8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 1, 2023

EQUITY BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

Kansas	001-37624	72-1532188
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

7701 East Kellogg Drive, Suite 300 Wichita, KS	67207
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: 316.612.6000

Former name or former address, if changed since last report: Not Applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Class A, Common Stock, par value $0.01 per share	EQBK	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation of Eric R. Newell as Chief Financial Officer

On August 1, 2023, Eric R. Newell notified Equity Bancshares, Inc. (the “Company”) of his decision to resign from his role as Executive Vice President and Chief Financial Officer of the Company and his roles at Equity Bank effective the day after the Company files its Form 10-Q for the quarter ended June 30, 2023 with the Securities Exchange Commission. Mr. Newell will remain employed by Equity Bank through September 20, 2023 to assist in the transition of his duties and responsibilities to Chris M. Navratil. Mr. Newell’s resignation was not the result of any disagreement with the Company or Equity Bank on any matter related to the operations, policies or practices of the Company or Equity Bank.

Appointment of Chris M. Navratil as Chief Financial Officer

On August 4, 2023, the Company announced the appointment of Chris M. Navratil as Executive Vice President and Chief Financial Officer of the Company. Mr. Navratil’s appointment as Executive Vice President and Chief Financial Officer of the Company will be effective the day after the Company files its Form 10-Q for the quarter ended June 30, 2023 with the Securities Exchange Commission. Mr. Navratil, age 36, has held various roles since joining Equity Bank in 2019 as a Senior Vice President and he most recently served as the Chief Financial Officer of Equity Bank. Before joining Equity Bank, Mr. Navratil was an auditor with Crowe LLP in its Financial Institution Audit Practice for seven years. Mr. Navratil holds a Master of Accounting Science and Bachelor of Science degree in accounting from Northern Illinois University.

The terms of Mr. Navratil’s compensation for his new position have not been determined at this time. There are no family relationships between Mr. Navratil and any director or executive officer the Company, or person nominated or chosen by the Company to become a director or executive officer of the Company, nor are there any arrangements or understandings between Mr. Navratil and other persons pursuant to which he was appointed as an executive officer of the Company. The Company has had no transactions since the beginning of its last fiscal year, and has no transactions proposed, in which Mr. Navratil, or any member of his immediate family, has a direct or indirect material interest that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.

Item 7.01 Regulation FD Disclosure.

The press release announcing the resignation of Mr. Newell and appointment of Mr. Navratil is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 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 of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless specifically identified therein as being incorporated therein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release, dated August 4, 2023
104	Cover Page Interactive Data File

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		EQUITY BANCSHARES, INC.
DATE: August 4, 2023	By:	/s/ Brad S. Elliott
		Brad S. Elliott
		Chief Executive Officer

EX-99.1

Exhibit 99.1

EQUITY BANCSHARES, INC.    

PRESS RELEASE – 08/04/2023

Equity Bancshares, Inc. Announces Promotion of Chris Navratil to Chief Financial Officer and Departure of Eric Newell

Wichita-based holding company elevates current Bank CFO to principal accounting and financial officer

WICHITA, Kansas, August 4, 2023 – Equity Bancshares, Inc. (NYSE: EQBK), (“Equity”, “we”, “us”, “our”, the “Company”), the Wichita-based holding company of Equity Bank (the “Bank”), announced the promotion of Chris M. Navratil to Chief Financial Officer (“CFO”) of Equity Bancshares, Inc., and announced Eric R. Newell’s decision to resign from his position as Chief Financial Officer.

“Our Company considers entrepreneurial spirit one of our founding principles and core values,” said Brad S. Elliott, Chairman and Chief Executive Officer of Equity. “As a result, we’re a home to innovative thinkers, leaders, and doers who can make an impact quickly and leave lasting results. We pride ourselves on recruiting and developing outstanding leaders. In this case, we’re fortunate to appoint Chris and leverage his strong financial acumen, leadership, and experience.”

Mr. Navratil joined Equity Bank in 2019 as a senior vice president and was named CFO of the Bank in December 2022. During his time at Equity, Mr. Navratil has led the Bank’s financial strategy, planning, and reporting functions, including balance sheet strategy and liquidity management. Mr. Navratil has also served as Equity’s Investor Relations Officer. Before joining Equity, Mr. Navratil spent seven years with Crowe LLP in Chicago, Illinois, within the Financial Institution Audit Practice. Mr. Navratil resides in Wichita and received his Master’s degree in Accounting from Northern Illinois University.

Mr. Newell joined Equity as CFO in June of 2020. He will retain responsibility for and leadership of Equity’s financial reporting and accounting teams concluding with the filing of Equity’s Second Quarter Form 10-Q to the Securities and Exchange Commission. He will then work through September 20, 2023 to assist in the transition of duties and responsibilities to Mr. Navratil.

“Our Company is very fortunate to be a home for top talent within the banking industry, who are afforded the opportunity to build lasting relationships with customers, team members, and shareholders,” said Mr. Elliott. “Eric accomplished a great deal during his time at Equity helping us build our Company, culture, and teams. He serves as an example of how we build and encourage entrepreneurial leaders to deliver for our investors, customers, and colleagues.”

About Equity Bancshares, Inc.

Equity Bancshares, Inc. is the holding company for Equity Bank, offering a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, trust and wealth management services and treasury management services, while delivering the high-quality, relationship-based customer service of a community bank. Equity’s common stock is traded on The New York Stock Exchange under the symbol “EQBK.” Learn more at www.equitybank.com.

Special Note Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of Equity’s management with respect to, among other things, future events and Equity’s financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about Equity’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond Equity’s control. Accordingly, Equity cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Equity believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results

EQUITY BANCSHARES, INC.    

PRESS RELEASE – 08/04/2023

expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from Equity’s expectations include competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses; and similar variables. The foregoing list of factors is not exhaustive.

For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Equity’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 9, 2023, and any updates to those risk factors set forth in Equity’s subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Equity’s underlying assumptions prove to be incorrect, actual results may differ materially from what Equity anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Equity does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties arise from time to time and it is not possible for us to predict those events or how they may affect us. In addition, Equity cannot assess the impact of each factor on Equity’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Equity or persons acting on Equity’s behalf may issue.

Media Contact:

John J. Hanley

Chief Marketing Officer

Equity Bancshares, Inc.

(913) 583-8004

jhanley@equitybank.com

Investor Contact:

Brian Katzfey

VP, Director of Corporate Development and Investor Relations

Equity Bancshares, Inc.

(316) 858-3128

bkatzfey@equitybank.com

XML

Document and Entity Information	Aug. 01, 2023
Cover [Abstract]
Entity Registrant Name	EQUITY BANCSHARES INC
Amendment Flag	false
Entity Central Index Key	0001227500
Document Type	8-K
Document Period End Date	Aug. 01, 2023
Entity Incorporation State Country Code	KS
Entity File Number	001-37624
Entity Tax Identification Number	72-1532188
Entity Address, Address Line One	7701 East Kellogg Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Wichita
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	67207
City Area Code	316
Local Phone Number	612.6000
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Security 12b Title	Class A, Common Stock, par value $0.01 per share
Trading Symbol	EQBK
Security Exchange Name	NYSE
Entity Emerging Growth Company	false