Report|9 Jul 2025

Equity Bancshares, Inc. Rating Report

Company Profile

  • Based in Wichita, KS and founded in 2002, Equity Bancshares, Inc. (NYSE: EQBK) (“Equity” or “the company”) is the BHC for Equity Bank (“the bank”), which operates 71 locations in the Midwest, primarily in KS, MO, and OK, along with a smaller presence in AR. Like many community banks in rural markets, EQBK gathers lower-cost community market deposits and leverages those into higher-growth metropolitan markets, including the Wichita, Kansas City, and Tulsa MSAs.
  • The company was established with a strategy to grow through in-market consolidation of community banks that face regulatory, resource, technological challenges and management succession issues while also targeting those with strong market share, low-cost deposits, or complementary non-interest income opportunities. This strategy has resulted in over $3 billion of assets growth, with 20 closed transactions since its founding including 12 since its IPO in 2015. Announced in April 2025, the…
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