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InvestorRoom Demo Bank7 Corp. Announces 1Q 2021 Earnings OKLAHOMA CITY , April 29 , 2021 / PRNewswire / -- Bank7 Corp. ( NASDAQ : BSVN ) ( " the Company " ) , the parent company of Oklahoma City - based Bank7 ( the " Bank " ) , today reported unaudited results for the fiscal quarter ended March 31 , 2021. " We continue to perform at a very high level , as evidenced by our 1Q annualized PPE record pace . Our capital ratios remain strong , and we have confidence in our asset quality and liquidity components . Our region has weathered the pandemic - induced stress to the economy , and businesses across virtually all sectors are rapidly expanding and growing . We remain confident about 2021 and beyond , and intend to capitalize on the many opportunities we have , " said Thomas L. Travis , President and CEO of the Company . Three months ended March 31 , 2021 compared to three months ended March 31 , 2020 : • Pre - tax , pre - provision earnings of $ 8.1 million , an increase of 9.4 % • Efficiency ratio of 35.92 % , compared to 37.00 % • Total assets of $ 1.05 billion , an increase of 7.36 % • Total loans of $ 861.4 million , an increase of 9.63 % • Total deposits of $ 929.0 million , an increase of 6.67 % • Cost of funds of 0.41 % , a decrease of 62.39 % • Tangible book value per share of $ 12.18 , an increase of 17.66 % Both the Bank's and the Company's capital levels continue to be significantly above the minimum levels required to be designated as " well - capitalized " for regulatory purposes . On March 31 , 2021 , the Bank's Tier 1 leverage ratio , Tier 1 risk based capital ratio , and total risk - based capital ratios were 11.23 % , 14.10 % , and 15.35 % , respectively . On March 31 , 2021 , on a consolidated basis , the Company's Tier 1 leverage ratio , Tier 1 risk based capital ratio , and total risk - based capital ratios were 11.23 % , 14.09 % , and 15.34 % , respectively . Designation as a well - capitalized institution under regulations does not constitute a recommendation or endorsement by bank regulators . Pre - tax , pre - provision earnings is defined as income before taxes and provision for loan losses . We believe the most directly comparable GAAP financial measure is income before taxes . Disclosure of this measure enables you to compare our operations to those of other banking companies before consideration of taxes and provision expense . We calculate our tax - adjusted net income , return on average assets , and return on average equity , and per share amounts by using a combined effective tax rate for federal and state income taxes of 25.3 % in the first quarter of both 2021 and 2020. We acknowledge that our non - GAAP financial measures have a number of limitations . As such , you should not view these disclosures as a substitute for results determined in accordance with GAAP , and they are not necessarily comparable to non - GAAP financial measures that other banking companies use . Other banking companies may use names similar to those we use for non - GAAP financial measures we disclose , but may calculate them differently . You should understand how we and other companies each calculate their non - GAAP financial measures when making comparisons . The following reconciliation table provides a more detailed analysis of these non - GAAP financial measures : Three months ended March 31 , ( Dollars in thousands , except per share data ) Loan interest income ( excluding loan fees ) Total loan interest income , including loan fee income Loan fee income 2021 2020 $ 13,094 $ 13,106 ( 1,991 ) ( 1,260 ) Loan interest income excluding loan fee income $ 11,103 $ 11,846 Average total loans $ 847,498 $ 747,774 Yield on loans ( including loan fee income ) Yield on loans ( excluding loan fee income ) 6.27 % 7.05 % 5.31 % 6.37 % Pre - tax , pre - provision net earnings Net income before income taxes $ 6,830 $ 6,759 Plus : Provision ( reversal of ) for loan losses Pre - tax , pre - provision net earnings ( 1,275 ) ( 650 ) $ 8,105 $ 7,409 Adjusted provision for income tax Net income before income taxes + A $ 6,830 $ 6,759