Mergers & Acquisitions ·
Equity Bancshares, Inc. announced on September 2, 2026, a definitive merger agreement to acquire Lincoln Bancorp, the…
EQBKEquity Bancshares Inc
Equity Bancshares, Inc. announced on September 2, 2026, a definitive merger agreement to acquire Lincoln Bancorp, the parent company of Lincoln Savings Bank. The transaction values total consideration at approximately $123.8 million based on Equity's spot price of $49.85. Lincoln shareholders will receive merger consideration consisting of approximately 77.5% Equity Class A common stock and 22.5% cash, with the option to elect between stock or cash components subject to proration procedures. The acquisition adds 16 branch locations in Iowa, including Des Moines and Waterloo-Cedar Falls markets. Pro forma financials estimate $9.1 billion in total assets for the combined entity. The transaction is expected to be accretive to Equity's 2027 earnings per share by 5.1% ($0.27) and 7.5% ($0.42) in 2028, excluding one-time expenses. Closing is anticipated in the fourth quarter of 2026, subject to regulatory approvals and shareholder consent. Equity Bancshares, Inc. operates as a community bank holding company providing commercial loans, consumer banking, mortgage loans, trust services, and treasury management.