First Mid Bancshares, Inc (FMBH)

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About First Mid Bancshares, Inc

First Mid Bancshares, Inc., a financial holding company, provides community banking products and services to commercial, retail, and agricultural customers in the United States. It accepts various deposit products, such as demand deposits, savings accounts, money market deposits, and time deposits. The company’s loan products include commercial real estate, commercial and industrial, agricultural and agricultural real estate, residential real estate, and consumer loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases. It also offers wealth management services, which include estate planning, investment, and farm management and brokerage services for individuals; and employee benefit services for business enterprises. In addition, the company provides property and casualty, senior insurance products, and group medical insurance for businesses; and personal lines insurance to individuals. It operates through a network of 63 banking centers in Illinois and 1 office in Missouri, as well as a loan production office in Indiana. The company was formerly known as First Mid-Illinois Bancshares, Inc. and changed its name to First Mid Bancshares, Inc. in April 2019. First Mid Bancshares, Inc. was incorporated in 1981 and is headquartered in Mattoon, Illinois. Address: 1421 Charleston Avenue, Mattoon, IL, United States, 61938

First Mid Bancshares, Inc News and around…

Latest news about First Mid Bancshares, Inc (FMBH) common stock and company :

Consumer groups cite minority lending in opposition to merger of First Mid Bancshares, St. Louis-based parent of Jefferson Bank and Trust
19 Oct, 2021 Yahoo! Finance

In the letters submitted to the Federal Reserve Bank, which has the final decision on the merger, three consumer advocacy groups cited "serious concerns" with what it described as First Mid’s history of lending to minority borrowers at a rate below its peers.

Here's What First Mid Bancshares, Inc.'s (NASDAQ:FMBH) Shareholder Ownership Structure Looks Like
04 Sep, 2021 Yahoo! Finance

A look at the shareholders of First Mid Bancshares, Inc. ( NASDAQ:FMBH ) can tell us which group is most powerful...

This is Why First Mid-Illinois Bancshares (FMBH) is a Great Dividend Stock
01 Sep, 2021 Yahoo! Finance

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Mid-Illinois Bancshares (FMBH) have what it takes? Let's find out.

Why First Mid-Illinois Bancshares (FMBH) is a Top Dividend Stock for Your Portfolio
16 Aug, 2021 Yahoo! Finance

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Mid-Illinois Bancshares (FMBH) have what it takes? Let's find out.

First Mid-Illinois Bancshares (FMBH) Surpasses Q2 Earnings and Revenue Estimates
29 Jul, 2021 Yahoo! Finance

First Mid-Illinois (FMBH) delivered earnings and revenue surprises of 5.38% and 6.60%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

First Mid Bancshares, Inc. Announces Acquisitions of Delta Bancshares Company and St. Louis Based Loan and Deposit Portfolio and Team
29 Jul, 2021 FinancialContent
First Mid Bancshares, Inc. Announces Second Quarter 2021 Results
29 Jul, 2021 FinancialContent
First Mid-Illinois Bancshares (FMBH) to Report Q2 Results: Wall Street Expects Earnings Growth
22 Jul, 2021 Yahoo! Finance

First Mid-Illinois (FMBH) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

First Mid-Illinois Bancshares (FMBH) is a Top Dividend Stock Right Now: Should You Buy?
07 Jul, 2021 Yahoo! Finance

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Mid-Illinois Bancshares (FMBH) have what it takes? Let's find out.

Oversold Conditions For First Mid Bancshares (FMBH)
18 Jun, 2021 FinancialContent

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100..

The First Mid Bancshares (NASDAQ:FMBH) Share Price Is Up 72% And Shareholders Are Holding On
05 Jun, 2021 Yahoo! Finance

The main point of investing for the long term is to make money. Furthermore, you'd generally like to see the share...

First Mid-Illinois Bancshares (FMBH) Q1 Earnings and Revenues Beat Estimates
28 Apr, 2021 Yahoo! Finance

First Mid-Illinois (FMBH) delivered earnings and revenue surprises of 114.63% and 3.54%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

First Mid Bancshares, Inc. Announces First Quarter 2021 Results
28 Apr, 2021 FinancialContent
Analysts Estimate First Mid-Illinois Bancshares (FMBH) to Report a Decline in Earnings: What to Look Out for
22 Apr, 2021 Yahoo! Finance

First Mid-Illinois (FMBH) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

FMBH Crosses Above Average Analyst Target
22 Mar, 2021 FinancialContent

In recent trading, shares of First Mid Bancshares Inc (FMBH) have crossed above the average analyst 12-month target price of $43.75, changing hands for $44.50/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level..

What Is The Ownership Structure Like For First Mid Bancshares, Inc. (NASDAQ:FMBH)?
07 Mar, 2021 Yahoo! Finance

Every investor in First Mid Bancshares, Inc. ( NASDAQ:FMBH ) should be aware of the most powerful shareholder groups...

First Mid Bancshares, Inc. Completes Acquisition of LINCO Bancshares, Inc.
22 Feb, 2021 FinancialContent
Why First Mid-Illinois Bancshares (FMBH) is a Great Dividend Stock Right Now
08 Feb, 2021 Yahoo! Finance

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does First Mid-Illinois Bancshares (FMBH) have what it takes? Let's find out.

First Mid-Illinois Bancshares (FMBH) Q4 Earnings and Revenues Top Estimates
28 Jan, 2021 Yahoo! Finance

First Mid-Illinois (FMBH) delivered earnings and revenue surprises of 15.71% and 3.08%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

First Mid Bancshares, Inc. Announces Fourth Quarter and Full Year 2020 Results
28 Jan, 2021 FinancialContent
First Mid Bancshares, Inc. Announces Fourth Quarter and Full Year 2020 Results
28 Jan, 2021 Yahoo! Finance

MATTOON, Ill., Jan. 28, 2021 (GLOBE NEWSWIRE) -- First Mid Bancshares, Inc. (NASDAQ: FMBH) (the “Company”) today announced its financial results for the quarter and full year period ended December 31, 2020. Highlights Record quarterly net income of $13.6 million, or $0.81 diluted EPSReceived regulatory approval on pending acquisition of LINCO Bancshares, Inc. (“LINCO”)Assisted customers on the forgiveness of $93.4 million in Paycheck Protection Program (“PPP”) loansAnnounced branch optimization plan with completion now anticipated by mid-year 2021Wealth Management assets under management increased 7% for the year to $4.5 billionAnnouncing change to quarterly dividend from semi-annual dividend beginning in 2021 “2020 was an incredible year with a combination of significant challenges and tremendous opportunities,” said Joe Dively, Chairman and Chief Executive Officer. “The First Mid team stepped up for our customers and shareholders, and I am proud of all that we accomplished. We ended the year with a record quarter of financial results, including working with our customers in the PPP forgiveness process, while completing a very successful subordinated debt offering and receiving regulatory approval for the pending acquisition of LINCO Bancshares, Inc.” “We are excited about the new year with the second round of PPP underway, the branch optimization plan to be completed by mid-year, and the expected close of the LINCO acquisition in February. The deepened presence in the St. Louis metro market and geographic diversity into mid-Missouri and Texas increases our growth prospects, strengthens our balance sheet, and is estimated to provide over 20% earnings accretion. The customers and employees are excited about the expanded product set and are ready to move forward with a combined company that we believe will be better and stronger,” Dively concluded. Net Interest Income Net interest income for the fourth quarter of 2020 increased by $0.9 million, or 2.8% compared to the third quarter of 2020. Interest income increased by $1.3 million and interest expense increased $0.4 million from the previous quarter. The increase in interest income was partially driven by fee income from the PPP loans. The PPP fee income was $3.2 million in the fourth quarter compared to $1.0 million in the third quarter of 2020. At year end, the Company had $3.5 million of unrealized fee income on the first round of PPP loans remaining. Total accretion income was $0.3 million, which was a decline of $0.1 million from the previous quarter. Interest expense was impacted by an additional $0.9 million of interest on the $96 million of subordinated debt that was raised in connection with the pending LINCO acquisition and for general corporate purposes. Excluding this, interest expense declined by $0.5 million in the quarter. In comparison to the fourth quarter of 2019, net interest income increased $2.5 million, or 7.9%. The increase was primarily the result of higher interest income on loans and lower interest expense outpacing the decline in investment income. Interest expense decreased by $1.4 million compared to the fourth quarter of last year, despite the additional $0.9 million of interest expense on the new subordinated debt. Net Interest Margin Net interest margin, on a tax equivalent basis, was 3.17% for the fourth quarter of 2020, which was flat compared to the prior quarter. Both earning asset yields and cost of funds increased by two basis points. Earning asset yields were impacted by PPP fee income and cost of funds were impacted by the new subordinated debt interest expense. Excluding the subordinated debt interest, the net interest margin would have been 8 basis points higher. In comparison to the fourth quarter of 2019, the net interest margin decreased 40 basis points with accretion income representing $1.5 million, or 17 basis points of the decline. Earning asset yields were down 66 basis points and average cost of funds declined by 26 basis points compared to the same period. Loan Portfolio Total loans ended the quarter at $3.14 billion, representing a decrease of $97.8 million compared to the prior quarter. The decline included $93.4 million of forgiven PPP loans. At year end, the Company had $168.3 million of PPP loans remaining on the balance sheet. For the year, and excluding PPP and acquired loans, loan balances increased $91.8 million, or 3.4%. The Company continues to see its loan deferrals trending lower. As of January 19, 2021, outstanding deferrals totaled $49.4 million, or 1.6% of the loan portfolio. Hotels represent the largest deferral category at 84% of the total outstanding deferrals. Most remaining deferrals are paying interest with only principal deferred. Asset Quality The Company’s asset quality measures continue to reflect a strong credit culture. As of December 31, 2020, the allowance for credit losses, excluding $168.3 million of PPP loans, was 1.41% of total loans, the ratio of non-performing loans to total loans was 0.90%, and the allowance for credit losses to non-performing loans was 149.0%. Non-performing loans increased $5.7 million to $28.1 million at quarter end. Non-performing assets to total assets was 0.65% at quarter end. Net charge-offs were $0.6 million during the fourth quarter compared to $0.3 million in the prior quarter. During the quarter, the Company completed a review of all its internally identified COVID watch list loans, including those remaining on or coming off deferrals. The review, along with other changes to classifications unrelated to COVID, resulted in an increase to special mention loans by $31.9 million to $137.8 million and an increase to substandard loans by $4.4 million to $59.5 million. The increases were primarily in the hotel and restaurant sectors. The Company does not currently expect material losses from those specific downgrades that occurred in the quarter. The Company’s total past dues improved to 0.44% at year-end 2020 versus 0.55% at the end of the third quarter. Provision expense was recorded in the amount of $0.6 million in the fourth quarter, in line with net charge-offs. The reserve was flat compared to the prior quarter on a slightly lower loan balance, excluding PPP. The economic outlook has significantly improved for the Agriculture sector, while the COVID driven restrictions continue to provide macro-economic uncertainty in certain sectors. Deposits Total deposits ended the quarter at $3.69 billion, which represented an increase of $72.9 million from the prior quarter. Noninterest bearing deposits increased $99.3 million, while interest bearing deposits declined by $26.4 million. The Company’s average rate on cost of funds was 0.41% for the quarter compared to 0.39% in the prior quarter and 0.67% in the fourth quarter of 2019. Excluding the interest on the subordinated debt raised during the quarter in connection with the pending LINCO acquisition, the average cost of funds would have been 0.33%. Noninterest Income Noninterest income for the fourth quarter of 2020 was $15.5 million compared to $13.6 million in the third quarter. The increase compared to the prior quarter was due to the strong performance in the farm management and real estate areas of the wealth management division and higher insurance and mortgage banking revenues. The strength of First Mid’s noninterest income continues to be a strategic differentiator providing significant diversification for the Company. In comparison to the fourth quarter of 2019, noninterest income increased $0.7 million, or 4.5%. The year-over-year increase was driven by wealth management, insurance, debit card fees and mortgage banking income, partially offset by lower service charges, less securities gains and a decline in the other non-interest income category. Noninterest Expenses Noninterest expense for the fourth quarter totaled $30.3 million compared to $26.9 million in the third quarter. The current quarter included $0.4 million, or approximately $0.02 EPS, of acquisition related costs. Consistent with the prior year, incentive compensation increased with the seasonal growth for the farm real estate sales within the wealth management business as well as the strong overall financial performance for the quarter. In comparison to the fourth quarter of 2019, noninterest expenses increased $2.7 million. The increase was primarily due to acquisition costs and higher incentive costs from increased revenues and net income. The Company’s efficiency ratio, on a tax equivalent basis and inclusive of acquisition costs, for the fourth quarter 2020 was 59.0% compared to 54.9% in the prior quarter and 57.2% for the same period last year. Regulatory Capital Levels and Dividend The Company’s capital levels remained strong and comfortably above the “well capitalized” levels. Capital levels ended the period as follows: Total capital to risk-weighted assets18.82%Tier 1 capital to risk-weighted assets14.63%Common equity tier 1 capital to risk-weighted assets 14.03%Leverage ratio10.22% The Company’s Board of Directors has determined it is in the best interest of shareholders to change from its historical semi-annual dividend to a quarterly dividend beginning in 2021. Therefore, the Board of Directors approved a quarterly dividend in the amount of $0.205 payable on March 1, 2021 for shareholders of record on February 19, 2021. The dividend amount is exactly half of the most recent semi-annual dividend that was paid in December. About First Mid: First Mid Bancshares, Inc. (“First Mid”) is the parent company of First Mid Bank & Trust, N.A., First Mid Insurance Group, Inc. and First Mid Wealth Management Co. First Mid is a $4.7 billion community-focused organization that provides a full-suite of financial services including banking, wealth management, brokerage, Ag services, and insurance through a sizeable network of locations throughout Illinois and eastern Missouri and a loan production office in the greater Indianapolis area. Together, our First Mid team takes great pride in their work and their ability to serve our customers well over the last 155 years. More information about the Company is available on our website at www.firstmid.com. Non-GAAP Measures: In addition to reports presented in accordance with generally accepted accounting principles (“GAAP”), this release contains certain non-GAAP financial measures. The Company believes that such non-GAAP financial measures provide investors with information useful in understanding the Company’s financial performance. Readers of this release, however, are urged to review these non-GAAP financial measures in conjunction with the GAAP results as reported. These non-GAAP financial measures are detailed as supplemental tables and include “Net Interest Margin, tax equivalent,” “Tangible Book Value per Common Share,” and “Common Equity Tier 1 Capital to Risk Weighted Assets”. While the Company believes these non-GAAP financial measures provide investors with a broader understanding of the capital adequacy, funding profile and financial trends of the Company, this information should be considered as supplemental in nature and not as a substitute to the related financial information prepared in accordance with GAAP. These non-GAAP financial measures may also differ from the similar measures presented by other companies. Forward Looking Statements: This document may contain certain forward-looking statements about First Mid Bancshares, Inc. (“First Mid”) and LINCO Bancshares, Inc., a Missouri corporation (“LINCO”), such as discussions of First Mid’s and LINCO’s pricing and fee trends, credit quality and outlook, liquidity, new business results, expansion plans, anticipated expenses and planned schedules. First Mid and LINCO intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1955. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of First Mid and LINCO, are identified by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions. Actual results could differ materially from the results indicated by these statements because the realization of those results is subject to many risks and uncertainties, including, among other things, the possibility that any of the anticipated benefits of the proposed transactions between First Mid and LINCO will not be realized or will not be realized within the expected time period; the risk that integration of the operations of LINCO with First Mid will be materially delayed or will be more costly or difficult than expected; the inability to complete the proposed transactions due to the failure to obtain the required stockholder approval; the failure to satisfy other conditions to completion of the proposed transactions; the failure of the proposed transactions to close for any other reason; the effect of the announcement of the transaction on customer relationships and operating results; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; changes in interest rates; general economic conditions and those in the market areas of First Mid and LINCO; legislative/regulatory changes; monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Federal Reserve Board; the quality or composition of First Mid’s and LINCO’s loan or investment portfolios and the valuation of those investment portfolios; demand for loan products; deposit flows; competition, demand for financial services in the market areas of First Mid and LINCO; accounting principles, policies and guidelines; the severity, magnitude and duration of COVID-19 pandemic, the direct and indirect impact of such pandemic, including responses to the pandemic by the government, commercial customers' businesses, the disruption of global, national, state and local economies associated with the COVID-19 pandemic, which could affect First Mid’s and LINCO’s liquidity and capital positions, impair the ability of First Mid’s and LINCO’s borrowers to repay outstanding loans, impair collateral values, and further increase the allowance for credit losses, and the impact of the COVID-19 pandemic on First Mid’s and LINCO’s financial results, including possible lost revenue and increased expenses (including cost of capital), as well as possible goodwill impairment charges. Additional information concerning First Mid, including additional factors and risks that could materially affect First Mid’s financial results, are included in First Mid’s filings with the SEC, including its Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date they are made. Except as required under the federal securities laws or the rules and regulations of the SEC, we do not undertake any obligation to update or review any forward-looking information, whether as a result of new information, future events or otherwise. Investor Contact: Aaron HoltVP, Shareholder Relations217-258-0463 aholt@firstmid.com Matt SmithChief Financial Officer217-258-1528msmith@firstmid.com – Tables Follow – FIRST MID BANCSHARES, INC.Condensed Consolidated Balance Sheets(In thousands, unaudited) As of December 31, September 30, December 31, 2020 2020 2019 Assets Cash and cash equivalents $417,281 $232,385 $85,080 Investment securities 887,169 750,122 760,215 Loans (including loans held for sale) 3,138,419 3,236,247 2,695,347 Less allowance for loan losses (41,910) (41,915) (26,911)Net loans 3,096,509 3,194,332 2,668,436 Premises and equipment, net 58,206 59,356 59,491 Goodwill and intangibles, net 128,120 129,287 133,257 Bank owned life insurance 68,955 68,519 67,225 Other assets 70,108 75,127 65,722 Total assets $4,726,348 $4,509,128 $3,839,426 Liabilities and Stockholders' Equity Deposits: Non-interest bearing $936,926 $837,602 $633,331 Interest bearing 2,755,858 2,782,234 2,284,035 Total deposits 3,692,784 3,619,836 2,917,366 Repurchase agreement with customers 206,937 170,345 208,109 Other borrowings 93,969 93,954 118,895 Junior subordinated debentures 19,027 18,985 18,858 Subordinated debt 94,253 - - Other liabilities 51,150 44,999 49,589 Total liabilities 4,158,120 3,948,119 3,312,817 Total stockholders' equity 568,228 561,009 526,609 Total liabilities and stockholders' equity$4,726,348 $4,509,128 $3,839,426 FIRST MID BANCSHARES, INC.Condensed Consolidated Statements of Income(In thousands, except per share data, unaudited) Three Months Ended Twelve Months Ended December 31, December 31, 2020 2019 2020 2019Interest income: Interest and fees on loans$33,254 $31,206 $126,814 $126,825Interest on investment securities 4,226 5,101 16,966 21,043Interest on federal funds sold & other deposits 90 214 361 1,853Total interest income 37,570 36,521 144,141 149,721Interest expense: Interest on deposits 2,617 4,447 12,751 18,939Interest on securities sold under agreements to repurchase 68 240 488 911Interest on other borrowings 371 610 1,877 2,721Interest on jr. subordinated debentures 143 240 682 1,476Interest on subordinated debt 931 0 931 0Total interest expense 4,130 5,537 16,729 24,047Net interest income 33,440 30,984 127,412 125,674Provision for loan losses 603 2,737 16,103 6,433Net interest income after provision for loan 32,837 28,247 111,309 119,241Non-interest income: Wealth management revenues 5,232 5,027 16,153 15,570Insurance commissions 3,477 3,361 17,477 16,029Service charges 1,527 1,985 5,862 7,837Securities gains, net 193 479 1,106 802Mortgage banking revenues 1,870 579 5,075 1,746ATM/debit card revenue 2,369 2,100 8,962 8,491Other 879 1,342 4,885 5,542Total non-interest income 15,547 14,873 59,520 56,017Non-interest expense: Salaries and employee benefits 19,151 15,942 66,452 62,578Net occupancy and equipment expense 3,962 4,305 16,708 17,680Net other real estate owned (income) expense (20) 30 42 443FDIC insurance 458 (170) 1,309 219Amortization of intangible assets 1,200 1,296 5,062 5,848Stationary and supplies 275 269 1,080 1,104Legal and professional expense 1,220 1,451 5,427 5,164Marketing and donations 434 573 1,616 2,031Other 3,651 3,905 13,391 16,925Total non-interest expense 30,331 27,601 111,087 111,992Income before income taxes 18,053 15,519 59,742 63,266Income taxes 4,484 3,543 14,472 15,323Net income$13,569 $11,976 $45,270 $47,943 Per Share Information Basic earnings per common share$0.81 $0.72 $2.71 $2.88Diluted earnings per common share 0.81 0.72 2.70 2.87Dividends per common share 0.41 0.40 0.81 0.76 Weighted average shares outstanding 16,735,926 16,667,370 16,716,880 16,675,269Diluted weighted average shares outstanding 16,779,129 16,699,876 16,762,856 16,709,476 FIRST MID BANCSHARES, INC.Condensed Consolidated Statements of Income(In thousands, except per share data, unaudited) For the Quarter Ended December 31, September 30, June 30, March 31, December 31, 2020 2020 2020 2020 2019 Interest income: Interest and fees on loans$33,254 $32,151 $31,382 $30,027 $31,206 Interest on investment securities 4,226 4,074 4,077 4,589 5,101 Interest on federal funds sold & other deposits 90 70 76 125 214 Total interest income 37,570 36,295 35,535 34,741 36,521 Interest expense: Interest on deposits 2,617 3,168 3,105 3,861 4,447 Interest on securities sold under agreements to repurchase 68 68 158 194 240 Interest on other borrowings 371 395 516 595 610 Interest on jr. subordinated debentures 143 147 174 218 240 Interest on subordinated debt 931 - - - - Total interest expense 4,130 3,778 3,953 4,868 5,537 Net interest income 33,440 32,517 31,582 29,873 30,984 Provision for loan losses 603 3,883 6,136 5,481 2,737 Net interest income after provision for loan 32,837 28,634 25,446 24,392 28,247 Non-interest income: Wealth management revenues 5,232 3,468 3,827 3,626 5,027 Insurance commissions 3,477 3,291 4,088 6,621 3,361 Service charges 1,527 1,446 1,111 1,778 1,985 Securities gains, net 193 95 287 531 479 Mortgage banking revenues 1,870 1,661 1,236 308 579 ATM/debit card revenue 2,369 2,367 2,239 1,987 2,100 Other 879 1,250 1,097 1,659 1,342 Total non-interest income 15,547 13,578 13,885 16,510 14,873 Non-interest expense: Salaries and employee benefits 19,151 15,346 15,455 16,500 15,942 Net occupancy and equipment expense 3,962 4,363 4,141 4,242 4,305 Net other real estate owned (income) expense (20) 110 (2) (46) 30 FDIC insurance 458 469 289 93 (170)Amortization of intangible assets 1,200 1,277 1,290 1,295 1,296 Stationary and supplies 275 262 275 268 269 Legal and professional expense 1,220 1,320 1,489 1,398 1,451 Marketing and donations 434 387 314 481 573 Other 3,651 3,393 2,847 3,500 3,905 Total non-interest expense 30,331 26,927 26,098 27,731 27,601 Income before income taxes 18,053 15,285 13,233 13,171 15,519 Income taxes 4,484 3,720 3,096 3,172 3,543 Net income$13,569 $11,565 $10,137 $9,999 $11,976 FIRST MID BANCSHARES, INC.Consolidated Financial Highlights and Ratios(Dollars in thousands, except per share data)(Unaudited) As of and for the Quarter Ended December 31, September 30,June 30, March 31, December 31, 2020 2020 2020 2020 2019 Loan Portfolio Construction and land development $122,479 $167,515 $180,934 $123,326 $94,142 Farm real estate loans 254,341 256,230 251,382 242,891 240,241 1-4 Family residential properties 325,762 339,172 342,036 325,128 336,427 Multifamily residential properties 189,632 139,255 141,015 139,734 153,948 Commercial real estate 1,174,300 1,177,571 1,123,540 1,002,868 995,702 Loans secured by real estate 2,066,514 2,079,743 2,038,907 1,833,947 1,820,460 Agricultural operating loans 137,352 141,074 149,043 139,136 136,124 Commercial and industrial loans 738,313 807,668 811,169 565,789 528,973 Consumer loans 78,002 80,348 82,084 82,104 83,183 All other loans 118,238 127,414 124,059 123,322 126,607 Total loans 3,138,419 3,236,247 3,205,262 2,744,298 2,695,347 Deposit Portfolio Non-interest bearing demand deposits $936,926 $837,602 $817,623 $642,384 $633,331 Interest bearing demand deposits 1,031,183 1,053,691 938,710 827,387 850,956 Savings deposits 499,427 485,241 474,545 441,998 428,778 Money Market 748,179 736,262 625,361 441,381 419,801 Time deposits 477,069 507,040 529,588 555,477 584,500 Total deposits 3,692,784 3,619,836 3,385,827 2,908,627 2,917,366 Asset Quality Non-performing loans $28,123 $22,439 $23,096 $24,463 $27,818 Non-performing assets 30,616 24,712 25,397 27,306 31,538 Net charge-offs 608 349 631 1,188 2,567 Allowance for loan losses to non-performing loans 149.02% 186.80% 166.18% 134.39% 96.74%Allowance for loan losses to total loans outstanding1.41%1 1.41%1 1.30%1 1.20% 1.00%Nonperforming loans to total loans 0.90% 0.69% 0.72% 0.89% 1.03%Nonperforming assets to total assets 0.65% 0.55% 0.57% 0.71% 0.82% Common Share Data Common shares outstanding 16,741,208 16,731,684 16,728,190 16,702,484 16,673,480 Book value per common share $33.94 $33.53 $32.84 $31.91 $31.58 Tangible book value per common share 26.29 25.80 25.02 24.00 23.59 Market price of stock 33.66 24.95 26.23 23.74 35.25 Key Performance Ratios and Metrics End of period earning assets $4,367,717 $4,130,186 $4,093,511 $3,492,271 $3,464,144 Average earning assets 4,238,388 4,113,846 3,942,832 3,451,123 3,464,200 Average rate on average earning assets (tax equivalent) 3.58% 3.56% 3.68% 4.11% 4.24%Average rate on cost of funds 0.41% 0.39% 0.43% 0.60% 0.67%Net interest margin (tax equivalent) 3.17% 3.17% 3.25% 3.51% 3.57%Return on average assets 1.18% 1.03% 0.94% 1.05% 1.25%Return on average common equity 9.66% 8.31% 7.47% 7.48% 9.17%Efficiency ratio (tax equivalent) 2 59.02% 54.85% 54.27% 57.14% 57.23%Full-time equivalent employees 824 816 828 835 827 1 Excludes Payment Protection Program loans. 2 Represents non-interest expense divided by the sum of fully tax equivalent net interest income and non-interest income. Non-interest expense adjustments exclude foreclosed property expense and amortization of intangibles. Net-interest income includes tax equivalent adjustments and non-interest income excludes gains and losses on the sale of investment securities. FIRST MID BANCSHARES, INC.Net Interest Margin(In thousands, unaudited) For the Quarter Ended December 2020 QTD Average Average Balance Interest RateINTEREST EARNING ASSETS Interest bearing deposits$236,894 $75 0.13%Federal funds sold 1,304 - 0.00%Certificates of deposits investments 2,695 15 2.21%Investment Securities: Taxable (total less municipals) 581,245 2,647 1.82%Tax-exempt (Municipals) 240,398 1,997 3.32%Loans (net of unearned income) 3,175,852 33,436 4.19% Total interest earning assets 4,238,388 38,170 3.58% NONEARNING ASSETS Cash and due from banks 86,239 Premises and equipment 58,740 Other nonearning assets 258,129 Allowance for loan losses (43,026) Total assets$4,598,470 INTEREST BEARING LIABILITIES Demand deposits$1,743,053 $900 0.21%Savings deposits 494,802 107 0.09%Time deposits 491,046 1,610 1.30%Total interest bearing deposits 2,728,901 2,617 0.38%Repurchase agreements 189,686 68 0.14%FHLB advances 93,959 371 1.57%Federal funds purchased 0 0 0.00%Subordinated debt 89,128 931 4.16%Jr. subordinated debentures 18,999 143 2.99%Other borrowings 0 0 0.00%Total borrowings 391,772 1,513 1.54%Total interest bearing liabilities 3,120,673 4,130 0.53% NONINTEREST BEARING LIABILITIES Demand deposits 867,035 Average cost of funds0.41%Other liabilities 48,684 Stockholders' equity 562,078 Total liabilities & stockholders' equity$4,598,470 Net Interest Earnings / Spread $34,040 3.05% Impact of Non-Interest Bearing Funds 0.12% Tax effected yield on interest earning assets 3.17% FIRST MID BANCSHARES, INC.Reconciliation of Non-GAAP Financial Measures(In thousands, unaudited) As of and for the Quarter Ended December 31, September 30,June 30, March 31, December 31, 2020 2020 2020 2020 2019 Net interest income as reported $33,440 $32,517 $31,582 $29,873 $30,984 Net interest income, (tax equivalent) 34,040 33,084 32,118 30,393 31,517 Average earning assets 4,238,388 4,113,846 3,942,832 3,451,123 3,464,200 Net interest margin (tax equivalent) 1 3.17% 3.17% 3.25% 3.51% 3.57% Common stockholder's equity $568,228 $561,009 $549,273 $533,051 $526,609 Goodwill and intangibles, net 128,120 129,287 130,656 132,199 133,257 Common shares outstanding 16,741 16,732 16,728 16,702 16,673 Tangible Book Value per common share $26.29 $25.80 $25.02 $24.00 $23.59 Common equity tier 1 capital $439,299 $431,342 $417,326 $410,565 $398,536 Risk weighted assets 3,132,049 3,101,591 3,101,449 2,854,102 2,822,648 Common equity tier 1 capital to risk weighted assets 2 14.03% 13.91% 13.46% 14.39% 14.12% 1 Annualized and calculated on a tax equivalent basis where interest earned on tax-exempt securities and loans is adjusted to an amount comparable to interest subject to normal income taxes assuming a federal tax rate of 21% and includes the impact of non-interest bearing funds. 2 Defined as total common equity adjusted for gains/(losses) less goodwill and intangibles divided by risk weighted assets as of period end.

First Mid Bancshares, Inc. Announces Branch Optimization Plan
04 Dec, 2020 FinancialContent
Is First Mid Bancshares, Inc. (FMBH) A Good Stock To Buy?
27 Nov, 2020 Yahoo! Finance

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First Mid Bancshares, Inc. Announces Third Quarter 2020 Results
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First Mid Bancshares, Inc (FMBH) is a NASDAQ Common Stock listed in , ,

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