- Equity Bancshares press release (NYSE:EQBK): First quarter non-GAAP EPS of $1.03 beats by $0.07.
- Revenues of $55.91 million (+17.2% y/y) beats by $0.54 million.
- The provision for bad debts closed the quarter at 1.28% of total loans.
- In the three months ending in March As of January 31, 2024, a provision of $1.0 million was made compared to a provision of $711 thousand in the prior quarter.
- As of March 31, 2024, the effective tax rate for the quarter was 20.8% compared to a normalized rate of 7.5% for the quarter ended December 31, 2023.
- Total deposits were $4.4 billion as of March 31, 2024, up $225.6 million from the end of the prior quarter.
- As of March 31, 2024, the Company’s Common Equity Tier 1 capital to risk-weighted assets ratio was 11.1%, its total capital to risk-weighted assets was 14.7%, and its leverage ratio total was 9.1%.
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