secwatch.observer — SEC 8-K summary
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Issuer:     FIRST MID BANCSHARES, INC. (FMBH)
CIK:        0000700565
Form:       8-K
Filed at:   2023-03-21T23:59:59+00:00
Accession:  0001171843-23-001784
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Mid Bancshares to acquire Blackhawk Bancorp in ~$90.3M stock deal
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- First Mid acquires Blackhawk in 100% stock transaction; Blackhawk shareholders receive 1.15 FMBH shares per BHWB share.
- Aggregate consideration ~$90.3M based on FMBH close of $27.13 on March 20, 2023.
- Deal expected to be ~22% accretive to 2024 EPS (excl. nonrecurring items); TBV dilution earnback in 1.9 years.
- Blackhawk had $1.32B assets, $782M loans, $1.19B deposits at 12/31/2022; ~31% cost savings targeted.
- Pro forma company ~$8.1B; closing expected H2 2023 subject to regulatory and Blackhawk shareholder approval.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700565/000117184323001784/0001171843-23-001784-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700565/000117184323001784/f8k_032123.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-001784

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer