Equity Bank and American State Bank & Trust to merge
Equity Bancshares, Inc. is merging with American State Bancshares Inc.
Equity Bancshares is the parent company of Equity Bank and ASB is the holding company of American State Bank & Trust in Wichita.
Equity will merge ASB into Equity, adding American State Bank & Trust's 17 Kansas locations into Equity Bank's network. Completion of the merger is expected in early October.
Brad Elliot, chairman and CEO of Equity, said American State Bank & Trust is an excellent bank which shares a like mind with Equity's, valuing "customized personal service and entrepreneurial spirit."
"Kansas is home to numerous, thriving communities with customers who desire a community banking approach, and our institutions match up well in terms of mindset and geographic fit," he said. "As we welcome new customers in strong markets in north, central and southwest Kansas, we’re eager to serve alongside the dedicated leadership and employees of American State Bank & Trust."
Lee Borck, chairman of the Board of ASB, said they're pleased to join a Kansas-based bank.
"We’re fortunate to find a partner that will continue our tradition of innovation for our customers and families throughout our Kansas footprint – and add additional locations, bankers and expertise near our customers’ businesses and homes,” he said.
Equity's new footprint will encompass 42 locations in Kansas, including five additional locations in Equity's market of Wichita and the surrounding metropolitan statistical area.
ASB's current footprint complements Equity's with locations in Great Bend, Salina, Garden City, Belleville, Clyde, Concordia, Holcomb, Larned, Macksville and St. John.
Equity's full network will include 69 bank locations in Kansas, Missouri, Arkansas and Oklahoma.
Elliot said the two organization's footprints mesh, providing "a solid foundation across Kansas for our customers, adding a layer of convenience and expertise for all of us.