Bank7(US:BSVN)2023-10-26 20:05Financial Performance - Total assets increased to $1.772 billion, a 12.1% increase compared to Q3 2022[2] - Total loans reached $1.393 billion, a 12.9% increase compared to Q3 2022[2] - Total deposits amounted to $1.594 billion, a 10.9% increase compared to Q3 2022[2] - Net income was $10.907 million, a decrease of 2.3% compared to Q3 2022[2] - Pre-provision pre-tax earnings reached $14.37 million[2] Balance Sheet & Liquidity - Uninsured deposits represent 22.77% of total deposits[7] - Adjusted uninsured deposits represent 17.76% of total deposits[7] - Cash plus unpledged securities and undrawn lines-of-credit equals $482.29 million, providing 1.70x coverage of adjusted uninsured deposits[7] - $1.08 billion or 77.52% of loans reprice in 1 year or less[17] Loan Portfolio - Commercial & Industrial loans accounted for $343.80 million or 24.63% of the loan portfolio[74] - Hospitality loans accounted for $292.80 million or 20.97% of the loan portfolio[74] - Energy loans accounted for $223.50 million or 16.01% of the loan portfolio[74] Efficiency & Profitability - Efficiency ratio decreased to 33.61%, a 14.86% decrease compared to Q3 2022[7] - Noninterest expense to average assets was 1.71%, an 8.08% decrease compared to Q3 2022[17]