First Mid-Illinois Bancshares Inc., based in Mattoon, will acquire the outstanding shares of SCB, the holding company for Soy Capital Bank & Trust Co.
SCB is a $437 million asset financial services holding company headquartered in Decatur, and operates out of the six key regions of Bloomington, Champaign, Decatur, Kankakee, Peoria and Springfield.
Soy Capital Bank has 10 branch locations and provides full banking services, as well as two additional lines of business that generate significant non-interest income in insurance services and agricultural management services. These lines include J.L. Hubbard Insurance and Bonds.
“First Mid is a perfect fit both culturally and strategically for our customers, employees and shareholders," said SCB CEO Bob Smith. "The combination creates a larger organization that will broaden and advance the products and services available to our customers. First Mid’s stock, which trades on NASDAQ, will provide our shareholders with enhanced liquidity and ownership in one of the most respected and best performing banks in the region.”
Following completion of the transaction, First Mid is expected to have approximately $3.8 billion in total assets. In addition, First Mid’s wealth and farm management business will have approximately $3.9 billion in assets under management and the combined insurance business will be approximately $14 million in annual revenue. First Mid’s non-interest income will increase from 25 percent of revenue to approximately 31 percent.
“The acquisition of SCB strengthens First Mid’s commitment to community banking and further enhances our various lines of business providing an attractive loan and deposit portfolio and a significant increase in non-interest income through services that we are very familiar with,” said First Mid Chairman and CEO Joe Dively. “SCB has a long history of delivering excellent service with a community-minded focus and an unmatched diversity of revenue. All three of First Mid’s lines of business, the bank, insurance and wealth and farm management, align perfectly with SCB’s franchise.”
The transaction has been unanimously approved by each company’s board of directors and is expected to close in late 2018, subject to regulatory approvals, the approval of SCB’s stockholders and the satisfaction of customary closing conditions, First Mid said.
On the move: A look at promotions, new job titles in the Decatur region
1 of 118
TUSCOLA – LyondellBasell, operator of the Tuscola Plant, has been named to Fortune Magazine's 2019 list of the "World's Most Admired Companies.”
DECATUR -- Litchfield resident Dawn Morris has been named the new executive director of the South Central Region of the American Red Cross, serving 43 counties through the Central, Quad Cities, West Central and South Central Illinois chapters.
DECATUR – Decatur Memorial Hospital employees selected Brenda Knight, patient transportation valet, as the 2018 Employee of the Year.
DECATUR – Dansig Insurance Risk Advisors is pleased to announce the promotion of Andrea Morey to assistant vice president of Commercial Insurance.
DECATUR -- Long-time Striglos employee Ryan Katt has been promoted to president.
DECATUR – Hickory Point Bank has announced that Jenny Krell has been promoted to vice president.
DECATUR — Bryan Smith, executive director for the Township Officials of Illinois and member of the Macon County Board, has been unanimously elected president of the National Association of Towns and Townships by the organization’s board of directors.
CHICAGO -- Archer Daniels Midland Co. has announced that Together We Grow – a consortium ADM began in 2016 to focus on educating, recruiting and retaining a more diverse workforce in the agriculture sector – has been recognized with Profiles in Diversity Journal’s 2018 Innovations in Diversity Award.
DECATUR – Bodine Electric of Decatur reached a safety milestone earlier this month, passing the one-year mark without a recordable injury or illness.
DECATUR – Ratul Raychaudhuri, MD, has joined the DMH Medical Group and is seeing patients at Decatur Neurosurgery Associates of Decatur, located on the campus of Decatur Memorial Hospital at 2 Memorial Drive, Suite 207.
DECATUR – Decatur Memorial Hospital announced that it has earned The Joint Commission’s Gold Seal of Approval for both the Management of Chronic Obstructive Pulmonary Disease (COPD), and Advanced Certification in Chronic Obstructive Pulmonary Disease (COPD).
DECATUR – Decatur Memorial Hospital has been named one of the nation’s 50 Top Cardiovascular Hospitals by IBM Watson Health.
DECATUR – May, Cocagne and King, P.C., (MCK) a Decatur-based accounting and consulting firm, has acquired Sulaski & Webb CPAs, a Bloomington-based accounting firm. Mary Ann Webb and Dawn Carlson, both partners with Sulaski & Webb, will remain as partners in MCK’s Bloomington office, and continue to lead their stellar team of professionals.
DECATUR – Busey Wealth Management welcomes Rachel Strode into the new role of Private Client Manager, serving the Decatur area.
DECATUR – Northgate Pet Clinic, Veterinary Dentistry,and Northgate Clinical Studies welcomes Dr. Jillian McDaniel to Decatur.
FORSYTH – J.L. Hubbard Insurance & Bonds in Forsyth was honored with the President’s Award from West Bend Mutual Insurance Company for earning top status in the company’s 2017 agency incentive program, Partners In Excellence.
DECATUR -- Blake Wallace, branch manager at Staley Credit Union, has been recognized by Credit Union Magazine as one of its 2018 Credit Union Rock Stars.
DECATUR – Muhammad Khan, M.D., has joined the DMH Medical Group. He is welcoming patients at Decatur Internal Medicine, 2975 N. Water St., Decatur.
DECATUR – Mt. Vernon Electric, a division of Decatur Industrial Electric, is pleased to announce Paul Yemm has joined the company as an account manager.
DECATUR -- Regions Bank has announced Bart Rose, Commercial Relationship Manager for Regions, will serve as Market Executive for the bank in Central Illinois and surrounding communities.
DECATUR – Decatur Memorial Hospital was named a “Best Hospital” by U. S. News & World Report, earning high performance ratings for abdominal aortic aneurysm repair, lung cancer surgery, and colon cancer surgery.
DECATUR – Michael Kottwitz, MD, has joined the DMH Medical Group and is seeing seeing patients at Urology Associates of Decatur, located on the campus of Decatur Memorial Hospital at West Hay Medical Center, Suite 200.
DECATUR – Dr. Nathan Pyle has joined the DMH Medical Group and is seeing patients at DMH Gastroenterology, located on the campus of Decatur Memorial Hospital at Physicians Plaza West, 2 Memorial Drive, Suite 101. He joins Drs. Richard DiLorenzo, Victor Eloy and Sudhakar Sheth.
FORSYTH – Heather Saffer, a veteran of sales in the marketplace, has taken on a new position as the area sales rep for Ali Doolin State Farm.
BLOOMINGTON – Geiser Consultants LLC is pleased to announce that Tammy Halford has earned the designation of Professional EOS Implementer.
DECATUR – The Decatur Family YMCA welcomes Abby Lowe as sports program director.
DECATUR ‐‐ Investment Planners Inc. has announced that its board of directors has named A. Bayard Closser to succeed David Koshinski as the next president of Investment Planners, Inc. and IPI Wealth Management Inc.
DECATUR – Yifei (Alex) Sun, M.D., has joined the DMH Vein & Vascular Institute and will see patients on the campus of Decatur Memorial Hospital at Physicians Plaza East, 1 Memorial Drive, Suite 300, Decatur.
MATTOON – First Mid Bank & Trust recently announced that David Hiden has been named senior vice president, chief information officer.
DECATUR – Central Illinois Bank (a branch of CIBM Bank) is pleased to announce the addition of Kim Isom and Matt Danbury.
DECATUR – Brinkoetter & Associates is proud to announce the appointment of Kaitlyn Sorensen to marketing director.
DECATUR – Jim Wilkerson has joined Vieweg Real Estate as its director of marketing, technology and innovation.
DECATUR – Thirty-two doctors traveled to Decatur from all over the United States on June 15 and 16 to attend training at Dr. Richard Lohr's office.
DECATUR ― Decatur Memorial Hospital has received the American Heart Association/American Stroke Association’s Get With The Guidelines-Stroke Gold Plus Quality Achievement Award.
DECATUR – In 1978, Sue Durbin started at Northgate Barber Shop and has continued to be an exceptional barber, team player and asset to the customers and staff.
DECATUR -- Gail Crookshank has joined Northgate Barber Shop as an additional barber for new and current customers.
DECATUR – Crown Toyota was recently presented with the prestigious President’s Award from Toyota Motor North America, Inc.
FORSYTH — Morgan Stanley has announced that Peter Hogan, a financial advisor in the firm’s Wealth Management office in Forsyth, has been awarded the certified financial planner designation.
DECATUR – The law firm of Erickson, Davis, Murphy, Johnson & Walsh, Ltd. is pleased to announce that David N. Reimer has become a partner of the firm.
DECATUR – Pekin Insurance is pleased to announced Dale Edgecombe, a member of Decatur Mutual Insurance Agency in Decatur, has met the criteria of excellence, commitment and dedication in the sale of life insurance to earn a membership in the Inner Circle Club from Pekin Life Insurance Company for the 20th consecutive year.
DECATUR – Dale Edgecombe, a member of Decatur Mutual Insurance Agency in Decatur, has met the criteria of excellence, commitment and dedication in the sale of life insurance to earn a membership in the Inner Circle Club from Pekin Life Insurance Company.
William P. Shade, III, Chairman of Soy Capital Bank and Trust Company and SCB Bancorp, Inc. (its parent company), is pleased to announce that C. Malcolm Head has been elected to the Board of Directors of both organizations.
CHICAGO – Archer Daniels Midland Co. has been named by USG Corporation as its Diversity & Inclusion Supplier of the Year for 2018.
DECATUR – Dale Edgecombe, a member of Decatur Mutual Insurance Agency in Decatur, has met the criteria of excellence, commitment and dedication in the sale of life insurance to earn a Gold Key Award from Pekin Life Insurance Company.
DECATUR – Brinkoetter & Associates, Realtors welcomes its newest real estate agent, Sandra Yelovich.
DECATUR – Mark Hite, owner of Eagle Rock Insurance Services, is the recipient of the Pekin Life Insurance Co. Silver Key Award.
DECATUR – Brinkoetter & Associates, Realtors welcomes its newest real estate agent, Jen Wood.
DECATUR – Brinkoetter & Associates, Realtors welcomes its newest real estate agent, Eric DeVore.
DECATUR – R.V. Evans Company, in its 81st year of operation, continues to grow and is proud to announce the following promotions:
DECATUR – Naomi D. Johnson, of Heckman Healthcare Services and Supplies in Decatur, has successfully completed a rigorous process to earn certification as a Mastectomy Fitter from the Board for Certification/Accreditation (BOC).
MATTOON – The East Central Illinois Development Corporation has selected Larissa Seward as its new executive director.
DECATUR --Prairie Cardiovascular Consultants is proud to announce the winners of the 5th Annual Patient Choice Awards.
DECATUR – Brinkoetter & Associates is pleased to announce that Joe P. Doolin of The Doolin Group and Brinkoetter & Associates, Realtors was named 2018 Realtor of the Year by the Central Illinois Board of Realtors.
DECATUR – Consociate is pleased to announce the promotion of Tina Suzewitz to Vice President of Executive and Human Resources.
DECATUR – Land of Lincoln Credit Union has announced the resignation of CEO Doug Harris, effective March 9.
DECATUR – Brinkoetter & Associates, Realtors welcomes its newest real estate agent, Iris Giuliani. Having grown up observing her family's involvement in real estate, Iris has decided to follow in their footsteps.
DECATUR – Long Creek Dental Care is proud to announce Warren F. Jesek, DDS, MAGD was elected the 61st president of the American Equilibration Society (AES) at the annual meeting in Chicago.
SULLIVAN – The Sullivan Chamber & Economic Development is proud to announce the winners of the 2017 annual awards.
DECATUR – Long Creek Dental Care is proud to announce that Dr. Jacob Coffey has joined Dr. Warren Jesek and his team of caring professionals
DECATUR – The Decatur Area Convention & Visitors Bureau welcomes Susie Aubert as its director of meetings and conventions.
DECATUR – Hickory Point Bank has announced that Judy Lourash has been named mortgage lender for the Decatur area.
DECATUR – Land of Lincoln Credit Union recently obtained SBA Certified Lender status.
DECATUR -- Decatur Memorial Hospital was recently awarded a Five-Star Rating – the highest possible score – by the Centers for Medicare & Medicaid Services (CMS), as announced by Medicare.gov on Hospital Compare.
HARRISTOWN– EPL Bio Analytical Services (EPL BAS) is once again a winner for the annual AGROW Best Supporting Role Award.
DECATUR – Hickory Point Bank and Kehart, Wise, Toth & Lewis have jointly announced that James E. Peckert will rejoin his former law firm in February.
DECATUR – Brinkoetter & Associates, Realtors welcomes its newest real estate agent, Jason White.
DECATUR – JD Byrider in Decatur received the 2017 Most Improved Award at the JD Byrider National Convention in Florida.
DECATUR – Decatur Industrial Electric is pleased to announce the promotion of Landon Baine.
DECATUR – Land of Lincoln Credit Union is pleased to announce the appointment of Corey Conroy as the Business Development Manager.