MATTOON, Ill., Feb. 14 12, 2022 (GLOBE NEWSWIRE) — First Mid Bancshares, Inc. (NASDAQ: FMBH) (“First Mid” or the “Company”) announced today that the acquisition of Delta Bancshares Company (“Delta”), which includes Jefferson Bank and Trust (“Jefferson”), has been finalized.
As of December 31, 2021, Delta had approximately $718 million in total assets, $560 million in deposits, and $424 million in loans through 5 locations in the St. Louis metro area. With the completion of this acquisition, First Mid has approximately $6.7 billion in total assets.
There are no immediate changes for Jefferson customers. The conversion of Jefferson Bank and Trust accounts is expected to take place in June of this year. Customers will be notified well in advance of any changes that may affect them.
“We are excited to expand our presence in the St. Louis market and welcome Jefferson customers and employees to First Mid. The expanded banking network and enhanced products and services, including mortgage banking, wealth management and insurance, will provide Jefferson’s customers and communities with additional benefits,” said Joe Dively, President and Chief Executive Officer. by First Mid.
About First Mid Bancshares, Inc.: First Mid Bancshares, Inc. is the parent company of First Mid Bank & Trust, NA, Jefferson Bank and Trust, First Mid Insurance Group and First Mid Wealth Management Company. First Mid is a $6.7 billion community-based organization that provides a full range of financial services including banking, wealth management, brokerage, agricultural services and insurance through an extensive network of locations around the world. ‘Illinois, Missouri, and Texas, and a loan production. office in the greater Indianapolis area. Together, our First Mid team takes great pride in providing solutions and services to customers and communities for 157 years. Further information about the company is available on our website at www.firstmid.com.
Looking to the future Declarations: This document may contain certain forward-looking statements regarding First Mid, such as discussions of First Mid’s pricing and fee trends, credit quality and outlook, liquidity, new business results, expansion plans, anticipated expenditures, anticipated timelines and impacts of COVID-19. First Mid intends that these forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1955. Forward-looking statements, which are based on certain assumptions and describe plans, strategies and expectations of First Mid, are identified by the use of the words “believe”, “expect”, “intend”, “anticipate”, “estimate”, “project” or similar expressions. Actual results could differ materially from the results indicated by these statements because the achievement of these results is subject to numerous risks and uncertainties, including, among others, changes in interest rates; general economic conditions and those of the First Mid market areas; legislative/regulatory changes; US government monetary and fiscal policies, including US Treasury and Federal Reserve Board policies; the quality or composition of First Mid’s loan or investment portfolios and the valuation of such investment portfolios; application for loan products; deposit flows; competition, demand for financial services in the First Mid market areas; accounting principles, policies and guidelines; the severity, extent and duration of the COVID-19 pandemic; the direct and indirect impact of such a pandemic, including government, business and consumer responses to the pandemic, on First Mid’s operations and personnel, business activity and demand overall the businesses of First Mid and customers’ businesses; disruption to the global, national, state and local economies associated with the COVID-19 pandemic, which could affect First Mid’s liquidity and capital positions, adversely affect the ability of First Mid’s borrowers to repay outstanding loans, alter collateral values and further increase the provision for credit losses; and the impact of the COVID-19 pandemic on First Mid’s financial results, including possible loss of revenue and increased expenses (including the cost of capital), as well as possible goodwill impairment charges . Additional information regarding First Mid, including additional factors and risks that could materially affect First Mid’s financial results, is included in First Mid’s filings with the Securities and Exchange Commission (the “SEC”), including its annual reports on Form 10-K. Forward-looking statements speak only as of the date they are made. Except as required by federal securities laws or SEC rules and regulations, we undertake no obligation to update or review any forward-looking information, whether as a result of new information, future events or otherwise.
Investor Relations Director