M&A
confidence high
sentiment positive
materiality 0.80
Equity Bancshares to merge with Lincoln Bancorp in $123.8M deal
EQUITY BANCSHARES INC
- Total consideration ~$123.8M: 77.5% EQBK stock, 22.5% cash; based on $49.85 spot price.
- Adds 16 Iowa locations; Lincoln has $1.7B assets, $1.2B loans, $1.5B deposits as of 6/30/26.
- Expected ~5.1% ($0.27) EPS accretion in 2027 and 7.5% ($0.42) in 2028, excluding one-time costs.
- TBV dilution earned back in <3 years; proforma assets ~$9.1B after reducing excess liquidity.
- Merger expected to close Q4 2026, subject to regulatory and shareholder approvals.