Equity Bancshares Q3 core EPS rises on loan growth, lifts dividend
EQBK•Equity Bancshares reported Q3 core EPS of $1.40 and EPS of $1.29, and said net interest income rose 16.6% year over year to $72.84 million. It announced a 22% increase in its quarterly dividend and a merger with Lincoln Bancorp.
1. Quarterly results
Equity Bancshares said Q3 core EPS rose year over year to $1.40, while EPS was $1.29 and net income was $26.80 million. Net interest income was $72.84 million, up 16.6% from a year earlier but slightly lower than the prior quarter.
2. Dividend and outlook
The company announced a 22% increase in its quarterly dividend and a merger with Lincoln Bancorp. Excluding the merger's impact, it expects Q4 net interest margin of 4.25% to 4.35%, non-interest income of $10 million to $11 million, and non-interest expense of $47 million to $48 million.
