Equity Bancshares, Inc. (NYSE:EQBK) entered into a definitive merger agreement to acquire Rockhold Bancorp for $44.3 million on December 5, 2023. Under the terms of the merger agreement, Equity Bancshares will pay approximately $44.3 million in cash to acquire Rockhold and Bank of Kirksville. Bank of Kirksville will merge with and into Equity Bank.

The actual aggregate transaction value may be subject to adjustment based on the adjusted equity capital of Rockhold as of the closing, as further set forth in the definitive merger agreement. The closing of the transaction is subject to customary closing conditions, including regulatory approval. Rockhold?s sole shareholder has approved the transaction.

Norton Rose Fulbright US LLP acted as a legal advisor to Equity Bancshares. Justin Evans and Adam Glasier of Stephens Inc. provided fairness opinion to Equity Bancshares. Greg Johnson of Stinson LLP acted as a legal counsel to Rockhold.

The Capital Corporation provided fairness opinion to Rockhold. Following completion of the merger in the first quarter of 2024.