Site icon MONEYINAFRICA

EQUITY BANCSHARES INC : Management’s Discussion and Analysis of Financial Condition and Results of Operations. (form 10-K)

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our audited consolidated financial statements and the accompanying notes included elsewhere in this Annual Report on Form 10-K. The following discussion contains "forward-looking statements" that reflect our future plans, estimates, beliefs and expected performance. We caution that assumptions, expectations, projections, intentions or beliefs about future events may, and often do, vary from actual results and the differences can be material. See "Cautionary Statement Regarding Forward-Looking Statements." Also, see the risk factors and other cautionary statements described under the heading "Item 1A – Risk Factors" included in Item 1A of this Annual Report on Form 10-K. We do not undertake any obligation to publicly update any forward-looking statements except as otherwise required by applicable law. This discussion and analysis of our financial condition and results of operation includes the following sections: • Table containing selected financial data and ratios for the periods; • Overview; • Critical Accounting Policies – a discussion of accounting policies that require critical estimates and assumptions; • Results of Operations – an analysis of our operating results, including disclosures about the sustainability of our earnings; • Financial Condition – an analysis of our financial position; • Liquidity and Capital Resources – an analysis of our cash flows and capital position; and • Non-GAAP Financial Measures – reconciliation of non-GAAP measures. 58 ——————————————————————————– Years Ended December 31, (Dollars in thousands, except per share data) 2021 2020 2019 2018 2017 Statement of Income Data Interest and dividend income $ 157,368 $ 155,561 $ 175,499 $ 161,556 $ 102,693 Interest expense 14,789 22,909 49,641 36,758 16,691 Net interest income 142,579 132,652 125,858 124,798 86,002 Provision for credit losses (8,480 ) 24,255 18,354 3,961 2,953 Net gain on acquisition 585 2,145 – – – Net gain (loss) from securities transactions 406 11 14 (9 ) 271 Other non-interest income 31,851 23,867 24,974 19,734 15,169 Merger expense 9,189 299 915 7,462 5,352 Goodwill impairment – 104,831 – – – Loss on extinguishment of debt 372 – – – – Other non-interest expense 109,904 103,860 98,720 86,925 62,111 Income (loss) before income taxes 64,436 (74,570 ) 32,857 46,175 31,026 Provision for income taxes 11,956 400 7,278 10,350 10,377 Net income (loss) 52,480 (74,970 ) 25,579 35,825 20,649 Net income (loss) allocable to common stockholders 52,480 (74,970 ) 25,579 35,825 20,649 Basic earnings (loss) […]

Stay in the Know!

Sign up for the latest news and information on African Companies and Economy.

By signing up, you agree to receive MoneyInAfrica offers, promotions and other commercial messages. You may unsubscribe at any time.
Exit mobile version