EQUITY BANCSHARES INC
For the period ended Dec 31, 2024. Filed Mar 7, 2025.
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FY2024 · Filed Mar 7, 2025
EQBK$49.21-0.3%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| EQUITY BANCSHARES, INC. | |||
|---|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
| For the Years ended December 31, 2024, 2023, and 2022 | |||
| (Dollar amounts in thousands, except per share data) | |||
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net income (loss) | $62,621 | $7,821 | $57,688 |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | |||
| Stock-based compensation | 4,048 | 3,213 | 3,325 |
| Depreciation | 5,377 | 4,516 | 4,466 |
| Amortization of operating lease right-of-use asset | 475 | 604 | 714 |
| Amortization of cloud computing implementation costs | 138 | 188 | 188 |
| Provision (reversal) for credit losses | 2,546 | 1,873 | 125 |
| Net amortization (accretion) of purchase valuation adjustments | (1,997) | (618) | (3,979) |
| Amortization (accretion) of premiums and discounts on securities | (2,480) | 4,041 | 6,302 |
| Amortization of intangible assets | 4,408 | 3,518 | 4,186 |
| Deferred income taxes | 796 | (2,435) | 2,594 |
| Federal Home Loan Bank stock dividends | (1,082) | (594) | (369) |
| Loss (gain) on sales and valuation adjustments on other real estate owned | (7,906) | 218 | 80 |
| Net loss (gain) on sales and settlements of securities | 267 | 52,013 | (79) |
| Change in unrealized (gains) losses on equity securities | (487) | (104) | 74 |
| Loss (gain) on disposal of premises and equipment | (66) | (103) | (41) |
| Loss (gain) on lease termination | — | 173 | — |
| Loss (gain) on sales of foreclosed assets | 95 | 58 | (345) |
| Loss (gain) on sales of loans | 54 | (472) | (1,085) |
| Originations of loans held for sale | (34,506) | (24,964) | (46,140) |
| Proceeds from the sale of loans held for sale | 37,441 | 24,967 | 50,774 |
| Increase in the value of bank-owned life insurance | (4,966) | (4,059) | (3,113) |
| Change in fair value of derivatives recognized in earnings | (95) | 522 | (1,477) |
| Gain on acquisition and branch sales | (2,131) | — | (962) |
| Payments on operating lease payable | (612) | (915) | (771) |
| Net change in: | |||
| Interest receivable | (614) | (4,867) | (2,973) |
| Other assets | 11,224 | 6,166 | 22,466 |
| Interest payable and other liabilities | 1,297 | 5,767 | (17,575) |
| Net cash provided by operating activities | 73,845 | 76,527 | 74,073 |
| Cash flows (to) from investing activities | |||
| Purchases of available-for-sale securities | (183,909) | (510,224) | (182,036) |
| Purchases of held-to-maturity securities | (3,188) | (275) | (1,950) |
| Proceeds from sales, calls, pay-downs and maturities of available-for-salesecurities | 288,344 | 789,390 | 168,409 |
| Proceeds from calls, pay-downs and maturities of held-to-maturity securities | 226 | 17 | 3 |
| Net change in loans | 16,236 | (23,715) | (181,896) |
| Purchase of mortgage loans | — | — | (1,399) |
| Purchase of government guaranteed loans | (49,086) | (1,235) | (2,293) |
| Capitalized construction cost of other real estate owned | — | (562) | (12) |
| Purchase of premises and equipment | (8,493) | (15,575) | (3,479) |
| Proceeds from sale of premises and equipment | 706 | 163 | 164 |
| Proceeds from sale of foreclosed assets | 928 | 110 | 29,888 |
| Net redemptions (purchases) of Federal Home Loan Bank and Federal Reserve Bank stock | (5,863) | 1,681 | (3,816) |
| Net redemptions (purchases) of correspondent and miscellaneous other stock | (543) | (11,855) | (4,546) |
| Proceeds from sale of other real estate owned | 9,397 | 1,874 | 9,323 |
| Purchase of bank-owned life insurance | (60,000) | — | — |
| Proceeds from bank-owned life insurance death benefits and policy surrenders | 56,799 | 2,376 | 723 |
| Net cash (paid) received from acquisition of Rockhold | 60,914 | — | — |
| Net cash (paid) received from acquisition of KansasLand bank | 1,261 | — | — |
| Net cash (paid) received from branch sale to United Bank and Trust | — | — | (22,939) |
| Net cash (paid) received from branch sale to High Plains Bank | — | — | (18,328) |
| Net cash (used in) provided by investing activities | 123,729 | 232,170 | (214,184) |
|---|---|---|---|
| Cash flows (to) from financing activities | |||
| Net increase (decrease) in deposits | (163,038) | (96,436) | (106,330) |
| Net change in federal funds purchased and retail repurchase agreements | (15,934) | (2,896) | (9,528) |
| Net borrowings (repayments) on Federal Home Loan Bank line of credit | 72,024 | (138,864) | 138,864 |
| Proceeds from Federal Home Loan Bank term advances | 1,200,000 | 1,366,091 | 413,973 |
| Principal repayments on Federal Home Loan Bank term advances | (1,201,000) | (1,266,091) | (413,973) |
| Proceeds from Federal Reserve Bank borrowings | 1,000 | 141,000 | 1,000 |
| Principal payments on Federal Reserve Bank borrowings | (141,000) | (1,000) | (1,000) |
| Principal payments on bank stock loan | (691) | — | — |
| Proceeds from issuance of common stock, net | 86,980 | — | — |
| Proceeds from exercise of employee stock options | 3,506 | 203 | 2,011 |
| Proceeds from employee stock purchase plan | 726 | 784 | 792 |
| Purchase of treasury stock | (11,859) | (17,900) | (33,186) |
| Net change in contractual obligations | (15,748) | (12,303) | (2,474) |
| Dividends paid on common stock | (7,892) | (6,614) | (5,564) |
| Net cash provided by (used in) financing activities | (192,926) | (34,026) | (15,415) |
| Net change in cash and cash equivalents | 4,648 | 274,671 | (155,526) |
| Cash and cash equivalents, beginning of period | 379,099 | 104,428 | 259,954 |
| Ending cash and cash equivalents | $383,747 | $379,099 | $104,428 |
| Supplemental cash flow information: | |||
| Interest paid | $116,193 | $80,807 | $25,803 |
| Income taxes paid, net of refunds | 6,195 | 3,467 | 1,218 |
| Supplemental noncash disclosures: | |||
| Other real estate owned acquired in settlement of loans | 2,656 | 1,086 | 2,369 |
| Other real estate owned transferred from premises and equipment | 1,822 | — | 2,210 |
| Other repossessed assets acquired in settlement of loans | 5,454 | 505 | 47 |
| Operating leases recognized | 784 | 690 | — |
| Other real estate owned recorded as a result of transferring non-operational branch right-of-use-asset | — | — | 2,071 |
| Purchase of investments in tax credit structures and resulting contractual obligations | 8,500 | 16,400 | — |
| Total fair value of assets sold in branch sale to United Bank and Trust, net of cash | — | — | 29,762 |
| Total fair value of liabilities assumed in branch sale to United Bank and Trust | — | — | 52,733 |
| Total fair value of assets sold in branch sale to High Plains Bank, net of cash | — | — | 490 |
| Total fair value of liabilities assumed in branch sale to High Plains Bank | — | — | 19,064 |
| Total fair value of assets acquired in purchase of Rockhold, net of cash | 301,018 | — | — |
| Total fair value of liabilities assumed in purchase of Rockhold | 360,632 | — | — |
| Total fair value of assets acquired in purchase of KansasLand , net of cash | 50,572 | — | — |
| Total fair value of liabilities assumed in purchase of KansasLand | 51,002 | — | — |
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