Annual Income Statements for Equity Bancshares
This table shows Equity Bancshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Equity Bancshares
This table shows Equity Bancshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
15 |
12 |
12 |
11 |
12 |
-28 |
14 |
12 |
20 |
17 |
Consolidated Net Income / (Loss) |
|
15 |
12 |
12 |
11 |
12 |
-28 |
14 |
12 |
20 |
17 |
Net Income / (Loss) Continuing Operations |
|
15 |
12 |
12 |
11 |
12 |
-28 |
14 |
12 |
20 |
17 |
Total Pre-Tax Income |
|
19 |
15 |
15 |
13 |
14 |
-40 |
18 |
16 |
24 |
20 |
Total Revenue |
|
51 |
50 |
48 |
46 |
50 |
-3.95 |
56 |
55 |
55 |
58 |
Net Interest Income / (Expense) |
|
42 |
42 |
39 |
39 |
41 |
39 |
44 |
46 |
46 |
49 |
Total Interest Income |
|
49 |
53 |
56 |
61 |
65 |
64 |
72 |
75 |
75 |
75 |
Loans and Leases Interest Income |
|
42 |
46 |
48 |
53 |
55 |
55 |
59 |
62 |
62 |
63 |
Investment Securities Interest Income |
|
6.48 |
6.62 |
6.62 |
6.38 |
6.07 |
6.77 |
10 |
11 |
10 |
9.62 |
Federal Funds Sold and Securities Borrowed Interest Income |
|
0.51 |
0.65 |
1.13 |
2.13 |
3.82 |
2.59 |
2.67 |
3.04 |
2.67 |
1.98 |
Total Interest Expense |
|
6.60 |
11 |
17 |
22 |
24 |
25 |
28 |
29 |
29 |
26 |
Deposits Interest Expense |
|
4.40 |
8.01 |
14 |
17 |
19 |
20 |
23 |
23 |
24 |
21 |
Short-Term Borrowings Interest Expense |
|
0.41 |
1.50 |
1.02 |
0.95 |
0.97 |
1.01 |
1.14 |
3.79 |
3.09 |
2.16 |
Long-Term Debt Interest Expense |
|
1.72 |
1.80 |
1.98 |
3.48 |
3.44 |
3.45 |
3.26 |
1.90 |
1.91 |
1.88 |
Federal Funds Purchased and Securities Sold Interest Expense |
|
0.07 |
0.08 |
0.20 |
0.19 |
0.25 |
0.30 |
0.33 |
0.31 |
0.26 |
0.26 |
Total Non-Interest Income |
|
8.97 |
8.33 |
8.60 |
6.95 |
8.74 |
-43 |
12 |
8.96 |
9.32 |
8.82 |
Other Service Charges |
|
2.45 |
-4.10 |
1.80 |
2.00 |
7.94 |
17 |
9.62 |
2.61 |
6.94 |
12 |
Net Realized & Unrealized Capital Gains on Investments |
|
-0.02 |
0.44 |
0.03 |
-1.32 |
-0.00 |
-51 |
1.28 |
-0.03 |
1.04 |
0.06 |
Other Non-Interest Income |
|
6.53 |
12 |
6.77 |
6.28 |
0.79 |
-9.78 |
0.83 |
6.32 |
1.34 |
-3.52 |
Provision for Credit Losses |
|
-0.14 |
-0.15 |
-0.37 |
0.30 |
1.23 |
0.71 |
1.00 |
0.27 |
1.18 |
0.10 |
Total Non-Interest Expense |
|
32 |
35 |
33 |
33 |
34 |
35 |
37 |
39 |
30 |
38 |
Salaries and Employee Benefits |
|
15 |
16 |
17 |
15 |
16 |
17 |
18 |
18 |
18 |
18 |
Net Occupancy & Equipment Expense |
|
7.27 |
7.25 |
6.80 |
7.43 |
7.82 |
7.72 |
8.36 |
8.82 |
8.63 |
8.56 |
Marketing Expense |
|
1.19 |
1.90 |
1.16 |
1.25 |
1.42 |
1.60 |
1.24 |
1.29 |
1.37 |
1.47 |
Property & Liability Insurance Claims |
|
0.34 |
0.36 |
0.36 |
0.52 |
0.66 |
0.66 |
0.57 |
0.59 |
0.66 |
0.66 |
Other Operating Expenses |
|
6.93 |
8.38 |
7.31 |
7.78 |
7.69 |
7.39 |
6.43 |
6.84 |
-0.55 |
7.69 |
Amortization Expense |
|
0.96 |
0.92 |
0.92 |
0.92 |
0.80 |
0.74 |
0.90 |
1.22 |
1.11 |
1.06 |
Income Tax Expense |
|
3.64 |
3.65 |
2.52 |
1.50 |
1.93 |
-11 |
3.69 |
4.58 |
3.99 |
3.40 |
Basic Earnings per Share |
|
$0.94 |
$0.73 |
$0.78 |
$0.74 |
$0.80 |
($1.82) |
$0.91 |
$0.77 |
$1.30 |
$1.06 |
Weighted Average Basic Shares Outstanding |
|
15.94M |
15.80M |
15.48M |
15.41M |
15.41M |
15.44M |
15.25M |
15.26M |
15.29M |
17.51M |
Diluted Earnings per Share |
|
$0.93 |
$0.71 |
$0.77 |
$0.74 |
$0.80 |
($1.81) |
$0.90 |
$0.76 |
$1.28 |
$1.06 |
Weighted Average Diluted Shares Outstanding |
|
15.94M |
15.80M |
15.48M |
15.41M |
15.41M |
15.44M |
15.25M |
15.26M |
15.29M |
17.51M |
Weighted Average Basic & Diluted Shares Outstanding |
|
15.94M |
15.80M |
15.48M |
15.41M |
15.41M |
15.44M |
15.25M |
15.26M |
15.29M |
17.51M |
Annual Cash Flow Statements for Equity Bancshares
This table details how cash moves in and out of Equity Bancshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-156 |
275 |
4.65 |
Net Cash From Operating Activities |
74 |
77 |
74 |
Net Cash From Continuing Operating Activities |
74 |
77 |
74 |
Net Income / (Loss) Continuing Operations |
58 |
7.82 |
63 |
Consolidated Net Income / (Loss) |
58 |
7.82 |
63 |
Provision For Loan Losses |
0.13 |
1.87 |
2.55 |
Depreciation Expense |
4.47 |
4.52 |
5.38 |
Amortization Expense |
7.41 |
7.73 |
0.54 |
Non-Cash Adjustments to Reconcile Net Income |
3.94 |
47 |
-9.06 |
Changes in Operating Assets and Liabilities, net |
0.44 |
7.59 |
12 |
Net Cash From Investing Activities |
-214 |
232 |
124 |
Net Cash From Continuing Investing Activities |
-214 |
232 |
124 |
Purchase of Property, Leasehold Improvements and Equipment |
-3.49 |
-16 |
-8.49 |
Acquisitions |
-41 |
0.00 |
0.00 |
Purchase of Investment Securities |
-376 |
-544 |
-175 |
Sale of Property, Leasehold Improvements and Equipment |
0.16 |
0.16 |
0.71 |
Sale and/or Maturity of Investments |
208 |
794 |
356 |
Other Investing Activities, net |
-2.29 |
-1.24 |
-49 |
Net Cash From Financing Activities |
-15 |
-34 |
-193 |
Net Cash From Continuing Financing Activities |
-15 |
-34 |
-193 |
Net Change in Deposits |
-106 |
-96 |
-163 |
Issuance of Debt |
415 |
1,507 |
1,201 |
Issuance of Common Equity |
0.00 |
0.00 |
87 |
Repayment of Debt |
-276 |
-1,406 |
-1,271 |
Repurchase of Common Equity |
-33 |
-18 |
-12 |
Payment of Dividends |
-5.56 |
-6.61 |
-7.89 |
Other Financing Activities, Net |
-9.20 |
-14 |
-27 |
Cash Interest Paid |
26 |
81 |
116 |
Cash Income Taxes Paid |
1.22 |
3.47 |
6.20 |
Quarterly Cash Flow Statements for Equity Bancshares
This table details how cash moves in and out of Equity Bancshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
52 |
-51 |
146 |
28 |
-79 |
180 |
-144 |
25 |
-25 |
148 |
Net Cash From Operating Activities |
|
15 |
16 |
19 |
19 |
25 |
13 |
13 |
16 |
23 |
22 |
Net Cash From Continuing Operating Activities |
|
15 |
16 |
19 |
19 |
25 |
13 |
13 |
16 |
23 |
22 |
Net Income / (Loss) Continuing Operations |
|
15 |
12 |
12 |
11 |
12 |
-28 |
14 |
12 |
20 |
17 |
Consolidated Net Income / (Loss) |
|
15 |
12 |
12 |
11 |
12 |
-28 |
14 |
12 |
20 |
17 |
Provision For Loan Losses |
|
-0.14 |
-0.15 |
-0.37 |
0.30 |
1.23 |
0.71 |
1.00 |
0.27 |
1.18 |
0.10 |
Depreciation Expense |
|
1.08 |
1.08 |
1.09 |
1.11 |
1.14 |
1.18 |
1.33 |
1.31 |
1.35 |
1.39 |
Amortization Expense |
|
1.30 |
1.89 |
2.18 |
2.43 |
1.49 |
1.64 |
-0.20 |
0.00 |
0.47 |
0.27 |
Non-Cash Adjustments to Reconcile Net Income |
|
0.29 |
2.86 |
-1.34 |
-0.36 |
1.90 |
47 |
-0.04 |
-1.53 |
-11 |
3.18 |
Changes in Operating Assets and Liabilities, net |
|
-3.14 |
-0.91 |
5.26 |
4.40 |
7.00 |
-9.06 |
-3.52 |
4.27 |
11 |
-0.23 |
Net Cash From Investing Activities |
|
6.50 |
-48 |
-18 |
87 |
51 |
112 |
5.29 |
24 |
-61 |
156 |
Net Cash From Continuing Investing Activities |
|
6.50 |
-48 |
-18 |
87 |
51 |
112 |
-117 |
24 |
-31 |
248 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-0.48 |
-2.29 |
-4.41 |
-2.50 |
-5.79 |
-3.44 |
-2.01 |
-0.85 |
-3.79 |
-1.85 |
Purchase of Investment Securities |
|
-49 |
-60 |
-33 |
18 |
37 |
-566 |
-219 |
-30 |
-111 |
184 |
Sale of Property, Leasehold Improvements and Equipment |
|
0.06 |
0.03 |
0.04 |
- |
0.00 |
0.12 |
0.01 |
2.28 |
0.05 |
-1.63 |
Sale and/or Maturity of Investments |
|
55 |
33 |
20 |
73 |
21 |
680 |
108 |
54 |
77 |
116 |
Net Cash From Financing Activities |
|
31 |
-20 |
145 |
-79 |
-156 |
56 |
-162 |
-14 |
12 |
-29 |
Net Cash From Continuing Financing Activities |
|
31 |
-20 |
145 |
-79 |
-156 |
56 |
-162 |
-14 |
12 |
-29 |
Net Change in Deposits |
|
-65 |
34 |
45 |
-56 |
-149 |
63 |
-124 |
-30 |
-21 |
12 |
Issuance of Debt |
|
- |
10 |
607 |
300 |
300 |
300 |
300 |
300 |
301 |
300 |
Repayment of Debt |
|
106 |
-58 |
-495 |
-311 |
-300 |
-300 |
-320 |
-270 |
-263 |
-418 |
Payment of Dividends |
|
-1.29 |
-1.60 |
-1.64 |
-1.58 |
-1.54 |
-1.85 |
-1.92 |
-1.80 |
-1.88 |
-2.30 |
Other Financing Activities, Net |
|
-4.68 |
0.12 |
-1.17 |
-2.09 |
-5.32 |
-5.64 |
-9.01 |
-8.24 |
-2.64 |
-7.55 |
Cash Interest Paid |
|
7.18 |
11 |
13 |
20 |
20 |
28 |
31 |
29 |
27 |
29 |
Cash Income Taxes Paid |
|
0.47 |
0.55 |
0.03 |
3.03 |
0.35 |
0.06 |
0.00 |
3.24 |
1.26 |
1.70 |
Annual Balance Sheets for Equity Bancshares
This table presents Equity Bancshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
4,982 |
5,035 |
5,332 |
Cash and Due from Banks |
104 |
363 |
384 |
Federal Funds Sold |
0.42 |
16 |
0.24 |
Trading Account Securities |
1,184 |
920 |
1,004 |
Loans and Leases, Net of Allowance |
3,266 |
3,289 |
3,458 |
Loans Held for Sale |
0.35 |
0.48 |
0.51 |
Premises and Equipment, Net |
101 |
113 |
117 |
Goodwill |
53 |
53 |
53 |
Intangible Assets |
11 |
7.22 |
15 |
Other Assets |
260 |
271 |
295 |
Total Liabilities & Shareholders' Equity |
4,982 |
5,035 |
5,332 |
Total Liabilities |
4,572 |
4,582 |
4,739 |
Interest Bearing Deposits |
4,242 |
4,145 |
4,375 |
Federal Funds Purchased and Securities Sold |
46 |
44 |
37 |
Long-Term Debt |
235 |
337 |
276 |
Other Long-Term Liabilities |
48 |
56 |
52 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
410 |
453 |
593 |
Total Preferred & Common Equity |
410 |
453 |
593 |
Total Common Equity |
410 |
453 |
593 |
Common Stock |
485 |
489 |
585 |
Retained Earnings |
140 |
141 |
195 |
Treasury Stock |
-102 |
-120 |
-131 |
Accumulated Other Comprehensive Income / (Loss) |
-114 |
-58 |
-55 |
Quarterly Balance Sheets for Equity Bancshares
This table presents Equity Bancshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
5,000 |
5,157 |
5,095 |
4,945 |
5,239 |
5,246 |
5,355 |
Cash and Due from Banks |
|
155 |
250 |
263 |
183 |
218 |
244 |
218 |
Federal Funds Sold |
|
0.37 |
0.38 |
15 |
16 |
17 |
16 |
18 |
Trading Account Securities |
|
1,199 |
1,185 |
1,095 |
1,057 |
1,092 |
1,042 |
1,041 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
3,278 |
3,238 |
3,438 |
3,411 |
3,557 |
Loans Held for Sale |
|
1.52 |
0.65 |
2.46 |
0.63 |
1.31 |
1.96 |
0.90 |
Premises and Equipment, Net |
|
101 |
105 |
106 |
110 |
117 |
114 |
117 |
Goodwill |
|
53 |
53 |
53 |
53 |
53 |
53 |
53 |
Intangible Assets |
|
12 |
9.68 |
8.76 |
7.96 |
18 |
17 |
16 |
Other Assets |
|
271 |
3,553 |
271 |
277 |
283 |
341 |
329 |
Total Liabilities & Shareholders' Equity |
|
5,000 |
5,157 |
5,095 |
4,945 |
5,239 |
5,246 |
5,355 |
Total Liabilities |
|
4,605 |
4,732 |
4,676 |
4,527 |
4,782 |
4,784 |
4,851 |
Interest Bearing Deposits |
|
4,227 |
4,287 |
4,231 |
4,082 |
4,371 |
4,341 |
4,363 |
Federal Funds Purchased and Securities Sold |
|
47 |
45 |
45 |
40 |
44 |
38 |
38 |
Long-Term Debt |
|
282 |
348 |
337 |
337 |
317 |
348 |
393 |
Other Long-Term Liabilities |
|
48 |
52 |
64 |
68 |
50 |
57 |
57 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
396 |
425 |
418 |
418 |
457 |
461 |
504 |
Total Preferred & Common Equity |
|
396 |
425 |
418 |
418 |
457 |
461 |
504 |
Total Common Equity |
|
396 |
425 |
418 |
418 |
457 |
461 |
504 |
Common Stock |
|
483 |
487 |
487 |
488 |
491 |
492 |
495 |
Retained Earnings |
|
130 |
151 |
161 |
171 |
153 |
163 |
181 |
Treasury Stock |
|
-96 |
-111 |
-119 |
-119 |
-126 |
-132 |
-132 |
Accumulated Other Comprehensive Income / (Loss) |
|
-121 |
-101 |
-110 |
-122 |
-61 |
-62 |
-40 |
Annual Metrics And Ratios for Equity Bancshares
This table displays calculated financial ratios and metrics derived from Equity Bancshares' official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
13.32% |
-29.63% |
60.83% |
EBITDA Growth |
-18.78% |
-82.15% |
474.21% |
EBIT Growth |
9.07% |
-96.56% |
3,141.45% |
NOPAT Growth |
9.92% |
-86.44% |
700.68% |
Net Income Growth |
9.92% |
-86.44% |
700.68% |
EPS Growth |
2.33% |
-85.76% |
700.00% |
Operating Cash Flow Growth |
-27.87% |
3.31% |
-3.50% |
Free Cash Flow Firm Growth |
123.06% |
-1,637.08% |
88.24% |
Invested Capital Growth |
8.18% |
22.39% |
9.96% |
Revenue Q/Q Growth |
2.03% |
-27.97% |
38.24% |
EBITDA Q/Q Growth |
1.64% |
-78.97% |
232.56% |
EBIT Q/Q Growth |
7.35% |
-95.79% |
329.17% |
NOPAT Q/Q Growth |
2.02% |
-83.61% |
261.22% |
Net Income Q/Q Growth |
2.02% |
-83.61% |
261.22% |
EPS Q/Q Growth |
3.85% |
-83.44% |
253.98% |
Operating Cash Flow Q/Q Growth |
-8.28% |
-4.26% |
13.40% |
Free Cash Flow Firm Q/Q Growth |
107.68% |
-369.27% |
87.16% |
Invested Capital Q/Q Growth |
-4.83% |
4.62% |
-3.22% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
41.33% |
10.48% |
37.43% |
EBIT Margin |
35.36% |
1.73% |
34.79% |
Profit (Net Income) Margin |
29.02% |
5.59% |
27.83% |
Tax Burden Percent |
82.08% |
323.85% |
80.00% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
17.92% |
-223.85% |
20.00% |
Return on Invested Capital (ROIC) |
9.29% |
1.09% |
7.55% |
ROIC Less NNEP Spread (ROIC-NNEP) |
9.29% |
1.09% |
7.55% |
Return on Net Nonoperating Assets (RNNOA) |
3.38% |
0.72% |
4.42% |
Return on Equity (ROE) |
12.67% |
1.81% |
11.98% |
Cash Return on Invested Capital (CROIC) |
1.43% |
-19.04% |
-1.94% |
Operating Return on Assets (OROA) |
1.39% |
0.05% |
1.51% |
Return on Assets (ROA) |
1.14% |
0.16% |
1.21% |
Return on Common Equity (ROCE) |
12.67% |
1.81% |
11.98% |
Return on Equity Simple (ROE_SIMPLE) |
14.07% |
1.73% |
10.56% |
Net Operating Profit after Tax (NOPAT) |
58 |
7.82 |
63 |
NOPAT Margin |
29.02% |
5.59% |
27.83% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
47.87% |
71.18% |
50.02% |
Operating Expenses to Revenue |
64.58% |
96.93% |
64.07% |
Earnings before Interest and Taxes (EBIT) |
70 |
2.42 |
78 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
82 |
15 |
84 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.23 |
1.14 |
1.09 |
Price to Tangible Book Value (P/TBV) |
1.46 |
1.31 |
1.24 |
Price to Revenue (P/Rev) |
2.54 |
3.68 |
2.88 |
Price to Earnings (P/E) |
8.75 |
65.85 |
10.36 |
Dividend Yield |
1.14% |
1.32% |
1.27% |
Earnings Yield |
11.43% |
1.52% |
9.66% |
Enterprise Value to Invested Capital (EV/IC) |
0.98 |
0.60 |
0.62 |
Enterprise Value to Revenue (EV/Rev) |
3.20 |
3.38 |
2.40 |
Enterprise Value to EBITDA (EV/EBITDA) |
7.73 |
32.25 |
6.42 |
Enterprise Value to EBIT (EV/EBIT) |
9.04 |
195.80 |
6.90 |
Enterprise Value to NOPAT (EV/NOPAT) |
11.02 |
60.46 |
8.63 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
8.58 |
6.18 |
7.32 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
71.48 |
0.00 |
0.00 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.57 |
0.74 |
0.46 |
Long-Term Debt to Equity |
0.57 |
0.74 |
0.46 |
Financial Leverage |
0.36 |
0.66 |
0.59 |
Leverage Ratio |
11.11 |
11.61 |
9.91 |
Compound Leverage Factor |
11.11 |
11.61 |
9.91 |
Debt to Total Capital |
36.46% |
42.66% |
31.73% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
36.46% |
42.66% |
31.73% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
63.54% |
57.34% |
68.27% |
Debt to EBITDA |
2.86 |
22.98 |
3.27 |
Net Debt to EBITDA |
1.59 |
-2.88 |
-1.29 |
Long-Term Debt to EBITDA |
2.86 |
22.98 |
3.27 |
Debt to NOPAT |
4.08 |
43.08 |
4.40 |
Net Debt to NOPAT |
2.27 |
-5.39 |
-1.73 |
Long-Term Debt to NOPAT |
4.08 |
43.08 |
4.40 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
8.89 |
-137 |
-16 |
Operating Cash Flow to CapEx |
2,226.42% |
479.07% |
948.31% |
Free Cash Flow to Firm to Interest Expense |
0.35 |
-1.56 |
-0.15 |
Operating Cash Flow to Interest Expense |
2.91 |
0.87 |
0.67 |
Operating Cash Flow Less CapEx to Interest Expense |
2.78 |
0.69 |
0.60 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.04 |
0.03 |
0.04 |
Fixed Asset Turnover |
1.93 |
1.31 |
1.96 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
645 |
790 |
868 |
Invested Capital Turnover |
0.32 |
0.20 |
0.27 |
Increase / (Decrease) in Invested Capital |
49 |
144 |
79 |
Enterprise Value (EV) |
635 |
473 |
540 |
Market Capitalization |
505 |
515 |
649 |
Book Value per Share |
$25.73 |
$29.38 |
$38.78 |
Tangible Book Value per Share |
$21.73 |
$25.47 |
$34.33 |
Total Capital |
645 |
790 |
868 |
Total Debt |
235 |
337 |
276 |
Total Long-Term Debt |
235 |
337 |
276 |
Net Debt |
131 |
-42 |
-108 |
Capital Expenditures (CapEx) |
3.33 |
16 |
7.79 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
235 |
337 |
276 |
Total Depreciation and Amortization (D&A) |
12 |
12 |
5.92 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$3.56 |
$0.50 |
$4.04 |
Adjusted Weighted Average Basic Shares Outstanding |
15.80M |
15.44M |
17.51M |
Adjusted Diluted Earnings per Share |
$3.51 |
$0.50 |
$4.00 |
Adjusted Weighted Average Diluted Shares Outstanding |
15.80M |
15.44M |
17.51M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
15.80M |
15.44M |
17.51M |
Normalized Net Operating Profit after Tax (NOPAT) |
58 |
1.90 |
66 |
Normalized NOPAT Margin |
29.27% |
1.36% |
29.42% |
Pre Tax Income Margin |
35.36% |
1.73% |
34.79% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
2.77 |
0.03 |
0.71 |
NOPAT to Interest Expense |
2.27 |
0.09 |
0.57 |
EBIT Less CapEx to Interest Expense |
2.63 |
-0.15 |
0.64 |
NOPAT Less CapEx to Interest Expense |
2.14 |
-0.09 |
0.50 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
9.65% |
84.57% |
12.60% |
Augmented Payout Ratio |
67.17% |
313.44% |
31.54% |
Quarterly Metrics And Ratios for Equity Bancshares
This table displays calculated financial ratios and metrics derived from Equity Bancshares' official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
8.77% |
8.50% |
-1.24% |
-5.74% |
-2.29% |
-107.84% |
17.19% |
19.52% |
11.26% |
1,576.79% |
EBITDA Growth |
|
-22.10% |
7.86% |
-18.57% |
-19.58% |
-20.24% |
-302.10% |
4.31% |
6.81% |
51.77% |
159.85% |
EBIT Growth |
|
24.93% |
46.05% |
-22.93% |
-23.56% |
-24.13% |
-359.83% |
19.63% |
25.84% |
67.01% |
151.40% |
NOPAT Growth |
|
28.86% |
10.91% |
-21.26% |
-24.92% |
-18.65% |
-339.14% |
14.16% |
1.89% |
60.85% |
161.19% |
Net Income Growth |
|
28.86% |
10.91% |
-21.26% |
-24.92% |
-18.65% |
-343.79% |
14.16% |
2.27% |
60.85% |
160.02% |
EPS Growth |
|
16.25% |
22.41% |
-17.20% |
-21.28% |
-13.98% |
-354.93% |
16.88% |
2.70% |
60.00% |
158.56% |
Operating Cash Flow Growth |
|
-55.06% |
-28.99% |
145.16% |
-45.30% |
72.36% |
-20.79% |
-33.94% |
-17.06% |
-6.45% |
67.27% |
Free Cash Flow Firm Growth |
|
-196.06% |
53.84% |
-87.13% |
-76.70% |
58.94% |
-363.10% |
108.10% |
69.74% |
-90.06% |
64.17% |
Invested Capital Growth |
|
34.06% |
8.18% |
29.24% |
24.96% |
11.33% |
22.39% |
0.12% |
7.13% |
18.87% |
9.96% |
Revenue Q/Q Growth |
|
3.48% |
-1.09% |
-5.26% |
-2.79% |
7.26% |
-107.93% |
1,516.59% |
-0.86% |
-0.16% |
5.31% |
EBITDA Q/Q Growth |
|
3.39% |
-14.00% |
-0.64% |
-8.97% |
2.55% |
-317.90% |
151.28% |
-6.79% |
45.71% |
-14.07% |
EBIT Q/Q Growth |
|
11.04% |
-18.88% |
-2.72% |
-12.77% |
10.21% |
-377.84% |
144.79% |
-8.24% |
46.26% |
-14.48% |
NOPAT Q/Q Growth |
|
-0.58% |
-23.49% |
6.16% |
-7.04% |
7.73% |
-324.93% |
150.68% |
-17.03% |
70.06% |
-14.43% |
Net Income Q/Q Growth |
|
-0.58% |
-23.49% |
6.16% |
-7.04% |
7.73% |
-329.31% |
149.71% |
-16.72% |
69.44% |
-14.43% |
EPS Q/Q Growth |
|
-1.06% |
-23.66% |
8.45% |
-3.90% |
8.11% |
-326.25% |
149.72% |
-15.56% |
68.42% |
-17.19% |
Operating Cash Flow Q/Q Growth |
|
-58.79% |
12.48% |
16.82% |
1.02% |
29.85% |
-48.31% |
-2.57% |
26.83% |
46.46% |
-7.58% |
Free Cash Flow Firm Q/Q Growth |
|
-99.19% |
76.33% |
-337.00% |
14.24% |
53.72% |
-166.99% |
107.65% |
-420.24% |
-190.69% |
49.67% |
Invested Capital Q/Q Growth |
|
12.22% |
-4.83% |
19.77% |
-2.30% |
-0.02% |
4.62% |
-2.03% |
4.55% |
10.93% |
-3.22% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
41.63% |
36.19% |
37.96% |
35.54% |
33.98% |
0.00% |
33.79% |
31.76% |
46.35% |
37.82% |
EBIT Margin |
|
36.95% |
30.31% |
31.12% |
27.92% |
28.69% |
0.00% |
31.77% |
29.40% |
43.07% |
34.97% |
Profit (Net Income) Margin |
|
29.80% |
23.05% |
25.83% |
24.70% |
24.81% |
0.00% |
25.16% |
21.14% |
35.87% |
29.14% |
Tax Burden Percent |
|
80.64% |
76.06% |
83.00% |
88.46% |
86.46% |
71.36% |
79.21% |
71.89% |
83.28% |
83.33% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
19.36% |
23.94% |
17.00% |
11.54% |
13.54% |
0.00% |
20.79% |
28.11% |
16.72% |
16.67% |
Return on Invested Capital (ROIC) |
|
9.81% |
7.38% |
7.47% |
7.10% |
6.72% |
0.00% |
4.82% |
4.23% |
7.07% |
7.91% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
9.81% |
7.38% |
7.47% |
7.10% |
6.72% |
0.00% |
4.82% |
4.24% |
7.07% |
7.91% |
Return on Net Nonoperating Assets (RNNOA) |
|
4.46% |
2.68% |
4.20% |
4.30% |
5.11% |
0.00% |
3.63% |
3.30% |
5.59% |
4.63% |
Return on Equity (ROE) |
|
14.27% |
10.06% |
11.67% |
11.40% |
11.84% |
0.00% |
8.45% |
7.53% |
12.66% |
12.54% |
Cash Return on Invested Capital (CROIC) |
|
-19.55% |
1.43% |
-17.58% |
-14.75% |
-4.06% |
-19.04% |
1.12% |
-5.63% |
-15.14% |
-1.94% |
Operating Return on Assets (OROA) |
|
1.55% |
1.19% |
1.21% |
1.08% |
1.12% |
0.00% |
0.91% |
0.89% |
1.36% |
1.52% |
Return on Assets (ROA) |
|
1.25% |
0.91% |
1.00% |
0.96% |
0.97% |
0.00% |
0.72% |
0.64% |
1.13% |
1.26% |
Return on Common Equity (ROCE) |
|
14.27% |
10.06% |
11.67% |
11.40% |
11.84% |
0.00% |
8.45% |
7.53% |
12.66% |
12.54% |
Return on Equity Simple (ROE_SIMPLE) |
|
14.29% |
0.00% |
12.79% |
12.08% |
11.41% |
0.00% |
2.09% |
2.13% |
3.44% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
15 |
12 |
12 |
11 |
12 |
-28 |
14 |
12 |
20 |
17 |
NOPAT Margin |
|
29.80% |
23.05% |
25.83% |
24.70% |
24.81% |
0.00% |
25.16% |
21.06% |
35.87% |
29.14% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.19% |
0.00% |
-0.01% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
46.94% |
50.18% |
51.66% |
51.57% |
50.44% |
0.00% |
49.54% |
50.40% |
51.48% |
48.72% |
Operating Expenses to Revenue |
|
63.32% |
69.99% |
69.65% |
71.43% |
68.84% |
0.00% |
66.45% |
70.12% |
54.80% |
64.86% |
Earnings before Interest and Taxes (EBIT) |
|
19 |
15 |
15 |
13 |
14 |
-40 |
18 |
16 |
24 |
20 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
21 |
18 |
18 |
16 |
17 |
-37 |
19 |
18 |
26 |
22 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
1.17 |
1.23 |
0.89 |
0.83 |
0.87 |
1.14 |
1.16 |
1.16 |
1.24 |
1.09 |
Price to Tangible Book Value (P/TBV) |
|
1.40 |
1.46 |
1.04 |
0.97 |
1.02 |
1.31 |
1.37 |
1.37 |
1.43 |
1.24 |
Price to Revenue (P/Rev) |
|
2.38 |
2.54 |
1.90 |
1.78 |
1.88 |
3.68 |
3.57 |
3.42 |
3.83 |
2.88 |
Price to Earnings (P/E) |
|
8.21 |
8.75 |
6.94 |
6.87 |
7.66 |
65.85 |
55.27 |
54.64 |
35.99 |
10.36 |
Dividend Yield |
|
1.18% |
1.14% |
1.59% |
1.78% |
1.77% |
1.32% |
1.34% |
1.36% |
1.25% |
1.27% |
Earnings Yield |
|
12.19% |
11.43% |
14.40% |
14.56% |
13.05% |
1.52% |
1.81% |
1.83% |
2.78% |
9.66% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.87 |
0.98 |
0.61 |
0.54 |
0.67 |
0.60 |
0.79 |
0.77 |
0.87 |
0.62 |
Enterprise Value to Revenue (EV/Rev) |
|
3.03 |
3.20 |
2.40 |
2.08 |
2.59 |
3.38 |
4.12 |
3.97 |
4.80 |
2.40 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
7.31 |
7.73 |
6.08 |
5.48 |
7.22 |
32.25 |
39.54 |
37.67 |
30.88 |
6.42 |
Enterprise Value to EBIT (EV/EBIT) |
|
9.03 |
9.04 |
7.21 |
6.56 |
8.78 |
195.80 |
114.60 |
71.94 |
42.86 |
6.90 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
10.45 |
11.02 |
8.73 |
8.03 |
10.55 |
60.46 |
63.84 |
63.52 |
45.10 |
8.63 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
7.32 |
8.58 |
5.56 |
5.85 |
6.30 |
6.18 |
8.72 |
9.35 |
12.01 |
7.32 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
71.48 |
0.00 |
0.00 |
0.00 |
0.00 |
70.45 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.71 |
0.57 |
0.82 |
0.80 |
0.81 |
0.74 |
0.69 |
0.75 |
0.78 |
0.46 |
Long-Term Debt to Equity |
|
0.71 |
0.57 |
0.82 |
0.80 |
0.81 |
0.74 |
0.69 |
0.75 |
0.78 |
0.46 |
Financial Leverage |
|
0.46 |
0.36 |
0.56 |
0.61 |
0.76 |
0.66 |
0.75 |
0.78 |
0.79 |
0.59 |
Leverage Ratio |
|
11.39 |
11.11 |
11.67 |
11.93 |
12.22 |
11.61 |
11.79 |
11.75 |
11.17 |
9.91 |
Compound Leverage Factor |
|
11.39 |
11.11 |
11.67 |
11.93 |
12.22 |
11.61 |
11.79 |
11.75 |
11.17 |
9.91 |
Debt to Total Capital |
|
41.63% |
36.46% |
44.99% |
44.58% |
44.61% |
42.66% |
40.97% |
42.96% |
43.83% |
31.73% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
41.63% |
36.46% |
44.99% |
44.58% |
44.61% |
42.66% |
40.97% |
42.96% |
43.83% |
31.73% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
58.37% |
63.54% |
55.01% |
55.42% |
55.39% |
57.34% |
59.03% |
57.04% |
56.17% |
68.27% |
Debt to EBITDA |
|
3.49 |
2.86 |
4.46 |
4.55 |
4.83 |
22.98 |
20.52 |
20.97 |
15.54 |
3.27 |
Net Debt to EBITDA |
|
1.57 |
1.59 |
1.25 |
0.79 |
1.98 |
-2.88 |
5.31 |
5.27 |
6.23 |
-1.29 |
Long-Term Debt to EBITDA |
|
3.49 |
2.86 |
4.46 |
4.55 |
4.83 |
22.98 |
20.52 |
20.97 |
15.54 |
3.27 |
Debt to NOPAT |
|
4.99 |
4.08 |
6.40 |
6.66 |
7.06 |
43.08 |
33.14 |
35.37 |
22.69 |
4.40 |
Net Debt to NOPAT |
|
2.24 |
2.27 |
1.79 |
1.16 |
2.89 |
-5.39 |
8.57 |
8.88 |
9.11 |
-1.73 |
Long-Term Debt to NOPAT |
|
4.99 |
4.08 |
6.40 |
6.66 |
7.06 |
43.08 |
33.14 |
35.37 |
22.69 |
4.40 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-157 |
-37 |
-163 |
-139 |
-65 |
-172 |
13 |
-42 |
-123 |
-62 |
Operating Cash Flow to CapEx |
|
3,500.00% |
722.41% |
437.90% |
772.15% |
433.44% |
391.67% |
630.37% |
0.00% |
628.09% |
624.22% |
Free Cash Flow to Firm to Interest Expense |
|
-23.79 |
-3.26 |
-9.55 |
-6.39 |
-2.68 |
-6.94 |
0.48 |
-1.47 |
-4.24 |
-2.42 |
Operating Cash Flow to Interest Expense |
|
2.20 |
1.44 |
1.12 |
0.89 |
1.04 |
0.52 |
0.46 |
0.56 |
0.81 |
0.85 |
Operating Cash Flow Less CapEx to Interest Expense |
|
2.14 |
1.24 |
0.87 |
0.77 |
0.80 |
0.39 |
0.39 |
0.61 |
0.68 |
0.71 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.04 |
0.04 |
0.04 |
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
0.04 |
Fixed Asset Turnover |
|
2.04 |
1.93 |
1.91 |
1.88 |
1.84 |
1.31 |
1.34 |
1.43 |
1.43 |
1.96 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
678 |
645 |
773 |
755 |
755 |
790 |
774 |
809 |
897 |
868 |
Invested Capital Turnover |
|
0.33 |
0.32 |
0.29 |
0.29 |
0.27 |
0.20 |
0.19 |
0.20 |
0.20 |
0.27 |
Increase / (Decrease) in Invested Capital |
|
172 |
49 |
175 |
151 |
77 |
144 |
0.90 |
54 |
142 |
79 |
Enterprise Value (EV) |
|
591 |
635 |
475 |
406 |
503 |
473 |
611 |
624 |
782 |
540 |
Market Capitalization |
|
464 |
505 |
377 |
347 |
366 |
515 |
529 |
537 |
624 |
649 |
Book Value per Share |
|
$24.60 |
$25.73 |
$26.91 |
$27.03 |
$27.13 |
$29.38 |
$29.59 |
$30.25 |
$33.02 |
$38.78 |
Tangible Book Value per Share |
|
$20.58 |
$21.73 |
$22.94 |
$23.03 |
$23.17 |
$25.47 |
$24.99 |
$25.68 |
$28.49 |
$34.33 |
Total Capital |
|
678 |
645 |
773 |
755 |
755 |
790 |
774 |
809 |
897 |
868 |
Total Debt |
|
282 |
235 |
348 |
337 |
337 |
337 |
317 |
348 |
393 |
276 |
Total Long-Term Debt |
|
282 |
235 |
348 |
337 |
337 |
337 |
317 |
348 |
393 |
276 |
Net Debt |
|
127 |
131 |
97 |
59 |
138 |
-42 |
82 |
87 |
158 |
-108 |
Capital Expenditures (CapEx) |
|
0.42 |
2.27 |
4.37 |
2.50 |
5.79 |
3.31 |
2.01 |
-1.43 |
3.74 |
3.48 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.54 |
0.00 |
-0.04 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
282 |
235 |
348 |
337 |
337 |
337 |
317 |
348 |
393 |
276 |
Total Depreciation and Amortization (D&A) |
|
2.38 |
2.97 |
3.26 |
3.53 |
2.63 |
2.82 |
1.13 |
1.31 |
1.82 |
1.66 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.94 |
$0.73 |
$0.78 |
$0.74 |
$0.80 |
($1.82) |
$0.91 |
$0.77 |
$1.30 |
$1.06 |
Adjusted Weighted Average Basic Shares Outstanding |
|
15.94M |
15.80M |
15.48M |
15.41M |
15.41M |
15.44M |
15.25M |
15.26M |
15.29M |
17.51M |
Adjusted Diluted Earnings per Share |
|
$0.93 |
$0.71 |
$0.77 |
$0.74 |
$0.80 |
($1.81) |
$0.90 |
$0.76 |
$1.28 |
$1.06 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
15.94M |
15.80M |
15.48M |
15.41M |
15.41M |
15.44M |
15.25M |
15.26M |
15.29M |
17.51M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
15.94M |
15.80M |
15.48M |
15.41M |
15.41M |
15.44M |
15.25M |
15.26M |
15.29M |
17.51M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
15 |
12 |
12 |
11 |
12 |
-28 |
15 |
13 |
20 |
17 |
Normalized NOPAT Margin |
|
29.98% |
23.15% |
25.83% |
24.70% |
24.81% |
0.00% |
27.36% |
24.02% |
36.80% |
29.14% |
Pre Tax Income Margin |
|
36.95% |
30.31% |
31.12% |
27.92% |
28.69% |
0.00% |
31.77% |
29.40% |
43.07% |
34.97% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.85 |
1.34 |
0.87 |
0.59 |
0.59 |
-1.60 |
0.64 |
0.57 |
0.82 |
0.80 |
NOPAT to Interest Expense |
|
2.30 |
1.02 |
0.72 |
0.52 |
0.51 |
-1.12 |
0.51 |
0.41 |
0.69 |
0.67 |
EBIT Less CapEx to Interest Expense |
|
2.79 |
1.14 |
0.62 |
0.48 |
0.35 |
-1.73 |
0.57 |
0.62 |
0.69 |
0.66 |
NOPAT Less CapEx to Interest Expense |
|
2.23 |
0.82 |
0.47 |
0.41 |
0.27 |
-1.25 |
0.44 |
0.46 |
0.56 |
0.53 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
9.04% |
9.65% |
10.77% |
12.09% |
13.34% |
84.57% |
72.09% |
72.44% |
42.97% |
12.60% |
Augmented Payout Ratio |
|
67.06% |
67.17% |
66.69% |
66.18% |
61.72% |
313.44% |
229.57% |
194.48% |
112.90% |
31.54% |
Key Financial Trends
Equity Bancshares (NASDAQ:EQBK) has demonstrated a generally positive financial performance over the last four years, based on an analysis of quarterly income statements, cash flow statements, and balance sheets.
Key Positive Trends:
- Increasing net interest income in recent quarters, reaching $49.5 million in Q4 2024 compared to $42.0 million in Q4 2022, signaling strong core banking earnings growth.
- Consistent growth in net income, with Q4 2024 reporting $17.0 million versus a net loss of -$28.3 million in Q4 2023, indicating recovery and operational strength.
- Net interest income margin improvement as total interest expense has been relatively well-managed despite increasing interest rates, with expense rising from $11.4 million in Q4 2022 to $25.5 million in Q4 2024 but offset by rising interest income.
- Strong operating cash flows, which increased to approximately $21.7 million in Q4 2024 and $23.4 million in Q3 2024, demonstrating robust cash generation from core operations.
- Solid asset base growth; total assets increased from roughly $4.95 billion in Q3 2023 to about $5.35 billion in Q3 2024, showing expansion in the company’s lending and securities portfolio.
- Equity growth evident with total common equity rising from $418 million in Q3 2023 to $504 million in Q3 2024, enhancing the firm’s capital position and solvency.
- Regular dividend payments with an increasing dividend per share from $0.10 in early 2023 to $0.15 in Q3 2024, indicating confidence in sustained profitability and willingness to return capital to shareholders.
Neutral Factors:
- Provision for credit losses has fluctuated but remains low in recent quarters ($98K in Q4 2024), suggesting stable asset quality but requiring continued monitoring amid macroeconomic uncertainty.
- Non-interest income volatility is observed, including large unrealized capital losses in Q4 2023 (-$50.6 million), affecting quarterly profitability; however, recovery in subsequent quarters tempers concerns.
- Despite growth, some quarters show negative or volatile gains from investments and non-interest income sources, reflecting exposure to market fluctuations.
Key Negative Trends:
- Significant net loss in Q4 2023 (-$28.3 million) driven by large unrealized capital losses and negative other non-interest income, highlighting risks related to investment portfolio volatility.
- Elevated restructuring and special charges in several quarters, including a peak of approximately $2.3 million in Q2 2024, increasing non-interest expenses and weighing on profitability.
- Substantial fluctuations in debt issuance and repayment activity, with large debt repayments particularly in Q1 2024 ($320 million), which may impact liquidity and interest expense profiles.
- Increased cash interest paid quarter-over-quarter, reaching $29.5 million in Q4 2024, impacting net cash flow from operations.
Overall, Equity Bancshares has shown solid improvement in net income and operating cash flow throughout 2024 after facing a challenging Q4 2023 due to unrealized investment losses. The bank’s asset and equity growth, coupled with steady dividends, are positives, though investors should watch for external market risks impacting non-interest income and potential ongoing restructuring costs.
09/17/25 07:27 PM ETAI Generated. May Contain Errors.