Fairness Financial institution Completes Acquisition of St. Joseph, Mo.


WICHITA, Kan., Dec. 06, 2021 (GLOBE NEWSWIRE) — Fairness Financial institution, a subsidiary of Fairness Bancshares, Inc. (“Fairness” or the “Firm”), introduced that it has accomplished its buy and assumption settlement on December 3, 2021, buying the property and assuming the deposits of three financial institution areas in St. Joseph, Missouri from Safety Financial institution of Kansas Metropolis (“Safety Financial institution”), a subsidiary of Valley View Bancshares, Inc. of Overland Park, Kansas. Fairness introduced the doorway into the St. Joseph, Missouri market on July 19, 2021.

“St. Joseph is a superb match for our rising Fairness Financial institution community,” mentioned Brad Elliott, Chairman and CEO of Fairness. “We’re happy so as to add financial institution areas to our Northern Missouri footprint, and we imagine our native management and give attention to our St. Joseph prospects will attraction to a variety of companies and households within the area.

“Our technique positions us to ship hometown group banking in all of our areas with a complicated product and expertise set, elevated lending capability, with the native dedication and experience that regional prospects belief,” mentioned Mr. Elliott. “Our custom-made enterprise banking options and entrepreneurial focus attraction to rising enterprise prospects, and our modern client merchandise and dedication to group focus are nice sources for our prospects all through our Fairness footprint, together with St. Joseph.”

Fairness Financial institution’s three areas in St. Joseph are situated at 602 Edmond Road, 401 N. Woodbine Highway, and 5348 Lake Avenue. Josh Means, Fairness’s President of Western Missouri, will oversee the St. Joseph financial institution areas, together with eight Western Missouri group banking areas. Fairness will function 16 whole areas in Missouri, together with 5 financial institution areas on the Missouri aspect of the Kansas Metropolis metropolitan space.

Fairness expanded into Missouri in 2007 with the acquisition of a financial institution constitution in Sarcoxie, Mo., earlier than opening a mortgage manufacturing workplace in Lee’s Summit, Mo. Fairness acquired First Group Bancshares, Inc. of Overland Park, Kansas and its 11 Missouri areas in October 2012, and bought Adams Dairy Bancshares, Inc. of Blue Springs, Missouri in Might 2018. Since coming into Western Missouri in 2012, Fairness has skilled progress in deposits and loans in its buyer base. As of September 30, 2018, deposits in Fairness’s Western Missouri area had been $496.7 million, in comparison with $615 million as of September 30, 2021. Complete loans in Fairness’s Western Missouri area had been $153.4 million as of September 30, 2018, in comparison with $208.4 million as of September 30, 2021.

Fairness lately accomplished a merger with American State Bancshares, Inc. (“ASBT”) on October 1, including areas from the $780-million asset financial institution with headquarters in Wichita, Kansas to its Kansas footprint. Fairness’s franchise now includes 70 financial institution areas throughout 4 states and roughly $5.0 billion in property.

Pursuant to the phrases of the Department Buy and Assumption Settlement between Fairness Financial institution and Safety Financial institution, Fairness Financial institution acquired sure loans and different branch-related property, and assumed sure deposit and different liabilities related to the Safety Financial institution branches.  

About Fairness Bancshares, Inc.

Fairness Bancshares, Inc. is the father or mother firm of Fairness Financial institution, providing a full vary of economic options, together with business loans, client banking, mortgage loans, and treasury administration providers.

Fairness offers an enhanced banking expertise for purchasers by a set of refined banking services tailor-made to their wants, whereas delivering the high-quality, relationship-based customer support of a group financial institution. Fairness’s widespread inventory is traded on the NASDAQ World Choose Market beneath the image “EQBK.” Study extra at www.equitybank.com.

About Safety Financial institution of Kansas Metropolis

Safety Financial institution is a full service financial institution based in 1933 and primarily based in Kansas Metropolis, Kansas. Safety Financial institution had $3.6 billion in consolidated whole property as of March 31, 2021 and 43 financial institution areas in and across the Kansas Metropolis metropolitan space.

No Provide or Solicitation

This press launch shall not represent a suggestion to promote, a solicitation of a suggestion to promote, or the solicitation or a suggestion to purchase any securities. There will probably be no sale of securities in any jurisdiction wherein such a suggestion, solicitation or sale can be illegal previous to registration or qualification beneath the securities legal guidelines of any such jurisdiction. No provide of securities shall be made besides by way of a prospectus assembly the requirement of Part 10 of the Securities Act of 1933, as amended.

Particular Word Regarding Ahead-Trying Statements

This press launch comprises “forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934, as amended.   These forward-looking statements mirror the present views of Fairness’s administration with respect to, amongst different issues, future occasions and Fairness’s monetary efficiency. These statements are sometimes, however not all the time, made by the usage of phrases or phrases similar to “might,” “ought to,” “may,” “predict,” “potential,” “imagine,” “will seemingly outcome,” “count on,” “proceed,” “will,” “anticipate,” “search,” “estimate,” “intend,” “plan,” “venture,” “forecast,” “objective,” “goal,” “would” and “outlook,” or the unfavorable variations of these phrases or different comparable phrases of a future or forward-looking nature.   These forward-looking statements are usually not historic information, and are primarily based on present expectations, estimates and projections about Fairness’s trade, administration’s beliefs and sure assumptions made by administration, a lot of which, by their nature, are inherently unsure and past Fairness’s management. Accordingly, Fairness cautions you that any such forward-looking statements are usually not ensures of future efficiency and are topic to dangers, assumptions and uncertainties which might be troublesome to foretell. Though Fairness believes that the expectations mirrored in these forward-looking statements are affordable as of the date made, precise outcomes might show to be materially completely different from the outcomes expressed or implied by the forward-looking statements.   Elements that would trigger precise outcomes to vary materially from Fairness’s expectations embody competitors from different monetary establishments and financial institution holding firms; the consequences of and adjustments in commerce, financial and financial insurance policies and legal guidelines, together with rate of interest insurance policies of the Federal Reserve Board; adjustments within the demand for loans; fluctuations in worth of collateral and mortgage reserves; inflation, rate of interest, market and financial fluctuations; adjustments in client spending, borrowing and financial savings habits; and acquisitions and integration of acquired companies, and related variables. The foregoing record of things is just not exhaustive.

For dialogue of those and different dangers that will trigger precise outcomes to vary from expectations, please discuss with “Cautionary Word Concerning Ahead-Trying Statements” and “Danger Elements” in Fairness’s Annual Report on Kind 10-Okay filed with the Securities and Trade Fee on March 9, 2021 and any updates to these danger elements set forth in Fairness’s subsequent Quarterly Stories on Kind 10-Q or Present Stories on Kind 8-Okay. If a number of occasions associated to those or different dangers or uncertainties materialize, or if Fairness’s underlying assumptions show to be incorrect, precise outcomes might differ materially from what Fairness anticipates. Accordingly, you shouldn’t place undue reliance on any such forward-looking statements. Any forward-looking assertion speaks solely as of the date on which it’s made, and Fairness doesn’t undertake any obligation to publicly replace or assessment any forward-looking assertion, whether or not because of new info, future developments or in any other case. New dangers and uncertainties come up infrequently, and it’s not potential for us to foretell these occasions or how they could have an effect on us. As well as, Fairness can not assess the affect of every issue on Fairness’s enterprise or the extent to which any issue, or mixture of things, might trigger precise outcomes to vary materially from these contained in any forward-looking statements. All forward-looking statements, expressed or implied, included on this press launch are expressly certified of their entirety by this cautionary assertion. This cautionary assertion also needs to be thought-about in reference to any subsequent written or oral forward-looking statements that Fairness or individuals performing on Fairness’s behalf might challenge.

Annualized, professional forma, projected and estimated numbers are used for illustrative function solely, are usually not forecasts and should not mirror precise outcomes.

Vital Extra Info

This communication doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase any securities. Traders and safety holders are urged to rigorously assessment and contemplate Fairness’s public filings with the SEC, together with however not restricted to its Annual Report on Kind 10-Okay, its proxy assertion, its Present Stories on Kind 8-Okay and its Quarterly Stories on Kind 10-Q. The paperwork filed by Fairness with the SEC could also be obtained 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, when obtainable, might be obtained freed from cost from Fairness upon written request to Fairness Bancshares, Inc., Attn: Investor Relations, 7701 East Kellogg Drive, Suite 300, Wichita, Kansas 67207 or by calling (316) 612-6000.

Media Contact:

John J. Hanley
SVP, Director of Advertising and marketing
Fairness Bancshares, Inc.
(913) 583-8004
jhanley@equitybank.com

Investor Contact:

Chris Navratil
SVP, Finance
Fairness Bancshares, Inc.
(316) 612-6014
cnavratil@equitybank.com



Supply hyperlink