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Highlights
• Net interest margin rose 10 basis points sequentially, reaching 4.17% in Q2 2025
• Adjusted EPS at USD 0.94, excluding USD 1.7 million in merger and debt extinguishment costs
• NBC Oklahoma acquisition added USD 800.5 million in deposits and USD 695.1 million in loans

Equity Bancshares, Inc. (NYSE: EQBK) reported second quarter 2025 net income of USD 15.3 million, or USD 0.86 per diluted share. Adjusted for merger-related expenses and debt extinguishment costs totaling USD 1.7 million, earnings were USD 0.94 per share. The quarter included the finalization of the NBC Oklahoma acquisition, which closed on July 2, 2025.

About the company: Equity Bancshares is the parent company of Equity Bank, headquartered in Wichita, Kansas. The bank provides community banking services across Kansas, Missouri, Arkansas, and now Oklahoma following its NBC acquisition.

Net interest income for the quarter was USD 49.8 million. Adjusted for one-time items in the prior quarter, this marks an increase of USD 1.8 million. Net interest margin improved to 4.17% from 4.07%, driven by growth in loan yields and a one-basis-point reduction in funding costs.

Loan balances at quarter-end were USD 3.60 billion, with average loan balances of USD 3.63 billion, reflecting a USD 55.8 million increase on an annualized basis. Deposit balances excluding brokered deposits declined by USD 43.4 million, primarily due to seasonal factors. Brokered deposits decreased by USD 127.1 million during the period.

Total non-interest income came in at USD 8.6 million, compared to USD 10.3 million in the previous quarter, which had included a one-time USD 2.2 million death benefit. Excluding that item, service-related revenues grew, supported by gains in treasury and card services.

Non-interest expenses totaled USD 40.0 million, up from USD 39.1 million last quarter, reflecting merger and debt-related costs. Excluding these, expenses declined by USD 699 thousand. The efficiency ratio and core return measures were not detailed in this release but were referenced as part of Equity's supplemental non-GAAP reporting.

Asset quality remained stable with net charge-offs of USD 573 thousand, or 0.06% annualized. The allowance for credit losses remained unchanged at 1.26% of gross loans. However, nonperforming assets rose to USD 45.7 million, or 0.9% of total assets, up from 0.5% in the prior quarter.

Tangible book value per share rose to USD 32.17 from USD 31.07, reflecting earnings retention and a USD 15.3 million improvement in unrealized losses on the bond portfolio. Equity’s common equity tier 1 capital ratio rose to 15.0%, while its total leverage ratio stood at 12.1%.

Equity Bancshares declared a USD 0.15 dividend during the quarter and repurchased 7,500 shares at an average price of USD 36.46.