Equity Bancshares Q4 2023 Earnings Report
Key Takeaways
Equity Bancshares, Inc. reported a net loss of $28.3 million for Q4 2023, or $(1.84) earnings per diluted share. Excluding bond repositioning and merger-related expenses, operating income would have been $11.9 million, or $0.77 earnings per diluted share. The company realized loan and deposit growth and announced a merger with Bank of Kirksville.
Realized linked quarter gross loans held-for-investment expansion of $50.8 million, or 6.1% annualized.
Realized linked quarter deposit growth of $63.3 million, including $13.3 million in non-brokered deposit balances.
Stockholders' Equity increased $34.7 million linked quarter, while tangible book value increased $35.5 million.
Announced planned merger with Rockhold Bancorp, the parent company of Bank of Kirksville
Equity Bancshares
Equity Bancshares
Forward Guidance
Equity Bancshares entered the fourth quarter positioned to take advantage of market opportunities which they expect will drive their operating growth in the future. With their team’s efforts around capital creation and management, they were able to announce their newest strategic combination with the Bank of Kirksville, Missouri, as well as a repositioning of their bond portfolio.