First Mid Bancshares Acquires Delta Bancshares and St. Louis Loan & Deposit Portfolio
July 29, 2021
First Mid Bancshares, Inc. (NASDAQ: FMBH) agreed to acquire Delta Bancshares Company, the parent of Jefferson Bank and Trust, in a transaction valued at approximately $106.3 million in aggregate consideration (cash and stock). In a separate agreement, First Mid also agreed to acquire approximately $225 million in loans and $280 million in deposits plus the relationship team from a separate St. Louis-area financial institution, expanding First Mid's presence in the St. Louis market.
- Buyers
- First Mid Bancshares, Inc.
- Targets
- Delta Bancshares Company (parent of Jefferson Bank and Trust), Loan and deposit portfolio and relationship team from a separate financial institution (St. Louis market)
- Sellers
- Delta shareholders and option holders, a separate financial institution in the St. Louis market
- Industry
- Financial Services
- Location
- Missouri, United States
- Transaction Type
- Buyout
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