Stinson Serves as Legal Counsel to LINCO Bancshares, Inc. in Merger
LINCO Bancshares, Inc., based in Columbia, MO, and First Mid Bancshares, Inc., based in Mattoon, IL, announced on September 28, 2020 the execution of a merger agreement. As provided in that merger agreement, First Mid will acquire LINCO and its subsidiary, Providence Bank (Columbia, MO), a Missouri depository trust company with approximately $1.2 billion in assets. The transaction remains subject to various closing conditions, including receipt of required regulatory approvals.
"This combination expands the products and services available to our customers, particularly both wealth management and insurance," said President and CEO of Providence Bank, Kit Stolen. "Our Providence banking centers in the Metro West St. Louis align perfectly with First Mid’s existing Metro St. Louis presence, which will greatly enhance access for our combined client base. Along with First Mid’s strong deposit platform, a larger lending limit from the combined organization will provide significant growth and enhanced opportunities for the customers and communities we serve."
Stinson LLP attorneys representing LINCO and Providence Bank include Bob Monroe, Jim Swenson, Phil McKnight and Greg Johnson.
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