FIG Has Now Completed 93 M&A Transactions Totaling More Than
$4.2 Billion In Transaction Value To Date
ATLANTA, December 12, 2017 — First Mid-Illinois Bancshares, Inc. (NASDAQ:FMBH) has announced a definitive agreement to acquire all of the outstanding shares of First BancTrust Corporation (OTCQX:FIRT), the holding company for First Bank & Trust.
First Bank shareholders will receive 0.80 shares of FMBH common stock and $5.00 in cash for each share of FIRT common stock. Based upon First Mid’s closing price of $38.67 on December 8, 2017, the aggregate transaction value is approximately $73.8 million.
First Bank is a $466 million asset financial services holding company headquartered in Champaign, IL. As of September 30, 2017, First Bank had total deposits and loans of approximately $378 million and $368 million, respectively. Matthew Carr, President of First Bank, will join First Mid in a leadership role after the transaction closed.
“The acquisition of First Bank deepens our presence in the attractive Champaign-Urbana market and provides expanded opportunities in adjacent counties,” said Joe Dively, Chairman and Chief Executive Officer of First Mid. “First Bank has a long history of providing excellent service with a community-minded focus. The merged organizations will be even stronger. Finally, I am very excited to have Matt Carr join our organization, with an expanded role while continuing to lead First Bank’s markets.”
The FIG team included Matthew Veneri, Managing Principal and Co-Head of Investment Banking, and Jason Werner, Vice President.
More information is available here.
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