Equity Bancshares, Inc.

Net income was $26.4 million, or $1.27 per diluted share, versus core net income of $29.4 million, or $1.41 per share. Net interest income was $73.9 million, and net interest margin was 4.36%, up 3 basis points quarter over quarter. Core non-interest income was $10.3 million, up $0.7 million linked quarter, while non-interest expense was $46.9 million and the efficiency ratio improved to 53.4%. Loan purchase accounting accretion contributed $2.9 million, or approximately 17 basis points. Capital remained strong with TCE at 9.07%, CET1 at 11.84%, and total risk-based capital at 14.66%. For second-half 2026, management guided to average earning assets of $6.85 billion-$6.95 billion, non-interest income of $18 million-$22 million, and non-interest expense of $94 million-$98 million. Management said margin may decrease modestly in the second half as accretion burns down and the asset mix shifts.

Brad Elliott framed the quarter as the first cleaner view of the combined franchise after NBC and Frontier, saying merger noise is now behind them and the focus has shifted to organic growth. He sounded highly optimistic about AI and automation, saying the bank is already using the tools in production and that the real efficiency gains should come later. He also emphasized that M&A remains part of the strategy, but only when it fits the return bar and strengthens the company.

Chris Navratil highlighted that reported net income was $26.4 million and core net income was $29.4 million, with pre-tax, pre-provision net revenue of $36.4 million, up $2.4 million quarter over quarter. He pointed to margin at 4.36%, purchase accounting accretion of $2.9 million, and a significant decline in non-interest expense to $46.9 million, while noting second-half guidance for average earning assets of $6.85 billion-$6.95 billion, non-interest income of $18 million-$22 million, and expenses of $94 million-$98 million. He also said capital stayed strong, with TCE at 9.07%, CET1 at 11.84%, total risk-based capital at 14.66%, and tangible book value per share rising to $33.45 from $32.58.

Analysts focused on how much loan growth could offset runoff from acquired portfolios, and management said they expect low-single-digit or mid-single-digit growth in the second half as legacy markets and new metro teams gain traction. Questions also centered on the expense run rate, the margin outlook in a higher-rate environment, and capital deployment; management said much of the expense improvement came from getting through the Frontier conversion, while AI benefits are still early-stage. On buybacks and M&A, Brad Elliott said capital will be balanced between repurchases and acquisition opportunities, and that the board has already approved a higher buyback authorization pending regulatory approval.