EQUITY BANCSHARES INC
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 2024
EQBK$49.21-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
| EQUITY BANCSHARES, INC. | ||
|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||
| For the Nine Months ended September 30, 2024, and 2023 | ||
| (Dollar amounts in thousands) | ||
| (Unaudited)September 30, | ||
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net income | $45,635 | $36,120 |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| Stock-based compensation | 2,859 | 2,351 |
| Depreciation | 3,985 | 3,338 |
| Amortization of operating lease right-of-use asset | 346 | 472 |
| Amortization of cloud computing implementation costs | 104 | 141 |
| Provision (reversal) for credit losses | 2,448 | 1,162 |
| Net amortization (accretion) of purchase valuation adjustments | (1,457) | (649) |
| Amortization (accretion) of premiums and discounts on securities | (2,056) | 3,384 |
| Amortization of intangible assets | 3,337 | 2,743 |
| Deferred income taxes | (2,957) | 953 |
| Federal Home Loan Bank stock dividends | (812) | (446) |
| Loss (gain) on sales and valuation adjustments on other real estate owned | (7,876) | 44 |
| Net loss (gain) on sales and settlements of securities | 268 | 1,330 |
| Change in unrealized (gains) losses on equity securities | (490) | (39) |
| Loss (gain) on disposal of premises and equipment | (210) | (16) |
| Loss (gain) on sales of foreclosed assets | 52 | 14 |
| Loss (gain) on sales of loans | 161 | (385) |
| Originations of loans held for sale | (29,500) | (20,279) |
| Proceeds from the sale of loans held for sale | 31,940 | 20,387 |
| Increase in the value of bank-owned life insurance | (3,083) | (3,134) |
| Change in fair value of derivatives recognized in earnings | (7) | 334 |
| Gain on acquisition | (2,131) | — |
| Payments on operating lease payable | (455) | (588) |
| Net change in: | ||
| Interest receivable | (99) | (2,991) |
| Other assets | 11,973 | 13,727 |
| Interest payable and other liabilities | 172 | 5,582 |
| Net cash provided by operating activities | 52,147 | 63,555 |
| Cash flows (to) from investing activities | ||
| Purchases of available-for-sale securities | (141,239) | (2,249) |
| Purchases of held-to-maturity securities | (3,189) | (275) |
| Proceeds from sales, calls, pay-downs and maturities of available-for-sale securities | 229,798 | 109,261 |
| Proceeds from calls, pay-downs and maturities of held-to-maturity securities | 16 | 13 |
| Net change in loans | (95,958) | 28,380 |
| Purchase of government guaranteed loans | (32,248) | (1,235) |
| Capitalized construction cost of other real estate owned | — | (561) |
| Purchase of premises and equipment | (6,645) | (12,141) |
| Proceeds from sale of premises and equipment | 2,334 | 40 |
| Proceeds from sale of foreclosed assets | 719 | 141 |
| Net redemptions (purchases) of Federal Home Loan Bank and Federal Reserve Bank stock | (12,687) | 1,361 |
| Net redemptions (purchases) of correspondent and miscellaneous other stock | (493) | (6,033) |
| Proceeds from sale of other real estate owned | 9,397 | 1,833 |
| Purchase of bank owned life insurance | (60,000) | — |
| Proceeds from surrender of bank owned life insurance policies | 16,174 | — |
| Proceeds from bank-owned life insurance death benefits | — | 2,071 |
| Purchase of Net Assets of Rockhold BanCorp, net of cash acquired | 60,914 | — |
| Purchase of Net Assets of KansasLand Bancshares, Inc., net of cash acquired | 1,261 | — |
| Net cash (used in) provided by investing activities | (31,846) | 120,606 |
| Cash flows (to) from financing activities | ||
| Net increase (decrease) in deposits | (174,820) | (159,734) |
| Net change in federal funds purchased and retail repurchase agreements | (14,984) | (6,777) | |
|---|---|---|---|
| Net borrowings (repayments) on Federal Home Loan Bank line of credit | 189,947 | (138,864) | |
| Proceeds from Federal Home Loan Bank term advances | 900,000 | 1,066,091 | |
| Principal repayments on Federal Home Loan Bank term advances | (901,000) | (966,091) | |
| Proceeds from Federal Reserve Bank borrowings | 1,000 | 141,000 | |
| Principal payments on Federal Reserve Bank borrowings | (141,000) | (1,000) | |
| Principal payments on bank stock loan | (691) | — | |
| Proceeds from the exercise of employee stock options | 1,992 | 15 | |
| Proceeds from employee stock purchase plan | 727 | 784 | |
| Purchase of treasury stock | (11,859) | (17,635) | |
| Net change in contractual obligations | (7,632) | (2,599) | |
| Dividends paid on common stock | (5,597) | (4,762) | |
| Net cash (used in) provided by financing activities | (163,917) | (89,572) | |
| Net change in cash and cash equivalents | (143,616) | 94,589 | |
| Cash and cash equivalents, beginning of period | 379,099 | 104,428 | |
| Ending cash and cash equivalents | $235,483 | $199,017 | |
| Supplemental cash flow information: | |||
| Interest paid | $86,728 | $52,730 | |
| Income taxes paid, net of refunds | 4,495 | 3,406 | |
| Supplemental noncash disclosures: | |||
| Other real estate owned acquired in settlement of loans | 669 | 476 | |
| Other repossessed assets acquired in settlement of loans | 633 | 176 | |
| Purchase of investments in tax credit structures and resulting contractual obligations | 8,000 | 16,400 | |
| Redemption of BOLI and other related noncash items | 40,104 | — | |
| Total fair value of assts acquired in purchase of Rockhold BanCorp, net of cash | 301,018 | — | |
| Total fair value of liabilities assumed in purchase of Rockhold BanCorp | 360,632 | — | |
| Total fair value of assts acquired in purchase of KansasLand Bancshares, Inc., net of cash | 50,572 | — | |
| Total fair value of liabilities assumed in purchase of KansasLand Bancshares, Inc. | 51,002 | — | |
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