Equity Bank in Wichita, Kansas, (“Equity”) and High Plains Bank in Okeene, Oklahoma, (“High Plains”) announced a definitive purchase and assumption agreement for High Plains to acquire certain assets and assume the deposits of Equity’s bank location in Cordell, Oklahoma. High Plains and Equity anticipate completing the transaction by December 31, 2022.
“We’re pleased to add an additional location and new team members to our Washita County footprint and our banking offices in Western Oklahoma,” said Dirk Bagenstos, Chairman and CEO of High Plains. “We are like minded with Equity, in that we do what’s right for our customers, communities, and our team members, and in this case, we’re pleased to add to our opportunities to serve our community and customers in Washita County and Cordell.”
High Plains currently operates five banking locations in Alva, Boise City, Cordell, Keyes and Okeene, Oklahoma.
Equity Bank is located at 110 E. First Street in Cordell, and has additional Oklahoma locations in Guymon, Ponca City, Newkirk, and Tulsa in its four-state footprint across Oklahoma, Kansas, Arkansas and Missouri.
“Our focus as a community bank is our customers, and doing what is right for our communities, businesses, and families in our regions,” said Brad Elliott, Chairman and CEO of Equity Bancshares, parent company of EquityBank. “This includes working with strong community banks to ensure that local bank locations continue to appeal to and reflect the customers they serve. We believe we’ve found a leadership and customer service team as well as a trusted brand that will continue to serve our customers in Cordell for the long term.”
Equity’s Cordell location has approximately $20 million in deposits. After closing of the transaction, High Plains’ Cordell market will include approximately $35 million in deposits, ranking No. 5 in Washita County, Oklahoma, according to FDIC Market Share data from S&P Global. The purchase and assumption of the Cordell location is subject to regulatory approval and satisfaction of customary closing conditions. Following completion of the transaction, Equity and High Plains will work together with local team members, customers, and the community to ensure a seamless transition for customers.
“I’m thankful to the dedicated bankers in Cordell who helped us ensure a great experience for our customer base in Oklahoma,” said Mr. Elliott. “We’re pleased to work with exceptional bankers focused on their local communities, and we have no doubt the Cordell team will be an asset for a strong community bank brand based in Oklahoma.”
About Equity Bank
Equity Bank offers a full range of financial solutions, including commercial loans, consumer banking, mortgage loans, and treasury management services. As of June 30, 2022, Equity reported $5.0 billion in consolidated total assets, deposits of $4.3 billion and loans of $3.2 billion in its bank network of Arkansas, Kansas, Missouri and Oklahoma. Learn more at www.equitybank. com.
About High Plains Bank
High Plains Bank is a subsidiary of First Keyes Bancshares, Inc. of Keyes, Oklahoma, and principally does business through its network of five branch facilities in Alva, Boise City, Cordell, Keyes and Okeene, Oklahoma. As of June 30, 2022, High Plains had $160 million in consolidated total assets.