First Mid Bancshares, Inc. reported a net income of $68.1 million for the nine months ended September 30, 2025, an increase from $59.7 million in the same period of 2024. The diluted net income per share rose to $2.84 from $2.49 year-over-year. The company's total interest income increased to $277.1 million, up from $267.5 million, driven by higher interest income from loans, which rose to $251.7 million compared to $239.2 million in the prior year. Net interest income after provision for credit losses was $182.1 million, reflecting a significant increase from $167.8 million in the previous year.

The company experienced a notable increase in total assets, which reached $7.8 billion as of September 30, 2025, compared to $7.5 billion at the end of 2024. This growth was attributed to a $149.9 million increase in net loan balances and a $155.9 million rise in cash and cash equivalents. The loan portfolio composition showed a shift, with commercial real estate loans comprising 41.9% of total loans, while agricultural loans increased to $311.6 million, reflecting a growing demand in that sector.

Strategically, First Mid Bancshares completed the acquisition of a portion of AAdvantage Insurance Group LLC's customer list for $2.8 million, enhancing its insurance business. The company also reported a significant increase in insurance commissions, which rose to $24.9 million from $21.7 million, largely due to the acquisition of Mid Rivers Insurance Group in 2024. The total non-interest income for the nine months increased to $71.4 million, up from $69.9 million, despite some losses on investment securities.

Operationally, First Mid Bancshares maintained a strong capital position, with a total capital ratio of 15.99% and a Tier 1 capital ratio of 13.53%, both exceeding regulatory requirements. The company’s allowance for credit losses stood at $72.9 million, representing 1.25% of total loans, with nonperforming loans totaling $22.2 million. The company anticipates continued growth and stability, supported by its strategic initiatives and a favorable economic environment, while remaining vigilant to potential risks in the agricultural sector and broader economic conditions.

About FIRST MID BANCSHARES, INC.

First Mid Bancshares, Inc. is a financial holding company operating through its subsidiary, First Mid Bank & Trust, offering banking, insurance, trust, and wealth management services. It serves community markets across Illinois, Missouri, Wisconsin, and Texas, focusing on organic growth and strategic acquisitions. The company emphasizes risk management, employee development, and community engagement to deliver value to customers, shareholders, and local communities.

This description was generated via AI from an annual report. Updated 8 months ago.

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