First Mid Bancshares, Inc. entered into a definitive agreement to acquire 100% of Evergreen Bancshares, Inc., the parent company of American Bank of Freedom. Under the terms, Evergreen shareholders will receive $5.20 in cash plus 0.4081 shares of First Mid common stock for each share held. The aggregate consideration is approximately $70.7 million based on First Mid's closing price of $51.01 on October 27, 2026. The transaction is expected to close in the first quarter of 2027, subject to regulatory approvals and shareholder consent. American Bank of Freedom held approximately $932 million in assets as of September 30, 2026. First Mid Bancshares operates a community banking franchise providing financial services across multiple states.
