First Mid Bancshares Files Q2 2024 10-Q

TL;DR

First Mid Bancshares (FMBH) filed its Q2 10-Q. Financials look steady.

AI Summary

First Mid Bancshares, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and position, including assets and liabilities. Key financial data points are presented for the reporting period and comparative periods.

Why It Matters

This filing provides investors and analysts with a detailed look at First Mid Bancshares' financial health and operational performance during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 2024-06-30 — Reporting Date (End of the second quarter for this filing.)
• 2023-12-31 — Prior Year End (Comparative period for financial data.)

Key Players & Entities

• FIRST MID BANCSHARES, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240807 (date) — Filing Date
• 0000700565 (company) — Central Index Key

FAQ

Key Financial Figures

• $4.00 — gust 7, 2024, 23,905,252 common shares, $4.00 par value, were outstanding. PART I

Filing Documents

• fmbh-20240630.htm (10-Q) — 6908KB
• fmbh-ex10_1.htm (EX-10.1) — 18KB
• 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
• 0000950170-24-092347.txt ( ) — 27537KB
• fmbh-20240630.xsd (EX-101.SCH) — 2340KB
• fmbh-20240630_htm.xml (XML) — 7735KB

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS First Mid Bancshares, Inc. Condensed Consolida ted Balance Sheets (Unaudited) (In thousands, except share data) June 30, 2024 December 31, 2023 Assets Cash and due from banks: Non-interest bearing $ 104,453 $ 122,871 Interest bearing 131,001 11,211 Federal funds sold 26 8,982 Cash and cash equivalents 235,480 143,064 Certificates of deposit 3,745 1,470 Investment securities: Available-for-sale, at fair value (amortized cost of $ 1,311,109 and $ 1,363,721 at June 30, 2024 and December 31, 2023, respectively) 1,110,650 1,171,572 Held-to-maturity, at amortized cost (estimated fair value of $ 2,277 and $ 2,286 at June 30, 2024 and December 31, 2023, respectively) 2,277 2,286 Equity securities, at fair value 4,258 4,074 Loans held for sale 7,764 4,980 Loans 5,552,853 5,575,585 Less allowance for credit losses ( 68,312 ) ( 68,675 ) Net loans 5,484,541 5,506,910 Interest receivable 37,326 35,082 Other real estate owned 1,454 1,163 Premises and equipment, net 101,583 101,396 Goodwill, net 196,461 196,461 Intangible assets, net 60,916 67,770 Bank owned life insurance 168,439 166,125 Right of use lease assets 14,981 14,306 Deferred tax asset, net 67,814 70,067 Other assets 83,371 100,068 Total assets $ 7,581,060 $ 7,586,794 Liabilities and stockholders' equity Deposits: Non-interest bearing $ 1,393,336 $ 1,398,234 Interest bearing 4,722,443 4,725,425 Total deposits 6,115,779 6,123,659 Securities sold under agreements to repurchase 205,955 213,721 Interest payable 5,415 5,437 FHLB borrowings 263,735 263,787 Junior subordinated debentures, net 24,169 24,058 Subordinated debt, net 103,029 106,755 Lease liabilities 15,286 14,615 Other liabilities 34,047 41,558 Total liabilities 6,767,415 6,793,590 Stockholders' equity

View Full Filing

View this 10-Q filing on SEC EDGAR