Equity Bancshares Inc 8-K, filed Oct 14, 2026
Equity Bancshares Inc (EQBK)
About this 8-K
Equity Bancshares Inc filed this 8-K on October 14, 2026.
Equity Bancshares reported net income of $26.8 million, or $1.29 per diluted share, and core EPS of $1.40 for the quarter ended September 30, 2026. Loans ended at $5.4 billion, and the quarterly dividend increased 22% to $0.22. AI summary
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
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Registrant’s telephone number, including area code:
Former name or former address, if changed since last report: Not Applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
1
Item 2.02 Results of Operations and Financial Condition.
On October 14, 2026, Equity Bancshares, Inc. (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference herein.
The information in this Item 2.02, including Exhibit 99.1, is being furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, unless specifically identified therein as being incorporated therein by reference.
Item 7.01 Regulation FD Disclosure.
The Company intends to hold an investor call and webcast to discuss its financial results for the third quarter ended September 30, 2026, on Thursday, October 15, 2026, at 9:00 a.m. Central Time. The Company’s presentation to analysts and investors contains additional information about the Company’s financial results for the third quarter ended September 30, 2026, and is furnished as Exhibit 99.2 and is incorporated by reference herein.
The information in this Item 7.01, including Exhibit 99.2, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act, unless specifically identified therein as being incorporated therein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
99.1 |
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99.2 |
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104 |
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Cover Page Interactive Data File |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Equity Bancshares, Inc. |
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Date: October 14, 2026 |
By: /s/ Chris M. Navratil |
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Chris M. Navratil |
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Executive Vice President and Chief Financial Officer |
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Equity Bancshares, Inc. Exhibit 99.1
PRESS RELEASE
Equity Bancshares, Inc. Third Quarter Results Highlighted by Organic Loan Growth and Announced Merger with Lincoln Bancorp
EPS of $1.29 and Core EPS of $1.40 Reflects Franchise Earning Power
WICHITA, Kansas, October 14, 2026 (BUSINESSWIRE) – Equity Bancshares, Inc. (NYSE: EQBK), (“Equity”, “the Company,” “we,” “us,” “our”), the Wichita-based holding company of Equity Bank, reported net income of $26.8 million or $1.29 per diluted share for the quarter ended September 30, 2026. Core earnings per diluted share for the quarter was $1.40.
“This quarter our company continued to execute at an exciting level. Earnings were strong, production reached all-time highs and loans grew organically. We are putting teams in place with an aligned mission to deepen and expand customer relationships while providing exceptional service to the communities we serve. The results for the quarter reflect that mission,” said Brad S. Elliott, Chairman and CEO of Equity Bancshares.
“As our teams realized positive operating results in our current footprint, we announced our merger with Lincoln Bancorp, which will add the incredible team members, growing communities and exceptional customers it has been cultivating for 124 years. The approval process is progressing as planned and we look forward to all our teams will accomplish together in 2027 and beyond,” Mr. Elliott continued.
Notable Items:
Equity Bancshares, Inc.
PRESS RELEASE
Financial Results for the Quarter Ended September 30, 2026
Net income was $26.8 million, or $1.29 per diluted share, as compared to $26.4 million, or $1.27 per diluted share in the prior quarter. Core net income was $29.1 million or $1.40 per diluted share, demonstrating the underlying earnings power of the franchise.
The drivers of the current period results are discussed in detail in the following sections.
Net Interest Income
Net interest income was $72.8 million for the period, as compared to $73.9 million in the previous quarter. Net interest margin was 4.20%. The decline in net interest income is primarily attributable to an expanding cost of funds and declining yield on earning assets. During the quarter, average earning assets increased $78.0 million driven by investment balances funded by borrowings further driving decline in margin.
Period-end loan balances are $50.4 million higher than average balances during the period. This compositional shift in average earning assets coupled with the full period impact of the FOMC’s decision to raise interest rates in September, is expected to offset deposit pricing competition and yield a return to previous margin expectations of 4.25-4.35% for the fourth quarter, absent the impact of Lincoln.
Provision for Credit Losses
During the quarter, the Company recognized a provision for credit losses of $1.7 million, up $353 thousand from the previous quarter. Net charge-offs were $2.1 million, or an annualized 15 basis points of average loans. At quarter end, ACL to gross loans held for investment was 1.18% and ACL plus purchase discounts was 1.65%. ACL levels were sufficient to cover 7.7 years of current period annualized charge-offs as of the end of the period.
The Company continues to estimate the allowance with assumptions reflecting slower prepayment rates and continued disruption from trade policy, elevated inflation, and monetary policy pressures.
Non-Interest Income
Total non-interest income was $10.9 million, up $2.8 million from the prior quarter. Following adjustment for one-time items in the previous quarter, non-interest income increased by $0.6 million during the period. Period results were driven by growth in service charges and fees, treasury services and debit and credit card income along with expansion in trust and wealth management revenue. Year-over-year non-interest income, exclusive of gains or loss on security sales has increased $2.0 million, or 22.8%. For the fourth quarter, exclusive of the impact of Lincoln, we expect non-interest income to be between $10.0 and $11.0 million.
Non-Interest Expense
Total non-interest expense was $48.1 million as compared to $46.9 million for the prior quarter. Excluding merger expenses in both periods, non-interest expense was $47.2 million versus $46.8 million. GAAP non-interest expense to average assets was effectively flat during the period at 2.58%, down from 3.20% in the same period of the prior year. The efficiency ratio for the period was 54.0%. Non-interest expense for the fourth quarter, exclusive of the impact of Lincoln, is expected in the range of $47.0 to $48.0 million.
Income Tax Expense
At September 30, 2026, the effective tax rate for the quarter was 21.2% as compared to 21.6% for the quarter ended June 30, 2026. The decrease in the effective tax rate was primarily attributable to tax benefits from an investment in a new tax
Equity Bancshares, Inc.
PRESS RELEASE
credit structure, non-taxable life insurance proceeds, and share-based compensation activity, partially offset by federal provision-to-return adjustments and non-deductible transaction costs. The year-to-date tax rate is 22.0%.
Loans, Total Assets and Funding
Loans held for investment were $5.4 billion at period end, increasing $39.2 million during the quarter, an annualized increase of 2.9%. Annualized loan growth within non-acquired markets for the period was 11.9% outpacing the moderating declines in the acquired markets. Total assets closed the quarter at $7.6 billion, a decrease of $134.5 million which is primarily attributable to cash and cash equivalents.
Total deposit balances closed the quarter at $6.2 billion, down $136.4 million as compared to the previous period. The decline is attributable to rate sensitive time and municipal deposit accounts, as well as seasonal outflows for a few large customers.
Asset Quality
Nonperforming assets were $75.4 million, or 0.99% of total assets, compared to $66.3 million or 0.86% at prior quarter end. Classified assets to regulatory capital improved 140 basis points in the period, closing the quarter at 10.42%. The Company continues to actively manage credit quality across all markets.
Capital
Book capital decreased $11.3 million quarter over quarter to $816.0 million. Tangible book value per share closed at $32.93, down from $33.45 at prior quarter end. Positive earnings performance net of dividends was offset by an increasing AOCI position as market interest rates moved against our investment portfolio. Exclusive of AOCI, book value and tangible book value per share closed the quarter at $41.49 and $34.83, respectively. Tangible common equity to tangible assets inclusive and exclusive of AOCI closed the quarter at 9.10% and 9.58%, respectively. CET1 capital was 12.15%, total risk-based capital was 14.94%, and the leverage ratio was 10.18%. The Company has repurchased 711,369 shares year to date at a weighted average price of $44.84 per share. The dividend payout ratio year to date was 17.3%, within the Company's 10 to 20% target range.
Non-GAAP Financial Measures
In addition to evaluating the Company’s results of operations in accordance with accounting principles generally accepted in the United States of America (“GAAP”), management periodically supplements this evaluation with an analysis of certain non-GAAP financial measures that are intended to provide the reader with additional perspectives on operating results, financial condition and performance trends, while facilitating comparisons with the performance of other financial institutions. Non-GAAP financial measures are not a substitute for GAAP measures, rather, they should be read and used in conjunction with the Company’s GAAP financial information.
The efficiency ratio is a common comparable metric used by banks to understand the expense structure relative to total revenue. In other words, for every dollar of total revenue recognized, how much of that dollar is expended. To improve the comparability of the ratio to our peers, non-core items are excluded. To improve transparency and acknowledging that banks are not consistent in their definition of the efficiency ratio, we include our calculation of this non-GAAP measure.
Core net income is a non-GAAP financial measure that management uses to evaluate the Company’s operating performance across periods. We calculate it by adjusting net income allocable to common stockholders, the most directly comparable GAAP measure, to exclude, net of tax, gains and losses on securities transactions, merger-related costs and provisions, and amortization of intangible assets. Management believes core net income, and the per share and return measures derived from it, give investors a clearer view of results from ongoing operations and make comparisons with
Equity Bancshares, Inc.
PRESS RELEASE
other financial institutions easier. The aggregate income tax effect of the adjustments is calculated using the statutory federal rate of 21% and shown in the reconciliation in Table 8.
Core return on average assets and core return on average equity are non-GAAP financial measures. We calculate core return on average assets by dividing annualized core net income by average total assets. We calculate core return on average equity by dividing annualized core net income by average stockholders’ equity, adjusted for the average effect of the core adjustments on equity. The most directly comparable GAAP measures are return on average assets and return on average equity, respectively. Management uses these measures to evaluate how effectively the Company generates earnings from its asset base and equity capital, excluding the items described above, and believes they help investors assess performance across periods and relative to other financial institutions. Reconciliations are included in Table 8.
Core earnings per share is a non-GAAP financial measure we calculate by taking core income divided by the applicable share count. This financial measure is used by financial statement users to evaluate the core financial performance of the Company.
Tangible common equity and related measures are non-GAAP financial measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These financial measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Return on average tangible common equity is used by management and readers of our financial statements to understand how efficiently the Company is deploying its common equity. Companies that are able to demonstrate more efficient use of common equity are more likely to be viewed favorably by current and prospective investors.
The Company believes that disclosing these non-GAAP financial measures is both useful internally and is expected by our investors and analysts in order to understand the overall performance of the Company. Other companies may calculate and define their non-GAAP financial measures and supplemental data differently. A reconciliation of GAAP financial measures to non-GAAP measures and other performance ratios, as adjusted, are included in Table 8 in the following press release tables.
Conference Call and Webcast
Equity's Chairman and Chief Executive Officer, Brad Elliott, Chief Executive Officer of Equity Bank, Rick Sems, and Chief Financial Officer, Chris Navratil, will hold a conference call and webcast on October 15, 2026 at 9:00 a.m. Central Time to discuss the Company's financial results.
Those wishing to participate in the conference call should call the applicable number below and reference the Access Code below.
United States (Toll-Free): +1 833-461-5787
Global Dial-In Numbers
Access Code: 216 780 149
To eliminate wait times, conference call participants may pre-register using this registration link. After registering, a confirmation with access details will be sent via email.
A replay of the call and webcast will be available two hours following the close of the call until October 31, 2026, accessible at investor.equitybank.com. Webcast URL: https://events.q4inc.com/attendee/216780149
About Equity Bancshares, Inc.
Equity Bancshares, Inc. is a Wichita-based bank holding company. Equity Bank serves customers in Kansas, Missouri, Oklahoma, Arkansas, Nebraska, and Iowa, with total assets of $7.6 billion as of September 30, 2026. More information is available at equitybank.com.
Equity Bancshares, Inc.
PRESS RELEASE
Additional Information and Where to Find It
In connection with the proposed transaction with Lincoln, Equity filed with the SEC a registration statement on Form S-4 to register the shares of Equity’s Class A common stock to be issued to the shareholders of Lincoln. The registration statement includes a proxy statement/prospectus, which will be sent to the shareholders of Lincoln seeking their approval of the proposed transaction. WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON FORM S-4, THE PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EQUITY, LINCOLN AND THE PROPOSED TRANSACTION. The documents filed by Equity with the SEC may be obtained free of charge at Equity’s investor relations website at investor.equitybank.com or at the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from Equity upon written request to Equity Bancshares, Inc., Attn: Investor Relations, 7701 East Kellogg Drive, Suite 300, Wichita, Kansas 67207 or by calling (316) 612-6000.
No Offer or Solicitation
This communication is for informational purposes only and is not intended to and does not constitute an offer to subscribe for, buy or sell, or the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, invitation, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, and otherwise in accordance with applicable law.
Special Note Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of Equity’s management with respect to, among other things, future events and Equity’s financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “positioned,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about Equity’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond Equity’s control. Accordingly, Equity cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Equity believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from Equity’s expectations include competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; the possibility that the forecasted benefits related to the competed transaction with Frontier Bank (“Frontier”) may not materialize as expected; the possibility that the expected benefits related to the proposed transaction with Lincoln Bancorp (“Lincoln”) may not materialize as expected; and the ability to successfully implement integration strategies or to achieve expected synergies and operating efficiencies within the expected time-frames or at all; and similar variables. The foregoing list of factors is not exhaustive.
Equity Bancshares, Inc.
PRESS RELEASE
For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Equity’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 6, 2026, as amended, and any updates to those risk factors set forth in Equity’s subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Equity’s underlying assumptions prove to be incorrect, actual results may differ materially from what Equity anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Equity does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties arise from time to time and it is not possible for us to predict those events or how they may affect us. In addition, Equity cannot assess the impact of each factor on Equity’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Equity or persons acting on Equity’s behalf may issue.
Investor Contact:
Chris M. Navratil
EVP, Chief Financial Officer
Equity Bancshares, Inc.
(316) 612-6014
cnavratil@equitybank.com
Media Contact:
Laurel Cline
Chief Marketing Officer
Equity Bancshares, Inc.
(316) 858-3180
lcline@equitybank.com
Equity Bancshares, Inc.
PRESS RELEASE
Unaudited Financial Tables
Equity Bancshares, Inc.
PRESS RELEASE
TABLE 1. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) |
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(Dollars in thousands, except per share data) |
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Three Months Ended |
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Nine Months ended |
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2026 |
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2025 |
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2026 |
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2025 |
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Interest and dividend income |
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Loans, including fees |
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$ |
91,277 |
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$ |
76,911 |
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$ |
273,316 |
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$ |
202,776 |
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Securities, taxable |
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15,575 |
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9,416 |
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44,112 |
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27,351 |
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Securities, nontaxable |
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190 |
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307 |
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619 |
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1,042 |
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Federal funds sold and other |
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1,924 |
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4,464 |
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6,767 |
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8,800 |
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Total interest and dividend income |
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108,966 |
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91,098 |
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324,814 |
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239,969 |
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Interest expense |
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Deposits |
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31,514 |
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24,990 |
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92,135 |
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64,457 |
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Federal funds purchased and retail repurchase agreements |
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231 |
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263 |
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631 |
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730 |
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Federal Home Loan Bank advances |
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2,556 |
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1,741 |
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6,228 |
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6,881 |
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Bank stock loan |
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— |
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— |
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4 |
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— |
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Subordinated debt |
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1,824 |
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1,619 |
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5,439 |
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5,322 |
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Total interest expense |
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36,125 |
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28,613 |
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104,437 |
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77,390 |
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Net interest income |
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72,841 |
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62,485 |
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220,377 |
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162,579 |
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Provision (reversal) for credit losses |
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1,657 |
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6,228 |
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8,916 |
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8,969 |
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Net interest income after provision (reversal) for credit losses |
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71,184 |
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56,257 |
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211,461 |
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153,610 |
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Non-interest income |
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Service charges and fees |
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2,517 |
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2,522 |
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7,424 |
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6,763 |
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Debit card income |
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3,442 |
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2,953 |
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9,950 |
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8,509 |
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Mortgage banking |
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544 |
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62 |
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1,481 |
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380 |
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Increase in value of bank-owned life insurance |
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1,370 |
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1,393 |
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4,391 |
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6,307 |
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Net gains (losses) from securities transactions |
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10 |
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(53,352 |
) |
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(1,311 |
) |
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(53,328 |
) |
Other |
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3,021 |
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1,943 |
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6,514 |
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5,809 |
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Total non-interest income |
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10,904 |
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(44,479 |
) |
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28,449 |
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(25,560 |
) |
Non-interest expense |
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Salaries and employee benefits |
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24,034 |
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22,773 |
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74,883 |
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62,462 |
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Net occupancy and equipment |
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4,979 |
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4,317 |
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14,392 |
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11,474 |
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Data processing |
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5,466 |
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4,887 |
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16,044 |
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15,028 |
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Professional fees |
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1,712 |
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1,670 |
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4,880 |
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4,558 |
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Advertising and business development |
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1,470 |
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1,305 |
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4,683 |
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3,857 |
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Telecommunications |
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646 |
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630 |
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1,940 |
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1,805 |
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FDIC insurance |
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675 |
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653 |
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2,605 |
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1,747 |
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Courier and postage |
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530 |
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744 |
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1,693 |
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2,377 |
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Free nationwide ATM cost |
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604 |
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582 |
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1,765 |
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1,642 |
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Amortization of core deposit intangibles |
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1,812 |
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1,182 |
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5,980 |
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3,243 |
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Loan expense |
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165 |
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330 |
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1,209 |
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740 |
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Other real estate owned and repossessed assets, net |
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374 |
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797 |
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500 |
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1,001 |
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Loss on debt extinguishment |
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— |
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— |
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— |
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1,361 |
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Merger expenses |
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967 |
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6,163 |
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6,825 |
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6,584 |
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Other |
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4,680 |
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3,049 |
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12,569 |
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10,254 |
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Total non-interest expense |
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48,114 |
|
|
|
49,082 |
|
|
|
149,968 |
|
|
|
128,133 |
|
Income (loss) before income tax |
|
|
33,974 |
|
|
|
(37,304 |
) |
|
|
89,942 |
|
|
|
(83 |
) |
Provision for income taxes (benefit) |
|
|
7,200 |
|
|
|
(7,641 |
) |
|
|
19,763 |
|
|
|
(725 |
) |
Net income (loss) and net income (loss) allocable to common stockholders |
|
$ |
26,774 |
|
|
$ |
(29,663 |
) |
|
$ |
70,179 |
|
|
$ |
642 |
|
Basic earnings (loss) per share |
|
$ |
1.30 |
|
|
$ |
(1.55 |
) |
|
$ |
3.38 |
|
|
$ |
0.04 |
|
Diluted earnings (loss) per share |
|
$ |
1.29 |
|
|
$ |
(1.55 |
) |
|
$ |
3.35 |
|
|
$ |
0.04 |
|
Equity Bancshares, Inc.
PRESS RELEASE
Weighted average common shares |
|
|
20,593,162 |
|
|
|
19,129,726 |
|
|
|
20,750,044 |
|
|
|
18,051,688 |
|
Weighted average diluted common shares |
|
|
20,802,722 |
|
|
|
19,129,726 |
|
|
|
20,935,760 |
|
|
|
18,201,716 |
|
Equity Bancshares, Inc.
PRESS RELEASE
TABLE 2. QUARTERLY CONSOLIDATED STATEMENTS OF INCOME (Unaudited) |
|
|||||||||||||||||||
(Dollars in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
As of and for the Three Months Ended |
|
|||||||||||||||||
|
|
September 30, |
|
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|||||
Interest and dividend income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Loans, including fees |
|
$ |
91,277 |
|
|
$ |
90,577 |
|
|
$ |
91,462 |
|
|
$ |
74,362 |
|
|
$ |
76,911 |
|
Securities, taxable |
|
|
15,575 |
|
|
|
14,878 |
|
|
|
13,659 |
|
|
|
11,450 |
|
|
|
9,416 |
|
Securities, nontaxable |
|
|
190 |
|
|
|
207 |
|
|
|
222 |
|
|
|
179 |
|
|
|
307 |
|
Federal funds sold and other |
|
|
1,924 |
|
|
|
2,162 |
|
|
|
2,681 |
|
|
|
4,875 |
|
|
|
4,464 |
|
Total interest and dividend income |
|
|
108,966 |
|
|
|
107,824 |
|
|
|
108,024 |
|
|
|
90,866 |
|
|
|
91,098 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Deposits |
|
|
31,514 |
|
|
|
30,143 |
|
|
|
30,478 |
|
|
|
23,998 |
|
|
|
24,990 |
|
Federal funds purchased and retail repurchase agreements |
|
|
231 |
|
|
|
208 |
|
|
|
192 |
|
|
|
206 |
|
|
|
263 |
|
Federal Home Loan Bank advances |
|
|
2,556 |
|
|
|
1,786 |
|
|
|
1,886 |
|
|
|
1,327 |
|
|
|
1,741 |
|
Bank stock loan |
|
|
— |
|
|
|
— |
|
|
|
4 |
|
|
|
— |
|
|
|
— |
|
Subordinated debt |
|
|
1,824 |
|
|
|
1,815 |
|
|
|
1,800 |
|
|
|
1,833 |
|
|
|
1,619 |
|
Total interest expense |
|
|
36,125 |
|
|
|
33,952 |
|
|
|
34,360 |
|
|
|
27,364 |
|
|
|
28,613 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net interest income |
|
|
72,841 |
|
|
|
73,872 |
|
|
|
73,664 |
|
|
|
63,502 |
|
|
|
62,485 |
|
Provision (reversal) for credit losses |
|
|
1,657 |
|
|
|
1,304 |
|
|
|
5,955 |
|
|
|
(16 |
) |
|
|
6,228 |
|
Net interest income after provision (reversal) for credit losses |
|
|
71,184 |
|
|
|
72,568 |
|
|
|
67,709 |
|
|
|
63,518 |
|
|
|
56,257 |
|
Non-interest income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Service charges and fees |
|
|
2,517 |
|
|
|
2,414 |
|
|
|
2,493 |
|
|
|
2,558 |
|
|
|
2,522 |
|
Debit card income |
|
|
3,442 |
|
|
|
3,391 |
|
|
|
3,117 |
|
|
|
2,905 |
|
|
|
2,953 |
|
Mortgage banking |
|
|
544 |
|
|
|
589 |
|
|
|
348 |
|
|
|
187 |
|
|
|
62 |
|
Increase in value of bank-owned life insurance |
|
|
1,370 |
|
|
|
1,623 |
|
|
|
1,398 |
|
|
|
1,410 |
|
|
|
1,393 |
|
Net gains (losses) from securities transactions |
|
|
10 |
|
|
|
(1,213 |
) |
|
|
(108 |
) |
|
|
154 |
|
|
|
(53,352 |
) |
Other |
|
|
3,021 |
|
|
|
1,254 |
|
|
|
2,239 |
|
|
|
2,318 |
|
|
|
1,943 |
|
Total non-interest income |
|
|
10,904 |
|
|
|
8,058 |
|
|
|
9,487 |
|
|
|
9,532 |
|
|
|
(44,479 |
) |
Non-interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Salaries and employee benefits |
|
|
24,034 |
|
|
|
24,594 |
|
|
|
26,255 |
|
|
|
22,324 |
|
|
|
22,773 |
|
Net occupancy and equipment |
|
|
4,979 |
|
|
|
4,624 |
|
|
|
4,789 |
|
|
|
4,327 |
|
|
|
4,317 |
|
Data processing |
|
|
5,466 |
|
|
|
5,190 |
|
|
|
5,388 |
|
|
|
5,251 |
|
|
|
4,887 |
|
Professional fees |
|
|
1,712 |
|
|
|
1,400 |
|
|
|
1,768 |
|
|
|
1,909 |
|
|
|
1,670 |
|
Advertising and business development |
|
|
1,470 |
|
|
|
1,547 |
|
|
|
1,666 |
|
|
|
1,371 |
|
|
|
1,305 |
|
Telecommunications |
|
|
646 |
|
|
|
604 |
|
|
|
690 |
|
|
|
657 |
|
|
|
630 |
|
FDIC insurance |
|
|
675 |
|
|
|
1,165 |
|
|
|
765 |
|
|
|
832 |
|
|
|
653 |
|
Courier and postage |
|
|
530 |
|
|
|
518 |
|
|
|
645 |
|
|
|
858 |
|
|
|
744 |
|
Free nationwide ATM cost |
|
|
604 |
|
|
|
595 |
|
|
|
566 |
|
|
|
562 |
|
|
|
582 |
|
Amortization of core deposit intangibles |
|
|
1,812 |
|
|
|
2,240 |
|
|
|
1,928 |
|
|
|
1,260 |
|
|
|
1,182 |
|
Loan expense |
|
|
165 |
|
|
|
546 |
|
|
|
498 |
|
|
|
150 |
|
|
|
330 |
|
Other real estate owned and repossessed assets, net |
|
|
374 |
|
|
|
35 |
|
|
|
91 |
|
|
|
28 |
|
|
|
797 |
|
Loss on debt extinguishment |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Merger expenses |
|
|
967 |
|
|
|
133 |
|
|
|
5,725 |
|
|
|
1,481 |
|
|
|
6,163 |
|
Other |
|
|
4,680 |
|
|
|
3,694 |
|
|
|
4,195 |
|
|
|
5,577 |
|
|
|
3,049 |
|
Total non-interest expense |
|
|
48,114 |
|
|
|
46,885 |
|
|
|
54,969 |
|
|
|
46,587 |
|
|
|
49,082 |
|
Income (loss) before income tax |
|
|
33,974 |
|
|
|
33,741 |
|
|
|
22,227 |
|
|
|
26,463 |
|
|
|
(37,304 |
) |
Provision for income taxes (benefit) |
|
|
7,200 |
|
|
|
7,302 |
|
|
|
5,261 |
|
|
|
4,379 |
|
|
|
(7,641 |
) |
Net income (loss) and net income (loss) allocable to common stockholders |
|
$ |
26,774 |
|
|
$ |
26,439 |
|
|
$ |
16,966 |
|
|
$ |
22,084 |
|
|
$ |
(29,663 |
) |
Basic earnings (loss) per share |
|
$ |
1.30 |
|
|
$ |
1.28 |
|
|
$ |
0.81 |
|
|
$ |
1.16 |
|
|
$ |
(1.55 |
) |
Equity Bancshares, Inc.
PRESS RELEASE
Diluted earnings (loss) per share |
|
$ |
1.29 |
|
|
$ |
1.27 |
|
|
$ |
0.80 |
|
|
$ |
1.15 |
|
|
$ |
(1.55 |
) |
Weighted average common shares |
|
|
20,593,162 |
|
|
|
20,624,793 |
|
|
|
21,037,054 |
|
|
|
19,021,327 |
|
|
|
19,129,726 |
|
Weighted average diluted common shares |
|
|
20,802,722 |
|
|
|
20,825,444 |
|
|
|
21,263,164 |
|
|
|
19,235,412 |
|
|
|
19,129,726 |
|
Equity Bancshares, Inc.
PRESS RELEASE
TABLE 3. CONSOLIDATED BALANCE SHEETS (Unaudited)
(Dollars in thousands)
|
|
September 30, |
|
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|||||
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Cash and due from banks |
|
$ |
337,863 |
|
|
$ |
546,129 |
|
|
$ |
563,766 |
|
|
$ |
607,562 |
|
|
$ |
699,165 |
|
Federal funds sold |
|
|
405 |
|
|
|
402 |
|
|
|
399 |
|
|
|
255 |
|
|
|
245 |
|
Cash and cash equivalents |
|
|
338,268 |
|
|
|
546,531 |
|
|
|
564,165 |
|
|
|
607,817 |
|
|
|
699,410 |
|
Interest-bearing time deposits in other banks |
|
|
579 |
|
|
|
579 |
|
|
|
932 |
|
|
|
575 |
|
|
|
574 |
|
Available-for-sale securities |
|
|
1,240,394 |
|
|
|
1,229,692 |
|
|
|
1,125,162 |
|
|
|
1,030,568 |
|
|
|
903,858 |
|
Held-to-maturity securities |
|
|
5,167 |
|
|
|
5,168 |
|
|
|
5,254 |
|
|
|
5,248 |
|
|
|
5,243 |
|
Loans held for sale |
|
|
2,425 |
|
|
|
2,723 |
|
|
|
7,631 |
|
|
|
1,392 |
|
|
|
617 |
|
Loans, net of allowance for credit losses(1) |
|
|
5,380,904 |
|
|
|
5,341,305 |
|
|
|
5,364,030 |
|
|
|
4,145,424 |
|
|
|
4,215,118 |
|
Other real estate owned, net |
|
|
5,239 |
|
|
|
3,793 |
|
|
|
5,026 |
|
|
|
5,388 |
|
|
|
3,147 |
|
Premises and equipment, net |
|
|
145,534 |
|
|
|
141,098 |
|
|
|
140,648 |
|
|
|
136,720 |
|
|
|
132,857 |
|
Bank-owned life insurance |
|
|
151,351 |
|
|
|
150,514 |
|
|
|
149,699 |
|
|
|
148,301 |
|
|
|
146,891 |
|
Federal Reserve Bank and Federal Home Loan Bank stock |
|
|
42,883 |
|
|
|
42,719 |
|
|
|
38,806 |
|
|
|
34,053 |
|
|
|
33,713 |
|
Interest receivable |
|
|
42,596 |
|
|
|
37,730 |
|
|
|
39,966 |
|
|
|
33,322 |
|
|
|
34,751 |
|
Goodwill |
|
|
105,356 |
|
|
|
105,356 |
|
|
|
104,958 |
|
|
|
82,101 |
|
|
|
77,573 |
|
Core deposit intangibles, net |
|
|
26,485 |
|
|
|
28,296 |
|
|
|
30,536 |
|
|
|
21,634 |
|
|
|
22,895 |
|
Other |
|
|
103,956 |
|
|
|
90,117 |
|
|
|
90,557 |
|
|
|
120,629 |
|
|
|
88,984 |
|
Total assets |
|
$ |
7,591,137 |
|
|
$ |
7,725,621 |
|
|
$ |
7,667,370 |
|
|
$ |
6,373,172 |
|
|
$ |
6,365,631 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Demand |
|
$ |
1,150,775 |
|
|
$ |
1,174,903 |
|
|
$ |
1,274,533 |
|
|
$ |
1,148,409 |
|
|
$ |
1,147,201 |
|
Total non-interest-bearing deposits |
|
|
1,150,775 |
|
|
|
1,174,903 |
|
|
|
1,274,533 |
|
|
|
1,148,409 |
|
|
|
1,147,201 |
|
Demand, savings and money market |
|
|
3,388,748 |
|
|
|
3,445,538 |
|
|
|
3,504,698 |
|
|
|
3,004,987 |
|
|
|
2,882,625 |
|
Time |
|
|
1,627,905 |
|
|
|
1,683,376 |
|
|
|
1,521,679 |
|
|
|
984,868 |
|
|
|
1,064,943 |
|
Total interest-bearing deposits |
|
|
5,016,653 |
|
|
|
5,128,914 |
|
|
|
5,026,377 |
|
|
|
3,989,855 |
|
|
|
3,947,568 |
|
Total deposits |
|
|
6,167,428 |
|
|
|
6,303,817 |
|
|
|
6,300,910 |
|
|
|
5,138,264 |
|
|
|
5,094,769 |
|
Federal funds purchased and retail repurchase agreements |
|
|
44,413 |
|
|
|
42,826 |
|
|
|
39,009 |
|
|
|
39,864 |
|
|
|
42,220 |
|
Federal Home Loan Bank advances and Federal Reserve Bank borrowings |
|
|
389,128 |
|
|
|
385,408 |
|
|
|
347,660 |
|
|
|
300,000 |
|
|
|
341,378 |
|
Subordinated debt |
|
|
98,492 |
|
|
|
98,377 |
|
|
|
98,263 |
|
|
|
98,145 |
|
|
|
98,174 |
|
Contractual obligations |
|
|
15,111 |
|
|
|
8,520 |
|
|
|
9,678 |
|
|
|
10,208 |
|
|
|
16,664 |
|
Interest payable and other liabilities |
|
|
60,611 |
|
|
|
59,415 |
|
|
|
54,240 |
|
|
|
54,637 |
|
|
|
60,534 |
|
Total liabilities |
|
|
6,775,183 |
|
|
|
6,898,363 |
|
|
|
6,849,760 |
|
|
|
5,641,118 |
|
|
|
5,653,739 |
|
Commitments and contingent liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Stockholders’ equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Common stock |
|
|
273 |
|
|
|
273 |
|
|
|
273 |
|
|
|
249 |
|
|
|
249 |
|
Additional paid-in capital |
|
|
769,497 |
|
|
|
767,608 |
|
|
|
766,016 |
|
|
|
664,906 |
|
|
|
658,481 |
|
Retained earnings |
|
|
263,398 |
|
|
|
241,225 |
|
|
|
218,534 |
|
|
|
205,328 |
|
|
|
186,718 |
|
Accumulated other comprehensive income (loss), net of tax |
|
|
(39,186 |
) |
|
|
(3,820 |
) |
|
|
930 |
|
|
|
7,032 |
|
|
|
4,720 |
|
Treasury stock |
|
|
(178,028 |
) |
|
|
(178,028 |
) |
|
|
(168,143 |
) |
|
|
(145,461 |
) |
|
|
(138,276 |
) |
Total stockholders’ equity |
|
|
815,954 |
|
|
|
827,258 |
|
|
|
817,610 |
|
|
|
732,054 |
|
|
|
711,892 |
|
Total liabilities and stockholders’ equity |
|
$ |
7,591,137 |
|
|
$ |
7,725,621 |
|
|
$ |
7,667,370 |
|
|
$ |
6,373,172 |
|
|
$ |
6,365,631 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
(1) Allowance for credit losses |
|
$ |
63,978 |
|
|
$ |
64,413 |
|
|
$ |
64,245 |
|
|
$ |
52,756 |
|
|
$ |
53,469 |
|
Equity Bancshares, Inc.
PRESS RELEASE
TABLE 4. SELECTED FINANCIAL HIGHLIGHTS (Unaudited) |
|
|||||||||||||||||||
(Dollars in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
As of and for the Three Months Ended |
|
|||||||||||||||||
|
|
September 30, |
|
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
2025 |
|
|||||
Loans Held For Investment by Type |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Commercial real estate |
|
$ |
2,997,362 |
|
|
$ |
2,968,281 |
|
|
$ |
2,958,263 |
|
|
$ |
2,226,348 |
|
|
$ |
2,216,180 |
|
Commercial and industrial |
|
|
953,875 |
|
|
|
955,380 |
|
|
|
967,049 |
|
|
|
816,885 |
|
|
|
907,439 |
|
Residential real estate |
|
|
695,861 |
|
|
|
710,948 |
|
|
|
720,441 |
|
|
|
582,145 |
|
|
|
590,598 |
|
Agricultural real estate |
|
|
443,966 |
|
|
|
419,830 |
|
|
|
431,308 |
|
|
|
278,927 |
|
|
|
272,087 |
|
Agricultural |
|
|
249,233 |
|
|
|
247,327 |
|
|
|
249,053 |
|
|
|
188,475 |
|
|
|
174,517 |
|
Consumer |
|
|
104,585 |
|
|
|
103,952 |
|
|
|
102,161 |
|
|
|
105,400 |
|
|
|
107,766 |
|
Total loans held-for-investment |
|
|
5,444,882 |
|
|
|
5,405,718 |
|
|
|
5,428,275 |
|
|
|
4,198,180 |
|
|
|
4,268,587 |
|
Allowance for credit losses |
|
|
(63,978 |
) |
|
|
(64,413 |
) |
|
|
(64,245 |
) |
|
|
(52,756 |
) |
|
|
(53,469 |
) |
Net loans held for investment |
|
$ |
5,380,904 |
|
|
$ |
5,341,305 |
|
|
$ |
5,364,030 |
|
|
$ |
4,145,424 |
|
|
$ |
4,215,118 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Asset Quality Indicators |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Nonaccrual loans |
|
$ |
68,970 |
|
|
$ |
60,474 |
|
|
$ |
52,440 |
|
|
$ |
40,275 |
|
|
$ |
48,574 |
|
Past due loans |
|
|
29,066 |
|
|
|
23,666 |
|
|
|
48,750 |
|
|
|
23,786 |
|
|
|
17,682 |
|
Nonperforming assets |
|
|
75,393 |
|
|
|
66,315 |
|
|
|
58,341 |
|
|
|
46,710 |
|
|
|
52,629 |
|
Net charge-offs |
|
|
2,092 |
|
|
|
1,660 |
|
|
|
1,380 |
|
|
|
697 |
|
|
|
1,104 |
|
Purchase accounting discount |
|
|
6,227 |
|
|
|
7,256 |
|
|
|
8,083 |
|
|
|
3,543 |
|
|
|
4,658 |
|
Allowance for credit losses |
|
|
63,978 |
|
|
|
64,413 |
|
|
|
64,245 |
|
|
|
52,756 |
|
|
|
53,469 |
|
Non-purchase credit deteriorated and purchased seasoned loans discount |
|
|
19,664 |
|
|
|
22,090 |
|
|
|
23,929 |
|
|
|
13,982 |
|
|
|
14,998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Asset Quality Ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Allowance for credit losses on loans to total loans |
|
|
1.18 |
% |
|
|
1.19 |
% |
|
|
1.18 |
% |
|
|
1.26 |
% |
|
|
1.25 |
% |
Allowance for credit losses and discounts on loans to |
|
|
1.65 |
% |
|
|
1.73 |
% |
|
|
1.77 |
% |
|
|
1.67 |
% |
|
|
1.71 |
% |
Past due or nonaccrual loans to total loans |
|
|
1.80 |
% |
|
|
1.56 |
% |
|
|
1.86 |
% |
|
|
1.53 |
% |
|
|
1.55 |
% |
Nonperforming assets to total assets |
|
|
0.99 |
% |
|
|
0.86 |
% |
|
|
0.76 |
% |
|
|
0.73 |
% |
|
|
0.83 |
% |
Nonperforming assets to total loans plus other |
|
|
1.38 |
% |
|
|
1.23 |
% |
|
|
1.07 |
% |
|
|
1.11 |
% |
|
|
1.23 |
% |
Classified assets to bank total regulatory capital |
|
|
10.42 |
% |
|
|
11.82 |
% |
|
|
12.00 |
% |
|
|
12.06 |
% |
|
|
12.37 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Selected Average Balance Sheet Data (QTD Average) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Investment securities |
|
$ |
1,268,127 |
|
|
$ |
1,158,422 |
|
|
$ |
1,126,252 |
|
|
$ |
937,277 |
|
|
$ |
915,988 |
|
Total gross loans receivable |
|
|
5,394,462 |
|
|
|
5,389,418 |
|
|
|
5,454,281 |
|
|
|
4,209,562 |
|
|
|
4,247,338 |
|
Interest-earning assets |
|
|
6,873,429 |
|
|
|
6,795,426 |
|
|
|
6,896,216 |
|
|
|
5,642,066 |
|
|
|
5,574,875 |
|
Total assets |
|
|
7,408,928 |
|
|
|
7,330,174 |
|
|
|
7,451,709 |
|
|
|
6,141,284 |
|
|
|
6,085,064 |
|
Interest-bearing deposits |
|
|
4,948,658 |
|
|
|
4,916,741 |
|
|
|
4,921,946 |
|
|
|
3,918,343 |
|
|
|
3,838,731 |
|
Borrowings |
|
|
408,898 |
|
|
|
333,556 |
|
|
|
348,714 |
|
|
|
276,531 |
|
|
|
300,402 |
|
Total interest-bearing liabilities |
|
|
5,357,556 |
|
|
|
5,250,297 |
|
|
|
5,270,660 |
|
|
|
4,194,874 |
|
|
|
4,139,133 |
|
Total deposits |
|
|
6,104,328 |
|
|
|
6,110,974 |
|
|
|
6,193,296 |
|
|
|
5,073,696 |
|
|
|
5,004,830 |
|
Total liabilities |
|
|
6,573,377 |
|
|
|
6,505,540 |
|
|
|
6,609,629 |
|
|
|
5,415,628 |
|
|
|
5,369,642 |
|
Total stockholders' equity |
|
|
835,551 |
|
|
|
824,633 |
|
|
|
841,838 |
|
|
|
725,651 |
|
|
|
715,319 |
|
Tangible common equity* |
|
|
697,458 |
|
|
|
684,552 |
|
|
|
700,096 |
|
|
|
616,872 |
|
|
|
620,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Performance ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Return on average assets (ROAA) annualized |
|
|
1.43 |
% |
|
|
1.45 |
% |
|
|
0.92 |
% |
|
|
1.43 |
% |
|
|
(1.93 |
)% |
Return on average equity (ROAE) annualized |
|
|
12.71 |
% |
|
|
12.86 |
% |
|
|
8.17 |
% |
|
|
12.07 |
% |
|
|
(16.45 |
)% |
Return on average tangible common equity |
|
|
16.10 |
% |
|
|
16.59 |
% |
|
|
10.77 |
% |
|
|
14.91 |
% |
|
|
(18.31 |
)% |
Yield on loans annualized |
|
|
6.71 |
% |
|
|
6.74 |
% |
|
|
6.80 |
% |
|
|
7.01 |
% |
|
|
7.18 |
% |
Cost of interest-bearing deposits annualized |
|
|
2.53 |
% |
|
|
2.46 |
% |
|
|
2.51 |
% |
|
|
2.43 |
% |
|
|
2.58 |
% |
Equity Bancshares, Inc.
PRESS RELEASE
Cost of total deposits annualized |
|
|
2.05 |
% |
|
|
1.98 |
% |
|
|
2.00 |
% |
|
|
1.88 |
% |
|
|
1.98 |
% |
Net interest margin annualized |
|
|
4.20 |
% |
|
|
4.36 |
% |
|
|
4.33 |
% |
|
|
4.47 |
% |
|
|
4.45 |
% |
Efficiency ratio* |
|
|
53.99 |
% |
|
|
53.38 |
% |
|
|
56.68 |
% |
|
|
59.98 |
% |
|
|
58.31 |
% |
Non-interest income / average assets |
|
|
0.58 |
% |
|
|
0.44 |
% |
|
|
0.52 |
% |
|
|
0.62 |
% |
|
|
(2.90 |
)% |
Non-interest expense / average assets |
|
|
2.58 |
% |
|
|
2.57 |
% |
|
|
2.99 |
% |
|
|
3.01 |
% |
|
|
3.20 |
% |
Dividend payout ratio |
|
|
17.18 |
% |
|
|
14.18 |
% |
|
|
22.31 |
% |
|
|
15.73 |
% |
|
|
(11.78 |
)% |
Performance ratios - Core |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Core earnings per diluted share* |
|
$ |
1.40 |
|
|
$ |
1.41 |
|
|
$ |
1.32 |
|
|
$ |
1.26 |
|
|
$ |
1.21 |
|
Core return on average assets* |
|
|
1.56 |
% |
|
|
1.61 |
% |
|
|
1.52 |
% |
|
|
1.57 |
% |
|
|
1.51 |
% |
Core return on average equity* |
|
|
13.78 |
% |
|
|
14.26 |
% |
|
|
13.41 |
% |
|
|
13.23 |
% |
|
|
12.47 |
% |
Core return on average tangible common equity* |
|
|
16.51 |
% |
|
|
17.17 |
% |
|
|
16.10 |
% |
|
|
15.56 |
% |
|
|
14.30 |
% |
Core non-interest expense / average assets* |
|
|
2.42 |
% |
|
|
2.43 |
% |
|
|
2.57 |
% |
|
|
2.82 |
% |
|
|
2.71 |
% |
Capital Ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Tier 1 Leverage Ratio |
|
|
10.18 |
% |
|
|
9.97 |
% |
|
|
9.59 |
% |
|
|
10.64 |
% |
|
|
10.41 |
% |
Common Equity Tier 1 Capital Ratio |
|
|
12.15 |
% |
|
|
11.84 |
% |
|
|
11.54 |
% |
|
|
13.08 |
% |
|
|
12.84 |
% |
Tier 1 Risk Based Capital Ratio |
|
|
12.56 |
% |
|
|
12.26 |
% |
|
|
11.96 |
% |
|
|
13.59 |
% |
|
|
13.35 |
% |
Total Risk Based Capital Ratio |
|
|
14.94 |
% |
|
|
14.66 |
% |
|
|
14.36 |
% |
|
|
16.31 |
% |
|
|
16.09 |
% |
Total stockholders' equity to total assets |
|
|
10.75 |
% |
|
|
10.71 |
% |
|
|
10.66 |
% |
|
|
11.49 |
% |
|
|
11.18 |
% |
Tangible common equity to tangible assets* |
|
|
9.10 |
% |
|
|
9.07 |
% |
|
|
8.99 |
% |
|
|
9.94 |
% |
|
|
9.68 |
% |
Book value per common share |
|
$ |
39.59 |
|
|
$ |
40.22 |
|
|
$ |
39.37 |
|
|
$ |
38.64 |
|
|
$ |
37.25 |
|
Tangible book value per common share* |
|
$ |
32.93 |
|
|
$ |
33.45 |
|
|
$ |
32.58 |
|
|
$ |
32.86 |
|
|
$ |
31.69 |
|
Tangible book value per diluted common share* |
|
$ |
32.62 |
|
|
$ |
33.06 |
|
|
$ |
32.30 |
|
|
$ |
32.43 |
|
|
$ |
31.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
* The value noted is considered a Non-GAAP financial measure. For a reconciliation of Non-GAAP financial measures, see Table 8. Non-GAAP Financial Measures. |
|
|||||||||||||||||||
Equity Bancshares, Inc.
PRESS RELEASE
TABLE 5. YEAR-TO-DATE NET INTEREST INCOME ANALYSIS (Unaudited)
(Dollars in thousands)
|
For the Nine Months Ended |
|
|
For the Nine Months Ended |
|
||||||||||||||||||
|
September 30, 2026 |
|
|
September 30, 2025 |
|
||||||||||||||||||
|
Average Outstanding Balance |
|
|
Interest Income/ Expense |
|
|
Average |
|
|
Average Outstanding Balance |
|
|
Interest Income/ Expense |
|
|
Average |
|
||||||
Interest-earning assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Loans (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial and industrial |
$ |
986,701 |
|
|
$ |
51,000 |
|
|
|
6.91 |
% |
|
$ |
790,372 |
|
|
$ |
46,479 |
|
|
|
7.86 |
% |
Commercial real estate |
|
2,385,690 |
|
|
|
114,031 |
|
|
|
6.39 |
% |
|
|
1,528,190 |
|
|
|
81,363 |
|
|
|
7.12 |
% |
Real estate construction |
|
736,026 |
|
|
|
38,738 |
|
|
|
7.04 |
% |
|
|
475,225 |
|
|
|
28,028 |
|
|
|
7.89 |
% |
Residential real estate |
|
738,615 |
|
|
|
27,822 |
|
|
|
5.04 |
% |
|
|
569,279 |
|
|
|
20,437 |
|
|
|
4.80 |
% |
Agricultural real estate |
|
460,196 |
|
|
|
23,179 |
|
|
|
6.73 |
% |
|
|
255,618 |
|
|
|
15,153 |
|
|
|
7.93 |
% |
Agricultural |
|
267,933 |
|
|
|
13,378 |
|
|
|
6.68 |
% |
|
|
103,685 |
|
|
|
6,379 |
|
|
|
8.23 |
% |
Consumer |
|
111,056 |
|
|
|
5,168 |
|
|
|
6.22 |
% |
|
|
97,943 |
|
|
|
4,937 |
|
|
|
6.74 |
% |
Total loans |
|
5,686,217 |
|
|
|
273,316 |
|
|
|
6.43 |
% |
|
|
3,820,312 |
|
|
|
202,776 |
|
|
|
7.10 |
% |
Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Taxable securities |
|
1,162,719 |
|
|
|
44,112 |
|
|
|
5.07 |
% |
|
|
906,804 |
|
|
|
27,351 |
|
|
|
4.03 |
% |
Nontaxable securities |
|
22,068 |
|
|
|
619 |
|
|
|
3.75 |
% |
|
|
50,171 |
|
|
|
1,042 |
|
|
|
2.78 |
% |
Total securities |
|
1,184,787 |
|
|
|
44,731 |
|
|
|
5.05 |
% |
|
|
956,975 |
|
|
|
28,393 |
|
|
|
3.97 |
% |
Federal funds sold and other |
|
265,733 |
|
|
|
6,767 |
|
|
|
3.40 |
% |
|
|
271,854 |
|
|
|
8,800 |
|
|
|
4.33 |
% |
Total interest-earning assets |
$ |
7,136,737 |
|
|
$ |
324,814 |
|
|
|
6.09 |
% |
|
$ |
5,049,141 |
|
|
|
239,969 |
|
|
|
6.35 |
% |
Interest-bearing liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Demand, savings and money market deposits |
$ |
3,523,442 |
|
|
$ |
54,090 |
|
|
|
2.05 |
% |
|
$ |
2,627,001 |
|
|
|
43,152 |
|
|
|
2.20 |
% |
Time deposits |
|
1,618,032 |
|
|
|
38,045 |
|
|
|
3.14 |
% |
|
|
816,748 |
|
|
|
21,305 |
|
|
|
3.49 |
% |
Total interest-bearing deposits |
|
5,141,474 |
|
|
|
92,135 |
|
|
|
2.40 |
% |
|
|
3,443,749 |
|
|
|
64,457 |
|
|
|
2.50 |
% |
FHLB advances |
|
218,402 |
|
|
|
6,228 |
|
|
|
3.81 |
% |
|
|
217,150 |
|
|
|
6,881 |
|
|
|
4.24 |
% |
Other borrowings |
|
147,011 |
|
|
|
6,074 |
|
|
|
5.52 |
% |
|
|
138,847 |
|
|
|
6,052 |
|
|
|
5.83 |
% |
Total interest-bearing liabilities |
$ |
5,506,887 |
|
|
$ |
104,437 |
|
|
|
2.54 |
% |
|
$ |
3,799,746 |
|
|
|
77,390 |
|
|
|
2.72 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net interest income |
|
|
|
$ |
220,377 |
|
|
|
|
|
|
|
|
$ |
162,579 |
|
|
|
|
||||
Interest rate spread |
|
|
|
|
|
|
|
3.55 |
% |
|
|
|
|
|
|
|
|
3.63 |
% |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net interest margin (2) |
|
|
|
|
|
|
|
4.13 |
% |
|
|
|
|
|
|
|
|
4.31 |
% |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
(1) Average loan balances include nonaccrual loans. |
|
||||||||||||||||||||||
(2) Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets for the period. |
|
||||||||||||||||||||||
(3) Tax exempt income is not included in the above table on a tax-equivalent basis. |
|
||||||||||||||||||||||
(4) Actual unrounded values are used to calculate the reported yield or rate disclosed. Accordingly, recalculations using the amounts in thousands as disclosed in this report may not produce the same amounts. |
|
||||||||||||||||||||||
Equity Bancshares, Inc.
PRESS RELEASE
TABLE 6. QUARTER-TO-DATE NET INTEREST INCOME ANALYSIS (Unaudited)
(Dollars in thousands)
|
For the Three Months Ended |
|
|
For the Three Months Ended |
|
||||||||||||||||||
|
September 30, 2026 |
|
|
September 30, 2025 |
|
||||||||||||||||||
|
Average Outstanding Balance |
|
|
Interest Income/ Expense |
|
|
Average |
|
|
Average Outstanding Balance |
|
|
Interest Income/ Expense |
|
|
Average |
|
||||||
Interest-earning assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Loans (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial and industrial |
|
902,095 |
|
|
$ |
16,542 |
|
|
|
7.28 |
% |
|
$ |
934,768 |
|
|
$ |
18,234 |
|
|
|
7.74 |
% |
Commercial real estate |
|
2,256,516 |
|
|
|
38,800 |
|
|
|
6.82 |
% |
|
|
1,745,714 |
|
|
|
31,729 |
|
|
|
7.21 |
% |
Real estate construction |
|
748,956 |
|
|
|
12,967 |
|
|
|
6.87 |
% |
|
|
505,345 |
|
|
|
10,109 |
|
|
|
7.94 |
% |
Residential real estate |
|
702,123 |
|
|
|
9,146 |
|
|
|
5.17 |
% |
|
|
575,341 |
|
|
|
6,849 |
|
|
|
4.72 |
% |
Agricultural real estate |
|
439,616 |
|
|
|
7,818 |
|
|
|
7.06 |
% |
|
|
245,017 |
|
|
|
5,165 |
|
|
|
8.36 |
% |
Agricultural |
|
239,629 |
|
|
|
4,235 |
|
|
|
7.01 |
% |
|
|
132,095 |
|
|
|
2,981 |
|
|
|
8.95 |
% |
Consumer |
|
105,527 |
|
|
|
1,769 |
|
|
|
6.65 |
% |
|
|
109,058 |
|
|
|
1,844 |
|
|
|
6.71 |
% |
Total loans |
|
5,394,462 |
|
|
|
91,277 |
|
|
|
6.71 |
% |
|
|
4,247,338 |
|
|
|
76,911 |
|
|
|
7.18 |
% |
Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Taxable securities |
|
1,247,436 |
|
|
|
15,575 |
|
|
|
4.95 |
% |
|
|
875,646 |
|
|
|
9,416 |
|
|
|
4.27 |
% |
Nontaxable securities |
|
20,691 |
|
|
|
190 |
|
|
|
3.63 |
% |
|
|
40,342 |
|
|
|
307 |
|
|
|
3.02 |
% |
Total securities |
|
1,268,127 |
|
|
|
15,765 |
|
|
|
4.93 |
% |
|
|
915,988 |
|
|
|
9,723 |
|
|
|
4.21 |
% |
Federal funds sold and other |
|
210,840 |
|
|
|
1,924 |
|
|
|
3.62 |
% |
|
|
411,549 |
|
|
|
4,464 |
|
|
|
4.30 |
% |
Total interest-earning assets |
$ |
6,873,429 |
|
|
|
108,966 |
|
|
|
6.29 |
% |
|
$ |
5,574,875 |
|
|
|
91,098 |
|
|
|
6.48 |
% |
Interest-bearing liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Demand, savings and money market deposits |
$ |
3,425,796 |
|
|
|
18,651 |
|
|
|
2.16 |
% |
|
$ |
2,876,118 |
|
|
|
16,394 |
|
|
|
2.26 |
% |
Time deposits |
|
1,522,862 |
|
|
|
12,863 |
|
|
|
3.35 |
% |
|
|
962,613 |
|
|
|
8,596 |
|
|
|
3.54 |
% |
Total interest-bearing deposits |
|
4,948,658 |
|
|
|
31,514 |
|
|
|
2.53 |
% |
|
|
3,838,731 |
|
|
|
24,990 |
|
|
|
2.58 |
% |
FHLB advances |
|
262,769 |
|
|
|
2,556 |
|
|
|
3.86 |
% |
|
|
168,011 |
|
|
|
1,741 |
|
|
|
4.11 |
% |
Other borrowings |
|
146,129 |
|
|
|
2,055 |
|
|
|
5.58 |
% |
|
|
132,391 |
|
|
|
1,882 |
|
|
|
5.64 |
% |
Total interest-bearing liabilities |
$ |
5,357,556 |
|
|
|
36,125 |
|
|
|
2.68 |
% |
|
$ |
4,139,133 |
|
|
|
28,613 |
|
|
|
2.74 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net interest income |
|
|
|
$ |
72,841 |
|
|
|
|
|
|
|
|
$ |
62,485 |
|
|
|
|
||||
Interest rate spread |
|
|
|
|
|
|
|
3.61 |
% |
|
|
|
|
|
|
|
|
3.74 |
% |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net interest margin (2) |
|
|
|
|
|
|
|
4.20 |
% |
|
|
|
|
|
|
|
|
4.45 |
% |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
(1) Average loan balances include nonaccrual loans. |
|
||||||||||||||||||||||
(2) Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets for the period. |
|
||||||||||||||||||||||
(3) Tax exempt income is not included in the above table on a tax-equivalent basis. |
|
||||||||||||||||||||||
(4) Actual unrounded values are used to calculate the reported yield or rate disclosed. Accordingly, recalculations using the amounts in thousands as disclosed in this report may not produce the same amounts. |
|
||||||||||||||||||||||
Equity Bancshares, Inc.
PRESS RELEASE
TABLE 7. QUARTER-OVER-QUARTER NET INTEREST INCOME ANALYSIS (Unaudited)
(Dollars in thousands)
|
For the Three Months Ended |
|
|
For the Three Months Ended |
|
||||||||||||||||||
|
September 30, 2026 |
|
|
June 30, 2026 |
|
||||||||||||||||||
|
Average Outstanding Balance |
|
|
Interest Income/ Expense |
|
|
Average |
|
|
Average Outstanding Balance |
|
|
Interest Income/ Expense |
|
|
Average |
|
||||||
Interest-earning assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Loans (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Commercial and industrial |
|
902,095 |
|
|
$ |
16,542 |
|
|
|
7.28 |
% |
|
|
930,538 |
|
|
$ |
16,759 |
|
|
|
7.22 |
% |
Commercial real estate |
|
2,256,516 |
|
|
|
38,800 |
|
|
|
6.82 |
% |
|
|
2,202,740 |
|
|
|
37,254 |
|
|
|
6.78 |
% |
Real estate construction |
|
748,956 |
|
|
|
12,967 |
|
|
|
6.87 |
% |
|
|
785,932 |
|
|
|
13,840 |
|
|
|
7.06 |
% |
Residential real estate |
|
702,123 |
|
|
|
9,146 |
|
|
|
5.17 |
% |
|
|
695,937 |
|
|
|
9,024 |
|
|
|
5.20 |
% |
Agricultural real estate |
|
439,616 |
|
|
|
7,818 |
|
|
|
7.06 |
% |
|
|
434,041 |
|
|
|
7,647 |
|
|
|
7.07 |
% |
Agricultural |
|
239,629 |
|
|
|
4,235 |
|
|
|
7.01 |
% |
|
|
236,758 |
|
|
|
4,363 |
|
|
|
7.39 |
% |
Consumer |
|
105,527 |
|
|
|
1,769 |
|
|
|
6.65 |
% |
|
|
103,472 |
|
|
|
1,690 |
|
|
|
6.55 |
% |
Total loans |
|
5,394,462 |
|
|
|
91,277 |
|
|
|
6.71 |
% |
|
|
5,389,418 |
|
|
|
90,577 |
|
|
|
6.74 |
% |
Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Taxable securities |
|
1,247,436 |
|
|
|
15,575 |
|
|
|
4.95 |
% |
|
|
1,136,862 |
|
|
|
14,878 |
|
|
|
5.25 |
% |
Nontaxable securities |
|
20,691 |
|
|
|
190 |
|
|
|
3.63 |
% |
|
|
21,560 |
|
|
|
207 |
|
|
|
3.85 |
% |
Total securities |
|
1,268,127 |
|
|
|
15,765 |
|
|
|
4.93 |
% |
|
|
1,158,422 |
|
|
|
15,085 |
|
|
|
5.22 |
% |
Federal funds sold and other |
|
210,840 |
|
|
|
1,924 |
|
|
|
3.62 |
% |
|
|
247,586 |
|
|
|
2,162 |
|
|
|
3.50 |
% |
Total interest-earning assets |
$ |
6,873,429 |
|
|
|
108,966 |
|
|
|
6.29 |
% |
|
$ |
6,795,426 |
|
|
|
107,824 |
|
|
|
6.36 |
% |
Interest-bearing liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Demand savings and money market deposits |
$ |
3,425,796 |
|
|
|
18,651 |
|
|
|
2.16 |
% |
|
$ |
3,422,011 |
|
|
|
17,995 |
|
|
|
2.11 |
% |
Time deposits |
|
1,522,862 |
|
|
|
12,863 |
|
|
|
3.35 |
% |
|
|
1,494,730 |
|
|
|
12,148 |
|
|
|
3.26 |
% |
Total interest-bearing deposits |
|
4,948,658 |
|
|
|
31,514 |
|
|
|
2.53 |
% |
|
|
4,916,741 |
|
|
|
30,143 |
|
|
|
2.46 |
% |
FHLB advances |
|
262,769 |
|
|
|
2,556 |
|
|
|
3.86 |
% |
|
|
189,336 |
|
|
|
1,786 |
|
|
|
3.78 |
% |
Other borrowings |
|
146,129 |
|
|
|
2,055 |
|
|
|
5.58 |
% |
|
|
144,220 |
|
|
|
2,023 |
|
|
|
5.63 |
% |
Total interest-bearing liabilities |
$ |
5,357,556 |
|
|
|
36,125 |
|
|
|
2.68 |
% |
|
$ |
5,250,297 |
|
|
|
33,952 |
|
|
|
2.59 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net interest income |
|
|
|
$ |
72,841 |
|
|
|
|
|
|
|
|
$ |
73,872 |
|
|
|
|
||||
Interest rate spread |
|
|
|
|
|
|
|
3.61 |
% |
|
|
|
|
|
|
|
|
3.77 |
% |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Net interest margin (2) |
|
|
|
|
|
|
|
4.20 |
% |
|
|
|
|
|
|
|
|
4.36 |
% |
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
(1) Average loan balances include nonaccrual loans. |
|
||||||||||||||||||||||
(2) Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets for the period. |
|
||||||||||||||||||||||
(3) Tax exempt income is not included in the above table on a tax-equivalent basis. |
|
||||||||||||||||||||||
(4) Actual unrounded values are used to calculate the reported yield or rate disclosed. Accordingly, recalculations using the amounts in thousands as disclosed in this report may not produce the same amounts. |
|
||||||||||||||||||||||
Equity Bancshares, Inc.
PRESS RELEASE
TABLE 8. NON-GAAP FINANCIAL MEASURES (Unaudited) |
|
|||||||||||||||||||
(Dollars in thousands, except per share data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
|
As of and for the Three Months Ended |
|
|||||||||||||||||
|
|
September 30, |
|
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
2025 |
|
|||||
Core Net Income Reconciliation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Net income (loss) allocable to common stockholders |
|
$ |
26,774 |
|
|
$ |
26,439 |
|
|
$ |
16,966 |
|
|
$ |
22,084 |
|
|
$ |
(29,663 |
) |
Amortization of intangible assets |
|
|
1,942 |
|
|
|
2,369 |
|
|
|
2,056 |
|
|
|
1,390 |
|
|
|
1,312 |
|
Tax effect of adjustments |
|
|
(408 |
) |
|
|
(497 |
) |
|
|
(432 |
) |
|
|
(292 |
) |
|
|
(276 |
) |
Adjusted net income (loss) allocable to common stockholders* |
|
|
28,308 |
|
|
|
28,311 |
|
|
|
18,590 |
|
|
|
23,182 |
|
|
|
(28,627 |
) |
Net (gain) loss on securities transactions |
|
|
(10 |
) |
|
|
1,213 |
|
|
|
108 |
|
|
|
(154 |
) |
|
|
53,352 |
|
Merger expenses |
|
|
967 |
|
|
|
133 |
|
|
|
5,725 |
|
|
|
1,481 |
|
|
|
6,163 |
|
Day 2 Merger provision |
|
|
— |
|
|
|
— |
|
|
|
6,099 |
|
|
|
— |
|
|
|
6,228 |
|
Tax effect of adjustments |
|
|
(201 |
) |
|
|
(283 |
) |
|
|
(2,506 |
) |
|
|
(279 |
) |
|
|
(13,806 |
) |
Core net income (loss) allocable to common |
|
$ |
29,064 |
|
|
$ |
29,374 |
|
|
$ |
28,016 |
|
|
$ |
24,230 |
|
|
$ |
23,310 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Average Balances and Share Data |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total average assets |
|
$ |
7,408,928 |
|
|
$ |
7,330,174 |
|
|
$ |
7,451,709 |
|
|
$ |
6,141,284 |
|
|
$ |
6,085,064 |
|
Total average stockholders' equity |
|
|
835,551 |
|
|
|
824,633 |
|
|
|
841,838 |
|
|
|
725,651 |
|
|
|
715,319 |
|
Average intangible assets |
|
|
(138,093 |
) |
|
|
(140,081 |
) |
|
|
(141,742 |
) |
|
|
(108,779 |
) |
|
|
(95,046 |
) |
Average tangible common equity* |
|
|
697,458 |
|
|
|
684,552 |
|
|
|
700,096 |
|
|
|
616,872 |
|
|
|
620,273 |
|
Average impact from core earnings adjustments |
|
|
378 |
|
|
|
532 |
|
|
|
4,713 |
|
|
|
524 |
|
|
|
25,969 |
|
Core average tangible common equity* |
|
$ |
697,836 |
|
|
$ |
685,084 |
|
|
$ |
704,809 |
|
|
$ |
617,396 |
|
|
$ |
646,242 |
|
Weighted average diluted common shares |
|
|
20,802,722 |
|
|
|
20,825,444 |
|
|
|
21,263,164 |
|
|
|
19,235,412 |
|
|
|
19,129,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Per Share Data and Return Measures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Diluted earnings (loss) per share |
|
$ |
1.29 |
|
|
$ |
1.27 |
|
|
$ |
0.80 |
|
|
$ |
1.15 |
|
|
$ |
(1.55 |
) |
Core earnings per diluted share* |
|
$ |
1.40 |
|
|
$ |
1.41 |
|
|
$ |
1.32 |
|
|
$ |
1.26 |
|
|
$ |
1.22 |
|
Return on average assets (ROAA) annualized |
|
|
1.43 |
% |
|
|
1.45 |
% |
|
|
0.92 |
% |
|
|
1.43 |
% |
|
|
(1.93 |
)% |
Core return on average assets (Core ROAA) annualized |
|
|
1.56 |
% |
|
|
1.61 |
% |
|
|
1.52 |
% |
|
|
1.57 |
% |
|
|
1.51 |
% |
Return on average equity (ROAE) annualized |
|
|
12.71 |
% |
|
|
12.86 |
% |
|
|
8.17 |
% |
|
|
12.07 |
% |
|
|
(16.45 |
)% |
Core return on average equity (ROAE) annualized |
|
|
13.78 |
% |
|
|
14.26 |
% |
|
|
13.41 |
% |
|
|
13.23 |
% |
|
|
12.47 |
% |
Return on average tangible common equity*(2) |
|
|
16.10 |
% |
|
|
16.59 |
% |
|
|
10.77 |
% |
|
|
14.91 |
% |
|
|
(18.31 |
)% |
Core return on average tangible common equity |
|
|
16.52 |
% |
|
|
17.20 |
% |
|
|
16.12 |
% |
|
|
15.57 |
% |
|
|
14.31 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Efficiency and Expense Measures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Non-interest expense |
|
$ |
48,114 |
|
|
$ |
46,885 |
|
|
$ |
54,969 |
|
|
$ |
46,587 |
|
|
$ |
49,082 |
|
Merger expenses |
|
|
(967 |
) |
|
|
(133 |
) |
|
|
(5,725 |
) |
|
|
(1,481 |
) |
|
|
(6,163 |
) |
Amortization of intangible assets |
|
|
(1,942 |
) |
|
|
(2,369 |
) |
|
|
(2,056 |
) |
|
|
(1,390 |
) |
|
|
(1,312 |
) |
Adjusted non-interest expense*(3) |
|
$ |
45,205 |
|
|
$ |
44,383 |
|
|
$ |
47,188 |
|
|
$ |
43,716 |
|
|
$ |
41,607 |
|
Net interest income |
|
|
72,841 |
|
|
|
73,872 |
|
|
|
73,664 |
|
|
|
63,502 |
|
|
|
62,485 |
|
Non-interest income |
|
|
10,904 |
|
|
|
8,058 |
|
|
|
9,487 |
|
|
|
9,532 |
|
|
|
(44,479 |
) |
Net (gain) loss on securities transactions |
|
|
(10 |
) |
|
|
1,213 |
|
|
|
108 |
|
|
|
(154 |
) |
|
|
53,352 |
|
Adjusted non-interest income* |
|
$ |
10,894 |
|
|
$ |
9,271 |
|
|
$ |
9,595 |
|
|
$ |
9,378 |
|
|
$ |
8,873 |
|
Net interest income plus adjusted non-interest |
|
$ |
83,735 |
|
|
$ |
83,143 |
|
|
$ |
83,259 |
|
|
$ |
72,880 |
|
|
$ |
71,358 |
|
Non-interest expense to net interest income plus |
|
|
57.45 |
% |
|
|
57.23 |
% |
|
|
66.11 |
% |
|
|
63.79 |
% |
|
|
272.59 |
% |
Efficiency ratio* |
|
|
53.99 |
% |
|
|
53.38 |
% |
|
|
56.68 |
% |
|
|
59.98 |
% |
|
|
58.31 |
% |
Core non-interest expense to average assets*(3) |
|
|
2.42 |
% |
|
|
2.43 |
% |
|
|
2.57 |
% |
|
|
2.82 |
% |
|
|
2.71 |
% |
Equity Bancshares, Inc.
PRESS RELEASE
|
|
As of and for the Three Months Ended |
|
|||||||||||||||||
|
|
September 30, |
|
|
June 30, |
|
|
March 31, |
|
|
December 31, |
|
|
September 30, |
|
|||||
|
|
2026 |
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
|
2025 |
|
|||||
Tangible Capital and Book Value (Period-End) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total stockholders' equity |
|
$ |
815,954 |
|
|
$ |
827,258 |
|
|
$ |
817,610 |
|
|
$ |
732,054 |
|
|
$ |
711,892 |
|
Goodwill |
|
|
(105,356 |
) |
|
|
(105,356 |
) |
|
|
(104,958 |
) |
|
|
(82,101 |
) |
|
|
(77,573 |
) |
Core deposit intangibles, net |
|
|
(26,485 |
) |
|
|
(28,296 |
) |
|
|
(30,536 |
) |
|
|
(21,634 |
) |
|
|
(22,895 |
) |
Naming rights, net |
|
|
(5,476 |
) |
|
|
(5,553 |
) |
|
|
(5,629 |
) |
|
|
(5,703 |
) |
|
|
(5,778 |
) |
Tangible common equity* |
|
$ |
678,637 |
|
|
$ |
688,053 |
|
|
$ |
676,487 |
|
|
$ |
622,616 |
|
|
$ |
605,646 |
|
Common shares outstanding at period end |
|
|
20,610,134 |
|
|
|
20,567,009 |
|
|
|
20,767,023 |
|
|
|
18,944,987 |
|
|
|
19,111,084 |
|
Diluted common shares outstanding at period end |
|
|
20,805,774 |
|
|
|
20,811,448 |
|
|
|
20,946,924 |
|
|
|
19,196,160 |
|
|
|
19,279,741 |
|
Book value per common share |
|
$ |
39.59 |
|
|
$ |
40.22 |
|
|
$ |
39.37 |
|
|
$ |
38.64 |
|
|
$ |
37.25 |
|
Tangible book value per common share* |
|
$ |
32.93 |
|
|
$ |
33.45 |
|
|
$ |
32.58 |
|
|
$ |
32.86 |
|
|
$ |
31.69 |
|
Tangible book value per diluted common share* |
|
$ |
32.62 |
|
|
$ |
33.06 |
|
|
$ |
32.30 |
|
|
$ |
32.43 |
|
|
$ |
31.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Total assets |
|
$ |
7,591,137 |
|
|
$ |
7,725,621 |
|
|
$ |
7,667,370 |
|
|
$ |
6,373,172 |
|
|
$ |
6,365,631 |
|
Goodwill |
|
|
(105,356 |
) |
|
|
(105,356 |
) |
|
|
(104,958 |
) |
|
|
(82,101 |
) |
|
|
(77,573 |
) |
Core deposit intangibles, net |
|
|
(26,485 |
) |
|
|
(28,296 |
) |
|
|
(30,536 |
) |
|
|
(21,634 |
) |
|
|
(22,895 |
) |
Naming rights, net |
|
|
(5,476 |
) |
|
|
(5,553 |
) |
|
|
(5,629 |
) |
|
|
(5,703 |
) |
|
|
(5,778 |
) |
Tangible assets* |
|
$ |
7,453,820 |
|
|
$ |
7,586,416 |
|
|
$ |
7,526,247 |
|
|
$ |
6,263,734 |
|
|
$ |
6,259,385 |
|
Total stockholders' equity total assets |
|
|
10.75 |
% |
|
|
10.71 |
% |
|
|
10.66 |
% |
|
|
11.49 |
% |
|
|
11.18 |
% |
Tangible common equity to tangible assets* |
|
|
9.10 |
% |
|
|
9.07 |
% |
|
|
8.99 |
% |
|
|
9.94 |
% |
|
|
9.68 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
* Non-GAAP financial measure. All other measures are calculated from GAAP amounts. |
|
|||||||||||||||||||
(1) ROATCE is calculated using adjusted net income allocable to common stockholders (net income plus amortization of intangible assets, net of tax) divided by average tangible common equity. |
|
|||||||||||||||||||
(2) Core ROAE and CROATCE are calculated using average stockholders’ equity and average tangible common equity, respectively, adjusted for the average effect of the core earnings adjustments. |
|
|||||||||||||||||||
(3) Core non-interest expense is adjusted non-interest expense. |
|
|||||||||||||||||||
Exhibit 99.2
Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor provisions provided by the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements reflect the current views of Equity’s management with respect to, among other things, future events and Equity’s financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about Equity’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond Equity’s control. Accordingly, Equity cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Equity believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from Equity’s expectations include competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses; and similar variables. The foregoing list of factors is not exhaustive. In addition, the following factors, among others, related to the transaction between Equity and Lincoln Bancorp (“Lincoln”) could cause actual outcomes and results to differ materially from forward-looking statements or historical performance: the possibility that the anticipated benefits of the transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where companies do business; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; Lincoln and Equity’s ability to obtain required governmental approvals of the proposed transaction on the timeline expected, or at all, and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company after the closing of the proposed transaction or adversely affect the expected benefits of the proposed transaction; the failure to obtain the necessary approvals by the shareholders of Lincoln; the failure to satisfy other conditions to completion of the proposed merger, or any unexpected delay in closing the proposed transaction or the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the transaction; the business, economic and political conditions in the markets in which the parties operate; the risk that the proposed combination could have an adverse effect the parties’ ability to retain customers and retain or hire key personnel and maintain relationships with customers; the risk that the combination may be more difficult, time-consuming or expensive than anticipated; and other factors that may affect future results of Equity. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Equity’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 6, 2026, as amended, and any updates to those risk factors set forth in Equity’s subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Equity’s underlying assumptions prove to be incorrect, actual results may differ materially from what Equity anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Equity does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties arise from time to time, and it is not possible for us to predict those events or how they may affect us. In addition, Equity cannot assess the impact of each factor on Equity’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this presentation are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Equity or persons acting on Equity’s behalf may issue. ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT In connection with the proposed transaction with Lincoln, Equity filed with the SEC a registration statement on Form S-4 to register the shares of Equity’s Class A common stock to be issued to the shareholders of Lincoln. The registration statement includes a proxy statement/prospectus, which will be sent to the shareholders of Lincoln seeking their approval of the proposed transaction. WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON FORM S-4, THE PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EQUITY, LINCOLN AND THE PROPOSED TRANSACTION. The documents filed by Equity with the SEC may be obtained free of charge at Equity’s investor relations website at investor.equitybank.com or at the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from Equity upon written request to Equity Bancshares, Inc., Attn: Investor Relations, 7701 East Kellogg Drive, Suite 300, Wichita, Kansas 67207 or by calling (316) 612-6000. NO OFFER OR SOLICITATION This communication is for informational purposes only and is not intended to and does not constitute an offer to subscribe for, buy or sell, or the solicitation of an offer to subscribe for, buy or sell, or an invitation to subscribe for, buy or sell any securities or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, invitation, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, and otherwise in accordance with applicable law. NON-GAAP FINANCIAL MEASURES This presentation contains certain non-GAAP financial measures intended to supplement, not substitute for, comparable GAAP measures. Reconciliations of non-GAAP financial measures to GAAP financial measures are provided at the end of this presentation. Numbers in the presentation may not sum due to rounding.
3rd Quarter 2026 | Financial Highlights Non-GAAP Financial Measure. Refer to the Non-GAAP reconciliation at the end of this presentation. Excludes Day 2 Merger provision of $6.1M in Q1 2026 $26.8M Net Income $1.29 Earnings Per Diluted Share 1.43% Return on Average Assets 12.71% Return on Average Equity Key Performance Metrics Q3 2026 Q2 2026 Q1 2026 Earnings & Profitability Earnings Per Diluted Share | Core Earnings Per Share1 $1.29 | $1.40 $1.27 | $1.41 $0.80 | $1.32 Book Value Per Share | TBV Per Share1 $39.59 | $32.93 $40.22 | $33.45 $39.37 | $32.58 Net Income | Core Net Income1 $26.8M | $29.1M $26.4M | $29.4M $17.0M | $28.0M Net Interest Margin 4.20% 4.36% 4.33% Efficiency Ratio1 53.99% 53.38% 56.68% ROAA | Core ROAA1 1.43% | 1.56% 1.45% | 1.61% 0.92% | 1.52% ROAE | Core ROATCE1 12.71% | 16.51% 12.86% | 17.17% 8.17% | 16.10% Balance Sheet & Capital Gross Loans $5.44B $5.41B $5.43B Total Deposits $6.17B $6.30B $6.30B Total Equity / Total Assets | TCE / TA1 10.75% | 9.10% 10.71% | 9.07% 10.66% | 8.99% CET 1 Capital Ratio 12.15% 11.84% 11.54% Total Risk-based Capital Ratio 14.94% 14.66% 14.36% Asset Quality Provision for Credit Losses $1.7M $1.3M $(0.1)M2 NCOs / Avg. Loans 0.15% 0.12% 0.10% NPAs / Total Assets 0.99% 0.86% 0.76% Classified Assets / Regulatory Capital 10.42% 11.82% 12.00%
Equity Bancshares, Inc.| M&A Overview SCALE 14 Completed Bank Acquisitions SINCE IPO 2002 2008 2015 2026 GROWTH 4 acquisitions IPO $380M $1.6B Est. Strategic Execution Of Acquisitions Since IPO $5.524 $5.084 $1.55 Core Earnings Per Share2 $7.7B $9.1B START-UP 4 acquisitions Total Closed Acquisitions 14 Asset CAGR Since IPO3 17.12% Core EPS CAGR Since IPO3 11.39% Overview $7.6B Total Assets $5.4B Gross Loans $6.2B Total Deposits $972M Market Capitalization1 9.10% Tangible Common Equity / Tangible Assets2 12.15% Common Equity Tier 1 14.94% Total Risk-Based Capital $32.93 Tangible Book Value Per Share2 Market Capitalization as of 9/30/2026 Non-GAAP Financial Measure. Refer to the Non-GAAP reconciliation at the end of this presentation. Compound Annual Growth Rate is pro forma as of 2026 year-end with the inclusion of Lincoln Savings Bank 2026 EPS estimate is based on street consensus. EPS inclusive of Lincoln is 2027 consensus estimate plus the impact of the transaction ($0.27)
Brad Elliott Chairman & CEO Equity Bancshares, Inc. Founded Equity Bank in 2002 and has led the organization to nearly $8B in assets through disciplined organic growth and over a dozen strategic acquisitions. Named a 2018 EY Entrepreneur of the Year National Finalist and recognized as Most Influential CEO by the Wichita Business Journal in 2014. Rick Sems Chief Executive Officer Equity Bank Equity Bank CEO since May 2024, having joined as President in May 2023. Prior to Equity, Rick served as Chief Banking Officer of First Bank in St. Louis and as President & CEO of Reliance Bank, bringing deep commercial banking leadership to the organization. Chris Navratil Chief Financial Officer Chief Financial Officer since August 2023. Previously served as Bank CFO and spent seven years within the Financial Institution Audit Practice at Crowe LLP, bringing rigorous financial reporting and regulatory expertise to the executive team. Julie Huber Chief Operating Officer Chief Operating Officer since May 2024. Held a variety of senior leadership roles at Equity Bank overseeing operations, HR, compliance, and sales and training. Served as the primary integration lead for each of the bank's acquisitions. Brett Reber General Counsel Prior to joining Equity Bank, served as Managing Member of Wise & Reber, L.C. Brett has practiced corporate and business law for more than 30 years, providing legal counsel across the full spectrum of the bank's corporate, regulatory, and transactional matters. Krzysztof Slupkowski Chief Credit Officer Chief Credit Officer since September 2023. Previously served as Metro Market CCO at Equity Bank since 2018 and held various credit leadership roles at Commerce Bancshares, bringing strong portfolio risk discipline to the organization. David Pass Chief Information Officer Previously served in senior IT leadership positions at UMB Financial Corporation and CoBiz Financial, overseeing technology strategy, core systems, and digital infrastructure across complex multi-bank organizations. Equity Bancshares, Inc.| Leadership Team
Our Value Proposition Our guiding principles and commitment to entrepreneurial spirit are part of our longstanding framework for delivering shareholder value Organic Growth Strategic Mergers & Acquisitions Disciplined Credit Standards Effective Balance Sheet & Capital Management EPS & Tangible Book Value Growth
Tangible Book Value Per Share | IPO to Current Tangible Book Value Per Share | Quarter over Quarter Walk Tangible Book Value Per Share1 6.96% TBVPS CAGR Q2 2026 Q3 2026 Non-GAAP Financial Measure. Refer to the Non-GAAP reconciliation at the end of this presentation.
Non-GAAP Financial Measure. Refer to the Non-GAAP reconciliation at the end of this presentation. Q3 2025 actual figures not considered meaningful due to the loss from securities repositioning Return On Average Tangible Common Equity1 Return on Average Assets1 Efficiency Ratio & NIE to Average Assets1 Tangible Common Equity / Tangible Assets1 Performance Metrics
Net Income Non-GAAP Financial Measure. Refer to the Non-GAAP reconciliation at the end of this presentation. 1 Q2 2026 Q3 2026 1 Net interest income was $72.8 million, down from $73.9 million in the prior quarter. A rising cost of funds and a lower yield on earning assets drove the decline. Margin for the quarter was 4.20%, down from 4.36% in the prior quarter. Average earning assets grew $78.0 million, driven by investment purchases funded with borrowings, which added to the margin decline. Period-end loan balances were $50.2 million above the quarterly average. Together with the full-period effect of the FOMC's September rate increase, we expect this to offset deposit pricing competition and return margin to 4.25% to 4.35% in the fourth quarter, excluding the impact of Lincoln. Total non-interest income was $10.9 million, up $2.8 million from the prior quarter. Excluding prior-quarter one-time items, it rose $0.6 million. Service charges and fees, treasury services, card income, mortgage and trust and wealth management drove the growth. Excluding securities gains and losses, income is up $2.0 million, or 22.9%, year over year. Excluding Lincoln, we expect fourth quarter non-interest income of $10.0 million to $11.0 million. Total non-interest expense was $48.1 million, compared to $46.9 million in the prior quarter. Excluding merger expenses in both periods, expense was $47.2 million, up from $46.8 million. Non-interest expense to average assets was effectively flat at 2.58%, down from 3.20% in the same period last year. The efficiency ratio was 58.61%. Excluding Lincoln, we expect fourth quarter non-interest expense of $47 million to $48 million. Net Interest Income Non-Interest Income Non-Interest Expense
Profitability Noninterest income is adjusted to exclude any gain/(loss) on securities transactions Revenue Composition1 Profitability Ratios1
Net Interest Margin Quarter over Quarter Net Interest Margin 4.36% Q2 4.20% Q3 Q2 2026 Q3 2026 Cost Analysis Yield Analysis1 Loan Coupon exclusive of the impact of derivatives, purchase accounting, non-accrual, mortgage premium amort, and loan fees
$6.2B Total Deposits Deposit Composition Loan Composition Performance Highlights 88.28% Loan-to- Deposit Ratio 91.47% Core Dep. / Total Deposit 2.05% Cost of Total Deposits 2.53% Cost of Int-bearing Deposits 6.72% Yield on Total Loans 6.40% Loan Coupon Yield1 0.15% NCOs / Average Loans 10.42% Classified Assets / Reg. Capital Balance Sheet Loan Coupon exclusive of the impact of derivatives, purchase accounting, non-accrual, mortgage premium amort, and loan fees Noninterest- bearing Time < 100K Time > 100K Savings Money Market Interest- bearing Commercial Real-estate Commercial & Industrial Res. RE Ag. RE Ag. Consumer Trending Loan-to-Deposit Ratio $5.4B Total Loans
Asset Quality Trends Annual Quarterly Annual Quarterly
Asset Quality Trends Annual Quarterly Annual Quarterly
Non-GAAP Financial Measure. Refer to the Non-GAAP reconciliation at the end of this presentation. EQBK Minimum Required Dividends Declared Per Share & Dividend Payout Ratio Shares Repurchased & Weighted Avg. Price Per Share 1 Thousands Capital Priorities Maintain well capitalized regulatory levels Capacity for organic growth Dividend payout ratio targeted at 10-20% Mergers & acquisitions Common stock repurchases Capital Management
Deploying Technology & AI Live IN PRODUCTION · 1H 2026 ✓ Retail AI Assistant – internal use ✓ Human Resources AI Assistant ✓ Loan Review – streamlining production to focus effort on review and decisioning ✓ Third Party Risk Management – automate diligence review production and round-the-clock monitoring ✓ Financial crime initial reviews In Process BUILDING NOW ✓ Customer Care AI Assistant – internal use ✓ Operations AI Assistant ✓ Credit spread & narrative production for loan packets. Reduce time to produce and focus effort on review and decisioning. ✓ Acquired and Target loan portfolio review – automate line sheet documentation to focus effort on review and decisioning. AI-LICENSED USERS OTHER SOLUTIONS Next Phase ON THE ROADMAP ✓ Small business loan process automation ✓ SAR narratives – streamline production and focus effort on review and validation 160 739 AI GOVERNANCE COMMITTEE ✓ Centralized oversight of how AI is built, deployed & used ✓ Reviews new use cases; validates models & vendors ✓ Approves all AI output; a human in the loop at every step ✓ Captures efficiency gains with full risk & regulatory discipline Impact MEASURED RESULTS TO DATE 35-40% FASTER LOAN REVIEW Legacy Equity portfolio ~$500K PLACEMENT FEE SAVINGS AI-assisted talent sourcing ~5 min INITIAL RISK REVIEW Third party risk management
Core Non-interest Income is exclusive of gain / (loss) on securities transactions Core Non-interest Expense is exclusive of merger expenses All forward looking statements in the Q4 2026 outlook exclude the addition of Lincoln Savings Bank Forward Looking Q4 2026 $6,175 – 6,275M $5,475 – 5,575M $6,850 – 6,950M 4.25 – 4.35% $1-3M $10-11M $47-48M 21.5 – 22.5% Outlook on Key Business Drivers NOTE: Figures presented in this outlook represent forward-looking statements and are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. Please see Special Note Concerning Forward-Looking Statements and Focus Variables for Outlook and Forecast 3rd Quarter 2026 Results $6,104M Avg. Deposits $5,394M Avg. Gross Loans $6,873M Avg. Earning Assets 4.20% Net Interest Margin $1.7M Provision For Credit Losses $10.9M Core Non-interest Income1 $47.1M Core Non-interest Expense2 21.2% Effective Tax Rate
Economic Environment Business activity creates opportunity for lending and deposit growth. Current macro-environment response and resolution will be a significant driver. Customer Needs Directly related to credit quality as well as trust in our business. Cost of Funding Impacts rates on our product offerings and applies pressure to earnings. Must be able to manage cost and profit yields effectively. Competitive Market Providing customers with rates and services that are competitive with our peers. Irrational operators may have short term impact on opportunities. Investment Opportunities Growth strategy must be flexible to the other variables that affect our investment options. Political Environment U.S. politics affect banking regulations, international relationships, tax policies and more. Focus Variables for Outlook & Forecast
Our Markets Nebraska Kansas Iowa EQBK Lincoln Market Share Kansas #6 Market Rank $2.5B Market Deposits 3.93% Market Share Oklahoma #10 Market Rank $1.3B Market Deposits 1.53% Market Share Missouri #8 Market Rank $1.0B Market Deposits 1.50% Market Share Nebraska #9 Market Rank $1.1B Market Deposits 2.12% Market Share Arkansas #10 Market Rank $319M Market Deposits 2.56% Market Share Iowa1 #6 Market Rank $1.5B Market Deposits 5.17% Market Share Market Footprint1 Equity Bancshares Headquarters Source: S&P Capital IQ, Deposit Market data as of 6/30/26. Market rank is based on counties with a EQBK physical presence. Iowa includes EQBK positioning with Lincoln Savings Bank after the anticipated close of the acquisition in Q4 2026
Quarter Ended September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Total stockholder's equity $815,954 $827,258 $817,610 $732,054 $711,892 Goodwill (105,356) (105,356) (104,958) (82,101) (77,573) Core deposit intangibles, net (26,485) (28,296) (30,536) (21,634) (22,895) Naming rights, net (5,476) (5,553) (5,629) (5,703) (5,778) Tangible Common Equity $678,637 $688,053 $676,487 $622,616 $605,646 Common shares outstanding at period end 20,610,134 20,567,009 20,767,023 18,944,987 19,111,084 Diluted common shares outstanding at period end 20,805,774 20,811,448 20,946,924 19,196,160 19,279,741 Book value per common share $39.59 $40.22 $39.37 $38.64 $37.25 Tangible book value per common share $32.93 $33.45 $32.58 $32.86 $31.69 Tangible book value per diluted common share $32.62 $33.06 $32.30 $32.43 $31.41 Total assets $7,591,137 $7,725,621 $7,667,370 $6,373,172 $6,365,631 Goodwill (105,356) (105,356) (104,958) (82,101) (77,573) Core deposit intangibles, net (26,485) (28,296) (30,536) (21,634) (22,895) Naming rights, net (5,476) (5,553) (5,629) (5,703) (5,778) Tangible assets $7,453,820 $7,586,416 $7,526,247 $6,263,734 $6,259,385 Total stockholders' equity to total assets 10.75% 10.71% 10.66% 11.49% 11.18% Tangible common equity to tangible assets 9.10% 9.07% 8.99% 9.94% 9.68% Non-GAAP reconciliations Calculations of tangible common equity and related measures ($ in thousands, except per share data)
Quarter Ended September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Total average stockholders' equity $835,551 $824,633 $841,838 $725,651 $715,319 Average intangible assets (138,093) (140,081) (141,742) (108,779) (95,046) Average tangible common equity $697,458 $684,552 $700,096 $616,872 $620,273 Net income (loss) allocable to common stockholders 26,774 26,439 16,966 22,084 (29,663) Net gain on acquisition - - - - - Net (gain) loss on securities transactions (10) 1,213 108 (154) 53,352 Merger expenses 967 133 5,725 1,481 6,163 Loss on debt extinguishment - - - - - Day 2 Merger provision - - 6,099 - 6,228 Amortization of intangible assets 1,942 2,369 2,056 1,390 1,312 Tax effect of intangible assets amortization (609) (780) (2,937) (571) (14,082) Core net income (loss) allocable to common stockholders $29,064 $29,374 $28,017 $24,230 $23,310 Return on total average stockholders' equity (ROAE) annualized 12.71% 12.86% 8.17% 12.07% (16.45)% Average tangible common equity $697,458 $684,552 $700,096 $616,872 $620,273 Average impact from core earnings adjustments 1,145 1,468 2,476 1,073 26,487 Core average tangible common equity $698,603 $686,020 $702,572 $617,945 $646,760 Return on total average tangible common equity (ROATCE) annualized 16.10% 16.59% 10.77% 14.91% (18.31)% Core return on total average tangible common equity (CROATCE) annualized 16.51% 17.17% 16.10% 15.56% 14.30% Non-interest expense $48,114 $46,885 $54,969 $46,587 $49,082 Merger expense (967) (133) (5,725) (1,481) (6,163) Amortization of intangible assets (1,942) (2,369) (2,056) (1,390) (1,312) Loss on debt extinguishment - - - - - Adjusted non-interest expense $45,205 $44,383 $47,188 $43,716 $41,607 Net interest income $72,841 $73,872 $73,664 $63,502 $62,485 Non-interest income 10,904 8,058 9,487 9,532 (44,479) Net gains (losses) from securities transactions (10) 1,213 108 (154) 53,352 Adjusted non-interest income $10,894 $9,271 $9,595 $9,378 $8,873 Net interest income plus adjusted non-interest income $83,735 $83,143 $83,259 $72,880 $71,358 Non-interest expense to net interest income plus non-interest income 57.45% 57.23% 66.11% 63.79% 272.59% Efficiency ratio 53.99% 53.38% 56.68% 59.98% 58.31% Average Assets $7,408,928 $7,330,174 $7,451,709 $6,141,284 $6,085,064 Core non-interest expense to average assets 2.42% 2.43% 2.57% 2.82% 2.71% Non-GAAP reconciliations Calculations of return on average tangible common equity and efficiency ratio ($ in thousands, except per share data)
Quarter Ended September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 Net income (loss) allocable to common stockholders 26,774 26,439 16,966 22,084 (29,663) Amortization of intangible assets 1,942 2,369 2,056 1,390 1,312 Tax effect of adjustments (408) (497) (432) (292) (276) Adjusted net income allocable to common stockholders $28,308 $28,311 $18,590 $23,182 $(28,627) Net (gain) loss on securities transactions (10) 1,213 108 (154) 53,352 Merger expenses 967 133 5,725 1,481 6,163 Loss on debt extinguishment - - - - - Day 2 Merger provision - - 6,099 - 6,228 Tax effect of adjustments (201) (283) (2,505) (279) (13,806) Core net income (loss) allocable to common stockholders $29,064 $29,374 $28,017 $24,230 $23,310 Total average assets $7,408,928 $7,330,174 $7,451,709 $6,141,284 $6,085,064 Total average stockholders' equity $835,551 $824,633 $841,838 $725,651 $715,319 Weighted Average Diluted Shares 20,802,722 20,825,444 21,263,164 19,235,412 19,286,514 Diluted earnings (loss) per share $1.29 $1.27 $0.80 $1.15 $(1.55) Core earnings (loss) per diluted share $1.40 $1.41 $1.32 $1.26 $1.21 Return on average assets (ROAA) annualized 1.43% 1.45% 0.92% 1.43% (1.93)% Core return on average assets annualized 1.56% 1.61% 1.52% 1.57% 1.51% Return on average equity (ROAE) 12.71% 12.86% 8.17% 12.07% (16.45)% Core return on average equity 13.78% 14.26% 13.41% 13.23% 12.47% Non-GAAP reconciliations Calculations of return on average assets, average equity and operating income ($ in thousands, except per share data)
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