10-Q · May 8, 2026
Equity Bancshares, Inc. reported a net income of $17.0 million for Q1 2026, up from $15.0 million in Q1 2025, driven by significant growth in interest income due to mergers with NBC and Frontier. Revenue reached $83.15…
Earnings analysis · 10-Q
EQBK earnings analysis
Filed August 7, 2026 · Our reading of the company's report
The latest report
Equity Bancshares delivered strong second-quarter operating performance, with net interest income up 48.3% year over year, diluted EPS rising to $1.27 from $0.86, and net interest margin improving to 4.36% from 4.17%.…
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Equity Bancshares delivered strong second-quarter operating performance, with net interest income up 48.3% year over year, diluted EPS rising to $1.27 from $0.86, and net interest margin improving to 4.36% from 4.17%. The Frontier and NBC transactions drove substantial loan, deposit and earnings growth, while the efficiency ratio improved to 53.38%. However, nonperforming assets, non-accrual loans, credit provisions and charge-offs all increased, and the balance sheet carries greater exposure to time deposits, FHLB funding and securities-market-value volatility.
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Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.27
- Segment
- Equity Bank is the Company’s only reportable operating segment. Six-month 2026 segment net interest income was $151.072 million, non-interest income was $19.706 million, and segment profit was $50.267 million, versus $103.713 million, $18.919 million, and $35.106 million, respectively, in six-month 2025.
What stood out
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Strong Earnings and Net Interest Growth
Second-quarter net interest income increased 48.3% year over year to $73.872 million from $49.802 million, while net income rose to $26.439 million from $15.264 million and diluted EPS increased to $1.27 from $0.86.
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Margin and Efficiency Improved
Net interest margin improved to 4.36% from 4.17% year over year, while the efficiency ratio improved to 53.38% from 63.62%, reflecting positive operating leverage from the Frontier and NBC mergers.
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Loan Growth Remained Robust
Loans held for investment increased 28.8% to $5.406 billion from $4.198 billion at December 31, 2025, led by commercial real estate loans, which rose 33.3% to $2.968 billion.
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Deposit and Capital Expansion
Deposits grew 22.7% to $6.304 billion from $5.138 billion at year-end 2025, supporting balance-sheet expansion; total stockholders’ equity increased to $827.3 million from $732.1 million.
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Positive Operating Cash Flow
Operating cash flow was $54.155 million for the first six months, versus $49.943 million in the prior-year period. Purchases of premises and equipment were $7.100 million versus $3.746 million, implying approximately $47.055 million of operating cash flow after reported capital purchases.
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Capital Ratios Remain Strong
The company remained well capitalized: Equity Bancshares’ total risk-based capital ratio was 14.66% and its common equity Tier 1 ratio was 11.84% at June 30, 2026; Equity Bank’s corresponding ratios were 14.22% and 13.08%.
What to watch
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Asset Quality Deteriorated
Nonperforming assets increased to $66.315 million from $46.710 million at December 31, 2025, and the nonperforming-assets-to-total-assets ratio rose to 0.86% from 0.73%. Non-accrual loans increased to $60.474 million from $40.276 million.
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Higher Credit Costs and Charge-Offs
The six-month provision for credit losses increased to $7.259 million from $2.741 million, while net charge-offs rose to $3.039 million from $738 thousand. Management cited reserves on purchased seasoned loans acquired in the Frontier transaction and continued market disruption from U.S. trade and fiscal policy.
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Higher Deposit and Funding Costs
Funding mix became more rate-sensitive: time deposits increased to $1.683 billion from $984.9 million, while FHLB advances rose to $385.4 million from $300.0 million. Uninsured deposits represented 29.6% of non-brokered deposits at June 30, 2026.
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Securities Market-Value Pressure
Available-for-sale securities increased to $1.230 billion from $1.031 billion, but gross unrealized losses rose to $10.113 million from $2.888 million. Accumulated other comprehensive income declined to a loss of $3.820 million from income of $7.032 million, creating capital sensitivity to rates.
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Overdraft Litigation Settlement
The company agreed to settle three overdraft-fee lawsuits for approximately $1.150 million in cash and customer credits, with payments expected in the third quarter of 2026.
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No Formal Risk-Factor Update
The filing states that there were no material changes to the risk factors disclosed in the March 6, 2026 Form 10-K. Nonetheless, management reported $6.8 million of potential problem loans at June 30, 2026, compared with $24.6 million at year-end, and cautioned that future credit losses could be substantial relative to the $64.413 million allowance.
Management's outlook
The 10-Q provides no explicit numeric revenue or EPS guidance. Management states it believes daily funding needs can be met through operating cash flow, loan and securities repayments, core deposits, FHLB advances and other borrowing relationships. The previously disclosed 2026 net interest margin outlook was provided outside this 10-Q.
Earlier filings 4
10-K · March 6, 2026
Equity Bancshares presents itself as a strategic consolidator of community banks, pursuing organic commercial loan growth funded by low-cost community deposits. As of December 31, 2025 the company reports total assets…
10-Q · May 9, 2025
EQBK reported sequentially stronger core earning power driven by net interest income growth: net interest income rose to $50,292 (thousand) and non‑interest income was $10,330, producing operating revenue of $60,622…
10-Q · May 9, 2024
Equity Bancshares reported strong Q1 2024 results with revenues of $83 million, significantly higher than the previous year's $74 million and the prior quarter's $21 million. Earnings per share rose to $0.90, surpassing…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.