EQBK - Earnings call transcript Q1 2022

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Operator

Good day and thank you for attending by. And welcome to First Quarter 2022 Equity Bancshares Earnings Conference Call. At this time all participants are in a listen-only mode. After the speaker presentation there will be a question-and-answer session. [Operator Instructions]. hand over to today, your like Navratil. Chris now the to conference host I’d ahead. go Please

Chris Navratil

quarter And at morning. call discussion our via to include conference for are call clicking which a Presentation available first the accompany of tab. our presentation for Good and you by will thank download joining PDF results. slides investor.equitybank.com XXXX Equity Bancshares presentation

to event also for today's investor.equitybank.com click at player. the icon view may webcast You posted the call

player, regarding please this automatically may viewing you From today's webcast actual may within will Slide on If call time-to-time, statements that call not results note our vary. advance. one are slides including forward-looking we reference Please forward-looking and important make information statements.

discussion. like all that, CEO Following us. With turn Thank to Brad joining the our we and you Elliott. allow presentation, for Chairman I'd will over time it to for and further questions

Brad Elliott

your call Thank Equity Bancshares. you, joining for Chris, our you and morning. in interest Thank and good

Chief Greg quarter. Joining me the the we in is our pleased showed I'm Craig operating Eric and CFO; trends with Newell, Kossover, President, Anderson. our Operating our Officer;

both $X.XX were discuss a loan was net few per expectations. EPS With consensus income, strong and will reported earnings Our strong and growth interest versus share $X.XX and our very Eric of surpassed excellent minutes. in

work has improvement with and a credit hard yielded Our quality classified significant assets. decrease in non-performing our

asset Almena the or all of mergers This Bank payoff ratio. criticized State in in assets. and disclosed American elimination purchased And improvement. meaningful saw credit, resulted and in aerospace of reduction previously credits related both some our Our disposition a through our cases,

year role of of and area. our our team in the has management area. counsel credit [indiscernible] We addition teams is special expanded by this a of assets continued process transformed This this personnel's reflection ago a execution

introducing trends. to to add stream. services products on of years focus continued After improving Our continue see income our improved several new to and and businesses fee-based we

businesses. these many in phase just beginning the We of of are

the So Andrew our retail is eye of and operating looking of the to start our declared very operations committed network Christian automate measures Humphries, downward continue ways commercial it teams these to ITM with increasing And We quarters. our and our on the repurchase and are were to in of to always dividend next well ways an take watch We to first at capital also. a stay positioned find staff We'll Morris, teams processes. pressure program quarter. We quarter Ben common in leverage. our Musgraves, management advantage positive and uncover financial on implementation over stock sales. stocks encouraging several expenses to all our keep stock

take many We but Craig, I for areas we'll through Eric and positive about. other XXXX. then have I and talk you to will those leave of let to numbers some some focus Greg the you walk Eric other through note, the will items of of for

Eric Newell

merger Non-interest quarter Thank a Last we benefit $XX.X and costs earnings diluted good and expenses to to interest I million XXX,XXX share. linked of core million you, the X.X To of in XXX,XXX core decreased of less non-interest and fee this third or the of income reported of peak recognized EPS XX.X last net first decreased million. quarter $X.XX we income million per earnings Brad slightly to year. $X.XX X night share. We per remove diluted to recognized that reconcile and to in quarter of expenses compared X.X quarter, GAAP [indiscernible] linked be calculate morning. income note quarter merger XXX,XXX. PPP million

our pleased financial given contribution its are and earnings. quality is about But results our minimis now contribution to last PPP of excluding the from its eight de been quarter We for numbers, our first the we haven't improved core quarters.

benefiting economic We GAAP The $X.XX. NIM, net in the XX.X here the our loans. level let talk environment expense of loans stop is continued loans an is normalized in non-PPP previous loans. of XX against per approximately The of X.XX%, times, by points we reserves components million includes March of EPS the I'll reflected of to credit calculation. qualitative normalize $X.XX for for analyzed totaling being at a our the release expense annual impact stimulus XX XXX,XXX. was and The and of ACL coverage share, measures of The a basis with of on on the is coverage provision for out get and consensus the to primarily and at asset the from normalize Our that X.XX%, an our uncertainty average ACL beats and one release million. ACL Greg moment did of for to XX.X allowance entirely a quarter, specifically income losses economic down on If provision driven line basis, the through the unfunded quality net the quarter. Greg. beat are economy previous zero consensus decline which held the

Greg Kossover

Eric. Thanks,

Overall, asset went participated tied remains on above declined anticipated we $X.X of and that There quarter-over-quarter, is largest of to quarter assets, first stand the aviation to resolution basis now which was just million. at at $X.X smaller million total an this of one it points lowest the relationship since the declined Equity fourth Banks non-accrual where assets of total other loans sold loans, quarter XX we approximately marked. public. in portion level and XXXX 'XX price during the earnings As our of attractive million call, $XX repossessed was based the

the ratio teams, credit a basis assets now required remaining participated reminder, special up Eric asset the just lower teams I'm ratio charge for proud points. and to aviation has repossessed annualized. were by and gross ACL be our are would evaluating constantly a of work have these for GAAP upgraded Without and loans hard non-PPP X.XX% muted the driven we are assets net five classified non-accruals report that by The the that basis offs credit, as XX%. approximately As acquired as through improve. status discussed credits our of at of XXX of mostly points is

ratio done expect we continue this in mergers. in to Eric? And the face the see this have acquired in as great decline driven assets improvement we pandemic. to classified We by of uncertainty

Eric Newell

Greg. it's Thanks, about commenting general our I do think worth reserve.

in quarter, We we While during build reserves. asset improvement resulting in specific reserves. had large of significant release quality to our ACL general did the a

starting to experience, replaced experienced Craig, don't coupled our the of headwinds pandemic assessing our in with general the over with we COVID yet the disruption the geopolitical quarter. or are entirely we in have that why customers landscape, thoughts our quarter, start measures take been in stimulus public some as from believe portfolio the loan And general part our on risk safety you place inflation, difficulties during The great has last through the situation. been But as concerns. supports lifted. assessing the and that model the concern pressures our supply everyone significant inflationary we chain a economic uncertainty economic our and slowdown, saw of uncertainty benefit During cost quarter input quarter? an of since in XXXX, these acknowledged your by customers to see into build that specific input the presents reserve escalation landscape, drives To customers well during reserving. due largely the as experience the pumped economy of the be any to the clear, we've growth important first that

Craig Anderson

in half originating commercial, quarter helped in Eric. in of I XX growth of successful Thanks, a PPP notch million These the am loan Organic the loans originations the and or of in was XX% CRE balances, loans. the agricultural quarter. have our proud of first million. excluding million, linked work resulted loan the annualized. teams in originations that last totaled in year. That quarter, were over When quarter very put XXX the XXX us total first change loan the sales growth XX.X% second

renewed our to We on have focus market. speed

get uncertainties. a on attention and to programs assist we helping couple our challenges turned rightly customers Thankfully, lending last the our corner. Street of to Over pandemic-related with PPP years, and focused have access was Main

match. better it our customers, their with our to better more cannot And underwriting make sales provide and focus allows credit loan on ways By solutions yet, enhance businesses competition processes, to working our customers to advisors successful. that our trusted our and and shared are finding service find automate products we teams further helping and prospects to process. being We our streamline them to administration teams a to the service

income show fourth very Our decline but positive quarter, news. the is some from this did modest fee clouding a

quarter. the is the crop we insurance First, not and repeatable seasonality fourth quarter sales in in first have our peaks in that

the similar declined debit spending. and revenue banking slower mortgage generally mortgage linked card Commercial winter. a to and of credit growing to season modestly of selling some quarter contribution the experienced was interchange rising with seasonality Second, the despite typical in quarter this rates due card

emphasize marketing is build platform We through campaigns. our nearly card putting of The hands to of driving commercial in debit utilization our cards clients continue HSA the out complete.

advantaged employees growing will and healthcare tax We accounts that flexible team contribute a our spending needs. pipelines fee to this through will use that brokerage service other income us account and time have HSAs In option. that allow their interchange services developed has

region recruited bank. leadership excited changes spent has national that that We much working leader his in have very Tulsa regional We recently a career had in the two top our a new for I region for am of about.

continue footprint internal Western its in Kansas supporting leadership Southeast an We prior northern our about experience successfully efforts are and was his His excited sales to and Tulsa retail to Eric? lead develop in Kansas Oklahoma. contribution and network our also our potential our enhance southwest results. promoted Missouri, We've region. candidate to to

Eric Newell

Thanks, XX.X representing the increase. increasing million million the million quarter Craig. first XX.X totaled a in Net income linked in from X.X interest quarter,

comparable NIM to X.X%. income portfolio quarter, in the excluding one-time quarter in period. improved XX our first Slowed basis impacts loan yield in investment the quarter benefit add from X.X in the premium both and PPP previously We XX non-accrual points a in approximately the PPP a moved of accrual. million benefit first loans basis periods interest approximately quarter X contributed When yield increased in being points amortization excluding the points. basis During from to to the portfolio, increased linked the

basis totaled quarter. basis loan fee two fees experienced Origination quarter Our compared the income end, we XX.X first quarter points to declining rising fees and million. income X.X We down ensuring from rate has points continuing the to of the is associated improvement, proactively loans interest from interest a on to unrecognized benefited for PPP environment. XXX,XXX of of by in fourth continued also in by basis million we balance recognized At team quarter. had fourth related first loans quarter. five NIM focused fee was recognized The the in as liabilities fourth quarter, forgiven loans, decrease. XX,XXX XXX,XXX position been income PPP points the PPP the with bearing from which net PPP XX sheet

the part to fixed that swapped out from been priced of of the yields end to years increase variable to years. Over seen XX loans originating We've last further in rate customers about a the of rates the advantage of were front took significantly we've the We for accept than be portfolio in quite curve. variable two causing recently higher. three months, is a steepness some year opt that two conservative to because record our recently on fixed curve the five and

our counterintuitive, deal expects, currently that will and was as the seem market event, that In rise of don't a may interest that analysis our the While to do great NIM. we capture benefit value rates modeling better. there even showed

decline markets rational, with very competitive moderate NIM in There quarter. lag our second any the us rate which allow some community in in show the number does cost funds. slide outlook landscape Currently, conservatism should to that uncertainty is of in increases. to some Our due our remains

a observers However, point alter follows if think with may as May, market in could basis happen, on competitive FOMC it June, landscape increase through some the XX rates. the even and

yields. XX was renewal about origination basis the we're quarter, On which improvement quarter's and XX% points C&I side, in first the yields in of asset the origination volume. seeing increased origination

assets yields premium from said, yields. loan from in in expect portfolio, to move And assist earning investment portfolio. portfolio which investment have We the to will we're to as assist I working in slower, portfolio amortization remain prior higher that calls, in away the Brad? asset which should

Brad Elliott

mid return our out in goals on on improvement the on XXXX. point progress for a like were teens. We equity I'd tangible saw our goal operating strategic focused of continued to our the progress achieve and performance. first the We to in quarter

continue greater We our our efficiency. look as credit out as towards increase, tailwinds mix. in We existing excess provides base. state-of-the-art fee ratio balance selling loan to growth us mentioned loan I drive which as well to excited before We're opportunities help operational increase client cross sheet for revenue opportunities liquidity commercial on deposit saw HSA our our our reduce will our to platform clients, income HSA to and build about business, from our to the and of municipality and

credit product commercial card its and fee Our contributing momentum continues positive income. to

are looking We for of as increasing mix. add our to several goal support our other our to Eric? services revenue will of of products fee suite customers opportunities at that a our income and part

Eric Newell

XXXX. remainder earnings which I to will wanted to specifics put deck, turn of your the forecast our upon slide the some on attention for expectations the

on driving revenue mix, dependent in and last to pre-tax on investments driving the deposit we pre-COVID. operational critical excess ratio off pre-provision goal Brad? This cash leverage to is from levels our the is to in markets contribution serve. mix, factors of Successfully loan the As return long-term our our improving that goals increasing Brad and mentioned, liquidity our to portfolio expense improving we economic part unchanged, to base positive remain saw assets. loan shifting our

Brad Elliott

stay goals emphasize, geographic act our financial We're to continues different really our in assist our to conversations and organization. and strategic back, will progress banks with we that be Equity partner about complement Provided willing companies as earned ready in equity requirements to fit, true on cultural and active partnering. a making that to to several fit. they profitability stated as fit

footprint digital happy your growth experience improving for We And we're on organic focus take our branch will while with we'll opportunities to maintain for always, as our efforts. And that, rationalize the customers. look to questions. our

Operator

from comes McEvoy Our of Stephens. question first from Instructions] line [Operator Terry the

may You begin.

Terry McEvoy

mean kind the to through but with question. event to you specific us both would you just sides couple to Hey, May, of touched kind this balance the maybe outlook a guys. Eric, likely Good margin? of raises in morning. sheet can start what ran XX and of your just points Maybe, rates to see. know through on just interest If that Fed an quarter basis think the want of a walk you net be And we'll I slide things, in and

Eric Newell

I'm so customers funding the on fairly now don't have be Yes, impact, And a only our product, to have they're fee deposit of that that see there a might lot hoping relationship would XX-basis ratio, weed we right particularly the point changed. again, be loan yet. And contributes that I or we'll do competitive been with liquidity in and But with or to pricing mean, markets looking of given minimal. customers that that us, are income. would even at, they on we if sensitive, have be haven't with we that we side, dependence not continue irrational the for the one I increase, a wholesale seen a let have We funding, or might providing using think, service that don't some but that lot a relationship them. here letting our we that fee really bank, income rate with has a

obviously expectation we've asset pop a model. the we of model, use on goes based our pricing up everything side, seen And through that on already On rates loan I think -- the market increases.

of in quarter about the And points in examples terms that the fourth our what prepared origination. of in my higher been seeing XX there, basis in so originating, fourth, versus commentary quarter being been was first we've C&I, we've already one the

a all lot we'll think them. fairly I don't if just a I movement right that have know it'll balanced be we're putting at of where So, from now. together, that

Terry McEvoy

you I as of you're maybe, the having conversations Thank could you you. potential well? with you How maybe about have gone And, but guess that expectations Brad, conversations changed, talked pricing partners. inflation? to up, And and maybe rates as partners M&A uncertainty just some if also talk as a have to you. are follow Thank potential up, maybe balance the economic with then size

Brad Elliott

or how an to modeling would have some a conversations the We've what back. Yes. three on And tell box, stages. is have got everybody they and to have how are I that going earn and in understands in They work fit are with we four you on side. other active organizations, they bankers sophisticated on good

for line deals are portfolio which work best get I So, question cleanup We right just was The is, think sizable expectations in fairly ones brings in deal. where to passed of to we to had a need still. be That things the lot said, it on fit, strategic the opportunities which us. us? ones a are with And done. the

just take in we this of so right thought, time wasn't to time the the into cycle, that it opportunity. And

passed we've that. on so And

to So we do move think fit we're at, needle for strategic shareholders. looking has then, and fit it still, our the us it will economically. And

Terry McEvoy

that. Appreciate both. you Thank

Operator

comes next Davidson. of Our line From from Jeff Rulis question DA

open. Your line is

Jeff Rulis

morning. Good Thanks.

a follow slide, kind the growth as average the so and well the guide kind couple of ups balances. loan Just on outlook of the --

low Where that competition uncertainty out? pressures? kind you of loans. of those outlook some and absence price Could end X If end on of or is of we in sort X, the -- could low maybe X plays high four sort the at up assume high economic Thanks. of end frame the just average side low the the X, there the to billion is other of and sensitivity three, kind

Brad Elliott

just full so actual kind three that's first average for with the account Yes, that year two into taking average balance is -- of a a quarter. nuance the

expect bit right are I going from an little a don't of would shrink have wouldn't expectation we're nuance to that I loans now. that, where at a that's So we our say there.

the there the look for from I think to the average more gets which into probably growth growth. the stronger midpoint for about I than think towards where where that we're would I midpoint, XXX is I started our at we looking of X% if think where I at year, end we're X% using think XXXX, Coming to expectations. little another bit year, a annualized which it So more

Jeff Rulis

it. Got

if uncertainty low the the that on three, first conservative that flatline, so again, okay, just what push average, down? you of kind the of would exiting that's kind if So economic that two, true of it providing reason is for is right, end, quarter, you're just kind

Eric Newell

a That's fair Jeff. Yes. statement,

feel of based on and year that. the know, good see remainder what our we pipelines. we we The about now, what Given,

if However, in again, of points of uptake couple the quarters, the alter market of moment. the XXX, at here we're basis not the Fed and moves our customers. But XXX that the dynamics seeing that next could

Jeff Rulis

And average to you year. it XXX sort clarify out and full that both to QX no of the Eric, that for of Sure. assumes three rate end to an hikes? there? Can further expectations guide, Or margin assumes

Brad Elliot

we're Yes, feature in -- into not rate rate our really build don't hike we hikes modeling.

like So the Fed however or hikes -- put we not in there. our expected we is expecting what the like like market on it's many were is that -- not not it's rate

For coalesced is the second going quarter seems that May. in move outlook, has though, I fact the market that mean, like the around to it

question. with on Terry, looked talked So, some about I at we his have to and modeling that

our of So, that , rate little outlook. I bit there's an hike in a QX, expectation in much but of beyond so not think that probably

Jeff Rulis

apply quarter year, view buyback that sort the change and to first just But Okay. up to to that appetite, firm Got Thanks. authorization? further extending and you again, -- balance the of the wanted if just wanted activity, get maybe you I you've of appetite and to the of I of got the of what remaining maybe one. for I increasing last sort you're end it. the of board's -- view change. authorized, the valuations or environment that your know to Maybe

Brad Elliot

tools. our think board markets I the and markets the capital Yes, understands of use capital

wouldn't have I in do board I as have available using see were available and foreseeable it's not a be buyback unless and increase always But that in long can't stock regulatory all so for the And have the available an as see earnings shareholders. buyback appetite help anytime a we when for where thing open we our purpose. we can't an standing allowed wouldn't share right to to that ever prudent. will authorization some But to per future doing

Operator

Our next Group. from question [indiscernible] will come

is line Your open.

Unidentified Analyst

hand guess and XXs good and, know talk ag first growth. to at dualization in guys, farmers and XXs be markets making Looks the ag in they're looking as poised how in other talked long about one the just they're general ag Hey, then business we've morning. loan, the the pieces might money fist you're pipeline of it's Wanted update Any -- for and been what I demand the in it's what I about usually the over on more the like

Eric Newell

the this and of The cash. turn -- And our of Craig. part still ag is sitting over is down, positive are our it of customers take of of on lots ag which remains a lots the utilization standpoint I'll cash. are question to sitting with from rest customers

grain lines of prices also that's in puts the healthy not the And of But sales they're flexibility. it is the change -- the of them lots utilizing in going going from gives position a are positive standpoint are up commodity now, prices the very and up. credit. input We Right them prices. There so a think faster.

they're again year. of at crop. they're sell And of so, that all to forward point, a some pace on And lot to money make this starting this

uses We have irrigation. where in very stable a crops are we area, place in because our

as on not places. dependent as other we're So Mother Nature much

And for also us. bodes so I think that well

our question. good Craig second so shape. let that And are in take of ag part I'll the guys

Craig Anderson

able in were quarter CRE large And The opportunities. of our win QX. of Wichita a C&I driven first results very transaction Kansas both in growth activity significant City, we then loan and couple were to had a by Yes. primarily we significant very

area, starting the the the portfolio. from middle focus a markets consistent that pipelines very to northern Kansas of market we've Southeast our been and so significant in strong, Our opportunities very Oklahoma Missouri, increase kind to now continue our four primarily probably very, excited and credits, very to about smaller And particular over some loan nice where our are community they're our right there's with last see in of kind lift Western on territories. quarters,

Unidentified Analyst

Okay. to some around an update on back then, get the and wanted side, the -- the that on And helpful. to think might of be margin I get based That's conservatism funding hear higher rate a maybe changed? of guys the on MMDA, what on thoughts are anticipating beta sensitive thinking money more -- so or maybe that XX% pieces beta, on market, has this And you any funding mix? on

Eric Newell

I be Yes, with that question your or agree statement driving what conservatism. on could

been lot community within So, in again, we've the there. a just rational side. of of a think terms lot liquidity there's I out seeing pricing of our on markets And deposit competition

across I of deep, have just you so that are the let if looking street. us, customer go same to competitors or relationship any willing that other And -- some that way we're with really product, doesn't a we at the probably have a think, have our are, than

quarter. in I been June. experiencing that once, first basis might so have could in observers be XX I'm Fed But market the that little And points think moves, but a some that of another so follow up there concerned about not once, the do we here the are thinking if

now. dynamics some the reason So of could And the on rise to time. in you conservatism think and I points some of right the alter up a pretty there short betas would that think much basis for have XXX that period it cause sums of the do from the where we're very that on the NIM. seeing I

Unidentified Analyst

maybe having color real on lastly, and just still current aerospace and here of the provisioning C&R credit. commercial nice forward? the be you book to just --specifically having for about you and like have potential address then, the to are and from to here, now, estate leverage the in going us and was reserves It some credit like portfolio And you guys seemed from on the around wanted Okay. light. leverage could talk it any decline continuing low was see here, possibility it classify the a provision Can dynamics me, the assets pretty give from

Brad Elliot

we kind Yes, is like budget for budgeting we my, growth. of were I say we what would kind of

some no loan perspective, might you're as in knock growth. it, expect explained So be the drive for we and further wood, but, from a of improving seeing might right leverage terms credit we Originating losses asset have continue quality, historical in which how would on that to you

budget so the basis an why that's XX we one points about on And annualized loans, basis the for reasons of average through on year.

did that in So comments, we quarter, so talked really first repeat yes, lot about. myself, walked what I we here that that. driven But I have what the with which on did and Greg was have prepared my but through will release a by happened

forward, would really So on would points actually going provision again, basis I basis. I an probably say XX that put of annualized

Unidentified Analyst

Okay, great. Appreciate all the color.

Operator

[Operator from Instructions] Our Chandler. next question Andrew Liesch from Piper

may begin. You

Andrew Liesch

morning. Good guys. Hi,

following question here. last of up kind this Just on

qualifying in should event, forward. that's and still of what and be reserve quarter, the is of a more building the points you're XX seeing here the first the economic using basis just going factors from we currently off So more for one

down one caveat Just these line? may provisions assuming that or one the another be there's of that of with the

Brad Elliot

Yes, at coverage look from I a of it kind perspective. I mean,

basis basis my non-PPP uncertainty XXX look at that we're our modeling, close expect coverage based a points. our it to landing. in talked I hovering So would ACL that to if anchor we're stay where It's be prepared points happens you just commentary. not would pretty I to in around certain seeing in loans, based on how we're the on the XXX about economy what

further that points just XXX. basis expecting to XX around that maintain So is the growth

Andrew Liesch

would That little million That's to conservative And get year? on but outlook this what Okay. the helpful. then slide I guess just what, looks there. on guide, expense a high the for on $XXX expenses the end, to happen

Eric Newell

the contributor is biggest expenses our people. Well, to

growth. a a some been our think wage on think done job limiting in of we've of that And really we've there's that I good I here. pretty a done lot the -- job limiting -- good attention in

to something be I up our between We And and point, But of increase, X% we're expecting that think X% could if respond we're that need you know, we get numbers. XXX. currently at an that's to won't to perspective, to growth. source of that not a but this we one uncomfortable budgetary from that. in had to, feeling

Andrew Liesch

it. Got

Okay, questions that's have and Thanks other helpful. My so been answered. asked much.

Operator

KBW. question from our come next the line Damon from DelMonte And will kg of

Your line open. is

Damon DelMonte

good for well question. taking doing today. Hey, everybody's guys. morning, Thanks Hope my

just, So loan talk dynamics want outlook. broader of about any with economies? kind in chain just kind you geopolitical the a slowdowns concern major a there your any picture that bit seeing the your market little local of and issues maybe supply broader just of you areas some seeing anywhere? risks Are bigger end? impacting on the of Can you're Is be on to growth could

Brad Elliot

we don't. of slowdown don't we this At point, in Yes, a marketplace. our lot see

our oil and some dependency. So gas has region

with doing at so $XXX, well. markets and doing gas Arkansas Missouri the is Kansas retail. And incredibly driven incredibly are Oklahoma oil being well by

trucking JB our know, Walmart the you And is everything doing so Now, marketplace and technology down effect in Hunt's you, there. well.

uplift some backlogs that have We industry. now huge industry. from in the right aerospace There's

There point. back demand but chain issues chain good at to ability the are produce are jets holding there's, some issues, that supply supply So on this the side. just more

think? in that you now problems of the we So our indicators any right do have or economy really don't slowing any any place,

Eric Newell

in Yes. also geography, sizable embedded there that you listen of pretty say, what's Brad's commentary, Damon, I in amount even four-state diversity. And a would to is, as is our

it's very a a than healthy, propped up is different is little Kansas different economy. and So a Tulsa. than City's economy Western by Kansas, little ag healthy Wichita is really

in some our with in our So blessed basis economic we're having diversity footprint.

Damon DelMonte

it. Got

quarters, other with and Is that. appreciate was you that there confidence other non-interest it than the last I then, say. is to income, Okay. anything think I of range guess answered. been have fee $X than quarters, regards and most lot in in that couple higher earlier low million of Eric, should That's guess repeatable? there helpful. I questions has the been previous my income quarterly appropriate. the being don't do line the have in a asked -- And I Or something you

Eric Newell

high think appropriate million going X is I the X low forward. million,

positive in benefit there for and us. mark-to-market rates. things is with of One That's that is to the derivatives higher a

Damon DelMonte

it. Got

had. I guys. all That’s Okay. Appreciate lot it. Thanks right that’s a helpful. All

Operator

first time. Thank at no and you. further And day. ladies Bancshares a Have questions presentation. will great This our Equity this I’m gentlemen, quarter conclude showing

Equity Bancshares (EQBK) 20 Apr 222022 Q1 Earnings call transcript