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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 owner and non-owner occupied, and consumer loans, as well as construction and land development, 1-4 family residential properties, and multifamily residential properties loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases. In addition, it offers wealth management services, which include estate planning and investment services to individuals; employee benefit services for businesses; and farm management and brokerage services. Further, the company provides property and casualty, senior insurance products, and group medical insurance for businesses; and personal lines insurance to individuals. 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 founded in 1865 and is headquartered in Mattoon, Illinois.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $342M | - | $92M | $124M | 9.6% | 7.4% | 16.3% |
| 2024 | $319M | - | $79M | $119M | 9.3% | 15.9% | 14.5% |
| 2023 | $275M | - | $69M | $69M | 8.7% | 8.0% | -5.5% |
| 2022 | $255M | - | $73M | $61M | 11.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 254.66 | 274.93 | 318.63 | 342.27 |
| Pretax Income | 91.29 | 88.41 | 104.40 | 117.05 |
| Tax Provision | 18.34 | 19.47 | 25.50 | 25.30 |
| Net Income | 72.95 | 68.94 | 78.90 | 91.75 |
| Net Income Common Stockholders | 72.95 | 68.94 | 78.90 | 91.75 |
| Interest Expense | 31.61 | 106.70 | 128.65 | 116.83 |
| Interest Income | 215.89 | 300.17 | 357.38 | 372.99 |
| Selling General And Administration | 103.40 | 111.31 | 131.01 | 141.44 |
| Normalized Income | 72.95 | 68.94 | 78.90 | 91.75 |
| Basic EPS | 3.62 | 3.17 | 3.31 | 0 |
| Diluted EPS | 3.60 | 3.15 | 3.30 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.20 | 0.22 | 0.24 | 0.22 |
| Net Income From Continuing Operation Net Minority Interest | 72.95 | 68.94 | 78.90 | 91.75 |
| Reconciled Depreciation | 15.06 | 14.90 | 20.78 | 19.77 |
| Net Interest Income | 184.28 | 193.46 | 228.73 | 256.17 |
| Net Income From Continuing And Discontinued Operation | 72.95 | 68.94 | 78.90 | 91.75 |
| Diluted Average Shares | 20.24 | 21.87 | 23.90 | 0 |
| Basic Average Shares | 20.17 | 21.78 | 23.80 | 0 |
| Diluted NI Availto Com Stockholders | 72.95 | 68.94 | 78.90 | 91.75 |
| Net Income Including Noncontrolling Interests | 72.95 | 68.94 | 78.90 | 91.75 |
| Net Income Continuous Operations | 72.95 | 68.94 | 78.90 | 91.75 |
| Gain On Sale Of Security | 0.03 | 3.38 | -0.43 | -2.51 |
| Depreciation Amortization Depletion Income Statement | 6.29 | 9.13 | 13.56 | 12.44 |
| Depreciation And Amortization In Income Statement | 6.29 | 9.13 | 13.56 | 12.44 |
| Amortization | 6.29 | 9.13 | 13.56 | 12.44 |
| Amortization Of Intangibles Income Statement | 6.29 | 9.13 | 13.56 | 12.44 |
| Selling And Marketing Expense | 3 | 3 | 3.42 | 3.35 |
| General And Administrative Expense | 100.40 | 108.30 | 127.60 | 138.09 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 1.80 | 3.34 | 3.46 | 3.48 |
| Salaries And Wages | 98.59 | 104.96 | 124.13 | 134.62 |
| Operating Revenue | 254.66 | 274.93 | 318.63 | 342.27 |
| Occupancy And Equipment | 24.26 | 26.95 | 30.41 | 36.58 |
| Professional Expense And Contract Services Expense | 7 | 7.38 | 12.94 | 10.75 |
| Other Non Interest Expense | 17.62 | 25.66 | 20.68 | 14.10 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| First Mid Bancshares, Inc.this co. | FMBH | $1.1B | 11.23 | 1.08 | 9.6% | - |
| Trupanion, Inc. | TRUP | $1.2B | 61.37 | 3.11 | 5.1% | 22.61 |
| Community Trust Bancorp, Inc. | CTBI | $1.2B | 11.39 | 1.36 | 11.5% | - |
| Tompkins Financial Corporation | TMP | $1.2B | 7.37 | 1.26 | 17.2% | - |
| Coastal Financial Corporation | CCB | $1.2B |
| 23.59 |
| 2.33 |
| 9.6% |
| - |
| Atlanticus Holdings Corporation | ATLC | $1.1B | 12.87 | 1.88 | 20.2% | - |
| Safety Insurance Group, Inc. | SAFT | $1.1B | 11.25 | 1.25 | 11.1% | - |
| Porch Group, Inc. | PRCH | $1.1B | - | -43.48 | -15.0% | 19.23 |
| Metropolitan Bank Holding Corp. | MCB | $1.1B | 10.96 | 1.20 | 9.6% | - |
| Peer Median | - | 11.39 | 1.31 | 10.3% | 20.92 | |