Bank7 Q4 net income plunges 87% to $1.1M on $15.5M provision for one large credit

Bank7 Corp.

2023-FY EPS reported $3.05

Q4 EPS $0.12 (diluted) vs $0.91 YoY; full-year EPS $3.05 vs $3.22.
Q4 provision for credit losses surged to $15.5M from $1.6M; CEO cites one large credit.
Full-year pre-provision earnings (PPE) rose 33% to a record $58.4M; net interest margin 4.97%.
Total deposits grew 11% YoY to $1.59B; adjusted uninsured deposits covered 1.75x by liquidity.
Bank remains well-capitalized: Tier 1 leverage 9.54%, CET1 11.49%, debt-free balance sheet.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Bank7 Corp. reported the quarter and year ended December 31, 2023 results: net income Net income of $1.1 million compared to $8.4 million, a decrease of 87.24%, EPS Earnings per share of $0.12 compared to $0.91, a decrease of 87.36%.

Period: the quarter and year ended December 31, 2023
Net income: Net income of $1.1 million compared to $8.4 million, a decrease of 87.24%
EPS: Earnings per share of $0.12 compared to $0.91, a decrease of 87.36%
Result: reported results

Exact text from the filing

Bank7 Corp. Announces Q4 2023 and Full Year Earnings Oklahoma City, January 29, 2024 – Bank7 Corp. (NASDAQ: BSVN) (“the Company”), the parent company of Oklahoma City-based Bank7 (the “Bank”), today reported unaudited results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001140361-24-004137

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