Equity Bancshares sells equity: Midwest bank sets terms for $41 million IPO

Equity Bancshares, a commercial bank with $1.4 billion in assets and 25 locations in KS and MO, announced terms for its IPO on Monday.
The Wichita, KS-based company plans to raise $41 million by offering 1.8 million shares (16% insider) at a price range of $22 to $24. At the midpoint of the proposed range, Equity Bancshares would command a fully diluted market value of $183 million.
Equity Bancshares, which was founded in 2002 and booked $53 million in revenue for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol EQBK. Keefe Bruyette Woods and Stephens are the joint bookrunners on the deal. It is expected to price during the week of November 9, 2015.

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