Equity Bancshares, Inc. has reported its first quarter results for 2025, with net income of $15.0 million or $0.85 earnings per diluted share. The company also announced a tangible common equity ratio of 10.1%. Notable metrics include a net interest margin of 4.27%, annualized loan growth of 15.2%, and a loan-to-deposit ratio closing the period at 82.4%.
The company's net interest income was $50.3 million for the period, compared to $49.5 million for the previous quarter. Adjusting for non-recurring items, net interest income was $48.0 million for each quarter. The provision for credit losses was $2.7 million, a significant increase compared to $98 thousand in the previous quarter.
Total assets increased to $5.4 billion, up $114.1 million from the previous quarter, while total deposits were $4.4 billion at the end of the period, increasing $30.6 million from the previous quarter end.
Nonperforming assets decreased to $27.9 million, or 0.5% of total assets, compared to $34.7 million as of the end of the previous quarter. The company's capital also increased to $617.3 million, with a tangible book value per share of $31.07, up from $30.07 in the previous quarter.
The company also announced a $0.15 dividend on outstanding common shares as of March 31, 2025, and a merger with NBC Corp. of Oklahoma, which is expected to yield new markets in Oklahoma City, Altus, Alva, Kingfisher, and Enid.
Equity Bancshares, Inc. will hold a conference call and webcast to discuss the first quarter results on April 16, 2025, at 10 a.m. Eastern Time or 9 a.m. Central Time. The market has reacted to these announcements by moving the company's shares 1.2% to a price of $35.96. For more information, read the company's full 8-K submission here.
