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AI brief of an SEC Form 8-K · FIRST MID BANCSHARES, INC. (FMBH)

First Mid to acquire Evergreen Bancshares for about $70.7 million in stock and cash

Neutral Impact 5 of 5 m&a Written later

First Mid Bancshares agreed on October 28, 2026 to acquire Evergreen Bancshares, parent of American Bank of Freedom, for 0.4081 First Mid shares plus $5.20 in cash per Evergreen share, about $70.7 million in aggregate based on First Mid's October 27 closing price of $51.01. The deal is expected to close in the first quarter of 2027, subject to regulatory and Evergreen shareholder approvals, and First Mid estimates about 5% EPS accretion in 2028 and tangible book value dilution of about 0.5%. Shareholders should note that the company expects to cross $10 billion in assets as a result of the transaction and that the filing says the figures are illustrative and may change.

Key points

  • Consideration: 0.4081 First Mid shares plus $5.20 cash per Evergreen share; about 1,109,690 First Mid shares and $14.1 million in cash in total, roughly 80% stock and 20% cash
  • Target: American Bank of Freedom had about $932 million in assets, $712 million in loans and $727 million in deposits as of September 30, 2026, with 10 banking centers
  • Timing: closing expected in the first quarter of 2027; bank merger and systems conversion expected in the second quarter of 2027
  • Pro forma estimates: about 5.0% EPS accretion in 2028, tangible book value dilution of about 0.5%, earnback of about 0.5 years, and about $13.8 million in pre-tax transaction costs

The filing

CompanyFIRST MID BANCSHARES, INC. (FMBH)
Form8-K, current report
Filed with the SECOct 29, 2026, 7:00 AM ET
Accession number0001171843-26-006953

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 29, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.