First Mid Insurance Group (FMIG), a leading provider of insurance solutions, has announced its successful acquisition of Purdum-Gray-Ingledue-Beck (PGIB) Insurance and Investments Agency, a prominent insurance agency known for its exceptional client service and comprehensive coverage solutions. The acquisition aligns with First Mid Insurance Group’s commitment to expanding its market presence and increasing industry niche expertise.
“We are excited to welcome the entire PGIB team to First Mid,” said Clay Dean, CEO of First Mid Insurance Group. “Like us, PGIB has a customer and community first culture. The team of more than a dozen insurance sales and risk management experts have built a reputation for extraordinary service and a deep understanding of the insurance landscape, making them a fantastic addition to our organization. This acquisition positions us to serve a wider range of clients and in verticals such as healthcare and hospitality, and further strengthens our capabilities to meet all our customers’ needs.”
Ingledue and Beck echoed this sentiment, “We are excited to be joining the First Mid team. Clients of PGIB will gain access to an expanded range of insurance and financial solutions, tailored to their unique requirements, while continuing to receive the outstanding support they have come to expect.”
The combined company brings together a team of experts across multiple insurance lines including personal, commercial, farm, hospitality, healthcare, social services, and retirement services. The team has extensive expertise in each of these sectors, allowing FMIG to deliver high-quality coverage that is personalized to each client.
Both companies have a profound commitment to their communities, as well as deep roots in Illinois. First Mid Bancshares, Inc., parent company of FMIG, was founded in Mattoon, Ill., in 1865, while PGIB was founded in Macomb, Ill., in 1926.
Joe Dively, chairman and CEO of First Mid Bancshares, Inc., said, “We’re committed to increasing the value of our relationships with customers by broadening access to our full suite of financial products and services. The PGIB acquisition will bring new relationships to both the agency and the bank since PGIB has customers throughout the Midwest. Furthermore, our dedication to enhancing shareholder value remains unwavering as we pursue growth opportunities through the strategic acquisition of esteemed partners such as PGIB and Blackhawk Bancorp, Inc. Earlier this year, we declared our intent to acquire Blackhawk, a $1.32 billion company. By incorporating PGIB into our operations, we aim to bolster our recent expansion efforts in northern Illinois and Wisconsin, in tandem with the impending Blackhawk acquisition.”
About First Mid Insurance Group:
First Mid Insurance Group has been committed to helping customers with risk management solutions for over 115 years and is the largest multi-line bank-owned insurance broker in Illinois with locations in nine communities in Illinois and Missouri. The team of over 80 risk management professionals collaborates to make an impact in tailored insurance and benefits solutions for over 15,000 commercial and retail clients. For more information, visit firstmidinsurance.com.
About First Mid Bancshares, Inc.:
First Mid Bancshares, Inc. is the parent company of First Mid Bank & Trust, N.A., First Mid Insurance Group, and First Mid Wealth Management Company. First Mid is a $6.7 billion community-focused organization that provides a full-suite of financial services including banking, wealth management, brokerage, Ag services, and insurance through a sizeable network of locations throughout Illinois, Missouri, and Texas, and a loan production office in the greater Indianapolis area. Together, the First Mid team takes great pride in providing solutions and services to its customers and communities and has done so over the last 158 years. More information about the Company is available on their website at firstmid.com.