Equity Bancshares (EQBK): FJ Capital Management LLC, Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, and Martin Friedman filed Amendment No. 8 to Schedule 13G reporting beneficial ownership in EQBK common stock as of 09/30/2025. FJ Capital and Martin Friedman each report 1,222,791 shares, representing 6.36% of the class, with shared voting and dispositive power and no sole power.
Holdings include 963,361 shares by Financial Opportunity Fund LLC (5.01%) and 47,707 shares by Financial Opportunity Long/Short Fund LLC (0.25%), plus shares in managed accounts overseen by FJ Capital. The filers certify the securities were not acquired and are not held for the purpose of changing or influencing control.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 8)
Equity Bancshares Inc. (EQBK)
(Name of Issuer)
Common Stock
(Title of Class of Securities)
29460X109
(CUSIP Number)
09/30/2025
(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)
SCHEDULE 13G
CUSIP No.
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
1,222,791.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,222,791.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,222,791.00
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)
6.36 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: Relating to items 6 and 9 of this page: Consists of 963,361 shares of common stock of the Issuer held by Financial Opportunity Fund LLC and 47,707 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; 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 No.
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
963,361.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
963,361.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
963,361.00
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)
5.01 %
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 963,361 shares of common stock of the Issuer held by Financial Opportunity Fund LLC.
SCHEDULE 13G
CUSIP No.
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
47,707.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
47,707.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
47,707.00
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)
0.25 %
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 47,707 shares of common stock of the Issuer held by Financial Opportunity Long/Short Fund LLC.
SCHEDULE 13G
CUSIP No.
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
1,222,791.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,222,791.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,222,791.00
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)
6.36 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Relating to items 6 and 9 of this page: Consists of 963,361 shares of common stock of the Issuer held by Financial Opportunity Fund LLC and 47,707 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 - 1,222,791 shares
Financial Opportunity Fund LLC - 963,361 shares
Financial Opportunity Long/Short Fund LLC - 47,707 shares
Martin Friedman - 1,222,791 shares
(b)
Percent of class:
FJ Capital Management LLC - 6.36%
Financial Opportunity Fund LLC - 5.01%
Financial Opportunity Long/Short Fund LLC - 0.25%
Martin Friedman - 6.36%
(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 - 1,222,791 shares
Financial Opportunity Fund LLC - 963,361 shares
Financial Opportunity Long/Short Fund LLC - 47,707 shares
Martin Friedman - 1,222,791 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 - 1,222,791 shares
Financial Opportunity Fund LLC - 963,361 shares
Financial Opportunity Long/Short Fund LLC - 47,707 shares
Martin Friedman - 1,222,791 shares
Item 5.
Ownership of 5 Percent or Less of a Class.
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
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.
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