Welcome to our dedicated page for Equity Bancshares news (Ticker: EQBK), a resource for investors and traders seeking the latest updates and insights on Equity Bancshares stock.
Equity Bancshares, Inc. reports company developments for Equity Bank, a Wichita-based community bank holding company whose common stock trades on the NYSE under EQBK. Equity Bank offers commercial loans, consumer banking, mortgage loans, trust and wealth management, and treasury management services across full-service locations in Arkansas, Kansas, Missouri, Nebraska and Oklahoma, with a loan production office in Iowa.
Recurring news includes quarterly operating results, net interest income and margin trends, credit-quality measures, deposit and loan balances, capital levels and branch expansion through completed bank acquisitions. Updates also cover integration of acquired franchises, dividend and balance-sheet actions, and lending relationships involving Equity Bank.
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Equity Bancshares, Inc. (NASDAQ: EQBK) reported a net income of $12.3 million or $0.77 earnings per diluted share for Q1 2023, reflecting a rise from $11.6 million or $0.72 in Q4 2022, driven by higher non-interest income and decreased income tax expense.
Total deposits increased by $46.1 million (4.4% annualized), while cash and cash equivalents rose significantly by $145.9 million. The loan growth excluding PPP and branch sales reached $19.1 million, or 2.4% annualized.
Despite a decline in net interest income to $39.1 million, the company maintained a stable loan-to-deposit ratio of 77.7%. Equity also repurchased $9.6 million of common stock, and recorded improvements in asset quality with nonperforming assets decreasing to 0.3% of total assets.