Overview

* Equity Bancshares ( EQBK ) reports Q3 net loss of $29.7 mln due to merger expenses and bond losses

* Adjusted net income for Q3 was $22.5 mln, excluding merger and bond repositioning costs

* Company completed NBC Oklahoma acquisition, adding significant loan and deposit balances

Outlook

* Company did not provide specific financial guidance for future quarters or full year in the press release

Result Drivers

* NBC ACQUISITION - The merger with NBC Oklahoma added $664.6 mln in loans and $807.1 mln in deposits, significantly impacting Q3 results

* BOND PORTFOLIO REPOSITIONING - Sale of securities led to a $53.4 mln pre-tax loss, with proceeds redeployed to improve yield from 2.20% to 5.00%

* NET INTEREST MARGIN EXPANSION - Margin increased by 28 basis points to 4.45%, driven by NBC merger and investment repositioning

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS -$1.55

Q3 Net -$29.70

Income mln

Q3 Net $62.48

Interest mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Equity Bancshares Inc ( EQBK ) is $49.00, about 17.4% above its October 13 closing price of $40.46

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)