Bank7 Corp.BSVN

Bank7 Corp. Leases Disclosure

10-KFiled Mar 17, 20261 min read
Note 18: Operating Leases
 
Lessee
 
The Company has operating leases, which primarily consist of office space in buildings, ATM locations, equipment and land on which it owns certain buildings.
 
Rental expense on all operating leases, including those rented on a monthly or temporary basis were as follows (dollars in thousands):
 
Year Ending December 31:
      
2025
  
$
834
  
2024
    
1,068
  
2023
    
1,001
  

 
As of December 31, 2025, a right of use lease asset included in interest receivable and other assets on the consolidated balance sheet totaled $2.1 million, and a related lease liability included in accrued interest payable and other liabilities on the consolidated balance sheet totaled $2.1 million. As of December 31, 2025, our operating leases have a weighted-average remaining lease term of 13.8 years and a weighted-average discount rate of 3.9 percent.
 
Future minimum rental commitments of branch facilities and office equipment due under non-cancelable operating leases at December 31, 2025, were as follows (dollars in thousands):
 
2026
  
$
621
  
2027
    
499
  
2028
    
299
  
2029
    
231
  
2030
    
137
  
Thereafter
    
657
  
Total lease payments
    
2,444
  
Less imputed interest
    
(298
)
Operating lease liability
  
$
2,146
  

Historical Timeline

Fiscal YearFiled
2025Mar 17, 2026Showing above
2024Mar 12, 2025
2023Mar 25, 2024
2022Mar 24, 2023
2021Mar 31, 2022
2020Mar 25, 2021
2019Mar 30, 2020
2018Mar 29, 2019

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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