BLOOMINGTON, Ill. - Commerce Bancshares, St. Louis, agreed Monday to acquire Peoples Mid-Illinois Corp. in a stock swap valued by the American Banker at approximately $89.3 million.

The merger will add $1 billion of assets to Commerce's $7.8 billion.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.