Equity Bancshares Q3 2020 Earnings Report
Key Takeaways
Equity Bancshares, Inc. reported a net loss of $90.4 million, or $6.01 per diluted share, for the third quarter ended September 30, 2020, primarily due to a $104.8 million impairment in the value of goodwill. Adjusted net income, excluding the impairment charge, was $9.1 million, or $0.60 per diluted share. The company maintained a Tier 1 capital ratio of 13.3% and grew tangible book value to $23.72 per share.
Equity recorded a $104.8 million impairment in the value of goodwill, resulting in a net loss of $90.4 million, or $6.01 per diluted share.
Net income, adjusted to exclude the impairment charge on goodwill, was $9.1 million, or $0.60 per diluted share.
Approximately 1% of loans were on deferral as of September 30, 2020, down from approximately 24% on June 30, 2020.
Tangible book value per common share was $23.72 at September 30, 2020.
Equity Bancshares
Equity Bancshares
Forward Guidance
This document does not contain forward guidance.