Welcome to our dedicated page for First Mid Bancshares news (Ticker: FMBH), a resource for investors and traders seeking the latest updates and insights on First Mid Bancshares stock.
Overview of First Mid Bancshares Inc.
First Mid Bancshares Inc. (FMBH) is a well-established United States financial holding company dedicated to offering a full suite of financial services that include community banking, wealth management, and insurance solutions. Operating primarily through its wholly-owned subsidiary, First Mid Bank, the organization is deeply embedded in the fabric of the communities it serves in Illinois, Missouri, and beyond. It has a longstanding history of providing a wide array of banking services tailored to meet the needs of personal clients, small businesses, agricultural enterprises, and commercial customers.
Core Business and Offerings
The company’s core business revolves around community banking, ensuring that clients have access to essential financial products such as checking and savings accounts, competitive loan instruments, and mortgage and home equity financing. Its focus on delivering financial security is underscored by the incorporation of convenient digital banking solutions, including online and mobile banking, that allow for easy account access and superior service delivery.
Diverse Financial Services
Beyond traditional banking services, First Mid Bancshares has expanded its market presence by offering comprehensive wealth management and insurance services. Its wealth management division provides clients with tailored investment strategies, brokerage services, and trust solutions that address the financial planning needs of a diverse clientele. Additionally, the insurance branch serves to deepen the company’s footprint in risk management by offering products that help customers manage and protect their assets. These combined efforts allow the company to maintain a diversified revenue stream and bolster its market position in an increasingly competitive industry.
Operational Excellence and Regional Impact
Operating in more than 30 communities, First Mid Bancshares demonstrates a strong commitment to regional development. The company’s community-centric approach is evident in its extensive local network, which is instrumental in forging long-lasting relationships with clients. Its operational strategy emphasizes a select combination of personal service and technological integration, ensuring that both the traditional and digital client bases are well-supported. This blend of local presence and innovation is central to the company’s enduring reputation within the financial industry.
Business Model and Revenue Generation
The company generates revenue primarily through traditional banking operations, including interest income derived from its expansive loan portfolio and fee income from a variety of banking and non-banking services. This includes service charges related to banking transactions, mortgage banking fees, and debit card processing fees, as well as supplemental income from wealth management advisory services and insurance products. By strategically managing its asset quality and funding costs, First Mid Bancshares continues to sustain healthy earnings while mitigating risk—a critical factor that underscores its reputation for operational excellence.
Competitive Position and Market Significance
Within the regional financial services arena, First Mid Bancshares maintains a solid competitive position thanks to its deep-rooted community presence, diversified service offering, and consistent focus on customer satisfaction. The company addresses market challenges—such as competition from larger national banks and evolving regulatory landscapes—by focusing on local expertise and agile service delivery. Its integrated platform of community banking, wealth management, and insurance not only differentiates it from competitors, but also solidifies its role as a trusted partner for individuals and businesses looking to secure and enhance their financial future.
Commitment to Quality and Client Focus
Quality in every facet of operation forms the cornerstone of First Mid Bancshares’ business philosophy. The company places high emphasis on maintaining superior asset quality, rigorous risk management practices, and responsive customer service. This commitment is reflected in its proactive approach to credit culture and continuous investment in efficient technologies, ensuring robust performance without compromising customer trust and service excellence.
Expert Insight and Industry Relevance
The comprehensive range of services offered by First Mid Bancshares is supported by a business model that leverages both traditional banking practices and innovative digital solutions. This dual approach not only secures the needs of the existing customer base but also attracts new clientele in a rapidly changing financial landscape. Moreover, the company’s proficient management team and experienced personnel drive operational success and ensure that every aspect of its diverse service offerings is aligned with market demands and regulatory requirements.
Conclusion
In summary, First Mid Bancshares Inc. stands as a multifaceted financial institution committed to delivering trusted, innovative, and community-focused services. Its integrated operations across banking, wealth management, and insurance services highlight a robust business model designed to meet varying client requirements. With a solid reputation for operational excellence and a clear focus on local market needs, the company continues to serve as an essential financial partner in the communities it calls home.
First Mid Bancshares, Inc. (NASDAQ: FMBH) reported a net income of $20.6 million for Q4 2022, with a diluted EPS of $1.01. Total loans grew by 2.2% for the quarter and 10.3% for the year, reaching $4.83 billion. The tangible book value per share rose by 7.8%. Despite a 5.4% drop in net interest income compared to the previous quarter, it increased by 6.9% year-over-year. Noninterest income grew by over 7%, driven by wealth management and insurance services. A quarterly dividend of $0.23 was declared. Capital levels remain strong, well above regulated benchmarks, with a Board-approved dividend payable on March 1, 2023.
First Mid Bancshares reported a net income of $17.9 million, or $0.88 diluted EPS, for Q3 2022, with a solid loan growth of $71.6 million, representing a 1.5% increase. The company experienced a 3.1% rise in net interest income, totaling $46.1 million, driven by higher loan volumes and interest rates. Asset quality remains strong with a non-performing loans ratio of 0.44%. The board declared a quarterly dividend of $0.23 per share, payable on December 1, 2022. However, noninterest income declined to $16.8 million, reflecting seasonal trends. Overall, the company shows resilience amid economic pressures.
First Mid Bancshares, Inc. (FMBH) reported strong financial results for Q2 2022, highlighting a net income of $17.8 million, or $0.86 per diluted share. The company experienced a 4.4% loan growth totaling $194.1 million and successfully completed a merger with Jefferson Bank. The board increased the quarterly dividend by 4.5% to $0.23 per share. Noninterest income decreased to $18.6 million due to seasonal factors, while total deposits fell by $168.3 million. The company's capital ratios remained strong, supporting ongoing growth despite challenges.
First Mid Bancshares reported a net income of $16.6 million and $0.86 diluted EPS for Q1 2022, with adjusted net income at $18.7 million or $0.96 diluted EPS. The company completed the acquisition of Delta Bancshares on February 14, expanding its market presence. Noninterest income rose to $21.1 million, driven by strong performance in wealth management and insurance. However, tangible book value per share fell by 11.6% due to rising interest rates and the acquisition. A regular quarterly dividend of $0.22 was declared for shareholders.
First Mid Bancshares, Inc. (NASDAQ: FMBH) has successfully completed the acquisition of Delta Bancshares Company, which includes Jefferson Bank and Trust. As of December 31, 2021, Delta reported total assets of approximately $718 million, with $560 million in deposits and $424 million in loans. This acquisition increases First Mid's total assets to around $6.7 billion. There will be no immediate changes for Jefferson's customers, with account conversions scheduled for June 2022.
First Mid Bancshares, Inc. (NASDAQ: FMBH) reported a net income of $16.8 million, or $0.93 diluted EPS, for the quarter ending December 31, 2021. Adjusted net income was $17.1 million, or $0.94 diluted EPS. The company experienced a 2.3% growth in loans, excluding PPP loans, and achieved record wealth management revenues of $18.1 million. Net interest income decreased by 6% on declining PPP income, yet increased 27.9% year-over-year. The Federal Reserve approved the acquisition of Delta Bancshares, expected to close in mid-February.
First Mid Bancshares reported a net income of $18.3 million for Q3 2021, achieving a record quarterly earnings per share of $1.01. Adjusted net income reached $19.7 million or $1.08 diluted EPS. Organic loan growth was 1.3%, and the integration of a St. Louis commercial lending team added $208.0 million in loans. Net interest income increased 6.4% from the previous quarter, totaling $2.7 million. Total deposits rose by $249.2 million to $4.99 billion. A quarterly dividend of $0.22 was approved, payable on December 1, 2021.
First Mid Bancshares reported a net income of $12.2 million for Q2 2021, with a diluted EPS of $0.68. The board approved a 7.3% dividend increase to $0.22 per share, payable on September 1, 2021. Key developments included the completed merger with Providence Bank and acquisitions enhancing non-interest income by $2.0 million. Net interest income rose 16.3% from Q1, totaling $6.0 million increase. Noninterest income grew 31.7% year-over-year. Asset quality remains strong with a 0.80% non-performing loan ratio.
First Mid Bancshares (NASDAQ: FMBH) announced definitive agreements to acquire Delta Bancshares Company and a loan and deposit portfolio in St. Louis. Delta, with $697 million in assets, will yield approximately $106.3 million in total consideration, comprising $15.2 million in cash and stock. The combined acquisitions are projected to be 14% accretive to earnings per share in 2022. First Mid expects to maintain strong regulatory capital ratios post-transaction. This strategic move enhances First Mid's market presence, positioning it 11th in deposit market share in St. Louis.
First Mid Bancshares reported a strong first quarter 2021 with a net income of $4.1 million and adjusted net income of $15.2 million, a record high. The company successfully completed the acquisition of LINCO Bancshares on February 22, enhancing its loan portfolio to $3.94 billion. Noninterest income rose to $17.7 million, driven by wealth management and insurance services. However, noninterest expenses increased to $37.6 million, partly due to acquisition costs. The company declared a quarterly dividend of $0.205 per share, reflecting strong capital levels above regulatory requirements.
FAQ
What is the current stock price of First Mid Bancshares (FMBH)?
What is the market cap of First Mid Bancshares (FMBH)?
What is the core business of First Mid Bancshares Inc.?
How does the company generate its revenue?
What financial services does it offer to its customers?
How is First Mid Bancshares positioned in its local markets?
What differentiates First Mid Bancshares from its competitors?
What role does technology play in its operations?
How does the company ensure asset quality and manage risk?
Does First Mid Bancshares offer wealth management and insurance services?
