trending Market Intelligence /marketintelligence/en/news-insights/trending/s78fgi1msp50e-qai_ha0w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

First Mid-Illinois Bancshares prices common offering at $38 per share

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


First Mid-Illinois Bancshares prices common offering at $38 per share

First Mid-Illinois Bancshares Inc. priced an underwritten public offering of 947,368 common shares at $38 each for gross proceeds of about $36 million.

The shares priced include the underwriters' option to purchase up to 15% more of the Mattoon, Ill.-based company's shares.

Net proceeds are expected to total about $34 million.

The company plans to use the proceeds for general corporate purposes, including additions to working capital, support of organic growth and financing of potential future acquisitions, including its just-announced planned acquisition of SCB Bancorp Inc., if it is completed.

The offering, which is subject to customary closing conditions, is expected to close on or about June 15.

FIG Partners LLC is acting as sole book-running manager for the offering, with Sandler O'Neill & Partners LP and D.A. Davidson & Co. as co-managers.