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Sep 30, 2023
Equity Bancshares Q3 2023 Earnings Report
Reported net income of $12.3 million and $0.80 earnings per diluted share.
Key Takeaways
Equity Bancshares reported a net income of $12.3 million, with earnings per diluted share at $0.80 for the quarter ended September 30, 2023. The company experienced growth in net interest margin and net interest income, driven by its core deposit base. Strong tangible and regulatory capital ratios and positive credit quality trends were maintained.
Net Interest Margin grew by 13 basis points, and Net Interest Income grew by $1.6 million.
Pre-tax, pre-provision net income for the quarter was $15.5 million, up $2.3 million linked quarter.
The Company's Board authorized a 20% increase in quarterly dividend to $0.12 per share, and authorized the repurchase of up to 1 million shares.
Classified loans as a percentage of total risk-based capital at Equity Bank were 6.3%, down from 7.9% as of June 30, 2023.
Forward Guidance
The press release does not contain forward guidance. Therefore, this section is left empty.
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