EQUITY BANCSHARES INC Debt Disclosure

NOTE 10 – BORROWINGS

Federal Funds Purchased and Retail Repurchase Agreements

Securities sold under agreements to repurchase (retail repurchase agreements) consist of obligations of the Company to other parties. The obligations are secured by residential mortgage-backed securities held by the Company with a fair value of $41,481 and $45,249 at December 31, 2025 and 2024. The agreements are on a day-to-day basis and can be terminated on demand.

Federal Home Loan Bank advances

At December 31, 2025 and 2024, the Company had undisbursed advance commitments (letters of credit) with the Federal Home Loan Bank of $64,635 and $118,326. These letters of credit were obtained in lieu of pledging securities to secure public fund deposits that are over the FDIC insurance limit.

The advances, Mortgage Partnership Finance credit enhancement obligations and letters of credit were collateralized by certain qualifying loans of $932,939 at December 31, 2025, and qualifying loans of $885,128 and securities of $79,417 for a total of $964,545 at December 31, 2024. Based on this collateral and the Company’s holdings of Federal Home Loan Bank stock, the Company was eligible to borrow an additional $567,399 and $667,092 at December 31, 2025 and 2024.

Federal Reserve Bank Borrowings

At December 31, 2025 and 2024, the Company had a borrowing capacity of $1,863,782 and $648,183, for which the Company has pledged loans with an outstanding balance of $2,456,465 at December 31, 2025 and pledged loans with an outstanding balance of $852,957 and securities with a fair value of $9,070 at December 31, 2024. At December 31, 2025 and December 31, 2024 there were no outstanding borrowings under the Federal Reserve's Bank Term Funding Program.

Bank Stock Loan

The Company entered into an agreement with an unaffiliated financial institution and is secured by the Company’s stock in Equity Bank. The loan was renewed on February 10, 2023, with a new maturity date of February 10, 2024. With this renewal, the maximum borrowing amount remained at $25,000. Each note will bear interest at the greater of a variable interest rate equal to the prime rate published in the “Money Rates” section of The Wall Street Journal (or any generally recognized successor), floating daily, or a floor of 3.25%. Accrued interest and principal payments will be due quarterly with one final payment of unpaid principal and interest due at the end of the five-year term of each separate note. The Company is also required to pay an unused commitment fee in an amount equal to 20 basis points per annum on the unused portion of the maximum borrowing facility due on the maturity date of the renewal.

The loan was renewed and amended on February 10, 2024, with the same terms as the previous renewal and a new maturity date of February 10, 2025.

The loan was renewed and amended on February 10, 2025, with the same terms as the previous renewal and a new maturity date of February 10, 2026.

The loan was renewed and amended on February 10, 2026, with the same terms as the previous renewal and a new maturity date of February 10, 2027. The maximum borrowing amount at December 31, 2025, was $25,000.

There were no bank stock loan advances as of December 31, 2025, or December 31, 2024.

The terms of the borrowing facility require the Company and Equity Bank to maintain minimum capital ratios and other covenants. For the twelve months ended December 31, 2025, the Company was in compliance with all terms of the borrowing facility. For the twelve months ended December 31, 2024, the Company was in compliance with all terms of the borrowing facility.