Equity Bancshares Enters Material Definitive Agreement

TL;DR

EQBK just signed a big deal, details TBD.

AI Summary

On April 18, 2024, Equity Bancshares, Inc. entered into a material definitive agreement. The filing does not disclose specific details of the agreement, such as the counterparty or financial terms, but it is categorized under "Entry into a Material Definitive Agreement."

Why It Matters

This filing indicates a significant new contract or partnership for Equity Bancshares, Inc., which could impact its future business operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details about the material definitive agreement introduces uncertainty regarding its potential impact on the company.

Key Players & Entities

• Equity Bancshares, Inc. (company) — Registrant
• April 18, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ered Class A, Common Stock, par value $0.01 per share EQBK New York Stock Excha
• $100,000 — consideration payable by the Company is $100,000 in cash. The merger consideration is su
• $250,000 — if Kansasland does not deliver at least $250,000of tangible common equity, as adjusted a

Filing Documents

• eqbk-20240418.htm (8-K) — 59KB
• eqbk-ex2_1.htm (EX-2.1) — 718KB
• eqbk-ex99_1.htm (EX-99.1) — 19KB
• eqbk-ex99_2.htm (EX-99.2) — 3KB
• eqbk-ex99_2s1.jpg (GRAPHIC) — 955KB
• 0000950170-24-046476.txt ( ) — 2339KB
• eqbk-20240418.xsd (EX-101.SCH) — 24KB
• eqbk-20240418_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Agreement and Plan of Reorganization On April 18, 2024, Equity Bancshares, Inc. (the "Company"), a Kansas corporation and the parent company of Equity Bank ("Equity Bank"), a Kansas state bank, 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. The Agreement contains customary representations and warranties from the Company, Kansasland, and each party has agreed to customary covenants, including, among others, covenants relating to the conduct of its business during the interim period between the execution of the Agreement and the closing of the Merger. Completion of the Mer

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On April 22, 2024, the Company issued a press release announcing the execution of the Agreement. A copy of the press release is furnished as Exhibit 99.1 and is incorporated by reference herein. On April 22, 2024, the Company also provided supplemental information regarding the proposed transactions for the benefit of analysts and investors. A copy of the investor transaction summary is furnished as Exhibit 99.2 and is incorporated by reference herein. The information in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless specifically identified therein as being incorporated therein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 2.1 Agreement and Plan of Merger, dated April 18, 2024, by and among Equity Bancshares, Inc., KL Merger Sub, Inc., and Kansasland Bancshares, Inc.* 99.1 Press Release dated April 22, 2024. 99.2 Investor Presentation dated April 22, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Certain schedules and exhibits to this agreement have been omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company agrees to furnish supplementally to the SEC a copy of any omitted schedule or exhibit upon request.

Forward-Looking Statements

Forward-Looking Statements This Current Report on Form 8-K may contain "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 the Company's management with respect to, among other things, the expected benefits of the proposed transaction, future events and the Company'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," "assume," "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 the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company's control. Accordingly, the Company 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 the Company 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 the Company'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

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Equity Bancshares, Inc. Date: April 22, 2024 By: /s/ Chris M. Navratil Chris M. Navratil Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR