First Mid Bancshares, Inc. filed a Form 425 on October 29, 2026, announcing a definitive agreement to acquire Evergreen Bancshares, Inc. and its subsidiary, American Bank of Freedom, with the transaction expected to close in the first quarter of 2027.

Key Highlights

  • Definitive agreement signed: First Mid Bancshares entered into a definitive agreement to acquire Evergreen Bancshares, Inc. and its subsidiary, American Bank of Freedom.
  • Target bank size: As of September 30, 2026, American Bank of Freedom had approximately $932 million in total assets, $712 million in loans, and $727 million in deposits, according to the filing.
  • Footprint: American Bank of Freedom operates 10 banking centers primarily in the St. Louis metropolitan area, with additional locations in Rochester, Illinois; Westfield, Indiana; and a loan production office in the Denver, Colorado area.
  • Expected closing: The filing states the transaction is anticipated to close in Q1 2027, with the bank merger and systems conversion expected to occur in Q2 2027.
  • Legacy relationship: According to the filing, First Mid's relationship with the Glarner family, owners of American Bank, dates back to the 1980s through Jefferson Bank and Trust, which became part of First Mid through a 2022 acquisition.
  • Form S-4 planned: The filing states First Mid will file a registration statement on Form S-4 with the SEC in connection with the proposed transactions.

First Mid Bancshares Pursues Community Bank Expansion in Missouri and Beyond

According to the Form 425 filing, First Mid Bancshares, Inc. (NASDAQ:FMBH), a community banking organization headquartered in Mattoon, Illinois, announced it has entered into a definitive agreement to acquire Evergreen Bancshares, Inc. and its banking subsidiary, American Bank of Freedom. American Bank of Freedom is headquartered in Wellsville, Missouri, and the filing describes it as a relationship-driven community banking institution with a legacy of more than 140 years, focused on small business, retail, and commercial banking services.

The filing, which takes the form of an internal message from President and CEO Matt Smith, describes the combination as consistent with First Mid's strategy of community banking growth and positions the acquirer as an attractive merger partner in the regional banking sector. American Bank of Freedom's Missouri locations include Des Peres, Middletown, Montgomery City, O'Fallon, Rock Hill, Warrenton, Wellsville, and Wright City, extending First Mid's footprint across a multi-state geography. The filing notes that First Mid intends to bring expanded services and the benefits of a larger balance sheet to American Bank of Freedom customers following integration.

The filing states that further details about closing and conversion activities will be provided as information becomes available, and that the acquisition will be discussed on a Quarterly Call scheduled for November 12, 2026. The document includes forward-looking statements, which First Mid identifies as subject to numerous risks and uncertainties, including regulatory approvals, shareholder approvals, integration challenges, and the possibility that anticipated benefits may not be realized within the expected time period. First Mid cautions that actual results could differ materially from those indicated by such statements.

What Was Disclosed

First Mid Bancshares filed a Form 425 disclosing a definitive agreement to acquire Evergreen Bancshares, Inc. and its subsidiary, American Bank of Freedom. The target held approximately $932 million in total assets as of September 30, 2026. Transaction close is anticipated in Q1 2027, with systems conversion in Q2 2027.