Equity Bancshares, Inc. completed the acquisition of Rockhold Bancorp.
February 08, 2024
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Equity Bancshares, Inc. (NYSE:EQBK) entered into a definitive merger agreement to acquire Rockhold Bancorp for $44.3 million on December 5, 2023. Under the terms of the merger agreement, Equity Bancshares will pay approximately $44.3 million in cash to acquire Rockhold and Bank of Kirksville. Bank of Kirksville will merge with and into Equity Bank. The actual aggregate transaction value may be subject to adjustment based on the adjusted equity capital of Rockhold as of the closing, as further set forth in the definitive merger agreement. The closing of the transaction is subject to customary closing conditions, including regulatory approval. Rockhold?s sole shareholder has approved the transaction. Norton Rose Fulbright US LLP acted as a legal advisor to Equity Bancshares. Justin Evans and Adam Glasier of Stephens Inc. provided fairness opinion to Equity Bancshares. Greg Johnson of Stinson LLP acted as a legal counsel to Rockhold. The Capital Corporation provided fairness opinion to Rockhold. Following completion of the merger in the first quarter of 2024.
Equity Bancshares, Inc. (NYSE:EQBK) completed the acquisition of Rockhold Bancorp on February 9, 2024.
Equity Bancshares, Inc. is a bank holding company for Equity Bank (the Bank). The Bank provides a range of financial services primarily to businesses and business owners as well as individuals through its network of approximately 82 branches located in Arkansas, Kansas, Missouri and Oklahoma. The Bankâs operations involve the delivery of loan and deposit products to its customers. It offers commercial banking products and other services, including lending activities, deposit products, and other products and services. The Bank offers a suite of online banking solutions, including access to account balances, online transfers, online bill payment and electronic delivery of customer statements, mobile banking solutions for iPhone and Android phones, including remote check deposit with mobile bill pay. Its commercial treasury management services include balance reporting, transfers between accounts, wire transfer initiation, automated clearing house (ACH) origination and stop payments.