FJ Capital reports 921,074 shares (4.39%) of Equity Bancshares

Rhea-AI Filing Summary

Equity Bancshares Inc. ownership disclosure: an amendment to a Schedule 13G/A reports that FJ Capital Management LLC and affiliated entities collectively have shared voting and dispositive power over 921,074 shares of common stock, representing 4.39% of the class. The filing breaks the position down into Financial Opportunity Fund LLC (906,969 shares, 4.32%) and Financial Opportunity Long/Short Fund LLC (2,827 shares, 0.01%), and states shared control and a disclaimer of beneficial ownership by the reporting manager. The disclosure lists addresses, CUSIP 29460X109, and is signed by Martin Friedman as Managing Member.

Insights

Governance Analyst

Disclosure shows a sub-5% passive/managed stake with shared control.

The filing reports shared voting and dispositive power for 921,074 shares (4.39%), led by Financial Opportunity Fund LLC's 906,969 shares (4.32%). The manager disclaims beneficial ownership while identifying the managing member.

Key governance implications: this is a routine Section 13 disclosure of an investment manager’s holdings; any voting coordination or material change would require further filings.

Compliance Specialist

Amendment clarifies holder identities, powers, and disclaimers.

The form lists precise share counts, shared voting/dispositive power, and the reporting persons' addresses. The repeated disclaimer language indicates the manager asserts limited direct beneficial ownership despite managerial roles.

Monitor future Schedule 13 filings for ownership or intent changes that exceed reporting thresholds; current disclosure remains routine.

Key Figures

FJ Capital shared position: 921,074 shares FJ Capital percent: 4.39% Financial Opportunity Fund holdings: 906,969 shares +3 more

6 metrics

FJ Capital shared position 921,074 shares Amount beneficially owned / shared voting and dispositive power

FJ Capital percent 4.39% Percent of class for FJ Capital Management LLC

Financial Opportunity Fund holdings 906,969 shares Amount beneficially owned by Financial Opportunity Fund LLC

Financial Opportunity Fund percent 4.32% Percent of class for Financial Opportunity Fund LLC

Financial Opportunity Long/Short Fund holdings 2,827 shares Amount beneficially owned by Financial Opportunity Long/Short Fund LLC

CUSIP 29460X109 Identifier for Equity Bancshares common stock

Key Terms

Schedule 13G/A, beneficial owner, shared dispositive power, disclaims beneficial ownership

4 terms

Schedule 13G/A regulatory

"An amendment to a Schedule 13G/A reports that FJ Capital Management LLC"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

beneficial owner financial

"Consists of 906,969 shares of common stock of the Issuer held by Financial Opportunity Fund LLC"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared dispositive power regulatory

"Shared Dispositive Power 921,074.00"

disclaims beneficial ownership legal

"the Reporting Person disclaims beneficial ownership"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the EQBK Schedule 13G/A amendment disclose about FJ Capital's position?

It discloses that FJ Capital Management LLC has shared voting and dispositive power over 921,074 shares of EQBK, equal to 4.39% of the class. The filing itemizes affiliated holders and includes the managing member's signature.

How many EQBK shares does Financial Opportunity Fund LLC hold, per the filing?

The filing states Financial Opportunity Fund LLC holds 906,969 shares of EQBK common stock, representing 4.32% of the class. That count is listed under amount beneficially owned and shared voting/dispositive power.

Does the Schedule 13G/A indicate sole control over the reported EQBK shares?

No. The form reports 0 shares of sole voting or dispositive power and identifies shared voting and dispositive power over the reported 921,074 shares, indicating collective control rather than sole control.

What is the meaning of the disclaimer in the EQBK filing signed by Martin Friedman?

The disclaimer states that while Martin Friedman is managing member of the reporting entities, he disclaims beneficial ownership of the reported shares; the form still attributes shared voting/dispositive power to the named entities and manager.

What CUSIP and class are covered in the EQBK amendment?

The Schedule 13G/A covers EQBK Common Stock with CUSIP 29460X109. The filing identifies the security class and reports ownership percentages for the named reporting persons.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/29/2026 - 12:58 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 10)

Equity Bancshares Inc. (EQBK)

(Name of Issuer)

Common Stock

(Title of Class of Securities)

29460X109

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 29460X109

1

Names of Reporting Persons

FJ Capital Management LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 921,074.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 921,074.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

921,074.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.39 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: Relating to items 6, 8 and 9 of this page: Consists of 906,969 shares of common stock of the Issuer held by Financial Opportunity Fund LLC and 2,827 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.

SCHEDULE 13G

CUSIP Number(s): 29460X109

1

Names of Reporting Persons

Financial Opportunity Fund LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 906,969.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 906,969.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

906,969.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.32 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Relating to items 6, 8 and 9 of this page: Consists of 906,969 shares of common stock of the Issuer held by Financial Opportunity Fund LLC.

SCHEDULE 13G

CUSIP Number(s): 29460X109

1

Names of Reporting Persons

Financial Opportunity Long/Short Fund LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,827.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,827.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,827.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.01 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Relating to items 6, 8 and 9 of this page: Consists of 2,827 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC.

SCHEDULE 13G

CUSIP Number(s): 29460X109

1

Names of Reporting Persons

Martin Friedman

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 921,074.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 921,074.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

921,074.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.39 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Relating to items 6, 8 and 9 of this page: Consists of 909,969 shares of common stock of the Issuer held by Financial Opportunity Fund LLC and 2,827 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC, of which FJ Capital Management LLC is the managing member, and 211,723 shares of common stock of the Issuer held by managed accounts that FJ Capital Management LLC manages. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Equity Bancshares Inc. (EQBK)
(b)	Address of issuer's principal executive offices: 7701 East Kellogg Drive, suite 300, Wichita, KS 67207
Item 2.
(a)	Name of person filing: This Schedule 13G is being filed on behalf of the following Reporting Persons: FJ Capital Management LLC Financial Opportunity Fund LLC Financial Opportunity Long/Short Fund LLC Martin Friedman
(b)	Address or principal business office or, if none, residence: FJ Capital Management LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Financial Opportunity Long/Short Fund LLC 7901 Jones Branch Drive, Suite 210 McLean, VA 22102 Martin Friedman 7901 Jones Branch Drive, Suite 210 McLean, VA 22102
(c)	Citizenship: Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, and FJ Capital Management LLC - Delaware limited liability companies Martin Friedman - United States citizen
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 29460X109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: FJ Capital Management LLC - 921,074 shares Financial Opportunity Fund LLC - 906,969 shares Financial Opportunity Long/Short Fund LLC - 2,827shares Martin Friedman - 921,074 shares
(b)	Percent of class: FJ Capital Management LLC - 4.39% Financial Opportunity Fund LLC - 4.32% Financial Opportunity Long/Short Fund LLC - 0.01% Martin Friedman - 4.39%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: FJ Capital Management LLC - 921,074 shares Financial Opportunity Fund LLC - 906,969 shares Financial Opportunity Long/Short Fund LLC - 2,827shares Martin Friedman - 921,074 shares
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: FJ Capital Management LLC - 921,074 shares Financial Opportunity Fund LLC - 906,969 shares Financial Opportunity Long/Short Fund LLC - 2,827shares Martin Friedman - 921,074 shares
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

FJ Capital Management LLC

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	04/21/2026

Financial Opportunity Fund LLC

Signature:	FJ Capital Management LLC
Name/Title:	its Managing Member
Date:	04/21/2026

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	04/21/2026

Financial Opportunity Long/Short Fund LLC

Signature:	FJ Capital Management LLC
Name/Title:	its Managing Member
Date:	04/21/2026

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	04/21/2026

Martin Friedman

Signature:	Martin Friedman
Name/Title:	Managing Member
Date:	04/21/2026