Equity Bancshares to sell three northern Kan. branches

Equity Bancshares in Wichita, Kan., has agreed to sell branches in three northern Kansas markets to UBT Bancshares in Marysville, Kan.

The $4.3 billion-asset Equity said in a press release Monday that it will sell three branches, located in Concordia, Belleville and Clyde, to the parent of the $738 million-asset United Bank and Trust. 

The sale, which includes $60 million of deposits and $24 million of loans, is expected to close in the second quarter. 

“Our focus as a community bank includes doing what is right for our communities, businesses, and families in our regions while delivering value to our shareholders” Brad Elliott, Equity’s chairman and CEO, said in the release. 

The branches “will serve as a resource to consumers and businesses as part of a like-minded bank network in United Bank and Trust,” Elliott added. 

Equity had gained the branches from its recent purchase of AmericanState Bancshares. 

UBT Bancshares was advised by Stinson.