Bank7 Corp.
For the period ended Sep 30, 2025. Filed Nov 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.
Sep 30, 2025 · Filed Nov 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 2025-06-30; filed 2025-08-07.
0001140361-25-029593
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-07.
0001140361-25-041162
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 105 previous paragraphs and 103 current paragraphs.
81 unchanged; 17 reworded; 5 added; 6 removed; 1 previous and 0 current paragraphs rearranged.
Tables are not compared: 42 previous and 44 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 (5)
Current report
The provision for credit losses for the three months ended September 30, 2025 increased $0.7 million, or 100.0%, as compared to the same period in 2024. The provision for credit losses for the nine months ended September 30, 2025 increased $0.7 million, or 100.0%, as compared to the same period in 2024. The provision expense for the three and nine months ended September 30, 2025 was related to loan growth in the third quarter of 2025.
Current report
For the third quarter of 2025 compared to the third quarter of 2024:
Current report
For the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024:
Current report
Noninterest expense for the three months ended September 30,2025 was $10.4 million compared to $9.4 million for the same period in 2024, an increase of $1.0 million, or 10.1%.
Current report
Noninterest expense for the nine months ended September 30, 2025 was$29.0 million comparedto $27.7 million for the same period in 2024, an increase of $1.3 million, or 4.7%.
Removed paragraphs (6)
Previous report
For the second quarter of 2025 compared to the second quarter of 2024:
Previous report
*Yield is on a taxable-equivalent basis using 21% tax rate
Previous report
For the six months ended June 30, 2025 compared to the six months ended June 30, 2024:
Previous report
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 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%.
Previous report
(1) There are no loans modified to borrowers experiencing financial difficulty included in nonaccrual loans as of June 30, 2025 and December 31, 2024, respectively.
Reworded paragraphs (17)
Previous 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.
Current wording
We reported total loans of $1.53 billion as of September 30, 2025, an increase of $96.7 million, or 6.7%, from September 30, 2024. Total deposits were $1.64 billion as of September 30, 2025, an increaseof$112.6 million, or 7.4%, as compared to September 30, 2024.
Previous 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.
Current wording
Pre-tax net incomewas $14.2 million, a decrease of $1.3 million, or 8.5%, for the three months ended September 30, 2025 as compared to pre-tax net income of $15.5 million for the same period in 2024. Pre-tax net income was $42.6 million, a decrease of $3.0 million, or 6.6%, for the nine months ended September 30, 2025 as compared to pre-tax net income of $45.6 million for the same period in 2024.
Previous 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.
Current wording
Return on average assets and return on average equity was 2.33% and 18.11%, respectively for the three months ended September 30, 2025, as compared to 2.73% and 23.67%, respectively, for the same period in 2024. Return on average assets and return on average equity was 2.41% and 18.96%, respectively for the nine months ended September 30, 2025, as compared to 2.68% and 24.79%, respectively, for the same period in 2024. Our efficiency ratio for the three months ended September 30, 2025 was 41.12% as compared to 37.87% for the same period in 2024. Our efficiency ratio for the nine months ended September 30, 2025 was 39.94% as compared to 37.58% for the same period in 2024.
Previous wording
For the first six months of 2025 compared to the same period in 2024:
Current wording
For the first nine months of 2025 compared to the same period in 2024:
Previous wording
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 wording
Noninterest income for the three months ended September 30, 2025 was $2.2 million comparedto $3.7 million for the same period in 2024, adecrease of$1.5 million, or 39.9%. Thedecrease was primarily attributable to a decrease in income related to operations of oil and gas assets, see Note 2 of the financial statements.
Previous wording
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 wording
Noninterest income for the nine months ended September 30, 2025 was $6.7 million comparedto $8.9 million for the same period in 2024, adecreaseof$2.2 million, or 24.7%. The decrease was primarily attributable to a decrease in income related to operations of oil and gas assets, see Note 2 of the financial statements.
Previous 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.
Current wording
Total assets increased $151.6 million, or 8.7%, to $1.89 billion as of September 30, 2025, comparedto $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 June 30, 2025, and December 31, 2024, our gross loans were $1.50 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 September 30, 2025, and December 31, 2024, our gross loans were $1.54 billion and $1.40 billion, respectively.
Previous wording
The allowance was $18.2 million at June 30, 2025, compared to $17.9 million at December 31, 2024.
Current wording
Theallowance was $19.4 million at September 30, 2025, compared to $17.9 million at December 31, 2024.
Previous wording
Total deposits as of June 30, 2025 and December 31, 2024 were $1.59 billion and $1.52 billion, respectively.
Current wording
Total deposits as of September 30, 2025 and December 31, 2024 were $1.64 billion and $1.52 billion, respectively.
Previous wording
As of June 30, 2025, and December 31, 2024, brokered deposits were $371.5 million and $336.7 million, respectively.
Current wording
As of September 30, 2025, and December 31, 2024, brokered deposits were $387.6 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 $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.
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 $401.8 million and $354.2 million at September 30, 2025 and December 31, 2024, respectively, as calculated per regulatory guidance. These amounts were approximately 24.6% and 23.4% of deposits at September 30, 2025 and December 31, 2024, respectively.
Previous 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.
Current wording
As of September 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 FHLBof $217.6 million as of September 30,2025 and $190.9 million as of December 31, 2024, and we had access toapproximately $298.4 million in liquidity with the Federal Reserve Bank as of September 30, 2025 and $336.1 million as of December 31, 2024.
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 $18.7 million as of June 30, 2025 to $231.9 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 $28.5 million as of September 30, 2025 to $241.7 million, compared to $213.2 million as of December 31, 2024.
Previous 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.
Current wording
Intangible assets totaled $784,000 and goodwill, net of accumulated amortization, totaled $11.2 million as of September 30, 2025, compared to intangible assets of $878,000 and goodwill of $8.5 million as of December 31, 2024.
Previous wording
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.
Current wording
The Company’s effective tax ratewas 23.6% for the third quarter of 2025, which was consistent with the rate of 24.2% 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.
Previous wording
ASC Topic 820, Fair Value Measurement, defines fair value as the price that would be received to sell a financial asset or paid to transfer a financial liability in an orderly transaction between market participants at the measurement date. The degree of management judgment involved in determining the fair value of assets and liabilities is dependent upon the availability of quoted market prices or observable market parameters. For financial instruments that trade actively and have quoted market prices or observable market parameters, there is minimal subjectivity involved in measuring fair value. When observable market prices and parameters are not available, management judgment is necessary to estimate fair value. In addition, changes in market conditions may reduce the availability of quoted prices or the observable date.
Current wording
ASC Topic 820, Fair Value Measurement, defines fair value as the price that would be received to sell a financial asset or paid to transfer a financial liability in an orderly transaction between market participants at the measurement date. The degree of management judgment involved in determining the fair value of assets and liabilities is dependent upon the availability of quoted market prices or observable market parameters. For financial instruments that trade actively and have quoted market prices or observable market parameters, there is minimal subjectivity involved in measuring fair value. When observable market prices and parameters are not available, management judgment is necessary to estimate fair value. In addition, changes in market conditions may reduce the availability of quoted prices or the observable date. Debt securities that are being held for indefinite periods of time and are not intended to sell, are classified as available for sale and are stated at estimated fair value. Unrealized gains or losses on debt securities available for sale are reported as a component of stockholders’ equity and comprehensive income, net of income tax.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
Debt securities that are being held for indefinite periods of time and are not intended to sell, are classified as available for sale and are stated at estimated fair value. Unrealized gains or losses on debt securities available for sale are reported as a component of stockholders’ equity and comprehensive income, net of income tax.