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First Mid Bancshares, Inc. (NASDAQ: FMBH) is a United States-based financial holding company that operates through its wholly-owned subsidiary, First Mid Bank & Trust. The company provides a broad range of financial services including community banking, wealth management, and insurance services. Headquartered in Illinois, First Mid is a community-focused organization with a significant presence across Illinois, Missouri, Texas, and Wisconsin, as well as a loan production office in the greater Indianapolis area.
First Mid Bank & Trust offers a variety of personal and business banking products aimed at making life easier for its customers. Their services include checking accounts with cost-saving benefits, competitive loan rates for mortgages, home equities, small businesses, and agricultural needs. The bank also provides convenient online and mobile banking options, allowing customers to manage their finances with ease. With a network of locations in 37 communities, First Mid is committed to providing financial security for every stage of life.
In addition to traditional banking services, First Mid Bancshares operates First Mid Insurance Group and First Mid Wealth Management Co. First Mid Insurance Group offers a wide range of insurance products, including commercial property and casualty, personal property and casualty, group medical plans, and individual health insurance. The company's wealth management division provides comprehensive financial planning, investment management, and retirement planning services.
First Mid Bancshares has recently completed several strategic acquisitions to enhance its service offerings. Notably, the acquisition of Blackhawk Bank and PGIB Insurance has strengthened its market position and broadened its product portfolio. These acquisitions have also contributed to significant growth in both loans and deposits, demonstrating the company's successful execution of its relationship-driven business model.
Financially, First Mid Bancshares maintains strong asset quality metrics and robust capital levels. As of the most recent quarter, the company's total loans reached $5.50 billion, and deposits totaled $6.24 billion. The company continues to experience growth in net interest income and noninterest income, driven by strategic acquisitions and organic growth.
Overall, First Mid Bancshares, Inc. is a well-capitalized and diversified financial institution that continues to grow and adapt to meet the needs of its customers and communities. With a history spanning over 159 years, First Mid remains committed to providing exceptional financial services and maintaining strong relationships with its customers.
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.
First Mid Bancshares, Inc. (NASDAQ: FMBH) has successfully completed the acquisition of LINCO Bancshares, Inc., which includes Providence Bank. As of December 31, 2020, Providence boasted total assets of $1.1 billion, $895 million in deposits, and $863 million in loans across 14 locations in Missouri, Texas, and Indiana. Following the acquisition, First Mid's total assets are approximately $5.7 billion. The account conversion for Providence Bank customers is anticipated in Q2 2021, with no immediate changes affecting them.
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