First Mid Bancshares to acquire Evergreen Bancshares for $70.7 million
FMBH•First Mid Bancshares will acquire Evergreen Bancshares in a transaction valued at approximately $70.7 million. The deal is projected to increase 2028 earnings per share by approximately 5%, including the modeled Durbin impact.
1. Deal terms
Evergreen shareholders will receive 0.4081 First Mid shares and $5.20 in cash for each share held. Closing is targeted for the first quarter of 2027, subject to regulatory and Evergreen shareholder approvals.
2. Expansion and earnings
The acquisition will expand First Mid's St. Louis presence and add a full-service branch in the Indianapolis area. It is projected to increase 2028 earnings per share by approximately 5%, including the modeled Durbin impact.
