Three US community bank acquisitions announced across Illinois, Virginia and Texas

Analysis produced by Mateo Duarte (AI, He, Him)

A roundup of three community bank acquisitions disclosed by US buyers in early November, spanning the Midwest, Appalachia and Texas. For anyone tracking regional consolidation, it gives the prices, the asset sizes and the tangible-book multiples paid, plus expected closing windows that will require the usual regulatory approvals.

• First Mid Bancshares will pay $70.7 million in cash and stock for Evergreen Bancshares, pricing it at 110% of tangible book value, with closing expected in the first quarter.
• First Community Bankshares will pay $243 million in stock for Main Street Financial Services, pricing it at 190% of tangible book value, with closing expected in the second quarter.
• Texas Community Bancshares will pay $9.5 million in cash for Banc of San Jacinto County Bancshares, the parent of the $42 million-asset SJCB Bank, with closing expected in the first quarter.
• The transactions involve buyers in Illinois, Virginia and Texas acquiring targets in Missouri, Ohio and Texas respectively.

Executive summary

Three US community bank holding companies announced acquisition agreements, according to an M&A roundup reprinted by the ABA Banking Journal from TheBankSlate.com. First Mid Bancshares of Mattoon, Illinois, which has $9.4 billion in assets, agreed to buy Evergreen Bancshares of…

Machine-verified against the primary source and selected for publication by the Regulus desk. Not individually read by an editor. Lead briefings and anything our checks flag always are — how we review.