EQBK Equity Bancshares Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 10, 2024

 

 

EQUITY BANCSHARES, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Kansas			001-37624	72-1532188
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
7701 East Kellogg Drive Suite 300
Wichita, Kansas				67207
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 316 612-6000

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A, Common Stock, par value $0.01 per share		EQBK		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Promotion of Richard M. Sems to Chief Executive Officer of Equity Bank

On May 10, 2024, Equity Bancshares, Inc. (the “Company”) announced the promotion of Richard M. Sems to Chief Executive Officer of Equity Bank. Mr. Sems, age 52, joined Equity Bank in May 2023. Prior to his promotion he served as President of Equity Bank.

There are no family relationships between Mr. Sems and any director or executive officer of the Company, or person nominated or chosen by the Company to become a director or executive officer of the Company, nor are there any arrangements or understandings between Mr. Sems and other persons pursuant to which he was appointed as an executive officer of the Company. The Company has had no transactions since the beginning of its last fiscal year, and has no transactions proposed, in which Mr. Sems or any member of his immediate family, has a direct or indirect material interest that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.

Brad Elliott will continue to maintain his role as Chairman and Chief Executive Officer of the Company and Chairman of Equity Bank.

Promotion of Julie A. Huber to Chief Operating Officer

On May 10, 2024, the Company also announced the promotion of Julie A. Huber to Chief Operating Officer. Ms. Huber, age 53, previously served as Executive Vice President, Strategic Initiatives. Ms. Huber joined Equity Bank in 2003 and has served in a variety of leadership roles, including overseeing operations, human resources, compliance, sales and training, strategy implementation, and has managed the integration process for each community bank the Company has acquired.

There are no family relationships between Ms. Huber and any director or executive officer of the Company, or person nominated or chosen by the Company to become a director or executive officer of the Company, nor are there any arrangements or understandings between Ms. Huber and other persons pursuant to which she was appointed as an executive officer of the Company. The Company has had no transactions since the beginning of its last fiscal year, and has no transactions proposed, in which Ms. Huber or any member of her immediate family, has a direct or indirect material interest that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.

Item 7.01 Regulation FD Disclosure.

The press release announcing the promotions of Mr. Sems and Ms. Huber is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, unless specifically identified therein as being incorporated therein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit No.	Description
99.1	Press Release, dated May 10, 2024.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			Equity Bancshares, Inc.
Date:	May 10, 2024	By:	/s/ Chris M. Navratil
			Chris M. Navratil Executive Vice President and Chief Financial Officer

 

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Equity Bancshares, Inc. Announces Promotions of Top Executives
Rick Sems named CEO of Equity Bank, Julie Huber named Chief Operating Officer

 

WICHITA, Kansas, May 10, 2024 – Equity Bancshares, Inc. (NYSE: EQBK), (“Equity”, “we”, “us”, “our”, the “Company”), the Wichita-based holding company of Equity Bank (the “Bank”), announced the promotion of two current executives to align the Bank and Company for current and anticipated future growth. Equity Bank President Richard M. Sems has been named Chief Executive Officer of Equity Bank, and Julie A. Huber has been named Chief Operating Officer.

 

“We’re pleased to recognize more Equity success stories built on entrepreneurial spirit,” said Equity Bancshares, Inc. Chairman & Chief Executive Officer Brad Elliott. “Our company was built to foster talent and drive growth, and we continue to position both our company and people to maintain those principles as we build for the future. Rick and Julie are excellent examples of skilled leaders who, in these expanded roles, will drive the Company and Bank to new heights.”

 

Mr. Elliott maintains his role as Chairman & CEO of the Company and Chairman of the Bank, working with Mr. Sems to drive organic growth through sales calling efforts. In addition, Mr. Elliott will continue to focus on merger and acquisition opportunities while positioning the Company for the next phase of regulatory requirements. Mr. Elliott’s oversight of the Company will continue to drive strategic growth.

 

Since Mr. Elliott founded the Company in 2002, Equity Bank has completed 23 combined whole-bank, deposit, or branch acquisitions, including 12 whole-bank acquisitions since the Company’s IPO in 2015.

 

Mr. Sems joined Equity Bank as President in May 2023, overseeing all of Equity Bank’s sales and service teams, including customer-facing resources, business lines, and leadership in commercial, retail, mortgage, and trust. As Bank CEO, Mr. Sems will continue to lead organic growth of consumer and business product lines at its 73 locations, as well as the day-to-day operations of the Bank.

 

“I am pleased with all that we’ve been able to accomplish in my first year at the Company,” said Mr. Sems. “I look forward to leading our Bank into a prosperous future for our team members and customers.”

 

Ms. Huber joined Equity Bank in 2003 and has worked in several leadership roles, including leadership of credit administration, strategic initiatives, risk and compliance, and others. As COO, Ms. Huber will lead all bank operations, including credit and deposit operations, card services, digital customer experience tools, customer care, merger and acquisition integration, and risk and compliance.

 

"I am eager to continue to contribute to our Bank's success, while working to drive safe and consistent growth,” Ms. Huber said. “Together, we’ll navigate the complexities of the financial landscape, steering our Bank towards greater heights, fostering innovation, and ensuring operational excellence.”
 

About Equity Bancshares, Inc.

Equity Bancshares, Inc. is the holding company for Equity Bank, offering a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, trust and wealth management services and treasury management services, while delivering the high-quality, relationship-based customer service of a community bank. Equity’s common stock is traded on The New York Stock Exchange under the symbol “EQBK.” Learn more at www.equitybank.com.

 

 

Special Note Concerning Forward-Looking Statements

 

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements reflect the current views of Equity’s management with respect to, among other things, future events and Equity’s financial performance. These statements are often, but not always, made through the use of words or phrases such as “may,” “should,” “could,” “predict,” “potential,” “believe,” “will

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likely result,” “expect,” “continue,” “will,” “anticipate,” “seek,” “estimate,” “intend,” “plan,” “project,” “forecast,” “goal,” “target,” “would” and “outlook,” or the negative variations of those words or other comparable words of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about Equity’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond Equity’s control. Accordingly, Equity cautions you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although Equity believes that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from Equity’s expectations include competition from other financial institutions and bank holding companies; the effects of and changes in trade, monetary and fiscal policies and laws, including interest rate policies of the Federal Reserve Board; changes in the demand for loans; fluctuations in value of collateral and loan reserves; inflation, interest rate, market and monetary fluctuations; changes in consumer spending, borrowing and savings habits; and acquisitions and integration of acquired businesses; and similar variables. The foregoing list of factors is not exhaustive.

 

For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in Equity’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 7, 2024, and any updates to those risk factors set forth in Equity’s subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if Equity’s underlying assumptions prove to be incorrect, actual results may differ materially from what Equity anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and Equity does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. New risks and uncertainties arise from time to time, and it is not possible for us to predict those events or how they may affect us. In addition, Equity cannot assess the impact of each factor on Equity’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Equity or persons acting on Equity’s behalf may issue.

 

Media Contact:

 

John J. Hanley

Chief Marketing Officer

Equity Bancshares, Inc.

(913) 583-8004

jhanley@equitybank.com

 

Investor Contact:

 

Brian Katzfey

VP, Director of Corporate Development and Investor Relations

Equity Bancshares, Inc.

(316) 858-3128

bkatzfey@equitybank.com

 

 

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Document And Entity Information	May 10, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	May 10, 2024
Entity Registrant Name	EQUITY BANCSHARES, INC.
Entity Central Index Key	0001227500
Entity Emerging Growth Company	false
Entity File Number	001-37624
Entity Incorporation, State or Country Code	KS
Entity Tax Identification Number	72-1532188
Entity Address, Address Line One	7701 East Kellogg Drive
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Wichita
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	67207
City Area Code	316
Local Phone Number	612-6000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A, Common Stock, par value $0.01 per share
Trading Symbol	EQBK
Security Exchange Name	NYSE

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