FIRST MID BANCSHARES, INC. Files 10-Q for Q1 2024

TL;DR

<b>FIRST MID BANCSHARES, INC. filed its Q1 2024 10-Q report</b>.

AI Summary

FIRST MID BANCSHARES, INC. (FMBH) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Filing is a 10-Q for the period ending March 31, 2024. The company's Central Index Key is 0000700565. Standard Industrial Classification is 6022 (State Commercial Banks). Incorporated in Delaware, with fiscal year ending December 31. Business and mailing address is 1515 Charleston Ave, Mattoon, IL 61938.

Why It Matters

For investors and stakeholders tracking FIRST MID BANCSHARES, INC., this filing contains several important signals. This 10-Q filing provides a quarterly update on the financial health and operations of First Mid Bancshares, Inc. Investors and analysts can use this report to assess the bank's performance, loan portfolio quality, and risk exposure in the current economic environment.

Risk Assessment

Risk Level: low — FIRST MID BANCSHARES, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags, indicating a routine disclosure.

Analyst Insight

Monitor future filings for trends in loan performance, net interest margin, and capital adequacy ratios.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-07 — Filing Date (Filed as of Date)
• 2023-12-31 — Previous Year End Date (Reference for financial data)
• 2024-01-01 — Current Quarter Start Date (Reference for financial data)

Key Players & Entities

• FIRST MID BANCSHARES, INC. (company) — Filer name
• 0000700565 (company) — Central Index Key
• 6022 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• 1231 (company) — Fiscal Year End
• 1934 Act (regulator) — SEC Act
• 001-36434 (company) — SEC File Number
• 24920048 (company) — Film Number

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q.
• 2024-05-07: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a snapshot of the company's financial condition and performance during the quarter.)

Central Index Key (CIK)

A unique identifier assigned to each entity that files with the SEC. (Helps in tracking filings and identifying specific companies.)

Standard Industrial Classification (SIC)

A system used to classify business establishments by the type of activity in which they are engaged. (Indicates the primary industry sector of the company.)

Key Financial Figures

• $4.00 — May 7, 2024, 23,896,252 common shares, $4.00 par value, were outstanding. PART I

Filing Documents

• fmbh-20240331.htm (10-Q) — 5818KB
• fmbh-ex31_1.htm (EX-31.1) — 13KB
• fmbh-ex31_2.htm (EX-31.2) — 13KB
• fmbh-ex32_1.htm (EX-32.1) — 5KB
• fmbh-ex32_2.htm (EX-32.2) — 5KB
• 0000950170-24-054010.txt (&nbsp;) — 24936KB
• fmbh-20240331.xsd (EX-101.SCH) — 2287KB
• fmbh-20240331_htm.xml (XML) — 7025KB

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS First Mid Bancshares, Inc. Condensed Consolida ted Balance Sheets (Unaudited) (In thousands, except share data) March 31, 2024 December 31, 2023 Assets Cash and due from banks: Non-interest bearing $ 81,006 $ 122,871 Interest bearing 274,680 11,211 Federal funds sold 15 8,982 Cash and cash equivalents 355,701 143,064 Certificates of deposit 3,745 1,470 Investment securities: Available-for-sale, at fair value (amortized cost of $ 1,342,603 and $ 1,363,721 at March 31, 2024 and December 31, 2023, respectively) 1,139,427 1,171,572 Held-to-maturity, at amortized cost (estimated fair value of $ 2,282 and $ 2,286 at March 31, 2024 and December 31, 2023, respectively) 2,282 2,286 Equity securities, at fair value 4,298 4,074 Loans held for sale 4,817 4,980 Loans 5,494,478 5,575,585 Less allowance for credit losses ( 67,936 ) ( 68,675 ) Net loans 5,426,542 5,506,910 Interest receivable 37,667 35,082 Other real estate owned 1,346 1,163 Premises and equipment, net 101,666 101,396 Goodwill, net 196,461 196,461 Intangible assets, net 64,238 67,770 Bank owned life insurance 167,247 166,125 Right of use lease assets 14,318 14,306 Deferred tax asset, net 69,876 70,067 Other assets 88,615 100,068 Total assets $ 7,678,246 $ 7,586,794 Liabilities and stockholders' equity Deposits: Non-interest bearing $ 1,448,299 $ 1,398,234 Interest bearing 4,794,637 4,725,425 Total deposits 6,242,936 6,123,659 Securities sold under agreements to repurchase 210,719 213,721 Interest payable 6,318 5,437 FHLB borrowings 238,761 263,787 Junior subordinated debentures, net 24,113 24,058 Subordinated debt, net 106,862 106,755 Lease liabilities 14,624 14,615 Other liabilities 35,961 41,558 Total liabilities 6,880,294 6,793,590 Stockholders' equi

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View this 10-Q filing on SEC EDGAR