Bank7 Corp. (NASDAQ:BSVN) Q1 2024 Earnings Call Transcript April 12, 2024
Bank7 Corp. beats earnings expectations. Reported EPS is $1.21, expectations were $1.04. BSVN isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Welcome to Bank7 Corp’s First Quarter Earnings Call. Before we get started, I’d like to highlight the legal information and disclaimer on Page 23 of the investor presentation. For those who do not have access to the presentation, management is going to discuss certain topics that contain forward-looking information, which is based on management’s beliefs as well as assumptions made by and information currently available to management. Although management believes that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to be correct. Such statements are subject to certain risks, uncertainties and assumptions, including among other things, the direct and indirect effect of economic conditions on interest rates, credit quality, loan demand, liquidity and monetary and supervisory policies of banking regulators should one or more of these risks materialize or should underlying assumptions prove incorrect, actual results may differ materially from those expected.
Also, please note that this conference call contains references to non-GAAP financial measures. You can find reconciliations of these non-GAAP financial measures to GAAP financial measures in an 8-K that was filed this morning by the company. Representing the company on today’s call, we have Tom Travis, President and CEO; Jason Estes, Chief Credit Officer; Kelly Harris, Chief Financial Officer. Please note, this event is being recorded. With that, I’ll turn the call over to Tom Travis. Please go ahead.
Thomas Travis : Good morning, everyone. Thank you for joining us. Well as you can see, we posted record earnings and record earnings per share and we are obviously very pleased with those results. It reflects our continued discipline on the way we manage our balance sheet, match up the interest rate risk and maintain our liquidity and you can tell that it’s been successful with our steady and strong NIM. And you can also see that the cost controls continue to be in place, which all adds up to really good results. And with regard to the loan book, the asset quality is very good, regardless of which vertical you view. And I know in this day and time, there’s a hyper focus on CRE. And I will tell you, we have no issues with our portfolio and no issues with our CRE and feel very confident about where we are and how we’re doing with asset quality. So with all that being said, we’ll turn it over for any questions that people might have.
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