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Jun 30, 2022
Equity Bancshares Q2 2022 Earnings Report
Reported second quarter results with continued organic growth.
Key Takeaways
Equity Bancshares reported a net income of $15.3 million and earnings per diluted share of $0.94 for the quarter ended June 30, 2022. The company experienced NIM expansion, organic growth in the loan portfolio, and noninterest income growth, alongside well-managed operating expenses.
Continued loan growth excluding PPP assets and branch sale, bringing annualized loan growth year-to-date to 8.51%.
Linked period growth of 5.38% in service fee income, driven by debit card revenue and service charges on Equity Bank deposit products.
Closed on the sale of three branches, resulting in a net gain of $540 thousand.
Classified assets to regulatory capital declined to 13.1% from 17.1% at March 31, 2022.
Forward Guidance
Equity Bancshares expects to continue strengthening its loan to deposit ratio and serve as a resource for its customers as they navigate economic challenges.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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