SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 15 – SUBSEQUENT EVENTS On October 1, 2021, the Company completed its acquisition of American State Bancshares, Inc. (“ASB”) pursuant to the terms of the Agreement and Plan of Reorganization, dated May 14, 2021 (the “Merger Agreement”), by and among the Company, Greyhounds Merger Sub, Inc., and ASB. At the effective time of the merger (the “Effective Time”), Greyhounds Merger Sub, Inc. merged with and into ASB, with ASB surviving the merger as a wholly-owned subsidiary of the Company. Following the Effective Time, ASB merged with and into the Company, with the Company surviving the merger. Subsequently, American State Bank & Trust Company (“American State Bank”), ASB’s wholly-owned banking subsidiary, merged into Equity Bank, with Equity Bank surviving the merger. American State Bank had a total of seventeen locations in Kansas prior to its merger with Equity Bank. Results of operations of ASB were included in the Company’s results of operations beginning October 2, 2021. Acquisition costs related to this acquisition during the nine months ended September 30, 2021, were $4,390 ($3,401 on an after-tax basis). In connection with the merger, the Company assumed ASB’s rights, title and obligations under the indenture, dated as of September 15, 2005 (the “Indenture”), by and between ASB and the Wilmington Trust Company (the “Trustee”), pursuant to that certain First Supplemental Indenture, dated as of October 1, 2021 (the “Supplemental Indenture”), by and among the Company, ASB and the Trustee. ASB had issued $7,732 principal amount of its Floating Rate Junior Subordinated Deferrable Interest notes due 2035 under the Indenture. In their September 30, 2021, unaudited Consolidated Report of Condition, American State Bank reported total assets of $788,452, which included total loans of $452,690 and securities of $177,207. At September 30, 2021, total liabilities of $690,098 were reported by American State Bank, which included deposits of $659,072. American State Bank reported $5,388 in net income before income taxes for the nine months ended September 30, 2021. The Company anticipates there will be goodwill and core deposit intangibles recorded with this acquisition. Goodwill is calculated as the excess of the cash consideration transferred over the net of the acquisition-date fair value of identifiable assets acquired and liabilities assumed. On July 19, 2021, the Company announced that Equity Bank signed a definitive branch purchase and assumption agreement to acquire the assets and assume the deposits of three bank locations in St. Joseph, Missouri, from Security Bank of Kansas City, a subsidiary of Valley View Financial Co. of Overland Park, Kansas. The Company anticipates closing the transaction in the fourth quarter of 2021, subject to customary closing conditions, including the receipt of regulatory approval. On October 25, 2021, the Company announced that Equity Bank signed a definitive purchase and assumption agreement with United Bank & Trust in Marysville, Kansas, (“UBT”) with UBT acquiring certain assets and assuming deposits of bank locations in Concordia, Belleville and Clyde, Kansas, which were previously acquired in the ASB acquisition, from Equity Bank. UBT and Equity anticipate completing the acquisition in the second quarter of 2022.

SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2021

NOTE 15 – SUBSEQUENT EVENTS

On October 1, 2021, the Company completed its acquisition of American State Bancshares, Inc. (“ASB”) pursuant to the terms of the Agreement and Plan of Reorganization, dated May 14, 2021 (the “Merger Agreement”), by and among the Company, Greyhounds Merger Sub, Inc., and ASB. At the effective time of the merger (the “Effective Time”), Greyhounds Merger Sub, Inc. merged with and into ASB, with ASB surviving the merger as a wholly-owned subsidiary of the Company. Following the Effective Time, ASB merged with and into the Company, with the Company surviving the merger. Subsequently, American State Bank & Trust Company (“American State Bank”), ASB’s wholly-owned banking subsidiary, merged into Equity Bank, with Equity Bank surviving the merger. American State Bank had a total of seventeen locations in Kansas prior to its merger with Equity Bank. Results of operations of ASB were included in the Company’s results of operations beginning October 2, 2021. Acquisition costs related to this acquisition during the nine months ended September 30, 2021, were $4,390 ($3,401 on an after-tax basis).

In connection with the merger, the Company assumed ASB’s rights, title and obligations under the indenture, dated as of September 15, 2005 (the “Indenture”), by and between ASB and the Wilmington Trust Company (the “Trustee”), pursuant to that certain First Supplemental Indenture, dated as of October 1, 2021 (the “Supplemental Indenture”), by and among the Company, ASB and the Trustee. ASB had issued $7,732 principal amount of its Floating Rate Junior Subordinated Deferrable Interest notes due 2035 under the Indenture.

In their September 30, 2021, unaudited Consolidated Report of Condition, American State Bank reported total assets of $788,452, which included total loans of $452,690 and securities of $177,207. At September 30, 2021, total liabilities of $690,098 were reported by American State Bank, which included deposits of $659,072. American State Bank reported $5,388 in net income before income taxes for the nine months ended September 30, 2021. The Company anticipates there will be goodwill and core deposit

intangibles recorded with this acquisition. Goodwill is calculated as the excess of the cash consideration transferred over the net of the acquisition-date fair value of identifiable assets acquired and liabilities assumed.

On July 19, 2021, the Company announced that Equity Bank signed a definitive branch purchase and assumption agreement to acquire the assets and assume the deposits of three bank locations in St. Joseph, Missouri, from Security Bank of Kansas City, a subsidiary of Valley View Financial Co. of Overland Park, Kansas. The Company anticipates closing the transaction in the fourth quarter of 2021, subject to customary closing conditions, including the receipt of regulatory approval.

On October 25, 2021, the Company announced that Equity Bank signed a definitive purchase and assumption agreement with United Bank & Trust in Marysville, Kansas, (“UBT”) with UBT acquiring certain assets and assuming deposits of bank locations in Concordia, Belleville and Clyde, Kansas, which were previously acquired in the ASB acquisition, from Equity Bank. UBT and Equity anticipate completing the acquisition in the second quarter of 2022.