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Mar 31, 2022
Equity Bancshares Q1 2022 Earnings Report
Reported net income of $15.7 million and EPS of $0.93, demonstrating continued organic growth and momentum following recent acquisitions.
Key Takeaways
Equity Bancshares reported a strong first quarter with a net income of $15.7 million, or $0.93 per diluted share. The company experienced growth in loans held for investment, realized economic benefits from acquisitions, and continued to manage its problem asset portfolio effectively.
Loans held for investment grew by 14.53% period over period, excluding PPP assets.
The company benefited economically from the American State Bancshares and Almena State Bank acquisitions, with $5.7 million realized economic benefit.
Non-performing ratios improved by over 30% compared to December 31, 2021, and classified assets to regulatory capital fell to 17.1%.
The company repurchased 384,383 shares during the quarter at an average price of $32.21 and continued its quarterly dividend program at $0.08 per share.
Forward Guidance
This press release contains forward-looking statements that reflect the current views of Equity’s management with respect to, among other things, future events and Equity’s financial performance.
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Avg. Return Before/After Earnings
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