$EQBK

EQUITY BANCSHARES INC

CIK:0001227500|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income
Loans, including fees	$ 90,577	$ 62,868	$ 182,039	$ 125,865
Securities, taxable	14,878	8,821	28,537	17,935
Securities, nontaxable	207	358	429	735
Federal funds sold and other	2,162	2,140	4,843	4,336
Total interest and dividend income	107,824	74,187	215,848	148,871
Interest expense
Deposits	30,143	20,090	60,621	39,467
Federal funds purchased and retail repurchase agreements	208	219	400	467
Federal Home Loan Bank advances	1,786	2,224	3,672	5,140
Bank stock loan	0	0	4	0
Subordinated debt	1,815	1,852	3,615	3,703
Total interest expense	33,952	24,385	68,312	48,777
Net interest income	73,872	49,802	147,536	100,094
Provision (reversal) for credit losses	1,304	19	7,259	2,741
Net interest income after provision (reversal) for credit losses	72,568	49,783	140,277	97,353
Non-interest income
Increase in value of bank-owned life insurance	1,623	1,321	3,021	4,914
Net gain (loss) from securities transactions	(1,213)	12	(1,321)	24
Other	1,254	1,815	3,493	3,866
Total non-interest income	8,058	8,589	17,545	18,919
Non-interest expense
Salaries and employee benefits	24,594	19,735	50,849	39,689
Net occupancy and equipment	4,624	3,482	9,413	7,157
Data processing	5,190	5,055	10,578	10,141
Professional fees	1,400	1,361	3,168	2,888
Advertising and business development	1,547	1,208	3,213	2,552
Telecommunications	604	588	1,294	1,175
FDIC insurance	1,165	464	1,930	1,094
Courier and postage	518	834	1,163	1,633
Free nationwide ATM cost	595	547	1,161	1,060
Amortization of core deposit intangibles	2,240	1,016	4,168	2,061
Loan expense	546	281	1,044	410
Other real estate owned and repossessed assets, net	35	103	126	204
Loss on debt extinguishment	0	1,361	0	1,361
Merger expenses	133	355	5,858	421
Other	3,694	3,611	7,889	7,205
Total non-interest expense	46,885	40,001	101,854	79,051
Income (loss) before income tax	33,741	18,371	55,968	37,221
Provision (benefit) for income taxes	7,302	3,107	12,563	6,916
Net income (loss) and net income (loss) allocable to common stockholders	$ 26,439	$ 15,264	$ 43,405	$ 30,305
Basic earnings (loss) per share	$ 1.28	$ 0.87	$ 2.08	$ 1.73
Diluted earnings (loss) per share	$ 1.27	$ 0.86	$ 2.06	$ 1.72
Service Charges and Fees [Member]
Non-interest income
Non-interest income	$ 2,414	$ 2,177	$ 4,907	$ 4,241
Debit Card Income [Member]
Non-interest income
Non-interest income	3,391	3,052	6,508	5,556
Mortgage Banking [Member]
Non-interest income
Non-interest income	$ 589	$ 212	$ 937	$ 318

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 43,405	$ 30,305
Adjustments to reconcile net income to net cash from operating activities:
Stock-based compensation	3,132	2,639
Depreciation	3,539	2,880
Amortization of operating lease right-of-use asset	684	248
Amortization of cloud computing implementation costs	19	41
Provision (reversal) for credit losses	7,259	2,741
Net amortization (accretion) of purchase valuation adjustments	(6,712)	(1,411)
Amortization (accretion) of premiums and discounts on securities	(5,937)	(889)
Amortization of intangible assets	4,318	2,193
Deferred income taxes	3,512	(1,128)
Federal Home Loan Bank stock dividends	(498)	(622)
Loss (gain) on sales and valuation adjustments on other real estate owned	(72)	(8)
Net loss (gain) on sales and settlements of securities	0	(13)
Change in unrealized (gains) losses on equity securities	1,321	(11)
Loss (gain) on disposal of premises and equipment	(1,192)	15
Loss (gain) on sales and valuation adjustments on repossessed assets	(92)	(34)
Loss on debt extinguishment	0	(1,361)
Loss (gain) on sales of loans	(820)	(253)
Originations of loans held for sale	(41,299)	(12,619)
Proceeds from the sale of loans held for sale	42,231	13,169
Increase in the value of bank-owned life insurance	(3,224)	(4,914)
Change in fair value of derivatives recognized in earnings	192	193
Payments on operating lease payable	(855)	(307)
Net change in:
Interest receivable	6,342	2,685
Other assets	9,291	15,665
Interest payable and other liabilities	(10,389)	(1,983)
Net cash provided by operating activities	54,155	49,943
Cash flows (to) from investing activities
Purchases of available-for-sale securities	(437,897)	(78,940)
Proceeds from sales, calls, pay-downs and maturities of available-for-sale securities	313,112	131,214
Proceeds from calls, pay-downs and maturities of held-to-maturity securities	112	10
Net change in interest-bearing time deposits	97	0
Net change in loans	129,665	(37,239)
Purchase of mortgage loans	(15,923)	0
Purchase of government guaranteed loans	(33,596)	(61,987)
Purchase of premises and equipment	(7,100)	(3,746)
Proceeds from sale of premises and equipment	3,052	450
Proceeds from sale of foreclosed assets	679	5,046
Net redemptions (purchases) of Federal Home Loan Bank and Federal Reserve Bank stock	(1,650)	(6,338)
Net redemptions (purchases) of correspondent and miscellaneous other stock	(700)	(662)
Proceeds from sale of other real estate owned	1,716	456
Proceeds from investments in tax credit structures and resulting contractual obligations	951	0
Proceeds from bank owned life insurance death benefits	808	4,308
Net cash (used in) provided by investing activities	(33,855)	(47,428)
Cash flows (to) from financing activities
Net increase (decrease) in deposits	33,678	(139,927)
Net change in federal funds purchased and retail repurchase agreements	2,962	(826)
Net borrowings (repayments) on Federal Home Loan Bank line of credit	98,019	205,603
Proceeds from Federal Home Loan Bank term advances	159,454	600,000
Principal repayments on Federal Home Loan Bank term advances	(312,204)	(600,000)
Proceeds from Federal Reserve Bank borrowings	2,000	1,000
Principal payments on Federal Reserve Bank borrowings	(2,000)	(1,000)
Proceeds from issuance of common stock, net	0	(73)
Proceeds from the exercise of employee stock options	0	112
Proceeds from employee stock purchase plan	524	446
Principal payments on subordinated debt	0	(75,000)
Principal payments on bank stock loan	(22,486)	0
Purchase of treasury stock	(32,567)	(274)
Net change in contractual obligations	(1,688)	(4,777)
Dividends paid on common stock	(7,278)	(5,342)
Net cash (used in) provided by financing activities	(81,586)	(20,058)
Net change in cash and cash equivalents	(61,286)	(17,543)
Cash and cash equivalents, beginning of period	607,817	383,747
Ending cash and cash equivalents	546,531	366,204
Supplemental cash flow information:
Interest paid	66,532	47,762
Income taxes paid, net of refunds	(287)	10,560
Supplemental noncash disclosures:
Other real estate owned acquired in settlement of loans	49	297
Other repossessed assets acquired in settlement of loans	127	388
Purchase of investments in tax credit structures and resulting contactual obligations	0	10,000
Frontier Holdings, LLC [Member]
Cash flows (to) from investing activities
Cash acquired in purchase of Frontier Holdings, LLC	12,819	0
Supplemental noncash disclosures:
Total fair value of assets acquired in purchase of Frontier Holdings, LLC, net of cash	1,402,787	0
Total fair value of liabilities assumed in purchase of Frontier Holdings, LLC, net of cash	$ 1,307,265	$ 0

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash and due from banks	$ 546,129	$ 607,562
Federal funds sold	402	255
Cash and cash equivalents	546,531	607,817
Interest-bearing deposit in other banks	579	575
Available-for-sale securities	1,229,692	1,030,568
Held-to-maturity securities, fair value of $5,237 and $5,409	5,168	5,248
Loans held for sale	2,723	1,392
Loans, net of allowance for credit losses of $64,413 and $52,756	5,341,305	4,145,424
Other real estate owned, net	3,793	5,388
Premises and equipment, net	141,098	136,720
Bank-owned life insurance	150,514	148,301
Federal Reserve Bank and Federal Home Loan Bank stock	42,719	34,053
Interest receivable	37,730	33,322
Goodwill	105,356	82,101
Core deposit intangibles, net	28,296	21,634
Other	90,117	120,629
Total assets	7,725,621	6,373,172
Deposits
Demand	1,174,903	1,148,409
Total non-interest-bearing deposits	1,174,903	1,148,409
Demand, savings and money market	3,445,538	3,004,987
Time	1,683,376	984,868
Total interest-bearing deposits	5,128,914	3,989,855
Total deposits	6,303,817	5,138,264
Federal funds purchased and retail repurchase agreements	42,826	39,864
Federal Home Loan Bank advances	385,408	300,000
Subordinated debt	98,377	98,145
Contractual obligations	8,520	10,208
Interest payable and other liabilities	59,415	54,637
Total liabilities	6,898,363	5,641,118
Commitments and contingent liabilities, see Notes 12 and 13
Stockholders' equity, see Note 8
Common stock	273	249
Additional paid-in capital	767,608	664,906
Retained earnings	241,225	205,328
Accumulated other comprehensive income (loss)	(3,820)	7,032
Treasury stock	(178,028)	(145,461)
Total stockholders’ equity	827,258	732,054
Total liabilities and stockholders’ equity	$ 7,725,621	$ 6,373,172