Schiff Advises First Mid Bancshares on Pending Acquisitions of Delta Bancshares Company, St. Louis-Based Loan and Deposit Portfolio

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Schiff Advises First Mid Bancshares on Pending Acquisitions of Delta Bancshares Company, St. Louis-Based Loan and Deposit Portfolio

News Release |

Schiff Hardin LLP is advising First Mid Bancshares, Inc. on two separate recently announced transactions. First Mid will acquire Delta Bancshares Company and also a loan and deposit portfolio, along with the relationship team, in the St. Louis market.

Based on First Mid’s price per share at the closing on July 28, 2021, the aggregate consideration to be paid by First Mid is approximately $106.3 million for the Delta transaction.

In addition, First Mid has agreed to acquire approximately $225 million in loans and $280 million in deposits from a separate financial institution in the St. Louis market. The acquisition will include four commercial lenders who have the primary relationships with the acquired customers and two support personnel.