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BRIEF-Equity Bancshares announces two merger agreements
July 17, 2017 / 12:14 PM / 2 months ago

BRIEF-Equity Bancshares announces two merger agreements

July 17 (Reuters) - Equity Bancshares Inc:

* Equity Bancshares Inc expands into Oklahoma, announces two merger agreements with Eastman National Bank and Patriot Bank

* Equity Bancshares Inc - equity entered into definitive merger agreements with Eastman National Bancshares Inc. and Cache Holdings Inc

* Says ‍aggregate transaction value is approximately $46.6 million​

* Says ‍expects merger to be approximately $0.20 accretive to diluted earnings per share in 2018​

* Says ‍expects merger to be approximately $0.21 accretive to earnings per share in 2019​

* Equity Bancshares Inc - equity will acquire all outstanding shares of eastman common stock

* Equity Bancshares Inc - equity expects merger to be approximately 3.2% dilutive to tangible book value per share at closing

* Equity Bancshares - sees merger to be about 3.2% dilutive to tangible book value per share at closing, expects tangible book value earnback to be 2.8 years​

* Equity Bancshares Inc - agreement approved by boards of directors of Equity and Patriot

* Says ‍shareholders of Patriot will have right to receive an aggregate consideration of approximately $2,288.33 per share​

* Says ‍Equity will acquire all outstanding shares of Patriot common stock​

* Equity Bancshares - deal provides each share of Patriot will have right to receive fixed exchange ratio of 53 shares of equity class A stock, $615.12 cash​

* Says Equity expects Patriot merger to be approximately 2.1% dilutive to tangible book value per share​ Source text for Eikon: Further company coverage:

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