filecrux
Oct 29, 2:36 PM
$FMBH Will First Mid's 5% EPS boost from Evergreen hold up once the
$10B debit-fee cap fully bites after 2028?
🤝 First Mid Bancshares, a
$9.4 billion Illinois community bank, agreed to buy Evergreen Bancshares, parent of
$932 million-asset American Bank of Freedom, for about
$70.7 million, roughly 5% of its
$1.34 billion market value at the
$50.52 close at 16:00 ET on October 28, 2026
📈 For about 1,109,690 new shares and
$14.1 million in cash, the model lifts 2028 EPS to
$5.54 from
$5.27 standalone after a
$2.9 million Durbin interchange hit, paying 1.10x tangible book for about 0.5% book-value dilution earned back in about half a year
📅 Next: Closing is expected in the first quarter of 2027, pending regulators and Evergreen's shareholder vote, with the bank merger and systems conversion in the second quarter of 2027
Source: GlobeNewswire release + SEC 8-K, Oct 29
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