| SEGMENT REPORTING |
NOTE 16 – SEGMENT REPORTING Equity Bancshares, Inc. is a financial holding company, whose principal activity is the ownership and management of its wholly-owned subsidiaries, including Equity Bank (“Equity Bank”). As a community-oriented financial institution, substantially all of the Company’s operations involve the delivery of loan and deposit products to customers. Management makes operating decisions and assesses performance based on an ongoing review of these banking operations, which constitute the Company’s only operating segment for financial reporting purposes. The Company’s chief operating decision maker is comprised of the executive leadership team. For Equity Bancshares Inc., the executive leadership team uses gross profit and profit or loss from operations before interest and income taxes to allocate resources for in the annual budget and forecasting process. The chief operating decision maker considers budget-to-actual variances on a monthly basis for profit measures when making decisions about allocating capital and personnel to the operating segment. For Equity Bank, the executive leadership team uses net-interest income and non-interest income to allocate resources (including employees, financial, or capital resources) to that segment in the annual budget and forecasting process and uses that measure as a basis for evaluating lending terms for customer loans. The following tables present information about reported segment revenue, measures of a segment’s profit or loss, significant segment expenses, and measure of a segment’s assets for the three months ended March 31, 2026, and 2025. The Company does not allocate all holding company expenses, income taxes or unusual items to the reportable segment. The following tables present the reconciliations of reportable segment revenues and measures of profit or loss and line item reconciliation to the Company’s consolidated financial statement totals.
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Unallocated Holding |
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Company |
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Equity Bank |
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Amounts |
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Eliminations |
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Total |
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Three Months Ended March 31, 2026 |
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Interest and dividend income |
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$ |
107,976 |
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$ |
48 |
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$ |
— |
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$ |
108,024 |
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Interest expense |
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32,543 |
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|
1,817 |
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— |
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34,360 |
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Net interest income |
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75,433 |
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(1,769 |
) |
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— |
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73,664 |
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Provision (reversal) for credit losses |
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5,955 |
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— |
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— |
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5,955 |
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Net interest income after provision (reversal) for credit losses |
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69,478 |
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(1,769 |
) |
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— |
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67,709 |
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Non-interest income |
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Service charges and fees |
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2,493 |
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— |
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— |
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2,493 |
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Debit card income |
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3,117 |
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— |
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— |
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3,117 |
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Mortgage banking |
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348 |
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— |
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— |
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348 |
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Increase in value of bank-owned life insurance |
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1,398 |
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— |
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— |
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1,398 |
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Net gain (loss) from securities transactions |
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(108 |
) |
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— |
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— |
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(108 |
) |
Other |
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2,236 |
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20,512 |
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(20,509 |
) |
(a) |
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2,239 |
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Total non-interest income |
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9,484 |
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20,512 |
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(20,509 |
) |
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9,487 |
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Non-interest expense |
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Salaries and employee benefits |
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26,253 |
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2 |
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— |
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26,255 |
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Net occupancy and equipment |
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4,764 |
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25 |
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— |
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4,789 |
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Data processing |
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5,384 |
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4 |
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— |
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5,388 |
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Professional fees |
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1,657 |
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111 |
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— |
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1,768 |
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Advertising and business development |
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1,666 |
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— |
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— |
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1,666 |
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Telecommunications |
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690 |
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— |
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— |
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|
690 |
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FDIC insurance |
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765 |
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— |
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— |
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765 |
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Courier and postage |
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645 |
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— |
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— |
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645 |
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Free nationwide ATM cost |
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566 |
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— |
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— |
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566 |
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Amortization of core deposit intangibles |
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1,928 |
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— |
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— |
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1,928 |
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Loan expense |
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498 |
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— |
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— |
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498 |
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Other real estate owned |
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89 |
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2 |
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— |
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91 |
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Merger expenses |
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4,352 |
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1,373 |
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— |
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5,725 |
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Other |
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4,077 |
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118 |
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— |
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4,195 |
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Intersegment service charges |
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(1,280 |
) |
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1,280 |
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— |
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— |
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Total non-interest expense |
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52,054 |
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2,915 |
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— |
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54,969 |
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Income (loss) before income tax |
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26,908 |
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15,828 |
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(20,509 |
) |
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22,227 |
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Provision (benefit) for income taxes |
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5,616 |
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(355 |
) |
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— |
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5,261 |
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Total segment profit/(loss) |
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$ |
21,292 |
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$ |
16,183 |
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$ |
(20,509 |
) |
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$ |
16,966 |
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(a) Elimination of equity in earnings of subsidiary |
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Unallocated Holding |
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Company |
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Equity Bank |
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Amounts |
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Eliminations |
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Total |
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Three Months Ended March 31, 2025 |
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Interest and dividend income |
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$ |
74,623 |
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$ |
61 |
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$ |
— |
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$ |
74,684 |
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Interest expense |
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22,522 |
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|
1,870 |
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— |
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|
24,392 |
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Net interest income |
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52,101 |
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(1,809 |
) |
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— |
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50,292 |
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Provision (reversal) for credit losses |
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2,722 |
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— |
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— |
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|
2,722 |
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Net interest income after provision (reversal) for credit losses |
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49,379 |
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(1,809 |
) |
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— |
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|
47,570 |
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Non-interest income |
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Service charges and fees |
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2,064 |
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— |
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— |
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2,064 |
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Debit card income |
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2,504 |
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— |
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— |
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2,504 |
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Mortgage banking |
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106 |
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— |
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— |
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|
106 |
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Increase in value of bank-owned life insurance |
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3,593 |
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— |
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— |
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3,593 |
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Net gain on acquisition and branch sales |
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— |
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— |
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— |
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— |
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Net gain (loss) from securities transactions |
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12 |
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— |
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— |
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12 |
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Other |
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2,051 |
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17,044 |
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(17,044 |
) |
(a) |
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2,051 |
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Total non-interest income |
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10,330 |
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17,044 |
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(17,044 |
) |
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10,330 |
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Non-interest expense |
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Salaries and employee benefits |
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19,896 |
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58 |
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— |
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19,954 |
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Net occupancy and equipment |
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3,675 |
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— |
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— |
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3,675 |
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Data processing |
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5,086 |
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— |
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— |
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|
5,086 |
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Professional fees |
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1,330 |
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|
197 |
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— |
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|
1,527 |
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Advertising and business development |
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1,344 |
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— |
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— |
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1,344 |
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Telecommunications |
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|
587 |
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— |
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— |
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|
587 |
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FDIC insurance |
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630 |
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— |
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— |
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|
630 |
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Courier and postage |
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|
799 |
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— |
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— |
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|
799 |
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Free nationwide ATM cost |
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|
513 |
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— |
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— |
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|
513 |
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Amortization of core deposit intangibles |
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1,045 |
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— |
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— |
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|
1,045 |
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Loan expense |
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|
129 |
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— |
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— |
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|
129 |
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Other real estate owned |
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|
99 |
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2 |
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— |
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|
101 |
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Merger expenses |
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|
66 |
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— |
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— |
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|
66 |
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Other |
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|
3,160 |
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|
434 |
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— |
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|
3,594 |
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Intersegment service charges |
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(375 |
) |
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|
375 |
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— |
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— |
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Total non-interest expense |
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37,984 |
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|
1,066 |
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— |
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|
39,050 |
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Income (loss) before income tax |
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|
21,725 |
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|
14,169 |
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(17,044 |
) |
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|
18,850 |
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Provision (benefit) for income taxes |
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4,440 |
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(631 |
) |
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— |
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|
3,809 |
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Total segment profit/(loss) |
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$ |
17,285 |
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$ |
14,800 |
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$ |
(17,044 |
) |
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$ |
15,041 |
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(a) Elimination of equity in earnings of subsidiary |
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For the Three Months Ended March 31, |
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2026 |
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|
2025 |
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|
Equity Bank |
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Administrative Adjustments |
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Total |
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Equity Bank |
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Administrative Adjustments |
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Total |
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Depreciation |
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$ |
1,574 |
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$ |
63 |
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$ |
1,637 |
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$ |
1,434 |
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$ |
45 |
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$ |
1,479 |
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Amortization of operating lease
right-of-use-asset |
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|
339 |
|
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|
— |
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|
339 |
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|
127 |
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— |
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|
127 |
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Amortization of cloud computing
implementation costs |
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18 |
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— |
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|
18 |
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|
21 |
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— |
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|
21 |
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Amortization of intangible assets |
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|
2,056 |
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— |
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|
2,056 |
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|
1,144 |
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— |
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|
1,144 |
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Purchase of long lived assets |
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|
3,796 |
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|
— |
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|
3,796 |
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|
1,464 |
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|
— |
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|
1,464 |
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Provision (benefit) for income taxes |
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|
5,616 |
|
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|
(355 |
) |
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|
5,261 |
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|
4,440 |
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|
(631 |
) |
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|
3,809 |
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March 31, |
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December 31, |
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|
2026 |
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|
2025 |
|
Assets |
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Total assets for reportable segments |
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$ |
7,648,375 |
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$ |
6,322,637 |
|
Holding company administrative adjustments |
|
|
932,408 |
|
|
|
848,320 |
|
Elimination of bank cash and equity in earnings of subsidiaries |
|
|
(25,447 |
) |
|
|
(40,544 |
) |
Elimination of investment in subsidiaries |
|
|
(887,966 |
) |
|
|
(757,241 |
) |
Consolidated total assets |
|
$ |
7,667,370 |
|
|
$ |
6,373,172 |
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|