Equity Bancshares to buy Lincoln Bancorp in deal valued at about $123.8 million
EQBK•EQBK•EQBK•EQBK•Equity Bancshares will acquire Lincoln Bancorp, adding 16 Iowa locations and expanding its platform in the state; closing is targeted for Q4 2026.
Lincoln shareholders are to receive 77.5% of the consideration in EQBK stock and 22.5% in cash. The deal is valued at about $123.8 million.
Lincoln had $1.7 billion in assets, $1.2 billion in loans and $1.5 billion in deposits as of June 30, 2026.
Equity had $7.7 billion in assets, and the combined pro forma company would have about $9.1 billion after reducing excess liquidity.
The transaction is expected to add 5.1% to 2027 EPS and 7.5% to 2028 EPS. Tangible book dilution payback is projected to be under three years.
