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306 North Main Street
Suite 3
Bloomington, Illinois 61701

P: 309.829.3311
F: 309.827.2171

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First Midstate Incorporated

First Midstate Incorporated is an investment banking firm in Bloomington, Illinois. We have over 50 years of experience in the formulation and marketing of Illinois municipal bonds. We decided long ago that rather than trying to be all things to all people, First Midstate would specialize in public finance. Our location in Bloomington makes us easily accessible to all Illinois locations and allows us to provide the full spectrum of personal service that our clients enjoy. Likewise, by being in regular contact with Illinois issuers, we are able to keep attuned to specific Illinois financing trends and needs.

Some of the areas of service which our clients have found helpful include:
  • Exploration of various financing methods and vehicles to best solve their needs.
  • Preliminary planning and structuring of debt and amortization schedules.
  • Preparation of factual information to the public.
  • Assist Bond Attorneys and the Issuer's representatives in formulating the project.
  • Attend meetings as needed to properly formulate the project.

Throughout our 50+ years of experience we have assisted a variety of municipalities including School Districts, Cities and Villages, Community Colleges, Colleges, Hospitals, Airport Authorities, Park Districts, Road Districts, Counties, Public Building Commissions and 501(c)(3) entities with their financing needs. Over 500 municipalities throughout Illinois have used our services, most of which have their own unique circumstances.

We have had experience with many different types of municipal bond issues and financing vehicles including: Refunding Bonds, Funding Bonds, Alternate Revenue Bonds, Road and Street Bonds, Working Cash Fund Bonds, School Building Bonds, Life/Safety Bonds, Lease/Debt Certificates, Insurance Reserve Bonds, Capital Appreciation Bonds, Certificates of Participation (Lease Financing), Special Service Area Bonds, Tax Increment Financing Bonds, Sales Tax Bonds, Water and Sewer Bonds, Airport Authority Bonds and Park Bonds. We have worked with both taxable and tax-exempt municipal bonds.

Marketing Experience and Expertise:

In our more than 50 years of experience in the Illinois municipal bond market we have successfully handled issues of varying size and complexity. We recognize that each issue is extremely important to the issuer, regardless of the size of the project.

Qualified and Experienced Personnel

Our staff has well over 100 years of combined experience in the Illinois public finance arena. First Midstate Incorporated is registered with the Financial Industry Regulatory Authority (FINRA) and the State of Illinois Securities Department. The firm is regulated by the State of Illinois, FINRA, Securities Exchange Commission and the Municipal Securities Rulemaking Board.

The firm is supervised by financial principal Paul D. Brown and has an excellent working relationship with various nationally recognized Bond Counsel, certified public accountants, architects, engineers and insurance analysts. It is our philosophy to consult with highly professional persons and firms in various areas of finance and to utilize their expertise in conjunction with the knowledge of our staff to develop and implement the appropriate financing plan for a specific project.

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© Copyright 2024 First Midstate Incorporated
306 North Main St., Suite 3, P.O. Box 3367 Bloomington, Illinois 61702-3367

Investments and services are offered through First Midstate Incorporated. member FINRA and SIPC.
SIPC protects securities customers of its members up to $500,000
(including $250,000 for claims for cash).
Explanatory brochure available upon request or at

First Midstate Incorporated is registered with the U.S. Securities and Exchange Commission
and the Municipal Securities Rulemaking Board. An investor brochure
is posted on the website of the Municipal Securities Rulemaking Board at
that describes the protections that may be provided by the Municipal Securities
Rulemaking Board rules and how to file a complaint with an appropriate regulatory authority.

Check the background of this firm on FINRA's BrokerCheck.