Bank7 Corp. (NASDAQ: BSVN) saw its shares skyrocketed Friday, as the parent company of Oklahoma City-based Bank7 reported unaudited results for the quarter ended September 30, 2024. "We are pleased to announce another record quarter of net income and EPS. Our properly matched balance sheet, disciplined approach to cost controls, and excellent credit quality continues to produce outstanding results" said CEO Thomas L. Travis.
For the three months ended September 30, 2024 compared to the three months ended September 30, 2023:
• Net income of $11.8 million compared to $7.9 million, an increase of 49.97%
• Earnings per share of $1.24 compared to $0.85, an increase of 45.88%
• Total assets of $1.7 billion compared to $1.8 billion, a decrease of 1.80%
• Total loans of $1.4 billion compared to $1.4 billion, an increase of 3.21%
• PPE of $15.5 million compared to $14.4 million, an increase of 7.86%
• Total interest income of $33.5 million compared to $31.7 million, an increase of 5.57%
Both the Bank's and the Company's capital levels continue to be significantly above the minimum levels required to be designated as "well-capitalized" for regulatory purposes. On September 30, 2024, the Bank's Tier
1 leverage ratio, Tier 1 risk-based capital ratio, and total risk-based capital ratios were 11.64%, 12.93%, and 14.12%, respectively.
BSVN took on $1.52, or 4.1%, to $39.02 at Friday’s open.
