Bank7第二季淨收入跌25%至834.6萬美元 擬斥6800萬美元收購Century Financial

UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 ​

 FORM 10-Q

 ​

 
 ☒
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
 

 ​

 For the quarterly period ended June 30, 2026

 

 

 or

 

 

 
 ☐
 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
 

 ​

 For the transition period from     to    

 

 

 Commission file number: 001-38656

  

 BANK7 CORP.

 (Exact name of registrant as specified in its charter)

 

 

 Oklahoma
 ​
 20-0763496
 
 (State or other jurisdiction of incorporation or organization)
 ​
 (I.R.S. Employer Identification Number)
 
 
 

 

 1039 N.W. 63rd Street, Oklahoma City, Oklahoma
 ​
 73116-7361
 
 (Address of principal executive offices)
 ​
 (Zip Code)
 
 
  

 Registrant’s telephone number, including area code: (405) 810-8600

 Securities registered pursuant to Section 12(b) of the Act:

 

 

 Title of each class
 Trading Symbol(s)
 Name of each exchange on which
 registered
 
 Common Stock, $0.01 par value per Share
 BSVN
 The NASDAQ Global Select Market System
 
 
 ​Securities registered pursuant to Section 12(g) of the Act: None

 ​

 Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒   No ☐

  

 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files). Yes ☒   No ☐

  

 Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an “emerging growth company”. See
 definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

  

 Large accelerated filer
 ☐
 Accelerated filer
 ☒
 
 Non-accelerated filer
 ☐
 Smaller reporting company
 ☒
 
 Emerging growth company
 ☐
     
 
 

 

 If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
 provided pursuant to Section 13(a) of the Exchange Act. ☐

  

 Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐   No ☒

  

 As of August 10, 2026, the registrant had 9,525,856 shares of common stock, par value $0.01, outstanding.

  

 
 

 
 
 

 

 TABLE OF CONTENTS

  

 

 
  
  
 
 Page

 
 

 
 
 PART I.

 
 
 FINANCIAL INFORMATION

 
  
 

 
  
  
  
 

 
 
 Item 1.

 
 
 Financial Statements

 
  
 

 
  
 
 Unaudited Condensed Consolidated Balance Sheets

 
 
 2

 
 

 
  
 
 Unaudited Condensed Consolidated Statements of Comprehensive Income

 
 
 3

 
 

 
  
 
 Unaudited Condensed Consolidated Statements of Shareholders’ Equity

 
 
 4

 
 

 
  
 
 Unaudited Condensed Consolidated Statements of Cash Flows

 
 
 5

 
 

 
  
 
 Notes to Unaudited Condensed Consolidated Financial Statements

 
 
 6

 
 

 
 
 Item 2.

 
 
 Management’s Discussion and Analysis of Financial Condition and Results of Operations

 
 
 35

 
 

 
 
 Item 3.

 
 
 Quantitative and Qualitative Disclosures About Market Risk

 
 
 54

 
 

 
 
 Item 4.

 
 
 Controls and Procedures

 
 
 55

 
 

 
  
  
  
 

 
 
 PART II.

 
 
 OTHER INFORMATION

 
 
 56

 
 

 
  
  
  
 

 
 
 Item 1.

 
 
 Legal Proceedings

 
 
 
 56

 

 
 

 
 
 Item 1A.

 
 
 Risk Factors

 
 
 
 56

 

 
 

 
 
 Item 2.

 
 
 Unregistered Sales of Equity Securities and Use of Proceeds

 
 
 56

 
 

 
 
 Item 3.

 
 
 Defaults Upon Senior Securities

 
 
 56

 
 

 
 
 Item 4.

 
 
 Mine Safety Disclosures

 
 
 
 56

 

 
 

 
 
 Item 5.

 
 
 Other Information

 
 
 
 56

 

 
 

 
 
 Item 6.

 
 
 Exhibits

 
 
 57

 
 

 
  
 
 Signatures

 
 
 57

 
 

 
  

 
 
 

 
 Table

 of Contents

 

 

 Forward-Looking Statements

  

 This Form 10-Q contains forward-looking statements. These forward-looking statements reflect our current views with respect to, among other things, future events and our
 financial performance. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not
 always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or
 phrases. Any or all of the forward-looking statements in (or conveyed orally regarding) this presentation may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this presentation should not be regarded as a
 representation by us or any other person that the future plans, estimates or expectations contemplated by us will be achieved. We have based these forward-looking statements largely on its current expectations and projections about future events
 and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements as a result
 of risks, uncertainties and assumptions that are difficult to predict. Factors that could cause such differences are discussed in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K, and may be discussed from time to
 time in our other SEC filings, including our Quarterly Reports.  If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from
 what we anticipate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made and we undertake no obligation to update or revise any
 forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as may be required by law. All forward-looking statements herein are qualified
 by these cautionary statements.

  

 
 

 
 

 
 Table

 of Contents

 

 

 
 
 Bank7 Corp.

 Condensed Consolidated Balance Sheets

 (Dollar amounts in thousands, except par value and share data)

  

 

 

 
 
 Assets

 
  
 
 June 30,

 2026

 (unaudited)

 
  
  
 
 December 31,

 2025

 
  
 

 
 
  

 
  
  
  
  
  
  
 

 
 
 Cash and due from banks

 
  
 
 $

 
 220,585
 
  
  
 
 $

 
 244,635
 
  
 

 
 
 Interest-bearing time deposits in other banks

 
  
  
 1,494
 
  
  
  
 10,457
 
  
 

 
 Available-for-sale debt securities (amortized cost of $54,950 and $57,316 at June 30, 2026 and December 31, 2025, respectively)
 
 
  
  
 51,622
 
  
  
  
 54,019
 
  
 

 
 Loans, net of allowance for credit losses of $19,512 and $19,407 at June 30, 2026 and December 31, 2025, respectively
 
 
  
  
 1,577,838
 
  
  
  
 1,587,024
 
  
 

 
 
 Loans held for sale

 
  
  
 5,156
 
  
  
  
 2,078
 
  
 

 
 
 Premises and equipment, net

 
  
  
 25,897
 
  
  
  
 21,884
 
  
 

 
 
 Nonmarketable equity securities

 
  
  
 1,183
 
  
  
  
 1,165
 
  
 

 
 
 Core deposit intangibles

 
  
  
 690
 
  
  
  
 752
 
  
 

 
 
 Goodwill

 
  
  
 11,208
 
  
  
  
 11,208
 
  
 

 
 
 Interest receivable and other assets

 
  
  
 18,654
 
  
  
  
 30,418
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Total assets

 
  
 
 $

 
 1,914,327
 
  
  
 
 $

 
 1,963,640
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Liabilities and Shareholders’ Equity

 
  
  
  
  
  
  
  
  
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Deposits

 
  
  
  
  
  
  
  
  
 

 
 
 Noninterest-bearing

 
  
 
 $

 
 329,240
 
  
  
 
 $

 
 341,416
 
  
 

 
 
 Interest-bearing

 
  
  
 1,308,563
 
  
  
  
 1,359,417
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Total deposits

 
  
  
 1,637,803
 
  
  
  
 1,700,833
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Income taxes payable

 
  
  
 839
 
  
  
  
 594
 
  
 

 
 
 Interest payable and other liabilities

 
  
  
 9,379
 
  
  
  
 11,218
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Total liabilities

 
  
  
 1,648,021
 
  
  
  
 1,712,645
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Shareholders’ equity

 
  
  
  
  
  
  
  
  
 

 
 Common stock, $0.01 par value; 50,000,000 shares authorized; shares issued and outstanding: 9,519,335 and 9,462,656 at June 30, 2026 and December 31, 2025, respectively
 
 
 
  
  
 95
 
  
  
  
 95
 
  
 

 
 
 Additional paid-in capital

 
  
  
 103,865
 
  
  
  
 103,739
 
  
 

 
 
 Retained earnings

 
  
  
 164,919
 
  
  
  
 149,707
 
  
 

 
 
 Accumulated other comprehensive loss

 
  
  
 (2,573
 
 
 )

 
  
  
 (2,546
 
 
 )

 
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Total shareholders’ equity

 
  
  
 266,306
 
  
  
  
 250,995
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
 

 
 
 Total liabilities and shareholders’ equity

 
  
 
 $

 
 1,914,327
 
  
  
 
 $

 
 1,963,640
 
  
 

 
 

 

 See accompanying notes to Condensed Consolidated Financial Statements

 

 

 
 

 2

 
 

 
 Table

 of Contents

 

 

 
 
 
 Bank7 Corp.

 Unaudited Condensed Consolidated Statements of Comprehensive Income

 (Dollar amounts in thousands, except share and per share data)

  

 

 

 
 
  

 
  
 
 Three Months Ended

 June 30,

 
  
  
 
 Six Months Ended

 June 30,

 
  
 

 
 
  

 
  
 
 2026

 
  
  
 
 2025

 
  
  
 
 2026

 
  
  
 
 2025

 
  
 

 
 
 Interest Income

 
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Loans, including fees

 
  
 
 $

 
 28,980
 
  
  
 
 $

 
 28,965
 
  
  
 
 $

 
 60,592
 
  
  
 
 $

 
 56,293
 
  
 

 
 
 Interest-bearing time deposits in other banks

 
  
  
 38
 
  
  
  
 145
 
  
  
  
 150
 
  
  
  
 246
 
  
 

 
 
 Debt securities, taxable

 
  
  
 249
 
  
  
  
 278
 
  
  
  
 499
 
  
  
  
 561
 
  
 

 
 
 Debt securities, tax-exempt

 
  
  
 59
 
  
  
  
 63
 
  
  
  
 119
 
  
  
  
 126
 
  
 

 
 
 Other interest and dividend income

 
  
  
 1,601
 
  
  
  
 2,330
 
  
  
  
 3,350
 
  
  
  
 4,997
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Total interest income

 
  
  
 30,927
 
  
  
  
 31,781
 
  
  
  
 64,710
 
  
  
  
 62,223
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Interest Expense

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Deposits

 
  
  
 9,022
 
  
  
  
 10,043
 
  
  
  
 18,613
 
  
  
  
 19,643
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Total interest expense

 
  
  
 9,022
 
  
  
  
 10,043
 
  
  
  
 18,613
 
  
  
  
 19,643
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Net Interest Income

 
  
  
 21,905
 
  
  
  
 21,738
 
  
  
  
 46,097
 
  
  
  
 42,580
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Provision for Credit Losses

 
  
  
 -
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 -
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Net Interest Income After Provision for Credit Losses

 
  
  
 21,905
 
  
  
  
 21,738
 
  
  
  
 46,097
 
  
  
  
 42,580
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Noninterest Income

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Mortgage lending income

 
  
  
 476
 
  
  
  
 520
 
  
  
  
 851
 
  
  
  
 610
 
  
 

 
 
 Service charges on deposit accounts

 
  
  
 215
 
  
  
  
 232
 
  
  
  
 464
 
  
  
  
 450
 
  
 

 
 
 Other

 
  
  
 311
 
  
  
  
 1,949
 
  
  
  
 1,653
 
  
  
  
 3,396
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Total noninterest income

 
  
  
 1,002
 
  
  
  
 2,701
 
  
  
  
 2,968
 
  
  
  
 4,456
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Noninterest Expense

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Salaries and employee benefits

 
  
  
 6,196
 
  
  
  
 5,721
 
  
  
  
 12,527
 
  
  
  
 11,000
 
  
 

 
 
 Furniture and equipment

 
  
  
 422
 
  
  
  
 361
 
  
  
  
 763
 
  
  
  
 612
 
  
 

 
 
 Occupancy

 
  
  
 724
 
  
  
  
 630
 
  
  
  
 1,410
 
  
  
  
 1,222
 
  
 

 
 
 Data and item processing

 
  
  
 546
 
  
  
  
 590
 
  
  
  
 1,089
 
  
  
  
 1,100
 
  
 

 
 
 Accounting, marketing and legal fees

 
  
  
 437
 
  
  
  
 158
 
  
  
  
 1,022
 
  
  
  
 263
 
  
 

 
 
 Regulatory assessments

 
  
  
 259
 
  
  
  
 213
 
  
  
  
 518
 
  
  
  
 297
 
  
 

 
 
 Advertising and public relations

 
  
  
 98
 
  
  
  
 223
 
  
  
  
 270
 
  
  
  
 417
 
  
 

 
 
 Travel, lodging and entertainment

 
  
  
 104
 
  
  
  
 121
 
  
  
  
 174
 
  
  
  
 177
 
  
 

 
 
 Other

 
  
  
 3,106
 
  
  
  
 1,715
 
  
  
  
 4,456
 
  
  
  
 3,528
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Total noninterest expense

 
  
  
 11,892
 
  
  
  
 9,732
 
  
  
  
 22,229
 
  
  
  
 18,616
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Income Before Taxes

 
  
  
 11,015
 
  
  
  
 14,707
 
  
  
  
 26,836
 
  
  
  
 28,420
 
  
 

 
 
 Income tax expense

 
  
  
 2,669
 
  
  
  
 3,602
 
  
  
  
 6,484
 
  
  
  
 6,979
 
  
 

 
 
 Net Income

 
  
 
 $

 
 8,346
 
  
  
 
 $

 
 11,105
 
  
  
 
 $

 
 20,352
 
  
  
 
 $

 
 21,441
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Earnings per common share - basic

 
  
 
 $

 
 0.88
 
  
  
 
 $

 
 1.18
 
  
  
 
 $

 
 2.14
 
  
  
 
 $

 
 2.27
 
  
 

 
 
 Earnings per common share - diluted

 
  
  
 0.87
 
  
  
  
 1.16
 
  
  
  
 2.12
 
  
  
  
 2.25
 
  
 

 
 
 Weighted average common shares outstanding - basic

 
  
  
 9,519,335
 
  
  
  
 9,449,152
 
  
  
  
 9,505,283
 
  
  
  
 9,435,414
 
  
 

 
 
 Weighted average common shares outstanding - diluted

 
  
  
 9,604,143
 
  
  
  
 9,545,128
 
  
  
  
 9,600,421
 
  
  
  
 9,548,583
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Other Comprehensive Income (Loss)

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 Unrealized (losses) gains on securities, net of tax expense of $50 and $189 for the three months ended June 30, 2026 and 2025, respectively; net of tax (benefit) expense of ($5) and $419 for the six months ended June 30, 2026 and 2025, respectively
 
 
 
  
 $
 
 114
 
  
  
 $
 
 587
 
  
  
 $
 
 (27
 
 )
 
  
 $
 
 1,229
 
  
 

 
 
 Other comprehensive income (loss)

 
  
 
 $

 
 114
 
  
  
 
 $

 
 587
 
  
  
 
 $

 
 (27
 
 
 )

 
  
 
 $

 
 1,229
 
  
 

 
 
 Comprehensive Income

 
  
 
 $

 
 8,460
 
  
  
 
 $

 
 11,692
 
  
  
 
 $

 
 20,325
 
  
  
 
 $

 
 22,670
 
  
 

 
 

 

 

 
 See accompanying notes to Condensed Consolidated Financial Statements

 

 

 

 
 

 3

 
 

 
 Table of Contents

 

 

 
 Bank7 Corp.

 Unaudited Condensed Consolidated Statements of Shareholders’ Equity

 (Dollar amounts in thousands, except share and per share data)

  

 

 

 
  
  
 
 Three Months Ended

 June 30,

 
  
  
 
 Six Months Ended

 June 30,

 
  
 

 
  
  
 
 2026

 
  
  
 
 2025

 
  
  
 
 2026

 
  
  
 
 2025

 
  
 

 
 
 Common Stock  (Shares)

 
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Balance at beginning of period

 
  
  
 9,519,335
 
  
  
  
 9,448,237
 
  
  
  
 9,462,656
 
  
  
  
 9,390,211
 
  
 

 
 
 Exercise of employee stock options

 
  
  
 -
 
  
  
  
 1,000
 
  
  
  
 2,500
 
  
  
  
 8,063
 
  
 

 
 
 Shares issued for restricted stock units

 
  
  
 -
 
  
  
  
 125
 
  
  
  
 80,925
 
  
  
  
 74,463
 
  
 

 
 
 Shares acquired and retired

 
  
  
 -
 
  
  
  
 (43
 
 
 )

 
  
  
 (26,746
 
 
 )

 
  
  
 (23,418
 
 
 )

 
 

 
 
 Balance at end of period

 
  
  
 9,519,335
 
  
  
  
 9,449,319
 
  
  
  
 9,519,335
 
  
  
  
 9,449,319
 
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Common Stock (Amount)

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Balance at beginning of period

 
  
 
 $

 
 95
 
  
  
 
 $

 
 94
 
  
  
 
 $

 
 95
 
  
  
 
 $

 
 94
 
  
 

 
 
 Net shares purchased and retired for restricted stock units and issued for stock options

 
  
  
 -
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 -
 
  
 

 
 
 Balance at end of period

 
  
 
 $

 
 95
 
  
  
 
 $

 
 94
 
  
  
 
 $

 
 95
 
  
  
 
 $

 
 94
 
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Additional Paid-in Capital

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Balance at beginning of period

 
  
 
 $

 
 103,270
 
  
  
 
 $

 
 101,546
 
  
  
 
 $

 
 103,739
 
  
  
 
 $

 
 101,809
 
  
 

 
 
 Shares purchased and retired for restricted stock units

 
  
  
 -
 
  
  
  
 (2
 
 
 )

 
  
  
 (1,175
 
 
 )

 
  
  
 (1,017
 
 
 )

 
 

 
 
 Exercise of stock options

 
  
  
 -
 
  
  
  
 15
 
  
  
  
 48
 
  
  
  
 115
 
  
 

 
 
 Stock-based compensation expense

 
  
  
 595
 
  
  
  
 762
 
  
  
  
 1,253
 
  
  
  
 1,414
 
  
 

 
 
 Balance at end of period

 
  
 
 $

 
 103,865
 
  
  
 
 $

 
 102,321
 
  
  
 
 $

 
 103,865
 
  
  
 
 $

 
 102,321
 
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Retained Earnings

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Balance at beginning of period

 
  
 
 $

 
 159,143
 
  
  
 
 $

 
 124,349
 
  
  
 
 $

 
 149,707
 
  
  
 
 $

 
 116,281
 
  
 

 
 
 Net income

 
  
  
 8,346
 
  
  
  
 11,105
 
  
  
  
 20,352
 
  
  
  
 21,441
 
  
 

 
 Cash dividends declared ($0.27 and $0.24 per share for the three months ended
 June 30, 2026 and 2025, respectively; $0.54 and $0.48 per share for the six months
 ended June 30, 2026 and 2025, respectively)
 
  
  
 (2,570
 
 )
 
  
  
 (2,268
 
 )
 
  
  
 (5,140
 
 )
 
  
  
 (4,536
 
 )
 
 

 
 
 Balance at end of period

 
  
 
 $

 
 164,919
 
  
  
 
 $

 
 133,186
 
  
  
 
 $

 
 164,919
 
  
  
 
 $

 
 133,186
 
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Accumulated Other Comprehensive Loss

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Balance at beginning of period

 
  
 
 $

 
 (2,687
 
 
 )

 
  
 
 $

 
 (4,329
 
 
 )

 
  
 
 $

 
 (2,546
 
 
 )

 
  
 
 $

 
 (4,971
 
 
 )

 
 

 
 
 Comprehensive (loss) income

 
  
  
 114
 
  
  
  
 587
 
  
  
  
 (27
 
 
 )

 
  
  
 1,229
 
  
 

 
 
 Balance at end of period

 
  
 
 $

 
 (2,573
 
 
 )

 
  
 
 $

 
 (3,742
 
 
 )

 
  
 
 $

 
 (2,573
 
 
 )

 
  
 
 $

 
 (3,742
 
 
 )

 
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Total Shareholders’ equity

 
  
 
 $

 
 266,306
 
  
  
 
 $

 
 231,859
 
  
  
 
 $

 
 266,306
 
  
  
 
 $

 
 231,859
 
  
 

 
 

 

 See accompanying notes to Condensed Consolidated Financial Statements

  

 
 

 4

 
 

 
 Table of Contents

 

 

 
 Bank7 Corp.

 Unaudited Condensed Consolidated Statements of Cash Flows

 (Dollar amounts in thousands)

 

 

 

 

 
  
  
 
 Six Months Ended

 June 30,

 
  
 

 
  
  
 
 2026

 
  
  
 
 2025

 
  
 

 
  
  
  
  
  
  
  
 

 
 
 Operating Activities

 
  
  
  
  
  
  
 

 
 
 Net income

 
  
 
 $

 
 20,352
 
  
  
 
 $

 
 21,441
 
  
 

 
 
 Adjustments to reconcile net income to net cash provided by operating activities

 
  
  
  
  
  
  
  
  
 

 
 
 Depreciation and amortization

 
  
  
 580
 
  
  
  
 540
 
  
 

 
 
 Amortization of premiums on securities

 
  
  
 76
 
  
  
  
 110
 
  
 

 
 
 Gain on sales of loans held for sale

 
  
  
 (851
 
 
 )

 
  
  
 (610
 
 
 )

 
 

 
 
 Stock-based compensation expense

 
  
  
 1,253
 
  
  
  
 1,414
 
  
 

 
 
 Gain on sale of premises and equipment

 
  
  
 (33
 
 
 )

 
  
  
 -
 
  
 

 
 
 Cash receipts from the sale of loans originated for sale

 
  
  
 38,480
 
  
  
  
 24,185
 
  
 

 
 
 Cash disbursements for loans originated for sale

 
  
  
 (40,707
 
 
 )

 
  
  
 (26,116
 
 
 )

 
 

 
 
 Deferred income tax expense

 
  
  
 101
 
  
  
  
 384
 
  
 

 
 
 Loss on disposition of oil and gas assets

 
  
  
 2,084
 
  
  
  
 -
 
  
 

 
 
 Changes in

 
  
  
  
  
  
  
  
  
 

 
 
 Interest receivable and other assets

 
  
  
 4,117
 
  
  
  
 (111
 
 
 )

 
 

 
 
 Interest payable and other liabilities

 
  
  
 (1,309
 
 
 )

 
  
  
 (789
 
 
 )

 
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Net cash provided by operating activities

 
  
  
 24,143
 
  
  
  
 20,448
 
  
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Investing Activities

 
  
  
  
  
  
  
  
  
 

 
 
 Net cash paid for acquisition

 
  
  
 -
 
  
  
  
 (2,750
 
 
 )

 
 

 
 
 Proceeds from sale of oil and gas assets

 
  
  
 5,164
 
  
  
  
 -
 
  
 

 
 
 Maturities of interest-bearing time deposits in other banks

 
  
  
 8,963
 
  
  
  
 4,972
 
  
 

 
 
 Purchases of interest-bearing time deposits in other banks

 
  
  
 -
 
  
  
  
 (12,441
 
 
 )

 
 

 
 
 Maturities, prepayments and calls of available-for-sale debt securities

 
  
  
 2,289
 
  
  
  
 4,315
 
  
 

 
 
 Purchases of available-for-sale debt securities

 
  
  
 -
 
  
  
  
 (40
 
 
 )

 
 

 
 
 Net change in loans

 
  
  
 9,189
 
  
  
  
 (99,803
 
 
 )

 
 

 
 
 Purchases of premises and equipment

 
  
  
 (4,538
 
 
 )

 
  
  
 (3,442
 
 
 )

 
 

 
 
 Proceeds from sale of premises and equipment

 
  
  
 40
 
  
  
  
 -
 
  
 

 
 
 Proceeds from sale of nonmarketable equity securities

 
  
  
 (18
 
 
 )

 
  
  
 141
 
  
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Net cash provided by (used in) investing activities

 
  
  
 21,089
 
  
  
  
 (109,048
 
 
 )

 
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Financing Activities

 
  
  
  
  
  
  
  
  
 

 
 
 Net change in deposits

 
  
  
 (63,030
 
 
 )

 
  
  
 78,667
 
  
 

 
 
 Cash dividends paid

 
  
  
 (5,125
 
 
 )

 
  
  
 (4,522
 
 
 )

 
 

 
 
 Shares purchased and retired for restricted stock units

 
  
  
 (1,175
 
 
 )

 
  
  
 (1,017
 
 
 )

 
 

 
 
 Net settlement of stock options

 
  
  
 48
 
  
  
  
 115
 
  
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Net cash (used in) provided by financing activities

 
  
  
 (69,282
 
 
 )

 
  
  
 73,243
 
  
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Net Decrease in Cash and Due from Banks

 
  
  
 (24,050
 
 
 )

 
  
  
 (15,357
 
 
 )

 
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Cash and Due from Banks, Beginning of Period

 
  
  
 244,635
 
  
  
  
 234,196
 
  
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Cash and Due from Banks, End of Period

 
  
 
 $

 
 220,585
 
  
  
 
 $

 
 218,839
 
  
 

 
  
  
  
  
  
  
  
  
  
 

 
 
 Supplemental Disclosure of Cash Flows Information

 
  
  
  
  
  
  
  
  
 

 
 
 Interest paid

 
  
 
 $

 
 18,593
 
  
  
 
 $

 
 19,797
 
  
 

 
 
 Income taxes paid

 
  
 
 $

 
 6,138
 
  
  
 
 $

 
 7,239
 
  
 

 
 
 Dividends declared and not paid

 
  
 
 $

 
 2,570
 
  
  
 
 $

 
 2,268
 
  
 

 
 

 

 See accompanying notes to Condensed Consolidated Financial Statements

 

 
 

 5

 
 

 
 Table of Contents

 

 

 
 Bank7 Corp.

 Notes to Unaudited Condensed Consolidated Financial Statements

 

 

 

 Note 1: Nature of Operations and Summary of Significant Accounting Policies

  

 Nature of Operations

  

 Bank7 Corp. (the “Company”) is a bank holding company whose principal activity is the ownership and management of its wholly owned subsidiary, Bank7 (the “Bank”).  The Bank is primarily engaged in providing a full
 range of banking and financial services to individual and corporate customers located in Oklahoma, Texas, and Kansas.  The Bank is subject to competition from other financial institutions.  The Company is subject to the regulation of certain
 federal agencies and undergoes periodic examinations by those regulatory authorities.

  

 Basis of Presentation

  

 The accompanying unaudited interim condensed consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the
 financial position, results of operations, and cash flows of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the
 Company since December 31, 2025, the date of the most recent annual report.  The condensed consolidated balance sheet of the Company as of December 31, 2025 has been derived from the audited consolidated balance sheet of the Company as of that
 date. Certain information and notes normally included in the Company’s annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. The information contained in the financial
 statements and footnotes included in Company’s annual report for the year ended December 31, 2025, should be referred to in connection with these unaudited interim consolidated financial statements. Operating results for the interim periods
 disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.

  

 Principles of Consolidation

  

 The accompanying consolidated financial statements include the accounts of the Company, the Bank and its wholly-owned subsidiaries: First American Mortgage, LLC, which provides residential mortgage lending
 services, 1039 NW 63rd, LLC, which holds real estate utilized by the Bank, and, through the date of its dissolution in the second quarter of 2026, Giddings Production, LLC, which was engaged in the production of oil, natural gas and natural gas
 liquid (“NGL”) reserves in Texas. All significant intercompany accounts and transactions have been eliminated in consolidation.

  

 Segments

  

 The Company continues to operate as a single reportable segment, as described in Note 1 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. The Company’s chief operating decision-maker (“CODM”) is the Chief Executive Officer. The Company’s operations are managed and financial performance is evaluated on a Company-wide basis. The CODM uses net income and total assets to allocate resources across the Company and assess performance.

 

 

 Use of Estimates

  

 The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) 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.  Actual results could differ
 from those estimates.

  

 Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses.

 

 

 
 

 6

 
 

 
 Table of Contents

 
 Bank7 Corp.

 
 Notes to Unaudited Condensed Consolidated Financial Statements

 

 

 

 Recent Accounting Pronouncements

 

 

 Standards Adopted During Current Period:

  

 In December 2025, the FASB issued ASU 2025-12, Codification Improvements. This update includes a wide range of amendments to clarify, correct errors in, and make minor improvements to the Accounting Standards
 Codification. The Company adopted this ASU effective January 1, 2026. The adoption did not have a material impact on the Company’s consolidated financial statements.

  

 In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update provides a practical expedient
 allowing entities to assume that current economic conditions will remain unchanged for the life of short-term financial assets, such as trade receivables, that arise from contracts with customers. The Company adopted this ASU effective January 1,
 2026. The adoption did not have a material impact on the Company’s consolidated financial statements.

  

 In November 2024, the FASB issued ASU 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20): Induced Conversions of Convertible Debt Instruments. This ASU clarifies the requirements for determining
 whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. The Company adopted this ASU effective January 1, 2026. The Company does not currently have any convertible debt instruments; therefore,
 the adoption did not have a material impact on the Company’s consolidated financial position, results of operations, or disclosures.

  

 Standards Not Yet Adopted:

  

 In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. This update is intended to improve the clarity and consistency of interim reporting requirements. The
 amendments are effective for fiscal years beginning after December 15, 2026, and interim periods within those fiscal years. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.

  

 In November 2025, the FASB issued ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. This update aims to better align hedge accounting with an entity’s risk management activities. The
 amendments are effective for fiscal years beginning after December 15, 2026. The Company does not apply formal hedge accounting and therefore does not expect the adoption of this ASU to have a material impact on its consolidated financial
 statements.

  

 In October 2025, the FASB issued ASU 2025-08, Financial Instruments—Credit Losses (Topic 326): Purchased Loans. This ASU modifies the accounting for expected credit losses for purchased financial assets. The
 standard is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. As the Company has not acquired loans in the periods presented, the adoption of this ASU is not expected to have a material impact on its
 consolidated financial statements.

  

 In September 2025, the FASB issued ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606). This update provides targeted refinements to the scope of derivative
 accounting. The standard is effective for annual periods beginning after December 15, 2026. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.

 

 

 In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures. This ASU requires public business entities to disclose disaggregated information
 about certain expense captions, including compensation costs, depreciation and amortization, advertising costs, shipping and handling costs, and research and development costs, in the notes to their financial statements. The amendments are
 effective for fiscal years beginning after December 15, 2026, and interim periods beginning after December 15, 2027. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statement disclosures.

  

 Subsequent Events

  

 On July 1, 2026, the Company entered into a Stock Purchase Agreement with a court-appointed receiver to serve as a “stalking horse” bidder to acquire approximately 71% of the outstanding shares of Century Financial Services Corporation for a cash purchase price of $68.0 million.

  

 The proposed transaction is subject to a court-supervised auction process, the receipt of higher and better offers, court approval, and all required regulatory approvals, including approval from the Board of Governors of the Federal Reserve System. In connection with the agreement, the Company subsequently funded a required good-faith deposit of $7.3 million, which will be credited to the purchase price if the Company is the successful bidder. The agreement also provides that a break-up fee of $2.0 million will be payable to the Company if it is not selected as the successful bidder in the auction, among other specified circumstances.

  

 Due to the competitive bidding procedures and the contingent nature of the receivership proceeding, there can be no assurance that the Company will be the successful bidder or that the transaction will be
 consummated.

 

 
 

 7

 
 

 
 Table of Contents

 
 Bank7 Corp.

 
 Notes to Unaudited Condensed Consolidated Financial Statements

 

 

 

 Note 2: Recent Events, Including Mergers and Acquisitions

  

 Acquisition and Disposition of Oil and Natural Gas Properties

  

 On October 31, 2023, the Company entered into an asset purchase and sale agreement, effective September 1, 2023, to acquire proved oil and natural gas properties from HB2 Origination, LLC for a total purchase price of $15.1 million, after closing adjustments.

  

 On April 10, 2026, the Company completed the sale of these proved oil and natural gas properties for a base purchase price of $5.2 million. The transaction had an effective date of April 1, 2026. After customary closing adjustments, the Company received net cash proceeds of $5.2 million. At the time of the sale, the assets had a remaining net book value of $7.8 million. In connection with the sale, the purchaser assumed the associated asset retirement obligations of $0.3 million, which, along with miscellaneous adjustments of $0.2 million, resulted in a recognized pre-tax loss of $2.1 million during the second quarter of 2026. The disposition did not represent a strategic shift that will have a major effect on the Company’s operations and financial results. As such, the transaction did not qualify for discontinued operations reporting, and the loss on sale, along with the historical results of the oil and gas operations, are included within continuing operations.

  

 Following the sale, the Company had no oil and gas assets or related asset retirement obligations remaining on its consolidated balance sheets as of June 30, 2026. For comparison, the Company had oil and gas assets and related receivables included in interest receivable and other assets on the consolidated balance sheets of $8.9 million, and asset retirement obligations and oil and gas related liabilities included in interest payable and other liabilities of $0.8 million as of December 31, 2025.

  

 The Company had oil and gas related revenues included in “Other” noninterest income on the consolidated statements of comprehensive income of $0 and $0.9 million for the three and six months ended June 30, 2026, respectively, compared to $1.6 million and $2.7 million for the three and six months ended June 30, 2025.

  

 The Company had oil and gas related expenses included in “Other” noninterest expense on the consolidated statements of comprehensive income of $2.0 million and $2.6 million for the three and six months ended June 30, 2026, respectively, compared to $0.9 million and $2.0 million for the three and six months ended June 30, 2025. The oil and gas related expenses for the three and six months ended June 30, 2026, include the $2.1 million pre-tax loss recognized on the sale of the assets.

 

 
 

 8

 
 

 
 Table of Contents

 
 Bank7 Corp.

 
 Notes to Unaudited Condensed Consolidated Financial Statements

 

 

 

 Note 3: Earnings per Share

  

 Basic earnings per common share represents the amount of earnings for the period available to each share of common stock outstanding during the reporting period. Basic earnings per share (“EPS”) is computed based
 upon net income divided by the weighted average number of common shares outstanding during the period.

  

 Diluted EPS represents the amount of earnings for the period available to each share of common stock outstanding including common stock that would have been outstanding assuming the issuance of common shares for
 all dilutive potential common shares outstanding during each reporting period. Diluted EPS is computed based upon net income divided by the weighted average number of common shares outstanding during each period, adjusted for the effect of
 dilutive potential common shares, such as restricted stock awards and nonqualified stock options, calculated using the treasury stock method.

  

 The following table shows the computation of basic and diluted earnings per share:

  

 

 
 
  

 
  
 As of and for the three months
 ended June 30,
 
  
  
 As of and for the six months
 ended June 30,
 
  
 

 
 
  

 
  
 2026
 
  
  
 2025
 
  
  
 2026
 
  
  
 2025
 
  
 

 
 (Dollars in thousands, except share and per share amounts)
 
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Numerator

 
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Net income

 
  
 
 $

 
 8,346
 
  
  
 
 $

 
 11,105
 
  
  
 
 $

 
 20,352
 
  
  
 
 $

 
 21,441
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Denominator

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Weighted-average shares outstanding for basic earnings per share

 
  
  
 9,519,335
 
  
  
  
 9,449,152
 
  
  
  
 9,505,283
 
  
  
  
 9,435,414
 
  
 

 
 
 Dilutive effect of stock compensation(1)

 
  
  
 84,808
 
  
  
  
 95,976
 
  
  
  
 95,138
 
  
  
  
 113,169
 
  
 

 
 
 Denominator for diluted earnings per share

 
  
  
 9,604,143
 
  
  
  
 9,545,128
 
  
  
  
 9,600,421
 
  
  
  
 9,548,583
 
  
 

 
 
  

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Earnings per common share

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Basic

 
  
 
 $

 
 0.88
 
  
  
 
 $

 
 1.18
 
  
  
 
 $

 
 2.14
 
  
  
 
 $

 
 2.27
 
  
 

 
 
 Diluted

 
  
 
 $

 
 0.87
 
  
  
 
 $

 
 1.16
 
  
  
 
 $

 
 2.12
 
  
  
 
 $

 
 2.25
 
  
 

 
 

 

 (1) The following have not been included in diluted earnings per share because to do so would have been antidilutive for the periods presented: Restricted stock units of 0 and 64,992 for the three month periods ended June 30, 2026 and 2025, respectively, and 0 and 64,992 for the six month periods ended June 30, 2026 and 2025, respectively.

 

 

 
 

 9

 
 

 
 Table of Contents

 
 Bank7 Corp.

 
 Notes to Unaudited Condensed Consolidated Financial Statements

 

 

 

 Note 4: Debt Securities

  

 The following table summarizes the amortized cost and fair value of debt securities available-for-sale at June 30, 2026 and December 31, 2025 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income:

  

 

 
  
 (in thousands)
 
  
 Amortized Cost
 
  
  
 Gross Unrealized
 Gains
 
  
  
 Gross Unrealized
 Losses
 
  
  
 Fair Value
 
  
 

 
  
  
  
  
  
  
  
  
 

 
 Available-for-sale as of June 30, 2026
 
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Mortgage-backed securities(1)(2)

 
  
  
 26,043
 
  
  
  
 -
 
  
  
  
 (1,973
 
 
 )

 
  
  
 24,070
 
  
 

 
 
 State and political subdivisions

 
  
  
 17,400
 
  
  
  
 -
 
  
  
  
 (666
 
 
 )

 
  
  
 16,734
 
  
 

 
 
 U.S. treasuries

 
  
  
 6,007
 
  
  
  
 -
 
  
  
  
 (423
 
 
 )

 
  
  
 5,584
 
  
 

 
 
 Corporate debt securities

 
  
  
 5,500
 
  
  
  
 -
 
  
  
  
 (266
 
 
 )

 
  
  
 5,234
 
  
 

 
 
 Total available-for-sale

 
  
  
 54,950
 
  
  
  
 -
 
  
  
  
 (3,328
 
 
 )

 
  
  
 51,622
 
  
 

 
 
 Total debt securities

 
  
 
 $

 
 54,950
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 (3,328
 
 
 )

 
  
 
 $

 
 51,622
 
  
 

 
 

 

 

 
  
 (in thousands)
 
  
 Amortized Cost
 
  
  
 Gross Unrealized
 Gains
 
  
  
 Gross Unrealized
 Losses
 
  
  
 Fair Value
 
  
 

 
  
  
  
  
  
  
  
  
 

 
 Available-for-sale as of December 31, 2025
 
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 U.S. federal agencies

 
  
 
 $

 
 21
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 21
 
  
 

 
 
 Mortgage-backed securities(1)(2)

 
  
  
 27,311
 
  
  
  
 -
 
  
  
  
 (1,879
 
 
 )

 
  
  
 25,432
 
  
 

 
 
 State and political subdivisions

 
  
  
 18,473
 
  
  
  
 -
 
  
  
  
 (699
 
 
 )

 
  
  
 17,774
 
  
 

 
 
 U.S. treasuries

 
  
  
 6,011
 
  
  
  
 -
 
  
  
  
 (403
 
 
 )

 
  
  
 5,608
 
  
 

 
 
 Corporate debt securities

 
  
  
 5,500
 
  
  
  
 -
 
  
  
  
 (316
 
 
 )

 
  
  
 5,184
 
  
 

 
 
 Total available-for-sale

 
  
  
 57,316
 
  
  
  
 -
 
  
  
  
 (3,297
 
 
 )

 
  
  
 54,019
 
  
 

 
 
 Total debt securities

 
  
 
 $

 
 57,316
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 (3,297
 
 
 )

 
  
 
 $

 
 54,019
 
  
 

 
 

 

 (1) All mortgage-backed securities and collateralized mortgage obligations are issued and/or guaranteed by U.S. government agencies or U.S. government-sponsored entities.
 (2) Included in amortized cost of mortgage-backed securities is $17.95 million and $19.09 million of residential mortgage-backed securities and $8.10 million and $8.22 million of commercial mortgage-backed securities as of June 30, 2026 and December 31, 2025, respectively.

 

 

 
 

 10

 
 

 
 Table of Contents

 
 Bank7 Corp.

 
 Notes to Unaudited Condensed Consolidated Financial Statements

 

 

 

 The amortized cost and estimated fair value of investment securities at June 30, 2026 and December 31, 2025, by contractual maturity, are shown below. The expected life of mortgage-backed securities will differ from contractual maturities because borrowers may have the right to call or prepay the underlying mortgage loans with or without call or prepayment penalties.

  

 

 
 
 (in thousands)

 
  
 
 Amortized Cost

 
  
  
 
 Fair Value

 
  
 

 
 
 Available-for-sale as of June 30, 2026

 
  
  
  
  
  
  
 

 
 
 Due in one year or less

 
  
 
 $

 
 4,204
 
  
  
 
 $

 
 4,183
 
  
 

 
 
 Due after one year through five years

 
  
  
 15,324
 
  
  
  
 14,512
 
  
 

 
 
 Due after five years through ten years

 
  
  
 9,379
 
  
  
  
 8,857
 
  
 

 
 
 Due after ten years

 
  
  
 -
 
  
  
  
 -
 
  
 

 
 
 Mortgage-backed securities

 
  
  
 26,043
 
  
  
  
 24,070
 
  
 

 
 
 Total available-for-sale

 
  
 
 $

 
 54,950
 
  
  
 
 $

 
 51,622
 
  
 

 
 

 

 

 
 
 (in thousands)

 
  
 
 Amortized Cost

 
  
  
 
 Fair Value

 
  
 

 
 
 Available-for-sale as of December 31, 2025

 
  
  
  
  
  
  
 

 
 
 Due in one year or less

 
  
 
 $

 
 4,941
 
  
  
 
 $

 
 4,889
 
  
 

 
 
 Due after one year through five years

 
  
  
 13,920
 
  
  
  
 13,274
 
  
 

 
 
 Due after five years through ten years

 
  
  
 11,144
 
  
  
  
 10,424
 
  
 

 
 
 Due after ten years

 
  
  
 -
 
  
  
  
 -
 
  
 

 
 
 Mortgage-backed securities

 
  
  
 27,311
 
  
  
  
 25,432
 
  
 

 
 
 Total available-for-sale

 
  
 
 $

 
 57,316
 
  
  
 
 $

 
 54,019
 
  
 

 
 

 

 There were no holdings of securities of issuers in an amount greater than 10% of stockholders’ equity at June 30, 2026.

 

 

 The following table presents a summary of realized gains and losses from the sale, prepayment and call of debt securities for the three and six months ended June 30, 2026 and June 30, 2025.

  

 

 
  
  
 
 Three Months Ended

 June 30,

 
  
  
 
 Six Months Ended

 June 30,

 
  
 

 
  
  
 
 2026

 
  
  
 
 2025

 
  
  
 
 2026

 
  
  
 
 2025

 
  
 

 
 
 (in thousands)

 
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Proceeds from sales, maturities, prepayments and calls

 
  
 
 $

 
 645
 
  
  
 
 $

 
 3,170
 
  
  
 
 $

 
 2,289
 
  
  
 
 $

 
 4,315
 
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 Gross realized gains on sales, prepayments and calls

 
  
  
 -
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 -
 
  
 

 
 
 Gross realized losses on sales, prepayments and calls

 
  
  
 -
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 -
 
  
 

 
 
 Total realized (losses), net

 
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
 

 
 

 

 The following table details book value of pledged securities as of June 30, 2026 and December 31, 2025:

  

 

 
 
 (in thousands)

 
  
 
 June 30,

 2026

 
 

 
 
 December 31,

 2025

 
  
 

 
  
  
 

 
 
 Book value of pledged securities

 
  
 
 $

 
 17,026
 
  
  
 
 $

 
 17,288
 
  
 

 
 

 

 
 

 11

 
 

 
 Table of Contents

 
 Bank7 Corp.

 
 Notes to Unaudited Condensed Consolidated Financial Statements

 

 

 

 The following table details gross unrealized losses and fair values of investment securities aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position at June 30, 2026 and December 31, 2025. As of June 30, 2026, the Company had the ability and intent to hold the debt securities classified as available-for-sale for a period of time sufficient for a recovery of cost. The unrealized losses are due to increases in market interest rates over the yields available at the time the underlying debt securities were purchased or acquired. The fair value of those debt securities having unrealized losses is expected to recover as the securities approach their maturity date or repricing date, or if market yields for such investments decline. Management has no intent or requirement to sell before the recovery of the unrealized loss; therefore, no impairment loss was realized in the Company’s consolidated statements of comprehensive income. As of June 30, 2026 and December 31, 2025, there was no allowance for credit losses recorded related to investment securities.

  

 

 
 

  

  

 
  
 Number of
 Investments
 
  
  
 Less than Twelve Months
 
  
  
 Twelve Months or Longer
 
  
  
 Total
 
  
 

 
  
  
  
   Fair Value
 
  
  
 Gross Unrealized
 Losses
 
  
  
   Fair Value
 
  
  
 Gross Unrealized
 Losses
 
  
  
   Fair Value
 
  
  
 Gross Unrealized
 Losses
 
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 (in thousands)
 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 Available-for-sale as of June 30, 2026
 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 U.S. federal agencies

 
  
  
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
 

 
 
 Mortgage-backed securities

 
  
  
 23
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 24,070
 
  
  
  
 (1,973
 
 
 )

 
  
  
 24,070
 
  
  
  
 (1,973
 
 )
 
 

 
 
 State and political subdivisions(1)

 
  
  
 52
 
  
  
  
 75
 
  
  
  
 -
 
  
  
  
 16,159
 
  
  
  
 (666
 
 
 )

 
  
  
 16,234
 
  
  
  
 (666
 
 )
 
 

 
 
 U.S. treasuries

 
  
  
 6
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 5,584
 
  
  
  
 (423
 
 
 )

 
  
  
 5,584
 
  
  
  
 (423
 
 )
 
 

 
 
 Corporate debt securities(2)

 
  
  
 4
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 5,234
 
  
  
  
 (266
 
 
 )

 
  
  
 5,234
 
  
  
  
 (266
 
 )
 
 

 
 
 Total available-for-sale

 
  
  
 85
 
  
  
 
 $

 
 75
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 51,047
 
  
  
 
 $

 
 (3,328
 
 
 )

 
  
 
 $

 
 51,122
 
  
  
 
 $

 
 (3,328
 
 )
 
 

 
 

 

  

 

 
 
  

  

 
  
 Number of
 Investments
 
  
  
 Less than Twelve Months
 
  
  
 Twelve Months or Longer
 
  
  
 Total
 
  
 

 
  
  
  
   Fair Value
 
  
  
 Gross Unrealized
 Losses
 
  
  
   Fair Value
 
  
  
 Gross Unrealized
 Losses
 
  
  
   Fair Value
 
  
  
 Gross Unrealized
 Losses
 
  
 

 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 (in thousands)
 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 Available-for-sale as of December 31, 2025
 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 

 
 
 U.S. federal agencies

 
  
  
 1
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 2
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 2
 
  
  
 
 $

 
 -
 
  
 

 
 
 Mortgage-backed securities

 
  
  
 23
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 25,432
 
  
  
  
 (1,879
 
 
 )

 
  
  
 25,432
 
  
  
  
 (1,879
 
 )
 
 

 
 
 State and political subdivisions(1)

 
  
  
 54
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 17,201
 
  
  
  
 (699
 
 
 )

 
  
  
 17,201
 
  
  
  
 (699
 
 )
 
 

 
 
 U.S. treasuries

 
  
  
 6
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 5,608
 
  
  
  
 (403
 
 
 )

 
  
  
 5,608
 
  
  
  
 (403
 
 )
 
 

 
 
 Corporate debt securities(2)

 
  
  
 4
 
  
  
  
 -
 
  
  
  
 -
 
  
  
  
 5,184
 
  
  
  
 (316
 
 
 )

 
  
  
 5,184
 
  
  
  
 (316
 
 )
 
 

 
 
 Total available-for-sale

 
  
  
 88
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 -
 
  
  
 
 $

 
 53,427
 
  
  
 
 $

 
 (3,297
 
 
 )

 
  
 
 $

 
 53,427
 
  
  
 
 $

 
 (3,297
 
 )
 
 

 
 

 

 
 (1) The state and political subdivision securities, $15.28 million and $16.33 million are rated BBB+ or better and $1.45 million and $1.45 million are not rated as of June 30, 2026 and December 31, 2025, respectively.
 (2) The corporate debt securities are not rated.

 

 

 
 

 12

 
 

 
 Table of Contents

 
 Bank7 Corp.

 
 Notes to Unaudited Condensed Consolidated Financial Statements