Name: EQUITY BANCSHARES INC Segments Disclosure
Creator: EQUITY BANCSHARES INC
License: https://creativecommons.org/publicdomain/mark/1.0/

NOTE 23 – SEGMENT REPORTING

Equity Bancshares, Inc. is a financial holding company, whose principal activity is the ownership and management of its wholly-owned subsidiaries, including Equity Bank (“Equity Bank”). As a community-oriented financial institution, substantially all of the Company’s operations involve the delivery of loan and deposit products to customers. Management makes operating decisions and assesses performance based on an ongoing review of these banking operations, which constitute the Company’s only operating segment for financial reporting purposes.

The Company’s chief operating decision maker is comprised of the executive leadership team. For Equity Bancshares Inc., the executive leadership team uses gross profit and profit or loss from operations before interest and income taxes to allocate resources for in the annual budget and forecasting process. The chief operating decision maker considers budget-to-actual variances on a monthly basis for profit measures when making decisions about allocating capital and personnel to the operating segment. For Equity Bank, the executive leadership team uses net-interest income and non-interest income to allocate resources (including employees, financial, or capital resources) to that segment in the annual budget and forecasting process and uses that measure as a basis for evaluating lending terms for customer loans.

The following tables present information about reported segment revenue, measures of a segment’s profit or loss, significant segment expenses, and measure of a segment’s assets as of December 31, 2025, 2024, and 2023. The Company does not allocate all holding company expenses, income taxes or unusual items to the reportable segment. The following tables present the reconciliations of reportable segment revenues and measures of profit or loss and line item reconciliation to the Company’s consolidated financial statement totals.


				Unallocated Holding
				Company
	Equity Bank			Amounts			Eliminations				Total
Year Ended December 31, 2025
Interest and dividend income	$	330,598		$	237		$	—			$	330,835
Interest expense		97,533			7,221			—				104,754
Net interest income		233,065			(6,984	)		—				226,081
Provision (reversal) for credit losses		8,953			—			—				8,953
Net interest income after provision (reversal) for credit losses		224,112			(6,984	)		—				217,128
Non-interest income
Service charges and fees		9,321			—			—				9,321
Debit card income		11,414			—			—				11,414
Mortgage banking		567			—			—				567
Increase in value of bank-owned life insurance		7,717			—			—				7,717
Net gain on acquisition and branch sales		—			—			—				-
Net gain (loss) from securities transactions		(53,174	)		—			—				(53,174	)
Other		8,125			33,239			(33,237	)	(a)		8,127
Total non-interest income		(16,030	)		33,239			(33,237	)			(16,028	)
Non-interest expense
Salaries and employee benefits		84,642			144			—				84,786
Net occupancy and equipment		15,801			—			—				15,801
Data processing		20,268			11			—				20,279
Professional fees		5,651			816			—				6,467
Advertising and business development		5,228			—			—				5,228
Telecommunications		2,462			—			—				2,462
FDIC insurance		2,579			—			—				2,579
Courier and postage		3,235			—			—				3,235
Free nationwide ATM cost		2,204			—			—				2,204
Amortization of core deposit intangibles		4,503			—			—				4,503
Loan expense		890			—			—				890
Other real estate owned and repossessed assets, net		1,019			10			—				1,029
Loss on debt extinguishment		—			1,361			—				1,361
Merger expenses		5,847			2,218			—				8,065
Other		16,340			(509	)		—				15,831
Intersegment service charges		(1,500	)		1,500			—				—
Total non-interest expense		169,169			5,551			—				174,720
Income (loss) before income tax		38,913			20,704			(33,237	)			26,380
Provision (benefit) for income taxes		7,071			(3,417	)		—				3,654
Total segment profit/(loss)	$	31,842		$	24,121		$	(33,237	)		$	22,726

(a) Elimination of equity in earnings of subsidiary


				Unallocated Holding
				Company
	Equity Bank			Amounts			Eliminations				Total
Year Ended December 31, 2024
Interest and dividend income	$	296,359		$	484		$	—			$	296,843
Interest expense		103,014			7,667			—				110,681
Net interest income		193,345			(7,183	)		—				186,162
Provision (reversal) for credit losses		2,546			—			—				2,546
Net interest income after provision (reversal) for credit losses		190,799			(7,183	)		—				183,616
Non-interest income
Service charges and fees		9,830			—			—				9,830
Debit card income		10,246			—			—				10,246
Mortgage banking		861			—			—				861
Increase in value of bank-owned life insurance		4,966			—			—				4,966
Net gain on acquisition and branch sales		2,131			—			—				2,131
Net gain (loss) from securities transactions		(74	)		294			—				220
Other		10,567			61,562			(61,561	)	(a)		10,568
Total non-interest income		38,527			61,856			(61,561	)			38,822
Non-interest expense
Salaries and employee benefits		72,621			165			—				72,786
Net occupancy and equipment		14,371			—			—				14,371
Data processing		20,003			1			—				20,004
Professional fees		5,642			861			—				6,503
Advertising and business development		5,365			1			—				5,366
Telecommunications		2,501			—			—				2,501
FDIC insurance		2,483			—			—				2,483
Courier and postage		2,599			—			—				2,599
Free nationwide ATM cost		2,127			—			—				2,127
Amortization of core deposit intangibles		4,289			—			—				4,289
Loan expense		601			—			—				601
Other real estate owned and repossessed assets, net		967			(8,492	)		—				(7,525	)
Merger expenses		3,893			568			—				4,461
Other		13,921			(330	)		—				13,591
Intersegment service charges		(1,440	)		1,440			—				—
Total non-interest expense		149,943			(5,786	)		—				144,157
Income (loss) before income tax		79,383			60,459			(61,561	)			78,281
Provision (benefit) for income taxes		18,916			(3,256	)		—				15,660
Total segment profit/(loss)	$	60,467		$	63,715		$	(61,561	)		$	62,621

(a) Elimination of equity in earnings of subsidiary


				Unallocated Holding
				Company
	Equity Bank			Amounts			Eliminations				Total
Year Ended December 31, 2023
Interest and dividend income	$	246,082		$	630		$	—			$	246,712
Interest expense		80,016			7,678			—				87,694
Net interest income		166,066			(7,048	)		—				159,018
Provision (reversal) for credit losses		1,873			—			—				1,873
Net interest income after provision (reversal) for credit losses		164,193			(7,048	)		—				157,145
Non-interest income
Service charges and fees		10,187			—			—				10,187
Debit card income		10,322			—			—				10,322
Mortgage banking		652			—			—				652
Increase in value of bank-owned life insurance		4,059			—			—				4,059
Net gain on acquisition and branch sales		—			—			—				-
Net gain (loss) from securities transactions		(51,909	)		—			—				(51,909	)
Other		7,559			15,902			(15,901	)	(a)		7,560
Total non-interest income		(19,130	)		15,902			(15,901	)			(19,129	)
Non-interest expense
Salaries and employee benefits		64,227			157			—				64,384
Net occupancy and equipment		12,325			—			—				12,325
Data processing		17,433			—			—				17,433
Professional fees		5,175			579			—				5,754
Advertising and business development		5,425			—			—				5,425
Telecommunications		1,962			1			—				1,963
FDIC insurance		2,195			—			—				2,195
Courier and postage		2,046			—			—				2,046
Free nationwide ATM cost		2,073			—			—				2,073
Amortization of core deposit intangibles		3,374			—			—				3,374
Loan expense		540			—			—				540
Other real estate owned and repossessed assets, net		617			—			—				617
Merger expenses		—			297			—				297
Other		17,678			(503	)		—				17,175
Intersegment service charges		(1,352	)		1,352			—				—
Total non-interest expense		133,718			1,883			—				135,601
Income (loss) before income tax		11,345			6,971			(15,901	)			2,415
Provision (benefit) for income taxes		(3,311	)		(2,095	)		—				(5,406	)
Total segment profit/(loss)	$	14,656		$	9,066		$	(15,901	)		$	7,821

(a) Elimination of equity in earnings of subsidiary


	For the Year Ended December 31,
	2025							2024							2023
	Equity Bank		Administrative Adjustments			Total		Equity Bank		Administrative Adjustments			Total		Equity Bank			Administrative Adjustments			Total
Depreciation	$	6,122	$	192		$	6,314	$	5,391	$	180		$	5,571	$	4,553		$	156		$	4,709
Amortization of operating lease right-of-use-asset		491		—			491		475		—			475		604			—			604
Amortization of cloud computing implementation costs		82		—			82		138		—			138		188			—			188
Amortization of intangible assets		4,783		—			4,783		4,408		—			4,408		3,518			—			3,518
Purchase of long lived assets		13,780		—			13,780		12,542		—			12,542		15,762			92			15,854
Provision (benefit) for income taxes		7,071		(3,417	)		3,654		18,916		(3,256	)		15,660		(3,311	)		(2,095	)		(5,406	)


	December 31,			December 31,
	2025			2024
Assets
Total assets for reportable segments	$	6,322,637		$	5,316,222
Holding company administrative adjustments		848,320			703,685
Elimination of bank cash and equity in earnings of subsidiaries		(40,544	)		(107,522	)
Elimination of investment in subsidiaries		(757,241	)		(580,338	)
Consolidated total assets	$	6,373,172		$	5,332,047

Historical Timeline

Fiscal Year	Filed
2025	Mar 6, 2026	Showing above
2024	Mar 7, 2025

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

EQUITY BANCSHARES INC Segments Disclosure

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