First Mid - M&A Summary and Business Overview

Financial ServicesCompany

First Mid M&A Summary

First Mid has acquired 6 companies, including 3 in the last 5 years.

First Mid’s largest acquisition to date was in 2021, when it acquired Delta Bancshares for $106M. First Mid has acquired in 4 different US states. The Company’s most targeted sectors include financial services (84%) and insurance (17%).

First Mid Business Overview

Where is First Mid headquartered?

First Mid is headquartered in Mattoon, Illinois.

What is First Mid’s revenue?

First Mid disclosed revenue of 275M USD for 2023 and 255M USD for 2022.

How many employees does First Mid have?

First Mid has 1,188 employees.

What sector is First Mid in?

First Mid is a financial services company.

When was First Mid founded?

First Mid was founded in 1865.

M&A Summary

M&A Total Activity6
- M&A Buy Activity6
Total Sectors Invested 2
Total Countries Invested 1
M&A Buy/Sell Connections 1
M&A Advisors 4

First Mid

First Mid Bancshares, Inc.

1421 Charleston Avenue,
Mattoon, Illinois 61938
United States,
(217) 234-7454
www.firstmid.com

First Mid provides financial services including banking, insurance, wealth management, brokerage, and ag services through a network of locations in Illinois, Missouri, Texas, and Wisconsin, and a loan production office in Indiana. First Mid was founded in 1981 and is based in Mattoon, Illinois.

M&A Summary

Buy vs Sell

Year		≤ '19	'20	'21	'22	'23	'24	T
Buy (0.4/yr)	#	4	-	1	-	1	-	6
Buy (0.4/yr)	vol	$90M		$106M		$90M		$287M
Sell (0.0/yr)	#	-	-	-	-	-	-	0
								6

Most Recent M&A

Company	Date	Value	Type
Blackhawk Bancorp, Inc.	2023-03-21	90M USD	Add-on Acquisition
Beloit, Wisconsin · www.blackhawkbank.com
Delta Bancshares Co.	2021-07-29	106M USD	Add-on Acquisition
Saint Louis, Missouri
Gentry-Couch, Inc.	2019-11-21	-	Add-on Acquisition
Carterville, Illinois · www.gentrycouch.com
SCB Bancorp, Inc.	2018-06-12	-	Divestiture
East Lansing, Michigan · www.summitcommunitybank.com
First BancTrust Corp.	2017-12-11	-	Add-on Acquisition
Paris, Illinois · www.firstbanktrust.com
First Clover Leaf Financial Corp.	2016-04-26	90M USD	Add-on Acquisition
Edwardsville, Illinois · www.firstcloverleafbank.com
View All >>

M&A by Sector

Sector	Buy #	Value	Sell #	Value
Financial Services	5 (83%)	287M (100%)	-	-
Insurance	1 (17%)	-	-	-
Total	6	$287M	-	-

By Geo

State/Country		Buy	Value	Sell	Value
United States		6	287M	-	-
	Illinois	3	90M	-	-
	Wisconsin	1	90M	-	-
	Missouri	1	106M	-	-
	Michigan	1	-	-	-
Total		6	$287M	-	-

Top M&A Advisors

Financial	Deals
FIG Partners LLC	3
Janney Montgomery Scott LLC	1

Legal	Deals
Schiff Hardin LLP	4
ArentFox Schiff	1

Deal Values

buy	#	Total
$100M to $1B	1	$106M
< $100M	2	$180M
TOTAL		$287M
Largest	Delta Bancshares Co. $106M (2021-07-29)

M&A Connections

		Deals
Acquired from
Strategic(s)	17%	1 (17%)

Company Summary

SECTOR

Financial Services

Revenue

275 8%	2023
255 9%	2022
234 27%	2021
185 4%	2020
178 24%	2019
144 18%	2018
123 26%	2017
98	2016
(millions of USD)	Show More Show Less

Employees

1,188

Established

1865

Public

NASDAQ: FMBH

Former Name

First Mid-Illinois Bancshares, Inc.

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First Mid - M&A Summary and Business Overview

Financial ServicesCompany