Bank7 Corp. Files Q3 2024 10-Q Financial Report
Ticker: BSVN · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1746129
Sentiment: neutral
Topics: 10-Q, financials, banking
TL;DR
Bank7 Corp. Q3 2024 10-Q is in. Financials look solid.
AI Summary
Bank7 Corp. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and position, including its assets, liabilities, and equity. Specific financial figures and operational details for the third quarter of 2024 are presented, alongside comparative data from previous periods.
Why It Matters
This filing provides investors and analysts with a detailed look into Bank7 Corp.'s financial health and operational performance for the third quarter of 2024, crucial for understanding the bank's current standing and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not inherently present new risks beyond those typically associated with publicly traded companies.
Key Numbers
- Q3 2024 — Reporting Period (The financial data pertains to this quarter.)
- 2024-01-01 to 2024-09-30 — Year-to-Date Period (Covers the first nine months of 2024.)
- 2023-01-01 to 2023-09-30 — Prior Year-to-Date Period (For comparison with the current year's performance.)
Key Players & Entities
- Bank7 Corp. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-05 (date) — Filing date
- Oklahoma City, OK (location) — Company headquarters and mailing address
FAQ
What is the primary business of Bank7 Corp. as indicated by its SIC code?
Bank7 Corp.'s Standard Industrial Classification (SIC) code is 6022, which corresponds to 'STATE COMMERCIAL BANKS'.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted on November 5, 2024.
What is the fiscal year-end for Bank7 Corp.?
Bank7 Corp.'s fiscal year ends on December 31.
What is the physical address of Bank7 Corp.'s business operations?
Bank7 Corp.'s business address is 1039 NW 63rd Street, Oklahoma City, OK 73116.
For which period is Bank7 Corp. providing financial information in this filing?
This 10-Q filing reports financial information for the period ending September 30, 2024.
Filing Stats: 4,447 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-11-05 09:18:58
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per Share BSVN The NASDAQ
- $0 — ,185 sh ares of common stock, par value $0.01, outstanding. TABLE OF CONTENTS
Filing Documents
- ef20034531_10q.htm (10-Q) — 4642KB
- ef20034531_ex31-1.htm (EX-31.1) — 11KB
- ef20034531_ex31-2.htm (EX-31.2) — 11KB
- ef20034531_ex32-1.htm (EX-32.1) — 4KB
- 0001140361-24-045199.txt ( ) — 18685KB
- bsvn-20240930.xsd (EX-101.SCH) — 54KB
- bsvn-20240930_cal.xml (EX-101.CAL) — 81KB
- bsvn-20240930_def.xml (EX-101.DEF) — 328KB
- bsvn-20240930_lab.xml (EX-101.LAB) — 822KB
- bsvn-20240930_pre.xml (EX-101.PRE) — 503KB
- ef20034531_10q_htm.xml (XML) — 5181KB
Financial Statements
Financial Statements Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Comprehensive Income 4 Unaudited Condensed Consolidated Statements of Shareholders' Equity 5 Unaudited Condensed Consolidated Statements of Cash Flows 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 52 Item 4.
Controls and Procedures
Controls and Procedures 53 PART II. OTHER INFORMATION 54 Item 1.
Legal Proceedings
Legal Proceedings 54 Item 1A.
Risk Factors
Risk Factors 54 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 3. Defaults Upon Senior Securities 54 Item 4. Mine Safety Disclosures 54 Item 5. Other Information 54 Item 6. Exhibits 55
Signatures
Signatures 55 Table of Contents
Forward-Looking Statements
Forward-Looking Statements This Form 10-Q contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our 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 us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our 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. Factors that could cause such differences are discussed in the section titled "Risk Factors" in our most recent Annual Report on Form 10-K, and may be discussed from time to time in our other SEC filings, including our Quarterly Reports. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. You are cautioned not to place undue reliance on forwa
Financial Statements
Financial Statements Note 1: Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Bank7 Corp. (the "Company") is a bank holding company whose principal activity is the ownership and management of its wholly owned subsidiary, Bank7 (the "Bank"). The Bank is primarily engaged in providing a full range of banking and financial services to individual and corporate customers located in Oklahoma, Texas, and Kansas. The Bank is subject to competition from other financial institutions. The Company is subject to the regulation of certain federal agencies and undergoes periodic examinations by those regulatory authorities. Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position, results of operations, and cash flows of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2023, the date of the most recent annual report. The condensed consolidated balance sheet of the Company as of December 31, 2023 has been derived from the audited consolidated balance sheet of the Company as of that date. Certain information and notes normally included in the Company's annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. The information contained in the financial statements and footnotes included in Company's annual report for the year ended December 31, 2023, should be referred to in connection with these unaudited interim consolidated financial statements. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period. Principles of Con