Bank7 Corp. Announces 4Q and Full Year 2019 Earnings

OKLAHOMA CITY, Jan. 30, 2020 /PRNewswire/ -- Bank7 Corp. 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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