Bank7 Corp. · NASDAQ:BSVN
Bank7 — Q3 2019 Earnings Presentation
16 slides from Bank7's earnings presentation, Oct 30, 2019
Slide 1: Earnings Release
EARNINGS RELEASE October 30, 2019
Slide 2: Legal Information and Disclaimer
Legal Information and Disclaimer This presentation and oral statements made regarding the subject of this presentation contain forward-looking statements. These forward- looking statements are subject to significant uncertainties because they are based upon: the amount and timing of future changes i
Slide 3: Corporate Overview
Corporate Overview NASDAQ: BSVN • One of the Top Performing Community Banks in the United States(1) • Track Record of Strong Profitability and Expense Control • Intense Focus on Underwriting and Asset Quality • Scalable and Consistently Growing Platform September 30, September 30, $ Change % Change
Slide 4: Third Quarter Accomplishments
Third Quarter Accomplishments • The Company ended the quarter with $826.3 million in total assets, $674.6 million in total loans, $722.1 million in total deposits, and $98.8 million in tangible shareholders’ equity. YOY Balance • Changes from Q3 2018 to Q3 2019: - Total assets increased $75.2 millio
Slide 5: Bank7 Corp. key statistics as of Q3 2019
Bank7 Corp. key statistics as of Q3 2019 For the Nine Months Ended Total Assets September 30, 2019 $826.3 Balance Sheet $770.5 $751.1 Total assets $826.3 $703.6 Total loans 674.6 $613.8 Total deposits 722.1 $563.5 Noninterest-bearing deposits 200.8 Tangible shareholders' equity (1) 98.8 (2)(3) Profi
Slide 6: Pro Forma Net Income Reconciliation
Pro Forma Net Income Reconciliation • 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 ex
Slide 7: Strong Historical Performance
Strong Historical Performance • We continue to produce excellent returns on average assets (ROAA) and also on average tangible common equity (ROATCE). Excluding the one-time non-cash executive stock transaction, pro forma ROAA and ROATCE were 2.63% and 21.9%, respectively. • We have maintained our e
Slide 8: Balance Sheet and Earnings Growth
Balance Sheet and Earnings Growth • For the quarter, tangible book value per share grew by $0.28, or 2.9% (11.7% annualized). Excluding the one-time, non-cash executive stock transaction, tangible book value per share grew by $0.55, or 5.8% (23.1% annualized). • YOY balance sheet growth remains stro
Slide 9: Net Interest Margin
Net Interest Margin • Net interest margin excluding loan fee income continues to remain well within our historical range. Net Interest Margin 5.87% 5.49% 5.45% 5.25% 5.16% 5.27% 1.28% 0.72% 0.61% 0.42% 0.62% 0.79% 4.77% 4.84% 4.85% 4.63% 4.59% 4.37% 2015 2016 2017 2018 YTD 2019 Standalone Q3 2019 Ne
Slide 10: Asset Quality
Asset Quality Nonperforming Assets to Loans and OREO 1.10% • Asset quality remains strong. 0.80% 0.66% 0.64% • Quality underwriting and disciplined 0.45% 0.45% lending practices have led to low 0.35% nonperforming asset levels. 2015 2016 2017 2018 Q1 2019 Q2 2019 Q3 2019 • We continue to maintain a
Slide 11: Diversified Loan Portfolio
Diversified Loan Portfolio Gross Loan Portfolio Composition by Purpose Type Agricultural Farmland Agricultural Non- $27.3 Farmland 4.0% Consumer $31.3 $12.1 4.6% 1.8% Hospitality construction Commercial and $17.6 industrial 2.6% Commercial $135.8 construction 20.1% $21.2 3.1% 1-4 family construction
Slide 12: Deposit Composition
Deposit Composition Commentary Deposit Composition as of September 30, 2019 NOW deposits $99.7 • 84.0% of our loan customers also had a deposit relationship 13.8% with us as of September 30, 2019. Money Markets $134.4 Core Deposits(1) Noninterest- 18.6% bearing demand $200.8 • Total organic core dep
Slide 13: Appendix
Appendix 12
Slide 14: Bank7 Corp. Financials
Bank7 Corp. Financials As of or for the Nine Months Ended September 30, For the Year Ended December 31, 2019 2019 2018 2018 2017 2016 2015 (Dollars in thousands, except per share data) Pro Forma Income Statement Data: Total interest income $ 38,714 $ 34,216 $ 46,800 $ 42,870 $ 33,153 $ 28,361 Total
Slide 15: Bank7 Corp. Financials
Bank7 Corp. Financials As of or for the Nine Months Ended (Dollars in thousands, except per share data) September 30, For the Year Ended December 31, Performance Ratios: 2019 2019 2018 2018 2017 2016 2015 Pro Forma Return on average: Assets – Pre-tax 1.48% 3.50% 3.53% 3.53% 3.62% 2.86% 2.75% (1) Ass
Slide 16: Non-GAAP Reconciliations
Non-GAAP Reconciliations As of or for the Nine Months Ended September 30, For the Year Ended December 31, 2019 2018 2018 2017 2016 2015 (Dollars in thousands, except per share data) Tangible Shareholders' Equity Total shareholders equity $ 100,615 $ 82,765 $ 88,466 $ 69,176 $ 55,136 $ 45,314 Goodwil