earnings
confidence high
sentiment positive
materiality 0.75
Equity Bancshares Q1 net income $14.1M ($0.90 EPS); record NII $44.2M; completes Rockhold Bancorp acquisition
EQUITY BANCSHARES INC
2024-Q1 EPS reported
$0.90
- Net income $14.1M, diluted EPS $0.90; adjusted EPS $1.03 excluding $2.6M merger/provision costs.
- Record net interest income $44.2M; net interest margin expanded to 3.75% from 3.49% linked quarter.
- Completed Rockhold Bancorp (Bank of Kirksville) acquisition Feb 9, adding $118.7M loans and $349.6M deposits.
- Loans held for investment grew $149.3M linked quarter ($30.6M organic); total deposits up $225.6M.
- Repurchased 209,591 shares at $32.24 avg; 790,409 remain under buyback program. NPAs at 0.5% of assets.