First Mid-Illinois Bancshare, Inc. has announced the pricing of a public offering of 947,368 shares of First Mid’s common stock at a price of $38.00 per share for anticipated gross proceeds of approximately $36 million. First Mid intends to use the proceeds from the offering for general corporate purposes, including additions to working capital and to support organic growth or possible additional acquisitions of other financial institutions, including with its previously proposed acquisition of SCB Bancorp, Inc., if it is completed.
D.A. Davidson has served as a co-manager for the stock offering.
Full details about the offering can be found here.