Equity Bancshares (EQBK) investor relations material

Executive summary

• Completed the Frontier acquisition, expanding into Nebraska and increasing assets by 41% year-over-year to $7.7 billion, with loans up 49% to $5.4 billion and deposits up 43% to $6.3 billion.

• Achieved record quarterly revenue and strong organic growth, with core net income for Q1 2026 at $28.0 million and core EPS of $1.32, up 46% year-over-year.

• Integration of Frontier completed on time, realizing cost savings and operational synergies.

• Entered the Nebraska market, expanding presence to six states and seven major metros.

Financial highlights

• Net interest income rose to $73.7 million, up 46.5% year-over-year and 16.0% sequentially, with net interest margin at 4.33%.

• Adjusted net income was $26.3 million ($1.23 per share), up from $23.3 million prior quarter.

• Non-interest income was $9.5 million, flat sequentially; non-interest expenses (adjusted) up to $49.2 million due to integration.

• Pre-tax, pre-provision net revenue (ex-M&A) was $34.7 million ($1.63/share), up from $28.8 million prior quarter.

• Efficiency ratio improved to 56.7% from 62.5% year-over-year.

Outlook and guidance

• FY2026 guidance: average loans $5.5–5.6 billion, average deposits $6.2–6.4 billion, net interest margin 4.20–4.35%.

• Confident in $5 per share target for 2026; anticipate mid-single-digit organic loan growth and continued strong capital generation.

• Effective tax rate forecasted at 22–23% for the year; provision run rate expected at $1.5–2 million per quarter, excluding one-time items.

• Core noninterest income projected at $38–42 million; core noninterest expense at $194–198 million.