Bank7 Corp. Reports Record Earnings for Q4 2024 and Full Year Performance

Bank7 Corp. Achieves Record Earnings for Q4 2024 and Full Year

Bank7 Corp., the parent company of Bank7 located in Oklahoma City, has recently disclosed its unaudited financial results for the fourth quarter ended December 31, 2024. The company has celebrated a remarkable year, with its President and CEO, Thomas L. Travis, announcing peak performance metrics across multiple domains, including net income, PPE (pre-provision pre-tax earnings), and earnings per share.

Over the year, Bank7 Corp. recorded an impressive net income of $45.7 million, marking a 61.62% increase from the previous year’s figure of $28.3 million. This surge in profitability can be attributed to effective management strategies, disciplined cost control, and an emphasis on maintaining exceptional credit quality. Earnings per share also reflected this upward trend, rising 58.69% to $4.84, compared to $3.05 the year before.

In terms of total assets, Bank7 listed $1.7 billion, a slight decline of 1.80% from $1.8 billion in 2023. Despite this minor reduction, the company's loan portfolio expanded by 2.69% to $1.4 billion, which reflects the growing demand for loans among its clients. The bank reported total interest income of $131.5 million, showcasing an 8.22% increase from $121.5 million, driven by strategic lending initiatives.

Notably, the company remains well-capitalized, continuing to maintain capital levels significantly above regulatory requirements. On December 31, 2024, Bank7's Tier 1 leverage ratio was 12.18%, with Tier 1 risk-based capital ratio at 13.99% and total risk-based capital ratio at 15.22%. The measures indicate a robust financial foundation, fostering confidence in the company's stability and operational capability.

Travis commented, "Our precisely matched balance sheet and rigorous enforcement of cost-handling measures have contributed significantly to our outstanding performance this year." This statement underscores the organization's commitment to strategy and sound governance.

In anticipation of continued growth, Bank7 Corp. focuses on expanding its reach within its target markets, which include Oklahoma and the Dallas/Fort Worth area in Texas, alongside locations in Kansas. Their strategic plan includes organically growing through selective new branch openings and potential acquisitions to enhance service delivery to business owners and entrepreneurs.

Additionally, the company has scheduled a conference call for January 16, 2025, where further discussion on the financial results will take place, allowing stakeholders to engage with Bank7’s leadership.

In summary, Bank7 Corp.'s performance in 2024 has established new benchmarks in profitability and operational efficiency. The findings highlight a promising outlook as the bank positions itself for further success in the evolving financial landscape.

Conclusion

The financial results released not only affirm Bank7’s strength but also showcase significant growth potential, setting the stage for continued achievement in 2025 and beyond.