-
A Kansas banking company that last week raised fresh capital to fuel its growth has struck a deal that would more than double its size.
June 5
Equity Bancshares in Wichita, Kan., plans to merge its two banking units to reduce expenses.
The $594.6 million-asset Equity Bank in Wichita, and the $5.6 million-asset Signature Bank in Haddam, Kan., will be combined under the Equity name, the parent company said this week. Regulators are expected to approve the merger this quarter.
Combining the two banks should result in "increased revenue opportunities, better risk management and improved infrastructure to support company and bank strategy," Brad Elliott, Equity Bancshares's chairman and chief executive, said in a news release.
Equity Bank has