EQUITY BANCSHARES, INC. (NASDAQ:EQBK) Files An 8-K Completion of Acquisition or Disposition of Assets
Item2.01
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Completion of Acquisition or Disposition of Assets. |
On March10, 2017, Equity Bancshares, Inc. (the Company)
completed its merger (the Merger) with Prairie State
Bancshares, Inc. (Prairie), to the terms of the Agreement
and Plan of Merger, dated October20, 2016 (the Agreement),
by and among, the Company, Prairie Merger Sub (the Merger
Sub) and Prairie. At the effective time of the Merger (the
Effective Time), the Merger Sub merged with and into
Prairie, with Prairie surviving the merger as a wholly-owned
subsidiary of the Company. Following the Effective Time, Prairie
merged into the Company, with the Company surviving the Merger
and thereafter, State Bank, Prairies wholly owned bank
subsidiary, merged with and into the Companys wholly owned bank
subsidiary, Equity Bank, with Equity Bank surviving the merger.
to the Agreement, at the Effective Time each outstanding share of
Prairie common stock was converted into the right to receive
(i)6.41 shares of ClassA common stock, par value of $0.01 per
share, of the Company, and (ii)$163.84 in cash.
The foregoing description of the Agreement does not purport to be
complete and is qualified in its entirety by reference to the
full text of the Agreement, which is attached hereto as Exhibit
2.1 and is incorporated herein by reference.
| Item7.01 | Regulation FD Disclosure. |
On March10, 2017, the Company issued a press release announcing
the closing of the Merger. A copy of the press release is
furnished as Exhibit 99.1 to this Current Report on Form 8-K and
incorporated herein by reference.
The information in this Item7.01, including Exhibit 99.1, is
being furnished to Item7.01 of Form 8-K and shall not be deemed
filed for purposes of Section18 of the Exchange Act, or otherwise
subject to liabilities of that section, nor shall it be deemed
incorporated by reference into any filing under the Securities
Act or the Exchange Act, unless specifically identified therein
as being incorporated therein by reference.
| Item9.01 | Financial Statements and Exhibits. |
| (a) | Financial Statements of Businesses Acquired. |
In accordance with paragraph 9.01(a)(4) of Form 8-K, the Company
will file an amendment to this Current Report on Form 8-K
containing the financial statements required by Item9.01(a) not
later than 71 calendar days after the date that the initial
Current Report on Form 8-K was required to be filed.
| (b) | Pro Forma Financial Information. |
In accordance with paragraph 9.01(b)(2) of Form 8-K, the Company
will file an amendment to this Current Report on Form 8-K
containing the financial statements required by Item9.01(b) not
later than 71 calendar days after the date that the initial
Current Report on Form 8-K was required to be filed.
| (d) | Exhibits. |
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Exhibit Number |
Description |
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| 2.1 |
Agreement and Plan of Merger, dated as of October 20, 2016, by and between Equity Bancshares, Inc., Prairie Merger Sub, Inc. and Prairie State Bancshares, Inc. (incorporated by reference to Exhibit 2.1 to Equity Bancshares, Inc.s Current Report on Form 8-K, filed with the SEC on October 20, 2016). |
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| 99.1 | Press Release, dated March 10, 2017. |
About EQUITY BANCSHARES, INC. (NASDAQ:EQBK)
Equity Bancshares, Inc. is a bank holding company. The Company’s principal activity is the ownership and management of its subsidiary, Equity Bank (the Bank). The Bank provides a range of financial services primarily to businesses and business owners, as well as individuals. As of November 10, 2016, the Company operated through 34 branches located in Kansas, Missouri and Arkansas. The Company’s operations involve the delivery of loan and deposit products to its customers. The Company offers commercial banking products and other services, including lending activities, deposit products, and other products and services. It offers a suite of online banking solutions, including access to account balances, online transfers, online bill payment, and electronic delivery of customer statements and mobile banking solutions. In addition, the Company offers commercial treasury management services, wire transfer, automated clearing house (ACH) services and cash management deposit products. EQUITY BANCSHARES, INC. (NASDAQ:EQBK) Recent Trading Information
EQUITY BANCSHARES, INC. (NASDAQ:EQBK) closed its last trading session down -0.59 at 31.99 with 14,119 shares trading hands.