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Mar 31, 2023
Equity Bancshares Q1 2023 Earnings Report
Equity Bancshares reported first quarter results, demonstrating deposit stability and improved asset quality.
Key Takeaways
Equity Bancshares, Inc. reported a net income of $12.3 million, with earnings per diluted share at $0.77 for the quarter ended March 31, 2023. The company experienced steady deposits and loan growth, excluding PPP and branch sales, was $19.1 million. The increase during the quarter was primarily driven by an increase in non-interest income of $760 thousand and a decrease in income tax expense of $1.1 million.
Total deposits increased by $46.1 million during the quarter, or 4.4% linked quarter annualized.
Cash and cash equivalents increased by $145.9 million during the quarter.
Equity repurchased $9.6 million of common stock, representing 2.0% of shares outstanding.
The ratio of non-performing assets to total assets improved 4bps linked quarter to 0.3%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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