# Bank7 Corp. (BSVN)

Informational only - not investment advice.

CIK: 0001746129
SIC: 6022 State Commercial Banks
SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6022 State Commercial Banks](/industry/6022/)
Latest 10-K filed: 2026-03-17
SEC page: https://www.sec.gov/edgar/browse/?CIK=1746129
Filing source: https://www.sec.gov/Archives/edgar/data/1746129/000114036126009657/ef20060654_10k.htm

## At a glance

FY2025 · period end 2025-12-31 · filed 2026-03-17 · accession 0001140361-26-009657 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001746129.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 128,758,000 USD | 2025 | verified |
| Net income | 43,069,000 USD | 2025 | verified |
| Assets | 1,963,640,000 USD | 2025 | verified |
| Free cash flow | 41,396,000 USD | 2025 | computed |
| Net margin | 33.45% | 2025 | computed |
| Revenue YoY | -2.11% | 2025 | computed |
| ROE | 17.16% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | BSVN | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 33.4% | 21.9% | 94 | 149 |
| Revenue growth | -2.1% | 6.0% | 13 | 148 |
| FCF margin | 32.2% | 23.8% | 78 | 133 |
| ROE | 17.2% | 9.6% | 99 | 149 |
| ROA | 2.2% | 1.1% | 99 | 149 |
| Liabilities / equity | 6.82 | 8.04 | 25 | 149 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6022 State Commercial Banks, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 128758000 | USD | 2025 | 2026-03-17 |
| Net income | 43069000 | USD | 2025 | 2026-03-17 |
| Assets | 1963640000 | USD | 2025 | 2026-03-17 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-17. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001746129.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 33,153,000 | 42,870,000 | 46,800,000 | 51,709,000 | 53,314,000 | 56,289,000 | 78,749,000 | 121,544,000 | 131,540,000 | 128,758,000 |
| Net income | 16,817,000 | 23,789,000 | 25,000,000 | 8,225,000 | 19,266,000 | 23,159,000 | 29,638,000 | 28,275,000 | 45,698,000 | 43,069,000 |
| Diluted EPS | 2.31 | 3.26 | 3.03 | 0.81 | 2.05 | 2.55 | 3.22 | 3.05 | 4.84 | 4.50 |
| Operating cash flow | 19,357,000 | 25,877,000 | 27,001,000 | 19,180,000 | 25,235,000 | 30,133,000 | 39,714,000 | 49,125,000 | 55,046,000 | 46,136,000 |
| Capital expenditures | 2,319,000 | 3,969,000 | 378,000 | 3,100,000 | 438,000 | 599,000 | 294,000 | 2,834,000 | 4,197,000 | 4,740,000 |
| Dividends paid | 6,995,000 | 9,749,000 | 56,155,000 | 1,006,000 | 7,803,000 | 3,982,000 | 4,366,000 | 6,323,000 | 8,057,000 | 9,342,000 |
| Assets |  | 703,594,000 | 770,511,000 | 866,392,000 | 1,016,669,000 | 1,350,549,000 | 1,584,169,000 | 1,771,666,000 | 1,739,808,000 | 1,963,640,000 |
| Liabilities |  | 634,418,000 | 682,045,000 | 766,266,000 | 909,350,000 | 1,223,141,000 | 1,440,069,000 | 1,601,340,000 | 1,526,595,000 | 1,712,645,000 |
| Stockholders' equity | 55,136,000 | 69,176,000 | 88,466,000 | 100,126,000 | 107,319,000 | 127,408,000 | 144,100,000 | 170,326,000 | 213,213,000 | 250,995,000 |
| Free cash flow | 17,038,000 | 21,908,000 | 26,623,000 | 16,080,000 | 24,797,000 | 29,534,000 | 39,420,000 | 46,291,000 | 50,849,000 | 41,396,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin | 50.73% | 55.49% | 53.42% | 15.91% | 36.14% | 41.14% | 37.64% | 23.26% | 34.74% | 33.45% |
| Return on equity | 30.50% | 34.39% | 28.26% | 8.21% | 17.95% | 18.18% | 20.57% | 16.60% | 21.43% | 17.16% |
| Return on assets |  | 3.38% | 3.24% | 0.95% | 1.90% | 1.71% | 1.87% | 1.60% | 2.63% | 2.19% |
| Liabilities / equity |  | 9.17 | 7.71 | 7.65 | 8.47 | 9.60 | 9.99 | 9.40 | 7.16 | 6.82 |

## As-reported value updates

No tracked differences above grepcent's stated thresholds and capped precision rule were found between the earliest XBRL-filed value and the value currently on file for the standardized annual metrics grepcent tracks.


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-10. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001746129.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | 0.87 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | 1.04 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  |  | 1.05 | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 31,722,000 | 7,853,000 | 0.85 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 32,400,000 | 1,069,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-31 | 33,287,000 | 11,288,000 | 1.21 | reported discrete quarter |
| 2024-Q2 | 2024-06-30 | 32,436,000 | 11,524,000 | 1.23 | reported discrete quarter |
| 2024-Q3 | 2024-09-30 | 33,488,000 | 11,777,000 | 1.24 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 32,330,000 | 11,109,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-31 | 30,438,000 | 10,336,000 | 1.08 | reported discrete quarter |
| 2025-Q2 | 2025-06-30 | 31,781,000 | 11,105,000 | 1.16 | reported discrete quarter |
| 2025-Q3 | 2025-09-30 | 33,717,000 | 10,844,000 | 1.13 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 32,816,000 | 10,784,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-03-31 | 33,783,000 | 12,006,000 | 1.25 | reported discrete quarter |
| 2026-Q2 | 2026-06-30 | 30,927,000 | 8,346,000 | 0.87 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from BSVN's latest 10-K: [/company/BSVN/business/](/company/BSVN/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from BSVN's latest 10-K: [/company/BSVN/risk-factors/](/company/BSVN/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1746129/000114036126032024/bsvn-20260630.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-08-10
Report date: 2026-06-30

ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes included elsewhere in this
Quarterly Report and in our Annual Report on Form 10-K for the year ended December 31, 2025.

Unless the context indicates otherwise, references in this management’s discussion and analysis to “we,” “our,” and “us,” refer to Bank7 Corp. and its consolidated
subsidiaries.  All references to “the Bank” refer to Bank7, our wholly owned subsidiary.

General

We are Bank7 Corp., a bank holding company headquartered in Oklahoma City, Oklahoma. Through our wholly-owned subsidiary, Bank7, we operate twelve full-service branches in Oklahoma, the Dallas/Fort Worth, Texas metropolitan area and Kansas.
We are focused on serving business owners and entrepreneurs by delivering fast, consistent and well-designed loan and deposit products to meet their financing needs. We intend to grow organically by selectively opening additional branches in
our target markets and we will also pursue strategic acquisitions.

As a bank holding company, we generate most of our revenue from interest income on loans and from short-term investments. The primary source of funding for our loans and short-term investments are
deposits held by our subsidiary, Bank7. We measure our performance by our return on average assets, return on average equity, earnings per share, capital ratios, and efficiency ratio, which is calculated by dividing noninterest expense by the
sum of net interest income on a tax equivalent basis and noninterest income.

Q2 2026 Overview

We reported total loans of $1.60 billion as of June 30, 2026, an increase of $100.0 million, or 6.7%, from June 30, 2025. Total deposits were $1.64 billion as of June 30, 2026, an increase of $43.7
million, or 2.7%, from June 30, 2025.

Income before taxes was $11.0 million, a decrease of $3.7 million, or 25.1%, for the three months ended June 30, 2026 as compared to income before taxes of $14.7
million for the same period in 2025. Income before taxes was $26.8 million, a decrease of $1.6 million, or 5.6%, for the six months ended

June 30, 2026 as compared to income before taxes of $28.4 million for the same period in 2025.

Pre-tax return on average assets and return on average equity was 2.37% and 16.76%, respectively for the three months ended June 30, 2026, as compared to 3.27% and
25.99%, respectively, for the same period in 2025. Pre-tax return on average assets and return on average equity was 2.87% and 20.83%, respectively for the six months ended June 30, 2026, as compared to 3.24% and 25.74%, respectively, for the same period in 2025.  Our efficiency ratio for the three
months ended June 30, 2026 was 52.05% as compared to 39.95% for the same period in 2025. Our efficiency ratio for the six months ended June 30, 2026 was 45.18% as compared to 39.44% for the same period in 2025. The increases in the efficiency ratios for the 2026 periods were primarily driven by the disposition
of the Company’s oil and gas assets in the second quarter, which resulted in a $2.1 million pre-tax loss recorded in noninterest expense and a corresponding reduction in oil and gas related noninterest income.

35

Table of Contents

Sale of Oil and Gas Assets

During the second quarter of 2026, management successfully completed its objective to maximize the loan loss recovery related to an oil and gas loan. To refresh memories, in the fourth quarter of 2023, management
expended $16.5 million to acquire certain oil and gas assets. Over the holding period, the Company received cash proceeds from oil and gas sales of $15.0 million, and when that is combined with the final second quarter sale proceeds of $5.2
million, the total cash recovery of $20.2 million exceeds the initial $16.5 million cash outlay by $3.7 million. Over the holding period from the fourth quarter of 2023 through the disposition in the second quarter of 2026, these assets
generated cumulative pre-tax net income of approximately $3.7 million (which includes the $2.1 million non-cash loss on sale recognized in the second quarter), which we believe is the most directly comparable GAAP measure to the non-GAAP cash
summary presented below.

GAAP to Non-GAAP Reconciliation for Oil and Gas Assets (dollars in thousands):

[[GREPCENT_TABLE]]
[["","","Acquisition Date through June 30, 2026"],["Income before taxes","","$","5,783"],["Less: Loss on sale of oil and gas assets","","","(2,084",")"],["GAAP Income before taxes","","$","3,699"],["Add back non-cash expenses:"],["Depletion","","","9,134"],["Amortization & accretion","","","81"],["Loss on sale of oil and gas assets","","","2,084"],["Net cash flow from operations (Non-GAAP)","","$","14,998"],["Remaining accruals to be settled","","","-"],["Add: Sales proceeds from final disposition (April 2026)","","","5,164"],["Total cash generated by asset (Non-GAAP)","","$","20,162"],["Less: Initial cash outlay for acquisition (Q4 2023)","","","(16,487",")"],["Net cash returned (Non-GAAP)","","$","3,675"],["Initial cash outlay for acquisition (Q4 2023)","","$","(16,487",")"],["Cash inflows:"],["Net cash receipts from operator statements","","","15,233"],["Sales proceeds from minor asset sales (2024)","","","17"],["Sales proceeds from final disposition (April 2026)","","","5,164"],["Total cash inflows","","$","20,414"],["Cash outflows:"],["Transaction costs and other adjustments","","","(252",")"],["Total Cash outflows","","$","(252",")"],["Net cash returned (Non-GAAP)","","$","3,675"]]
[[/GREPCENT_TABLE]]

Net Cash Returned is a non-GAAP financial measure used by management to analyze the cash cycle of this specific investment. This measure has significant limitations and is not a substitute for results prepared in
accordance with U.S. GAAP. It should not be considered in isolation or as an alternative to net income. This measure is reconciled from income before taxes by adding back only the non-cash expenses shown in the table above.

36

Table of Contents

Results of Operations

Net Interest Income and Net Interest Margin

The following table presents, for the periods indicated, information about: (i) weighted average balances, the total dollar amount of interest income from interest-earning assets, and the resultant average yields; (ii) average balances, the
total dollar amount of interest expense on interest-bearing liabilities, and the resultant average rates; (iii) net interest income; and (iv) the net interest margin.

[[GREPCENT_TABLE]]
[["","","Net Interest Margin"],["","","For the Three Months Ended June 30,"],["","","2026","","","2025"],["","","Average Balance","","","Interest Income/ Expense","","","Average Yield/ Rate","","","Average Balance","","","Interest Income/ Expense","","","Average Yield/ Rate"],["","","(Dollars in thousands)"],["Interest-earning assets:"],["Short-term investments","","$","184,292","","","$","1,639","","","","3.57","%","","$","247,652","","","$","2,475","","","","4.01","%"],["Debt securities, taxable","","","42,166","","","","249","","","","2.37","","","","47,285","","","","278","","","","2.36"],["Debt securities, tax exempt(1)","","","10,975","","","","59","","","","2.16","","","","12,502","","","","63","","","","2.02"],["Loans held for sale","","","1,998","","","","-","","","","-","","","","1,987","","","","-","","","","-"],["Total loans(2)","","","1,588,481","","","","28,980","","","","7.32","","","","1,448,924","","","","28,965","","","","8.02"],["Total interest-earning assets","","","1,827,912","","","$","30,927","","","","6.79","","","","1,758,350","","","$","31,781","","","","7.25"],["Noninterest-earning assets","","","35,384","","","","","","","","","","","","43,048"],["Total assets","","$","1,863,296","","","","","","","","","","","$","1,801,398"],["Funding sources:"],["Interest-bearing liabilities:"],["Deposits:"],["Transaction accounts","","$","1,003,124","","","$","6,721","","","","2.69","%","","$","1,006,484","","","$","7,676","","","","3.06","%"],["Time deposits","","","262,081","","","","2,301","","","","3.52","","","","236,108","","","","2,367","","","","4.02"],["Total interest-bearing deposits","","","1,265,205","","","","9,022","","","","2.86","","","","1,242,592","","","","10,043","","","","3.24"],["Total interest-bearing liabilities","","","1,265,205","","","","9,022","","","","2.86","","","","1,242,592","","","","10,043","","","","3.24"],["Noninterest-bearing liabilities:"],["Noninterest-bearing deposits","","","325,384","","","","","","","","","","","","321,351"],["Other noninterest-bearing liabilities","","","9,157","","","","","","","","","","","","10,471"],["Total noninterest-bearing liabilities","","","334,541","","","","","","","","","","","","331,822"],["Shareholders\u2019 equity","","","263,550","","","","","","","","","","","","226,984"],["Total liabilities and shareholders\u2019 equity","","$","1,863,296","","","","","","","","","","","$","1,801,398"],["Net interest income","","","","","","$","21,905","","","","","","","","","","","$","21,738"],["Net interest spread","","","","","","","","","","","3.93","%","","","","","","","","","","","4.01","%"],["Net interest margin","","","","","","","","","","","4.81","%","","","","","","","","","","","4.96","%"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["(1)","Taxable-equivalent yield of 2.85% as of June 30, 2026, applying a 24.2% effective tax rate."]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["(2)","Average loan balances include monthly average nonaccrual loans of $4.7 million and $5.7 million for the three months ended June 30, 2026 and June 30, 2025, respectively."]]
[[/GREPCENT_TABLE]]

For the second quarter of 2026 compared to the second quarter of 2025:

[[GREPCENT_TABLE]]
[["","-","Total interest income on loans increased $0 million, or 0.1%, to $29.0 million, due to an increase in the average loan balance of $139.6 million;"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["","-","Interest income on short-term investments decreased by $0.8 million, driven by a $63.4 million decline in average balances combined with lower yields;"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["","-","Yields on our total interest-earning assets decreased by 46 basis points to 6.79%, which was driven predominantly by a 70 basis point decline in loan yields, and to a lesser extent, a 44 basis point decrease in yields on short-term investments; and"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["","-","Net interest margin was 4.81% compared to 4.96%."]]
[[/GREPCENT_TABLE]]

37

Table of Contents

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1746129/000114036126009657/ef20060654_10k.htm
Complete FY 2025 MD&A: /company/BSVN/mda/fy2025/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-03-17
Report date: 2025-12-31

Item 7.   Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related
notes included elsewhere in this report.

Unless the context indicates otherwise, references in this management’s discussion and analysis to “we”, “our”, and “us,” refer to Bank7 Corp. and its consolidated
subsidiaries.  All references to “the Bank” refer to Bank7, our wholly owned subsidiary.

General

We are Bank7 Corp., a bank holding company headquartered in Oklahoma City, Oklahoma. Through our wholly-owned subsidiary, Bank7, we operate twelve full-service branches in Oklahoma, the
Dallas/Fort Worth, Texas metropolitan area and Kansas. We are focused on serving business owners and entrepreneurs by delivering fast, consistent and well-designed loan and deposit products to meet their financing needs. We intend to grow
organically by selectively opening additional branches in our target markets and we will also pursue strategic acquisitions.

As a bank holding company, we generate most of our revenue from interest income on loans and from short-term investments.  The primary source of funding for our loans and short-term investments
are deposits held by our subsidiary, Bank7.  We measure our performance by our return on average assets, return on average equity, earnings per share, capital ratios, and efficiency ratio, which is calculated by dividing noninterest expense by the
sum of net interest income on a tax equivalent basis and noninterest income.

As of December 31, 2025, we had total assets of $1.96 billion, total loans of $1.61 billion, total deposits of $1.70 billion and total shareholders’ equity of $251.0 million.

The Federal Reserve aggressively raised the federal funds target rate throughout 2022 and 2023 to combat elevated inflation, reaching a peak range of 5.25% to 5.50% by December 31, 2023. In 2024, the Federal Reserve
began to adjust monetary policy, ultimately lowering the federal funds rate three times to end that year with a target range of 4.25% to 4.50%. This easing cycle continued into 2025, with the Federal Reserve implementing three additional
25-basis-point reductions in the second half of the year. As of December 31, 2025, the federal funds target range stood at 3.50% to 3.75%. These monetary policy actions, along with the impact of the transition from a peak-rate environment,
compressed our net interest margin while generally supporting stable credit quality throughout 2025.

2025 Overview

We reported total loans of $1.61 billion as of December 31, 2025, an increase of $209.0 million, or 15.0%, from December 31, 2024. Total deposits were $1.70 billion as of December 31, 2025, an
increase of $185.4 million, or 12.2%, from December 31, 2024.

Income before taxes was $56.8 million, a decrease of $3.6 million, or 6.0%, for the year ended December 31, 2025 as compared to income before taxes of $60.4 million for the same period in 2024.

Pre-tax return on average assets and return on average equity was 3.12% and 24.39%, respectively, for the year ended December 31, 2025, as compared to 3.50% and 31.41%, respectively, for the same
period in 2024. Tax-adjusted return on average assets and return on average equity was 2.37% and 18.51%, respectively, for the year ended December 31, 2025, as compared to 2.65% and 23.78%, respectively, for the same period in 2024. Our efficiency
ratio for the year ended December 31, 2025 was 40.24% as compared to 37.90% for the same period in 2024.

The provision for credit losses for the year ended December 31, 2025, was $700,000, an increase of 100% compared to a $0 provision for the year ended December 31, 2024. This provision was
primarily attributable to the 15% year-over-year loan growth realized during the period, as total loans increased by $209.0 million to $1.61 billion at December 31, 2025. The 2025 provisioning reflects management’s ongoing assessment of the
allowance for credit losses required to support the expanded loan portfolio and incorporates updated economic assumptions relevant to the current environment. We continue to monitor credit metrics and economic indicators to ensure the allowance for
credit losses remains at an appropriate level to address potential credit risks within the portfolio. See Note 5 of the financial statements for further disclosure and discussion.

23

Table
of Contents

Results of Operations

Years Ended December 31, 2025, December 31, 2024, and December 31, 2023

Net Interest Income and Net Interest Margin

The following table presents, for the periods indicated, information about: (i) weighted average balances, the total dollar amount of interest income from interest-earning assets, and the
resultant average yields; (ii) average balances, the total dollar amount of interest expense on interest-bearing liabilities, and the resultant average rates; (iii) net interest income; and (iv) the net interest margin.

[[GREPCENT_TABLE]]
[["","","Net Interest Margin"],["","","For the Year Ended December 31,"],["","","2025","","","2024","","","2023"],["","","Average Balance","","","Interest Income/ Expense","","","Average Yield/ Rate","","","Average Balance","","","Interest Income/ Expense","","","Average Yield/ Rate","","","Average Balance","","","Interest Income/ Expense","","","Average Yield/ Rate"],["","","(Dollars in thousands)"],["Interest-earning assets:"],["Short-term investments","","$","235,211","","","$","9,914","","","","4.21","%","","$","184,328","","","$","9,320","","","","5.04","%","","$","174,600","","","$","8,580","","","","4.91","%"],["Debt securities, taxable","","","46,599","","","","1,085","","","","2.33","","","","90,184","","","","2,531","","","","2.80","","","","152,094","","","","2,791","","","","1.84"],["Debt securities, tax exempt(1)","","","12,042","","","","246","","","","2.04","","","","16,651","","","","273","","","","1.64","","","","19,430","","","","330","","","","1.70"],["Loans held for sale","","","1,448","","","","-","","","","-","","","","343","","","","-","","","","-","","","","158","","","","-","","","","-"],["Total loans(2)","","","1,483,112","","","","117,513","","","","7.92","","","","1,391,552","","","","119,416","","","","8.56","","","","1,315,578","","","","109,843","","","","8.35"],["Total interest-earning assets","","","1,778,412","","","$","128,758","","","","7.24","","","","1,683,058","","","$","131,540","","","","7.79","","","","1,661,860","","","$","121,544","","","","7.31"],["Noninterest-earning assets","","","41,782","","","","","","","","","","","","39,555","","","","","","","","","","","","25,943"],["Total assets","","$","1,820,194","","","","","","","","","","","$","1,722,613","","","","","","","","","","","$","1,687,803"],["Funding sources:"],["Interest-bearing liabilities:"],["Deposits:"],["Transaction accounts","","$","1,021,059","","","$","31,396","","","","3.07","%","","$","882,314","","","$","33,408","","","","3.78","%","","$","825,169","","","$","28,582","","","","3.46","%"],["Time deposits","","","237,548","","","","9,489","","","","3.99","","","","254,057","","","","11,937","","","","4.69","","","","256,672","","","","10,416","","","","4.06"],["Total interest-bearing deposits","","","1,258,607","","","","40,885","","","","3.25","","","","1,136,371","","","","45,345","","","","3.98","","","","1,081,841","","","","38,998","","","","3.60"],["Total interest-bearing liabilities","","","1,258,607","","","","40,885","","","","3.25","","","","1,136,371","","","","45,345","","","","3.98","","","","1,081,841","","","","38,998","","","","3.60"],["Noninterest-bearing liabilities:"],["Noninterest-bearing deposits","","","317,743","","","","","","","","","","","","381,660","","","","","","","","","","","","433,603"],["Other noninterest-bearing liabilities","","","11,105","","","","","","","","","","","","12,419","","","","","","","","","","","","10,423"],["Total noninterest-bearing liabilities","","","328,848","","","","","","","","","","","","394,079","","","","","","","","","","","","444,026"],["Shareholders\u2019 equity","","","232,739","","","","","","","","","","","","192,163","","","","","","","","","","","","161,936"],["Total liabilities and shareholders\u2019 equity","","$","1,820,194","","","","","","","","","","","$","1,722,613","","","","","","","","","","","$","1,687,803"],["Net interest income","","","","","","$","87,873","","","","","","","","","","","$","86,195","","","","","","","","","","","$","82,546"],["Net interest spread","","","","","","","","","","","3.99","%","","","","","","","","","","","3.81","%","","","","","","","","","","","3.71","%"],["Net interest margin","","","","","","","","","","","4.94","%","","","","","","","","","","","5.11","%","","","","","","","","","","","4.97","%"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["(1)","Taxable-equivalent yield of 2.69% as of December 31, 2025, applying a 24.1% effective tax rate"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["(2)","Average loan balances include monthly average nonaccrual loans of $5.97 million, $12.4 million and $18.8 million for the years ended December 31, 2025, 2024 and 2023, respectively."]]
[[/GREPCENT_TABLE]]

For the year ended December 31, 2025 compared to the year ended December 31, 2024:

[[GREPCENT_TABLE]]
[["","-","Total interest income on loans decreased $1.9 million, or 1.6%, to $117.5 million, due to decreased loan yields as discussed below;"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["","-","Yields on our interest-earning assets totaled 7.24%, a decrease of 55 basis points which was attributable to lower loan yields of 64 basis points, a decrease in yield on short term investments of 83 basis points, and a decrease in yield on taxable debt securities of 47 basis points; and"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["","-","Net interest margin for the years ended 2025 and 2024 was 4.94% and 5.11%, respectively."]]
[[/GREPCENT_TABLE]]

24

Table
of Contents

For the year ended December 31, 2024 compared to the year ended December 31, 2023:

[[GREPCENT_TABLE]]
[["","-","Total interest income on loans increased $9.6 million, or 8.7%, to $119.4 million, which was attributable to a $76.0 million increase in the average balance of loans to $1.39 billion during the year ended 2024 as compared with the average balance of loans of $1.32 billion for the year ended 2023, and increased loan yields as discussed below;"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["","-","Yields on our interest-earning assets totaled 7.79%, an increase of 48 basis points which was attributable to higher loan yields of 21 basis points, an increase in yield on short term investments of 13 basis points, and an increase in yield on taxable debt securities of 96 basis points; and"]]
[[/GREPCENT_TABLE]]

[[GREPCENT_TABLE]]
[["","-","Net interest margin for the years ended 2024 and 2023 was 5.11% and 4.97%, respectively."]]
[[/GREPCENT_TABLE]]

The Federal Reserve (“FED”) influences the general market rates of interest, including the deposit and loan rates offered by many financial institutions. Our loan portfolio is significantly
affected by changes in the prime interest rate. For the three-year period between January 1, 2023 and December 31, 2025, the prime rate fluctuated between a high of 8.50%, and a low of 6.75%.

Interest income on short-term investments increased $594,000, or 6.4%, to $9.9 million for year ended December 31, 2025 compared to 2024, due to an increase in the average balances of $50.9
million, or 27.6% and a yield decrease of 83 basis points.  Interest income on short-term investments increased $740,000, or 8.6%, to $9.3 million for year ended December 31, 2024 compared to 2023, due to an increase in the average balances of $9.7
million, or 5.6% and a yield increase of 13 basis points.

Interest expense on interest-bearing deposits totaled $40.9 million for the year ended Decem

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/BSVN/mda/fy2025/
All MD&A years: /company/BSVN/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/BSVN/mda/fy2024/): filed 2025-03-12; accession 0001140361-25-008438 (https://www.sec.gov/Archives/edgar/data/1746129/000114036125008438/ef20038927_10k.htm)
- [FY 2023 MD&A](/company/BSVN/mda/fy2023/): filed 2024-03-25; accession 0001140361-24-014984 (https://www.sec.gov/Archives/edgar/data/1746129/000114036124014984/ef20015288_10k.htm)
- [FY 2022 MD&A](/company/BSVN/mda/fy2022/): filed 2023-03-24; accession 0001140361-23-013727 (https://www.sec.gov/Archives/edgar/data/1746129/000114036123013727/brhc10050068_10k.htm)
- [FY 2021 MD&A](/company/BSVN/mda/fy2021/): filed 2022-03-31; accession 0001140361-22-012281 (https://www.sec.gov/Archives/edgar/data/1746129/000114036122012281/brhc10035809_10k.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 6022 State Commercial Banks) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate
- [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit
- [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

Macro-to-micro threads including this sector: [Interest rates & the Fed](/thread/interest-rates-fed/), [Money & trade](/thread/money-trade/), [Consumer & credit](/thread/consumer-credit/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/BSVN.md · JSON record: /company/BSVN.json · verified financials: /company/BSVN/financials.json / /company/BSVN/financials.csv · machine TOC for the whole site: /llms.txt