FOR THE OKLAHOMAN
This past year proved to be a successful one for Bank7 Corp. as it landed a spot in Oklahoma Inc.’s Top 10 successful Oklahoma businesses.
The company rose to the spot of No. 10 after not being ranked at all in 2019. It was the only previously unranked business to make the top 28, and it was one of just three businesses in the financial/banking sector to make the list, which is usually dominated by energy companies.
Bank7 Corp. is the bank holding company for the Oklahoma City based Bank7. Bank7 is a full-service bank with locations in Oklahoma, Kansas and Texas. It offers several services, including online banking, and has experience with energy industries, real estate and agriculture.
Thomas Travis, the president and CEO of Bank7 Corp., said the company sticks to the fundamentals as is seeks to return value to its shareholders.
“[We make] smart loan decisions to avoid loan losses and keep expenses low,” Travis said.
This strategy seems to have worked, for Bank7 Corp. was able to be successful even amid a pandemic that has hit many businesses hard.
The company scored the highest in Percent Change in Revenue with a 6.8% change in revenue from 2019 to 2020. This is the third highest in the state. It also earned an 8% return on average equity for 2020, which is the eighth highest in the state.
Bank7 Corp. also had the twelfth highest one year total return on stock and dividends and the 13th highest percent change in earnings per share from 2019 to 2020, although it scored negative in both categories.
“Goals were high return on equity and high return on assets without taking on undue risk” Travis said.
He said the company plans to keep those same goals as it looks to continue its successes next year.
“We stick to tried and true fundamentals,” Travis said, “and we own more stock than any other shareholders, so we are aligned with them to perform at a high level.”
The company has not been without its challenges this year, but as it’s moving forward through the pandemic, Travis is confident Bank7 Corp. will be able to continue delivering on its promises to its customers.
“We avoid excessive risk taking,” Travis said. “And we don’t deviate from our fundamentals, which makes our income very steady and reliable.”
