Bank7 Corp. · NASDAQ:BSVN
Bank7 — Q4 2024 Earnings Presentation
27 slides from Bank7's earnings presentation, Jan 16, 2025
Slide 1: Q4 and Full Year 2024 Earnings Release
BSVN Q4 and Full Year 2024 Earnings Release January 16, 2025 0
Slide 2: BSVN – Corporate Overview
BSVN – Corporate Overview Earnings Release: Q4 2024 and Full Year Consistently ranked by S & P Global Market Intelligence as one of the Top Performing Community Banks in the United States Quarterly Annual Q4 2024 Q3 2024 % Change 2024 2023 % Change Total assets $ 1,739,808 $ 1,740,442 -0.04% $ 1,739
Slide 3: Q4 and Full Year Overview
Q4 and Full Year Overview Earnings Release: Q4 2024 and Full Year Record Full Year EPS & Strong ROATCE Asset Quality & CRE ▪ EPS: ▪ NPLs to Total Loans of 0.55% ▪ Q4 - $1.16; full year - $4.84 ▪ Diverse CRE portfolio primarily located in the DFW and ▪ Results were achieved through core earnings with
Slide 4: Strength in Core Earnings
Strength in Core Earnings Earnings Release: Q4 2024 and Full Year PPE(1) 3.38% increase $70.0 $58.4 $60.4 $60.0 ■ Record PPE: $50.0 $43.9 $40.0 $35.1 ■ Full year PPE of $60.36 million, an increase of 3.38% $30.0 $31.2 as compared to 2023 $20.0 $10.0 $- ■ Record PPE was driven by: 2020 2021 2022 2023
Slide 5: Consistently Outperforming our Peer Group
Consistently Outperforming our Peer Group Earnings Release: Q4 2024 and Full Year PPE to Average Assets vs Peers 4.00% 3.50% 3.61% 3.00% 3.44% 3.46% 3.29% 2.50% 2.99% 2.00% 1.50% 1.50% 1.44% 1.47% 1.00% 1.17% 1.09% 0.50% 0.00% 2020 2021 2022 2023 Q3 2024 Peers BSVN Income Statement as a Percentage o
Slide 6: Consistent Top Performer
Consistent Top Performer Earnings Release: Q4 2024 and Full Year Return on Average Tangible Common Equity Return on Average Assets 5 year average: 21.4% 5 year average: 2.1% 30.00% 3.00% 2.65% 25.00% 23.92% 2.50% 25.00% 2.21% 2.03% 2.02% 19.14% 20.13% 18.57% 20.00% 2.00% 1.68% 15.00% 1.50% 10.00% 8.
Slide 7: Reliable and Rapid Capital Compounder
Reliable and Rapid Capital Compounder Earnings Release: Q4 2024 and Full Year Tangible Book Value Per Share(1) Diluted Earnings Per Share CAGR since 2018: 17.0% 58.69% Increase $25.00 $6.00 $21.71 $4.84 $5.00 $20.00 $17.49 $14.69 $4.00 $15.00 $12.93 $3.22 $3.05 $11.69 $3.00 $2.55 $9.78 $10.00 $8.49
Slide 8: BSVN Compared to All Major Exchange Traded Banks
BSVN Compared to All Major Exchange Traded Banks Earnings Release: Q4 2024 and Full Year BSVN’s TBVPS Since FYE 2018 $20.00 CAGR since 2018: 15.6% $17.49 Public Banks Median CAGR: 5.6%(1) $14.69 $15.00 $12.93 $11.69 $9.78 $10.00 $8.49 $5.00 $0.00 2018Y 2019Y 2020Y 2021Y 2022Y 2023Y Total Shareholder
Slide 9: Consistent Net Interest Margin
Consistent Net Interest Margin Earnings Release: Q4 2024 and Full Year ■ Net interest margin remains within our historical range due to disciplined loan pricing, a healthy amount of non-interest bearing deposits, and our properly matched balance sheet ■ The 50 basis point (bps) rate cuts during the
Slide 10: We Achieve a Steady Spread thru Various Rate Cycles
We Achieve a Steady Spread thru Various Rate Cycles Earnings Release: Q4 2024 and Full Year 9.00% 8.00% 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 1.00% 0.00% 2016 2017 2018 2019 2020 2021 2022 2023 2024 Yield on Loans(1) Cost of Funds BSVN Spread 10 Yr Treasury Yield Financial data calculated using annual
Slide 11: Asset Sensitivity Repricing and Liquidity
Asset Sensitivity Repricing and Liquidity Earnings Release: Q4 2024 and Full Year Asset Sensitivity Repricing Schedule < 1 year 1 to 2 years 2 to 3 years > 3 years Total Earning Assets: Cash and cash equivalents, and interest-bearing time deposits $ 240,915 $ - $ - $ - $ 240,915 (1) Gross Loans 1,17
Slide 12: Deposit Composition
Deposit Composition Earnings Release: Q4 2024 and Full Year CAGR since 2020: 13.0% $1,591.4 $1,515.5 $1,431.4 $1,217.5 $905.5 69.7% 69.9% 79.3% 72.8% 71.1% 27.2% 30.1% 30.3% 28.9% 20.7% 2020 2021 2022 2023 2024 1 Noninterest-bearing deposits Interest-bearing deposits Deposit Composition Money Market
Slide 13: Loan Portfolio Trends – Selected Categories
Loan Portfolio Trends – Selected Categories Earnings Release: Q4 2024 and Full Year Loan Portfolio Trends CAGR Since 2020: 8.9% $1,500 $1,399.0 $1,364.0 $1,273.6 $133.3 9.5% $1,300 $190.5 $182.8 $1,100 $1,031.0 $373.5 26.7% $334.6 $116.7 $900 $839.1 $327.6 $102.0 $245.1 $259.1 18.5% $700 $298.5 $204
Slide 14: Loan Portfolio Distribution
Loan Portfolio Distribution Earnings Release: Q4 2024 and Full Year Consumer $18.3 / 1.3% Agricultural Non-Farmland $29.1 / 2.1% Agricultural Farmland $48.8 / 3.5% Hospitality construction Commercial and industrial $0.5 / 0.0% $373.5 / 26.7% Commercial construction $106.8 / 7.6% 1-4 family construct
Slide 15: Diverse CRE Portfolio with Very Low Historical Losses
Diverse CRE Portfolio with Very Low Historical Losses Earnings Release: Q4 2024 and Full Year 1-4 Family - Commercial $121.0 / 15.2% Multifamily $15.8 / 2.0% ■ Diverse commercial real estate lending activity in Texas and Oklahoma with an Retail emphasis in the DFW, Oklahoma City, and $65.2 / 8.2% Tu
Slide 16: Hospitality Loan Portfolio – A Source of Strength
Hospitality Loan Portfolio – A Source of Strength Earnings Release: Q4 2024 and Full Year Hotel Portfolio by Class ■ No historical NCOs in the hospitality segment Midscale $142.35 / 54.9% ■ Blue collar portfolio that is well-protected by the “cycle-down” effect of a recession Upper Midscale $48.57 /
Slide 17: Strategic Growth in Dynamic Markets
Strategic Growth in Dynamic Markets Earnings Release: Q4 2024 and Full Year Total Assets CAGR Since 2014: 13.8% $1,771.7 $1,739.8 $1,800.0 $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
Slide 18: Earnings-driven Capital Shock-absorption
Earnings-driven Capital Shock-absorption Earnings Release: Q4 2024 and Full Year Earnings-driven cushion far exceeds regulatory capital minimums as illustrated over a two-year period, consistent with DFAST parameters(1) Total Shock Absorption Regulatory Minimum Q4 2024 Capital Excess Capital to Targ
Slide 19: Appendix
Appendix 18
Slide 20: Bank7 Corp. Financials
Bank7 Corp. Financials Earnings Release: Q4 2024 and Full Year For the Three Months Ended For the Year Ended December 31 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 2024 2023 2022 2021 2020 (Do llars in tho usands, except per share data) INCOME STATEMENT DATA Total interest inco
Slide 21: Bank7 Corp. Performance Ratios
Bank7 Corp. Performance Ratios Earnings Release: Q4 2024 and Full Year For the Three Months Ended For the Year Ended December 31 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 2024 2023 2022 2021 2020 (Do llars in tho usands, except per share data) RETURN ON AVERAGE(1) Assets 2.56%
Slide 22: Non-GAAP Reconciliations
Non-GAAP Reconciliations Earnings Release: Q4 2024 and Full Year For the Three Months Ended For the Year Ended December 31 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 2024 2023 2022 2021 2020 (Do llars in tho usands, except per share data) TANGIBLE SHAREHOLDERS' EQUITY Total sha
Slide 23: Non-GAAP Reconciliations -- Continued
Non-GAAP Reconciliations -- Continued Earnings Release: Q4 2024 and Full Year For the Three Months Ended For the Year Ended December 31 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 2024 2023 2022 2021 2020 (Do llars in tho usands, except per share data) PRE-PROVISION PRE-TAX EARN
Slide 24: Oil & Gas Asset Recap
Oil & Gas Asset Recap Earnings Release: Q4 2024 and Full Year Cash Flow Recap (Do llars in tho usands, except per share data) OIL AND GAS ASSET INVESTMENT Initial cash outlay (in Q4 2023) $ (16,800) Gross cash receipts: Q4 2023 2,195 Q1 2024 2,678 Q2 2024 1,949 Q3 2024 2,085 Q4 2024 1,365 Cumulative
Slide 25: Investment Portfolio
Investment Portfolio Earnings Release: Q4 2024 and Full Year Available-for-Sale Securities Portfolio Municipal - Tax Exempt $12.44 / 20.8% Municipal - Taxable $7.29 / 12.2% U.S. Treasuries $5.32 / 8.9% Corporate $4.63 / 7.7% ■ Weighted Average Duration: 4.1 Years U.S. Federal Agencies $0.06 / 0.1% ■
Slide 26: Legal Information and Distribution
Legal Information and Distribution Earnings Release: Q4 2024 and Full Year 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:
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