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what it is
Equity Bancshares runs a regional bank that makes money from loans, deposits, and cash services for businesses and households.
how it gets paid
Last year Equity Bancshares made $331M in revenue. commercial real estate and construction was the main engine at $99.3M, or 30% of sales.
growth snapshot
Revenue was roughly flat last year at $331M. EDGAR shows latest-quarter revenue up 163% vs. prior year on a reported basis.
what just happened
The latest quarter showed $240M of revenue and $0.04 of EPS, but the bigger story is how messy the year-to-year comparisons look.
At a glance
B+ balance sheet — decent shape, but not bulletproof
20/100 earnings predictability — expect surprises
36.2x trailing p/e — you're paying up for this one
1.6% dividend yield — cash in your pocket every quarter
$1.31 fy2025 eps est
xvary composite: 55/100 — below average
What they do
Equity Bancshares runs a regional bank that makes money from loans, deposits, and cash services for businesses and households.
This is scale plus inconvenience. Equity had $5.14 billion of deposits and $6.37 billion of assets at December 31, 2025, then moved to about $7.9 billion of pro forma assets after the Frontier deal closed in January 2026. If your business runs deposits, payroll, credit lines, and cash tools through one bank, moving your money means rewiring the plumbing.
How they make money
$331M
annual revenue · their business grew +0.0% last year
commercial and industrial lending
$82.8M
commercial real estate and construction
$99.3M
mortgage and homebuilder lending
$39.7M
agricultural and government-guaranteed lending
$46.3M
cash management and deposit services
$29.8M
consumer and other banking
$33.1M
The products that matter
commercial lending
Commercial Loans
$330.8M interest income
it generated $330.8M in annual interest income against $331M total revenue. In human-speak: the spread business is basically the business.
core revenue engine
deposit funding base
Deposit Accounts
$5.14B deposits
this $5.14B deposit base is the raw material for the loan book and the first line of defense against pricier funding. Banks count the money on the asset side. They survive on the funding side.
funding matters
Key numbers
$5.14B
deposit base
That is your funding pool. Bigger deposits give the bank more room to write loans without overpaying for cash.
36.2x
trailing p/e
You are paying 36.2 times trailing earnings for a regional bank. That leaves less room for mistakes.
$7.9B
pro forma assets
Scale matters in banking because fixed costs get spread across more loans, branches, and back-office work.
$110M
long-term debt
Debt is 11% of capital, which keeps leverage from being the first thing you worry about here.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- long-term debt $110M (11% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for EQBK right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The latest quarter showed $240M of revenue and $0.04 of EPS, but the bigger story is how messy the year-to-year comparisons look.
EDGAR shows latest-quarter revenue up 163% vs. prior year on a reported basis. The quarterly EPS history in the source set also shows wide swings, which makes one clean read hard.
$240M
revenue
$0.04
eps
n/a
n/a
the number that mattered
$240M matters because it is 72.5% of the full $331M annual revenue base, which tells you acquisitions and accounting noise are dominating the snapshot.
source: company earnings report, 2026
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What could go wrong
EQBK is not being judged like a sleepy bank. It is being judged like a post-merger earnings story, which means the margin for ordinary disappointment is thin.
high
frontier integration slips
the merger closed on 2026-01-02. if systems, credit, people, or branch integration run behind plan, the 31% revenue growth case starts looking aspirational instead of operational.
this goes straight at the story holding up a 36.2x p/e on a $331M revenue base.
med
rate sensitivity hits spreads
net interest spread is the gap between what the bank earns on loans and what it pays on deposits. with $5.14B in deposits, funding costs and loan yields matter more than almost any headline number on the page.
if spreads compress, that 39.4% net margin gets less comfortable very quickly.
med
multiple compression
regional banks do not usually hold 36.2x earnings unless the market expects a sharp improvement. if post-deal results look merely fine, the stock can fall even if the bank stays profitable.
you are exposed to execution risk and valuation risk at the same time.
low
equity plan expansion
the 2026 annual meeting includes a vote to amend the 2022 equity incentive plan. this does not rewrite the thesis, but it matters for per-share math if awards increase.
any added dilution chips away at the benefit of improved earnings per share.
what would change our mind: if the first post-deal quarters do not show a credible path to that 31% growth profile, or if spreads weaken enough to pressure margins while the multiple stays rich, the thesis breaks.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
q1 2026 earnings report
estimated for april 21, 2026. this should be your first fuller read on what the Frontier deal actually changed.
trend
31% growth narrative
flat $331M revenue is the baseline. anything meaningfully below the promised step-up will raise a simple question: why is this still priced like a special situation?
risk
deposit costs and loan spreads
with $5.14B in deposits, small changes in funding costs can move the earnings story more than the headline revenue line does.
metric
core return on average equity
q4 printed 13.23%. you want to see that stay healthy while the merger gets absorbed, not fade as integration costs start showing up.
Analyst rankings
earnings predictability
20 / 100
low predictability score. in human-speak, analysts do not see this as a bank that reliably prints the same quarter over and over.
source: institutional data
Institutional activity
institutional ownership data for EQBK is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$47
current price
n/a
target midpoint · n/a from current
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