EQUITY BANCSHARES INC EQBK
We are a financial holding company headquartered in Wichita, Kansas. Our wholly-owned banking subsidiary, Equity Bank, provides a broad range of financial services primarily to businesses and business owners as well as individuals through our network of 77 branches located in Arkansas, Kansas, Missouri and Oklahoma, as of December 31, 2025. As of December 31, 2025, we had, on a consolidated basis, total assets of $6.37 billion, total deposits of $5.14 billion, total loans (net of allowances) of $4.15 billion and total stockholders' equity of $732.1 million.
Our principal objective is to increase stockholder value and generate consistent earnings growth by expanding our commercial banking franchise both organically and through strategic acquisitions. We strive to provide an enhanced banking experience for our customers by providing them with a comprehensive suite of sophisticated banking products and services tailored to meet their needs while delivering the high-quality relationship-based customer service of a community bank.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $330.8M | $296.8M | $246.7M | $188.2M | $157.4M | $155.6M | $175.5M | $161.6M | $102.7M | $61.8M |
| Interest expense | $104.8M | $110.7M | $87.7M | $25.4M | $14.8M | $22.9M | $49.6M | $36.8M | $16.7M | $9.2M |
| Pre-tax income | $26.4M | $78.3M | $2.4M | $70.3M | $64.4M | -$74.6M | $32.9M | $46.2M | $31.0M | $13.9M |
| Income tax | $3.7M | $15.7M | $5.4M | $12.6M | $12.0M | $400.0K | $7.3M | $10.3M | $10.4M | $4.5M |
| Net income | $22.7M | $62.6M | $7.8M | $57.7M | $52.5M | -$75.0M | $25.6M | $35.8M | $20.6M | $9.4M |
| EPS, basic | 1.24 | 4.04 | 0.50 | 3.56 | 3.49 | -4.97 | 1.64 | 2.33 | 1.66 | 1.09 |
| EPS, diluted | 1.23 | 4.00 | 0.50 | 3.51 | 3.43 | -4.97 | 1.61 | 2.28 | 1.62 | 1.07 |
| Shares, diluted (wtd. avg.) | $18.5M | $15.7M | $15.6M | $16.4M | $15.3M | $15.1M | $15.8M | $15.7M | $12.7M | $8.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $607.6M | $383.5M | $363.3M | $104.0M | $259.1M | $280.1M | $89.0M | $192.7M | $48.0M | $35.1M |
| Property, plant and equipment | $136.7M | $117.1M | $112.6M | $101.5M | $104.0M | $89.4M | $84.5M | $80.4M | $63.4M | $50.5M |
| Goodwill | $82.1M | $53.1M | $53.1M | $53.1M | $54.5M | $31.6M | $136.4M | $131.7M | $104.9M | $58.9M |
| Other intangibles | $21.6M | $15.0M | $7.2M | $10.6M | $14.9M | $16.1M | $19.9M | $21.7M | $10.7M | $4.7M |
| Total assets | $6.37B | $5.33B | $5.03B | $4.98B | $5.14B | $4.01B | $3.95B | $4.06B | $3.17B | $2.19B |
| Long-term debt | $443.2M | $312.8M | $386.9M | $288.7M | $159.4M | $141.8M | — | — | — | — |
| Total liabilities | $5.64B | $4.74B | $4.58B | $4.57B | $4.64B | $3.61B | $3.47B | $3.61B | $2.80B | $1.93B |
| Retained earnings | $205.3M | $194.9M | $141.0M | $140.1M | $88.3M | $50.8M | $125.8M | $101.3M | $65.5M | $44.3M |
| Total equity | $732.1M | $592.9M | $452.9M | $410.1M | $500.6M | $407.6M | $478.1M | $455.9M | $374.1M | $258.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $51.4M | $73.8M | $76.5M | $74.1M | $102.7M | $43.6M | $48.5M | $36.7M | $27.6M | $15.5M |
| Depreciation and amortisation | $6.3M | $5.6M | $4.7M | $4.6M | — | — | — | — | — | — |
| Stock-based compensation | $5.6M | $4.0M | $3.2M | $3.3M | $2.9M | $3.5M | $2.9M | $2.5M | $1.1M | $553.0K |
| Capital expenditure | $13.3M | $8.5M | $15.6M | $3.5M | $5.1M | $9.5M | $6.9M | $8.8M | $6.9M | $2.8M |
| Investing cash flow | $136.9M | $123.7M | $232.2M | -$214.2M | -$315.3M | $96.0M | $96.1M | -$171.5M | -$222.9M | -$140.7M |
| Financing cash flow | $35.8M | -$192.9M | -$34.0M | -$15.4M | $191.9M | $51.8M | -$248.1M | $275.4M | $212.4M | $103.4M |
| Dividends paid | $11.4M | $7.9M | $6.6M | $5.6M | $1.1M | — | — | — | — | $42.0K |
| Buybacks | $14.0M | $11.9M | $17.9M | $33.2M | $18.7M | $19.3M | $10.9M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-100184.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |