benzinga69d ago
OKLAHOMA CITY , April 14, 2026 /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, 2026. "We are pleased to announce record EPS, net income and PPE while maintaining a strong net interest margin, excellent credit quality, and robust liquidity. We are excited about 2026, as our properly matched balance sheet has us well positioned to continue to take advantage of our dynamic geographic region," said Thomas L. Travis, President and CEO of the Company. For the three months ended March 31, 2026 compared to the three months ended March 31, 2025: Net income of $12.01 million compared to $10.34 million, an increase of 16.16% Earnings per share of $1.25 compared to $1.08, an increase of 15.74% Total assets of $1.95 billion compared to $1.79 billion, an increase of 8.94% Total loans of $1.59 billion compared to $1.42 billion, an increase of 11.94% Pre-provision pre-tax earnings of $15.82 million compared to $13.71 million, an increase of 15.37% Total interest income of $33.78 million compared to $30.44 million, an increase of 10.99% 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, 2026, the Bank's Tier 1 leverage ratio, Tier 1 risk-based capital ratio, and total risk-based capital ratios were 13.24%, 14.79%, and 15.96%, respectively. On March 31, 2026, on a consolidated basis, the Company's Tier 1 leverage ratio, Tier 1 risk-based capital ratio, and total risk-based capital ratios were 13.24%, 14.78%, and 15.96%, 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. 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, March 31, 2026 2025 Calculation of Pre-Provision Pre-Tax Earnings (Dollars in thousands) Net Income $ 12,006 $ 10,336 Income Tax Expense 3,815 3,377 Pre-tax net income 15,821 13,713 Add back: Provision for credit losses - - Add back: (Gain)Loss on sales/calls of AFS debt securities - - Pre-provision pre-tax earnings $ 15,821 $ 13,713 Unaudited Condensed Consolidated Balance Sheets (Dollar amounts in thousands, except par value) Assets March 31, 2026 (unaudited) December 31, 2025 (Dollars in thousands) Cash and due from banks $ 246,701 $ 244,635 Interest-bearing time deposits in other banks 3,735 10,457 Available-for-sale debt securities (amortized cost of $55,632 and $57,316 at March 31, 2026 and December 31, 2025, respectively) 52,140 54,019 Loans, net of allowance for credit losses of $19,452 and $19,407 at March 31, 2026 and December 31, 2025, respectively 1,574,376 1,587,024 Loans held for sale 3,865 2,078 Premises and equipment, net 24,110 21,884 Nonmarketable equity securities 1,158 1,165 Core deposit intangibles 721 752 Goodwill 11,208 11,208 Interest receivable and other assets 27,066 30,418 Total assets $ 1,945,080 $ 1,963,640 Liabilities and Shareholders' Equity Deposits Noninterest-bearing $ 336,801 $ 341,416 Interest-bearing 1,334,580 1,359,417 Total deposits 1,671,381 1,700,833 Income taxes payable 3,912 594 Interest payable and other liabilities 9,966 11,218 Total liabilities 1,685,259 1,712,645 Shareholders' equity Common stock, $0.01 par value; 50,000,000 shares authorized; shares issued and outstanding: 9,519,335 and 9,462,656 at March 31, 2026 and December 31, 2025, respectively 95 95 Additional paid-in capital 103,270 103,739 Retained earnings 159,143 149,707 Accumulated other comprehensive loss (2,687) (2,546) Total shareholders' equity 259,821 250,995 Total liabilities and shareholders' equity $ 1,945,080 $ 1,963,640 Unaudited Condensed Consolidated Statements of Comprehensive Income (Dollar amounts in thousands, except per share data) Three Months ... Full story available on Benzinga.com
