Business Context and Reporting Period
Company: Bank7 Corp. (Ticker: BSVN)
Filing Type: Form 8-K (Current Report)
Date of Report: March 25, 2025
Date of Earliest Event: March 19, 2025
Reporting Period: The filing addresses events occurring on March 19, 2025, regarding the replacement of the independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a disclosure of a change in the registrant's certifying accountant.
Material Changes
- Accountant Replacement: On March 19, 2025, the Audit Committee approved the replacement of Forvis Mazars, LLP ("Forvis") as the independent registered public accounting firm. The change is effective following the review of results for the quarter ending March 31, 2025.
- New Engagement: The Audit Committee approved the engagement of RSM US LLP ("RSM") as the new independent registered public accounting firm for the fiscal year ending December 31, 2025, effective immediately pending standard client acceptance procedures.
- Audit History: Forvis' reports for the years ended December 31, 2024, and 2023 contained no adverse opinions, disclaimers, or qualifications. There were no disagreements with Forvis regarding accounting principles, practices, or audit scope during the two most recent fiscal years and the interim period through March 19, 2025.
Guidance, Outlook, and Risks
Management Commentary: The filing states that the company provided Forvis with a copy of the disclosures and requested a letter addressed to the SEC confirming agreement with the statements. Forvis' letter, dated March 25, 2025, is filed as Exhibit 16.1.
Consultations: The company confirmed that neither it nor anyone acting on its behalf consulted with RSM regarding matters described in Items 304(a)(2)(i) and (ii) of Regulation S-K during the two most recent fiscal years and the subsequent interim period.
Risks and Contingencies: No specific financial risks or contingencies are detailed in this filing beyond the standard transition of audit responsibilities.
Investor Verification Checklist
- Verify the content of Exhibit 16.1 (Letter from Forvis Mazars, LLP) to confirm the auditor's agreement with the company's statements regarding the departure.
- Monitor the completion of RSM US LLP's standard client acceptance procedures and the execution of the engagement letter.
- Review the upcoming quarterly report for the period ending March 31, 2025, to confirm the first financial statements audited or reviewed by the new firm.
- Check for any subsequent filings that might elaborate on the rationale for the auditor change, as the 8-K does not explicitly state the reason beyond the Audit Committee's approval.