UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
JANUARY 21, 2000
COMMISSION FILE NUMBER: 0-13368
FIRST MID-ILLINOIS BANCSHARES, INC.
(Exact name of Registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation or organization)
37-1103704
(I.R.S. employer identification No.)
1515 CHARLESTON AVENUE / PO BOX 499, MATTOON, ILLINOIS 61938
(Address and Zip Code of Principal Executive Offices)
(217) 234-7454
(Registrant's telephone number, including area code)
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ITEM 5: OTHER EVENTS
First Mid-Illinois Bancshares, Inc., today reported that its net income
increased to $5,232,000 in 1999 ($2.29 per diluted share) as compared to
$5,062,000 ($2.24 per diluted share) in 1998. William S. Rowland, chairman and
chief executive officer, said that 1999 earnings were driven by growth in loans
and deposits as well as a significant increase in revenues from trust, insurance
and brokerage sales.
Rowland added that loan totals increased to $388 million at the end of 1999
as compared to $349 million in 1998 and that deposits increased to $485 million
in 1999 from $450 million in 1998.
"We are especially pleased with the growth in revenue from financial
services," Rowland said. "In total, trust, insurance and brokerage revenue
amounted to $2.4 million in 1999, a 16 percent increase from 1998."
Rowland noted several other accomplishments in 1999 including the
implementation of a shareholder rights plan, designed to protect the value of
the equity investments of First Mid-Illinois shareholders; the conversion of the
company's convertible preferred stock into common shares; and the smooth
transition from 1999 to 2000 without interruptions in customer service.
"First Mid-Illinois has always prided itself in being a financial
institution that knows how to serve the needs of its customers and its owners.
Our 1999 growth and profitability demonstrate that our community- focused
strategy has been both well-planned and well-executed," Rowland said.
First Mid-Illinois Bancshares, Inc., is the parent company of First
Mid-Illinois Bank & Trust, N.A., a full-service financial institution serving
east-central Illinois through offices in Mattoon, Charleston, Effingham,
Altamont, Neoga, Sullivan, Arcola, Taylorville, Tuscola, Monticello, Deland and
Urbana.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST MID-ILLINOIS BANCSHARES, INC.
By: /S/ WILLIAM S. ROWLAND
William S. Rowland
President and Chief Executive Officer
Date: JANUARY 25, 2000
