First Mid Bancshares’ Acquisition Of LINCO Bancshares

Schiff Hardin LLP advised First Mid Bancshares, Inc. on the deal. Stinson LLP serves as legal counsel to LINCO Bancshares, Inc. on the deal.

First Mid Bancshares, Inc. announced its pending acquisition of LINCO Bancshares, Inc. for an aggregate purchase price of approximately $144.9 million. LINCO is the holding company for Providence Bank, which holds approximately $1.2 billion in assets. The deal is expected to close in the first quarter of 2021.

First Mid Bancshares, Inc. is the holding company for First Mid-Illinois Bank & Trust, N.A. The Bank attracts deposits from the general public and originates a variety of loans. First Mid Bancshares operates in the Illinois counties of Champaign, Coles, Cumberland, Douglas, Effingham, and Moultrie.

The Schiff Hardin Team was led by Lauralyn G. Bengel, Olga Bogush (Picture), Hugo A. Gallegos, Nicholas M. Tipsord and Jason L. Zgliniec.

Stinson LLP attorneys representing LINCO and Providence Bank include Bob Monroe, Jim Swenson, Phil McKnight and Greg Johnson.

Involved fees earner: Lauralyn Bengel – Schiff Hardin LLP; Olga Bogush – Schiff Hardin LLP; Hugo Gallegos – Schiff Hardin LLP; Nicholas Tipsord – Schiff Hardin LLP; Jason Zgliniec – Schiff Hardin LLP; McGregor Johnson – Stinson Leonard Street; Philip McKnight – Stinson Leonard Street; Robert Monroe – Stinson Leonard Street; James Swenson – Stinson Leonard Street;

Law Firms: Schiff Hardin LLP; Stinson Leonard Street;

Clients: First Mid Bancshares; Lincoln Bancshares, Inc;

Author: Ambrogio Visconti