$BSVN
Bank7 Corp.

2021 Q1 Form 10-Q Financial Statement

#000114036121016843 Filed on May 11, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $13.19M $13.51M
YoY Change -2.36% 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 $260.0K $270.0K
YoY Change -3.7% 50.0%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $875.0K $2.075M
YoY Change -57.83% -6.7%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $6.830M $6.759M
YoY Change 1.05% -0.91%
Income Tax $1.726M $1.708M
% Of Pretax Income 25.27% 25.27%
Net Earnings $5.104M $5.051M
YoY Change 1.05% -1.27%
Net Earnings / Revenue 38.7% 37.4%
Basic Earnings Per Share $0.56 $0.51
Diluted Earnings Per Share $0.56 $0.51
COMMON SHARES
Basic Shares Outstanding 9.049M 9.973M
Diluted Shares Outstanding 9.059M 9.973M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $170.1M $148.6M
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 $9.053M $9.644M
YoY Change -6.13% 16.19%
Goodwill $1.000M $1.000M
YoY Change 0.0%
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 $1.046B $974.4M
YoY Change 7.36% 23.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.300M $4.000M
YoY Change -17.5% 25.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.400M $5.800M
YoY Change -6.9% -15.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.400M $5.800M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $934.3M $876.7M
YoY Change 6.57% 26.42%
SHAREHOLDERS EQUITY
Retained Earnings $18.18M $4.952M
YoY Change 267.04%
Common Stock $93.55M $92.66M
YoY Change 0.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $111.7M $97.62M
YoY Change
Total Liabilities & Shareholders Equity $1.046B $974.4M
YoY Change 7.36% 23.77%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $5.104M $5.051M
YoY Change 1.05% -1.27%
Depreciation, Depletion And Amortization $260.0K $270.0K
YoY Change -3.7% 50.0%
Cash From Operating Activities $9.239M $8.463M
YoY Change 9.17% 17.95%
INVESTING ACTIVITIES
Capital Expenditures $117.0K $238.0K
YoY Change -50.84% -63.88%
Acquisitions
YoY Change
Other Investing Activities -$15.41M -$78.36M
YoY Change -80.33% -827.58%
Cash From Investing Activities -$15.53M -$78.59M
YoY Change -80.24% -877.31%
FINANCING ACTIVITIES
Cash Dividend Paid $995.0K $5.029M
YoY Change -80.21%
Common Stock Issuance & Retirement, Net $0.00 $6.815M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.52M 101.6M
YoY Change -77.84% 843.37%
NET CHANGE
Cash From Operating Activities 9.239M 8.463M
Cash From Investing Activities -15.53M -78.59M
Cash From Financing Activities 22.52M 101.6M
Net Change In Cash 16.23M 31.50M
YoY Change -48.47% 12.26%
FREE CASH FLOW
Cash From Operating Activities $9.239M $8.463M
Capital Expenditures $117.0K $238.0K
Free Cash Flow $9.122M $8.225M
YoY Change 10.91% 26.23%

Facts In Submission

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PreferredStockValue
0
CY2021Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2020Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
2440000
CY2021Q1 us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
2267000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9053000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9151000
CY2021Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
1275000
CY2020Q1 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
650000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
14067000
CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
18176000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
302000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
180000
CY2021Q1 us-gaap Statutory Accounting Practices Statutory Amount Available For Dividend Payments Without Regulatory Approval
StatutoryAccountingPracticesStatutoryAmountAvailableForDividendPaymentsWithoutRegulatoryApproval
21400000
CY2021Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
793094
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
107319000
CY2021Q1 dei Entity Registrant Name
EntityRegistrantName
Bank7 Corp.
CY2021Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001746129
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
111730000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
97616000
CY2021Q1 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
2050000
CY2020Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
9000
CY2020Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
53000
CY2021Q1 us-gaap Travel And Entertainment Expense
TravelAndEntertainmentExpense
89000
CY2021Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
8.59
CY2021Q1 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;">&#160;</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>
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9972899
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9049007
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9058685
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9972899
CY2021Q1 dei Amendment Flag
AmendmentFlag
false
CY2021Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021Q1 dei Document Period End Date
DocumentPeriodEndDate
2021-03-31
CY2021Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
OK
CY2021Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2021Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2021Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
9049256
CY2021Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2021Q1 dei Document Type
DocumentType
10-Q
CY2021Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2021Q1 dei Entity Shell Company
EntityShellCompany
false
CY2021Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2021Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2021Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2021Q1 bsvn Reserve Funds To Be Maintained With Federal Reserve Bank
ReserveFundsToBeMaintainedWithFederalReserveBank
0
CY2020Q1 bsvn Impaired Financing Receivable Interest Income Expense Accrual Method
ImpairedFinancingReceivableInterestIncomeExpenseAccrualMethod
290000
CY2021Q1 bsvn Impaired Financing Receivable Interest Income Expense Accrual Method
ImpairedFinancingReceivableInterestIncomeExpenseAccrualMethod
324000
CY2020Q4 bsvn Financing Receivable Recorded Investment Non Performing Loans
FinancingReceivableRecordedInvestmentNonPerformingLoans
16535000
CY2021Q1 bsvn Increase Decrease In Interest Payable And Other Liabilities
IncreaseDecreaseInInterestPayableAndOtherLiabilities
1481000
CY2020Q1 bsvn Increase Decrease In Interest Payable And Other Liabilities
IncreaseDecreaseInInterestPayableAndOtherLiabilities
1098000
CY2020Q1 bsvn Increase Decrease In Accrued Interest Receivable And Other Assets
IncreaseDecreaseInAccruedInterestReceivableAndOtherAssets
-203000
CY2021Q1 bsvn Increase Decrease In Accrued Interest Receivable And Other Assets
IncreaseDecreaseInAccruedInterestReceivableAndOtherAssets
-805000
CY2021Q1 bsvn Financing Receivable Recorded Investment Non Performing Loans
FinancingReceivableRecordedInvestmentNonPerformingLoans
16377000
CY2021Q1 bsvn Financing Receivable Recorded Investment Troubled Debt Restructurings
FinancingReceivableRecordedInvestmentTroubledDebtRestructurings
0
CY2020Q4 bsvn Financing Receivable Recorded Investment Troubled Debt Restructurings
FinancingReceivableRecordedInvestmentTroubledDebtRestructurings
0
CY2021Q1 bsvn Noninterest Income Service Charges On Deposit Accounts
NoninterestIncomeServiceChargesOnDepositAccounts
120000
CY2020Q1 bsvn Noninterest Income Service Charges On Deposit Accounts
NoninterestIncomeServiceChargesOnDepositAccounts
119000
CY2020Q1 bsvn Noninterest Income Secondary Market Income
NoninterestIncomeSecondaryMarketIncome
38000
CY2021Q1 bsvn Noninterest Income Secondary Market Income
NoninterestIncomeSecondaryMarketIncome
14000
CY2020Q1 bsvn Accounting Marketing And Legal Fees
AccountingMarketingAndLegalFees
126000
CY2021Q1 bsvn Accounting Marketing And Legal Fees
AccountingMarketingAndLegalFees
148000
CY2021Q1 bsvn Regulatory Assessments
RegulatoryAssessments
141000
CY2020Q1 bsvn Regulatory Assessments
RegulatoryAssessments
23000
CY2021Q1 bsvn Interest Bearing Time Deposits In Banks
InterestBearingTimeDepositsInBanks
68000
CY2020Q1 bsvn Interest Bearing Time Deposits In Banks
InterestBearingTimeDepositsInBanks
162000
CY2020Q4 bsvn Interest Payable And Other Liabilities
InterestPayableAndOtherLiabilities
3827000
CY2021Q1 bsvn Interest Payable And Other Liabilities
InterestPayableAndOtherLiabilities
3267000
CY2020Q4 bsvn Nonmarketable Equity Securities
NonmarketableEquitySecurities
1172000
CY2021Q1 bsvn Nonmarketable Equity Securities
NonmarketableEquitySecurities
1187000
CY2021Q1 bsvn Payment To Acquire Of Nonmarketable Equity Securities
PaymentToAcquireOfNonmarketableEquitySecurities
15000
CY2020Q1 bsvn Payment To Acquire Of Nonmarketable Equity Securities
PaymentToAcquireOfNonmarketableEquitySecurities
-11000
CY2020Q1 bsvn Proceeds From Interest Bearing Time Deposits In Other Banks
ProceedsFromInterestBearingTimeDepositsInOtherBanks
12723000
CY2021Q1 bsvn Proceeds From Interest Bearing Time Deposits In Other Banks
ProceedsFromInterestBearingTimeDepositsInOtherBanks
9449000
CY2021Q1 bsvn Payments Of Interest Bearing Time Deposits In Other Banks
PaymentsOfInterestBearingTimeDepositsInOtherBanks
0
CY2020Q1 bsvn Payments Of Interest Bearing Time Deposits In Other Banks
PaymentsOfInterestBearingTimeDepositsInOtherBanks
12678000

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