FIRST MID-ILLINOIS BANCSHARES, INC. (NASDAQ:FMBH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Bancshares, Inc. (the “Company”) approved an Executive Employment
Agreement entered into between the Company and Joseph R.
Dively>effective January 1, 2017 for three>years, until
December 31, 2019, under which Mr. Dively>agrees to serve as
Chairman, President and Chief Executive Officer of the Company (the
“Dively>Agreement”). Under the Dively>Agreement, Mr.
Dively>will receive an annual base salary of $356,928>and
will participate in the Company’s Incentive Compensation Plan and
Deferred Compensation Plan. The Dively>Agreement also provides
Mr. Dively>with severance benefits in the event of the
termination of his employment under certain circumstances and
contains certain confidentiality and non-competition and
non-solicitation provisions. The Dively>Agreement is filed as
Exhibit 10.1>and is incorporated by reference herein.
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Exhibit 10.1
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Employment Agreement between First Mid-Illinois Bancshares,
Inc. and Joseph R. Dively, effective January 1, 2017. |
About FIRST MID-ILLINOIS BANCSHARES, INC. (NASDAQ:FMBH)
First Mid-Illinois Bancshares, Inc. is a financial holding company. The Company is engaged in the business of banking through its subsidiary, First Mid-Illinois Bank & Trust, N.A. (First Mid Bank). It provides data processing services to affiliates through its subsidiary, Mid-Illinois Data Services, Inc. It offers insurance products and services to customers through its subsidiary, The Checkley Agency, Inc., doing business as, First Mid Insurance Group (First Mid Insurance). It operates in over three primary lines of business: community banking and wealth management through First Mid Bank, and insurance brokerage through First Mid Insurance. Within the community banking line, it serves commercial, retail and agricultural customers with an array of deposit and loan related products. The wealth management line provides estate planning, investment and farm management services. The insurance brokerage line provides commercial lines insurance to businesses, homeowner, health and life. FIRST MID-ILLINOIS BANCSHARES, INC. (NASDAQ:FMBH) Recent Trading Information
FIRST MID-ILLINOIS BANCSHARES, INC. (NASDAQ:FMBH) closed its last trading session up +0.51 at 33.50 with 15,859 shares trading hands.
