30, 2023
(unaudited)
   
December 31,
2022
 
 
           
Cash and due from banks
 
$
196,456
   
$
109,115
 
Interest-bearing time deposits in other banks
   
10,455
     
5,474
 
Available-for-sale debt securities
   
169,923
     
173,165
 
Loans, net of allowance for credit losses of $16,377 and $14,734 at June 30, 2023 and December 31, 2022, respectively
   
1,259,905
     
1,255,722
 
Loans held for sale, at fair value
   
408
     
-
 
Premises and equipment, net
   
14,833
     
13,106
 
Nonmarketable equity securities
   
1,238
     
1,209
 
Core deposit intangibles
   
1,184
     
1,336
 
Goodwill
   
8,458
     
8,603
 
Interest receivable and other assets
   
18,445
     
16,439
 
 
               
Total assets
 
$
1,681,305
   
$
1,584,169
 
 
               
Liabilities and Shareholders’ Equity
               
 
               
Deposits
               
Noninterest-bearing
 
$
397,588
   
$
439,409
 
Interest-bearing
   
1,110,637
     
989,891
 
 
               
Total deposits
   
1,508,225
     
1,429,300
 
 
               
Income taxes payable
   
363
     
1,054
 
Interest payable and other liabilities
   
10,937
     
9,715
 
 
               
Total liabilities
   
1,519,525
     
1,440,069
 
 
               
Shareholders’ equity
               
Common stock, $0.01 par value; 50,000,000 shares authorized; shares issued and outstanding: 9,154,934 and 9,131,973 at
   
92
     
91
 
June 30, 2023 and December 31, 2022 respectively
               
 
               
Additional paid-in capital
   
96,498
     
95,263
 
Retained earnings
   
73,901
     
58,049
 
Accumulated other comprehensive income (loss)
   
(8,711
)
   
(9,303
)
 
               
Total shareholders’ equity
   
161,780
     
144,100
 
 
               
Total liabilities and shareholders’ equity
 
$
1,681,305
   
$
1,584,169
 




 
 
Unaudited as of
 
 
 
Three Months Ended
June 30,
   
Six Months Ended
June 30,
 
 
 
2023
   
2022
   
2023
   
2022
 
Interest Income
                       
Loans, including fees
 
$
26,885
   
$
15,754
   
$
52,237
   
$
30,131
 
Interest-bearing time deposits in other banks
   
62
     
13
     
111
     
29
 
Debt securities, taxable
   
701
     
571
     
1,407
     
935
 
Debt securities, tax-exempt
   
85
     
85
     
172
     
183
 
Other interest and dividend income
   
2,309
     
249
     
3,495
     
319
 
 
                               
Total interest income
   
30,042
     
16,672
     
57,422
     
31,597
 
 
                               
Interest Expense
                               
Deposits
   
9,544
     
878
     
16,918
     
1,595
 
 
                               
Total interest expense
   
9,544
     
878
     
16,918
     
1,595
 
 
                               
Net Interest Income
   
20,498
     
15,794
     
40,504
     
30,002
 
 
                               
Provision for Credit Losses
   
1,011
     
219
     
1,485
     
495
 
 
                               
Net Interest Income After Provision for Credit Losses
   
19,487
     
15,575
     
39,019
     
29,507
 
 
                               
Noninterest Income
                               
Secondary market income
   
112
     
95
     
166
     
261
 
Gain (Loss) on sales, prepayments, and calls of available-for-sale debt securities
   
(7
)
   
10
     
(8
)
   
(117
)
Service charges on deposit accounts
   
199
     
219
     
434
     
468
 
Other
   
490
     
368
     
874
     
755
 
 
                               
Total noninterest income
   
794
     
692
     
1,466
     
1,367
 
 
                               
Noninterest Expense
                               
Salaries and employee benefits
   
4,709
     
4,126
     
9,389
     
8,152
 
Furniture and equipment
   
251
     
386
     
500
     
744
 
Occupancy
   
599
     
571
     
1,318
     
1,122
 
Data and item processing
   
469
     
559
     
856
     
946
 
Accounting, marketing and legal fees
   
179
     
209
     
478
     
442
 
Regulatory assessments
   
339
     
226
     
734
     
422
 
Advertsing and public relations
   
52
     
121
     
200
     
231
 
Travel, lodging and entertainment
   
110
     
74
     
171
     
122
 
Other
   
669
     
691
     
1,381
     
1,202
 
 
                               
Total noninterest expense
   
7,377
     
6,963
     
15,027
     
13,383
 
 
                               
Income Before Taxes
   
12,904
     
9,304
     
25,458
     
17,491
 
Income tax expense
   
3,158
     
2,280
     
6,105
     
4,283
 
Net Income
 
$
9,746
   
$
7,024
   
$
19,353
   
$
13,208
 
 
                               
Earnings per common share - basic
 
$
1.06
   
$
0.77
   
$
2.12
   
$
1.45
 
Earnings per common share - diluted
   
1.05
     
0.76
     
2.09
     
1.44
 
Weighted average common shares outstanding - basic
   
9,153,077
     
9,097,280
     
9,150,022
     
9,093,150
 
Weighted average common shares outstanding - diluted
   
9,247,101
     
9,194,923
     
9,256,450
     
9,187,637
 
 
                               
Other Comprehensive Income (Loss)
                               
Unrealized gains(losses) on securities, net of tax benefit of $0 and $1.5 million for the three months ended June 30, 2023 and 2022, respectively; $0 and $0 for the six months ended June 30, 2023 and 2022, respectively
 
$
(1,169
)
 
$
(3,778
)
 
$
586
   
$
(8,017
)
Reclassification adjustment for realized (gain)loss included in net income net of tax of $2 and $0 for the three months ended June 30, 2023 and 2022, respectively; $2 and $17 for the six months ended June 30, 2023 and 2022, respectively
   
5
     
(10
)
   
6
     
90
 
Other comprehensive income(loss)
 
$
(1,164
)
 
$
(3,788
)
 
$
592
   
$
(7,927
)
Comprehensive Income
 
$
8,582
   
$
3,236
   
$
19,945
   
$
5,281
 




 
 
Net Interest Margin
 
 
 
For the Six Months Ended June 30,
 
 
 
2023
(unaudited)
   
2022
 
 
 
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
 
$
154,896
   
$
3,606
     
4.69
%
 
$
159,157
   
$
348
     
0.44
%
Investment securities, taxable
   
153,478
     
1,407
     
1.85
     
132,086
     
935
     
1.43
 
Debt securities, tax exempt
   
20,030
     
172
     
1.73
     
22,487
     
183
     
1.64
 
Loans held for sale
   
56
     
-
     
-
     
383
     
-
     
-
 
Total loans(1)
   
1,277,245
     
52,237
     
8.25
     
1,047,220
     
30,131
     
5.80
 
Total interest-earning assets
   
1,605,705
     
57,422
     
7.21
     
1,361,333
     
31,597
     
4.68
 
Noninterest-earning assets
   
24,299
                     
24,506
                 
Total assets
 
$
1,630,004
                   
$
1,385,839
                 
 
                                               
Funding sources:
                                               
Interest-bearing liabilities:
                                               
Deposits:
                                               
Transaction accounts
 
$
810,736
     
12,612
     
3.14
%
 
$
667,159
     
1,012
     
0.31
%
Time deposits
   
239,720
     
4,306
     
3.62
     
176,587
     
583
     
0.67
 
Total interest-bearing deposits
   
1,050,456
     
16,918
     
3.25
     
843,746
     
1,595
     
0.38
 
Total interest-bearing liabilities
   
1,050,456
     
16,918
     
3.25
     
843,746
     
1,595
     
0.38
 
 
                                               
Noninterest-bearing liabilities:
                                               
Noninterest-bearing deposits
   
414,383
                     
405,674
                 
Other noninterest-bearing liabilities
   
11,659
                     
6,615
                 
Total noninterest-bearing liabilities
   
426,042
                     
412,289
                 
Shareholders' equity
   
153,506
                     
129,804
                 
Total liabilities and shareholders' equity
 
$
1,630,004
                   
$
1,385,839
                 
 
                                               
Net interest income
         
$
40,504
                   
$
30,002
         
Net interest spread
                   
3.96
%
                   
4.30
%
Net interest margin
                   
5.09
%
                   
4.44
%

(1)
Nonaccrual loans are included in total loans




 
 
For the Three Months Ended June 30,
 
 
 
2023
(unaudited)
   
2022
 
 
 
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
 
$
174,920
   
$
2,371
     
5.44
%
 
$
130,961
   
$
262
     
0.81
%
Debt securities, taxable-equivalent
   
153,424
     
701
     
1.83
     
174,583
     
571
     
1.31
 
Debt securities, tax exempt
   
19,744
     
85
     
1.73
     
22,244
     
85
     
1.53
 
Loans held for sale
   
68
     
-
     
-
     
279
     
-
     
-
 
Total loans(1)
   
1,283,341
     
26,885
     
8.40
     
1,090,053
     
15,754
     
5.80
 
Total interest-earning assets
   
1,631,497
     
30,042
     
7.39
     
1,418,120
     
16,672
     
4.72
 
Noninterest-earning assets
   
25,050
                     
25,341
                 
Total assets
 
$
1,656,547
                   
$
1,443,461
                 
 
                                               
Funding sources:
                                               
Interest-bearing liabilities:
                                               
Deposits:
                                               
Transaction accounts
 
$
817,819
     
6,860
     
3.36
%
 
$
693,619
     
555
     
0.32
%
Time deposits
   
265,396
     
2,684
     
4.06
     
183,494
     
323
     
0.71
 
Total interest-bearing deposits
   
1,083,215
     
9,544
     
3.53
     
877,113
     
878
     
0.40
 
Total interest-bearing liabilities
 
$
1,083,215
     
9,544
     
3.53
   
$
877,113
     
878
     
0.40
 
 
                                               
Noninterest-bearing liabilities:
                                               
Noninterest-bearing deposits
 
$
403,207
                   
$
429,388
                 
Other noninterest-bearing liabilities
   
12,180
                     
6,925
                 
Total noninterest-bearing liabilities
   
415,387
                     
436,313
                 
Shareholders' equity
   
157,945
                     
130,035
                 
Total liabilities and shareholders' equity
 
$
1,656,547
                   
$
1,443,461
                 
 
                                               
Net interest income
         
$
20,498
                   
$
15,794
         
Net interest spread
                   
3.85
%
                   
4.32
%
Net interest margin
                   
5.04
%
                   
4.47
%

(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 second quarter results, which will be broadcast live over the Internet, on Thursday, July 20, 2023 at 9:00 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/pODMrqAr9XJ. For those not able to participate in the live call, an archive of the webcast will be available at https://app.webinar.net/pODMrqAr9XJ 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



EX-99.2 3 brhc20056101_ex99-2.htm EXHIBIT 99.2
Exhibit 99.2

 Q2 2023   Earnings Release  BSVN  July 20, 2023 
 

 BSVN – Corporate Overview  Consistently ranked by S & P Global Market Intelligence as one of the Top Performing Community Banks in the United States  Stable deposits and a strong cash position, and less dependent on uninsured deposits when compared to the industry average(3)  Disciplined credit culture that adheres to a robust risk management framework resulting in excellent credit quality and a history of low loan losses  Experienced and talented bankers focused on high-touch personalized service, targeting entrepreneurs and their commercial banking needs  Positioned in dynamic markets, with a commercial banking emphasis delivering services via a branch-lite model  Shareholder alignment due to 58% insider ownership   Dollars in thousands, all data as of June 30,2023, unless indicated otherwise  Adjusted equity within calculation to back-out the impact of the tax effected unrealized loss included in AOCI. See slide 21 for the indicated amounts.   BSVN adopted the CECL model (ASC326) on 1/1/2023 using the modified retrospective method. The presented allowance for periods prior to 1/1/2023 is under the incurred loss model (pre-ASC326).   See slide 4 for uninsured deposit comparison to industry average 
 

 Q2 Overview  Total deposits increased $16.67 million or 1.12% as compared to Q1 2023.  Uninsured deposits represent 22.17% of total deposits, as compared to the industry average of 34.00%(1)  The sum of cash plus unpledged securities, and our undrawn lines-of-credit equals $506.69 million, which exceeds our adjusted uninsured deposits of $247.93 million(2), providing a 2.04X coverage  Stable Quality Deposits & Liquidity  Dollars in thousands, all data as of June 30,2023, unless indicated otherwise  Based on Call Report data; Source: S&P Global; See slide 4  See slide 4 for adjusted uninsured deposit calculation  All U.S. Banks/Thrifts; Must be traded on a major exchange; As of Q1 2023; Source: S&P Global; See slide 3  Disciplined loan pricing combined with our consistent net interest margin and low efficiency ratio drove record PPE and EPS  Record EPS results were achieved through core earnings with no share repurchases  Record PPE, Net Income, and EPS  Our strong earnings and low dividend payout ratio builds capital rapidly  Capital ratios remain robust and exceed the “well capitalized” guidelines  CET 1 Capital: 11.88% an increase of 54 bps  Tier 1 Leverage: 9.71% an increase of 23 bps  Debt free Balance Sheet  No HTM securities   Prudent Capital Management  $914.36 million or 77.05% of loans reprice in 1 year or less, with $879.97 million or 68.78% repricing daily  Cash to total assets was 11.68% at quarter end, as compared to the industry average of 5.78%(3); however, the sum of our cash plus unpledged securities to total assets was 20.68% at quarter end; securities are available for immediate liquidation if necessary  Minimal AOCI impact; the average duration of our investment portfolio is ~2.4 years, with $100.00 million of U.S. Treasuries or 55.27% maturing in February of 2024  Proven & Consistent Balance Sheet Management 
 

 Liquidity and Asset Sensitivity  Dollars in thousands, all data as of June 30,2023, unless indicated otherwise  Based on Call Report data for public banks; Source: S&P Global.  See slide 4 for adjusted uninsured deposit reconciliation  Includes $879.97 million of loans that reprice daily, with $78.28 million of those loans being at their ceiling  Asset Sensitivity  Comparative Banking Industry Data  (3) 
 

 Uninsured Deposits / Total Deposits  All Banks (1)(2)  Uninsured Deposits  Dollars are in thousands  Based on Call Report data for public banks; Source: S&P Global.  The 2023 data presented is as of Q1 2023 for public banks(the latest data available) and Q2 2023 for BSVN data.  Uninsured Deposits | Cash/Liquidity  Uninsured deposits total $334.31 million or 22.17% of total deposits; however, after deductions for insider owned, and also collateralized deposits, our adjusted uninsured deposits are $247.93 million, which is only 16.44% of total deposits  Cash, securities, and our undrawn lines of credit totaled $506.69 million, an increase of $86.80 million or 20.67% as compared to Q1 2023, providing a 2.04X coverage of our adjusted uninsured deposits 
 

 Deposit Composition  Deposit Growth & Composition  Year-to-date deposits increased $78.90 million or 5.52%   Historically we have shown steady growth in our core and non-interest bearing accounts(1)  CAGR since 2018: 19.5%  Dollars in millions  Includes interest bearing and non-interest bearing demand deposit, money market, and savings accounts  
 

 Consistent Net Interest Margin  Financial data is as of or for the three months ended March 31, 2023 and June 30, 2023, 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  ◼︎ Loan Fee Income Contribution  Our net interest margin continued to show strength due to disciplined loan pricing, a healthy amount of non-interest bearing deposits, and our asset sensitive balance sheet  During the quarter we benefited 5 bps by a purchase accounting adjustment. Real-time core NIM is approximately 4.55%. 
 

 Diluted Earnings Per Share  38.68% increase  1  Pro Forma  $0.81  Tangible Book Value Per Share  CAGR since 2018: 16.1%  Record EPS:  $1.05 for Q2, a 38.68% increase from Q2 2022   No share repurchases during the year  Consistent Capital & EPS Growth  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  Consistently strong earnings increased TBV despite three factors:  $0.85 per share paid for an all-cash acquisition in Q4 2021  $0.89 per share AOCI unrealized loss from investments  $2.30 per share paid in cash dividends 
 

 Return on Average Tangible Common Equity (1)(2)  5 year average: 22.1%  Efficiency Ratio (2)  5 year average: 37.5%  Return on Average Assets (1)(2)  5 year average: 2.3%  Reliable Top Performer  Dollars are in millions  Financial data is as of or for the twelve months ended December 31 of each respective year and for the three months ended March 31, 2023 and June 30, 2023  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  20.90%  Pro Forma  2.51%  1.03%  Pro Forma  As expected, the Q4 2021 acquisition of Watonga Bancshares caused a temporary decline in ROAA and a slight increase in our efficiency ratio; however, both metrics have returned to historical ranges  Pro Forma  8.60%  38.83% 
 

 Consistently Outperforming Peers  Income Statement as a Percentage of Average Assets  PPE to Average Assets vs Peers  Dollars are in thousands  Peer group is defined as exchange-traded banks nationwide with assets between $500mm-$5bn (149 banks); Source: S&P Global Market Intelligence.  Excludes one-time, non-cash executive stock transfer compensation expense of $11.8 million.  As of Q1 2023, the latest data available.  
 

 Maximizing Our Employee Base (3)  PPE(1)  46.35% increase  Strength in Core Earnings  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, 2023 and June 30, 2023  Pre-provision, pre-tax earnings (“PPE”) is a non-GAAP financial measure. See appendix for reconciliation to their most comparable GAAP measure  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  Pro Forma  $26.8  $15.1  Record PPE of $13.92 million:  An increase of 46.35% as compared to Q2 2022  Strong PPE was driven by:  Disciplined loan pricing  Rising rates and an asset sensitive balance sheet  We scale and achieve maximum productivity by:  Utilizing a branch-lite model  Hiring fewer but better FTEs  Operating an efficient delivery system with a strict adherence to our processes  3.56%  Actual  Pro  Forma  2  2 
 

 Loan Portfolio Trends  Loan Portfolio Trends – Selected Categories  Dollars are in millions  CAGR Since 2018: 18.3%  12.6%  26.6%  21.2%  39.6% 
 

 Loan Portfolio Distribution  Dollars are in millions. Data as of June 30, 2023  Loan Portfolio  Selected Categories 
 

 COVID-19 Pandemic  Net Charge-Offs to Average Loans  Low historical charge-offs due to:  Disciplined approach to lending  Geographic footprint in high growth metros with thriving economies (OK and TX)  Management team with long history of making loans with low historical loss levels  Tenured lending staff with 81% of balances from team members with > 10 years of common experience  0.00% 
 

 Diverse CRE Portfolio  Dollars are in millions. Data as of June 30, 2023  Diverse commercial real estate lending activity in Texas and Oklahoma with an emphasis in the DFW, Oklahoma City, and Tulsa metros  Minimal office and retail loans with over-weighting in each segment to owner-occupied properties  No office exposure to downtown metropolitan locations  Office Loan Average Size:  Owner Occupied — $0.80 million  Non-Owner Occupied — $0.99 million  Construction lending activity primarily in Oklahoma City and the Dallas metroplex with an emphasis on entry level homes with established homebuilders  Limited lot and development lending activity  Hospitality niche managed by seasoned professionals with proven track record through various economic cycles  CONSTRUCTION  OWNER OCCUPIED 
 

 Hotel Portfolio by Class  Hotel Portfolio by Location  Hospitality Loan Portfolio Detail  Dollars are in millions, data as June 30, 2023  No historical NCOs in the hospitality segment  Blue collar portfolio that is well-protected by the “cycle-down” effect of a recession   Geographically concentrated in TX (81%) 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  Average loan size of $4.74 million  3.56%  Actual  Hotel Portfolio by Location 
 

 Total Assets  Strategic Growth in Dynamic Markets  Dollars are in millions  2014  2015  2016  2017  2018  2019  2020  2021  2022  Q2 2023  LPO opened in Tulsa, OK, full-service branch opened in Frisco, TX  Oklahoma acquisition  Full-service branch opened in Tulsa, OK   Completed IPO  Full-service branch opened in Irving, TX  LPO opened in  Irving, TX  Kansas acquisition  CAGR Since 2014: 15.9% 
 

 Earnings-driven Capital Shock-absorption  Earnings-driven cushion far exceeds regulatory capital minimums as illustrated over a two-year period, consistent with DFAST parameters(1)  Dollars are in thousands  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 $52.7 million extrapolated over two years 
 

 Appendix 
 

 Bank7 Corp. Financials  BSVN adopted the CECL model (ASC326) on 1/1/2023 using the modified retrospective method. The presented allowance for periods prior to 1/1/2023 is under the incurred loss model (pre-ASC326).  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 tax periods; EPS calculation is based on diluted shares and combined federal and state effective tax rate for the three months ended June 30, 2023, March 31, 2023 and June 30, 2022 of 24.5%, 23.5%, and 24.5%, respectively  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 24 of this presentation 
 

 Bank7 Corp. Performance Ratios  Annualized.  Return on average assets and shareholder’s 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, 2023, Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 9.47%, 11.88%, and 13.09% 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 24 of this presentation 
 

 Non-GAAP Reconciliations 
 

 Non-GAAP Reconciliations -- Continued 
 

 Available-for-Sale Securities Portfolio  Investment 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 $169.9 million as of June 30, 2023  Weighted Average Duration: 2.4 Years  Book Yield: 1.78% 
 

 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. 
 

 Legal Information and Distribution  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.