First Mid completes acquisition of First BancTrust Corp.
First Mid-Illinois Bancshares Inc., which has several locations in Metro East, today completed the acquisition of First BancTrust Corp.
The acquisition represents approximately $479 million in total assets, $392 million in deposits and $370 million in loans through seven full-service banking centers in Illinois, operating as First Bank & Trust.
There are no immediate changes for First Bank customers. The conversion of accounts from First Bank to First Mid is expected to happen later this year. Customers will receive information well in advance of any changes that may affect them.
“We are very excited to expand our presence in the attractive and growing Champaign-Urbana region and to extend our footprint in the adjacent counties to the east of our headquarters,” said Joe Dively, First Mid chairman and chief executive officer. “We look forward to maintaining strong relationships and involvement in these communities and the opportunity to bring expanded services to our First Bank customers.”
First Bank has banking centers in Champaign, Marshall, Martinsville, Paris, Rantoul and Savoy
With the completion of this acquisition, First Mid has approximately $3.3 billion in total assets. In addition, First Mid operates a trust and wealth management business with approximately $1.5 billion in assets under management and an insurance business with $3.9 million in annual revenue. First Bank represents the fourth acquisition by First Mid over the last three years, including three banking institutions and one insurance agency.
About First Mid-Illinois Bancshares
First Mid-Illinois Bancshares, Inc. which is based in Mattoon, Ill., is the parent company of First Mid-Illinois Bank & Trust, N.A., Mid-Illinois Data Services, Inc., and First Mid Insurance Group. First Mid-Illinois Bancshares is a $3.3 billion organization that provides financial services through a network of 59 banking centers in 42 Illinois and Missouri communities and a loan production office in Indiana.
