$BSVN
Bank7 Corp.

2020 Q1 Form 10-Q Financial Statement

#000114036120011655 Filed on May 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $13.51M $12.58M
YoY Change 7.39%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $270.0K $180.0K
YoY Change 50.0% -40.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $2.075M $2.224M
YoY Change -6.7%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $6.759M $6.821M
YoY Change -0.91% 7.42%
Income Tax $1.708M $1.705M
% Of Pretax Income 25.27% 25.0%
Net Earnings $5.051M $5.116M
YoY Change -1.27% -19.43%
Net Earnings / Revenue 37.4% 40.68%
Basic Earnings Per Share $0.51 $0.50
Diluted Earnings Per Share $0.51 $0.50
COMMON SHARES
Basic Shares Outstanding 9.973M 10.19M
Diluted Shares Outstanding 9.973M 10.19M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $148.6M $156.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $9.644M $8.300M
YoY Change 16.19% -11.7%
Goodwill $1.000M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $974.4M $787.2M
YoY Change 23.77% 11.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.000M $3.200M
YoY Change 25.0% -8.57%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.800M $6.900M
YoY Change -15.94% 97.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.800M $6.900M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $876.7M $693.5M
YoY Change 26.42% 9.9%
SHAREHOLDERS EQUITY
Retained Earnings $4.952M
YoY Change
Common Stock $92.66M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $97.62M $93.75M
YoY Change
Total Liabilities & Shareholders Equity $974.4M $787.2M
YoY Change 23.77% 11.41%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $5.051M $5.116M
YoY Change -1.27% -19.43%
Depreciation, Depletion And Amortization $270.0K $180.0K
YoY Change 50.0% -40.0%
Cash From Operating Activities $8.463M $7.175M
YoY Change 17.95% -4.84%
INVESTING ACTIVITIES
Capital Expenditures $238.0K $659.0K
YoY Change -63.88% -1041.43%
Acquisitions
YoY Change
Other Investing Activities -$78.36M $10.77M
YoY Change -827.58% 1932.08%
Cash From Investing Activities -$78.59M $10.11M
YoY Change -877.31% 2098.04%
FINANCING ACTIVITIES
Cash Dividend Paid $5.029M $0.00
YoY Change
Common Stock Issuance & Retirement, Net $6.815M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 101.6M 10.77M
YoY Change 843.37% -374.82%
NET CHANGE
Cash From Operating Activities 8.463M 7.175M
Cash From Investing Activities -78.59M 10.11M
Cash From Financing Activities 101.6M 10.77M
Net Change In Cash 31.50M 28.06M
YoY Change 12.26% 587.72%
FREE CASH FLOW
Cash From Operating Activities $8.463M $7.175M
Capital Expenditures $238.0K $659.0K
Free Cash Flow $8.225M $6.516M
YoY Change 26.23% -14.38%

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CY2020Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
5029000
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
0
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
238000
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
659000
CY2020Q1 us-gaap Payments To Purchase Loans Held For Sale
PaymentsToPurchaseLoansHeldForSale
1371000
CY2019Q1 us-gaap Payments To Purchase Loans Held For Sale
PaymentsToPurchaseLoansHeldForSale
2343000
CY2019Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0.01
CY2020Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2020Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2019Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
2685000
CY2020Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
2440000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9624000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9644000
CY2020Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
650000
CY2019Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
0
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4952000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
7634000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
171000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
180000
CY2020Q1 us-gaap Statutory Accounting Practices Statutory Amount Available For Dividend Payments Without Regulatory Approval
StatutoryAccountingPracticesStatutoryAmountAvailableForDividendPaymentsWithoutRegulatoryApproval
25400000
CY2019Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0
CY2020Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
793094
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
100126000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
97616000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
93753000
CY2020Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
1817000
CY2019Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
357000
CY2020Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
53000
CY2019Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
42000
CY2020Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
8.59
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div style="font-style: italic; font-weight: bold;">Use of Estimates</div><div>&#160;</div><div style="margin-left: 18pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.&#160; Actual results could differ from those estimates.</div><div style="margin-left: 18pt;"><br /></div><div style="margin-left: 18pt;"><br /></div><div style="margin-left: 18pt;">Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of other real estate owned, other-than-temporary impairments, income taxes, goodwill and intangibles and fair values of financial instruments.</div></div>
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10187500
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9972899
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9972899
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10187500
CY2020Q1 bsvn Financing Receivable Recorded Investment Non Performing Loans
FinancingReceivableRecordedInvestmentNonPerformingLoans
3316000
CY2019Q4 bsvn Financing Receivable Recorded Investment Non Performing Loans
FinancingReceivableRecordedInvestmentNonPerformingLoans
3333000
CY2019Q4 bsvn Financing Receivable Recorded Investment Troubled Debt Restructurings
FinancingReceivableRecordedInvestmentTroubledDebtRestructurings
912000
CY2020Q1 bsvn Financing Receivable Recorded Investment Troubled Debt Restructurings
FinancingReceivableRecordedInvestmentTroubledDebtRestructurings
946000
CY2020Q1 bsvn Noninterest Income Service Charges On Deposit Accounts
NoninterestIncomeServiceChargesOnDepositAccounts
119000
CY2019Q1 bsvn Noninterest Income Service Charges On Deposit Accounts
NoninterestIncomeServiceChargesOnDepositAccounts
60000
CY2020Q1 bsvn Number Of Shares Contributed By Largest Shareholder
NumberOfSharesContributedByLargestShareholder
656925
CY2020Q1 bsvn Percentage Of Share Contribution
PercentageOfShareContribution
0.065
CY2020Q1 bsvn Reserve Funds To Be Maintained With Federal Reserve Bank
ReserveFundsToBeMaintainedWithFederalReserveBank
0
CY2019Q1 bsvn Increase Decrease In Accrued Interest Receivable And Other Assets
IncreaseDecreaseInAccruedInterestReceivableAndOtherAssets
-786000
CY2020Q1 bsvn Increase Decrease In Accrued Interest Receivable And Other Assets
IncreaseDecreaseInAccruedInterestReceivableAndOtherAssets
-203000
CY2019Q1 bsvn Increase Decrease In Interest Payable And Other Liabilities
IncreaseDecreaseInInterestPayableAndOtherLiabilities
665000
CY2020Q1 bsvn Increase Decrease In Interest Payable And Other Liabilities
IncreaseDecreaseInInterestPayableAndOtherLiabilities
1098000
CY2019Q1 bsvn Payments Of Interest Bearing Time Deposits In Other Banks
PaymentsOfInterestBearingTimeDepositsInOtherBanks
9491000
CY2020Q1 bsvn Payments Of Interest Bearing Time Deposits In Other Banks
PaymentsOfInterestBearingTimeDepositsInOtherBanks
12678000
CY2019Q1 bsvn Proceeds From Interest Bearing Time Deposits In Other Banks
ProceedsFromInterestBearingTimeDepositsInOtherBanks
6973000
CY2020Q1 bsvn Proceeds From Interest Bearing Time Deposits In Other Banks
ProceedsFromInterestBearingTimeDepositsInOtherBanks
12723000
CY2020Q1 bsvn Payments To Acquire Proceeds From Equity Securities Without Readily Determinable Fair Value Amount
PaymentsToAcquireProceedsFromEquitySecuritiesWithoutReadilyDeterminableFairValueAmount
-11000
CY2019Q1 bsvn Payments To Acquire Proceeds From Equity Securities Without Readily Determinable Fair Value Amount
PaymentsToAcquireProceedsFromEquitySecuritiesWithoutReadilyDeterminableFairValueAmount
0
CY2020Q1 bsvn Nonmarketable Equity Securities
NonmarketableEquitySecurities
1089000
CY2019Q4 bsvn Nonmarketable Equity Securities
NonmarketableEquitySecurities
1100000
CY2020Q1 bsvn Interest Payable And Other Liabilities
InterestPayableAndOtherLiabilities
3961000
CY2019Q4 bsvn Interest Payable And Other Liabilities
InterestPayableAndOtherLiabilities
8426000
CY2019Q1 bsvn Interest Bearing Time Deposits In Banks
InterestBearingTimeDepositsInBanks
417000
CY2020Q1 bsvn Interest Bearing Time Deposits In Banks
InterestBearingTimeDepositsInBanks
162000
CY2019Q1 bsvn Regulatory Assessments
RegulatoryAssessments
32000
CY2020Q1 bsvn Regulatory Assessments
RegulatoryAssessments
23000
CY2019Q1 bsvn Accounting Marketing And Legal Fees
AccountingMarketingAndLegalFees
147000
CY2020Q1 bsvn Accounting Marketing And Legal Fees
AccountingMarketingAndLegalFees
126000
CY2020Q1 bsvn Noninterest Income Secondary Market Income
NoninterestIncomeSecondaryMarketIncome
38000
CY2019Q1 bsvn Noninterest Income Secondary Market Income
NoninterestIncomeSecondaryMarketIncome
37000

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