Slide 1: Earnings Presentation 3rd Quarter 2023
Exhibit 99.2 E ARNINGS P RESENTATION 3rd QUARTER 2023
Slide 2: Our Company Equity Bancshares, Inc.
EQUITY BANCSHARES Our Company Equity Bancshares, Inc. NYSE: EQBK Corporate Snapshot • Founded In 2002, Wichita Headquartered, Midwest Franchise Start-Up: 2002 – 2007 • Seasoned Management Team Brad Elliott, Chairman and CEO, founded Equity Bancshares, Inc. in 2002 • Consistent Execution And Strategy
Slide 3: Our Value Proposition
EQUITY BANCSHARES Our Value Proposition MARKET D IVERSIFICATION A ND S TRATEGY FOR G ROWTH E XPERIENCED A ND INVESTED MANAGEMENT T EAM CONSERVATIVE CREDIT CULTURE A ND E FFECTIVE R ISK MANAGEMENT A ND MITIGATION S TRATEGIC & D ISCIPLINED M&A P ARTNER R OBUST FUNDING CAPACITY , A NCHORED B Y A D IVER
Slide 4: Strong Senior Leadership Team
EQUITY BANCSHARES Strong Senior Leadership Team Brad Elliott Chairman & CEO Years in Banking: 34 Rick Sems President Years in Banking: 23 Founded Equity Bank in 2002 Served as Chief Banking Officer of First Bank St. Louis 2018 EY Entrepreneur of the Year National Finalist Former President & CEO of R
Slide 5: Long Term Key Strategic Objectives
EQUITY BANCSHARES Long Term Key Strategic Objectives Grow Tangible Book Maximize Risk Adjusted Value Return on Assets • Efficiently grow core earnings • Re-mix cash flows into higher yielding instruments funded with low-cost core deposits • Effectively deploy capital through share repurchases, divid
Slide 6: Q3 2023 Financial Highlights
EQUITY BANCSHARES Q3 2023 Financial Highlights BALANCE SHEET STRENGTH AND NET INCOME EARNINGS CONSISTENCY $12.3 million THROUGH MARKET ADVERSITY NET INTEREST MARGIN DILUTED EPS 3.51 % $0.80 YIELD ON LOANS NET INCOME DILUTED EPS 6.67 % $12.3 M I L L I O N $0.80 COST OF DEPOSITS TOTAL REVENUE 1.84 % $
Slide 7: Net Income Walk
EQUITY BANCSHARES Net Income Walk Drivers of Net Income Change Period over Period Net Income Drivers Net Interest Income Net interest income totaled $41.0 million in the third quarter, up $1.6 million from the second quarter, driven by an increase in net interest margin. Noninterest Income Nonintere
Slide 8: Performance Metrics
EQUITY BANCSHARES Performance Metrics Return on Tangible Common Equity(1) Pre-Tax, Pre-Provision ROAA(1) 1.49% 17.1% 14.7% 14.9% 14.2% 13.6% 1.22% 1.22% 1.18% 1.05% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Efficiency Ratio(1) TCE / TA excluding AOCI(1) 70.5% 70
Slide 9: Revenue Trends
EQUITY BANCSHARES Revenue Trends Quarterly Results (1) Net Interest Income Net Interest Margin Net Interest Income Noninterest Income Noninterest % Operating Revenue Noninterest Income / AA 3.67% 17.6% 15.7% 18.0% 17.3% 17.6% 3.62% 3.51% 3.44% 3.38% 0.71% 0.67% 0.70% 0.55% 0.69% $8,986 $7,893 $8,736
Slide 10: Net Interest Income
EQUITY BANCSHARES Net Interest Income Key Net Interest Income Drivers Net Interest Income Period over Period Noninterest-Bearing Deposits Noninterest-bearing deposits constitute 23% of total deposits. Loan Yield Loan yield is up 33bps linked quarter, as we continue to originate higher yielding credi
Slide 11: Strong Core Deposit Franchise
EQUITY BANCSHARES Strong Core Deposit Franchise Current Deposit Composition Core Deposits(1) / Total Deposits Savings Time Deposits > 100k Core Deposits Core Deposits / Total Deposits 7% 13% 89.5% Time Deposits < 100k 86.2% 85.1% 86.6% 83.4% 5% MMDA 28% Non-Interest Bearing DDA $3,782 $3,658 $3,575
Slide 12: Yield / Cost Components
EQUITY BANCSHARES Yield / Cost Components Cost Analysis Cumulative Betas Cost of Deposits Cost of IB Deposits Q4 2021 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Average Fed Funds 0.08% 3.65% 4.51% 4.99% 5.26% Rate 2.40% Loans 34% 36% 40% 45% 2.14% 1.73% 1.05% 1.84% 1.64% 0.57% 1.31% Deposits 16% 25% 30% 32% 0.
Slide 13: Diversified Loan Portfolio
EQUITY BANCSHARES Diversified Loan Portfolio Loan Mix Total Loans & Yield on Loans 6.67% 5.73% 5.00% 4.77% 4.98% Consumer 3% $3.16B $3.31B $3.28B Agriculture $2.56B $2.59B 9% Commercial Real Estate 2019 2020 2021 2022 Q3 2023 Residential Real 39% Estate 17% TOTAL CLASSIFIED LOANS C&I $37.6M 31% TOTA
Slide 14: Asset Quality Trends - Quarterly
EQUITY BANCSHARES Asset Quality Trends - Quarterly Nonperforming Assets Total Reserve Ratio (2) (1) Nonaccruals OREO & Other Repo. Assets NPAs / Assets Allowance for Credit Losses Purchase Discount 1.50% 1.43% 0.59% 1.40% 1.39% 1.39% 0.37% 0.33% 0.31% 0.41% 0.07% 0.05% 0.05% 0.05% 0.04% $6.6 $0.3 $0
Slide 15: Asset Quality Trends – Annual
EQUITY BANCSHARES Asset Quality Trends – Annual Nonperforming Assets Total Reserve Ratio (2) (1) Nonaccruals OREO & Other Repo. Assets NPAs / Assets Allowance for Credit Losses Purchase Discount 1.36% 1.98% 1.28% 1.19% 1.65% $10.8 1.43% 1.39% $36.4 0.68% 0.12% $8.5 0.41% 0.05% 0.37% 0.04% 0.73% $0.6
Slide 16: Allowance for Credit Loss (ACL)
EQUITY BANCSHARES Allowance for Credit Loss (ACL) ACL Intra-Quarter Movement Loan Classification ACL Loans ACL / Loans (%) Commercial Real Estate $13,696 $1,721,761 0.80% Commercial & Industrial $18,960 $585,129 3.24% Residential Real Estate $7,336 $558,188 1.31% Agricultural Real Estate $1,200 $205
Slide 17: Investment Portfolio Strategy
EQUITY BANCSHARES Investment Portfolio Strategy Environment Shift: 2020 -> 2023 • As we began 2020, investment portfolio was Investment Portfolio Thesis over 80% Agency MBS and CMOs • We believe the structure in the portfolio outperforms peers through the cycle • As rates collapsed, the majority of
Slide 18: Tangible Book Value
EQUITY BANCSHARES Tangible Book Value Tangible book value per share(1) increased $0.01 in Q3 2023 (1) Non-GAAP financial measure. Refer to the non-GAAP reconciliation at the end of this presentation. 18
Slide 19: Capital Management Strategy
EQUITY BANCSHARES Capital Management Strategy Capital Management Capital Targets The Company’s capital ratios are comfortably above well capitalized EQBK establishes capital targets based on the levels as of 9/30/2023 following objectives: • Maintain designation as a “well capitalized” Regulatory We
Slide 20: Outlook on Key Business Drivers
EQUITY BANCSHARES Outlook on Key Business Drivers Consideration & Expectations • Continued uncertainty of inflation, supply chain disruption and input cost escalation. • Focus on continued balance sheet strength and security while continuing to pursue growth. Key Driver Q3’23 Outlook Q3’23 Results Q
Slide 21: Focus Variables for Outlook & Forecast
EQUITY BANCSHARES Focus Variables for Outlook & Forecast Our outlook requires clarity around certain variables, including: Economic • Business activity creates opportunity for lending and deposit growth. Current macro- Environment environment response and resolution will be a significant driver. Cus
Slide 22: Our Markets: Kansas and Missouri
EQUITY BANCSHARES Our Markets Kansas Missouri 21 counties 10 counties 37 branches 16 branches Deposits Market Deposits Market Rank Institution Branches Rank Institution Branches ($mm) Share ( % ) ($mm) Share ( % ) 1 Bank of America Corp. $6,902 11.36 21 1 UMB Financial Corp. $23,649 45.07 19 2 Capit
Slide 23: Our Markets: Oklahoma and Arkansas
EQUITY BANCSHARES Our Markets Oklahoma Arkansas Kay | Texas | Tulsa Benton | Boone | Carroll 9 branches 5 branches Deposits Market Deposits Market Rank Institution Branches Rank Institution Branches ($mm) Share ( % ) ($mm) Share ( % ) 1 BOK Financial Group $9,111 31.97 21 1 Arvest Bank Group Inc. $4
Slide 24: Non-GAAP reconciliations
Non-GAAP reconciliations
Slide 25: Non-GAAP reconciliations: Tangible Common Equity
EQUITY BANCSHARES Non-GAAP reconciliations Calculations of Tangible Common Equity and Related Measures ($ in thousands, except per share data) 25
Slide 26: Non-GAAP reconciliations: ROATCE and Efficiency Ratio
EQUITY BANCSHARES Non-GAAP reconciliations Calculations of ROATCE and Efficiency Ratio ($ in thousands, except per share data) 26
Slide 27: Non-GAAP reconciliations: ROAA and ROAE
EQUITY BANCSHARES Non-GAAP reconciliations Calculations of Return on Average Assets and Return on Average Equity ($ in thousands, except per share data) 27
Slide 28: Forward Looking Statements
EQUITY BANCSHARES Forward Looking Statements This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current v
Slide 29: investor.equitybank.com
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