Equity Bancshares to acquire KansasLand Bank for $100k cash, adding 2 KS branches

EQUITY BANCSHARES INC

Deal value is $100,000 in cash; KansasLand has $54.5M assets, $45.4M deposits as of Dec 2023.
Expected to close Q2 2024; pro forma Equity will have $5.3B assets and 73 locations.
Estimated 2024E EPS accretion of $0.03 (0.71%) and 2025E EPS accretion of $0.05 (1.09%).
TBVPS earnback estimated at approximately 0.28 years.
Equity will rank No. 1 in Gove County, KS deposit market share after the merger.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

EQUITY BANCSHARES INC entered into Agreement and Plan of Merger with Kansasland Bancshares, Inc. valued at $100,000 (effective 2024-04-18).

Action: entry
Agreement: merger
Counterparty: Kansasland Bancshares, Inc.
Value: $100,000
Effective: 2024-04-18

Exact text from the filing

entered into an Agreement and Plan of Merger (the “Agreement”), by and among the Company, KL Merger Sub, Inc. (“Merger Sub”), a Kansas corporation and a wholly owned subsidiary of the Company, Kansasland Bancshares, Inc. (“Kansasland”), a Kansas corporation and the parent company of KansasLand Bank (“KansasLand Bank”), a Kansas state bank.

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306 material agreements filed in the last 30 days. Browse all material agreements →

EQUITY BANCSHARES INC filing history →

Source: SEC EDGAR

accession 0000950170-24-046476

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