Wichita, Kan., December 06, 2021 (Globe Newswire) — Fairness Financial institution, Fairness BankShares, Inc. (a subsidiary of the “Fairness” or “Firm”) introduced that it has accomplished its buy and assumption settlement on Dec. 3, 2021, receiving property and deposits from Safety Financial institution of Kansas Metropolis (“Safety Financial institution”) at three financial institution places in St. Joseph, Missouri, Valley View Bankshare, Inc. Subsidiary of Overland Park, Kansas. Fairness introduced its entry into the St. Joseph, Missouri market on July 19, 2021.
“ST. Joseph is a wonderful match for our rising Fairness Financial institution community,” stated Fairness President and CEO Brad Elliott. “We’re happy so as to add financial institution places to our northern Missouri footprint, and we’re assured that our native management And our deal with our St. Joseph clients will attraction to a variety of companies and households within the area.
“Our technique prepares us to ship hometown group banking throughout all of our places with a complicated product and expertise set, native dedication and experience mixed with a complicated product and expertise set,” Mr. Elliot stated. “Our personalized enterprise banking options and entrepreneurial focus entice a rising enterprise clientele, and our progressive client merchandise and dedication to group focus are nice sources for our shoppers throughout our fairness footprint, together with St.
Fairness Financial institution has three places in St. Joseph’s at 602 Edmund Avenue, 401 N. Woodbine Street and 5348 Lake Ave. Josh Means, Western Missouri’s President of Fairness, will oversee the St. Joseph Financial institution places, together with eight Western Missouri Neighborhood Banking places. Fairness will function a complete of 16 places in Missouri, together with 5 financial institution places on the Missouri facet of the Kansas Metropolis metropolitan space.
In 2007 Sarcoxie, Mo. Fairness expanded to Missouri with the acquisition of a financial institution constitution in 2012, earlier than opening a debt manufacturing workplace at Lee’s Summit, Mo. Fairness acquired First Neighborhood Bankshares, Inc. of Overland Park, Kansas and its 11 Missouri places. Adams Dairy Bankshares, Inc. of Blue Springs, Missouri, in October 2012, and Could 2018. acquired. Since coming into western Missouri in 2012, Fairness has skilled a rise in deposits and loans to its buyer base. As of September 30, 2018, deposits within the Western Missouri area of fairness have been $496.7 million, in comparison with $615 million as of September 30, 2021. Complete debt within the Western Missouri space of fairness was $153.4 million as of September 30, 2018, in comparison with $208.4 million. of September 30, 2021.
Fairness lately acquired American State BankShares, Inc. on October 1. (“ASBT”), including $780 million of Asset Financial institution places to its Kansas footprint with headquarters in Wichita, Kansas. Fairness’s franchise now consists of 70 financial institution places in 4 states and roughly $5.0 billion in property.
In accordance with the phrases of the Department Buy and Estimation Settlement between Fairness Financial institution and Safety Financial institution, Fairness Financial institution acquired sure loans and different branch-related property, and assumed sure deposits and different liabilities related to Safety Financial institution branches.
Fairness Bankshares, Inc. about
Fairness Bankshare, Inc. is the mother or father firm of Fairness Financial institution, which gives a full vary of monetary options together with business lending, client banking, mortgage lending and treasury administration providers.
Fairness offers clients with an enhanced banking expertise by way of a collection of subtle banking services tailor-made to their wants, whereas offering the high-quality, relationship-based customer support of a group financial institution. Fairness widespread inventory is traded below the image “EQBK” on the NASDAQ International Choose Market. Study extra at www.equitybank.com.
About Safety Financial institution of Kansas Metropolis
Safety Financial institution is a full service financial institution established in 1933 and primarily based in Kansas Metropolis, Kansas. As of March 31, 2021, Safety Financial institution had consolidated internet property of $3.6 billion and had 43 financial institution places in and across the Kansas Metropolis metropolitan space.
no supply or solicitation
This press launch is not going to represent a proposal to promote, a solicitation to promote, or a solicitation or supply to purchase any safety. No sale of securities shall happen in any jurisdiction during which such supply, solicitation or sale can be illegal previous to registration or qualification below the securities legal guidelines of any such jurisdiction. No supply of securities shall be made as amended, besides in a prospectus that fulfills the requirement of part 10 of the Securities Act 1933.
Particular Word Relating to Ahead-looking Statements
This press launch incorporates “forward-looking statements inside the which means of part 27A of the Securities Act of 1933, as amended, and part 21E of the Securities Trade Act, 1934, as amended. These forward-looking statements shall, amongst different issues, replicate future occasions and fairness.” Mirror the present views of equities’ administration with respect to monetary efficiency. These statements are sometimes, however not at all times, “may,” “ought to,” “might be,” “predict,” “in all probability,” “imagine, are made by way of the usage of phrases or phrases similar to “the consequence can be,” “anticipate,” “proceed,” “will,” “estimate,” “searching for,” “estimate,” “intend,” “plan,” “mission,” “forecast,” “goal,” “purpose,” “will” and “method,” or damaging variations of these phrases or different comparable phrases of a future or forward-looking nature. These forward-looking statements will not be historic information, and are primarily based on present expectations, estimates and projections in regards to the equities trade, administration’s beliefs and sure assumptions made by administration, lots of which, by their nature, are inherently unsure and Fairness is past its management. Accordingly, Fairness cautions you that any such forward-looking statements will not be a assure of future efficiency and are topic to dangers, assumptions and uncertainties which can be tough to foretell. Though Fairness believes the expectations mirrored in these forward-looking statements are affordable as of the date they have been made, precise outcomes may show to be materially completely different from the outcomes expressed or implied by the forward-looking statements. Elements that might trigger precise outcomes to vary materially from fairness expectations embody competitors from different monetary establishments and financial institution holding corporations; the results and adjustments of commerce, financial and monetary insurance policies and legal guidelines, together with the rate of interest insurance policies of the Federal Reserve Board; change in demand for credit score; fluctuations within the worth of collateral and mortgage reserves; Inflation, rates of interest, market and financial fluctuations; Modifications in client spending, borrowing and saving habits; and acquisitions and integration of acquired companies, and comparable variables. The foregoing listing of things just isn’t exhaustive.
For a dialogue of those and different dangers that might trigger precise outcomes to vary materially from expectations, please check with the “Warning Word Relating to Ahead-looking Statements” in Fairness’s Annual Report on Type 10-Ok filed with the Securities and Trade Fee and See “Danger Elements”. As of March 9, 2021, and any updates to these threat components are set out in Fairness’s subsequent quarterly report on Type 10-Q or the present report on Type 8-Ok. If a number of occasions associated to those or different dangers or uncertainties happen, or if the underlying assumptions of Fairness show to be incorrect, precise outcomes could differ materially from these anticipated by Fairness. Accordingly, you shouldn’t place undue reliance on any such forward-looking statements. Any forward-looking assertion speaks solely as of the date it’s made, and Fairness undertakes no obligation to publicly replace or assessment any forward-looking assertion, whether or not as new info, future growth or in any other case consequence. New dangers and uncertainties come up infrequently, and it’s not doable for us to foretell these occasions or how they might have an effect on us. As well as, Fairness can’t assess the influence of every issue on Fairness’s enterprise or that any issue, or mixture of things, may trigger precise outcomes to vary materially from these contained in any forward-looking statements. All forward-looking statements, expressed or implied, contained on this press launch are totally certified as expressly by this warning assertion. This warning assertion also needs to be thought-about in relation to any subsequent written or oral forward-looking statements that Fairness or people performing on behalf of Fairness could make.
Annual, professional forma, estimated and projected numbers are used for illustrative objective solely, will not be forecasts and should not replicate precise outcomes.
vital further info
This communication doesn’t represent a proposal to promote any securities or a solicitation of a proposal. Traders and safety holders are urged to fastidiously assessment and think about Fairness’s public filings with the SEC, together with its annual report on Type 10-Ok, its proxy statements, its present stories on Type 8-Ok and Its quarterly stories embody, however will not be restricted to. 10-Q. Paperwork filed by Fairness with the SEC could be discovered freed from cost at Fairness’s Investor Relations web site at investor.equitybank.com or on the SEC’s web site at www.sec.gov. Alternatively, these paperwork could, when out there, be obtained freed from cost from Fairness upon written request at Fairness BancShares, Inc., Attn: Investor Relations, 7701 East Kellogg Drive, Suite 300, Wichita, Kansas at 67207 or by calling (316) 612 can go. -6000.
John J. hanley
SVP, Advertising Director
Fairness Bankshare, Inc.
Fairness Bankshare, Inc.