Wichita-Based Equity Bank Acquisition Adds $406M in Assets

Equity Bank will merge with Bank of Kirksville in the first quarter of 2024. Photo Credit: Google Maps

Posted December 6, 2023

Wichita-based Equity Bank announced it will merge with Bank of Kirksville adding eight locations to Equity Bank’s network and raising its total assets to $5.4 billion.

Under the terms of the agreement, Equity Bank—operated by Equity Bancshares, Inc.— will pay approximately $44.3 million in cash to acquire Bank of Kirksville and its parent company Rockhold Bancorp, according to a release.

“We couldn’t be more pleased to add another strong community bank to our network and continue to serve our Missouri customer base with additional locations, technology, and customized solutions for businesses and families,” Equity Bank chairman and CEO, Brad Elliott said. “Our teams continue to work diligently to add customers, colleagues, and market locations within our four-state footprint, and we’re pleased to enter Kirksville and serve a vibrant customer base.”

The merger is expected to be completed by Q1 2024 and the transaction amount is still subject to change based on the adjusted equity capital of Rockhold following its closure.

When the transaction is complete Equity Bank will be comprised of 74 bank locations, including 23 offices in Missouri, and $5.4 billion in total assets. Equity reported $4.9 billion in consolidated total assets as of September 30, 2023.

Bank of Kirksville had $406 million in consolidated total assets, $344 million in total deposits, including $311 million in core deposits and $122 million in loans as of September 30, 2023.