Equity Bancshares Inc.

11/06/2026 | Press release | Distributed by Public on 11/06/2026 15:17

Quarterly Report for Quarter Ending September 30, 2026 (Form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in our Annual Report on Form 10-K, as amended, filed with the SEC on March 6, 2026, and our consolidated financial statements and related notes appearing elsewhere in this Quarterly Report. The following discussion contains "forward-looking statements" that reflect our future plans, estimates, beliefs and expected performance. We caution that assumptions, expectations, projections, intentions or beliefs about future events may, and often do, vary from actual results and the differences can be material. See "Cautionary Note Regarding Forward-Looking Statements." Also, see the risk factors and other cautionary statements described under the heading "Item 1A: Risk Factors" included in the Annual Report on Form 10-K and in Item 1A of this Quarterly Report. We do not undertake any obligation to publicly update any forward-looking statements except as otherwise required by applicable law.

This discussion and analysis of our financial condition and results of operation includes the following sections:

•
Selected Financial Data and Ratios - a table containing selected financial data and ratios for the five most recent quarters;
•
Overview - a general description of our business and financial highlights;
•
Critical Accounting Estimates - a discussion of accounting policies that require critical estimates and assumptions;
•
Results of Operations - an analysis of our operating results, including disclosures about the sustainability of our earnings;
•
Financial Condition - an analysis of our financial position;
•
Liquidity and Capital Resources - an analysis of our cash flows and capital position; and
•
Non-GAAP Financial Measures - a reconciliation of non-GAAP measures.

(Dollars in thousands, except per share data)

September 30,
2026

June 30,
2026

March 31,
2026

December 31,
2025

September 30,
2025

Statement of Income Data (for the quarterly period ended)

Interest and dividend income

$

108,966

$

107,824

$

108,024

$

90,866

$

91,098

Interest expense

36,125

33,952

34,360

27,364

28,613

Net interest income

72,841

73,872

73,664

63,502

62,485

Provision (reversal) for credit losses

1,657

1,304

5,955

(16

)

6,228

Net gain (loss) from securities transactions

10

(1,213

)

(108

)

154

(53,352

)

Other non-interest income

10,894

9,271

9,595

9,378

8,873

Merger expenses

967

133

5,725

1,481

6,163

Other non-interest expense

47,147

46,752

49,244

45,106

42,919

Income (loss) before income taxes

33,974

33,741

22,227

26,463

(37,304

)

Provision for income taxes

7,200

7,302

5,261

4,379

(7,641

)

Net income (loss)

26,774

26,439

16,966

22,084

(29,663

)

Net income (loss) allocable to common stockholders

26,774

26,439

16,966

22,084

(29,663

)

Basic earnings (loss) per share

$

1.30

$

1.28

$

0.81

$

1.16

$

(1.55

)

Diluted earnings (loss) per share

$

1.29

$

1.27

$

0.80

$

1.15

$

(1.55

)

Balance Sheet Data (at period end)

Cash and cash equivalents

$

338,268

$

546,531

$

564,165

$

607,817

$

699,410

Securities available-for-sale

1,240,394

1,229,692

1,125,162

1,030,568

903,858

Securities held-to-maturity

5,167

5,168

5,254

5,248

5,243

Loans held for sale

2,425

2,723

7,631

1,392

617

Gross loans held for investment

5,444,882

5,405,718

5,428,275

4,198,180

4,268,587

Allowance for credit losses

63,978

64,413

64,245

52,756

53,469

Loans held for investment, net of allowance for credit losses

5,380,904

5,341,305

5,364,030

4,145,424

4,215,118

Goodwill and core deposit intangibles, net

131,841

133,652

135,494

103,735

100,468

Naming rights, net

5,476

5,553

5,629

5,703

5,778

Total assets

7,591,137

7,725,621

7,667,370

6,373,172

6,365,631

Total deposits

6,167,428

6,303,817

6,300,910

5,138,264

5,094,769

Borrowings

532,033

526,611

484,932

438,009

481,772

Total liabilities

6,775,183

6,898,363

6,849,760

5,641,118

5,653,739

Total stockholders' equity

815,954

827,258

817,610

732,054

711,892

Tangible common equity*

678,637

688,053

676,487

622,616

605,646

Performance ratios

Return on average assets (ROAA) annualized

1.43

%

1.45

%

0.92

%

1.43

%

(1.93

)%

Return on average equity (ROAE) annualized

12.71

%

12.86

%

8.17

%

12.07

%

(16.45

)%

Return on average tangible common equity (ROATCE)* annualized

16.10

%

16.59

%

10.77

%

14.91

%

(18.31

)%

Yield on loans annualized

6.71

%

6.74

%

6.80

%

7.01

%

7.18

%

Cost of interest-bearing deposits annualized

2.53

%

2.46

%

2.51

%

2.43

%

2.58

%

Cost of total deposits annualized

2.05

%

1.98

%

2.00

%

1.88

%

1.98

%

Net interest margin annualized

4.20

%

4.36

%

4.33

%

4.47

%

4.45

%

Efficiency ratio*

53.99

%

53.38

%

56.68

%

59.98

%

58.31

%

Non-interest expense to net interest income plus non-interest income

57.45

%

57.23

%

66.11

%

63.79

%

272.59

%

Non-interest income / average assets annualized

0.58

%

0.44

%

0.52

%

0.62

%

(2.90

)%

Non-interest expense / average assets annualized

2.58

%

2.57

%

2.99

%

3.01

%

3.20

%

Dividend payout ratio

17.18

%

14.18

%

22.31

%

15.73

%

(11.78

)%

Performance ratios - Core

Core earnings per diluted share*

$

1.40

$

1.41

$

1.32

$

1.26

$

1.21

Core return on average assets*

1.56

%

1.61

%

1.52

%

1.57

%

1.51

%

Core return on average equity*

13.78

%

14.26

%

13.41

%

13.23

%

12.47

%

Core return on average tangible common equity*

16.51

%

17.17

%

16.10

%

15.56

%

14.30

%

Core non-interest expense / average assets*

2.42

%

2.43

%

2.57

%

2.82

%

2.71

%

Capital Ratios

Tier 1 Leverage Ratio

10.18

%

9.97

%

9.59

%

10.64

%

10.41

%

Common Equity Tier 1 Capital Ratio

12.15

%

11.84

%

11.54

%

13.08

%

12.84

%

Tier 1 Risk Based Capital Ratio

12.56

%

12.26

%

11.96

%

13.59

%

13.35

%

Total Risk Based Capital Ratio

14.94

%

14.66

%

14.36

%

16.31

%

16.09

%

Total Stockholders' equity / Total Assets

10.75

%

10.71

%

10.66

%

11.49

%

11.18

%

Tangible common equity to tangible assets*

9.10

%

9.07

%

8.99

%

9.94

%

9.68

%

Book value per share

$

39.59

$

40.22

$

39.37

$

38.64

$

37.25

Tangible common book value per share*

$

32.93

$

33.45

$

32.58

$

32.86

$

31.69

Tangible common book value per diluted share*

$

32.62

$

33.06

$

32.30

$

32.43

$

31.41

* The value noted is considered a Non-GAAP financial measure. For a reconciliation of Non-GAAP financial measures see "Non-GAAP Financial Measures" in this Item 2.

Overview

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 82 full-service banking sites located in Arkansas, Iowa, Kansas, Missouri, Nebraska and Oklahoma. Net income was $26.8 million and $70.2 million for the three and nine months ended September 30, 2026, compared with a net loss of $29.7 million and net income of $642 thousand for the same periods in 2025. There was a $53.4 million net loss on securities transactions included in the third quarter of 2025 in connection with the repositioning of our investment portfolio (see "Non-Interest Income").

Critical Accounting Estimates

Our significant accounting policies are integral to understanding the results reported. Our accounting policies are described in detail in Note 1 to the December 31, 2025, audited financial statements included in our Annual Report on Form 10-K, as amended, filed with the SEC on March 6, 2026. The preparation of our financial statements in accordance with GAAP requires management to make a number of judgments and assumptions that affect our reported results and disclosures. Several of our accounting policies are inherently subject to valuation assumptions and other subjective assessments and are more critical than others in terms of their importance to results. Changes in any of the estimates and assumptions underlying critical accounting policies could have a material effect on our financial statements. See also "NOTE 1 - BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES" in the Notes to Interim Consolidated Financial Statements.

The accounting policies that management believes are the most critical to an understanding of our financial condition and results of operations and require complex management judgment are described below.

Allowance for Credit Losses: The allowance for credit losses represents management's estimate of all expected credit losses over the expected life of our loan portfolio. This assessment includes procedures to estimate the allowance and test the adequacy and appropriateness of the resulting balance. The level of the allowance is based upon management's evaluation of historical default and loss experience, current and projected economic conditions, asset quality trends, known and inherent risks in the portfolio, adverse situations that may affect the borrower's ability to repay a loan (including the timing of future payments), the estimated value of any underlying collateral, composition of the loan portfolio, industry and peer bank loan quality indications, and other pertinent factors, including regulatory recommendations. The level of the allowance for credit losses maintained by management is believed adequate to absorb all expected future losses inherent in the loan portfolio at the balance sheet date; however, determining the appropriateness of the allowance is complex and requires judgment by management about the effect of matters that are inherently uncertain. The actual realized facts and circumstances may be different than those currently estimated by management and may result in significant changes in the allowance for credit losses in future periods. The allowance for credit losses, as reported in our consolidated balance sheets, is adjusted by provision for credit losses, which is recognized in earnings and is reduced by the charge-off of loan amounts, net of recoveries.

The allowance represents management's best estimate, but significant changes in circumstances relating to loan quality and economic conditions could result in significantly different results than what is reflected in the consolidated balance sheet as of September 30, 2026. At September 30, 2026, the allowance for credit losses was $64.0 million, or 1.18% of loans held for investment, of which $10.1 million related to loans individually evaluated for credit losses. Individually evaluated loans increased to $93.0 million at September 30, 2026 from $52.3 million at December 31, 2025, primarily reflecting the increase in nonaccrual loans. Likewise, an improvement in loan quality or economic conditions may allow for a further reduction in the required allowance. Changing credit conditions would be expected to impact realized losses, driving variability in specifically assessed allowances, as well as calculated quantitative and more subjectively analyzed qualitative factors. Significant changes in economic conditions, both positive and negative, could result in unexpected realization of provision or reversal of allowance for credit losses due to its impact on the quantitative and qualitative inputs to our calculation. Under the CECL methodology, the impact of these conditions has the potential to further exacerbate periodic differences due to its life of loan perspective. The life of loans calculated under the methodology is based in contractual duration, modified for prepayment expectations, making significant variation in periodic results possible due to changing contractual or adjusted duration of the assets within the calculation.

Goodwill: Goodwill results from business acquisitions and represents the excess of the purchase price over the fair value of acquired tangible assets and liabilities and identifiable intangible assets. Goodwill is assessed at least annually for impairment and any such impairment is recognized and expensed in the period identified. Goodwill will be assessed more frequently if a triggering event occurs which indicates that the carrying value of the asset might be impaired. We have selected December 31 as the date to perform our annual goodwill impairment test. Goodwill was $105.4 million at September 30, 2026, an increase of $23.3 million from December 31, 2025, resulting from the Frontier acquisition. Goodwill is the only intangible asset with an indefinite useful life. For the quarter ended September 30, 2026, management conducted the quarterly qualitative assessment and has determined there was no evidence of a triggering event as of or during the period then ended. In making this assessment, management considered, among other factors, that our market capitalization exceeded the book value of our stockholders' equity,

our financial performance relative to expectations, and macroeconomic and industry conditions. Based on this qualitative analysis and conclusion, it was determined that a more robust quantitative assessment was not necessary at our measurement date.

When performing quantitative goodwill impairment assessments, management is required to estimate the fair value of our equity in a change in control transaction. To complete this valuation, management is required to derive assumptions related to industry performance, reporting unit business performance, economic and market conditions, and various other assumptions, many of which require significant management judgment.

Although management believes that the judgments and estimates used are reasonable, actual results could differ and we may be exposed to losses or gains that could be material.

Results of Operations

We generate our revenue from interest income and fees on loans, interest and dividends on investment securities, and non-interest income, such as service charges and fees, debit card income, trust and mortgage banking income. We incur interest expense on deposits and other borrowed funds and non-interest expense, such as salaries and employee benefits and occupancy expenses.

Changes in interest rates earned on interest-earning assets or incurred on interest-bearing liabilities, as well as the volume and types of interest-earning assets, interest-bearing and non-interest-bearing liabilities and stockholders' equity, are usually the largest drivers of periodic change in net interest income. Fluctuations in interest rates are driven by many factors, including governmental monetary policies, inflation, deflation, macroeconomic developments, changes in unemployment, the money supply, political and international circumstances and domestic and foreign financial markets. Periodic changes in the volume and types of loans in our loan portfolio are affected by, among other factors, economic and competitive conditions in Arkansas, Iowa, Kansas, Missouri, Nebraska and Oklahoma, as well as developments affecting the consumer, commercial and real estate sectors within these markets.

Net Income

Three months ended September 30, 2026, compared with three months ended September 30, 2025: Net income (loss) allocable to common stockholders for the three months ended September 30, 2026, was $26.8 million, or $1.29 diluted earnings per share as compared to $(29.7) million, or $(1.55) diluted earnings per share for the three months ended September 30, 2025, an increase of $56.4 million. The increase was primarily driven by a $55.4 million increase in non-interest income, because the third quarter of 2025 included a $53.4 million net loss on securities transactions (see "Non-Interest Income"), and a $10.4 million increase in net interest income (interest and dividend income increased $17.9 million, partially offset by a $7.5 million increase in interest expense). Also contributing were a $4.6 million decrease in the provision for credit losses and a $968 thousand decrease in non-interest expense, partially offset by a $14.8 million increase in income tax expense.

Nine months ended September 30, 2026, compared with nine months ended September 30, 2025: Net income allocable to common stockholders for the nine months ended September 30, 2026, was $70.2 million, or $3.35 diluted earnings per share as compared to $642 thousand, or $0.04 diluted earnings per share for the nine months ended September 30, 2025, an increase of $69.5 million. The increase was primarily driven by a $54.0 million increase in non-interest income, because the nine months ended September 30, 2025 included a $53.3 million net loss on securities transactions, and a $57.8 million increase in net interest income (interest and dividend income increased $84.8 million, partially offset by a $27.0 million increase in interest expense), partially offset by a $21.8 million increase in non-interest expense and a $20.5 million increase in income tax expense.

Net Interest Income and Net Interest Margin Analysis

Net interest income is the difference between interest income on interest-earning assets, including loans and securities, and interest expense incurred on interest-bearing liabilities, including deposits and other borrowed funds. To evaluate net interest income, management measures and monitors (1) yields on loans and other interest-earning assets, (2) the costs of deposits and other funding sources, (3) the net interest spread, and (4) net interest margin. Net interest spread is the difference between rates earned on interest-earning assets and rates paid on interest-bearing liabilities. Net interest margin is calculated as net interest income divided by average interest-earning assets. Because non-interest-bearing sources of funds, such as non-interest-bearing deposits and stockholders' equity also fund interest-earning assets, net interest margin includes the benefit of these non-interest-bearing sources of funds. Net interest income is affected by changes in the amount and mix of interest-earning assets and interest-bearing liabilities, referred to as a "volume change," and is also affected by changes in yields earned on interest-earning assets and rates paid on interest-bearing deposits and other borrowed funds, referred to as a "yield/rate change."

Three months ended September 30, 2026, compared with three months ended September 30, 2025: The following table

shows the average balance of each principal category of assets, liabilities, and stockholders' equity and the average yields on interest-earning assets and average rates on interest-bearing liabilities for the three months ended September 30, 2026, and 2025. The yields and rates are calculated by dividing annualized income or annualized expense by the average daily balances of the associated assets or liabilities.

Average Balance Sheets and Net Interest Analysis

For the Three Months Ended September 30,

2026

2025

(Dollars in thousands)

Average
Outstanding
Balance

Interest
Income/
Expense

Average
Yield/
Rate(3)(4)

Average
Outstanding
Balance

Interest
Income/
Expense

Average
Yield/
Rate(3)(4)

Interest-earning assets:

Loans(1)

Commercial and industrial

$

902,095

$

16,542

7.28

%

$

934,768

$

18,234

7.74

%

Commercial real estate

2,256,516

38,800

6.82

%

1,745,714

31,729

7.21

%

Real estate construction

748,956

12,967

6.87

%

505,345

10,109

7.94

%

Residential real estate

702,123

9,146

5.17

%

575,341

6,849

4.72

%

Agricultural real estate

439,616

7,818

7.06

%

245,017

5,165

8.36

%

Agricultural

239,629

4,235

7.01

%

132,095

2,981

8.95

%

Consumer

105,527

1,769

6.65

%

109,058

1,844

6.71

%

Total loans

5,394,462

91,277

6.71

%

4,247,338

76,911

7.18

%

Taxable securities

1,247,436

15,575

4.95

%

875,646

9,416

4.27

%

Nontaxable securities

20,691

190

3.64

%

40,342

307

3.02

%

Total Securities

1,268,127

15,765

4.93

%

915,988

9,723

4.21

%

Federal funds sold and other

210,840

1,924

3.62

%

411,549

4,464

4.30

%

Total interest-earning assets

6,873,429

108,966

6.29

%

5,574,875

91,098

6.48

%

Non-interest-earning assets:

Other real estate owned, net

4,353

4,471

Premises and equipment, net

143,182

135,245

Bank-owned life insurance

150,634

145,755

Goodwill, core deposit and other intangibles, net

138,094

95,046

Other non-interest-earning assets

99,236

129,672

Total assets

$

7,408,928

$

6,085,064

Interest-bearing liabilities:

Interest-bearing demand deposits

$

1,450,404

7,425

2.03

%

$

1,199,439

6,731

2.23

%

Savings and money market

1,975,392

11,226

2.25

%

1,676,679

9,663

2.29

%

Demand, savings and money market

3,425,796

18,651

2.16

%

2,876,118

16,394

2.26

%

Certificates of deposit

1,522,862

12,863

3.35

%

962,613

8,596

3.54

%

Total interest-bearing deposits

4,948,658

31,514

2.53

%

3,838,731

24,990

2.58

%

FHLB term and line of credit advances

262,769

2,556

3.86

%

168,011

1,741

4.11

%

Subordinated debt

98,431

1,824

7.35

%

85,556

1,619

7.51

%

Other borrowings

47,698

231

1.92

%

46,835

263

2.23

%

Total interest-bearing liabilities

5,357,556

36,125

2.68

%

4,139,133

28,613

2.74

%

Non-interest-bearing liabilities and
stockholders' equity:

Non-interest-bearing checking accounts

1,155,670

1,166,099

Non-interest-bearing liabilities

60,151

64,513

Stockholders' equity

835,551

715,319

Total liabilities and stockholders' equity

$

7,408,928

$

6,085,064

Net interest income

$

72,841

$

62,485

Interest rate spread

3.61

%

3.74

%

Net interest margin(2)

4.20

%

4.45

%

Total cost of deposits, including
non-interest bearing deposits

$

6,104,328

$

31,514

2.05

%

$

5,004,830

$

24,990

1.98

%

Average interest-earning assets to
interest-bearing liabilities

128.29

%

134.69

%

(1)
Average loan balances include non-accrual loans.
(2)
Net interest margin is calculated by dividing annualized net interest income by average interest-earning assets for the period.
(3)
Tax exempt income is not included in the above table on a tax equivalent basis.
(4)
Actual un-rounded values are used to calculate the reported yield or rate disclosed. Accordingly, recalculations using the amounts in thousands as disclosed in this report may not produce the same amounts.

Increases and decreases in interest income and interest expense result from changes in average balances (volume) of interest-earning assets and interest-bearing liabilities, as well as changes in average interest yields/rates. The following table analyzes the change in volume variances and yield/rate variances for the three month periods ended September 30, 2026 from September 30, 2025.

Analysis of Changes in Net Interest Income

For the Three Months Ended September 30, 2026

Increase (Decrease) Due to:

Total
Increase /

(Dollars in thousands)

Volume(1)

Yield/Rate(1)

(Decrease)

Interest-earning assets:

Loans

Commercial and industrial

$

(623

)

$

(1,069

)

$

(1,692

)

Commercial real estate

8,861

(1,790

)

7,071

Real estate construction

4,361

(1,503

)

2,858

Residential real estate

1,609

688

2,297

Agricultural real estate

3,566

(913

)

2,653

Agricultural

2,011

(757

)

1,254

Consumer

(59

)

(16

)

(75

)

Total loans

19,726

(5,360

)

14,366

Taxable securities

4,465

1,694

6,159

Nontaxable securities

(171

)

54

(117

)

Total securities

4,294

1,748

6,042

Federal funds sold and other

(1,919

)

(621

)

(2,540

)

Total interest-earning assets

22,101

(4,233

)

17,868

Interest-bearing liabilities:

Interest-bearing demand deposits

1,321

(627

)

694

Savings and money market

1,700

(137

)

1,563

Demand, savings and money market

3,021

(764

)

2,257

Certificates of deposit

4,755

(488

)

4,267

Total interest-bearing deposits

7,776

(1,252

)

6,524

FHLB term and line of credit advances

928

(113

)

815

Subordinated debt

239

(34

)

205

Other borrowings

5

(37

)

(32

)

Total interest-bearing liabilities

8,948

(1,436

)

7,512

Net Interest Income

$

13,153

$

(2,797

)

$

10,356

(1)
The effect of changes in volume is determined by multiplying the change in volume by the previous year's average rate. Similarly, the effect of rate changes is calculated by multiplying the change in average rate by the prior year's volume. The changes attributable to both volume and rate, which cannot be segregated, have been allocated to the volume variance and the rate variance in proportion to the relationship of the absolute dollar amount of the change in each.

Interest income increased $17.9 million for the quarter ended September 30, 2026, as compared to the quarter ended September 30, 2025. The increase was due to a $22.1 million increase attributable to higher average interest-earning assets, primarily as a result of our acquisitions of Frontier and NBC, partially offset by a $4.2 million decrease attributable to lower yields. Average interest-earning assets increased $1.30 billion, or 23.3%, to $6.87 billion, while the yield on interest-earning assets decreased 19 basis points to 6.29%. The yield on loans decreased 47 basis points to 6.71%, partially offset by $3.6 million of purchase accounting accretion on acquired loans (compared with $2.5 million in the third quarter of 2025). The yield on securities increased 72 basis points to 4.93%, following the repositioning of our investment portfolio that included the sale of lower-yielding securities in 2025 and the reinvestment of proceeds in higher-yielding securities. The yield on federal funds sold and other interest-earning assets decreased 68 basis points to 3.62% on average balances that were $200.7 million lower.

Interest expense increased $7.5 million compared to the quarter ended September 30, 2025, with $8.9 million attributable to higher average balances, partially offset by a $1.4 million decrease attributable to lower rates. Average interest-bearing deposits increased $1.11 billion, or 28.9%, to $4.95 billion, primarily as a result of deposits acquired in the Frontier and NBC

acquisitions. Average certificates of deposit increased $560.2 million, or 58.2%, and accounted for $4.3 million of the increase in interest expense.

Average Federal Home Loan Bank advances increased $94.8 million to $262.8 million, adding $815 thousand of interest expense. The cost of interest-bearing deposits decreased 5 basis points to 2.53%, while the cost of total deposits, including non-interest-bearing deposits, increased 7 basis points to 2.05%, as our funding mix shifted toward higher-cost time deposits, including brokered deposits, and average non-interest-bearing deposits decreased $10.4 million to $1.16 billion. Net interest margin decreased 25 basis points to 4.20% from 4.45% in the third quarter of 2025, and net interest spread decreased 13 basis points to 3.61% from 3.74%, as the 19 basis point decrease in the yield on interest-earning assets exceeded the 6 basis point decrease in the cost of interest-bearing liabilities. Compared with the second quarter of 2026, net interest margin decreased 16 basis points from 4.36% and net interest income decreased $1.0 million, while average interest-earning assets increased $78 million. The sequential decrease was primarily due to higher average borrowings and brokered deposits that funded additional lower-yielding securities (average securities increased $110 million), a 5 basis point decrease in loan coupon yield, and a 7 basis point increase in the cost of total deposits, partially offset by a $0.7 million increase in purchase accounting accretion.

Nine months ended September 30, 2026, compared with nine months ended September 30, 2025: The following table shows the average balance of each principal category of assets, liabilities, and stockholders' equity and the average yields on interest-earning assets and average rates on interest-bearing liabilities for the nine months ended September 30, 2026, and 2025. The yields and rates are calculated by dividing annualized income or annualized expense by the average daily balances of the associated assets or liabilities.

Average Balance Sheets and Net Interest Analysis

For the Nine Months Ended September 30,

2026

2025

(Dollars in thousands)

Average
Outstanding
Balance

Interest
Income/
Expense

Average
Yield/
Rate(3)(4)

Average
Outstanding
Balance

Interest
Income/
Expense

Average
Yield/
Rate(3)(4)

Interest-earning assets:

Loans(1)

Commercial and industrial

$

940,379

$

50,999

7.25

%

$

790,373

$

46,479

7.86

%

Commercial real estate

2,242,045

114,032

6.80

%

1,528,189

81,363

7.12

%

Real estate construction

736,026

38,738

7.04

%

475,225

28,028

7.89

%

Residential real estate

705,504

27,822

5.27

%

569,279

20,437

4.80

%

Agricultural real estate

432,627

23,179

7.16

%

255,618

15,153

7.93

%

Agricultural

246,777

13,378

7.25

%

103,685

6,379

8.23

%

Consumer

109,142

5,168

6.33

%

97,943

4,937

6.74

%

Total loans

5,412,500

273,316

6.75

%

3,820,312

202,776

7.10

%

Taxable securities

1,162,719

44,112

5.07

%

906,804

27,351

4.03

%

Nontaxable securities

22,068

619

3.75

%

50,171

1,042

2.78

%

Total securities

1,184,787

44,731

5.05

%

956,975

28,393

3.97

%

Federal funds sold and other

257,652

6,767

3.51

%

271,854

8,800

4.33

%

Total interest-earning assets

6,854,939

324,814

6.34

%

5,049,141

239,969

6.35

%

Non-interest-earning assets:

Other real estate owned, net

4,814

4,536

Premises and equipment, net

141,493

123,411

Bank-owned life insurance

149,860

137,359

Goodwill, core deposit and other intangibles, net

139,986

80,030

Other non-interest-earning assets

105,424

110,197

Total assets

$

7,396,516

$

5,504,674

Interest-bearing liabilities:

Interest-bearing demand deposits

$

1,457,873

21,614

1.98

%

$

1,105,247

17,742

2.15

%

Savings and money market

1,966,721

32,476

2.21

%

1,521,754

25,410

2.23

%

Demand, savings and money market

3,424,594

54,090

2.11

%

2,627,001

43,152

2.20

%

Certificates of deposit

1,504,619

38,045

3.38

%

816,748

21,305

3.49

%

Total interest-bearing deposits

4,929,213

92,135

2.50

%

3,443,749

64,457

2.50

%

FHLB term and line of credit advances

218,402

6,228

3.81

%

217,150

6,881

4.24

%

Federal Reserve Bank borrowings

11

-

0.00

%

7

-

0.00

%

Bank stock loan

-

4

0.00

%

-

-

0.00

%

Subordinated debt

98,313

5,439

7.40

%

93,280

5,322

7.63

%

Other borrowings

47,217

631

1.79

%

45,560

730

2.14

%

Total interest-bearing liabilities

5,293,156

104,437

2.64

%

3,799,746

77,390

2.72

%

Non-interest-bearing liabilities and
stockholders' equity:

Non-interest-bearing checking accounts

1,206,661

1,003,225

Non-interest-bearing liabilities

62,986

51,856

Stockholders' equity

833,713

649,847

Total liabilities and stockholders' equity

$

7,396,516

$

5,504,674

Net interest income

$

220,377

$

162,579

Interest rate spread

3.70

%

3.63

%

Net interest margin(2)

4.30

%

4.31

%

Total cost of deposits, including non-interest
bearing deposits

$

6,135,874

$

92,135

2.01

%

$

4,446,974

$

64,457

1.94

%

Average interest-earning assets to
interest-bearing liabilities

129.51

%

132.88

%

(1)
Average loan balances include non-accrual loans.
(2)
Net interest margin is calculated by dividing annualized net interest income by average interest-earnings assets for the period.
(3)
Tax exempt income is not included in the above table on a tax equivalent basis.
(4)
Actual un-rounded values are used to calculate the reported yield or rate disclosed. Accordingly, recalculations using the amounts in thousands as disclosed in this report may not produce the same amounts.

Increases and decreases in interest income and interest expense result from changes in average balances (volume) of interest-earning assets and interest-bearing liabilities, as well as changes in average interest yields/rates. The following table analyzes the change in volume variances and yield/rate variances for the nine month periods ended September 30, 2026 from September 30, 2025.

Analysis of Changes in Net Interest Income

For the Nine Months Ended September 30, 2026

Increase (Decrease) Due to:

Total
Increase /

(Dollars in thousands)

Volume(1)

Yield/Rate(1)

(Decrease)

Interest-earning assets:

Loans

Commercial and industrial

$

8,334

$

(3,814

)

$

4,520

Commercial real estate

36,456

(3,787

)

32,669

Real estate construction

13,998

(3,288

)

10,710

Residential real estate

5,232

2,153

7,385

Agricultural real estate

9,607

(1,581

)

8,026

Agricultural

7,840

(841

)

6,999

Consumer

542

(311

)

231

Total loans

82,009

(11,469

)

70,540

Taxable securities

8,759

8,002

16,761

Nontaxable securities

(709

)

286

(423

)

Total securities

8,050

8,288

16,338

Federal funds sold and other

(441

)

(1,592

)

(2,033

)

Total interest-earning assets

89,618

(4,773

)

84,845

Interest-bearing liabilities:

Interest-bearing demand deposits

5,312

(1,440

)

3,872

Savings and money market

7,351

(285

)

7,066

Demand, savings and money market

12,663

(1,725

)

10,938

Certificates of deposit

17,412

(672

)

16,740

Total interest-bearing deposits

30,075

(2,397

)

27,678

FHLB term and line of credit advances

40

(693

)

(653

)

Federal Reserve Bank borrowings

-

-

-

Bank stock loan

4

-

-

4

Subordinated debt

281

(164

)

117

Other borrowings

26

(125

)

(99

)

Total interest-bearing liabilities

30,426

(3,379

)

27,047

Net Interest Income

$

59,192

$

(1,394

)

$

57,798

Interest income increased $84.8 million for the nine months ended September 30, 2026, as compared to the nine months ended September 30, 2025. The increase was due to a $89.6 million increase attributable to higher average interest-earning assets, which increased $1.81 billion, or 35.8%, to $6.85 billion, primarily as a result of our acquisitions of Frontier and NBC, partially offset by a $4.8 million decrease attributable to lower yields, principally on loans. The yield on loans decreased 35 basis points to 6.75% and the yield on securities increased 108 basis points to 5.05%, resulting in a yield on total interest-earning assets of 6.34% compared with 6.35%.

Interest expense increased $27.0 million, with $30.4 million attributable to higher average interest-bearing liabilities (up $1.49 billion, or 39.3%, to $5.29 billion), primarily as a result of our acquisitions of Frontier and NBC, partially offset by a $3.4 million decrease attributable to lower rates. Average certificates of deposit increased $687.9 million and accounted for $16.7 million of the increase. The cost of interest-bearing deposits was unchanged at 2.50%, and the cost of total deposits, including non-interest-bearing deposits, increased 7 basis points to 2.01%.

During the nine months ended September 30, 2026 when compared to the nine months ended September 30, 2025, net interest margin decreased 1 basis point to 4.30 % from 4.31% and net interest spread increased 7 basis points to 3.70% from 3.63%. The stability of the margin reflects higher securities yields offsetting lower loan yields and a higher cost of total deposits.

Provision for Credit Losses

We maintain an allowance for credit losses for estimated losses in our loan portfolio. The allowance for credit losses is increased by a provision for credit losses, which is a charge to earnings, and subsequent recoveries of amounts previously charged-off, but is decreased by charge-offs when the collectability of a loan balance is unlikely. Management estimates the allowance balance required using past loan loss experience within our portfolio. This historical loss calculation is then modified to reflect quantitative economic circumstances based on evidenced economic conditions and regression formulas, which incorporate lag factors in identifying a sufficiently predictive adjusted-R square, as well as qualitative factors not inherently reflected in our historical loss or quantitative economic inputs. Included in our qualitative assessment is the consideration of prospective economic conditions over the next 12 months, which is what we consider as our reasonable and supportable forecast period. As these factors change, the amount of the credit loss provision changes.

Three months ended September 30, 2026, compared with three months ended September 30, 2025: During the three months ended September 30, 2026, there was a provision for credit losses of $1.7 million compared to a provision for credit losses of $6.2 million for the three months ended September 30, 2025. We continue to estimate the allowance for credit losses with assumptions that anticipate slower prepayment rates and continued market disruption caused by the impact of U.S. trade and fiscal policy and the resulting impact on consumers and businesses. Net charge-offs for the three months ended September 30, 2026 and 2025, were $2.1 million and $1.1 million, respectively. Net charge-offs in the third quarter of 2026 were primarily in commercial and industrial loans ($1.8 million). The allowance for credit losses decreased $435 thousand during the quarter to $64.0 million because the provision was less than net charge-offs. For the three months ended September 30, 2026, gross charge-offs were $2.4 million, offset by gross recoveries of $258 thousand. In comparison, gross charge-offs were $1.4 million for the three months ended September 30, 2025, offset by gross recoveries of $330 thousand.

Nine months ended September 30, 2026, compared with nine months ended September 30, 2025: During the nine months ended September 30, 2026, there was a provision for credit losses of $8.9 million compared to a provision for credit losses of $9.0 million for the nine months ended September 30, 2025. We continue to estimate the allowance for credit losses with assumptions that anticipate slower prepayment rates and continued market disruption caused by the impact of U.S. trade and fiscal policy and the resulting impact on consumers and businesses. Net charge-offs for the nine months ended September 30, 2026 and 2025, were $5.1 million and $1.8 million, respectively. For the nine months ended September 30, 2026, gross charge-offs were $7.4 million, offset by gross recoveries of $2.3 million. In comparison, gross charge-offs were $3.7 million for the nine months ended September 30, 2025, offset by gross recoveries of $1.8 million. The allowance for credit losses increased $11.2 million from December 31, 2025, reflecting the $8.9 million provision and the allowance established on purchased-credit-deteriorated and purchased seasoned loans acquired in the Frontier acquisition, partially offset by net charge-offs of $5.1 million.

Non-Interest Income

The primary sources of non-interest income are service charges and fees, debit card income, mortgage banking income, trust income and increases in the value of bank-owned life insurance. Non-interest income does not include loan origination or other loan fees, which are recognized as an adjustment to yield using the interest method.

Three months ended September 30, 2026, compared with three months ended September 30, 2025: The following table provides a comparison of the major components of non-interest income for the three months ended September 30, 2026, and 2025.

Non-Interest Income

For the Three Months Ended September 30,

2026 vs. 2025

(Dollars in thousands)

2026

2025

Change

%

Service charges and fees

$

2,517

$

2,522

$

(5

)

(0.2

)%

Debit card income

3,442

2,953

489

16.6

%

Mortgage banking

544

62

482

777.4

%

Increase in value of bank-owned life insurance

1,370

1,393

(23

)

(1.7

)%

Other

Investment referral income

156

175

(19

)

(10.9

)%

Trust income

608

504

104

20.6

%

Insurance sales commissions

210

181

29

16.0

%

Recovery on zero-basis purchased loans

1

2

(1

)

(50.0

)%

Other non-interest income

2,046

1,081

965

89.3

%

Total other

3,021

1,943

1,078

55.5

%

Subtotal

10,894

8,873

2,021

22.8

%

Net gain (loss) from securities transactions

10

(53,352

)

53,362

(100.0

)%

Total non-interest income

$

10,904

$

(44,479

)

$

55,383

(124.5

)%

Total non-interest income increased $55.4 million during the three months ended September 30, 2026, as compared to the same period in 2025. The increase is due to a $53.4 million net loss on securities transactions in the third quarter of 2025, resulting from the sale of securities in connection with the repositioning of our investment portfolio, compared with a net gain of $10 thousand in the third quarter of 2026.

Nine months ended September 30, 2026, compared with nine months ended September 30, 2025: The following table provides a comparison of the major components of non-interest income for the nine months ended September 30, 2026, and 2025.

Non-Interest Income

For the Nine Months Ended September 30,

2026 vs. 2025

(Dollars in thousands)

2026

2025

Change

%

Service charges and fees

$

7,424

$

6,763

$

661

9.8

%

Debit card income

9,950

8,509

1,441

16.9

%

Mortgage banking

1,481

380

1,101

289.7

%

Increase in value of bank-owned life insurance

4,391

6,307

(1,916

)

(30.4

)%

Other

Investment referral income

480

524

(44

)

(8.4

)%

Trust income

1,724

1,427

297

20.8

%

Insurance sales commissions

520

386

134

34.7

%

Recovery on zero-basis purchased loans

218

6

212

3533.3

%

Other non-interest income

3,572

3,466

106

3.1

%

Total other

6,514

5,809

705

12.1

%

Subtotal

29,760

27,768

1,992

7.2

%

Net gain (loss) from securities transactions

(1,311

)

(53,328

)

52,017

(97.5

)%

Total non-interest income

$

28,449

$

(25,560

)

$

54,009

(211.3

)%

Total non-interest income increased $54.0 million during the nine months ended September 30, 2026, as compared to the same period in 2025. The increase is due to losses on security transactions realized during the nine months ended September 30, 2025, that did not recur in the nine months ended September 30, 2026, causing a decrease in net loss on securities of $52.0 million (the nine months ended September 30, 2026 included a $1.3 million net loss on securities transactions, including impairment losses on a fund investment), along with increases in debit card income of $1.4 million and mortgage banking of $1.1 million, partially offset by a decrease in value of bank owned life insurance of $1.9 million.

Non-Interest Expense

Three months ended September 30, 2026, compared with three months ended September 30, 2025: For the three months ended September 30, 2026, non-interest expense totaled $48.1 million, a decrease of $968 thousand, comprised of a $5.2 million decrease in merger expenses, partially offset by a $4.2 million increase in all other non-interest expense, when compared to the three months ended September 30, 2025. Changes in the various components of non-interest expense for the three months ended September 30, 2026, and 2025, are discussed in more detail in the following table.

Non-Interest Expense

For the Three Months Ended September 30,

2026 vs. 2025

(Dollars in thousands)

2026

2025

Change

%

Salaries and employee benefits

$

24,034

$

22,773

$

1,261

5.5

%

Net occupancy and equipment

4,979

4,317

662

15.3

%

Data processing

5,466

4,887

579

11.8

%

Professional fees

1,712

1,670

42

2.5

%

Advertising and business development

1,470

1,305

165

12.6

%

Telecommunications

646

630

16

2.5

%

FDIC insurance

675

653

22

3.4

%

Courier and postage

530

744

(214

)

(28.8

)%

Free nationwide ATM cost

604

582

22

3.8

%

Amortization of core deposit intangible

1,812

1,182

630

53.3

%

Loan expense

165

330

(165

)

(50.0

)%

Other real estate owned

374

797

(423

)

(53.1

)%

Loss on debt extinguishment

-

-

-

-

%

Other

4,680

3,049

1,631

53.5

%

Subtotal

47,147

42,919

4,228

9.9

%

Merger expenses

967

6,163

(5,196

)

(84.3

)%

Total non-interest expense

$

48,114

$

49,082

$

(968

)

(2.0

)%

Salaries and employee benefits: There was an increase in salaries and employee benefits of $1.3 million for the period ended September 30, 2026, as compared to the same period in 2025. The increase in employee salaries and wages was due to additional payroll costs as well as an increase in employee insurance expense, which is primarily driven by the increase in staff from the NBC and Frontier acquisitions.

Net occupancy and equipment: There was an increase in net occupancy and equipment of $662 thousand for the period ended September 30, 2026, as compared to the same period in 2025. The increase was primarily related to Frontier lease amortization, rent and depreciation

Amortization of core deposit intangible: There was an increase in amortization of core deposit intangible of $630 thousand for the period ended September 30, 2026, as compared to the same period in 2025. The increase was driven by the NBC and Frontier mergers.

Other: Other non-interest expenses consists of subscriptions, memberships and dues, employee expenses, including travel, meals, entertainment and education, supplies, printing, insurance, account related losses, correspondent bank fees, customer program expenses, losses net of gains on the sale of fixed assets, losses net of gains on the sale of repossessed assets other than real estate, other operating expenses, such as settlement of claims, losses from limited partnerships entered into for tax credits and provision for unfunded commitments. The overall increase is comprised of a number of insignificant changes within expense categories noted above.

Nine months ended September 30, 2026, compared with nine months ended September 30, 2025: For the nine months ended September 30, 2026, non-interest expense totaled $150.0 million, an increase of $21.8 million, when compared to the nine months ended September 30, 2025. Changes in the various components of non-interest expense for the nine months ended September 30, 2026, and 2025, are discussed in more detail in the following table.

Non-Interest Expense

For the Nine Months Ended September 30,

2026 vs. 2025

(Dollars in thousands)

2026

2025

Change

%

Salaries and employee benefits

$

74,883

$

62,462

$

12,421

19.9

%

Net occupancy and equipment

14,392

11,474

2,918

25.4

%

Data processing

16,044

15,028

1,016

6.8

%

Professional fees

4,880

4,558

322

7.1

%

Advertising and business development

4,683

3,857

826

21.4

%

Telecommunications

1,940

1,805

135

7.5

%

FDIC insurance

2,605

1,747

858

49.1

%

Courier and postage

1,693

2,377

(684

)

(28.8

)%

Free nationwide ATM cost

1,765

1,642

123

7.5

%

Amortization of core deposit intangibles

5,980

3,243

2,737

84.4

%

Loan expense

1,209

740

469

63.4

%

Other real estate owned

500

1,001

(501

)

(50.0

)%

Loss on debt extinguishment

-

1,361

(1,361

)

(100.0

)%

Other

12,569

10,254

2,315

22.6

%

Sub-Total

143,143

121,549

21,594

17.8

%

Merger expenses

6,825

6,584

241

3.7

%

Total non-interest expense

$

149,968

$

128,133

$

21,835

17.0

%

Salaries and employee benefits: There was an increase in salaries and employee benefits of $12.4 million for the period ended September 30, 2026, as compared to the same period in 2025. The increase in employee salaries and wages was due to additional payroll costs as well as an increase in employee insurance expense, which is primarily driven by the increase in staff from the Frontier merger.

Net occupancy and equipment: There was an increase in net occupancy and equipment of $2.9 million for the period ended September 30, 2026, as compared to the same period in 2025. The increase was primarily related to Frontier lease amortization, rent and depreciation.

Amortization of core deposit intangible: There was an increase in amortization of core deposit intangible of $2.7 million for the period ended September 30, 2026, as compared to the same period in 2025. The increase was driven by the NBC and Frontier mergers.

Other: Other non-interest expenses consists of subscriptions, memberships and dues, employee expenses, including travel, meals, entertainment and education, supplies, printing, insurance, account related losses, correspondent bank fees, customer program expenses, losses net of gains on the sale of fixed assets, losses net of gains on the sale of repossessed assets other than real estate, other operating expenses, such as settlement of claims, losses from limited partnerships entered into for tax credits and provision for unfunded commitments. The overall increase is comprised primarily of provision expenses on funded commitments offset by a gain on the sale of fixed assets and a number of individually insignificant changes within expense categories noted above.

Efficiency Ratio

The efficiency ratio is a supplemental financial measure utilized in the internal evaluation of performance and is not defined under GAAP. For a reconciliation of non-GAAP financial measures see "Non-GAAP Financial Measures" in this Item 2. The calculation of our efficiency ratio is described under "Non-GAAP Financial Measures" in this Item 2. Generally, an increase in the efficiency ratio indicates that more resources are being utilized to generate the same volume of income, while a decrease would indicate a more efficient allocation of resources.

The efficiency ratio was 53.99% for the three months ended September 30, 2026, compared with 58.31% for the three months ended September 30, 2025. The positive trend was driven by realization of positive operating leverage through our mergers with NBC and Frontier as earnings grew at a faster pace than the expenses required to produce them.

Income Taxes

In general, we record income tax expense each quarter based on our estimate of the full year's effective tax rate which includes, in addition to statutory rates, estimated amounts for tax-exempt interest income, non-taxable life insurance income, non-deductible executive compensation, valuation allowance on deferred assets, other non-deductible expense, and federal and state income tax credits anticipated to be available in proportion to anticipated annual income before income taxes. Certain items, however, are given discrete period treatment and the tax effects for such items are therefore reported in the quarter that an event arises. Events or items that may give rise to discrete recognition include excess tax benefits or shortfalls with respect to share-based compensation and changes in tax law.

During the tax year ended December 31, 2024, a Corporate Application for Tentative Refund was filed to carry back excess general business credits from 2023 to the 2020, 2021 and 2022 tax years resulting in a refund of $14.9 million which was received in the second quarter of 2025. Pursuant to Section 6405 of the Internal Revenue Code, refunds in excess of $5 million to a corporate taxpayer are subject to review by the Joint Committee on Taxation (JCT). On October 7, 2026, the IRS accepted the tax returns as adjusted for the tentative refund allowances and submitted its conclusions to the JCT for review. On October 26, 2026, the JCT completed its consideration of the IRS's report and concurred with the IRS's conclusions. While tax years ending December 31, 2020 and 2021, are closed for audit purposes, tax year ending December 31, 2022, remains open and, under request from the IRS, the statute of limitation has been extended to October 31, 2027.

On July 4, 2025, the United States enacted tax reform legislation through the One Big Beautiful Bill Act, which changes existing U.S. tax laws, including extending or making permanent certain provisions of the Tax Cuts and Jobs Act, repealing certain clean energy initiatives, in addition to other changes. While we are still evaluating the tax provisions effective in 2026, we do not expect them to have a material effect on our financial statements.

Three months ended September 30, 2026, compared with three months ended September 30, 2025: The effective income tax rate for the three-month period ended September 30, 2026 was 21.2%, compared with 20.5% for the three-month period ended September 30, 2025. In the prior quarter, we reported a pre-tax loss and income tax benefit associated with the loss on the sale of debt securities resulting in a positive effective tax rate (indicating tax benefit with pre-tax loss). In the current quarter, we reported pre-tax income and income tax expense resulting in a positive effective tax rate (indicating tax expense with pre-tax income). The comparison of the effective tax rate between the current and prior quarter is not meaningful due to the change from a pre-tax loss in the prior quarter to pre-tax income in the current quarter.

Nine months ended September 30, 2026, compared with nine months ended September 30, 2025: The effective income tax rate for the nine month period ended September 30, 2026, was 22.0% as compared to 873.5% for the nine month period ended September 30, 2025. See drivers of change in the section above.

Financial Condition

Total assets increased $1.22 billion from December 31, 2025, to $7.59 billion at September 30, 2026. This increase was primarily due to an increase in loans held for investment of $1.25 billion and available-for-sale securities of $209.8 million, partially offset by a decrease in cash and cash equivalents of $269.5 million. Total liabilities increased $1.13 billion to $6.78 billion at September 30, 2026. The change in total liabilities is primarily due to increase in total deposits of $1.03 billion and an increase in FHLB borrowings of $89.1 million. Total stockholders' equity increased $83.9 million from $732.1 million at December 31, 2025, to $816.0 million at September 30, 2026, principally due to a $104.6 million increase in additional paid-in capital, primarily from common stock issued in the Frontier acquisition, and a $58.1 million increase in retained earnings, partially offset by a $46.2 million decrease in accumulated other comprehensive income (loss) from unrealized losses on available-for-sale securities and a $32.6 million increase in treasury stock. Total assets decreased $134.5 million from June 30, 2026, as a $208.3 million decrease in cash and cash equivalents, reflecting the $136.4 million decrease in total deposits, was partially offset by increases in loans held for investment of $39.2 million and available-for-sale securities of $10.7 million.

Loan Portfolio

The following table summarizes our loan portfolio by type of loan as of the dates indicated.

Composition of Loan Portfolio

September 30,
2026

December 31,
2025

Amount

Percent

Amount

Percent

Change

%

(Dollars in thousands)

Commercial and industrial

$

953,875

17.5

%

$

816,885

19.5

%

$

136,990

16.8

%

Real estate loans:

Commercial real estate

2,997,362

55.0

%

2,226,348

53.0

%

771,014

34.6

%

Residential real estate

695,861

12.8

%

582,145

13.9

%

113,716

19.5

%

Agricultural real estate

443,966

8.2

%

278,927

6.6

%

165,039

59.2

%

Total real estate loans

4,137,189

76.0

%

3,087,420

73.5

%

1,049,769

34.0

%

Agricultural

249,233

4.6

%

188,475

4.5

%

60,758

32.2

%

Consumer

104,585

1.9

%

105,400

2.5

%

(815

)

(0.8

)%

Total loans held for investment

$

5,444,882

100.0

%

$

4,198,180

100.0

%

$

1,246,702

29.7

%

Total loans held for sale

$

2,425

100.0

%

$

1,392

100.0

%

$

1,033

74.2

%

Total loans held for investment (net of allowances)

$

5,380,904

100.0

%

$

4,145,424

100.0

%

$

1,235,480

29.8

%

Our commercial loan portfolio consists of various types of loans, most of which are generally made to borrowers located in the Wichita, Kansas City, Omaha, and Tulsa Metropolitan Statistical Areas ("MSAs"), as well as various community markets throughout Arkansas, Iowa, Kansas, Missouri, Nebraska and Oklahoma. The majority of our portfolio consists of commercial and industrial and commercial real estate loans, and a substantial portion of our borrowers' ability to honor their obligations is dependent on local economies in which they operate.

At September 30, 2026, gross total loans, including loans held for sale, were 88.3% of deposits and 71.8% of total assets. At December 31, 2025, gross total loans, including loans held for sale, were 81.7% of deposits and 65.9% of total assets.

We provide commercial lines of credit, working capital loans, commercial real estate loans (including loans secured by owner-occupied commercial properties), term loans, equipment financing, aircraft financing, real property acquisition and development loans, borrowing base loans, real estate construction loans, homebuilder loans, SBA loans, agricultural and agricultural real estate loans, letters of credit and other loan products to national and regional companies, real estate developers, mortgage lenders, manufacturing and industrial companies and other businesses. The types of loans we make to consumers include residential real estate loans, home equity loans, home equity lines of credit, installment loans, unsecured and secured personal lines of credit, overdraft protection, and letters of credit.

Commercial and industrial: Commercial and industrial loans include loans used to purchase fixed assets, to provide working capital or meet other financing needs of the business.

Commercial real estate: Commercial real estate loans include all loans secured by non-farm nonresidential properties and multifamily residential properties, as well as 1-4 family investment-purpose real estate loans.

Residential real estate: Residential real estate loans include loans secured by primary or secondary personal residences. Pools of mortgages are occasionally purchased to expand our loan portfolio and provide additional loan income.

Agricultural real estate, Agricultural, Consumer and other: Agricultural real estate loans are loans related to farmland. Agricultural loans are primarily operating lines subject to annual farming revenues including productivity/yield of the agricultural commodities produced. Consumer loans are generally secured by consumer assets but may be unsecured.

The contractual maturity ranges of loans in our loan portfolio and the amount of such loans with predetermined interest rates and floating rates in each maturity range as of September 30, 2026, are summarized in the following table.

Loan Maturity and Sensitivity to Changes in Interest Rates

As of September 30, 2026

One year
or less

After one year
through five
years

After five
years through fifteen years

After fifteen years

Total

(Dollars in thousands)

Commercial and industrial

$

371,222

$

391,132

$

99,025

$

92,496

$

953,875

Real Estate:

Commercial real estate

789,356

1,664,245

404,124

139,637

2,997,362

Residential real estate

43,717

67,173

98,942

486,029

695,861

Agricultural real estate

133,159

187,095

62,728

60,984

443,966

Total real estate

966,232

1,918,513

565,794

686,650

4,137,189

Agricultural

168,249

61,124

8,051

11,809

249,233

Consumer

48,667

46,253

6,845

2,820

104,585

Total

$

1,554,370

$

2,417,022

$

679,715

$

793,775

$

5,444,882

Loans with a predetermined fixed interest rate

$

601,152

$

1,012,604

$

131,568

$

278,082

$

2,023,406

Loans with an adjustable/floating interest rate

953,218

1,404,418

548,147

515,693

3,421,476

Total

$

1,554,370

$

2,417,022

$

679,715

$

793,775

$

5,444,882

The contractual maturity ranges of loans in our loan portfolio and the amount of such loans with predetermined interest rates and floating rates in each maturity range as of December 31, 2025, are summarized in the following table.

Loan Maturity and Sensitivity to Changes in Interest Rates

As of December 31, 2025

One year
or less

After one year
through five
years

After five
years through fifteen years

After fifteen years

Total

(Dollars in thousands)

Commercial and industrial

$

289,631

$

350,270

$

112,600

$

64,384

$

816,885

Real Estate:

Commercial real estate

531,763

1,268,127

325,353

101,105

2,226,348

Residential real estate

5,267

11,996

111,555

453,327

582,145

Agricultural real estate

74,354

131,536

36,836

36,201

278,927

Total real estate

611,384

1,411,659

473,744

590,633

3,087,420

Agricultural

133,092

38,040

5,663

11,680

188,475

Consumer

52,119

44,205

7,021

2,055

105,400

Total

$

1,086,226

$

1,844,174

$

599,028

$

668,752

$

4,198,180

Loans with a predetermined fixed interest rate

$

412,708

$

653,731

$

109,432

$

269,857

$

1,445,728

Loans with an adjustable/floating interest rate

673,518

1,190,443

489,596

398,895

2,752,452

Total

$

1,086,226

$

1,844,174

$

599,028

$

668,752

$

4,198,180

Credit Quality Indicators

We categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information, current economic trends, and other factors. Loans are analyzed individually and classified based on credit risk. Consumer loans are considered pass credits unless downgraded due to payment status or reviewed as part of a larger credit relationship.

For additional information, see "NOTE 3 - LOANS AND ALLOWANCE FOR CREDIT LOSSES" in the Condensed Notes to Interim Consolidated Financial Statements.

Nonperforming Assets

The following table presents information regarding nonperforming assets at the dates indicated.

Nonperforming Assets

September 30,
2026

December 31,
2025

(Dollars in thousands)

Non-accrual loans

$

68,970

$

40,276

Accruing loans 90 or more days past due

2,465

2,610

OREO acquired through foreclosure, net

3,537

3,246

Other repossessed assets

421

578

Total nonperforming assets

$

75,393

$

46,710

Ratios:

Nonperforming assets to total assets

0.99

%

0.73

%

Nonperforming assets to total loans plus OREO and repossessed assets

1.38

%

1.11

%

Generally, loans are designated as non-accrual when either principal or interest payments are 90 days or more past due based on contractual terms, unless the loan is well secured and in the process of collection. Consumer loans are typically charged off no later than 180 days past due. In all cases, loans are placed on non-accrual, or charged off, at an earlier date if collection of principal or interest is considered doubtful. When a loan is placed on non-accrual status, unpaid interest credited to income earned in the current year is reversed against income and unpaid interest earned in prior years is charged off. Future interest income may be recorded on a cash basis after recovery of principal is reasonably assured. Non-accrual loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

The nonperforming loans at September 30, 2026, consisted of 405 separate credits and 310 separate borrowers. We had 10 nonperforming loan relationships, totaling $31.3 million, with an outstanding balance in excess of $1.0 million as of September 30, 2026.

There are several procedures in place to assist us in maintaining the overall quality of our loan portfolio. We have established underwriting guidelines to be followed by lenders and we also monitor delinquency levels for any negative or adverse trends. In accordance with applicable regulation, appraisals or evaluations are required to independently value real estate and are an important element to consider when underwriting loans secured in part or in whole by real estate. The value of real estate collateral provides additional support to the borrower's credit capacity. There can be no assurance, however, that our loan portfolio will not become subject to increasing pressures from deteriorating borrower credit due to general economic conditions.

Potential Problem Loans

Potential problem loans consist of loans that are performing in accordance with contractual terms, but for which management has concerns about the borrower's ability to comply with repayment terms because of the borrower's potential financial difficulties. Potential problem loans are assigned a grade of special mention or substandard. At September 30, 2026, loans graded special mention or substandard totaled $85.7 million, of which $71.4 million were included in non-accrual loans or accruing loans 90 days or more past due. Accordingly, we had $14.3 million in potential problem loans at September 30, 2026, compared to $36.7 million at December 31, 2025.

With respect to potential problem loans, all monitored and under-performing loans are reviewed and evaluated to determine if they should be individually evaluated for credit losses. If we determine that a loan should be individually evaluated, then we evaluate the borrower's overall financial condition to determine the need, if any, for possible write downs or appropriate additions to the allowance for credit losses based on the unlikelihood of full repayment of principal and interest in accordance with the contractual terms or the net realizable value of the pledged collateral. At September 30, 2026 and December 31, 2025, loans

individually evaluated for credit losses totaled $93.0 million and $52.3 million with a total allowance for credit losses of $10.1 million and $6.5 million.

Allowance for Credit Losses

Please see "Critical Accounting Estimates - Allowance for Credit Losses" for additional discussion of our allowance policy. For additional information, see "NOTE 3 - LOANS AND ALLOWANCE FOR CREDIT LOSSES" in the Condensed Notes to Interim Consolidated Financial Statements.

In connection with our review of the loan portfolio, risk elements attributable to particular loan types or categories are considered when assessing the quality of individual loans. Some of the risk elements include the following items.

•
Commercial and industrial loans are dependent on the strength of the industries of the related borrowers and the success of their businesses. Commercial and industrial loans are advanced for equipment purchases, to provide working capital, or to meet other financing needs of the business. These loans may be secured by accounts receivable, inventory, equipment, or other business assets. Financial information is obtained from the borrower to evaluate the debt service coverage and ability to repay the loans.
•
Commercial real estate loans are dependent on the industries tied to these loans as well as the local commercial real estate market. The loans are secured by real estate, and appraisals are obtained to support the loan amount. An evaluation of the project's cash flows is performed to evaluate the borrower's ability to repay the loan at the time of origination and is periodically updated during the life of the loan.
•
Residential real estate loans are affected by the local residential real estate market, the local economy, and movement in interest rates. We evaluate the borrower's repayment ability through a review of credit reports and debt to income ratios. Appraisals are obtained to support the loan amount.
•
Agricultural real estate loans are real estate loans related to farmland and are affected by the value of farmland. We evaluate the borrower's ability to repay based on cash flows from farming operations.
•
Agricultural loans are primarily operating lines subject to annual farming revenues including productivity/yield of the agricultural commodities produced and market pricing at the time of sale.
•
Consumer loans are dependent on the local economy. Consumer loans are generally secured by consumer assets but may be unsecured. We evaluate the borrower's repayment ability through a review of credit scores and an evaluation of debt-to-income ratios.

The following table presents, as of and for the periods indicated, an analysis of the allowance for credit losses and other related data.

Allowance for Credit Losses

For the Quarters Ended,

(Dollars in thousands)

September 30, 2026

Commercial Real Estate

Commercial and Industrial

Residential Real Estate

Agricultural Real Estate

Agricultural

Consumer

Total

Allowance for credit losses (ACL)

$

23,774

$

22,796

$

7,642

$

7,587

$

490

$

1,689

$

63,978

Total loans outstanding (1)

2,997,362

953,875

695,861

443,966

249,233

104,585

5,444,882

Net (charge-offs) recoveries QTD

6

(1,844

)

8

1

-

(263

)

(2,092

)

Net (charge-offs) recoveries YTD

67

(4,667

)

(18

)

169

(7

)

(675

)

(5,131

)

Average loan balance QTD (1)

3,005,472

902,095

696,715

439,616

239,629

105,527

5,389,054

Average loan balance YTD (1)

2,978,071

940,379

701,139

432,627

246,777

109,142

5,408,135

Non-accrual loan balance

20,866

35,167

6,175

3,367

2,576

819

68,970

Loans to total loans outstanding

55.0

%

17.5

%

12.8

%

8.2

%

4.6

%

1.9

%

100.0

%

ACL to total loans

0.8

%

2.4

%

1.1

%

1.7

%

0.2

%

1.6

%

1.2

%

Net charge-offs to average loans QTD

-

%

(0.2

)%

-

%

-

%

-

%

(0.2

)%

-

%

Net charge-offs to average loans YTD

-

%

(0.5

)%

-

%

-

%

-

%

(0.6

)%

(0.1

)%

Non-accrual loans to total loans

0.7

%

3.7

%

0.9

%

0.8

%

1.0

%

0.8

%

1.3

%

ACL to non-accrual loans

113.9

%

64.8

%

123.8

%

225.3

%

19.0

%

206.2

%

92.8

%

September 30, 2025

Commercial Real Estate

Commercial and Industrial

Residential Real Estate

Agricultural Real Estate

Agricultural

Consumer

Total

Allowance for credit losses (ACL)

$

21,454

$

14,953

$

9,031

$

5,433

$

719

$

1,879

$

53,469

Total loans outstanding (1)

2,216,180

907,439

590,598

272,087

174,517

107,766

4,268,587

Net (charge-offs) recoveries QTD

(220

)

(607

)

(14

)

(18

)

10

(255

)

(1,104

)

Net (charge-offs) recoveries YTD

264

(981

)

(119

)

29

(41

)

(994

)

(1,842

)

Average loan balance QTD (1)

2,251,059

934,768

574,797

245,017

132,095

109,058

4,246,794

Average loan balance YTD (1)

2,003,415

790,373

568,622

255,618

103,685

97,943

3,819,656

Non-accrual loan balance

16,689

21,822

4,109

3,355

1,829

770

48,574

Loans to total loans outstanding

51.9

%

21.3

%

13.8

%

6.4

%

4.1

%

2.5

%

100.0

%

ACL to total loans

1.0

%

1.6

%

1.5

%

2.0

%

0.4

%

1.7

%

1.3

%

Net charge-offs to average loans QTD

-

%

(0.1

)%

-

%

-

%

-

%

(0.2

)%

-

%

Net charge-offs to average loans YTD

-

%

(0.1

)%

-

%

-

%

-

%

(1.0

)%

-

%

Non-accrual loans to total loans

0.8

%

2.4

%

0.7

%

1.2

%

1.0

%

0.7

%

1.1

%

ACL to non-accrual loans

128.6

%

68.5

%

219.8

%

161.9

%

39.3

%

244.0

%

110.1

%

(1)
Excluding loans held for sale.

Management believes that the allowance for credit losses at September 30, 2026, was adequate to cover current expected credit losses in the loan portfolio as of such date. There can be no assurance, however, that we will not sustain losses in future periods, which could be substantial in relation to the size of the allowance at September 30, 2026.

The allowance for credit losses on loans measured on a collective basis totaled $53.9 million, or 1.0% of the $5.35 billion in loans measured on a collective basis at September 30, 2026, compared to an allowance for credit losses of $46.2 million, or 1.1%, of the $4.1 billion in loans measured on a collective basis at December 31, 2025. The total reserve percentage to total loans was 1.2% at September 30, 2026, and 1.3% at December 31, 2025.

Securities

We use our securities portfolio to provide a source of liquidity, to provide an appropriate return on funds invested, to manage interest rate risk, to meet pledging requirements and to meet regulatory capital requirements. At September 30, 2026, securities represented 16.4% of total assets, increasing from 16.3% at December 31, 2025.

At the date of purchase, debt securities are classified into one of two categories: held-to-maturity or available-for-sale. We do not purchase securities for trading purposes. At each reporting date, the appropriateness of the classification is reassessed. Investments in debt securities that are classified as held-to-maturity are carried at cost, and adjusted for the amortization of premiums and the accretion of discounts, only if management has the positive intent and ability to hold those securities to maturity. Debt securities that are not classified as held-to-maturity are classified as available-for-sale and are measured at fair value in the financial statements with unrealized gains and losses reported, net of tax, as accumulated comprehensive income or loss until realized. Interest earned on securities is included in total interest and dividend income. Also included in total interest and dividend income are dividends received on stock investments in the Federal Reserve Bank of Kansas City and the FHLB of Topeka. These stock investments are stated at cost.

The following table summarizes the amortized cost and fair value by classification of available-for-sale securities as of the dates shown.

Available-For-Sale Securities

September 30, 2026

December 31, 2025

Amortized
Cost

Fair
Value

Amortized
Cost

Fair
Value

(Dollars in thousands)

U.S. Government-sponsored entities

$

19,281

$

19,188

$

25,960

$

26,298

U.S. Treasury securities

41,491

41,477

35,134

35,250

Mortgage-backed securities

Government-sponsored residential mortgage-backed securities

1,025,144

977,533

763,827

772,145

Private label residential mortgage-backed securities

3,958

3,910

4,441

4,326

Corporate

101,354

99,090

92,142

91,798

Small Business Administration loan pools

80,284

78,747

80,199

80,205

State and political subdivisions

21,959

20,449

20,767

20,546

Total available-for-sale securities

$

1,293,471

$

1,240,394

$

1,022,470

$

1,030,568

The following table summarizes the amortized cost and fair value by classification of Held-to-Maturity securities as of the dates shown.

Held-To-Maturity Securities

September 30, 2026

December 31, 2025

Amortized
Cost

Fair
Value

Amortized
Cost

Fair
Value

(Dollars in thousands)

Mortgage-backed securities

Government-sponsored residential mortgage-backed securities

$

3,889

$

3,756

$

3,967

$

4,098

State and political subdivisions

1,278

1,191

1,281

1,311

Total held-to-maturity securities

$

5,167

$

4,947

$

5,248

$

5,409

At September 30, 2026, and December 31, 2025, we did not own securities of any one issuer (other than the U.S. government and its agencies or sponsored entities) for which aggregate par value exceeded 10% of consolidated stockholders' equity at the reporting dates noted.

The following tables summarize the contractual maturity of debt securities and their weighted average yields as of September 30, 2026, and December 31, 2025. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations, with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Available-for-sale securities are shown at fair value and held-to-maturity securities are shown at cost, adjusted for the amortization of premiums and the accretion of discounts.

September 30, 2026

Due in one year
or less

Due after one
year through
five years

Due after five
years through
10 years

Due after 10
years

Total

Carrying
Value

Yield

Carrying
Value

Yield

Carrying
Value

Yield

Carrying
Value

Yield

Carrying
Value

Yield

(Dollars in thousands)

Available-for-sale securities:

U.S. Government-sponsored entities

$

10,595

4.36

%

$

8,593

4.52

%

$

-

-

%

$

-

-

%

$

19,188

4.43

%

U.S. Treasury securities

40,712

3.85

%

765

4.56

%

-

-

%

-

-

%

41,477

3.87

%

Mortgage-backed securities

Government-sponsored
residential mortgage-
backed securities

-

-

%

$

54,651

4.90

%

$

22,909

5.14

%

$

899,973

4.85

%

977,533

4.86

%

Private label residential
mortgage-backed securities

-

-

%

-

-

%

-

-

%

3,910

2.00

%

3,910

2.00

%

Corporate

8,645

5.48

%

16,490

8.64

%

73,955

6.60

%

-

-

%

99,090

6.84

%

Small Business
Administration loan pools

-

-

%

1,611

4.39

%

41,987

4.28

%

35,149

4.34

%

78,747

4.31

%

State and political subdivisions(1)

1,327

3.04

%

5,819

3.08

%

6,658

3.31

%

6,645

4.83

%

20,449

3.72

%

Total available-for-sale securities

61,279

4.15

%

87,929

5.43

%

145,509

5.55

%

945,677

4.82

%

1,240,394

4.92

%

Held-to-maturity securities:

Mortgage-backed securities

Government-sponsored
residential mortgage-
backed securities

-

-

%

-

-

%

3,125

5.03

%

764

4.85

%

3,889

4.99

%

State and political subdivisions(1)

-

-

%

-

-

%

169

3.02

%

1,109

4.62

%

1,278

4.41

%

Total held-to-maturity securities

-

-

%

-

-

%

3,294

4.92

%

1,873

4.71

%

5,167

4.85

%

Total debt securities

$

61,279

4.15

%

$

87,929

5.43

%

$

148,803

5.54

%

$

947,550

4.82

%

$

1,245,561

4.92

%

(1)
The calculated yield is not presented on a tax equivalent basis.

December 31, 2025

Due in one year
or less

Due after one
year through
five years

Due after five
years through
10 years

Due after 10
years

Total

Carrying
Value

Yield

Carrying
Value

Yield

Carrying
Value

Yield

Carrying
Value

Yield

Carrying
Value

Yield

(Dollars in thousands)

Available-for-sale securities:

U.S. Government-sponsored entities

$

10,112

4.45

%

$

16,186

4.45

%

$

-

-

%

$

-

-

%

$

26,298

4.45

%

U.S. Treasury securities

29,747

3.83

%

5,503

4.60

%

-

-

%

-

-

%

35,250

3.95

%

Mortgage-backed securities

Government-sponsored
residential mortgage-
backed securities

2

4.26

%

55,875

4.95

%

15,337

5.13

%

700,931

4.94

%

772,145

4.95

%

Private label residential
mortgage-backed securities

-

-

%

-

-

%

-

-

%

4,326

4.21

%

4,326

4.21

%

Corporate

2,326

3.76

%

18,877

7.89

%

69,839

5.49

%

756

6.01

%

91,798

5.95

%

Small Business
Administration loan pools

-

-

%

2,402

5.01

%

37,952

4.50

%

39,851

4.72

%

80,205

4.62

%

State and political subdivisions(1)

908

3.04

%

3,791

3.10

%

10,330

3.22

%

5,517

4.22

%

20,546

3.46

%

Total available-for-sale securities

43,095

3.95

%

102,634

5.33

%

133,458

4.99

%

751,381

4.92

%

1,030,568

4.93

%

Held-to-maturity securities:

Mortgage-backed securities

Government-sponsored
residential mortgage-
backed securities

-

-

%

-

-

%

3,101

5.02

%

866

4.91

%

3,967

4.99

%

State and political subdivisions(1)

-

-

%

-

-

%

170

3.02

%

1,111

4.62

%

1,281

4.40

%

Total held-to-maturity securities

-

-

%

-

-

%

3,271

4.91

%

1,977

4.74

%

5,248

4.85

%

Total debt securities

$

43,095

3.95

%

$

102,634

5.33

%

$

136,729

4.99

%

$

753,358

4.92

%

$

1,035,816

4.93

%

(1)
The calculated yield is not presented on a tax equivalent basis.

Mortgage-backed securities are securities that have been developed by pooling a number of real estate mortgages which are principally issued by federal agencies such as Ginnie Mae, Fannie Mae, and Freddie Mac. Unlike U.S. Treasury and U.S. government agency securities, which have a lump sum payment at maturity, mortgage-backed securities provide cash flows from regular principal and interest payments and principal prepayments throughout the lives of the securities. Premiums and discounts on mortgage-backed securities are amortized and accreted over the expected life of the security and may be impacted by prepayments. As such, mortgage-backed securities which are purchased at a premium will generally produce decreasing net yields as interest rates drop because homeowners tend to refinance their mortgages, resulting in prepayments and an acceleration of premium amortization. Securities purchased at a discount will reflect higher net yields in a decreasing interest rate environment, as prepayments result in an acceleration of discount accretion.

The contractual maturity of mortgage-backed securities is not a reliable indicator of their expected lives because borrowers have the right to prepay their obligations at any time. Monthly pay downs on mortgage-backed securities cause the average lives of these securities to be much different than their stated lives. At September 30, 2026, and December 31, 2025, 91.8% and 90.5% of the residential mortgage-backed securities held by us had contractual final maturities of more than ten years, with a weighted average life of 5.3 years and 5.0 years and a modified duration of 4.2 years and 4.1 years.

Goodwill Impairment Assessment

At September 30, 2026, we performed an interim qualitative analysis and concluded there were no indications that goodwill was impaired. For additional information, see "Goodwill" under "Critical Accounting Estimates" in the Management's Discussion and Analysis of Financial Condition and Results of Operations.

Deposits

Our lending and investing activities are primarily funded by deposits. A variety of deposit accounts are offered with a wide range of interest rates and terms including demand, savings, money market, and time deposits. We rely primarily on competitive pricing policies, convenient locations, comprehensive marketing strategy, and personalized service to attract and retain these deposits.

The following table shows our composition of deposits at September 30, 2026, and December 31, 2025.

Composition of Deposits

September 30,
2026

December 31,
2025

Amount

Percent
of Total

Amount

Percent
of Total

(Dollars in thousands)

Non-interest-bearing demand

$

1,150,775

18.7

%

$

1,148,409

22.3

%

Interest-bearing demand

1,376,660

22.3

%

1,268,307

24.7

%

Savings and money market

2,012,088

32.6

%

1,736,680

33.8

%

Time

1,627,905

26.4

%

984,868

19.2

%

Total deposits

$

6,167,428

100.0

%

$

5,138,264

100.0

%

Total deposits at September 30, 2026, were $6.17 billion, an increase of $1.03 billion, or 20.0%, compared to total deposits of $5.14 billion at December 31, 2025.

Equity Bank's level of uninsured deposits as a percentage of non-brokered deposits was 29.8% at September 30, 2026, and 32.9% at December 31, 2025. Of these uninsured balances at September 30, 2026, $687.9 million or 40.9 % and at December 31, 2025, $857.6 million or 51.5%, are fully collateralized by either investments held by the Company or letters of credit from the FHLB.

The following table shows deposits acquired in 2026, as of the time of each acquisition.

Frontier Acquisition

Amount

Percent
of Total

(Dollars in thousands)

Non-interest-bearing demand

$

150,136

13.3

%

Interest-bearing demand

185,050

16.3

%

Savings and money market

249,372

22.0

%

Time

547,411

48.4

%

Total deposits

$

1,131,969

100.0

%

Equity Bank participates in the Insured Cash Sweep ("ICS") service that allows the Bank to break large non-time deposits into smaller amounts and place them in a network of other ICS banks to ensure FDIC insurance coverage on the entire deposit. These deposits are placed through ICS services but are Equity Bank's customer relationships that management views as core funding. The Bank also participates in the Certificate of Deposit Account Registry Service ("CDARS") program. CDARS allows the bank to break large time deposits into smaller amounts and place them in a network of other CDARS banks to ensure FDIC insurance coverage on the entire deposit. Reciprocal deposits are not considered brokered deposits as long as the aggregate balance is less than the lesser of 20% of total liabilities or $5.0 billion and Equity Bank is well capitalized and well rated. All non-reciprocal deposits and reciprocal deposits in excess of regulatory limits are considered brokered deposits.

The following table lists reciprocal and brokered deposits included in total deposits categorized by type at September 30, 2026, and December 31, 2025.

September 30,
2026

December 31,
2025

(Dollars in thousands)

Interest-bearing demand

Reciprocal

$

612,155

$

571,989

Non-reciprocal brokered

-

-

Total interest-bearing demand

612,155

571,989

Savings and money market

Reciprocal

142,009

100,226

Non-reciprocal brokered

2

1,605

Total savings and money market

142,011

101,831

Time

Reciprocal

108,168

51,691

Non-reciprocal brokered

508,995

70,170

Total time

617,163

121,861

Total reciprocal and brokered deposits

$

1,371,329

$

795,681

The following table provides information on the maturity distribution of time deposits of $250 thousand or more as of September 30, 2026, and December 31, 2025.

September 30,
2026

December 31,
2025

Change

Percent
Change

(Dollars in thousands)

3 months or less

$

168,500

$

136,661

$

31,839

23.3

%

Over 3 through 6 months

123,079

206,748

(83,669

)

(40.5

)%

Over 6 through 12 months

161,116

67,260

93,856

139.5

%

Over 12 months

46,235

69,857

(23,622

)

(33.8

)%

Total Time Deposits

$

498,930

$

480,526

$

18,404

3.8

%

Other Borrowed Funds

We utilize borrowings to supplement deposits to fund our lending and investing activities. Short-term borrowings and long-term borrowings include federal funds purchased and retail repurchase agreements, FHLB advances, Federal Reserve Bank borrowings, a bank stock loan, and subordinated debt. For additional information see "NOTE 7 - BORROWINGS" in the Condensed Notes to Interim Consolidated Financial Statement.

Liquidity and Capital Resources

Liquidity

The following tables disclose average balances as a percentage of total average assets as of the time periods listed.

For the three months ended

September 30,

2026

2025

Source of funds

Deposits

Non-interest-bearing

15.60

%

19.16

%

Interest-bearing demand

19.58

%

19.71

%

Savings and money market

26.66

%

27.55

%

Time

20.55

%

15.82

%

Federal Home Loan Bank advances

3.55

%

2.76

%

Subordinated borrowings

1.33

%

1.41

%

Other borrowings

0.64

%

0.77

%

Other liabilities

0.81

%

1.06

%

Stockholders' equity

11.28

%

11.76

%

Total

100.00

%

100.00

%

Uses of funds

Loans

72.80

%

69.81

%

Taxable securities

16.84

%

14.39

%

Nontaxable securities

0.28

%

0.66

%

Federal funds sold and other

2.85

%

6.76

%

Other real estate owned, net

0.06

%

0.07

%

Premises and equipment, net

1.93

%

2.22

%

Other non-interest-earnings assets

5.24

%

6.09

%

Total

100.00

%

100.00

%

For the nine months ended

September 30,

2026

2025

Source of funds

Deposits

Non-interest-bearing

16.26

%

18.22

%

Interest-bearing demand

19.65

%

20.08

%

Savings and money market

26.50

%

27.65

%

Time

20.28

%

14.84

%

Federal Home Loan Bank advances

2.94

%

3.94

%

Subordinated borrowings

1.32

%

1.69

%

Other borrowings

0.64

%

0.83

%

Other liabilities

0.84

%

0.94

%

Stockholders' equity

11.57

%

11.81

%

Total

100.00

%

100.00

%

Uses of funds

Loans

72.94

%

69.45

%

Taxable securities

15.67

%

16.47

%

Nontaxable securities

0.30

%

0.91

%

Federal funds sold and other

3.47

%

4.94

%

Other real estate owned, net

0.06

%

0.08

%

Premises and equipment, net

1.91

%

2.20

%

Other non-interest-earnings assets

5.65

%

5.95

%

Total

100.00

%

100.00

%

Market and public confidence in our financial strength and financial institutions in general will largely determine access to appropriate levels of liquidity. This confidence is significantly dependent on our ability to maintain sound asset quality and appropriate levels of capital reserves.

Liquidity is defined as the ability to meet anticipated customer demands for future funds under credit commitments and deposit withdrawals at a reasonable cost and on a timely basis. We measure our liquidity position by considering both on and off-balance sheet sources of and demands for funds on a daily, weekly, and monthly basis.

Liquidity risk involves the risk of being unable to fund assets with the appropriate duration and rate-based liabilities, as well as the risk of not being able to meet unexpected cash needs. Liquidity planning and management are necessary to ensure the ability to fund operations in a cost-effective manner and to meet current and future potential obligations such as loan commitments, lease obligations, and unexpected deposit outflows. In this process, we focus on both assets and liabilities, and the way they combine to provide adequate liquidity to meet our needs.

During the nine months ended September 30, 2026, and 2025, our liquidity needs have primarily been met by core deposits, security and loan maturities, and amortizing security and loan portfolios. Other funding sources include federal funds purchased, brokered certificates of deposit, borrowings from the FHLB, and Federal Reserve Bank borrowings.

Our largest sources of funds are deposits and FHLB borrowings and our largest uses of funds are loan fundings, securities purchases and debt servicing. Average loans were $5.41 billion for the nine months ended September 30, 2026, an increase of 37.4% over the December 31, 2025, average balance. Excess deposits are primarily invested in our interest-bearing deposit account with the Federal Reserve Bank of Kansas City, investment securities, federal funds sold or other short-term liquid investments until the funds are needed to fund loan growth. Our securities portfolio has a weighted average life of 5.3 years and a modified duration of 4.2 years at September 30, 2026.

Cash and cash equivalents were $338.3 million at September 30, 2026, a decrease of $269.5 million from the $607.8 million cash and cash equivalents at December 31, 2025. The majority of our liquidity comes from our operations, including net income, supplemented by the repayment of principal on loans and investment securities through payoffs, paydowns and normal amortization. From time to time as conditions warrant, we borrow funds to maintain our liquidity requirement and fund operational needs. We believe that our daily funding needs can be met through cash provided by operating activities, payments and maturities on loans and investment securities, the core deposit base and FHLB advances and other borrowing relationships.

Off-Balance-Sheet Items

In the normal course of business, we enter into various transactions, which, in accordance with GAAP, are not included in our consolidated balance sheets. We enter into these transactions to meet the financing needs of our customers. These transactions include commitments to extend credit and standby and commercial letters of credit, which involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. Our exposure to credit loss is represented by the contractual amounts of these commitments. The same credit policies and procedures are used in making these commitments as for on-balance sheet instruments.

Standby and Performance Letters of Credit: For additional information see "NOTE 12 - COMMITMENTS AND CREDIT RISK" in the Condensed Notes to Interim Consolidated Financial Statement.

Commitments to Extend Credit: For additional information see "NOTE 12 - COMMITMENTS AND CREDIT RISK" in the Condensed Notes to Interim Consolidated Financial Statement.

Capital Resources

Capital management consists of providing equity to support our current and future operations. The federal bank regulators view capital levels as important indicators of an institution's financial soundness. As a general matter, FDIC-insured depository institutions and their holding companies are required to maintain minimum capital relative to the amount and types of assets they hold. As a financial holding company and a state-chartered-Fed-member bank, we are subject to regulatory capital requirements.

Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action. Management believes as of September 30, 2026, and December 31, 2025, we meet all capital adequacy requirements to which we are subject.

Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized; although, these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as are asset growth and acquisitions, and capital restoration plans are required.

Failure to meet capital guidelines could subject the institution to a variety of enforcement remedies by federal bank regulatory agencies, including termination of deposit insurance by the FDIC, restrictions on certain business activities and appointment of the FDIC as conservator or receiver. As of September 30, 2026, the most recent notifications from the federal regulatory agencies categorized Equity Bank as "well capitalized" under the regulatory framework for prompt corrective action. To be categorized as well capitalized, Equity Bank must maintain minimum Total capital, Tier 1 capital, Common Equity Tier 1 capital, and Tier 1 leverage ratios. For additional information, see "NOTE 9 - REGULATORY MATTERS" in the Condensed Notes to Interim Consolidated Financial Statements. There are no conditions or events since that notification that management believes have changed Equity Bank's category.

Non-GAAP Financial Measures

We identify certain financial measures discussed in this Quarterly Report as being "non-GAAP financial measures." In accordance with SEC's rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP in our statements of income, balance sheet or statements of cash flows. Non-GAAP financial measures do not include operating and other statistical measures or ratios, or statistical measures calculated using exclusively either financial measures calculated in accordance with GAAP, operating measures or other measures that are not non-GAAP financial measures or both.

The non-GAAP financial measures that we discuss in this Quarterly Report should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the way we calculate the non-GAAP financial measures that we discuss in this Quarterly Report may differ from that of other companies reporting measures with similar names. You should understand how such other banking organizations calculate their financial measures similar to, or with names like, the non-GAAP financial measures we have discussed in this Quarterly Report when comparing such non-GAAP financial measures.

Tangible Book Value Per Common Share and Tangible Book Value Per Diluted Common Share: Tangible book value is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) tangible common equity as total stockholders' equity less preferred stock, goodwill, core deposit intangibles (net of accumulated amortization), and other intangible assets (net of accumulated amortization); (b) tangible book value per common share as tangible common equity (as described in clause (a)) divided by shares of common stock outstanding; and (c) tangible book value per diluted common share as tangible common equity (as described in clause (a)) divided by diluted shares of common stock outstanding. For tangible book value, the most directly comparable financial measure calculated in accordance with GAAP is book value.

Management believes that these measures are important to many investors interested in changes from period to period in book value per common share exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing total book value while not increasing our tangible book value.

The following table reconciles, as of the dates set forth below, total stockholders' equity to tangible common equity, tangible book value per common share, and tangible book value per diluted common share and compares these values with book value per common share.

As of the Period Ended

September 30,
2026

June 30,
2026

March 31,
2026

December 31,
2025

September 30,
2025

(Dollars in thousands, except per share data)

Total stockholders' equity

$

815,954

$

827,258

$

817,610

$

732,054

$

711,892

Goodwill

(105,356

)

(105,356

)

(104,958

)

(82,101

)

(77,573

)

Core deposit intangibles, net

(26,485

)

(28,296

)

(30,536

)

(21,634

)

(22,895

)

Naming rights, net

(5,476

)

(5,553

)

(5,629

)

(5,703

)

(5,778

)

Tangible common equity

$

678,637

$

688,053

$

676,487

$

622,616

$

605,646

Common shares issued at period end

20,610,134

20,567,009

20,767,023

18,944,987

19,111,084

Diluted common shares outstanding at period end

20,805,774

20,811,448

20,946,924

19,196,160

19,279,741

Book value per common share

$

39.59

$

40.22

$

39.37

$

38.64

$

37.25

Tangible book value per common share

$

32.93

$

33.45

$

32.58

$

32.86

$

31.69

Tangible book value per diluted common share

$

32.62

$

33.06

$

32.30

$

32.43

$

31.41

Tangible Common Equity to Tangible Assets: Tangible common equity to tangible assets is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate (a) tangible common equity as total stockholders' equity less preferred stock, goodwill, core deposit intangibles (net of accumulated amortization), and other intangible assets (net of accumulated amortization); (b) tangible assets as total assets less goodwill, core deposit intangibles (net of accumulated amortization), and other intangible assets (net of accumulated amortization); and (c) tangible common equity to tangible assets as tangible common equity (as described in clause (a)) divided by tangible assets (as described in clause (b)). For tangible common equity to tangible assets, the most directly comparable financial measure calculated in accordance with GAAP is total stockholders' equity to total assets.

Management believes that this measure is important to many investors in the marketplace interested in the relative changes from period to period in common equity and total assets, each exclusive of changes in intangible assets. Goodwill and other intangible assets have the effect of increasing both total stockholders' equity and total assets while not increasing tangible common equity or tangible assets.

The share count above differs by total shares outstanding by 11,030 related to certain RSA issuances, which while issued have not been included in the amount used as outstanding shares for purposes of the tangible book value definition.

The following table reconciles, as of the dates set forth below, total stockholders' equity to tangible common equity and total assets to tangible assets.

As of the Period Ended

September 30,
2026

June 30,
2026

March 31,
2026

December 31,
2025

September 30,
2025

(Dollars in thousands)

Total stockholders' equity

$

815,954

$

827,258

$

817,610

$

732,054

$

711,892

Goodwill

(105,356

)

(105,356

)

(104,958

)

(82,101

)

(77,573

)

Core deposit intangibles, net

(26,485

)

(28,296

)

(30,536

)

(21,634

)

(22,895

)

Naming rights, net

(5,476

)

(5,553

)

(5,629

)

(5,703

)

(5,778

)

Tangible common equity

$

678,637

$

688,053

$

676,487

$

622,616

$

605,646

Total assets

$

7,591,137

$

7,725,621

$

7,667,370

$

6,373,172

$

6,365,631

Goodwill

(105,356

)

(105,356

)

(104,958

)

(82,101

)

(77,573

)

Core deposit intangibles, net

(26,485

)

(28,296

)

(30,536

)

(21,634

)

(22,895

)

Naming rights, net

(5,476

)

(5,553

)

(5,629

)

(5,703

)

(5,778

)

Tangible assets

$

7,453,820

$

7,586,416

$

7,526,247

$

6,263,734

$

6,259,385

Equity to assets

10.75

%

10.71

%

10.66

%

11.49

%

11.18

%

Tangible common equity to tangible assets

9.10

%

9.07

%

8.99

%

9.94

%

9.68

%

Core Return on Average Equity: Core return on average equity is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) average tangible common equity as total average stockholders' equity less average intangible assets and preferred stock; (b) core net income allocable to common stockholders as net income allocable to common stockholders less net gain on acquisition, less gain(loss) on securities transactions, plus loss on debt extinguishment, plus merger expenses, plus BOLI tax expense, plus goodwill impairment, net of actual tax effect, plus amortization of intangible assets less estimated tax effect on adjustments (c) core return on average equity as core net income allocable to common stockholders (as described in clause (b)) divided by a simple average of net income and core net income plus average stockholders' equity. For return on average equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity.

Return on Average Tangible Common Equity: Return on average tangible common equity is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate: (a) average tangible common equity as total average stockholders' equity less average intangible assets and preferred stock; (b) core net income allocable to common stockholders as net income allocable to common stockholders plus goodwill impairment, net of actual tax effect, plus amortization of intangible assets less estimated tax effect on amortization of intangible assets (c) return on average tangible common equity as core net income allocable to common stockholders (as described in clause (b)) divided by average tangible common equity (as described in clause (a)). For return on average tangible common equity, the most directly comparable financial measure calculated in accordance with GAAP is return on average equity.

Management believes that this measure is important to many investors in the marketplace because it measures the return on equity, exclusive of the effects of intangible assets on earnings and capital. Goodwill and other intangible assets have the effect of increasing average stockholders' equity and, through amortization, decreasing net income allocable to common stockholders while not increasing average tangible common equity or decreasing core net income allocable to common stockholders.

The following table reconciles, as of the dates set forth below, total average stockholders' equity to average equity and net income allocable to common stockholders to core net income allocable to common stockholders.

For the Three Months Ended

September 30,
2026

June 30,
2026

March 31,
2026

December 31,
2025

September 30,
2025

(Dollars in thousands)

Total average stockholders' equity

$

835,551

$

824,633

$

841,838

$

725,651

$

715,319

Average intangible assets

(138,094

)

(140,081

)

(141,742

)

(108,779

)

(95,046

)

Average tangible common equity

$

697,457

$

684,552

$

700,096

$

616,872

$

620,273

Net income (loss) allocable to common stockholders

$

26,774

$

26,439

$

16,966

$

22,084

$

(29,663

)

Amortization of intangible assets

1,942

2,369

2,056

1,390

1,312

Net gain on acquisition

-

-

-

-

-

Net (gain) loss on securities transactions

(10

)

1,213

108

(154

)

53,352

Merger expenses

967

133

5,725

1,481

6,163

Loss on debt extinguishment

-

-

-

-

-

Day 2 Merger provision

-

-

6,099

-

6,228

Tax effect

(609

)

(780

)

(2,937

)

(571

)

(14,082

)

Core net income allocable to common
stockholders

$

29,064

$

29,374

$

28,017

$

24,230

$

23,310

Return on total average stockholders' equity
(ROAE) annualized

12.71

%

12.86

%

8.17

%

12.07

%

(16.45

)%

Core return on average equity

13.78

%

14.26

%

13.41

%

13.23

%

12.47

%

Return on average tangible common equity
(ROATCE) annualized

16.10

%

16.59

%

10.77

%

14.91

%

(18.31

)%

Core return on average tangible common
equity (CROATCE) annualized

16.51

%

17.17

%

16.10

%

15.56

%

14.30

%

Core income calculations: Core income calculations are a non-GAAP measure that management believes is an effective alternative measure of how efficiently we utilize our asset base. Core income is calculated by adjusting GAAP income by non-core gains and losses and excluding non-core expenses, net of tax, as outlined in the table below. We calculate (a) core net income (loss) allocable to common stockholders plus merger expenses, tax effected non-core items, goodwill impairment and BOLI tax adjustment, less gain (loss) from securities transactions; (b) adjusted operating net income as net income (loss) allocable to common stockholders plus adjusted non-core items, tax effected non-core items and BOLI tax adjustments.

Core Net Income and Earnings Per Share: Core net income and Core earnings per share are non-GAAP financial measures generally used to disclose core net income from our operations and earnings per share. We calculated this by taking GAAP net income less non-core impacts to net income to arrive at core net income and core diluted earnings per share. These financial measures are used by financial statement users to evaluate our core financial performance. Management believes that these measures are important to many investors who are interested in changes from period to period in our financial performance and quality of earnings.

The following table reconciles as of the dates set forth below, core net income and earnings per share and compares them to GAAP net income and earnings per share.

For the Three Months Ended

September 30,

June 30,

March 31,

December 31,

September 30,

2026

2026

2026

2025

2025

(Dollars in thousands, except per share data)

Net income (loss) allocable to common stockholders

$

26,774

$

26,439

$

16,966

$

22,084

$

(29,663

)

Amortization of intangible assets

1,942

2,369

2,056

1,390

1,312

Tax effect of adjustments

(408

)

(497

)

(432

)

(292

)

(276

)

Net income (loss) allocable to common stockholders, adjusted
for amortization of intangible assets, net of tax

28,308

28,311

18,590

23,182

(28,627

)

Net gain on acquisitions

-

-

-

-

-

Gain (loss) from securities transactions

(10

)

1,213

108

(154

)

53,352

Loss on debt extinguishment

-

-

-

-

-

Merger expense

967

133

5,725

1,481

6,163

Day 2 Merger provision

-

-

6,099

-

6,228

Tax effect of adjustments

(201

)

(283

)

(2,505

)

(279

)

(13,806

)

Adjusted operating net income

$

29,064

$

29,374

$

28,017

$

24,230

$

23,310

GAAP earnings (loss) per diluted share

$

1.29

$

1.27

$

0.80

$

1.15

$

(1.55

)

Core earnings (loss) per diluted share

$

1.40

$

1.41

$

1.32

$

1.26

$

1.21

Total average assets

$

7,408,928

$

7,330,174

$

7,451,709

$

6,141,284

$

6,085,064

Total average stockholder's equity

$

835,551

$

824,633

$

841,838

$

725,651

$

715,319

Weighted average diluted common shares

20,802,722

20,825,444

21,263,164

19,235,412

19,129,726

Return on Average Assets (ROAA) annualized

1.43

%

1.45

%

0.92

%

1.43

%

-1.93

%

Core Operating ROAA annualized

1.56

%

1.61

%

1.52

%

1.57

%

1.51

%

Efficiency Ratio: The efficiency ratio is a non-GAAP measure generally used by financial analysts and investment bankers to evaluate financial institutions. We calculate the efficiency ratio by dividing non-interest expense, excluding goodwill impairment, merger expenses, amortization of intangible assets and loss on debt extinguishment, by the sum of net interest income and non-interest income, excluding net gains on the sale of available-for-sale securities and other securities transactions, and the net gain on acquisition. The GAAP-based efficiency ratio is non-interest expense less goodwill impairment, divided by net interest income plus non-interest income.

In management's judgment, the adjustments made to non-interest expense and non-interest income allow investors and analysts to better assess operating expenses in relation to operating revenue by removing merger expenses, loss on debt extinguishment, net gains on the sale of available-for-sale securities and other securities transactions, and the net gain on acquisition.

The following table reconciles, as of the dates set forth below, the efficiency ratio to the GAAP-based efficiency ratio.

For the Three Months Ended

September 30,
2026

June 30,
2026

March 31,
2026

December 31,
2025

September 30,
2025

(Dollars in thousands)

Non-interest expense

$

48,114

$

46,885

$

54,969

$

46,587

$

49,082

Merger expense

(967

)

(133

)

(5,725

)

(1,481

)

(6,163

)

Loss on debt extinguishment

-

-

-

-

-

Amortization of intangible assets

(1,942

)

(2,369

)

(2,056

)

(1,390

)

(1,312

)

Non-interest expense

$

45,205

$

44,383

$

47,188

$

43,716

$

41,607

Net interest income

$

72,841

$

73,872

$

73,664

$

63,502

$

62,485

Non-interest income

$

10,904

$

8,058

$

9,487

$

9,532

$

(44,479

)

Net gain on acquisition and branch sales

-

-

-

-

-

Net gain (loss) from securities transactions

(10

)

1,213

108

(154

)

53,352

Non-interest income, excluding net
gain (loss) from securities
transactions and net gain on
acquisition and branch sales

$

10,894

$

9,271

$

9,595

$

9,378

$

8,873

Net interest income plus non-interest
income, excluding net gain on
acquisition and branch sales
and net gain (loss) from
securities transactions

$

83,735

$

83,143

$

83,259

$

72,880

$

71,358

Non-interest expense to net interest
income plus non-interest income

57.45

%

57.23

%

66.11

%

63.79

%

272.59

%

Efficiency Ratio

53.99

%

53.38

%

56.68

%

59.98

%

58.31

%

Total Average Assets

$

7,408,928

$

7,330,174

$

7,451,709

$

6,141,284

$

6,085,064

Core non-interest expense / Average assets

2.42

%

2.43

%

2.57

%

2.82

%

2.71

%

Equity Bancshares Inc. published this content on November 06, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on November 06, 2026 at 21:18 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]