Bank7 (BSVN)

The sleeper story isn't the loan growth victory lap, it's that core fee income guidance appears to have cratered from $7 million to roughly $1-2 million quarter over quarter, buried in a confusing CFO answer that no analyst followed up on. The obvious headline, another strong growth year, is real, but management itself just told you not to extrapolate it: "That sounds like a stretch to me" when asked if 2026 can repeat 2025. The binding constraint here isn't loan demand, it's deposit pricing competition that's stopped responding to rate cuts the way it used to, with the CFO admitting "I don't know if there's really a straight answer to give you" on where deposit costs go next. Layer on the disappearance of both the mortgage outlook and criticized/classified migration detail, two disclosures that were front and center last quarter, and this reads less like a clean beat-and-raise and more like a company quietly narrowing what it's willing to quantify right after its best year. My view changes if the 10-K confirms the fee income figure was a transcription artifact and not a real guide-down, and if mortgage/credit migration data reappear next quarter with no negative surprise attached.