Equity Bancshares in Kansas to acquire Oklahoma bank

Wichita, Kan.-based Equity Bancshares is expanding in the Sooner State by acquiring NBC Oklahoma. .The deal, expected to close in the third quarter of this year, will add seven branches to Equity’s current network — two in Oklahoma City, two in Altus, one in Kingfisher, another in Enid and an LPO in Alva. As of Dec. 31, NBC Oklahoma had $908 million in assets, including $681 million in loans. As of Dec. 31, Equity Bancshares had $5.3 billion in assets, $4.4 billion in deposits and $3.5 billion in gross loans. Following the merger, Equity Bank will comprise of 82 branches, including 15 in Oklahoma, along with $6.4 billion in assets. “Partnership with Equity Bank creates the capacity to support larger credits and will fuel new commercial growth, enhancing lending capabilities and retail services while expanding market reach,” said H.K. Hatcher, president and CEO of NBC Oklahoma.The deal is Equity Bancshares’ 25th since it was founded in 2002. Thirteen of those have been announced since Equity’s initial public offering a decade ago. New York City-based Keefe, Bruyette & Woods was a financial adviser to Equity Bancshares. Houston-based Norton Rose Fulbright US LLP served as legal counsel. NBC Oklahoma was financially advised by Great Falls, Mont.-based financial advisory firm D.A. Davidson, while the bank was legally advised by Oklahoma City-based McAfee & Taft.