Bank7 Corp.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 7, 2025
BSVN$58.39-0.1%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-05-12.
0001140361-25-018373
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-08-07.
0001140361-25-029593
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 102 previous paragraphs and 105 current paragraphs.
82 unchanged; 16 reworded; 7 added; 4 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 30 previous and 42 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (7)
Current report
For the second quarter of 2025 compared to the second quarter of 2024:
Current report
For the first six months of 2025 compared to the same period in 2024:
Current report
For the six months ended June 30, 2025 compared to the six months ended June 30, 2024:
Current report
Noninterest income for the three months ended June 30, 2025 was $2.7 million compared to $3.2 million for the same period in 2024, a decrease of $464,000, or 14.7%. The decrease was primarily attributable to income related to operations of oil and gas assets, see Note 2 of the financial statements.
Current report
Noninterest income for the six months ended June 30, 2025 was $4.5 million compared to $5.2 million for the same period in 2024, a decrease of $718,000, or 13.9%. The decrease was primarily attributable to income related to operations of oil and gas assets, see Note 2 of the financial statements.
Current report
Noninterest expense for the six months ended June 30, 2025 was $18.6 million compared to $18.3 million for the same period in 2024, an increase of $338,000, or 1.9%.
Current report
The Company’s effective tax rate was 24.5% for the second quarter of 2025, which was consistent with the rate of 24.6% for the same period in 2024. Our effective tax rate differs from the U.S. federal statutory rate of 21% primarily due to the effect of state income taxes, tax-exempt income earned on certain loans and investments, and nondeductible expenses.
Removed paragraphs (4)
Previous report
Three Months Ended March 31, 2025 and March 31, 2024
Previous report
For the first quarter of 2025 compared to the first quarter of 2024:
Previous report
(1) Variances attributable to both volume and rate are allocated on a consistent basis between rate and volume based on the absolute value of the variances in each category.
Previous report
Noninterest income for the three months ended March 31, 2025 was $1.8 million compared to $2.0 million for the same period in 2024, a decrease of $251,000, or 12.5%.
Reworded paragraphs (16)
Previous wording
Management’s Discussion and Analysis of Financial Condition and Results of Operations
Current wording
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Previous wording
We reported total loans of $1.42 billion as of March 31, 2025, an increase of $49.9 million, or 3.6%, from March 31, 2024. Total deposits were $1.55 billion as of March 31, 2025, a decrease of $28.9 million, or 1.8%, as compared to March 31, 2024.
Current wording
We reported total loans of $1.50 billion as of June 30, 2025, an increase of $145.3 million, or 10.7%, from June 30, 2024. Total deposits were $1.59 billion as of June 30, 2025, an increase of $112.8 million, or 7.6%, as compared to June 30, 2024.
Previous wording
Pre-tax net income was $13.7 million, a decrease of $1.2 million, or 7.9%, for the three months ended March 31, 2025 as compared to pre-tax net income of $14.9 million for the same period in 2024.
Current wording
Pre-tax net income was $14.7 million, a decrease of $0.5 million, or 3.6%, for the three months ended June 30, 2025 as compared to pre-tax net income of $15.3 million for the same period in 2024. Pre-tax net income was $28.4 million, a decrease of $1.7 million, or 5.7%, for the six months ended June 30, 2025 as compared to pre-tax net income of $30.1 million for the same period in 2024.
Previous wording
Return on average assets and return on average equity was 3.20% and 25.47%, respectively for the three months ended March 31, 2025, as compared to 3.40% and 33.97%, respectively, for the same period in 2024. Our efficiency ratio for the three months ended March 31, 2025 was 39.45% as compared to 38.29% for the same period in 2024.
Current wording
Return on average assets and return on average equity was 2.47% and 19.62%, respectively for the three months ended June 30, 2025, as compared to 2.74% and 25.02%, respectively, for the same period in 2024. Return on average assets and return on average equity was 2.44% and 19.42%, respectively for the six months ended June 30, 2025, as compared to 2.66% and 25.41%, respectively, for the same period in 2024. Our efficiency ratio for the three months ended June 30, 2025 was 39.95% as compared to 37.72% for the same period in 2024. Our efficiency ratio for the six months ended June 30, 2025 was 39.44% as compared to 37.63% for the same period in 2024.
Previous wording
The following table sets forth the major components of our noninterest income for the three months ended March 31, 2025 and 2024:
Current wording
The following tables set forth the major components of our noninterest income for the periods indicated:
Previous wording
The following table sets forth the major components of our noninterest expense for the three months ended March 31, 2025 and 2024.
Current wording
The following tables set forth the major components of our noninterest expense for the periods indicated:
Previous wording
Noninterest expense for the three months ended March 31, 2025 was $8.9 million compared to $9.1 million for the same period in 2024, a decrease of $253,000, or 2.8%.
Current wording
Noninterest expense for the three months ended June 30, 2025 was $9.7 million compared to $9.1 million for the same period in 2024, an increase of $590,000, or 6.5%.
Previous wording
Total assets increased $45.7 million, or 2.6%, to $1.79 billion as of March 31, 2025, compared to $1.74 billion as of December 31, 2024.
Current wording
Total assets increased $96.6 million, or 5.6%, to $1.84 billion as of June 30, 2025, compared to $1.74 billion as of December 31, 2024.
Previous wording
Our loans represent the largest portion of our earning assets. The quality and diversification of the loan portfolio is an important consideration when reviewing our financial condition. As of March 31, 2025, and December 31, 2024, our gross loans were $1.43 billion and $1.40 billion, respectively.
Current wording
Our loans represent the largest portion of our earning assets. The quality and diversification of the loan portfolio is an important consideration when reviewing our financial condition. As of June 30, 2025, and December 31, 2024, our gross loans were $1.50 billion and $1.40 billion, respectively.
Previous wording
Total deposits as of March 31, 2025 and December 31, 2024 were $1.55 billion and $1.52 billion, respectively.
Current wording
Total deposits as of June 30, 2025 and December 31, 2024 were $1.59 billion and $1.52 billion, respectively.
Previous wording
As of March 31, 2025, and December 31, 2024, brokered deposits were $334.2 million and $336.7 million, respectively.
Current wording
As of June 30, 2025, and December 31, 2024, brokered deposits were $371.5 million and $336.7 million, respectively.
Previous wording
Uninsured deposits are defined as the portion of deposit accounts in U.S. offices that exceed the FDIC insurance limit and amounts in any other uninsured investment or deposit account that are classified as deposits and are not subject to any federal or state deposit insurance regimes. Total uninsured deposits were $377.9 million and $354.2 million at March 31, 2025 and December 31, 2024, respectively, as calculated per regulatory guidance. These amounts were approximately 24.4% and 23.4% of deposits at March 31, 2025 and December 31, 2024, respectively.
Current wording
Uninsured deposits are defined as the portion of deposit accounts in U.S. offices that exceed the FDIC insurance limit and amounts in any other uninsured investment or deposit account that are classified as deposits and are not subject to any federal or state deposit insurance regimes. Total uninsured deposits were $380.3 million and $354.2 million at June 30, 2025 and December 31, 2024, respectively, as calculated per regulatory guidance. These amounts were approximately 24.0% and 23.4% of deposits at June 30, 2025 and December 31, 2024, respectively.
Previous wording
As of March 31, 2025, we had no unsecured fed funds lines with correspondent depository institutions, with no corresponding amounts advanced. In addition, based on the values of loans pledged as collateral, we had borrowing availability with the FHLB of $206.8 million as of March 31, 2025 and $190.9 million as of December 31, 2024, and we had access to approximately $296.7 million in liquidity with the Federal Reserve Bank as of March 31, 2025 and $336.1 million as of December 31, 2024.
Current wording
As of June 30, 2025, we had no unsecured fed funds lines with correspondent depository institutions, with no corresponding amounts advanced. In addition, based on the values of loans pledged as collateral, we had borrowing availability with the FHLB of $223.5 million as of June 30, 2025 and $190.9 million as of December 31, 2024, and we had access to approximately $296.3 million in liquidity with the Federal Reserve Bank as of June 30, 2025 and $336.1 million as of December 31, 2024.
Previous wording
The Bank is subject to various regulatory capital requirements administered by the federal and state banking regulators. Failure to meet regulatory capital requirements may result in certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for “prompt corrective action” (described below), We must meet specific capital guidelines that involve quantitative measures of our assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting policies. The capital amounts and classifications are subject to qualitative judgments by the federal banking regulators about components, risk weightings and other factors. Qualitative measures established by regulation to ensure capital adequacy require us to maintain minimum amounts and ratios of Common Equity Tier 1 (“CET1”) capital, Tier 1 capital, total capital to risk-weighted assets, and Tier 1 capital to average consolidated assets, referred to as the “leverage ratio.”
Current wording
The Bank is subject to various regulatory capital requirements administered by the federal and state banking regulators. Failure to meet regulatory capital requirements may result in certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for “prompt corrective action” (described below), We must meet specific capital guidelines that involve quantitative measures of our assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting policies. The capital amounts and classifications are subject to qualitative judgments by the federal banking regulators about components, risk weightings and other factors. Qualitative measures established by regulation to ensure capital adequacy require us to maintain minimum amounts and ratios of CET1 capital, Tier 1 capital, total capital to risk-weighted assets, and Tier 1 capital to average consolidated assets, referred to as the “leverage ratio.”
Previous wording
Shareholders’ equity provides a source of permanent funding, allows for future growth and provides a cushion to withstand unforeseen adverse developments. Total shareholders’ equity increased $8.4 million as of March 31, 2025 to $221.7 million, compared to $213.2 million as of December 31, 2024.
Current wording
Shareholders’ equity provides a source of permanent funding, allows for future growth and provides a cushion to withstand unforeseen adverse developments. Total shareholders’ equity increased $18.7 million as of June 30, 2025 to $231.9 million, compared to $213.2 million as of December 31, 2024.
Previous wording
Intangible assets totaled $846,000 and goodwill, net of accumulated amortization, totaled $11.2 million as of March 31, 2025, compared to intangible assets of $878,000 and goodwill of $8.5 million as of December 31, 2024.
Current wording
Intangible assets totaled $815,000 and goodwill, net of accumulated amortization, totaled $11.2 million as of June 30, 2025, compared to intangible assets of $878,000 and goodwill of $8.5 million as of December 31, 2024.