Exhibit 99.1
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| EQUITY BANCSHARES, INC. | | |
| PRESS RELEASE | | 7/2/2024 |
Equity Bancshares, Inc. Completes Merger with KansasLand Bancshares, Inc.
Equity Bank Adds to its Franchise in Home State of Kansas
WICHITA, Kan., July 2, 2024 — 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 acquisition fits with our strategic plan,” said Equity Bank CEO Rick Sems. “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.”
“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
