Equity Bancshares Q2 2024 Earnings Report
Key Takeaways
Equity Bancshares reported a strong second quarter in 2024, characterized by record net interest income and net interest margin expansion. The company reported net income of $11.7 million, or $0.76 earnings per diluted share. Adjusted net income was $15.3 million, or $0.99 per diluted share, excluding merger and BOLI-related costs.
Earnings per diluted share were $0.99, adjusted to exclude merger expenses and BOLI repositioning costs.
Operations of the Rockhold Bancorp merger were integrated, and the merger with KansasLand Bancshares, Inc. was closed.
Net interest income reached an all-time high of $46.5 million due to strategic transactions.
The company repurchased 152,982 shares at a weighted average cost of $33.35.
Equity Bancshares
Equity Bancshares
Forward Guidance
The press release does not contain specific forward guidance. It highlights the company's position to facilitate strategic M&A and leverage its balance sheet for franchise growth.
Positive Outlook
- Continued increase in margin
- Opportunities to enhance customer relationships
- Building stockholder value
- Leverage balance sheet position to grow our franchise
- Positioned to facilitate strategic M&A