Business
First Mid Bancshares, Inc. Completes Acquisition of Blackhawk Bancorp, Inc.
MATTOON, Ill., Aug. 15, 2023 (GLOBE NEWSWIRE) -- First Mid Bancshares, Inc. (NASDAQ: FMBH) (“First Mid” or the “Company”) announced today that the acquisition
About this update from First Mid Bancshares, Inc.
[{"type":"text","content":"MATTOON, Ill., Aug. 15, 2023 (GLOBE NEWSWIRE) -- First Mid Bancshares, Inc. (NASDAQ: FMBH) (“First Mid” or the “Company”) announced today that the acquisition of Blackhawk Bancorp, Inc. (“Blackhawk”) has been completed. As of June 30, 2023, Blackhawk had approximately $1.3 billion in total assets, $1.2 billion in deposits and $784 million in loans through 10 locations in Illinois and Wisconsin. With the completion of this acquisition, First Mid has approximately $8.0 billion in total assets. There are no immediate changes for Blackhawk customers. The conversion of accounts from Blackhawk is expected to happen in December of this year. Customers will receive information well in advance of any changes that may affect them. “We welcome Blackhawk’s customers and employees to First Mid and are excited to provide expanded services to the strong relationships Blackhawk has built,” said Joe Dively, First Mid Chairman and Chief Executive Officer. “We have worked closely with the Blackhawk team over the last few months to ensure a smooth transition.” In conjunction with the closing today, Todd James has resigned his position as CEO of Blackhawk and joined the First Mid Board of Directors. “We are excited to have Todd join our Board. He will provide a strong voice for our expanded footprint and valuable insight for our Board,” Dively concluded. About First Mid Bancshares, Inc.: First Mid Bancshares, Inc. is the parent company of First Mid Bank & Trust, N.A., Blackhawk Bank, First Mid Insurance Group and First Mid Wealth Management Company. First Mid has grown into an $8.0 billion community-focused organization that provides financial services through a network of banking centers in Illinois, Missouri, Texas, and Wisconsin, and a loan production office in Indiana. More information about the Company is available on our website at www.firstmid.com. Our stock is traded in The NASDAQ Stock Market LLC under the ticker symbol “FMBH”. Forward Looking Statements: This document may contain certain forward-looking statements about First Mid and Blackhawk, such as discussions of First Mid’s and Blackhawk’s pricing and fee trends, credit quality and outlook, liquidity, new business results, expansion plans, anticipated expenses and planned schedules. First Mid intends such forward-looking statements to be covered by the safe harbor provisions for forwa...