Cordell Bank Sold

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August 30, 2022

By News Director Jared Atha

Equity Bank has announced its entry into a definitive purchase and assumption agreement with High Plains Bank of Okeene with High Plains acquiring certain assets and assuming deposits of Equity’s bank location in Cordell.

High Plains and Equity anticipate completing the acquisition by December 31, 2022.

Equity Bank is located in Cordell at 110 E. First Street. Equity entered Oklahoma in 2017 with the Company’s acquisitions of the holding companies of Eastman National Bank in Ponca City and Patriot National Bank in Tulsa. Equity added an additional market in Guymon in 2018 with its purchase of City National Bank and Trust, and followed that merger with a branch purchase and assumption agreement with MidFirstBank, acquiring its Cordell location and an additional Guymon location. After completion of the Cordell transaction, Equity will operate eight bank locations in its Oklahoma footprint.

Equity’s Cordell location has approximately $20 million in deposits.

After closing of the agreement, High Plains’ Cordell market will include approximately $35 million in deposits, ranking No. 5 in Washita County, according to FDIC Market Share data from S&P Global. The purchase and assumption of the Cordell location is subject to regulatory approval and satisfaction of customary closing conditions.

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