Equity Bank Adds to its Franchise in Home
State of Kansas
Equity Bancshares, Inc. (NYSE: EQBK) (“Equity” or the
“Company”), the Wichita-based holding company of Equity Bank,
announced the completed acquisition of KansasLand Bancshares, Inc.
(“KansasLand”), the parent company of KansasLand Bank. With this
acquisition, Equity has added to its existing presence in Quinter,
Kansas and expanded into Americus, Kansas.
“We are delighted to welcome KansasLand customers and team
members into our organization,” said Equity Bank CEO Rick Sems.
“This acquisition is a testament to our commitment to growth in our
home state of Kansas, and we look forward to serving our new
customers while continuing to deliver for our shareholders.”
KansasLand’s locations open as Equity Bank on July 2. The
Company expects to consolidate the core and digital banking systems
late in the third quarter.
Equity announced the merger with KansasLand 71 days ago on April
22, 2024. Equity has approximately $5.3 billion in proforma
consolidated assets and operates 74 locations in Kansas, Missouri,
Arkansas, and Oklahoma. Equity’s Kansas franchise now includes 37
banks.
The combination with KansasLand brings Equity’s total strategic
transactions to 23 since the Company’s founding in 2002, including
11 whole-bank acquisitions since the Company’s initial public
offering in 2015.
“This partnership aligns with our vision and strategy, and we
are eager to integrate our teams and offer even greater value to
our customers in these markets,” said Equity Bancshares, Inc.
Chairman & CEO, Brad Elliott.
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; 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 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 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 completion of the transaction; the business,
economic and political conditions in the markets in which the
parties operate; the risk that the proposed combination could have
an adverse effect on the parties’ ability to retain customers and
retain or hire key personnel and maintain relationships with
customers; the risk that the 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/20240702804585/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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