First Mid Bancshares in Mattoon, Illinois, has agreed to buy Evergreen Bancshares in Wellsville, Missouri. The $9.4 billion-asset First Mid said in a press release that it will pay $70.7 million in cash and stock for the parent of the $932 million-asset American Bank of Freedom. The deal, which is expected to close in the first quarter, priced Evergreen at 110% of its tangible book value.
First Community Bankshares in Bluefield, Virginia, has agreed to buy Main Street Financial Services in Wooster, Ohio. The $3.6 billion-asset First Community said in a press release that it will pay $243 million in stock for the $1.6 billion-asset Main Street. The deal, which is expected to close in the second quarter, priced Main Street at 190% of its tangible book value.
Texas Community Bancshares in Mineola has agreed to buy the Banc of San Jacinto County Bancshares in Coldspring, Texas. The holding company for the $442.8 million-asset Broadstreet Bank said in a press release that it will pay $9.5 million in cash for the parent of the $42 million-asset SJCB Bank. The deal is expected to close in the first quarter.
M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.
