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Key takeaways from the call include:
During the earnings call, the company also discussed potential additional impairment of around $14.5 million in pretax pre-provision earnings. It reassured investors that the company’s fundamentals remain strong despite the credit challenges. Bank7 Corp (NASDAQ:BSVN) also highlighted its disciplined approach to managing expenses, noting that it has not increased money market and CD rates to attract deposits.
Tom Travis, a representative of the company, projected an increase for 2024, potentially higher due to the construction of new branches. However, the impact of this construction on depreciation expenses is not expected until the end of 2025. Jason Estes, another representative, noted a gradual improvement in credit quality over the last few quarters, except for one outlier credit issue. Travis expressed confidence in the company’s low nonperforming operating numbers and attributed the outlier credit issue to a unique circumstance. He emphasized that the company’s fundamentals are strong and they will continue to deliver returns for shareholders.
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