WICHITA, Kan., Sept. 20, 2021 (GLOBE NEWSWIRE) — The Equity Bancshares, Inc. (NASDAQ: EQBK) Board of Directors (“Board”) announced it has initiated a quarterly cash dividend to its stockholders.
The quarterly dividend of $0.08 per common share of Equity Bancshares, Inc. (“Equity” or “Company”) Class A stock is payable on October 14, 2021 to stockholders of record at the close of business on September 30, 2021. Future dividends will be subject to Board approval.
“We’re pleased to declare a dividend to our stockholders for the first time in our Company’s history. We have been evaluating this as our Company and profits have each continued to grow,” said Brad Elliott, Chairman and CEO of Equity. “We appreciate the support of our stockholders and the ongoing efforts of our Equity Bank teams throughout our four-state footprint to continue to deliver expertise, innovation, and local service to our customer base.”
The Board also authorized the repurchase of up to 1,000,000 shares of Equity’s outstanding common stock, par value $0.01 per share, from time to time, beginning October 29, 2021 and concluding October 28, 2022. The repurchase program does not obligate Equity to acquire a specific dollar amount or number of shares, and it may be extended, modified or discontinued at any time without notice. The repurchase program is subject to non-objection from the Federal Reserve Bank.
About Equity Bancshares, Inc.
Equity Bancshares, Inc. is the parent company of Equity Bank, offering a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, and treasury management services. As of June 30, 2021, Equity had approximately $4.2 billion in consolidated total assets, with full-service locations in Kansas, Missouri, Arkansas and Oklahoma, including corporate offices in Wichita.
Equity announced its merger with American State Bancshares, Inc. (“ASBT”), a bank holding company with $780 million in assets, headquarters in Wichita, Kansas, and American State Bank and Trust Company locations in its Kansas footprint. Equity will complete its merger with ASBT in October 2021, which will be the Company’s 18th bank combination, including 10 since the Company’s initial public offering in 2015.
