Welcome to our dedicated page for Bank7 news (Ticker: BSVN), a resource for investors and traders seeking the latest updates and insights on Bank7 stock.
Bank7 Corp. reports news as a bank holding company for Oklahoma City-based Bank7, a full-service bank serving business owners and entrepreneurs with loan and deposit products. Its updates center on quarterly and annual earnings, net interest margin, loan and deposit growth, credit quality, liquidity, capital ratios, and pre-provision pre-tax earnings.
Recurring announcements also include earnings conference calls and quarterly cash dividends on common stock. The company’s operating footprint includes locations in Oklahoma, the Dallas/Fort Worth metropolitan area, and Kansas.
Bank7 Corp. (NASDAQ: BSVN) will publish its fourth quarter and full year 2021 financial results on January 28, 2022, before market open. A conference call to discuss these results will occur on the same day at 2:00 p.m. CST. Investors can participate by calling 1-888-348-6421 or via live webcast. Bank7 Corp. operates in Oklahoma and Texas, focusing on providing tailored loan and deposit products for business owners. The company aims for organic growth through new branch openings and strategic acquisitions.
Bank7 Corp. (NASDAQ: BSVN) has successfully completed its acquisition of Watonga Bancshares, Inc., enhancing its presence in the Oklahoma City market. The acquisition adds three branches, bringing the total to 12, and increases total assets by $254 million to $1.4 billion. Additionally, total deposits rose by $228 million to $1.2 billion, and total loans increased by $118 million to $1 billion as of September 30, 2021. This strategic move aims to serve new customers and meet financial goals, according to President & CEO Thomas L. Travis.
Bank7 Corp. (NASDAQ: BSVN) announced a secondary offering of 1,000,000 shares of common stock priced at $22.00 per share, initiated by the William B. Haines Financial Services Trust. The offering, set to close on December 14, 2021, allows underwriters a 30-day option to purchase an additional 150,000 shares. The company will not sell any shares, nor will it receive proceeds from the offering. Costs related to the sale will be covered by Bank7, excluding underwriting discounts.
Bank7 Corp. (NASDAQ: BSVN) announced a $0.12 quarterly cash dividend, marking a 10% increase and the second consecutive annual rise. The dividend will be paid on January 7, 2022, to shareholders of record by December 23, 2021. CEO Thomas L. Travis highlighted this decision as a reflection of the company's strong earnings and capital position, emphasizing the commitment to returning value to shareholders.
Bank7 Corp. (NASDAQ: BSVN) announced a secondary offering of 1,000,000 shares of common stock by its principal shareholder, the William B. Haines Financial Services Trust. An additional 150,000 shares may be purchased by underwriters within 30 days. The offering is entirely from the Selling Shareholder and will not affect the total number of shares outstanding, with proceeds not going to Bank7. Keefe, Bruyette & Woods is the lead manager, and the offering is detailed in a shelf registration statement declared effective by the SEC.
Bank7 Corp. (NASDAQ: BSVN) reported record third-quarter results for 2021, with net income reaching $6.3 million, a 41.1% increase from the previous year. Pre-tax, pre-provision earnings rose 23.5% to $9.1 million. Total assets increased to $1.1 billion, up 17.8%, while total deposits grew 17.9% to $1.0 billion. The tangible book value per share increased by 19.0% to $13.34. The company's capital ratios remain well above regulatory requirements, reflecting robust financial health. Earnings per share for the quarter were $0.69, up 43.8% from $0.48.
Bank7 Corp. (NASDAQ: BSVN) will release its financial results for Q3 2021 before market opening on October 21, followed by a conference call at 3:30 PM CST. Investors can join the call via phone at 1-888-348-6421 or through a live webcast. The archive will be available for one year post-call. Bank7 operates nine branches across Oklahoma and Texas, focusing on business owners and entrepreneurs with tailored loan and deposit products. The company aims to grow organically and through strategic acquisitions.
Bank7 Corp. (NASDAQ: BSVN) has announced a definitive agreement to acquire Cornerstone Bank and its parent company. As of June 30, 2021, Cornerstone had assets of $241 million, total deposits of $215 million, and total loans amounting to $116 million. Following the acquisition, the combined institutions will have approximately $1.4 billion in assets. The deal is expected to close in Q4 2021 and will enhance Bank7's market presence with 12 branches across Oklahoma, Texas, and Kansas. Both parties' boards have unanimously approved the transaction, subject to regulatory and shareholder approvals.
Bank7 Corp. (NASDAQ: BSVN) has declared a quarterly cash dividend of $0.11 per share on its common stock. This dividend will be paid on October 7, 2021, to shareholders recorded as of the close of business on September 23, 2021. As a bank holding company, Bank7 focuses on serving business owners and entrepreneurs through its nine branches located in Oklahoma, Texas, and Kansas. The company aims to grow by opening more branches and pursuing strategic acquisitions.
Bank7 Corp. (NASDAQ: BSVN) reported exceptional results for Q2 2021, highlighting a 21.2% increase in net income to $6.1 million and a 24.9% rise in EPS to $0.67. Key metrics include a 12.8% growth in total assets, reaching $1.1 billion, and total loans increased by 11.2% to $932 million. The efficiency ratio improved to 35.02% from 35.33%, reflecting enhanced operational efficiency. The bank's capital ratios remained robust, well above regulatory minimums, reinforcing its financial stability.