Bank7 Corp. (NASDAQ:BSVN) Q2 2023 Earnings Call Transcript
Bank7 Corp. (NASDAQ:BSVN) Q2 2023 Earnings Call Transcript July 20, 2023
Bank7 Corp. beats earnings expectations. Reported EPS is $1.05, expectations were $0.96.
Operator: Good morning, everyone. Welcome to Bank7 Second Quarter Earnings Call. Before we get started, I'd like to highlight the legal information and disclaimer on Page 25 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 the 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 vary 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 Brad Haines, Chairman; Tom Travis, President and CEO; J.T. Phillips, Chief Operating Officer; Jason Estes, Chief Credit Officer; and Kelly Harris, Chief Financial Officer. With that, I would like to turn the floor over to Tom Travis.
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Tom Travis : Thank you. Good morning, and welcome, everyone. We were pleased with our quarter and pleased with our year-to-date. If you boil it all down to why we were able to again have record profits and earnings per share. It's really a story of sticking to your fundamentals, our fundamentals and relationship banking. And we're proud of the banking team that we have, the bankers, the executive management all the way down to the front line. And we're just continue to stay focused on our fundamentals and we are also mindful of what's going on in the market, and we're carrying excess liquidity just in case, and we're happy with the position of that balance sheet that continues to have no debt, extra liquidity and plenty of money for turbulent should it come into the markets again.
And so with that being said, it's not sexy and fancy, but fundamentals just don't go out of style as they say, and we're real pleased about it. And I think if you look back at the prior 2 quarters, earnings call commentary, maybe 3 quarters, the year has kind of shaped up the way we thought it would. And with the Fed continuing to increase rates, clearly, the funding costs have gone up, but we've managed our margin within our historical ranges and very happy about that. So with all that being said, we're happy to take any all calls or questions you may have. Thank you.
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