EQBK

EX-99.1

2 eqbk-ex99_1.htm

EX-99.1

EX-99.1

Equity Bancshares, Inc. Exhibit 99.1

PRESS RELEASE

Equity Bancshares, Inc. Third Quarter Results Highlighted by Organic Loan Growth and Announced Merger with Lincoln Bancorp

EPS of $1.29 and Core EPS of $1.40 Reflects Franchise Earning Power

WICHITA, Kansas, October 14, 2026 (BUSINESSWIRE) – Equity Bancshares, Inc. (NYSE: EQBK), (“Equity”, “the Company,” “we,” “us,” “our”), the Wichita-based holding company of Equity Bank, reported net income of $26.8 million or $1.29 per diluted share for the quarter ended September 30, 2026. Core earnings per diluted share for the quarter was $1.40.

“This quarter our company continued to execute at an exciting level. Earnings were strong, production reached all-time highs and loans grew organically. We are putting teams in place with an aligned mission to deepen and expand customer relationships while providing exceptional service to the communities we serve. The results for the quarter reflect that mission,” said Brad S. Elliott, Chairman and CEO of Equity Bancshares.

“As our teams realized positive operating results in our current footprint, we announced our merger with Lincoln Bancorp, which will add the incredible team members, growing communities and exceptional customers it has been cultivating for 124 years. The approval process is progressing as planned and we look forward to all our teams will accomplish together in 2027 and beyond,” Mr. Elliott continued.

Notable Items:

• Loans ended the period at $5.4 billion, up $39.2 million or an annualized rate of 2.9%. Legacy markets, excluding those acquired through the Frontier and NBC acquisitions, grew at an annualized rate of 11.9%. Loan production for the period was $379.3 million, up 20.3% quarter over quarter.

• Net interest income was $72.8 million, down $1.0 million quarter over quarter. Growth in interest income of $1.1 million was outpaced by growth in interest expense for the period as deposit costs increased. Year-over-year net interest income was up $10.4 million, or 16.6%. Loan purchase accounting accretion was $3.3 million in the quarter.

• Efficiency ratio for the period was 54.0% compared to 53.4% in the previous period. Non-interest expense, adjusted for merger expenses and intangible amortization, as a percentage of average assets improved 1 basis point quarter over quarter to 2.42%.

• Return on average equity for the quarter was 12.7%, compared to 12.9% in the previous quarter. Return on average tangible common equity ("ROATCE") was 16.1% compared to 16.6% in the previous quarter.

• Book value per share was $39.59 compared to $40.22 in the previous period and tangible book value per share was $32.93 compared to $33.45 in the previous period. Exclusive of Accumulated Other Comprehensive Income (“AOCI”) book value per share and tangible book value per share increased $1.08 and $1.19, respectively, in the period. Tangible common equity to tangible common assets closed the quarter at 9.1%, up 3 basis points.

• During the quarter, the Company realized net charge-offs of $2.1 million. The allowance for credit losses (“ACL”) closed the quarter at 1.18% of outstanding balances, while ACL plus purchase discounts on loans closed the quarter at 1.65%. As of the end of the period, the ACL was sufficient to cover 7.7 years of current period annualized losses.

• The Company announced a 22% increase in our quarterly dividend to $0.22 on outstanding common shares as of September 30, 2026. Year to date the Company has repurchased 711,369 shares at a weighted average cost of $44.84. As previously announced our repurchase authorization was re-established in September for a total of 1,000,000 shares.

Equity Bancshares, Inc.

PRESS RELEASE

Financial Results for the Quarter Ended September 30, 2026

Net income was $26.8 million, or $1.29 per diluted share, as compared to $26.4 million, or $1.27 per diluted share in the prior quarter. Core net income was $29.1 million or $1.40 per diluted share, demonstrating the underlying earnings power of the franchise.

The drivers of the current period results are discussed in detail in the following sections.

Net Interest Income

Net interest income was $72.8 million for the period, as compared to $73.9 million in the previous quarter. Net interest margin was 4.20%. The decline in net interest income is primarily attributable to an expanding cost of funds and declining yield on earning assets. During the quarter, average earning assets increased $78.0 million driven by investment balances funded by borrowings further driving decline in margin.

Period-end loan balances are $50.4 million higher than average balances during the period. This compositional shift in average earning assets coupled with the full period impact of the FOMC’s decision to raise interest rates in September, is expected to offset deposit pricing competition and yield

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