Bank7 Corp. Announces 4Q and Full Year 2019 Earnings

OKLAHOMA CITY, Jan. 30, 2020 /PRNewswire/ -- Bank7 Corp. (NASDAQ: BSVN) ("the Company"), the parent company of Oklahoma City-based Bank7 (the "Bank"), today reported unaudited results for the fiscal quarter and year ended December 31, 2019.  "The fourth quarter was another good quarter for Bank7 and we are particularly pleased with our robust loan growth, the continuation of excellent credit quality, and our ability to maintain a strong net interest margin, especially in a declining interest rate environment," said Thomas L. Travis, President and CEO of the Company.  "Additionally, for the full year, we are very pleased that our pro forma pre-tax income increased by $1 million, or 4.05%.  This was achieved in spite of incurring costs associated with launching into two new markets and modernizing our Oklahoma City branch and headquarters."

Bank7 Logo (PRNewsfoto/Bank7 Corp.)

On September 5, 2019, our largest shareholders, the Haines Family Trusts, contributed approximately 6.5% of their shares to the Company.  Subsequently, the Company immediately issued those shares to certain executive officers, which was charged as compensation expense through the income statement of the Company.  This previously announced transaction was recorded as a one-time, non-cash expense; however, because the shares were simultaneously contributed to the Company by the Haines Family Trusts, the transaction had a virtual net-zero impact to shareholders' equity.

Excluding the one-time, extraordinary expense related to the stock transfer outlined above, net income would have been $20.0 million and for the year ending December 31, 2019.  Illustrated below is a reconciliation of pro forma net income through the year ended December 31, 2019.



For the Year Ended

December 31,










2019



2018



$ Change



% Change


(Dollars in thousands)













Pro Forma Net Income













Total Interest Income


$

51,709



$

46,800



$

4,909




10.49

%

Total Interest Expense



9,516




7,169




2,347




32.73

%

Net Interest Margin



42,193




39,631




2,562




6.47

%

Provision for Loan Losses


$

-



$

200



$

(200)






Total Noninterest Income


$

1,284



$

1,331



$

(47)




(3.51)

%


















Total Noninterest Expense


$

28,432



$

14,966



$

13,466




89.98

%

Stock Transfer Compensation Expense (1)



(11,796)




-




(11,796)






Pro Forma Noninterest Expense



16,636




14,966




1,670




11.16

%


















Pro Forma Pre-Tax Income


$

26,842



$

25,796



$

1,046




4.05

%


















Pro Forma Income Tax Expense


$

6,836



$

5,719



$

1,117




19.53

%


















Pro Forma Net After-Tax Income


$

20,006



$

20,077



$

(71)




(0.36)

%


(1)

 Compensation expense includes $168,000 in payroll taxes.

Additional Highlights

For the three months ended December 31, 2019 compared to three months ended December 31, 2018:

  • Interest income on loans, including loan fee income, totaled $12.3 million, a 4.33% increase
  • Average loans of $692.3 million, a 15.3% increase

For the year ended December 31, 2019 compared to the year ended December 31, 2018:

  • Yield on average earning assets, including loan fee income, of 6.55%, an increase of 1.10%
  • Interest income on loans, including loan fee income, totaled $48.2 million, a 8.86% increase
  • Average loans of $636.3 million, a 8.98% increase
  • Total loans of  699.5 million, a 18.14 increase
  • Core deposits of $678.1 million, a 10.24% increase

Both the Bank's and the Company's capital levels continue to be significantly above the minimum levels required to be designated as "well-capitalized" for regulatory purposes.  At December 31, 2019 the Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 11.65%, 14.28%, and 15.42% respectively for the Bank.  At December 31, 2019 the Tier 1 leverage ratio, Tier 1 risk based capital ratio, and total risk-based capital ratios were 11.49%, 14.06%, and 15.20% respectively for the Company on a consolidated basis.  Designation as a well-capitalized institution under regulations does not constitute a recommendation or endorsement by bank regulators.

Pre-tax, pre-provision net income is defined as income before taxes and provision for loan losses.  We believe the most directly comparable GAAP financial measure is income before taxes.  Disclosure of this measure enables you to compare our operations to those of other banking companies before consideration of taxes and provision expense, which some investors may consider to be a more appropriate comparison given our S Corporation status prior to September 2018.  We calculate our tax-adjusted net income, return on average assets, and return on average equity, and per share amounts by using a combined C Corporation effective tax rate for federal and state income taxes of 45.5% and 22.2% in 2019 and 2018, respectively.  This calculation illustrates only the change from our status as a S Corporation into a C Corporation and does not give effect to any other transaction.  However, we acknowledge that our non-GAAP financial measures have a number of limitations.  As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other banking companies use.  Other banking companies may use names similar to those we use for non-GAAP financial measures we disclose, but may calculate them differently.  You should understand how we and other companies each calculate their non-GAAP financial measures when making comparisons.  The following reconciliation table provides a more detailed analysis of these non-GAAP financial measures:



Three months ended

December 31,



For the Year ended

December 31,


(Dollars in thousands, except per share data)


2019



2018



2019



2018


Loan interest income (excluding loan fees)













Total loan interest income, including loan fee income


$

12,299



$

11,789



$

48,200



$

44,279


Loan fee income



(944)




(1,229)




(4,443)




(5,121)


Loan interest income excluding loan fee income


$

11,355



$

10,560



$

43,757



$

39,158



















Average total loans


$

692,286



$

600,400



$

636,274



$

583,821


Yield on loans (including loan fee income)



7.05

%



7.79

%



7.58

%



7.58

%

Yield on loans (excluding loan fee income)



6.51

%



6.98

%



6.88

%



6.71

%


















Net interest margin (excluding loan fees)

















Net interest income


$

10,658



$

10,530



$

43,193



$

39,631


Loan fee income



(944)




(1,229)




(4,443)




(5,121)


Net interest income excluding loan fees


$

9,714



$

9,301



$

37,750



$

34,510



















Average earning assets


$

837,252



$

760,869



$

789,009



$

721,935


Net interest margin (including loan fee income)



5.05




5.49

%



5.35

%



5.49

%

Net interest margin (excluding loan fee income)



4.60




4.85

%



4.78

%



4.78

%


















Pre-tax, pre-provision net earnings

















Net income before income taxes


$

6,358



$

6,753



$

15,045



$

25,797


Plus: Provision (reversal of) for loan losses



-




(100)




-




(200)


Pre-tax, pre-provision net earnings


$

6,358



$

6,853



$

15,045



$

25,997



















Adjusted provision for income tax

















Net income before income taxes


$

6,358



$

6,753



$

15,045



$

25,797


Total effective adjusted tax rate



29.6

%



17.7

%



45.5

%



22.2

%

Adjusted provision for income taxes


$

1,879



$

1,192



$

6,844



$

5,720



















Tax-adjusted net income

















Net income before income taxes


$

6,358



$

6,753



$

15,045



$

25,797


Adjusted provision for income taxes



1,879




1,192




6,844




5,720


Tax-adjusted net income


$

4,479



$

5,561



$

8,201



$

20,077



















Tax-adjusted ratios and per share data

















Tax-adjusted net income (numerator)


$

4,479



$

5,561



$

8,201



$

20,077



















Average assets (denominator)


$

845,510



$

769,170



$

798,528



$

730,564


Tax-adjusted return on average assets



2.10

%



2.87

%



1.03

%



2.75

%


















Average shareholders' equity (denominator)


$

102,691



$

85,790



$

97,430



$

78,148


Tax-adjusted return on average shareholders' equity



17.31

%



25.72

%



8.42

%



25.69

%


















Average tangible common equity (denominator)


$

100,872



$

83,763



$

95,537



$

76,046


Tax-adjusted return on average tangible common equity



17.62

%



26.34

%



8.58

%



26.40

%


















Weighted average common shares outstanding basic (denominator)



10,057,506




10,187,500




10,145,032




8,105,856


Tax-adjusted net income per common share--basic


$

0.45



$

0.55



$

0.81



$

2.48



















Weighted average common shares outstanding diluted (denominator)



10,059,208




10,322,193




10,147,311




8,237,638


Tax-adjusted net income per common share--diluted


$

0.45



$

0.54



$

0.81



$

2.44


Pro forma weighted average common shares outstanding basic (denominator)



10,206,931








10,192,930






Pro Forma tax-adjusted net income per common share--basic


$

0.46







$

1.96























Pro forma weighted average common shares outstanding diluted (denominator)



10,205,229








10,192,930






Pro forma tax-adjusted net income per common share--diluted


$

0.46







$

1.96























Tangible assets

















Total assets


$

866,392



$

770,511










Less: Goodwill and intangibles



(1,789)




(1,995)










Tangible assets


$

864,603



$

768,516



























Tangible shareholders' equity

















Total shareholders' equity


$

100,126



$

88,467










Less: Goodwill and intangibles



(1,789)




(1,995)










Tangible shareholders' equity


$

98,337



$

86,472



























Tangible shareholders' equity

















Tangible shareholders' equity (numerator)


$

98,337



$

86,472










Tangible assets (denominator)


$

864,603



$

768,516










Tangible common equity to tangible assets



11.37

%



11.25

%


























End of period common shares outstanding



10,057,506




10,187,500










Book value per share


$

9.96



$

8.68










Tangible book value per share


$

9.78



$

8.49










Total shareholders' equity to total assets



11.56

%



11.48

%









 



Net Interest Margin Excluding Loan Fee Income




For the Three Months Ended December 3,1




2019



2018




Average

Balance



Interest

Income/

Expense



Average

Yield/

Rate



Average

Balance



Interest

Income/

Expense



Average

Yield/

Rate




(Dollars in thousands)


Interest-earning assets:



















Short-term investments(1)


$

143,604



$

674




1.86

%


$

159,215



$

795




1.98

%

Investment securities(2)



1,073




23




8.50




1,055







0.00


Loans held for sale



289







0.00




199







0.00


Total loans(3)



692,286




11,355




6.51




600,400




10,560




6.98


Total interest-earning assets



837,252




12,052




5.71




760,869




11,355




5.92


Noninterest-earning assets



8,258












8,301










Total assets


$

845,510











$

769,170



































Funding sources:

























Interest-bearing liabilities:

























Deposits:

























Transaction accounts


$

314,106




1,133




1.43

%


$

259,614




1,155




1.77

%

Time deposits



213,716




1,205




2.24




196,696




899




1.81


Total interest-bearing deposits



527,822




2,338




1.76




456,310




2,054




1.79


Other borrowings









0.00











Total interest-bearing liabilities



527,822




2,338




1.76




456,310




2,054




1.79



























Noninterest-bearing liabilities:

























Noninterest-bearing deposits



210,986












221,716










Other noninterest-bearing liabilities



4,011












5,354










Total noninterest-bearing liabilities



214,997












227,070










Shareholders' equity



102,691












85,790










Total liabilities and shareholders' equity


$

845,510











$

769,170



































Net interest income including loan fee income






$

9,714











$

9,301






Net interest spread including loan fee income(4)











3.95

%











4.13

%

Net interest margin including loan fee income











4.60

%











4.85

%

 



Net Interest Margin With Loan Fee Income




For the Three Months Ended December 31,




2019



2018




Average

Balance



Interest

Income/

Expense



Average

Yield/

Rate



Average

Balance



Interest

Income/

Expense



Average

Yield/

Rate




(Dollars in thousands)


Interest-earning assets:



















Short-term investments(1)


$

143,604



$

674




1.80

%


$

159,215



$

795




1.98

%

Investment securities(2)



1,073




23




8.50




1,055







0.00


Loans held for sale



289







0.00




199







0.00


Total loans(3)



692,286




12,299




7.05




600,400




11,789




7.79


Total interest-earning assets



837,252




12,996




6.16




760,869




12,584




6.56


Noninterest-earning assets



8,258












8,301










Total assets


$

845,510











$

769,170



































Funding sources:

























Interest-bearing liabilities:

























Deposits:

























Transaction accounts


$

314,106




1,133




1.43

%


$

259,614




1,155




1.77

%

Time deposits



213,716




1,205




2.24




196,696




899




1.81


Total interest-bearing deposits



527,822




2,338




1.76




456,310




2,054




1.79


Other borrowings









0.00










0.00


Total interest-bearing liabilities



527,822




2,338




1.76




456,310




2,054




1.79



























Noninterest-bearing liabilities:

























Noninterest-bearing deposits



210,986












221,716










Other noninterest-bearing liabilities



4,011












5,354










Total noninterest-bearing liabilities



214,997












227,070










Shareholders' equity



102,691












85,790










Total liabilities and shareholders' equity


$

845,510











$

769,170



































Net interest income excluding loan fee income






$

10,658











$

10,530






Net interest spread excluding loan fee income(4)











4.40

%











4.78

%

Net interest margin excluding loan fee income











5.05

%











5.49

%


(1)

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

(2)

Includes income and average balances for FHLB and FRB stock.

(3)

Non-accrual loans are included in loans.

(4)

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

 



Net Interest Margin Excluding Loan Fee Income




For the Year Ended December 31,




2019



2018




Average

Balance



Interest

Income/

Expense



Average

Yield/

Rate



Average

Balance



Interest

Income/

Expense



Average

Yield/

Rate




(Dollars in thousands)


Interest-earning assets:



















Short-term investments(1)


$

151,434



$

3,459




2.28

%


$

136,880



$

2,521




1.84

%

Investment securities(2)



1,065




50




4.69




1,052







0.00


Loans held for sale



236







0.00




182







0.00


Total loans(3)



636,274




43,757




6.88




583,821




39,158




6.71


Total interest-earning assets



789,009




47,266




5.99




721,935




41,679




5.77


Noninterest-earning assets



9,519












8,629










Total assets


$

798,528











$

730,564



































Funding sources:

























Interest-bearing liabilities:

























Deposits:

























Transaction accounts


$

295,576




5,057




1.71

%


$

240,881




3,584




1.49

%

Time deposits



208,375




4,459




2.14




220,023




3,410




1.55


Total interest-bearing deposits



503,951




9,516




1.89




460,904




6,994




1.52


Other borrowings









0.00




3,652




175




4.79


Total interest-bearing liabilities



503,951




9,516




1.89




464,556




7,169




1.54



























Noninterest-bearing liabilities:

























Noninterest-bearing deposits



192,562












183,750










Other noninterest-bearing liabilities



4,585












4,110










Total noninterest-bearing liabilities



197,147












187,860










Shareholders' equity



97,430












78,148










Total liabilities and shareholders' equity


$

798,528











$

730,564



































Net interest income excluding loan fee income






$

37,750











$

34,510






Net interest spread excluding loan fee income(4)











4.10

%











4.23

%

Net interest margin excluding loan fee income











4.78

%











4.78

%


(1)

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

(2)

Includes income and average balances for FHLB and FRB stock.

(3)

Non-accrual loans are included in loans.

(4)

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

 



Net Interest Margin With Loan Fee Income




For the Year Ended December 31,




2019



2018




Average

Balance



Interest

Income/

Expense



Average

Yield/

Rate



Average

Balance



Interest

Income/

Expense



Average

Yield/

Rate




(Dollars in thousands)


Interest-earning assets:



















Short-term investments(1)


$

151,434



$

3,459




2.28

%


$

136,880



$

2,521




1.84

%

Investment securities(2)



1,065




50




4.69




1,052







0.00


Loans held for sale



236







0.00




182







0.00


Total loans(3)



636,274




48,200




7.58




583,821




44,279




7.58


Total interest-earning assets



789,009




51,709




6.55




721,935




46,800




6.48


Noninterest-earning assets



9,519












8,629










Total assets


$

798,528











$

730,564



































Funding sources:

























Interest-bearing liabilities:

























Deposits:

























Transaction accounts


$

295,576




5,057




1.71

%


$

240,881




3,584




1.49

%

Time deposits



208,375




4,459




2.14




220,023




3,410




1.55


Total interest-bearing deposits



503,951




9,516




1.89




460,904




6,994




1.52


Other borrowings









0.00




3,652




175




4.79


Total interest-bearing liabilities



503,951




9,516




1.89




464,556




7,169




1.54



























Noninterest-bearing liabilities:

























Noninterest-bearing deposits



192,562












183,750










Other noninterest-bearing liabilities



4,585












4,110










Total noninterest-bearing liabilities



197,147












187,860










Shareholders' equity



97,430












78,148










Total liabilities and shareholders' equity


$

798,528











$

730,564



































Net interest income including loan fee income






$

42,193











$

39,631






Net interest spread including loan fee income(4)











4.67

%











4.94

%

Net interest margin including loan fee income











5.35

%











5.49

%


(1)

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

(2)

Includes income and average balances for FHLB and FRB stock.

(3)

Non-accrual loans are included in loans.

(4)

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

 

Bank7 Corp.

Consolidated Balance Sheets


Dollars in thousands, except per share data


Unaudited as of





Assets


2019



December 31,




December 31



September 30



2018












Cash and due from banks


$

117,128



$

110,594



$

128,090


Interest-bearing time deposits in other banks



30,147




31,890




31,759


Loans, net



699,458




666,755




592,078


Loans held for sale



1,031




-




512


Premises and equipment, net



9,624




8,395




7,753


Nonmarketable equity securities



1,100




1,072




1,055


Foreclosed assets held for sale



-




77




110


Goodwill and intangibles



1,789




1,840




1,995


Interest receivable and other assets



6,115




6,198




7,159















Total assets


$

866,392



$

826,821



$

770,511















Liabilities and Shareholders' Equity


























Deposits













Noninterest-bearing


$

219,221



$

202,989



$

201,159


Interest-bearing



538,262




519,145




474,743















Total deposits



757,483




722,134




675,902















Income taxes payable



-




-




1,913


Interest payable and other liabilities



8,783




4,072




4,229















Total liabilities



766,266




726,206




682,044















Common stock



101




101




102


Additional paid-in capital



92,391




92,353




80,275


Retained earnings



7,610




8,161




8,090


Accumulated Other Comprehensive Income



24




-




-















Total shareholders' equity



100,126




100,615




88,467















Total liabilities and shareholders' equity


$

866,392



$

826,821



$

770,511


 

Bank7 Corp.

Consolidated Statements of Income




Unaudited as of







Quarter Ended



Year Ended




2019



2018



2019



2018


Dollars in thousands, except per share data


December 31



September 30



December 31



December 31



December 31


Interest Income
















Loans, including fees


$

12,299



$

12,179



$

11,789



$

48,200



$

44,279


Interest-bearing time deposits in other banks



295




500




150




1,709




588


Interest-bearing deposits in other banks



402




392




645




1,800




1,933























Total interest income



12,996




13,071




12,584




51,709




46,800























Interest Expense





















Deposits



2,338




2,471




2,054




9,516




6,994


Other borrowings



-




-




-




-




175























Total interest expense



2,338




2,471




2,054




9,516




7,169























Net Interest Income



10,658




10,600




10,530




42,193




39,631























Provision for Loan Losses



-




-




100




-




200























Net Interest Income After Provision for Loan Losses



10,658




10,600




10,430




42,193




39,431























Noninterest Income





















Secondary market income



18




69




39




164




212


Service charges on deposit accounts



113




110




86




392




347


Other



126




330




137




728




772























Total noninterest income



257




509




262




1,284




1,331























Noninterest Expense





















Salaries and employee benefits



2,473




14,256




2,035




21,265




8,113


Furniture and equipment



223




229




193




829




684


Occupancy



520




436




207




1,677




1,310


Data and item processing



264




276




250




1,078




966


Accounting, marketing and legal fees



250




218




87




757




305


Regulatory assessments



32




31




146




126




542


Advertising and public relations



239




71




140




588




553


Travel, lodging and entertainment



81




153




81




368




699


Other



475




402




800




1,744




1,793























Total noninterest expense



4,557




16,072




3,939




28,432




14,965























Income Before Taxes



6,358




(4,963)




6,753




15,045




25,797


Income tax expense



1,879




1,556




1,192




6,844




797


Net Income


$

4,479



$

(6,519)



$

5,561



$

8,201



$

25,000























Earnings per common share - basic


$

0.45



$

(0.64)



$

0.55



$

0.81



$

3.08


Diluted earnings per common share



0.45




(0.64)




0.54




0.81




3.03


Weighted average common shares outstanding - basic



10,057,506




10,149,007




10,187,500




10,145,032




8,105,856


Weighted average common shares outstanding - diluted



10,059,208




10,161,778




10,322,193




10,147,311




8,237,638


About Bank7 Corp.

We are Bank7 Corp., a bank holding company headquartered in Oklahoma City, Oklahoma. Through our wholly-owned subsidiary, Bank7, we operate nine locations in Oklahoma, the Dallas/Fort Worth, Texas metropolitan area and Kansas. We are focused on serving business owners and entrepreneurs by delivering fast, consistent and well-designed loan and deposit products to meet their financing needs. We intend to grow organically by selectively opening additional branches in our target markets as well as pursue strategic acquisitions.

Conference call

Bank7 Corp. has scheduled a conference call to discuss its fourth quarter and full year 2019 results, which will be broadcast live over the Internet, on Thursday, January 30 at 4:30 p.m. Eastern Time. To participate in the call, dial 1-888-348-6421, or access it live over the Internet at https://www.webcaster4.com/Webcast/Page/2179/32829. For those not able to participate in the live call, an archive of the webcast will be available at https://www.webcaster4.com/Webcast/Page/2179/32829 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 direct and indirect effect of economic conditions on interest rates, credit quality, loan demand, liquidity, and monetary and supervisory policies of banking regulators.  Bank7 Corp. has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that Bank7 Corp. believes may affect its financial condition, results of operations, business strategy and financial needs. Bank7 Corp.'s actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. If one or more events related to these or other risks or uncertainties materialize, or if Bank7 Corp.'s underlying assumptions prove to be incorrect, actual results may differ materially from what Bank7 Corp. anticipates. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made and Bank7 Corp. undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as may be required by law. All forward-looking statements herein are qualified by these cautionary statements.

About Non-GAAP Financial Measures

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

Contact:

Thomas Travis
President & CEO
(405) 810-8600

 

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SOURCE Bank7 Corp.

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