Equity Bancshares in Wichita, Kan., is planning to raise up to $36 million through an initial public offering.

The $1.5 billion-asset bank said in a press release Monday that it plans to sell 1.5 million shares of its common stock for $22 to $24 a share. Certain shareholders plan to sell another 290,000 shares of stock.

Equity said it could sell 268,500 additional shares if there is excess demand.

 

The company paid $14.7 million in cash last month to buy First Independence in Independence, Kan.

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