Equity Bancshares, the parent company of Equity Bank, has wrapped up the previously announced acquisition of City Bank and Trust Company (CBT) in Guymon, Oklahoma.
The deal concluded after Equity and CBT recently received federal and state approval for the merger.
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In June this year, Equity signed a merger agreement with CBT, which was scheduled to conclude in early October.
Transition of computer systems, forms, customer communication, and improvements to online banking, commercial banking, and personal banking products are expected to be completed in early October.
Equity Bancshares chairman and CEO Brad Elliott said: “We’re proud to welcome the team at City Bank as well as the customers and communities they serve.
“As the 18th strategic combination for our franchise, CBT is an outstanding fit for our Equity culture and for the surrounding markets we serve in Guymon, the Panhandle of Oklahoma, and Southwest Kansas.
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By GlobalData“We’re pleased to complete the merger within seventy-two days of announcement and I thank all the Equity and CBT teams for their hard work and dedication.”
Equity will now manage a total of 49 full-service local bank branches in Kansas, Missouri, Arkansas and Oklahoma, with six in Oklahoma.
It now has about $3.9bn in consolidated total assets, including $2.5bn in loans, as well as $2.8bn in deposits.
Merger with CBT is Equity’s third deal in 2018 and fifth over the last ten months. In May, Equity announced the simultaneous completion of mergers with Kansas Bank Corporation as well as Kansas and Adams Dairy Bancshares.
In November last year, Equity announced the simultaneous completion of mergers with Eastman National Bancshares, as well as Cache Holdings.
