Equity Bancshares reports Q4 net loss of $28.3M on bond repositioning; announces Bank of Kirksville merger

EQUITY BANCSHARES INC

2023-FY EPS reported $0.50

Net loss of $28.3M (-$1.84 EPS) vs. prior Q3 net income $12.3M ($0.80); adjusted op. net income $11.9M ($0.77).
Sold $493.6M par of low-yield securities (1.20%), realized $50.6M loss; proceeds reinvested at higher yields.
Announced merger with Rockhold Bancorp/Bank of Kirksville ($406M assets, $122M loans, $344M deposits); expected close Q1 2024.
Loans held for investment grew $50.8M (6.1% annualized); deposits up $63.3M; tangible book value $25.37 vs $23.09 in Q3.
Nonperforming assets $26.5M (0.5% of assets); Classified assets / risk cap 7.1%; ACL 1.31% of loans.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EQUITY BANCSHARES INC reported the quarter ended December 31, 2023 results: net income a net loss of $28.3 million or $(1.84) earnings per diluted share, EPS $(1.84) per diluted share.

Period: the quarter ended December 31, 2023
Net income: a net loss of $28.3 million or $(1.84) earnings per diluted share
EPS: $(1.84) per diluted share
Result: reported results

Exact text from the filing

Equity Bancshares, Inc. (NYSE: EQBK), (“Equity”, “the Company”, “we,” “us,” “our”), the Wichita-based holding company of Equity Bank, reported a net loss of $28.3 million or $(1.84) earnings per diluted share for the quarter ended December 31, 2023.

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Source: SEC EDGAR

accession 0000950170-24-007022

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