Equity Bancshares, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total interest income and dividend income of $29,808,000 against $18,307,000 a year ago. Net interest income was $24,589,000 against $15,663,000 a year ago. Income before income taxes was $7,472,000 against $981,000 a year ago. Net income allocable to common stockholders was $4,274,000 or $0.31 per diluted share against $417,000 or $0.04 per basic and diluted share a year ago. Return on average assets annualized was 0.60% against 0.09% a year ago. Return on average equity annualized was 5.02% against 0.81% a year ago. Return on average tangible common equity annualized was 7.41% against 1.28% a year ago. Book value per share was $25.62 against $22.09 a year ago. Tangible common book value per share was $17.61 against $16.64 a year ago. Tangible book value per diluted common share was $17.29 against $16.37 a year ago. Adjusted net income allocable to common stockholders was $4,501,000 against $518,000 a year ago. Mergers and acquisitions expense, adjusted for income taxes, hurts earnings and EPS by $2.1 million in the quarter or $0.15 per share. Because the company has a deferred tax asset, it must record the reduction in rate for the future benefit, hurting earnings by $1.2 million and $0.10 per share. Fourth quarter earnings and EPS reconciled for these items are $7.6 million and $0.55 per share.

For the year, the company reported total interest income and dividend income of $102,693,000 against $61,799,000 a year ago. Net interest income was $86,002,000 against $52,597,000 a year ago. Income before income taxes was $31,026,000 against $13,869,000 a year ago. Net income allocable to common stockholders was $20,649,000 or $1.62 per diluted share against $9,373,000 or $1.07 per diluted share a year ago.

The company provided effective tax rate guidance for the year 2018. The tax reform reduces its 2018 estimated federal effective rate to about 18%, resulting in a total income tax rate of about 22.6% when including an approximate state rate in 2018 of about 4.6%. This 2018 estimated total effective tax rate of 22.6% compares favorably to the 2017 total effective tax rate of about 33.4%.