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Equity Bancshares, Inc. enters definitive merger agreement with Lincoln Bancorp and Lincoln Savings Bank. Photo credit: Equity Bank.
Posted September 3, 2026
Wichita-based Equity Bank announced it has entered into a merger agreement with Lincoln Savings Bank and its holding company, adding 16 new locations to Equity’s portfolio and bolstering its Iowa presence.
Lincoln Bancorp is the parent company of Lincoln Savings Bank, founded in 1902, which is headquartered in Reinbeck, Iowa. The agreement was unanimously approved by the Boards of Directors for Equity and Lincoln.
As part of the agreement, Lincoln shareholders will receive approximately 77.5% of the merger consideration in Equity Bancshares, Inc. (EQBK) stock and the remaining 22.5% in cash. As of September 2, Equity’s spot price was $49.85, and the total consideration was valued at approximately $123.8 million, according to a release.
The merger is expected to close in Q4 2026.
The Lincoln merger brings Equity’s total acquisitions to 27 since its founding in 2002. One year ago, Equity Bancshares, Inc. announced its definitive merger agreement with Nebraska-based Frontier Holdings, LLC, which would officially close in January. In April 2024, Equity Bank announced a merger with KansasLand Bank, adding two locations. Prior to that deal, Equity Bank announced in December 2023 that it would merge with Missouri-based Bank of Kirksville, adding eight locations to its network and raising its total assets to $5.4 billion at the time.
Equity reported $7.7 billion in assets as of June 30, 2026. Following the addition of Lincoln, the bank projects approximately $9.1 billion in total assets for the Equity franchise, according to the release.
“By combining our strengths, we’ll have additional resources to invest in local communities and support the initiatives that help them thrive,” Rick Sems, President & CEO of Equity Bank, said in the release. “This year alone, we’ve contributed more than $1.7 million to causes across our markets, and we’re committed to expanding that investment in the years ahead.”
Equity Bank ranked No. 6 in Top Area Banks ranked by total assets for banks headquartered in MO-KS, as featured in Ingram’s Power Book 2026 Edition. In 2024, Equity reported a net income of $5.65 million and a return on assets of 1.41%.
