First Mid-Illinois Bancshares in Mattoon has agreed to buy First Clover Leaf Financial in Edwardsville, Ill.
The $2.1 billion-asset First Mid-Illinois said in a press release Tuesday that it will pay about $90 million, or $12.87 a share, in cash and stock for the $654 million-asset First Clover.
The deal is expected to close in the fourth quarter.
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First Mid-Illinois Bancshares in Mattoon plans to sell about $29.3 million in common stock in a private placement.
June 18 -
First Mid-Illinois Bancshares (FMBH) in Mattoon, Ill., has received approval from the Nasdaq Stock Market to list its common stock on the Nasdaq Global Market.
May 5 -
First Mid-Illinois Bancshares (FMBH) in Mattoon has promoted the president of its bank to replace its retiring chairman and chief executive.
October 24
Raymond James and Barack Ferrazzano Kirschbaum & Nagelberg advised First Clover. FIG Partners and Schiff Hardin advised First Mid-Illinois.
