Equity BancShares Inc (NYSE:EQBK) stock fell 5.11% (As on July 15, 11:22:16 AM UTC-4, Source: Google Finance) after the company posted mixed result for the first quarter of FY25. The company’s net interest margin expanded by 9 basis points from 4.08% in the previous quarter to 4.17% in Q2 2025. This improvement was attributed to the growing contribution of loans to average earning assets and positive portfolio repricing. However, it decreased from 4.27% in the previous quarter, while core return on average assets improved to 1.35% from 1.24%. During the quarter, Equity Bancshares finalized its merger with NBC Oklahoma, adding approximately $695.1 million in loans and $800.5 million in deposits. The acquisition, which added seven new locations, officially closed on July 2, 2025, marking a significant expansion of Equity Bank’s presence into Oklahoma City. The merger with NBC Oklahoma is expected to provide strategic growth opportunities and expand market reach for Equity Bank in the latter half of 2025 and beyond. The bank reported core net income of $17.5 million for Q2 2025, showing improvement from the outflows previous quarter’s $16.0 million. The efficiency ratio slightly increased to 63.62% from 62.43% in Q1 2025. Average tangible common equity increased to 12.64% in Q2 2025 from 12.14% in Q1 2025. The tangible common equity to tangible assets ratio excluding AOCI also improved to 11.31% from 10.88% in the previous quarter.

Moreover, Loan balances at the end of the period were reported at $3.60 billion, with an average quarterly loan balance increase of $55.8 million or an annualized 6.2%. However, deposit balances, excluding brokered deposits, saw a decrease of $43.4 million due to seasonal. Equity Bancshares demonstrated solid financial performance in Q2 2025, with tangible book value per share (TBVPS) increasing to $32.17 from $31.07 in the previous quarter. This growth represents a continuation of the company’s consistent TBVPS expansion since its IPO, when it stood at $16.26. Meanwhile, Asset quality metrics showed some deterioration in Q2 2025, with nonperforming assets to total assets increasing to 0.85% from 0.51% in Q1 2025. However, net charge-offs remained low at 0.06% of average loans (annualized), up slightly from 0.02% in the previous quarter.

EQBK in the second quarter of FY25 has reported the adjusted earnings per share of 99 cents, beating the analysts’ estimates for the adjusted earnings per share of 90 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue of $58.39 million in the second quarter of FY25, missing the analysts’ estimates for revenue of $60.46 million.