Q3 2026
Earnings Release
0
October 15, 2026Consistently ranked by S & P Global Market Intelligence as one of the Top Performing Community Banks in the United States | |||
Q3 2026 | Q2 2026 | % Change | |
Total assets | $ 2,006,986 | $ 1,914,327 | 4.8% |
Total loans | 1,632,888 | 1,597,350 | 2.2% |
Total deposits | 1,721,058 | 1,637,803 | 5.1% |
Net income | 10,203 | 8,346 | 22.3% |
Pre-provision pre-tax earnings(1) | 13,620 | 11,015 | 23.6% |
Diluted Earnings per share | 1.06 | 0.87 | 21.8% |
Net interest margin, ex. loan fees(1) | 4.38% | 4.53% | -3.3% |
ROAA | 2.13% | 1.80% | 18.3% |
Adjusted Core(2) Earnings | Q3 2026 | Q2 2026 | % Change |
Net income | 10,719 | 10,183 | 5.3% |
Pre-provision pre-tax earnings(1) | 14,309 | 13,464 | 6.3% |
Diluted Earnings per share | 1.11 | 1.06 | 4.7% |
Consistently produce top tier earnings and ROATCE (3)
Proven ability to maintain a healthy net interest margin through various interest rate cycles
Abundant liquidity and a properly matched balance sheet
Disciplined credit culture that adheres to our comprehensive risk management practices
High level of capital provides comfort and flexibility
EPS: Strong performance not driven by share buybacks
Dividend Payout Ratio: 24.8%(4), which is lower than the average 34% pay out ratio for dividend-paying banks(5)
Shareholder alignment due to 55% insider ownership
Dollars in thousands, except per share data. All data as of September 30, 2026, unless indicated otherwise
Pre-provision pre-tax earnings ("PPE") and net interest margin excluding loan fees are non-GAAP financial measures. See appendix for reconciliation to their most comparable GAAP measure
Adjusted core are non-GAAP financial measures. See appendix for reconciliation to their most comparable GAAP measures
See slide 6 for the corresponding comparison between BSVN and peer group 1
For the rolling four quarters ended September 30, 2026
Exchange-traded banks nationwide; Source: S&P Global Market Intelligence. As of Q2 2026, the latest data available
BSVN - Corporate Overview
Earnings Release: Q3 2026
Solid loan growth from our healthy pipeline, despite significant payoffs
EPSր $1.06; core EPS of $1.11 Մ1Յ
PPEր $13.62 million; core PPE of $14.31 millionՄ1Յ
ROAAր 2.13%; core ROAA of 2.24%Մ1Յ
ROATCEր 15.60%; core ROATCE of 16.50%Մ1Յ
NIM (excluding loan fee income): 4.38%
Performance
Excellent Asset Quality | |
Tenured team of commercial bankers in dynamic markets | |
NCO: 4bps | |
NPAs/TL: 0.45% | |
ACL/NPLs: 260.80% | |
ACL/TL: 1.19% | |
Announced agreement to acquire Century Financial for
֧$137 million, extending the franchise into New Mexico and adding roughly $1.2 billion of legacy deposits
Regulatory and shareholder approval is in hand, expect to close on November 1, 2026. The combined organization will be approx. $3.3 billion in assets with projected EPS accretion of 25%֡Մ2Յ
Strategic Acquisition of Century Financial
Prudent Capital Management | |
Strong earnings, low dividend payout ratio, no debt, no | |
HTM securities | |
Significantly higher than the regulatory "well capitalized" | |
thresholds | |
RBCր 16.30% | |
CET1ր 15.17% | |
Tier 1 Leverage: 14.12% | |
TCE/TAր 13.12% | |
Dollars in thousands except per share data. All data as of September 30, 2026, unless indicated otherwise
2
Represents a non-GAAP financial measure. See appendix page 23 for reconciliation to its most comparable GAAP measure
Մ2Յ Based on the transaction assumptions in the Investor Presentation furnished as Exhibit 99.2 to the Company's Current Report on Form 8՞K filed with the SEC on September 17, 2026
Q3 Overview
Earnings Release: Q3 2026
Q2 2026 Q3 2026
2025
2024
2023
2022
2021
$10.0
$-
Core(2)
$14.3
Core(2)
$13.5
$40.0 $35.1
$30.0
$20.0
$43.9
$50.0
$57.5
$60.0
$60.4
$58.4
$70.0
PPE(1)
$11.0
$13.6
PPE was driven by:
Disciplined loan pricing
Consistent NIM
Expense controls
Noninterest expense to average assets
Assets / FTE Employee (Millions)
2022 2023 2024 2025 Q3 2026
5.00%
4.50%
4.00%
3.50%
3.00%
2.50%
2.00%
1.50%
1.00%
0.50%
0.00%
$-
$15.7
$15.7
$14.0
$13.7
$12.9
$4.0
$2.0
2.04%
2.14%
2.15%
1.98%
1.96%
$16.0
$14.0
$12.0
$10.0
$8.0
$6.0
Maximizing Our Employee Base
We achieve maximum productivity by:
Having fewer but higher quality bankers
Operating an efficient delivery system with a strict adherence to process
Dollars are in millions
3
Financial data is as of or for the twelve months ended December 31 of each respective year and as of or for the three months ended June 30, 2026 and September 30, 2026 Մ1Յ Pre-provision, pre-tax earnings ("PPE") is a non-GAAP financial measure. See appendix for reconciliation to its most comparable GAAP measure
Represents a non-GAAP financial measure. See appendix page 23 for reconciliation to its most comparable GAAP measure
2025 Q2 2026 Q3 2026
2024
2023
2022
2021
10.00%
5.00%
0.00%
13.30%
15.60%
15.00%
Core(1) Core(1)
16.45% 16.50%
18.57%
20.00%
19.47%
20.13%
23.92%
25.00%
25.00%
30.00%
5 year average: 21.4%
Return on Average Tangible Common Equity
2025 Q2 2026 Q3 2026
2024
2023
2022
2021
1.50%
1.00%
0.50%
0.00%
1.80%
2.13%
1.68%
2.00%
Core (1)
Core (1) 2.24%
2.20%
2.02%
2.21%
2.37%
2.50%
5 year average: 2.2%
2.65%
3.00%
Return on Average Assets
2025 Q2 2026 Q3 2026
2024
2023
2022
2021
20.00%
10.00%
0.00%
Core (2)
38.75%
30.00%
Core (2)
41.13%
37.90%
36.07%
40.00% 36.76%
41.60%
40.24%
39.29%
50.00%
51.78%
60.00%
Efficiency Ratio
5 year average: 38.1%
Performance ratios remain top-tier and within our historical ranges
Dollars in thousands
Financial data is as of or for the twelve months ended December 31 of each respective year and as of or for the three months ended June 30, 2026 and September 30, 2026
(1) Represents a non-GAAP financial measure. See appendix page 23 for reconciliation to its most comparable GAAP measure 4
Մ2Յ A non-GAAP measurement that excludes oil and gas non-interest expense of $Մ11Յ and acquisition related expense and consulting fees of $677
$5.00
$-
2018 2019 2020 2021 2022 2023 2024 2025 Q3 2026
Consistently strong earnings increased TBV despite three factors:
$0.85 per share paid for an all-cash acquisition in Q4 2021
$0.34 per share AOCI unrealized loss from investments
Paid ֧20% of earnings as cash dividends since IPO Մ$5.43 per share)
$8.49
$10.00
$9.78
$12.93
$11.69
$15.00
$14.69
$17.49
$20.00
$21.71
$25.00
$25.26
$27.49
$30.00
CAGR since 2018: 16.4%
Tangible Book Value Per Share(1)
$1.00
$-
2020 2021 2022 2023 2024 2025 Q2 2026 Q3 2026
EPS:
No share repurchases since 2020
$1.06
$0.87
$2.00
$2.05
$2.55
$3.00
$3.05
$3.22
$4.00
$4.50
$5.00
$4.84
$6.00
Diluted Earnings Per Share
YE 2018 | Q3 2026 | % Change | $ Change | ||
Total tangible shareholders' equity | $ 86,471 | $ 261,859 | 202.8% | $ 175,388 | |
Shares outstanding | 10,187.5 | 9,525.9 | -6.5% | (661.6) | |
Tangible book value per share | $ 8.49 | $ 27.49 | 223.9% | $ 19.00 | |
Cash dividends per share since IPO as a % of 2018 TBV per share | 64.0% | $ | 5.43 | ||
Overall Return: | 287.8% | $ 24.43 | |||
Dollars and shares in thousands, except per share data
Մ1Յ Tangible book value per share is a non-GAAP financial measure, and is calculated by dividing "Total tangible shareholders' equity" by "Shares outstanding". See appendix for reconciliation to its most 5
comparable GAAP measure
Income Statement as a Percentage of Average Assets2022 2023 2024 2025
Q2 2026(2)
Peer Group | Peer Group | Peer Group | Peer Group | Peer Group Median(1) | BSVN | |||||
Median(1) | BSVN | Median(1) | BSVN | Median(1) | BSVN | Median(1) | BSVN | |||
Net Interest Income | 3.20% | 4.74% | 3.02% | 4.89% | 2.93% | 5.00% | 3.23% | 4.83% | 3.47% | 4.72% |
Pre-provision pre-tax earnings | 1.46% | 2.99% | 1.21% | 3.46% | 1.09% | 3.50% | 1.37% | 3.16% | 1.61% | 2.37% |
Provision Expense | 0.08% | 0.31% | 0.08% | 1.25% | 0.07% | 0.00% | 0.12% | 0.04% | 0.09% | 0.00% |
Net Income | 1.07% | 2.02% | 0.86% | 1.68% | 0.78% | 2.65% | 0.94% | 2.37% | 1.11% | 1.80% |
ROATCE | 13.69% | 23.92% | 11.37% | 18.57% | 10.00% | 25.00% | 11.42% | 19.47% | 11.74% | 13.30% |
Net Interest Margin(3) | 3.44% | 4.82% | 3.26% | 4.97% | 3.13% | 5.11% | 3.46% | 4.94% | 3.66% | 4.81% |
Efficiency Ratio | 61.12% | 39.29% | 65.50% | 36.07% | 68.11% | 37.90% | 62.52% | 40.24% | 59.63% | 51.78% |
6
Մ1Յ Peer group is defined as exchange-traded banks nationwide with assets between $500mm-$5bn Մ121 banks); Source: S&P Global Market Intelligence Մ2Յ As of Q2 2026, the latest data available
Մ3Յ Includes loan fee income for comparability with peer data
Consistently Outperforming our Peer Group
Earnings Release: Q3 2026
PPE to Average Assets vs Peers
4.00%
3.50%
3.00%
3.46%
3.50%
2.50%
2.99%
3.16%
2.00%
2.37%
1.50%
1.00%
1.46%
1.61%
1.21%
1.37%
1.09%
0.50%
0.00%
2022
2023
2024
2025
Q2 2026
Peers
BSVN
$30.00
$25.00
$20.00
BSVN's TBVPS(1) Since FYE 2018$21.71
CAGR since 2018: 16.8%
Public Banks Median CAGRր 6.7%Մ1Յ
A
$14.69
$17.49
$25.26
$15.00
$10.00
$8.49
$9.78
$11.69
$12.93
$5.00
$0.00
2018Y 2019Y 2020Y 2021Y 2022Y 2023Y 2024Y 2025Y
300.0%
250.0%
200.0%
150.0%
Total Shareholder Return Since BSVN's IPO (9/2018)BSVN: 254.3%
192.8%
Outperformance
100.0%
50.0%
Median: 61.4%
0.0%
$100 invested in BSVN since IPO would be worth $354.26 now
$100 invested in an index of all public banks since BSVN's IPO would be worth $161.42 now
(50.0%)
(100.0%)
9/20/2018 9/20/2019 9/20/2020 9/20/2021 9/20/2022 9/20/2023 9/20/2024 9/20/2025 9/20/2026
BSVN Public Banks Median (2)
7
Source: S&P Global Market Intelligence and FactSet; Market data as of 9/30/2026 Total shareholder return includes the reinvestment of dividends
Մ1Յ Tangible book value per share is a non-GAAP financial measure. See appendix for reconciliation to its most comparable GAAP measure Մ2Յ Public banks include all major exchange-traded banks nationwide Մ291 banks)
- Net interest margin remains within our historical range, and is driven by disciplined loan pricing that is funded by a broad and deep funding base
0.37%
0.35%
5.12%
0.74%
4.82%
4.97% 5.11% 4.94%
0.34%
4.81% 4.77%
0.44%
0.28%
0.39%
4.38%
4.38%
4.60%
4.75%
4.61%
4.53%
4.38%
2021 2022 2023 2024 2025 Q2 2026 Q3 2026
Loan Fee Income ContributionFinancial data is as of or for the twelve months ended December 31 of each respective year and as of or for the three months ended June 30, 2026 and September 30, 2026 8
Net interest margin (excluding loan fee income) is a non-GAAP financial measure, see Appendix for reconciliation to the most comparable GAAP measure for this metric
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 2025 Q3 2026
Yield on Loans(1)
Cost of Funds
BSVN Spread
10 Yr Treasury Yield
Financial data calculated using annual averages 9
Մ1Յ Excluding loan fee income
Cash and cash equivalents, and interest-bearing time deposits | $ 277,176 | $ - | $ - | $ - | $ 277,176 |
Gross Loans | Մ1Յ 1,506,824 | 53,982 | 24,987 | 50,141 | 1,635,934 |
Securities | 7,467 | 5,701 | 4,309 | 30,062 | 47,539 |
Total | $ 1,791,467 | $ 59,683 | $ 29,296 | $ 80,203 | $ 1,960,649 |
% of Total | 91.38% | 3.04% | 1.49% | 4.09% | 100.00% |
Uninsured Deposits | Cash/Liquidity
Q3 2026
Uninsured Deposits | $ 385,610 |
Less: Related Party Deposits | (54,343) |
Less: Collateralized Deposits | (14,947) |
Adjusted Uninsured Deposits | $ 316,320 |
Q3 2026 | |
Cash and cash equivalents, and interest-bearing time deposits | $ 277,176 |
Undrawn Lines-of-Credit | 518,514 |
Unpledged Securities | 30,309 |
Cash/Available Liquidity | $ 825,999 |
Uninsured deposits total $385.61 million (22.41% of total). Adjusted for insider and collateralized deposits, uninsured deposits are $316.32 million (18.38% of total)
With $826.00 million in cash, securities, and undrawn lines of credit, we have 2.61x coverage of adjusted uninsured deposits
Dollars in thousands, all data as of September 30, 2026, unless indicated otherwise 10
Մ1Յ $1.22 billion of gross loans reprice daily
Asset Sensitivity Repricing and Liquidity
Earnings Release: Q3 2026
Asset Sensitivity Repricing Schedule
< 1 year
1 to 2 years
2 to 3 years
> 3 years
Total
Earning Assets:
30.1% | 30.7% | 30.3% | 20.7% | 20.1% | 19.1% |
2021 | 2022 | 2023 Noninterest-bearing deposits | 2024 Interest-bearing deposits | 2025 | Q3 2026 |
Deposit Composition
NOW deposits
$733.8 / 42.6%
Money Markets
$281.3 / 16.3%
Savings
$84.7 / 4.9%
Time deposits ֛ $250K
$190.1 / 11.0%
Noninterest-bearing demand
$328.1 / 19.1%
Time deposits > $250K
$103.0 / 6.0%
CAGR since 2021: 7.6%
$1,700.8
$1,721.1
$1,591.4
$1,429.3
$1,515.5
$1,217.5
69.9%
69.3%
79.3%
69.7%
80.9%
79.9%
Dollars in millions, all data as of September 30, 2026, unless indicated otherwise
Loan Portfolio Trends CAGR Since 2021ր 10.2%$1,700
$1,500
$1,300
$1,100
$900
$700
$500
$300
$100
-$100
$1,609.4 $1,635.9
$156.7 (9.7%) | $124.6 (7.6%) | |||||||||||||||
$1,364.0 $1,399.0 | $411.7 (25.2%) | |||||||||||||||
$410.7 (25.5%) | ||||||||||||||||
$1,273.6 | $190.5 (14.0%) | $133.3 (9.5%) | ||||||||||||||
$182.8 (14.4%) | $373.5 (26.7%) | |||||||||||||||
$334.6 (24.5%) | ||||||||||||||||
$1,031.0 | ||||||||||||||||
$327.6 (25.7%) | $316.1 (19.3%) | |||||||||||||||
$310.5 (19.3%) | ||||||||||||||||
$116.7 (11.3%) | ||||||||||||||||
$839.1 | ||||||||||||||||
$245.1 (23.8%) | $259.1 (18.5%) | |||||||||||||||
$708.6 | $102.0 (12.2%) | $298.5 (21.9%) | ||||||||||||||
$244.3 (19.2%) | $783.5 (47.9%) | |||||||||||||||
$204.3 (24.4%) | $731.5 (45.5%) | |||||||||||||||
$102.1 (14.4%) | ||||||||||||||||
$199.9 (19.4%) | ||||||||||||||||
$158.6 (22.4%) | $633.1 (45.3%) | |||||||||||||||
$194.0 (23.1%) | $540.4 (39.6%) | |||||||||||||||
$518.9 (40.7%) | ||||||||||||||||
$167.0 (23.6%) | $469.3 (45.5%) | |||||||||||||||
$338.8 (40.4%) | ||||||||||||||||
$280.8 (39.6%) | ||||||||||||||||
2019 2020 2021 2022 2023 2024 2025 Q3 2026
Other(1) Hospitality C&I EnergyDollars in millions 12
Մ1Յ No single loan category within 'Other' exceeds 10% of the total loan portfolio
Commercial and industrial
$411.7 / 25.2%
Consumer
$14.0 / 0.9%
Agricultural Non-Farmland
$33.5 / 2.0%
Agricultural Farmland
$39.4 / 2.4%
Hospitality construction
$3.0 / 0.2%
Commercial construction
$178.1 / 10.9%
Energy - exploration & production
$65.2 / 4.0%
Energy - mineral / royalty interest
$7.0 / 0.4%
Energy - service companies
$49.6 / 3.0%
Energy - midstream
$2.8 / 0.2%
Non-owner-occupied CRE
$180.2 / 11.0%
1-4 family construction
$67.8 / 4.1%
1-4 family (commercial purpose)
$135.5 / 8.3%
Owner-occupied CRE
$135.0 / 8.3%
Hospitality - operational properties CRE
$313.1 / 19.1%
Loan Portfolio Selected Categories | Industry | Q3 2026 | % of Total Loans | Q2 2026 | % of Total Loans |
Commercial & Industrial | $ 411.73 | 25.17% | $ 413.14 | 25.82% | |
Hospitality | 316.10 | 19.32% | 290.90 | 18.18% | |
Energy | 124.60 | 7.62% | 130.20 | 8.14% | |
Dollars are in millions. Data as of September 30, 2026
1՞4 Family ՞ Commercial
Retail
$71.9 / 7.1%
Office
$56.5 / 5.6%
Restaurant
$10.2 / 1.0%
Industrial
$31.6 / 3.1%
Hospitality
$313.1 / 30.9%
Other
$1.4 / 0.1%
Other CRE
$5.1 / 0.5%
Industrial
$73.6 / 7.3%
Raw Land
$31.1 / 3.1% Office
$29.6 / 2.9%
Restaurant Retail
$1.5 / 0.2% $11.6 / 1.1%
Restaurant
Office $0.7 / 0.1%
$20.3 / 2.0%
Retail
$39.8 / 3.9%
OWNER OCCUPIED
Other
$19.6 / 1.9%
Industrial
$4.9 / 0.5%
Multifamily
$20.3 / 2.0%
Hospitality
$3.0 / 0.3%
Residential Lots - Existing
$8.8 / 0.9%
Residential Lots ՞ Construction
$16.2 / 1.6%
1-4 Family
$67.8 / 6.7%
Commercial Lots - Construction
$10.9 / 1.1%
Commercial Lots ՞ Existing
$19.2 / 1.9%
CONSTRUCTION
Diverse commercial real estate lending activity in Texas and Oklahoma with an emphasis in the DFW, Oklahoma City, and Tulsa metros
No office exposure to downtown metropolitan locations
Construction lending activity primarily in Oklahoma City and the Dallas metroplex with an emphasis on entry level homes with established homebuilders
Limited lot and development lending activity
Hospitality niche managed by seasoned professionals with proven track record through various economic cycles
$135.5 / 13.4%
Multifamily
$8.7 / 0.9%
14Dollars are in millions. Data as of September 30, 2026
Hotel Portfolio by Class
Midscale
$186.37 / 59.0%
Upper Midscale
$29.60 / 9.4%
Upscale
$35.67 / 11.3%
Economy
$64.48 / 20.4%
Blue collar portfolio that is well-protected by the "cycle-down" effect of a recession
Geographically concentrated in TX (68%) and other markets with favorable economic conditions
Loans personally guaranteed by experienced owner/operators with operating history spanning decades of economic cycles
Diversified lending to many reputable brands
Hotel Portfolio by Location
Hotel Portfolio by Location
Outstanding Balance
0%
20%
40%
60%
80%
100%
Dallas / Ft. Worth Metro Area Other Texas Metros Other
58.97% 8
.94%
32.09%
Consistent underwriting fundamentals with disciplined equity requirements, debt coverage ratio requirements, personal recourse, and rapid amortization
Average loan size of $6.26 million
Average LTV of 56%
Dollars are in millions. Data as of September 30, 2026
Total Assets CAGR Since 2014: 13.0% $2,200.0 $1,963.6 $2,007.0 $1,771.7 $1,739.8 $1,700.0 $1,584.2 $1,350.5 $1,200.0 $1,016.7 $866.4 $703.6 $770.5 $700.0 $563.5 $613.8 $479.5 $200.0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Q3 2026 $(300.0) | ||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Q3 2026 |
Kansas acquisition
LPO opened in Irving, TX
LPO opened in Tulsa, OK, full-service branch opened in Frisco, TX
Oklahoma acquisition
Completed IPO
Full-service branch opened in Tulsa, OK
Full-service branch opened in Irving, TX
Oklahoma mortgage acquisition
Announced New Mexico acquisition
Dollars are in millions
Earnings-driven cushion far exceeds regulatory capital minimums as illustrated over a two-year period, consistent with DFAST parameters(1)
Regulatory Minimum Target Ratios | Q3 2026 Capital Ratios | Excess Capital to Target Excess Capital to Target Ratio Expressed in %(2) Ratio Expressed in $(3) | Add: PPE Cushion(4) | Total Shock Absorption Ability Prior to Hitting Reg Minimums | ||||
Tier 1 Leverage | 5.00% | 14.12% | 182.44% | $ 172,434 | + | $ 109,230 | = | $ 281,664 |
CET1 | 7.00% | 15.17% | 116.71% | $ 142,866 | + | $ 109,230 | = | $ 252,096 |
Tier 1 Risk Based Capital | 8.50% | 15.17% | 78.47% | $ 116,635 | + | $ 109,230 | = | $ 225,865 |
Total Risk Based Capital | 10.50% | 16.30% | 55.27% | $ 101,492 | + | $ 109,230 | = | $ 210,722 |
Dollars are in thousands
above assumes no cash dividends and is simply an illustration and should not be considered a projection or forward-looking guidance of any kind
DFAST = Dodd-Frank Act Stress Test
Excess capital to target ratio expressed in % is the difference between the actual ratio and regulatory minimum divided by the regulatory minimum
Excess capital to target ratio expressed in $ is the excess capital % multiplied by either average assets or risk-weighted assets, assuming a static balance sheet over the next 24 months
Trailing twelve months PPE of $54.6 million extrapolated over two years 17
Appendix
18INCOME STATEMENT DATA |
Total interest income $ 31,932 $ 30,927 $ 128,758 $ 131,540 $ 121,544 $ 78,749 $ 56,289 |
BALANCE SHEET DATA |
Cash and cash equivalents $ 277,176 $ 220,585 $ 244,635 $ 234,196 $ 181,042 $ 109,115 $ 204,852 |
For the Three Months Ended For the Year Ended December 31
Sep 30, 2026 | Jun 30, 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | |||||||
(Dollars in thousands, except per share data) | |||||||||||||
Total interest expense | 9,631 | 9,022 | 40,885 | 45,345 | 38,998 | 9,322 | 3,053 | ||||||
Total noninterest income | 1,069 | 1,002 | 8,503 | 11,254 | 9,242 | 2,939 | 2,250 | ||||||
Provision for income taxes | 3,412 | 2,669 | 13,696 | 14,656 | 8,948 | 9,619 | 7,755 | ||||||
Net income | 10,203 | 8,346 | 43,069 | 45,698 | 28,275 | 29,638 | 23,159 | ||||||
Interest-bearing time deposits in other banks | - | 1,494 | 10,457 | 6,719 | 17,679 | 5,474 | 3,237 | ||||||
Nonmarketable equity securities | 1,376 | 1,183 | 1,165 | 1,283 | 1,283 | 1,209 | 1,202 | ||||||
Allowance for credit losses (1) | 19,367 | 19,512 | 19,407 | 17,918 | 19,691 | 14,734 | 10,316 | ||||||
Interest-bearing deposits | 1,392,947 | 1,308,563 | 1,359,417 | 1,202,213 | 1,109,042 | 989,891 | 850,766 | ||||||
Total deposits | 1,721,058 | 1,637,803 | 1,700,833 | 1,515,471 | 1,591,391 | 1,429,300 | 1,217,471 | ||||||
Total shareholders' equity | 273,725 | 266,306 | 250,995 | 213,213 | 170,326 | 144,100 | 127,408 | ||||||
SHARES OUTSTANDING AT END OF PERIOD | |||||||||||||
Earnings per share (basic) | $ 1.07 | $ 0.88 | $ 4.56 | $ 4.92 | $ 3.09 | $ 3.26 | $ 2.56 | ||||||
Earnings per share (diluted) | 1.06 | 0.87 | 4.50 | 4.84 | 3.05 | 3.22 | 2.55 | ||||||
Book value per share | 28.73 | 27.98 | 26.52 | 22.71 | 18.52 | 15.78 | 14.04 | ||||||
Weighted average common shares outstanding-basic | 9,524,105 | 9,519,335 | 9,444,105 | 9,290,051 | 9,161,565 | 9,101,523 | 9,056,117 | ||||||
Shares outstanding at end of period | 9,525,856 | 9,519,335 | 9,462,656 | 9,390,211 | 9,197,696 | 9,131,973 | 9,071,417 | ||||||
19
Մ1Յ BSVN adopted the CECL model ՄASC326Յ on 1/1/2023 using the modified retrospective method. The presented allowance for periods prior to 1/1/2023 is under the incurred loss model (pre-ASC326Յ
Մ2Յ Represents a non-GAAP financial measure. See non-GAAP reconciliations table for reconciliation to most comparable GAAP measure for this metric
Bank7 Corp. Financials
Earnings Release: Q3 2026
For the Three Months Ended For the Year Ended December 31
Sep 30, 2026 | Jun 30, 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | |||||||
(Dollars in thousands, except per share data) | |||||||||||||
RETURN ON AVERAGE(1) | |||||||||||||
Assets | 2.13% | 1.80% | 2.37% | 2.65% | 1.68% | 2.02% | 2.21% | ||||||
Tangible common equity(3) | 15.60 | 13.30 | 19.47 | 25.00 | 18.57 | 23.92 | 20.13 | ||||||
Shareholders' equity | 14.92 | 12.70 | 18.51 | 23.78 | 17.46 | 22.13 | 26.41 | ||||||
Yield on earning assets | 6.83 | 6.79 | 7.24 | 7.79 | 7.31 | 5.46 | 5.42 | ||||||
Yield on loans | 7.46 | 7.32 | 7.92 | 8.56 | 8.35 | 6.51 | 6.16 | ||||||
Yield on loans excluding fees(3) | 7.01 | 7.00 | 7.52 | 8.13 | 7.89 | 5.96 | 5.30 | ||||||
Cost of funds | 2.37 | 2.28 | 2.59 | 2.98 | 2.57 | 0.70 | 0.33 | ||||||
Cost of int bearing deposits | 2.93 | 2.86 | 3.25 | 3.98 | 3.60 | 1.05 | 0.48 | ||||||
Cost of total deposits | 2.37 | 2.28 | 2.59 | 2.98 | 2.57 | 0.70 | 0.33 | ||||||
Net interest margin | 4.77 | 4.81 | 4.94 | 5.11 | 4.97 | 4.82 | 5.12 | ||||||
Net interest margin excluding loan fees(3) | 4.38 | 4.53 | 4.61 | 4.75 | 4.60 | 4.38 | 4.38 | ||||||
Noninterest expense to average assets | 2.04 | 2.56 | 2.14 | 2.15 | 1.98 | 1.96 | 1.95 | ||||||
Efficiency ratio (2) | 41.60 | 51.78 | 40.24 | 37.90 | 36.07 | 39.29 | 36.76 | ||||||
Loan to deposit ratio | 94.88 | 97.53 | 94.45 | 92.21 | 85.51 | 88.89 | 84.47 |
Liquidity ratio | 15.22 | 16.00 | 17.13 | 18.59 | 15.58 | 13.74 | 20.60 |
CREDIT QUALITY RATIOS | |||||||
Nonperforming assets to total assets | 0.37% | 0.33% | 0.33% | 0.43% | 1.64% | 1.13% | 0.77% |
Nonperforming assets to total loans and OREO | 0.45 | 0.39 | 0.40 | 0.54 | 2.13 | 1.42 | 1.01 |
Nonperforming loans to total loans | 0.45 | 0.39 | 0.40 | 0.51 | 2.13 | 1.42 | 1.01 |
Allowance for credit losses to nonperforming loans | 260.80 | 309.96 | 300.42 | 249.94 | 67.98 | 81.95 | 99.37 |
Allowance for credit losses to total loans | 1.19 | 1.22 | 1.21 | 1.28 | 1.45 | 1.16 | 1.00 |
Net charge-offs to average loans | 0.04 | (0.02) | (0.05) | 0.13 | 1.26 | 0.01 | 0.39 |
CAPITAL RATIOS | |||||||
Total shareholders' equity to total assets | 13.64% | 13.91% | 12.78% | 12.25% | 9.61% | 9.10% | 9.43% |
Tangible equity to tangible assets (3) | 13.12 | 13.37 | 12.25 | 11.78 | 9.13 | 8.52 | 8.75 |
Tier 1 leverage ratio (4) | 14.12 | 13.88 | 12.82 | 12.18 | 9.50 | 9.18 | 10.55 |
Tier 1 risk-based capital ratio (4) | 15.18 | 15.18 | 14.09 | 13.99 | 11.50 | 11.26 | 11.53 |
Total risk-based capital ratio (4) | 16.31 | 16.36 | 15.25 | 15.22 | 12.75 | 12.42 | 12.54 |
Մ1Յ Annualized
Մ2Յ Efficiency ratio is calculated by dividing noninterest expense by the sum of net interest income on a tax equivalent basis and noninterest income
Մ3Յ Represents a non-GAAP financial measure, see non-GAAP reconciliations table for reconciliation to the most comparable GAAP measure for this metric
Մ4Յ Ratios are based on Bank level financial information rather than consolidated information. At September 30, 2026, Tier 1 leverage ratio, Tier 1 risk based 20
capital ratio, and total risk-based capital ratios were 14.12%, 15.17%, and 16.30% respectively for the Company
TANGIBLE SHAREHOLDERS' EQUITY |
Total shareholders equity $ 273,725 $ 266,306 $ 250,995 $ 213,213 $ 170,326 $ 144,100 $ 127,408 |
LOAN INTEREST INCOME (Excluding loan fees): |
Total loan interest income, including fees $ 29,513 $ 28,980 $ 117,513 $ 119,416 $ 109,843 $ 74,403 $ 55,768 |
NET INTEREST MARGIN (Excluding loan fees): |
Net interest income $ 22,301 $ 21,905 $ 87,873 $ 86,195 $ 82,546 $ 69,427 $ 53,236 |
For the Three Months Ended For the Year Ended December 31
Sep 30, 2026 | Jun 30, 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | ||||||||
(Dollars in thousands, except per share data) | ||||||||||||||
Goodwill and other intangibles | (11,866) | (11,898) | (11,960) | (9,336) | (9,489) | (9,939) | (10,122) | |||||||
Tangible shareholders' equity | 261,859 | 254,408 | 239,035 | 203,877 | 160,837 | 134,161 | 117,286 | |||||||
TANGIBLE ASSETS | ||||||||||||||
Total assets | $ 2,006,986 | $ 1,914,327 | $ 1,963,640 | $ 1,739,808 | $ 1,771,666 | $ 1,584,169 | $ 1,350,549 | |||||||
Less: goodwill and other Intangibles | (11,866) | (11,898) | (11,960) | (9,336) | (9,489) | (9,939) | (10,122) | |||||||
Tangible assets | 1,995,120 | 1,902,429 | 1,951,680 | 1,730,472 | 1,762,177 | 1,574,230 | 1,340,427 | |||||||
AVERAGE TANGIBLE COMMON EQUITY | ||||||||||||||
Average shareholders equity | $ 271,329 | $ 263,550 | $ 232,739 | $ 192,163 | $ 161,936 | $ 144,097 | $ 117,053 | |||||||
Less: average goodwill and other Intangibles | (11,887) | (11,918) | (11,477) | (9,405) | (9,688) | (9,995) | (2,030) | |||||||
End of period common shares outstanding | 9,525,856 | 9,519,335 | 9,462,656 | 9,390,211 | 9,197,696 | 9,131,973 | 9,071,417 | |||||||
Tangible book value per share | 27.49 | 26.73 | 25.26 | 21.71 | 17.49 | 14.69 | 12.93 | |||||||
Tangible shareholders' equity to tangible assets | 13.12% | 13.37% | 12.25% | 11.78% | 9.13% | 8.52% | 8.75% | |||||||
Loan fee income | (1,789) | (1,250) | (5,968) | (5,991) | (6,099) | (6,278) | (7,787) | |||||||
Average total loans | $ 1,566,740 | $ 1,588,481 | $ 1,483,112 | $ 1,391,552 | $ 1,315,578 | $ 1,143,380 | $ 905,804 | |||||||
Yield on loans (excluding loan fee income) | 7.01% | 7.00% | 7.52% | 8.13% | 7.89% | 5.96% | 5.30% | |||||||
Loan fee income | (1,789) | (1,250) | (5,968) | (5,991) | (6,099) | (6,278) | (7,787) | |||||||
Average earning assets | $ 1,855,900 | $ 1,827,912 | $ 1,778,412 | $ 1,683,058 | $ 1,661,860 | $ 1,441,140 | $ 1,038,773 | |||||||
Net interest margin (excluding loan fee income) | 4.38% | 4.53% | 4.61% | 4.75% | 4.60% | 4.38% | 4.38% | |||||||
21 | ||||||||||||||
PRE-PROVISION PRE-TAX EARNINGS |
Net Income $ 10,203 $ 8,346 $ 43,069 $ 45,698 $ 28,275 $ 29,638 $ 23,159 |
For the Three Months Ended For the Year Ended December 31
Sep 30, 2026 | Jun 30, 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | |||||||
(Dollars in thousands, except per share data) | |||||||||||||
Income Tax Expense | 3,412 | 2,669 | 13,696 | 14,656 | 8,948 | 9,619 | 7,755 | ||||||
Add back: Provision for credit losses | - | - | 700 | - | 21,145 | 4,468 | 4,175 | ||||||
Pre-provision pre-tax earnings | $ 13,620 | $ 11,015 | $ 57,475 | $ 60,360 | $ 58,384 | $ 43,852 | $ 35,089 |
For the Three Months Ended For the Year Ended December 31
Sep 30, 2026 | Jun 30, 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | ||||||
(Dollars in thousands, except per share data) | ||||||||||||
ADJUSTED CORE | ||||||||||||
Net Income | $ 10,203 | $ 8,346 | $ 43,069 | $ 45,698 | $ 28,275 | $ 29,638 | $ 23,159 | |||||
Back out: Oil and gas net income (loss) | (9) | (1,539) | 470 | 2,714 | 868 | - | - | |||||
Back out: One-time after-tax interest income item | - | - | - | 774 | - | - | - | |||||
Back out: After-tax acquisition related expense and consulting fees | (508) | (298) | - | - | - | - | - | |||||
Adjusted core net income | 10,719 | 10,183 | 42,599 | 42,210 | 27,407 | 29,638 | 23,159 | |||||
Pre-provision pre-tax earnings | 13,620 | 11,015 | 57,475 | 60,360 | 58,384 | 43,852 | 35,089 | |||||
Back out: Oil and gas pre-tax income (loss) | (11) | (2,052) | 627 | 3,618 | 1,157 | - | - | |||||
Back out: One-time pre-tax interest income item | - | - | - | 1,021 | - | - | - | |||||
Back out: Pre-tax acquisition related expense and consulting fees | (677) | (397) | - | - | - | - | - | |||||
Adjusted core pre-provision pre-tax earnings | 14,309 | 13,464 | 56,848 | 55,721 | 57,227 | 43,852 | 35,089 | |||||
Adjusted core net income | 10,719 | 10,183 | 42,599 | 42,210 | 27,407 | 29,638 | 23,159 | |||||
Weighted average common shares outstanding-diluted | 9,639,992 | 9,604,143 | 9,574,190 | 9,447,751 | 9,264,307 | 9,204,716 | 9,091,536 | |||||
Adjusted core earnings per share (diluted) | 1.11 | 1.06 | 4.45 | 4.47 | 2.96 | 3.22 | 2.55 | |||||
Adjusted core net income | 10,719 | |||||||||||
Average assets | 1,896,408 | |||||||||||
Back out: Average oil and gas assets | - | |||||||||||
Adjusted core average assets | 1,896,408 | |||||||||||
Adjusted core return on average assets | 2.24% | |||||||||||
Adjusted core net income | 10,719 | |||||||||||
Average tangible common equity | 259,442 | |||||||||||
Back out: Average oil and gas tangible common equity | (1,718) | |||||||||||
Adjusted core average tangible common equity | 257,724 | |||||||||||
Adjusted core return on tangible common equity | 16.50% | |||||||||||
Municipal - Tax Exempt
$9.49 / 20.0%
Municipal - Taxable
$4.73 / 9.9%
U.S. Treasuries
$5.51 / 11.6%
Corporate
$5.24 / 11.0%
U.S. Federal Agencies
$- / 0.0%
Weighted Average Duration: 3.4 Years
Book Yield: 2.39%
Mortgage Backed Securities
$22.57 / 47.5%
Dollars are in millions.
Մ1Յ All mortgage-backed securities and collateralized mortgage obligations are issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored entities. 24
Մ2Յ Total investment securities of $47.5 million as of September 30, 2026
This presentation and oral statements made regarding the subject of this presentation contain forward-looking statements, including expectations regarding combined deposits and assets following the acquisition of Century Financial Services Corporation ("Century") and expected accretion to earnings per share as a result of the Century acquisition. These forward-looking statements are subject to significant uncertainties because they are based upon: the timing of closing the Century acquisition; 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. 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. 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.
Within this presentation, we reference certain market, industry and demographic data, forecasts and other statistical information. We have obtained this data, forecasts and information from various independent, third party industry sources and publications. Nothing in the data, forecasts or information used or derived from third party sources should be construed as advice. Some data and other information are also based on our good faith estimates, which are derived from our review of industry publications and surveys and independent sources. We believe that these sources and estimates are reliable, but have not independently verified them. Statements as to our market position are based on market data currently available to us. Although we are not aware of any misstatements regarding the economic, employment, industry and other market data presented herein, these estimates involve inherent risks and uncertainties and are based on assumptions that are subject to change.
This presentation includes certain non-GAAP financial measures. These non-GAAP financial measures 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 in the appendix of this presentation for a reconciliation of the non-GAAP financial measures used in (or conveyed orally during) this presentation to their most directly comparable GAAP financial measures.
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