[Management View]
Bank7's management expressed confidence in maintaining a high Net Interest Margin (NIM) and operational efficiency. They highlighted strong loan growth, particularly in energy and C&I sectors, and emphasized disciplined M&A strategies focusing on Merger of Equals (MOE) deals.

[Outlook]
The company anticipates continued loan growth in Q3 2025, despite potential unpredictability in paydowns. Management expects slight increases in deposit costs to support growth but aims to maintain NIM within historical ranges. Full recovery of oil and gas assets is projected by mid-2025.

[Financial Performance]
Year-over-year, Bank7 reported strong loan origination growth, surpassing Q1 2025. The core yield on new loans slightly decreased from the 7.6% reported in Q2 2025. Expenses are projected to rise slightly in Q3, with a total of $10 million expected.

[Q&A Highlights]
1. Question: How is Bank7's loan growth momentum expected to continue in the back half of the year?
Answer: Thomas Travis noted a solid deal pipeline, particularly in Oklahoma and Texas, with Q3 expected to mirror Q2's strong performance. However, unpredictable paydowns could affect outcomes.

2. Question: What is the outlook for NIM given the growth and stable deposit costs?
Answer: Travis acknowledged potential slight increases in deposit costs to fund growth but expects NIM to remain within historical ranges, offset by attracting zero-cost transaction accounts.

3. Question: Any updates on M&A activities?
Answer: Travis mentioned ongoing discussions and a focus on MOE deals. Despite previous signed LOIs not proceeding, improved AOCI is expected to loosen market activity.

4. Question: Can you discuss competitive pricing dynamics and new loan yields?
Answer: Jason Estes indicated new loans are yielding slightly below 7.6%, with a return to normalcy in competitive pricing within Texas and Oklahoma.

5. Question: What is the appetite for talent acquisition amid recent M&A trends?
Answer: Travis highlighted selective talent acquisition in North Texas, emphasizing credit discipline and cultural fit over rapid expansion.

6. Question: How are expenses projected for the rest of the year?
Answer: Kelly Harris projected Q3 expenses at $10 million, with $1 million in oil and gas and $9 million in other expenses, slightly higher than Q2.

7. Question: What is the status of oil and gas asset recovery?
Answer: Travis confirmed 75% recovery of cash outlay, with full recovery expected by mid-2025, marking a successful goal achievement.

8. Question: Can you elaborate on loan growth in energy lending and portfolio granularity?
Answer: Travis described a shift from service to production loans in energy, with significant churn in energy, hospitality, and C&I portfolios supporting growth.

9. Question: How is Bank7 positioned for potential rate cuts?
Answer: Kelly Harris stated that loan and deposit betas are expected to move one for one with initial rate cuts, with loan floors mitigating margin compression.

10. Question: What are the trends in credit quality and charge-offs?
Answer: Jason Estes reported continued improvement in credit quality, with very clean past dues and adherence to underwriting fundamentals.

[Sentiment Analysis]
Analysts and management maintained a positive tone, with analysts expressing appreciation for the detailed insights and management's strategic focus on growth and M&A.

[Quarterly Comparison]
| Metric | Q2 2025 | Q1 2025 | YoY Change |
|-------------------------|---------|---------|------------|
| Loan Growth | Strong | Strong | Positive |
| Core Yield on New Loans | <7.6% | 7.6% | Slight Decrease |
| Total Expenses | $10M | N/A | Increase |

[Risks and Concerns]
Potential risks include unpredictable paydowns affecting loan growth, slight increases in deposit costs impacting NIM, and broader economic uncertainties influencing credit quality.

[Final Takeaway]
Bank7 demonstrated robust performance in Q2 2025, driven by strong loan growth and strategic focus on M&A. Management's disciplined approach to M&A and emphasis on maintaining credit quality position the company well for future growth. Despite potential challenges from deposit cost increases and economic uncertainties, Bank7 remains confident in sustaining its operational efficiency and delivering top-tier results to shareholders.