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First Mid-Illinois Bancshares seeks to increase shares to 30 million

The board of First Mid-Illinois Bancshares Inc. is seeking shareholders' approval to increase the number of the company's authorized common shares to 30 million from 18 million.

The Mattoon, Ill.-based company said that the additional shares will help maintain its financing and capital-raising flexibility.

Should shareholders approve the proposal, it will become effective upon filing of a certificate of amendment with the Delaware secretary of state.