- Equity Bancshares, Inc. (EQBK, Financial) reported net income of $15 million, or $0.85 per diluted share, for Q1 2025.
- Net interest margin expanded to 4.27%, with an annualized loan growth rate of 15.2%.
- The company announced a strategic merger with NBC Corp. of Oklahoma, adding $682 million in loans and $816 million in deposits.
Equity Bancshares, Inc. (EQBK) demonstrated a robust start to 2025, recording net income of $15 million, translating to $0.85 per diluted share. This reflects a decrease from the previous quarter's $1.04 per diluted share. Despite this decline, the company's strategic advances in its core operations remain noteworthy.
The company's net interest margin (NIM) saw an expansion to 4.27%, showcasing effective balance sheet management amid industry-wide challenges. Excluding non-recurring items, NIM was 4.08%, marking a slight increase from the previous quarter.
Loan growth was a significant highlight for Equity Bancshares, with an annualized increase of 15.2%, driven by a $130.8 million rise in loan balances, bringing the total to $3.63 billion.
Deposits stood at $4.4 billion at the end of Q1, with a loan-to-deposit ratio of 82.4%. However, core deposits experienced a seasonal decline, decreasing by $109.4 million.
The tangible common equity ratio at the close of the quarter was 10.1%, indicating a strong capital position, while the book value per share increased by $1.19, representing a 3.5% growth.
A strategic highlight for the quarter was the announcement of a merger with NBC Corp. of Oklahoma. This acquisition is anticipated to complete at the beginning of Q3 2025 and promises to significantly expand EQBK's footprint, adding approximately $682 million in loans and $816 million in deposits.
Equity Bancshares declared a quarterly dividend of $0.15 per share, maintaining consistent shareholder returns.
