First Mid Bancshares, Inc. Announces Director Changes
December 20, 2019 at 08:48 pm
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The Board of Directors of First Mid Bancshares, Inc. adopted a resolution increasing the size of the Board of Directors from eight (8) directors to nine (9) directors. At the same meeting, the company’s independent directors nominated, and the Board of Directors appointed, Mr. Zak Horn to fill the vacancy on the Board of Directors resulting from the increase in the size of the Board of Directors. Mr. Horn will join the Board of Directors effective January 21, 2020. Mr. Horn was appointed to serve until the expiration of the current Class II term in 2021, or until his successor is duly elected and qualified, unless he shall earlier resign or be removed. The Board of Directors has determined that Mr. Horn will serve on the Audit Committee and Compensation Committee of the Board of Directors. Mr. Horn will be compensated for his service as a director under the Company’s standard compensation program for non-employee directors. Additionally, certain entities in which Mr. Horn has a material interest had extensions of credit from First Mid Bank & Trust, N.A. during 2018 and 2019. All such extensions of credit were made in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans with persons not related to the bank, and did not involve more than the normal risk of collectability or present other unfavorable features.
First Mid Bancshares, Inc. is a financial holding company. The Company is the parent company of First Mid Bank & Trust, N.A. (First Mid Bank)., Blackhawk Bank, First Mid Insurance Group, Inc. (First Mid Insurance) and First Mid Wealth Management Company. It is engaged in the business of banking through its wholly owned subsidiary, First Mid Bank. The Company offers insurance products and services to customers through its wholly owned subsidiary, First Mid Insurance. The Company offers trust, farm services, investment services, and retirement planning through its wholly owned subsidiary, First Mid Wealth Management Company. First Mid provides a range of financial services, including banking, wealth management, brokerage, Ag services, and insurance through a network of locations throughout Illinois, Missouri, Texas, and Wisconsin and in Indianapolis area. First Mid Wealth Management Company offers services, such as retirement planning, financial planning, and investment services.