Bank7 Corp. · NASDAQ:BSVN
Bank7 — FY2019 Earnings Presentation
16 slides from Bank7's earnings presentation, Jan 30, 2020
Slide 1: 4Q and Full Year 2019 Earnings Release
4Q AND FULL YEAR 2019 EARNINGS RELEASE January 30, 2020
Slide 2: 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 December 31, December 31, $ Change % Change 20
Slide 3: Fourth Quarter & Full Year Accomplishments
Fourth Quarter & Full Year Accomplishments • The Company ended the year with $866.4 million in total assets, $707.3 million in total loans, and $757.5 million in total deposits. • Changes from 2018 to 2019: All-time Highs & - Total assets increased $95.9 million, or 12.4% Robust Growth - Total loans
Slide 4: Bank7 Corp. Key Statistics
Bank7 Corp. Key Statistics For the Year Ended Total Assets December 31, 2019 $866.4 Balance Sheet $770.5 Total assets $866.4 $703.6 Total loans 707.3 $613.8 Total deposits 757.5 $563.5 Noninterest-bearing deposits 219.2 Tangible shareholders' equity (1) 98.3 (2)(3) Profitability Pro Form a Net Incom
Slide 5: 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 (656,925 shares) to the Company. Subsequently, the Company immediately issued those shares to certain executive officers, which was charged a
Slide 6: 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 for the year were 2.51% and 20.7%, respectively. • We have mai
Slide 7: Balance Sheet and Earnings Growth
Balance Sheet and Earnings Growth • For the year, tangible book value per share grew by $1.29, or 15.2%. • YOY balance sheet growth remains strong, highlighted by 17.9% of loan growth, deposit growth of 12.1%, 12.4% total asset growth and 13.2% growth in total shareholders’ equity. • Excluding the o
Slide 8: 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% 5.25% 5.35% 5.16% 5.05% 1.28% 0.71% 0.57% 0.62% 0.45% 0.79% 4.78% 4.78% 4.63% 4.59% 4.60% 4.37% 2015 2016 2017 2018 2019 Standalone Q4 2019 Net In
Slide 9: Asset Quality
Asset Quality Nonperforming Assets to Loans and OREO 1.10% • Asset quality remains strong, our quality underwriting and disciplined lending practices continue to produce low levels of nonperforming assets. 0.45% 0.45% 0.47% 0.35% • We continue to maintain a strong loan 2015 2016 2017 2018 2019 loss
Slide 10: Diversified Loan Portfolio
Diversified Loan Portfolio Gross Loan Portfolio Composition by Purpose Type Agricultural Non- Agricultural Farmland Farmland $24.9 Consumer $33.0 3.5% $11.8 4.7% Hospitality construction 1.7% $11.3 Commercial and 1.6% Commercial industrial construction $158.6 $26.9 22.4% 3.8% 1-4 family construction
Slide 11: Deposit Composition
Deposit Composition Commentary Deposit Composition as of December 31, 2019 NOW deposits $112.4 • 84.7% of our loan customers also had a deposit relationship 14.8% with us as of December 31, 2019. Money Markets Core Deposits(1) Noninterest- bearing demand $150.6 19.9% $219.2 • Total organic core depo
Slide 12: Appendix
IBAN/] Appendix
Slide 13: Bank7 Corp. Financials
Bank7 Corp. Financials For the Year Ended December 31, 2019 2019 2018 2017 2016 2015 (Dollars in thousands, except per share data) (3) Pro Forma Income Statement Data: Total interest income $ 51,709 $ 46,800 $ 42,870 $ 33,153 $ 28,361 Total interest expense 9,516 7,168 4,739 3,303 2,504 Provision fo
Slide 14: Bank7 Corp. Financials
Bank7 Corp. Financials (Dollars in thousands, except per share data) For the Year Ended December 31, Performance Ratios: 2019 2019 2018 2017 2016 2015 Pro Forma(5) Return on average: Assets – Pre-tax 1.88% 3.36% 3.53% 3.62% 2.86% 2.75% Assets – C Corp (1) 1.03% 2.51% 2.75 2.17 1.78 1.65 Tangible com
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations For the Year Ended December 31, 2019 2018 2017 2016 2015 (Dollars in thousands, except per share data) Tangible Shareholders' Equity Total shareholders equity $ 100,126 $ 88,466 $ 69,176 $ 55,136 $ 45,314 Goodwill and other intangibles (1,789) (1,995) (2,201) (2,407) (2,613)
Slide 16: 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