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Equity completes Signature Bank merger

A merger announced in July between Andover-based Equity Bank and Haddam-based Signature Bank has been completed.

According to a news release from Equity, the merger was approved by regulators late last week and the deal was closed on Monday.

Equity is the succeeding institution and now has 15 branches and $619 million in assets.

Both banks were owned by Equity Bancshares, a Wichita-based bank holding company.

Signature originally was one of three branches of the former Signature Bank KC.

Equity Bancshares picked up the branches from its 2007 acquisition of Signature Bancshares, merged two of them into Equity Bank and made the Haddam location a standalone bank.

When the merger was first announced more than two months ago, Signature Bank had $5.6 million in assets.

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