First Mid Bancshares Reports $45.6 Million Net Income for First Half of 2025

First Mid Bancshares, Inc. reported a net income of $45.6 million for the six months ended June 30, 2025, an increase from $40.2 million in the same period of 2024. The diluted net income per common share rose to $1.90 from $1.68 year-over-year. The company's total interest income for the first half of 2025 was $181 million, compared to $176.4 million in the prior year, driven by an increase in net interest income, which reached $123.3 million, up from $112.2 million. The net interest margin improved to 3.66%, reflecting higher yields on earning assets and lower rates on interest-bearing deposits.

In terms of operational changes, First Mid Bancshares experienced a significant increase in its loan portfolio, which grew to $5.8 billion as of June 30, 2025, compared to $5.7 billion at the end of 2024. The growth was primarily attributed to increases in construction and land development loans, as well as multifamily residential properties. The company also reported a rise in total deposits, which increased by $133.1 million during the first half of 2025, reflecting a strategic focus on enhancing its deposit base.

The company’s provision for credit losses was $4.2 million for the first half of 2025, compared to $726,000 in the same period of 2024, indicating a proactive approach to managing credit risk amid changing economic conditions. Nonperforming loans totaled $21.9 million, up from $19.1 million a year earlier, while the allowance for credit losses stood at $71.2 million, representing 1.23% of total loans. The company continues to monitor its credit quality closely, particularly in sectors such as agriculture and commercial real estate, which are sensitive to economic fluctuations.

Looking ahead, First Mid Bancshares remains optimistic about its growth trajectory, supported by a strong capital position with total capital to risk-weighted assets at 15.76% as of June 30, 2025. The company is well-capitalized under regulatory standards and is focused on maintaining its liquidity and capital adequacy. Additionally, the board has approved a new stock repurchase program, allowing for the repurchase of up to 1.2 million shares, which reflects confidence in the company's long-term value and commitment to returning capital to shareholders.