First Mid Bancshares, Inc. | Stephens

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Financial Advisor and Fairness Opinion

First Mid Bancshares, Inc.

$106 Million 07/29/2021 Depository Complete
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Transaction Details

  • On July 29, 2021, First Mid Bancshares, Inc. (“First Mid”) announced that it has entered into a definitive agreement to acquire Delta Bancshares Company, the holding company of Jefferson Bank and Trust Company (collectively “Delta”)
  • Delta is a private company with a 129-year history of providing financial services to the St. Louis market
  • Under the terms of the agreement, Delta shareholders and option holders will receive approximately $15.2 million in cash and 2,282,512 shares of First Mid stock
  • The transaction with Delta has been unanimously approved by both Delta’s and First Mid’s Boards of Directors and is expected to close in the fourth quarter of 2021, subject to regulatory approvals and the satisfaction of customary closing conditions

About the company

First Mid Bancshares, Inc.
First Mid Bancshares, Inc. (“First Mid”) is the parent company of First Mid Bank & Trust, N.A., First Mid Insurance Group, Inc. and First Mid Wealth Management Co. First Mid is a $5.8 billion community-focused organization that provides a full-suite of financial services including banking, wealth management, brokerage, Ag services, and insurance through a sizeable network of locations throughout Illinois, Missouri and Texas, and a loan production office in the greater Indianapolis area. Together, our First Mid team takes great pride in their work and their ability to serve our customers well over the last 156 years. More information about the Company is available on our website at

Delta Bancshares
Delta Bancshares Company (“Delta”) is the parent company of Jefferson Bank and Trust. Delta is a $697 million asset financial institution focused on providing quality, consistent customer service with complete customer satisfaction to small and mid-sized businesses in the St. Louis market. Its mission is to advance economic prosperity in the St. Louis area through prudent lending and banking services.

Sources: Company Documents, S&P Global Market Intelligence and publicly available information
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