Equity Bancshares (EQBK) investor relations material

Executive summary

• Completed merger with NBC Oklahoma, adding $665M in loans and $808M in deposits, and fully integrated systems by late August.

• Announced definitive merger agreement with Frontier Holdings, expanding into Nebraska markets including Omaha and Lincoln.

• Reported a net loss of $29.7M ($1.57 per diluted share) for Q3 2025, primarily due to a $53.4M realized loss from bond portfolio repositioning and merger-related expenses.

• Adjusted net income, excluding one-time items, was $23.3M ($1.21 per diluted share).

• Raised $75M in subordinated debt to support continued growth and M&A strategy.

Financial highlights

• Net interest income rose to $62.5M, up $12.7M sequentially, driven by the NBC Oklahoma acquisition.

• Net interest margin expanded to 4.45% from 4.17% sequentially; normalized margin at 4.36%.

• Noninterest income grew to $8.9M, up from $8.6M in the prior quarter, mainly from service charges and fees.

• Noninterest expense increased to $49.1M, up $9.1M sequentially, including $6.2M in merger expenses.

• Total deposits at $5.1B and gross loans at $4.3B as of Q3 2025.

Outlook and guidance

• Margin expected in the 4.4%-4.5% range for Q4 2025, with normalization of purchase accounting and removal of non-accrual benefits.

• 2026 full-year guidance (inclusive of Frontier Bank merger): average deposits $5.0–5.1B, average loans $5.6–5.8B, NIM 4.20–4.35%.

• Full-year 2026 guidance includes Frontier impacts; transaction expected to close in 2025/2026, pending regulatory approval.

• Positioned to earn $5 per share in 2026, with approximately 40% balance sheet growth projected for 2025.

• Anticipated full-year tax rate between 17% and 19% due to bond sale losses.