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Mar 31, 2020
Equity Bancshares Q1 2020 Earnings Report
Equity Bancshares reported first quarter earnings with net income of $1.3 million and EPS of $0.08 per diluted share.
Key Takeaways
Equity Bancshares reported a net income of $1.3 million, or $0.08 per diluted share, for the first quarter ended March 31, 2020. The company increased its net interest margin and provided reserves for loan losses due to the COVID-19 environment.
Net income allocable to common stockholders was $1.3 million, or $0.08 per diluted share.
Net interest margin increased due to lower cost of liabilities.
Provision for loan losses was $9.9 million, representing 85% of pre-tax income.
Completed over 1,600 Small Business Administration loan applications through the Paycheck Protection Program.
Equity Bancshares
Equity Bancshares
Forward Guidance
Equity Bancshares did not provide specific forward guidance in this earnings report.