Bank7 Corp. · NASDAQ:BSVN
Bank7 — Q1 2023 Earnings Presentation
25 slides from Bank7's earnings presentation, Apr 27, 2023
Slide 1: BSVN Q1 2023 Earnings Release
BSVN Q1 2023 Earnings Release APRIL 27, 2023 0
Slide 2: BSVN – Corporate Overview
BSVN – Corporate Overview Earnings Release: Q1 2023 Consistently ranked by S & P Global Market Intelligence as one of the Top Performing Community Banks in the United States Q1 2023 Q1 2022 % Change Q4 2022 % Change Total assets $ 1,660,542 $ 1,421,232 16.8% $ 1,584,169 4.8% Total loans 1,279,363 1,
Slide 3: Q1 Overview
Q1 Overview Earnings Release: Q1 2023 Record PPE, Net Income, and EPS Stable Quality Deposits For the entire quarter, deposits increased $62.26 million or Disciplined loan pricing combined with our consistent net 4.36%. During the month of March, total deposits increased interest margin and low effi
Slide 4: Liquidity and Asset Sensitivity
Liquidity and Asset Sensitivity Earnings Release: Q1 2023 Comparative Banking Industry Data Q1 2023 Q4 2022 Industry Metrics / Ratios (1) Bank7 Bank7 Average (1) Cash / Total Assets 10.98% 7.23% 4.76% Securities / Total Assets 10.49% 11.01% 19.63% HTM Securities / Total Assets 0.00% 0.00% 4.80% Adju
Slide 5: Uninsured Deposits
Uninsured Deposits Earnings Release: Q1 2023 Uninsured Deposits | Cash/Liquidity ■ Uninsured deposits total $422.22 million or 28.29%; however, after deductions for insider owned, and also collateralized deposits, our adjusted uninsured deposits are $289.32 million, which is 19.40% of total deposits
Slide 6: Deposit Growth & Composition
Deposit Growth & Composition Earnings Release: Q1 2023 Historical Deposit Growth CAGR since 2018: 20.5% $1,491.6 $1,429.3 $1,217.5 $905.5 $757.5 69.3% 71.5% $675.9 69.9% 72.8% 71.1% 70.2% 30.1% 30.7% 28.5% 29.8% 28.9% 27.2% 2018 2019 2020 2021 2022 Q1 2023 Noninterest-bearing deposits Interest-beari
Slide 7: Consistent Capital & EPS Growth
Consistent Capital & EPS Growth Earnings Release: Q1 2023 Tangible Book Value Per Share Diluted Earnings Per Share CAGR since 2018: 15.7% $18.00 $3.50 $3.22 $15.75 $16.00 $14.69 $3.00 $14.00 $12.93 $2.55 $11.69 $2.50 $12.00 $1.96 $2.05 $9.78 $10.00 $8.49 $2.00 Pro 14.3% increase $8.00 $1.50 Forma $1
Slide 8: Reliable Top Performer
Reliable Top Performer Earnings Release: Q1 2023 Return on Average Tangible Common Equity (1)(2) ■ ROATCE of 28.01% for Q1 2023, a 8.64% increase 5 year average: 22.1% 30.0% 26.4% 28.0% compared to Q4 2022 and a 34.24% increase compared 25.8% 25.0% 23.9% to Q1 2022 20.9% 20.1% 19.1% 20.0% Pro Forma
Slide 9: Strength in Core Earnings
Strength in Core Earnings Earnings Release: Q1 2023 PPE $50.0 $43.9 $45.0 $40.0 $35.0 $31.2 $35.1 ■ Record PPE of $13.03 million $26.8 $30.0 $26.0 $25.0 Pro Forma $20.0 $15.1 $15.1 $13.0 $13.0 $15.0 ■ Strong PPE was driven by: $10.0 $5.0 $0.0 ■ Disciplined loan pricing 1 2018 2019 2020 2021 2022 Q4
Slide 10: Strategic Growth in Dynamic Markets
Strategic Growth in Dynamic Markets Earnings Release: Q1 2023 Total Assets CAGR Since 2014: 15.6% $1,800.0 $1,660.5 $1,584.2 $1,600.0 $1,400.0 $1,350.5 $1,200.0 $1,016.7 $1,000.0 $866.4 $770.5 $800.0 $703.6 $613.8 $563.5 $600.0 $479.5 $400.0 $200.0 $- 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q1
Slide 11: Consistent Net Interest Margin
Consistent Net Interest Margin Earnings Release: Q1 2023 Net interest margin continued to show strength due to disciplined loan pricing, a healthy amount of non-interest bearing deposits, and our asset sensitive balance sheet ◼Loan Fee Income Contribution 5.49% 5.35% 5.25% 5.12% 5.14% 0.71% 5.01% 0.
Slide 12: Loan Portfolio Trends – Selected Categories
Loan Portfolio Trends – Selected Categories Earnings Release: Q1 2023 Loan Portfolio Trends CAGR Since 2018: 19.5% $1,400 $1,273.6 Gross Loans $1,282.0 $1,200 $182.8 $172.3 13.4% $1,031.0 $1,000 $116.7 $327.6 $327.1 25.5% $839.1 $800 $102.0 $245.1 $708.6 $601.8 $102.1 $204.3 $244.3 $272.0 21.2% $600
Slide 13: Loan Portfolio Distribution
Loan Portfolio Distribution Earnings Release: Q1 2023 Consumer, $18.83 / 1.5% Agricultural Non-Farmland, PPP Loans, $16.97 / 1.3% $2.64 / 0.2% Agricultural Farmland, $43.93 / 3.4% Hospitality construction, $28.45 / 2.2% Commercial and industrial, Commercial construction, $327.13 , 25.5% $47.19 / 3.7
Slide 14: Net Charge-Offs to Average Loans
Net Charge-Offs to Average Loans Earnings Release: Q1 2023 0.43% 0.43% 0.39% 0.07% 0.09% 0.06% 0.03% 0.00% 0.00% 0.01% 0.00% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q1 2023 Low historical charge-offs due to: ■ Disciplined approach to lending ■ Geographic footprint in high growth metros wit
Slide 15: Diverse CRE Portfolio
Diverse CRE Portfolio Earnings Release: Q1 2023 1-4 Family - Commercial $80,821.65 / 11.6% Multifamily $32,745.58 / 4.7% ■ Diverse commercial real estate lending Retail activity in Texas and Oklahoma with an $26,891.33 / 3.9% emphasis in the DFW, Oklahoma City and Office $21,195.31 / 3.0% Tulsa metr
Slide 16: Hospitality Loan Portfolio Detail
Hospitality Loan Portfolio Detail Earnings Release: Q1 2023 Hotel Portfolio by Class ■ No historical NCOs in the hospitality segment ■ Blue collar portfolio that is well-protected by the Midscale $165.37 / 60.8% “cycle-down” effect of a recession Upper Midscale $60.51 / 22.2% ■ Geographically concen
Slide 17: Earnings-driven Capital Shock-absorption
Earnings-driven Capital Shock-absorption Earnings Release: Q1 2023 Earnings-driven cushion far exceeds regulatory capital minimums as illustrated over a two-year period, consistent with DFAST parameters(1) Dollars are in thousands above assumes no cash dividends and is simply an illustration and sho
Slide 18: Appendix
Appendix 17
Slide 19: Bank7 Corp. Financials
Bank7 Corp. Financials Earnings Release: Q1 2023 For the Three Months Ended For the Year Ended December 31 Mar 31, 2023 Dec 31, 2022 Mar 31, 2022 2022 2021 2020 2019 2019 2018 (Dollars in tho usands, except per share data) Pro Forma(3) INCOME STATEMENT DATA Total interest income $ 27,380 $ 25,462 $
Slide 20: Bank7 Corp. Performance Ratios
Bank7 Corp. Performance Ratios Earnings Release: Q1 2023 For the Three Months Ended For the Year Ended December 31 Mar 31, 2023 Dec 31, 2022 Mar 31, 2022 2022 2021 2020 2019 2019 2018 (Dollars in tho usands, except per share data) Pro Forma(3) RETURN ON AVERAGE Assets(1) 2.43% 2.15% 1.89% 2.02% 2.21
Slide 21: Non-GAAP Reconciliations
Non-GAAP Reconciliations Earnings Release: Q1 2023 USE COL. X For the Three Months Ended For the Year Ended December 31 Mar 31, 2023 Dec 31, 2022 Jun 30, 2022 Mar 31, 2022 2022 2021 2020 2019 2018 (Do llars in tho usands, except per share data) TANGIBLE SHAREHOLDERS' EQUITY Total shareholders equity
Slide 22: Investment Portfolio
Investment Portfolio Earnings Release: Q1 2023 Available-for-Sale Securities Portfolio Corporate $4.77 / 2.8% Municipal - Taxable U.S. Federal Agencies $7.88 / 4.6% $0.16 / 0.1% Municipal - Tax Exempt $19.95 / 11.5% Mortgage Backed Securities $37.63 / 21.8% ■ Weighted Average Duration: 2.7 Years ■ B
Slide 23: 2019 Pro Forma Net Income Reconciliation
2019 Pro Forma Net Income Reconciliation Earnings Release: Q1 2023 On September 5, 2019, our largest shareholders, the Haines Family Trusts, contributed approximately 6.5% of their shares (656,925 shares) to the Company. Subsequently, the Company immediately issued those shares to certain executive
Slide 24: Legal Information and Distribution
Legal Information and Distribution Earnings Release: Q1 2023 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
Slide 25: 2h,
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