First Mid-Illinois Bancshares (FMBH) in Mattoon, Ill., has received approval from the Nasdaq Stock Market to list its common stock on the Nasdaq Global Market.

Trading on Nasdaq is expected to begin on May 12, 2014, the $1.6 billion-asset company said in a press release.

First Mid-Illinois is the parent company of First Mid-Illinois Bank & Trust, which operates 37 branches across Illinois, and First Mid Insurance Group.

Listing on the Nasdaq "should increase the company's visibility in the marketplace," help increase liquidity and further enhance its long-term value through acquisition or organic growth," as it gets closer to celebrating its 150th anniversary early next year, said Chairman and Chief Executive Joe Dively, who took the helm in October 2013 after the previous CEO retired.

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