WICHITA, Kan., December 7, 2023- “It was a deal a long time in the making — and one consistent with an approach Equity Bank has followed over its history.”
That was how the Wichita Business Journal continued its coverage Wednesday of Equity Bank’s announcement to merge with the Bank of Kirksville, showcasing interviews with two of the company’s top executives about the deal and the bank’s future outlook.
CEO Brad Elliott and CFO Chris Navratil spoke with WBJ reporter, Josh Witt, Wednesday.
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Elliott said of the $44.3 million deal, “It’s what we do well. It’s one of the reasons we were interested in it. They don’t have any credit issues whatsoever. They have a really good deposit base. So it’s really down the middle of the fairway.”
Elliott continued, “It’s a community that we do well in. It’s very similar to Warrensburg, Mo. and St. Joseph, Mo., in that it’s a college town and actually has two colleges. We think it’s a very stable market with a really good customer base.”
The company also announced a repositioning of its bond portfolio Wednesday.
Witt reported the stock price jumped 9.5% that afternoon to $29.45 per share.
Navratil told Witt he expects the deal to receive necessary regulatory approval.
“We’re still very optimistic that we’ll be able to get it closed,” Navratil said.