Equity Bancshares, Inc. Announces Regulatory and Shareholder Approvals of Mergers with First National Bank of Liberal and Adams Dairy Bank
Joe Denoyer - March 27, 2018 6:42 pm
(GLOBE NEWSWIRE) — Equity Bancshares, Inc. the Wichita-based holding company of Equity Bank, announced it has received the necessary federal and state regulatory approvals to complete its mergers with Kansas Bank Corporation (“KBC”), parent company of First National Bank of Liberal in Liberal, Kansas, and Adams Dairy Bancshares, Inc. (“Adams”), parent company of Adams Dairy Bank in Blue Springs, Missouri.
Adams shareholders approved the transaction on March 22, 2018. KBC shareholders approved the transaction on March 23, 2018. Equity expects each transaction to close on May 4, 2018, subject to satisfaction or waiver of the respective conditions to closing.
Brad Elliott, Chairman and CEO of Equity, said, “We’re proud to work in tandem with the leadership of First National Bank of Liberal and Adams Dairy Bank to ensure an efficient partnership for local customers. Our teams focus on closing and completing mergers in a reasonably quick time frame, which allows for uninterrupted community bank service to our customers. We will be pleased to welcome Southwestern Kansas and Blue Springs, Missouri customers and communities.”
After the mergers, Equity will operate 48 bank locations in four states, adding five bank offices in Southwest Kansas, including four locations in Liberal and one in Hugoton. Equity will also add Blue Springs, Missouri, to its Kansas City presence of seven bank offices, with three locations in Lee’s Summit, Missouri, two offices in Overland Park, Kansas, and one location in Kansas City, Missouri.
The mergers mark Equity’s sixteenth and seventeenth combinations since 2003, and the mergers with KBC and Adams will be the sixth and seventh since the Company’s initial public offering in November 2015