SCHEDULE: Fergeson Capital and Clint Fergeson Disclose 9.88% Stake in Equity Bancshares Following NBC Corp. Merger

Fergeson Capital LLC and its manager, Clint Kendric Fergeson, have reported beneficial ownership of 9.88% of Equity Bancshares, Inc.'s Class A Common Stock, acquired through the recent merger with NBC Corp. of Oklahoma.

Summary

• Fergeson Capital LLC and Clint Kendric Fergeson (as Manager of Fergeson Capital LLC) are the Reporting Persons.
• The Reporting Persons beneficially own 1,729,783 shares of Equity Bancshares, Inc.'s Class A Common Stock, representing 9.88% of the outstanding shares.
• The shares were acquired on July 2, 2025, as part of the merger transactions between Equity Bancshares, Inc. and NBC Corp. of Oklahoma.
• Each outstanding share of NBC's capital stock was converted into the right to receive 3.219 shares of Equity Bancshares' Class A Common Stock.
• No monetary consideration was used to acquire these shares; they were obtained in connection with the Reorganization Agreement.
• The purpose of the acquisition is for investment, aiming to profit from stock appreciation and potential dividends.
• Clint Kendric Fergeson is a retired banker and currently serves on the Board of Directors of Equity Bancshares, Inc.

Sentiment

Score: 7

Explanation: The filing indicates a significant, strategic investment by a related party (board member) following a merger, suggesting confidence in the Issuer's future. There are no stated negative intentions or risks from the reporting person.

Positives

• The acquisition of a significant stake (9.88%) by Fergeson Capital LLC, managed by a current board member, Clint Kendric Fergeson, signals a strong, long-term investment interest in Equity Bancshares, Inc.
• The shares were acquired as part of a strategic merger, indicating a structured and non-open market transaction.

Future Outlook

The Reporting Persons acquired the shares for investment purposes, intending to profit from market price appreciation and potential dividends. They currently have no plans or proposals for extraordinary corporate transactions, changes in the Issuer's board or management, capitalization, dividend policy, business structure, charter or bylaws, delisting, or termination of registration. Clint Kendric Fergeson intends to continue serving on the Issuer's Board of Directors.

Management Comments

• Shares of Class A Common Stock were acquired for investment purposes to profit from the appreciation in the market price of the Class A Common Stock and through the payment of dividends, if any.
• While Fergeson Capital LLC intends to exercise its rights as a stockholder of the Issuer, and while Mr. Fergeson intends to serve in his capacity as Manager of the Company and as a member of the Board of Directors of the Issuer, neither Reporting Person has any plans or proposals which relate to or would result in significant corporate changes.

Industry Context

This filing reflects a completed merger transaction within the banking sector, where Equity Bancshares, Inc. acquired NBC Corp. of Oklahoma. The resulting beneficial ownership by a significant investor, who is also a board member, is a common outcome of such consolidation activities, indicating integration and alignment of interests post-merger.

Legal Proceedings

• None of the Reporting Persons have been convicted in a criminal proceeding (excluding traffic conditions or similar misdemeanors) during the last five years.
• None of the Reporting Persons have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, nor subject to any judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws, during the last five years.

Related Party Transactions

• The acquisition of 1,729,783 shares of Class A Common Stock by Fergeson Capital LLC and Clint Kendric Fergeson (who is a board member of the Issuer) was a direct result of the merger between Equity Bancshares, Inc. and NBC Corp. of Oklahoma, where shares were received as consideration for NBC's capital stock.

Stakeholder Impact

• Shareholders of NBC Corp. of Oklahoma received shares of Equity Bancshares, Inc., becoming new shareholders in the combined entity.
• Existing shareholders of Equity Bancshares, Inc. now have a significant new beneficial owner, Fergeson Capital LLC, whose manager is also a board member, potentially aligning interests for long-term value creation.

Next Steps

• Fergeson Capital LLC intends to exercise its rights as a stockholder of Equity Bancshares, Inc.
• Clint Kendric Fergeson intends to continue serving as Manager of Fergeson Capital LLC and as a member of the Board of Directors of Equity Bancshares, Inc.

Key Dates

Keywords

Equity Bancshares, Fergeson Capital, Schedule 13D, beneficial ownership, merger, NBC Corp, Class A Common Stock, investment, financial services, banking, corporate governance