Financial Data and Key Metrics Changes - Net income for the quarter was $14.9 million, or $0.90 per diluted share, adjusted for merger expenses to $16.1 million or $1.03 per diluted share [76] - Net interest income increased by $4.7 million linked quarter, with net interest margin improving from 3.49% to 3.75% [76][52] - Average loans increased at an annualized rate of 11.1%, excluding the impact of the Bank of Kirksville, which added $67.6 million in average balance [50] Business Line Data and Key Metrics Changes - Service revenues improved quarter-over-quarter, driven by contributions from card, trust and wealth management, service charges, and mortgage [59] - Non-interest income, adjusted for losses on repositioning investments, was up $4.5 million linked quarter, with service fee revenue improving by 5% [77] - The cost of interest-bearing deposits increased by 19 basis points to 2.77% [51] Market Data and Key Metrics Changes - Total deposits closed the quarter at $4.4 billion, with loans as a percentage of deposits at 79.7% [56] - The Bank of Kirksville transaction was accretive, contributing to the deposit growth and overall market expansion [58] Company Strategy and Development Direction - The company aims for mid- to high-single digit organic loan growth in 2024, focusing on both organic and acquisitive growth avenues [58] - The strategic directives for 2024 emphasize value creation through deepening customer relationships and enhancing service levels [62] - The company is actively pursuing M&A opportunities while maintaining a disciplined approach to assessing these opportunities [63] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the loan growth potential, particularly in light of competitors pulling back due to balance sheet constraints [8] - The company has not seen specific deterioration in any of its portfolios and continues to hold reserves for potential economic challenges [80][85] - Management highlighted the importance of proactive conversations with borrowers regarding upcoming loan maturities to mitigate risks [109] Other Important Information - The company successfully closed a merger transaction in 67 days, showcasing effective execution in a challenging environment [54] - The integration of systems following the Bank of Kirksville transaction is expected to be completed in Q2, with cost savings anticipated thereafter [91] Q&A Session Summary Question: How does the company view the higher for longer rate environment regarding deposit rates? - Management indicated that they are not factoring in changes in interest rates in their current forecast, expecting deposit rates to peak between 40% and 50% [5][15] Question: What is the outlook for loan growth and funding sources? - Management expressed optimism about loan growth coming from both client deposit growth and potential asset remixing [10][44] Question: Can you provide details on the credit quality and asset recovery efforts? - Management noted that problem assets are well reserved, and they do not foresee further losses or recoveries in that space [66][85] Question: What are the expectations for M&A activity and share buybacks? - Management confirmed that they will remain active in the buyback market while also pursuing M&A opportunities, balancing both strategies [123]

Equity Bancshares (EQBK) came out with quarterly earnings of $1.03 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.82 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.18%. A quarter ago, it was expected that this bank holding company would post earnings of $0.65 per share when it actually produced earnings of $0.77, delivering a surprise of 18.46%.Over the last four quarter ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) Equity Bancshares reported a strong first quarter for 2024, highlighted by record net interest income of $44.2 million and significant net interest margin expansion to 3.75% Q1 2024 Key Financial Results | Metric | Value | Note | | :--- | :--- | :--- | | Net Income | $14.1 million | - | | Diluted EPS (GAAP) | $0.90 | - | | Diluted EPS (Adjusted) | $1.03 | Excludes $1.6 million merger expenses and $1.0 million provisioning | - Completed the all-cash acquisition of Rockhold Bancorp, adding eight locations, **$118.7 million** in loans, and **$349.6 million** in deposits. A gain on acquisition of **$1.2 million** was recorded[2](index=2&type=chunk)[3](index=3&type=chunk) - Net interest income reached an all-time high of **$44.2 million** for the quarter[3](index=3&type=chunk) - Gross loans held-for-investment grew by **$149.3 million** in the quarter. Excluding the acquisition, organic loan growth was **$30.6 million**, representing a **3.70%** annualized rate[3](index=3&type=chunk) - The company repurchased **209,591 shares** at a weighted average cost of **$32.24**, with **790,409 shares** remaining available for purchase under the current plan[3](index=3&type=chunk) - Asset quality remains strong, with the classified asset ratio at a historically low **6.65%** of total risk-based capital and the allowance for credit losses at **1.28%** of total loans[3](index=3&type=chunk) [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) This section analyzes key financial performance metrics including record net interest income, credit loss provisions, non-interest income, expenses, and effective tax rates [Net Interest Income](index=2&type=section&id=Net%20Interest%20Income) Net interest income reached a record $44.2 million in Q1 2024, a significant increase from $39.5 million in the previous quarter Net Interest Income and Margin (Q1 2024 vs. Q4 2023) | Metric | Q1 2024 | Q4 2023 | Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $44.2 million | $39.5 million | +$4.7 million | | Net Interest Margin (NIM) | 3.75% | 3.49% | +26 bps | | Yield on Interest-Earning Assets | 6.09% | 5.69% | +40 bps | | Cost of Interest-Bearing Deposits | 2.77% | 2.58% | +19 bps | - Key drivers for the improved asset yield include the Bank's bond portfolio re-positioning, purchase accounting accretion from the acquisition, and improving loan coupons[5](index=5&type=chunk) [Provision for Credit Losses](index=2&type=section&id=Provision%20for%20Credit%20Losses) The company recorded a provision for credit losses of $1.0 million, an increase from $711 thousand in the prior quarter Credit Loss Provision and Net Charge-offs (Q1 2024 vs. Q4 2023) | Metric | Q1 2024 | Q4 2023 | | :--- | :--- | :--- | | Provision for Credit Losses | $1.0 million | $711 thousand | | Net Charge-offs | $668 thousand | $1.4 million | - The entire provision for the quarter was for establishing reserves on loans acquired in the Rockhold Bancorp acquisition[6](index=6&type=chunk) [Non-Interest Income](index=2&type=section&id=Non-Interest%20Income) Total non-interest income was $11.7 million for Q1 2024, driven by positive resolutions of specific loan assets and a gain on the Rockhold acquisition Non-Interest Income (Q1 2024 vs. Q4 2023 Adjusted) | Period | Non-Interest Income (Reported) | Non-Interest Income (Adjusted) | | :--- | :--- | :--- | | Q1 2024 | $11.7 million | $10.4 million | | Q4 2023 | $(43.4) million | $7.3 million | - Adjusted non-interest income for Q1 2024 excludes a **$1.2 million** gain on acquisition and a **$43 thousand** gain on securities transactions, while Q4 2023 adjusted income excludes a **$50.7 million** loss on securities transactions[7](index=7&type=chunk)[40](index=40&type=chunk) - The increase was primarily driven by a **$3.0 million** gain on the resolution of specific loan assets and a **$1.2 million** gain on the acquisition, which was attributable to the improved fair value of Bank of Kirksville's bond portfolio[7](index=7&type=chunk)[8](index=8&type=chunk) [Non-Interest Expense](index=2&type=section&id=Non-Interest%20Expense) Non-interest expense increased to $37.1 million from $35.0 million in the prior quarter, primarily due to the newly acquired Bank of Kirksville and compensation adjustments Non-Interest Expense (Q1 2024 vs. Q4 2023) | Metric | Q1 2024 | Q4 2023 | | :--- | :--- | :--- | | Total Non-Interest Expense | $37.1 million | $35.0 million | | Merger Expenses | $1.6 million | $0.3 million | - The quarter-over-quarter increase was driven by the addition of Bank of Kirksville expenses, annual compensation adjustments, and early-year payroll tax dynamics[9](index=9&type=chunk) [Income Tax Expense](index=2&type=section&id=Income%20Tax%20Expense) The effective tax rate for Q1 2024 was 20.8%, an increase from the normalized rate of 7.5% in Q4 2023 - The effective tax rate was **20.8%** for Q1 2024, an increase from the normalized rate of **7.5%** in Q4 2023[10](index=10&type=chunk) - The rate increase was caused by a lower benefit from tax credit investments, offset by a tax benefit from the gain on the Rockhold acquisition[10](index=10&type=chunk) [Balance Sheet and Asset Quality](index=4&type=section&id=Balance%20Sheet%20and%20Asset%20Quality) This section details the company's balance sheet growth, including increases in total assets, loans, and deposits, alongside a review of stable asset quality metrics [Loans, Total Assets and Funding](index=4&type=section&id=Loans%2C%20Total%20Assets%20and%20Funding) As of March 31, 2024, total assets increased by 4.1% to $5.20 billion, with significant growth in loans and deposits driven by the Rockhold acquisition Key Balance Sheet Items (as of March 31, 2024) | Metric | Value | Quarterly Change | | :--- | :--- | :--- | | Total Assets | $5.20 billion | +$204.4 million | | Loans Held for Investment | $3.48 billion | +$149.3 million | | Total Deposits | $4.4 billion | +$225.6 million | - The company replaced a matured **$140.0 million** Federal Reserve Bank borrowing with borrowings from the Federal Home Loan Bank, increasing total FHLB borrowings to **$219.9 million**[13](index=13&type=chunk) [Asset Quality](index=4&type=section&id=Asset%20Quality) Asset quality remained strong and stable as of March 31, 2024, with consistent allowance for credit losses and improved classified asset ratios Asset Quality Ratios (Q1 2024 vs. Q4 2023) | Metric | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Allowance for Credit Losses / Total Loans | 1.3% | 1.3% | | Nonperforming Assets / Total Assets | 0.5% | 0.5% | | Classified Assets / Regulatory Capital | 6.65% | 7.1% | - Non-accrual loans decreased to **$24.2 million** from **$25.0 million** at the end of the prior quarter[14](index=14&type=chunk) [Capital Management](index=1&type=section&id=Capital%20Management) This section reviews the company's capital position, including regulatory ratios and changes in book and tangible capital, alongside details of share repurchase activities [Capital Ratios and Position](index=4&type=section&id=Capital%20Ratios%20and%20Position) Book capital increased to $456.8 million, while tangible capital decreased due to acquisition-related intangibles, with all regulatory capital ratios remaining strong Company Capital Ratios (Q1 2024 vs. Q4 2023) | Ratio | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Common Equity Tier 1 (CET1) | 11.1% | 11.7% | | Total Capital to Risk-Weighted Assets | 14.7% | 15.5% | | Total Leverage Ratio | 9.1% | 9.5% | - The decrease in tangible capital was primarily due to the addition of **$11.5 million** in core deposit intangible assets associated with the acquisition[15](index=15&type=chunk) [Share Repurchase Activity](index=1&type=section&id=Share%20Repurchase%20Activity) During the first quarter, the company actively repurchased 209,591 shares at a weighted average price of $32.24, with 790,409 shares remaining available - Purchased **209,591 shares** at a weighted average cost of **$32.24** during Q1 2024[3](index=3&type=chunk) - **790,409 shares** remain available for purchase under the current repurchase plan[3](index=3&type=chunk) [Non-GAAP Financial Measures](index=4&type=section&id=Non-GAAP%20Financial%20Measures) The company utilizes non-GAAP financial measures to supplement GAAP results, providing additional perspectives on operating performance and facilitating peer comparisons - The efficiency ratio is used to understand the expense structure relative to total revenue, excluding non-core items for better peer comparability[19](index=19&type=chunk) - Return on average assets before income tax and provision for loan losses is used to demonstrate 'core' operating performance before these specific expenses[20](index=20&type=chunk) - Tangible common equity and related measures (like ROATCE) are used to evaluate performance consistently by excluding the impact of intangible assets, whether acquired or internally developed[21](index=21&type=chunk) [Unaudited Financial Tables](index=8&type=section&id=Unaudited%20Financial%20Tables) This section provides a comprehensive set of unaudited financial tables detailing the company's financial position and performance for Q1 2024 and comparative periods - The report includes the following unaudited financial tables: - Table 1: Quarterly Consolidated Statements of Income - Table 2: Consolidated Balance Sheets - Table 3: Selected Financial Highlights - Table 4: Quarter-To-Date Net Interest Income Analysis - Table 5: Quarter-Over-Quarter Net Interest Income Analysis - Table 6: Non-GAAP Financial Measures[30](index=30&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37624 EQUITY BANCSHARES, INC. (Exact name of registrant as specified in its charter) Kansas 72-1532188 (State or other jurisdiction of incorpora ...

WICHITA, Kan.--(BUSINESS WIRE)--Equity Bancshares, Inc. (NYSE: EQBK) (“Equity” or the “Company”), the Wichita-based holding company of Equity Bank, announced it completed its merger with Rockhold BanCorp (“Rockhold”), the parent company of the Bank of Kirksville in Kirksville, Missouri. “I’m grateful for the efforts of our Equity Bank team, including our new team members from Bank of Kirksville,” said Brad Elliott, Equity Chairman & CEO. “Our customers have grown to expect first-class service, and we’re ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-37624 EQUITY BANCSHARES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-37624 EQUITY BANCSHARES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incor ...

July 19, 2023 ✓Opened branches in Lees Summit & Overland Park, Kansas ✓Launched Equity Trust & Wealth Management Start-Up: 2002 - 2007 Scale: 2017-2023 Robust Funding Capacity, Anchored by a Diverse, Low-Cost Deposit Base Exhibit 99.2 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. These forward-looking statements reflect the current views of the management ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-37624 EQUITY BANCSHARES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of inco ...

Equity Bancshares, Inc. (NYSE:EQBK) Q1 2023 Earnings Conference Call April 19, 2023 10:00 AM ET Company Participants Chris Navratil - Investor Relations Brad Elliott - Founder, Chairman and Chief Executive Officer Eric Newell - Executive Vice President and Chief Financial Officer John Creech - Chief Credit Officer Craig Anderson - Executive Vice President and President-Equity Bank Conference Call Participants Jeff Rulis - D.A. Davidson Andrew Liesch - Piper Sandler Damon DelMonte - KBW Terry McEvoy - Stephe ...