FIRST MID BANCSHARES, INC. FMBH
First Mid Bancshares, Inc. (the "Company"), is a financial holding company. The Company is engaged in the business of banking through its wholly owned subsidiary, First Mid Bank & Trust, N.A. ("First Mid Bank"). The Company offers insurance products and services to customers through its wholly owned subsidiary, First Mid Insurance Group, Inc. ("First Mid Insurance"). The Company offers trust, farm services, investment services, and retirement planning through its wholly owned subsidiary, First Mid Wealth Management Company. The Company also wholly owns a captive insurance company, First Mid Captive, Inc. Through First Mid Bank, the Company owns an investment subsidiary, First Mid Investments, Inc. In addition, the Company wholly owns five statutory business trusts, First Mid-Illinois Statutory Trust II ("First Mid Trust II"), Clover Leaf Statutory Trust I ("CLST Trust"), FBTC Statutory Trust I ("FBTCST I"), Blackhawk Statutory Trust I (BHST I), and Blackhawk Statutory Trust II (BHST II) all of which are unconsolidated subsidiaries of the Company. On August 15, 2023, the Company acquired Blackhawk Bank, which was merged into First Mid Bank on December 1, 2023. During the quarter ended September 30, 2024, the Company acquired Mid Rivers Insurance Group, Inc. which was subsequently merged into First Mid Insurance.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $373.0M | $357.4M | $300.2M | $215.9M | $183.0M | $144.1M | $149.7M | $124.6M | $99.6M | $75.5M |
| Interest expense | $256.2M | $228.7M | $193.5M | $184.3M | $15.3M | $16.7M | $24.0M | $12.8M | $6.5M | $4.3M |
| Pre-tax income | $117.0M | $104.4M | $88.4M | $91.3M | $66.8M | $59.7M | $63.3M | $48.5M | $41.7M | $33.8M |
| Income tax | $25.3M | $25.5M | $19.5M | $18.3M | $15.3M | $14.5M | $15.3M | $11.9M | $15.0M | $11.9M |
| Net income | $91.7M | $78.9M | $68.9M | $73.0M | $51.5M | $45.3M | $47.9M | $36.6M | $26.7M | $21.8M |
| EPS, basic | 3.84 | 3.31 | 3.17 | 3.62 | 2.88 | 2.71 | 2.88 | 2.53 | 2.13 | 2.07 |
| EPS, diluted | 3.83 | 3.30 | 3.15 | 3.60 | 2.87 | 2.70 | 2.87 | 2.52 | 2.13 | 2.05 |
| Shares, diluted (wtd. avg.) | 24.0M | 23.9M | 21.9M | 20.2M | 17.9M | 16.8M | 16.7M | 14.5M | 12.5M | 10.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | — | — | — | — | — | $85.1M | $141.4M | $88.9M | $175.9M |
| Short-term investments | $1.08B | $1.06B | $1.17B | $1.22B | $1.42B | $879.2M | $686.0M | $692.3M | $578.6M | $619.8M |
| Property, plant and equipment | $90.8M | $100.2M | $101.4M | $90.5M | $81.5M | $58.2M | $59.5M | $59.1M | $38.3M | $40.3M |
| Goodwill | $203.4M | $203.4M | $196.5M | $140.4M | $111.9M | $105.0M | $105.0M | $105.3M | $60.1M | $57.8M |
| Other intangibles | $49.6M | $58.5M | $67.8M | $29.5M | $29.5M | $23.1M | $28.3M | $33.8M | $10.7M | $12.8M |
| Total assets | $7.97B | $7.52B | $7.59B | $6.74B | $5.99B | $4.73B | $3.84B | $3.84B | $2.84B | $2.88B |
| Short-term debt | — | — | — | — | — | — | — | — | $0 | $4.0M |
| Long-term debt | $354.5M | — | — | — | — | — | $0 | $7.7M | $10.3M | $14.1M |
| Total liabilities | $7.01B | $6.67B | $6.79B | $6.11B | $5.35B | $4.16B | $3.31B | $3.36B | $2.53B | $2.60B |
| Retained earnings | $463.5M | $395.2M | $338.7M | $289.3M | $234.2M | $197.7M | $166.7M | $131.4M | $104.7M | $86.2M |
| Total equity | $958.7M | $846.4M | $793.2M | $633.2M | $633.9M | $568.2M | $526.6M | $475.9M | $308.0M | $280.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $130.9M | $124.4M | $72.4M | $65.8M | $69.6M | $63.5M | $62.8M | $42.2M | $46.2M | $27.4M |
| Depreciation and amortisation | $19.8M | $20.8M | $14.9M | $15.1M | $14.4M | $11.7M | $10.8M | $7.9M | $8.1M | $7.9M |
| Stock-based compensation | $2.6M | $2.4M | $1.7M | $1.8M | $1.3M | $774.0K | $453.0K | $294.0K | $954.0K | $384.0K |
| Capital expenditure | $6.8M | $4.9M | $3.6M | $5.0M | $3.7M | $2.5M | $4.1M | $3.1M | $1.3M | $695.0K |
| Investing cash flow | -$302.6M | -$7.5M | $474.4M | -$178.7M | -$482.5M | -$562.4M | -$32.1M | -$11.0M | -$56.0M | -$78.1M |
| Financing cash flow | $305.5M | -$138.8M | -$556.2M | $96.7M | $164.2M | $831.1M | -$87.1M | $21.3M | -$77.2M | $110.8M |
| Dividends paid | $23.4M | $22.4M | $19.6M | $17.8M | $14.7M | $12.8M | $11.9M | $8.8M | $7.2M | $5.3M |
| Buybacks | $724.0K | $659.0K | $465.0K | $340.0K | $326.0K | $213.0K | $1.3M | $138.0K | $797.0K | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-080847.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $75.5M | $99.6M | $124.6M | $149.7M | $144.1M | $183.0M | $215.9M | $300.2M | $357.4M | $373.0M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | $21.8M | $26.7M | $36.6M | $47.9M | $45.3M | $51.5M | $73.0M | $68.9M | $78.9M | $91.7M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation Item 2.03
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- New debt or obligation Item 2.03
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $98.57B | 19.6x | 7.8% |
| FITB | FIFTH THIRD BANCORP | $48.05B | 15.0x | -5.0% |
| STT | STATE STREET CORP | $46.10B | 17.9x | 7.3% |
| MTB | M&T BANK CORP | $32.01B | 13.0x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $30.72B | 19.2x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $27.44B | 16.9x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $27.41B | 14.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.97B | 13.8x | 2.4% |