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First Mid-Illinois Bancshares Inc. in Mattoon is raising capital through a private placement to be opportunistic. The $1.5 billion-asset company said Friday that it had subscriptions for $27.5 million of convertible preferred stock from investors, directors, executives, major customers and existing shareholders.
February 14 -
With a compelling need for capital and the usual open-market routes to it in gridlock, a growing number of firms are turning to insiders for fresh funds.
February 4
First Mid-Illinois Bancshares (FMBH) in Mattoon has promoted the president of its bank to replace its retiring chairman and chief executive.
Joseph Dively was also become the $1.5 billion-asset company's president. Dively, 54, will succeed William Rowland, who will retire on Dec. 31 after 25 years of service at the company.
Dively is a senior executive vice president at the company and president of First Mid-Illinois Bank & Trust. He will remain the banks president, the company
Rowland, 66, will remain on the board of the company and each of its three units First Mid-Illinois Bank, Mid-Illinois Data Services, and First Mid Insurance Group following his retirement.
"I have thoroughly enjoyed my nearly 25 years of service to First Mid and look forward to continued service as a director," Rowland
"I am excited to take on this new role and to continue forward with First Mid's 148-year-old tradition of growth, profitability, and commitment to the communities we serve," Dively said.
First Mid-Illinois has 36 branches in Illinois, according to the Federal Deposit Insurance Corp.
