Equity Bancshares Inc. ( (EQBK) ) has released its Q4 earnings. Here is a breakdown of the information Equity Bancshares Inc. presented to its investors.
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Equity Bancshares, Inc., headquartered in Wichita, Kansas, is a holding company for Equity Bank, providing a full spectrum of financial solutions including commercial loans, consumer banking, and wealth management services, with a focus on community-based customer service.
In its latest earnings report, Equity Bancshares announced a robust financial performance for the fourth quarter of 2024, highlighted by an expansion in net interest margin and a successful common equity capital raise. The company reported a net income of $17.0 million, equating to $1.04 earnings per diluted share.
Key financial metrics indicate a net interest margin of 4.17%, improved from the previous quarter, bolstered by non-recurring income sources. The tangible common equity ratio stood at 9.95% by the quarter’s end. Equity Bancshares also saw a significant increase in deposit balances to $4.4 billion and a 5% growth in loan balances, amounting to $3.5 billion.
Additionally, the company completed a capital raise by issuing 2,067,240 shares at $44.50 per share, resulting in a capital impact of $87.0 million. The return of Greg Kossover to the executive management team was also announced, a move expected to strengthen the company’s capital markets division.
Looking forward, Equity Bancshares is positioned to leverage its strengthened capital base to pursue both organic growth and strategic acquisitions, with optimism about opportunities in its operational markets. The management remains committed to delivering value to shareholders and maintaining strong financial performance in 2025.
