Company will acquire KansasLand Bank, add
Western and Central Kansas locations
Equity Bancshares, Inc. (NYSE: EQBK) (“Equity” or the
“Company”), the Wichita-based holding company of Equity Bank,
announced today its entry into a definitive merger agreement with
KansasLand Bancshares Inc. (“KansasLand”), the parent company of
KansasLand Bank in Quinter and Americus, Kansas, adding two
locations to Equity Bank’s current network. Equity has one bank in
Quinter, and two locations in Topeka, northeast of Americus.
“We are proud to work with KansasLand Bank to add two new Equity
locations in our home state of Kansas,” said Brad Elliott, Equity
Chairman & Chief Executive Officer. “These regions of Kansas
are important to our state and offer excellent opportunities for
Equity to continue to enact our mission. This merger underscores
our commitment to serving communities across the state, providing
people with access to financial services and fostering economic
growth. We intend to continue to build lasting relationships and
support the aspirations of families and businesses in Americus and
Gove County.”
“We are pleased to join the Equity Bank family and network,”
said Scott Bird, President, Chairman & CEO of KansasLand Bank.
“This merger will provide our customers unparalleled customer
service and access to state-of-the-art financial products and
services, while ensuring the continuation of our mission of giving
back to our communities.”
“We welcome all KansasLand customers and team members,” said
Levi Getz, Equity Bank Regional President, Western Kansas. “We’re
honored to have this opportunity to bring these organizations
together and serve our communities.”
Since 2002, Equity Bank has completed 23 combined whole-bank,
deposit, or branch acquisitions. In February, the Company completed
its acquisition of Rockhold Bancorp and its subsidiary, the Bank of
Kirksville, which added eight North Central Missouri offices, in
just 67 days.
A pro forma Equity, including two KansasLand locations, will
comprise a network of 73 bank locations, including 38 offices in
Kansas, and $5.3 billion in total assets.
Established in 1902, KansasLand currently operates two locations
in Kansas, one in Quinter and one in Americus. KansasLand had $55
million in consolidated total assets and $43 million in total
deposits as of December 31, 2023.
About Equity Bancshares,
Inc.
Equity Bancshares, Inc. is the holding company for Equity Bank,
offering a full range of financial solutions, including commercial
loans, consumer banking, mortgage loans, trust and wealth
management services and treasury management services, while
delivering the high-quality, relationship-based customer service of
a community bank. Equity’s common stock is traded on the New York
Stock Exchange under the symbol “EQBK.” Learn more at
www.equitybank.com.
Special Note Concerning Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements reflect the current views
of Equity’s management with respect to, among other things, future
events and Equity’s financial performance. These statements are
often, but not always, made through the use of words or phrases
such as “may,” “should,” “could,” “predict,” “potential,”
“believe,” “will likely result,” “expect,” “continue,” “will,”
“anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,”
“forecast,” “goal,” “target,” “would” and “outlook,” or the
negative variations of those words or other comparable words of a
future or forward-looking nature. These forward-looking statements
are not historical facts, and are based on current expectations,
estimates and projections about Equity’s industry, management’s
beliefs and certain assumptions made by management, many of which,
by their nature, are inherently uncertain and beyond Equity’s
control. Accordingly, Equity cautions you that any such
forward-looking statements are not guarantees of future performance
and are subject to risks, assumptions and uncertainties that are
difficult to predict. Although Equity believes that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements. Factors that could cause actual results
to differ materially from Equity’s expectations include competition
from other financial institutions and bank holding companies; the
effects of and changes in trade, monetary and fiscal policies and
laws, including interest rate policies of the Federal Reserve
Board; changes in the demand for loans; fluctuations in value of
collateral and loan reserves; inflation, interest rate, market and
monetary fluctuations; changes in consumer spending, borrowing and
savings habits; and acquisitions and integration of acquired
businesses; and similar variables. The foregoing list of factors is
not exhaustive. In addition, the following factors, among others,
related to the proposed transaction between Equity and KansasLand,
could cause actual outcomes and results to differ materially from
forward-looking statements or historical performance: the
possibility that the proposed transaction will not close when
expected or at all because required regulatory or other approvals
are not received or other conditions to the closing are not
satisfied on a timely basis or at all, or are obtained subject to
conditions that are not anticipated; the outcome of any legal
proceedings that may be instituted in connection with the proposed
transaction; the possibility that the anticipated benefits of the
transaction will not be realized when expected or at all, including
as a result of the impact of, or problems arising from, the
integration of the two companies or as a result of the strength of
the economy and competitive factors in the areas where companies do
business; the possibility that the transaction may be more
expensive to complete than anticipated, including as a result of
unexpected factors or events; diversion of management’s attention
from ongoing business operations and opportunities; potential
adverse reactions or changes to business or employee relationships,
including those resulting from the announcement or completion of
the transaction; the business, economic and political conditions in
the markets in which the parties operate; the risk that the
proposed combination and its announcement could have an adverse
effect the parties’ ability to retain customers and retain or hire
key personnel and maintain relationships with customers; the risk
that the proposed combination may be more difficult, time-consuming
or expensive than anticipated; and other factors that may affect
future results of Equity.
For discussion of these and other risks that may cause actual
results to differ from expectations, please refer to “Cautionary
Note Regarding Forward-Looking Statements” and “Risk Factors” in
Equity’s Annual Report on Form 10-K filed with the Securities and
Exchange Commission on March 7, 2024, and any updates to those risk
factors set forth in Equity’s subsequent Quarterly Reports on Form
10-Q or Current Reports on Form 8-K. If one or more events related
to these or other risks or uncertainties materialize, or if
Equity’s underlying assumptions prove to be incorrect, actual
results may differ materially from what Equity anticipates.
Accordingly, you should not place undue reliance on any such
forward-looking statements. Any forward-looking statement speaks
only as of the date on which it is made, and Equity does not
undertake any obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise. New risks and uncertainties arise
from time to time and it is not possible for us to predict those
events or how they may affect us. In addition, Equity cannot assess
the impact of each factor on Equity’s business or the extent to
which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any
forward-looking statements. All forward-looking statements,
expressed or implied, included in this press release are expressly
qualified in their entirety by this cautionary statement. This
cautionary statement should also be considered in connection with
any subsequent written or oral forward-looking statements that
Equity or persons acting on Equity’s behalf may issue.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240422186872/en/
Media Contact:
John J. Hanley Chief Marketing Officer Equity Bancshares, Inc.
(913) 583-8004 jhanley@equitybank.com
Investor Contact:
Brian Katzfey VP, Director of Corporate Development and Investor
Relations Equity Bancshares, Inc. (316) 858-3128
bkatzfey@equitybank.com
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