First Mid Bancshares, Inc. (FMBH) 10-Year Financial Performance & Capital Metrics

FMBH • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingMidwest Community Banks

AboutFirst 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, and consumer loans; and other loans comprising loans to municipalities to support community projects, such as infrastructure improvements or equipment purchases. It also offers wealth management services, which include estate planning, investment, and farm management and brokerage services for individuals; and employee benefit services for business enterprises. In addition, the company provides property and casualty, senior insurance products, and group medical insurance for businesses; and personal lines insurance to individuals. It operates through a network of 52 banking centers in Illinois and 14 offices in Missouri, as well as a loan production office in Indiana. 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.Show more

Net Interest Income $229M +18.2%
Total Revenue $447M +17.2%
Net Income $79M +14.5%
Return on Equity 9.62% -0.4%
Net Interest Margin 3.04% +19.3%
Efficiency Ratio 46.64% -1.4%
ROA 1.04% +8.6%
Equity / Assets 11.26% +7.7%
Book Value per Share 35.42 -2.3%
Tangible BV/Share 24.46 +1.1%
Debt/Equity 0.68 -13.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 46.6% efficiency ratio
✓10 consecutive years of dividend growth
✓Well capitalized: 11.3% equity/assets
✓Healthy dividend yield of 2.3%
✓Trading near 52-week high
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y19.86%

5Y17.2%

3Y21.45%

TTM-

Profit (Net Income) CAGR

10Y17.7%

5Y10.48%

3Y15.29%

TTM12.13%

EPS CAGR

10Y5.96%

5Y2.83%

3Y4.76%

TTM12.31%

ROCE

10Y Avg9.05%

5Y Avg7.91%

3Y Avg7.98%

Latest8.36%

Peer Comparison

Midwest Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFSLTFS Financial Corporation	3.97B	14.13	44.16	4.37%	11.49%	4.41%	1.15%	2.57
ASBAssociated Banc-Corp	4.43B	26.70	37.08	4.42%	5.85%	3.62%	12.08%	0.69
ASBAAssociated Banc-Corp	4.11B	24.78	30.98	-6.56%	12.92%	3.77%	13.02%	0.17
BANFBancFirst Corporation	3.81B	114.30	17.75	12.28%	23.81%	13.33%	5.89%	0.05
SYBTStock Yards Bancorp, Inc.	2.03B	68.83	17.69	15.84%	22.86%	12.99%	6.56%	0.53
PRKPark National Corporation	2.63B	163.76	17.57	14.4%	23.46%	13.22%	6.44%	0.24
NICNicolet Bankshares, Inc.	1.97B	133.08	16.53	24.6%	23.88%	11.4%	5.95%	0.14
LKFNLakeland Financial Corporation	1.52B	59.47	16.38	9.38%	21.74%	13.06%	6.18%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	55.75M	71.2M	93.07M	111.74M	125.67M	127.41M	167.75M	184.28M	193.46M	228.73M
NII Growth %	0.08%	0.28%	0.31%	0.2%	0.12%	0.01%	0.32%	0.1%	0.05%	0.18%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	59.25M	75.5M	99.56M	124.56M	149.72M	144.14M	183.01M	215.89M	300.17M	357.38M
Interest Expense	3.5M	4.29M	6.48M	12.83M	24.05M	16.73M	15.26M	31.61M	106.7M	128.65M
Loan Loss Provision	1.32M	2.83M	7.46M	8.67M	6.43M	16.1M	15.15M	4.81M	6.1M	5.63M
Non-Interest Income+	20.54M	24.92M	27.94M	32.44M	52.53M	57.23M	66.65M	70.38M	81.46M	89.9M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	79.8M	100.41M	127.5M	157.01M	202.25M	201.37M	249.66M	286.27M	381.63M	447.28M
Revenue Growth %	0.09%	0.26%	0.27%	0.23%	0.29%	-0%	0.24%	0.15%	0.33%	0.17%
Non-Interest Expense	49.25M	59.52M	71.83M	87.01M	108.5M	108.8M	152.46M	158.56M	180.42M	208.6M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	25.73M	33.78M	41.73M	48.51M	63.27M	59.74M	66.79M	91.29M	88.41M	104.4M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.04%	0.31%	0.24%	0.16%	0.3%	-0.06%	0.12%	0.37%	-0.03%	0.18%
Pretax Income+	25.73M	33.78M	41.73M	48.51M	63.27M	59.74M	66.79M	91.29M	88.41M	104.4M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	9.22M	11.94M	15.04M	11.9M	15.32M	14.47M	15.3M	18.34M	19.47M	25.5M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	16.51M	21.84M	26.68M	36.6M	47.94M	45.27M	51.49M	72.95M	68.94M	78.9M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.07%	0.32%	0.22%	0.37%	0.31%	-0.06%	0.14%	0.42%	-0.06%	0.14%
Net Income (Continuing)	16.51M	21.84M	26.68M	36.6M	47.94M	45.27M	51.49M	72.95M	68.94M	78.9M
EPS (Diluted)+	1.81	2.05	2.13	2.52	2.87	2.70	2.87	3.60	3.15	3.30
EPS Growth %	-0.02%	0.13%	0.04%	0.18%	0.14%	-0.06%	0.06%	0.25%	-0.13%	0.05%
EPS (Basic)	1.84	2.07	2.13	2.53	2.88	2.71	2.88	3.62	3.17	3.31
Diluted Shares Outstanding	9.12M	10.65M	12.54M	14.5M	16.71M	16.76M	17.94M	20.24M	21.87M	23.9M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	140.29M	151.65M	90.07M	148.3M	88.78M	418.67M	169.69M	146.28M	135.55M	124.64M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.87B	2.5B	2.57B	3.38B	3.42B	3.98B	5.37B	5.99B	6.69B	6.67B
Investments Growth %	0.26%	0.34%	0.03%	0.32%	0.01%	0.16%	0.35%	0.12%	0.12%	-0%
Long-Term Investments	1.35B	1.88B	1.99B	2.69B	2.74B	3.1B	3.95B	4.77B	5.52B	5.61B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	41.01M	57.79M	60.15M	105.28M	104.99M	104.99M	111.85M	140.41M	196.46M	203.39M
Intangible Assets	9M	12.83M	10.68M	33.82M	28.27M	23.13M	29.52M	29.48M	67.77M	58.52M
PP&E (Net)	31.34M	40.29M	38.27M	59.12M	76.5M	75.42M	96.6M	106.25M	115.7M	114.09M
Other Assets	13.41M	108.1M	64.1M	96.3M	101.29M	103.88M	182.03M	231.81M	276.34M	248.58M
Total Current Assets	667.23M	782.05M	679.48M	857.46M	789.99M	1.32B	1.61B	1.39B	1.34B	1.23B
Total Non-Current Assets	1.45B	2.1B	2.16B	2.98B	3.05B	3.41B	4.38B	5.35B	6.24B	6.29B
Total Assets+	2.11B	2.88B	2.84B	3.84B	3.84B	4.73B	5.99B	6.74B	7.59B	7.52B
Asset Growth %	0.32%	0.36%	-0.01%	0.35%	-0%	0.23%	0.27%	0.13%	0.12%	-0.01%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	356K	535K	602K	1.76M	2.26M	2.35M	1.35M	3.35M	5.44M	5.28M
Total Debt+	169.46M	267.84M	249.74M	348.8M	362.87M	431.54M	361.63M	816.44M	622.94M	572.58M
Net Debt	29.17M	116.19M	159.67M	200.5M	274.09M	12.87M	191.94M	670.16M	487.38M	447.94M
Long-Term Debt	40.62M	82.07M	94.35M	156.47M	137.75M	207.25M	200.04M	578.99M	394.6M	354.27M
Short-Term Debt	128.84M	185.76M	155.39M	192.33M	208.11M	206.94M	146.27M	221.41M	213.72M	204.12M
Other Liabilities	6.55M	5.6M	8.6M	24.63M	30.32M	31.45M	33.23M	34.28M	41.56M	38.38M
Total Current Liabilities	1.86B	2.52B	2.43B	3.18B	3.13B	3.9B	5.1B	5.48B	6.34B	6.27B
Total Non-Current Liabilities	47.17M	87.68M	102.95M	181.1M	185.08M	256.05M	248.59M	629.3M	450.77M	406.85M
Total Liabilities	1.91B	2.6B	2.53B	3.36B	3.31B	4.16B	5.35B	6.11B	6.79B	6.67B
Total Equity+	205.01M	280.67M	307.96M	475.86M	526.61M	568.23M	633.89M	633.15M	793.2M	846.39M
Equity Growth %	0.24%	0.37%	0.1%	0.55%	0.11%	0.08%	0.12%	-0%	0.25%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.09%	0.09%	0.09%	0.1%	0.08%	0.09%	0.12%	0.1%	0.1%
Book Value per Share	22.47	26.34	24.56	32.82	31.52	33.90	35.34	31.28	36.27	35.42
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	38.02M	54.08M	54.92M	70.88M	71.15M	71.45M	76.83M	86.37M	99.92M	100.26M
Additional Paid-in Capital	79.63M	158.67M	163.6M	293.94M	295.93M	297.81M	340.42M	427M	509.31M	512.81M
Retained Earnings	71.71M	86.22M	104.68M	131.39M	166.67M	197.73M	234.16M	289.28M	338.66M	395.19M
Accumulated OCI	723K	-5.76M	-2.3M	-6.47M	8.36M	17.09M	-831K	-151.51M	-136.43M	-142.38M
Treasury Stock	-15.71M	-15.74M	-16.48M	-16.63M	-18.25M	-18.83M	-19.21M	-20.05M	-20.89M	-22.24M
Preferred Stock	27.4M	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	22M	27.42M	46.15M	42.17M	62.83M	63.54M	69.6M	65.82M	72.42M	124.42M
Operating CF Growth %	0.24%	0.25%	0.68%	-0.09%	0.49%	0.01%	0.1%	-0.05%	0.1%	0.72%
Net Income	16.51M	21.84M	26.68M	36.6M	47.94M	45.27M	51.49M	72.95M	68.94M	78.9M
Depreciation & Amortization	4.44M	7.94M	8.13M	7.88M	10.84M	11.72M	14.45M	15.06M	14.9M	20.78M
Deferred Taxes	20K	-2.39M	2.5M	4.28M	1.89M	-4.96M	-3.35M	-2.23M	16.74M	590K
Other Non-Cash Items	2.06M	2.11M	8.37M	7.45M	2.73M	12.18M	16.43M	3.2M	-973K	534K
Working Capital Changes	-1.41M	-2.46M	-488K	-14.33M	-1.03M	-1.45M	-10.72M	-24.96M	-28.84M	21.27M
Cash from Investing+	10.37M	-78.06M	-55.96M	-10.96M	-32.07M	-562.42M	-482.5M	-178.69M	474.38M	-7.51M
Purchase of Investments	-303.69M	-266.5M	-183.32M	-38.85M	-188.61M	-506.46M	-692.23M	-12.75M	-1.46M	-20.16M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	276.66M	36.77M	0	56.39M	0	0	27.06M	67.32M	44.62M	-8.94M
Other Investing	-93.7M	-118.39M	-104.34M	-93.57M	-54.43M	-441.71M	-52.28M	-414.23M	-15.38M	-97.46M
Cash from Financing+	31.69M	110.75M	-77.22M	21.31M	-87.08M	831.08M	164.22M	96.69M	-556.17M	-138.76M
Dividends Paid	-5.49M	-6.56M	-7.23M	-8.79M	-11.86M	-12.81M	-14.72M	-17.83M	-19.56M	-22.37M
Share Repurchases	-1.07M	0	-797K	-138K	-1.29M	-213K	-326K	-340K	-465K	-659K
Stock Issued	28.22M	195K	4.4M	36.65M	655K	610K	1.94M	1.24M	1M	1.05M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	1000K	1000K	-313K	-1000K	1000K	-1000K	1000K	-1000K	-1000K
Other Financing	10.02M	94.06M	-85.84M	-6.09M	-50.54M	769.25M	212.42M	-220.27M	-336.01M	-76.16M
Net Change in Cash+	64.05M	60.12M	-87.02M	52.52M	-56.32M	332.2M	-248.68M	-16.17M	-9.37M	-21.85M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	51.73M	115.78M	175.9M	88.88M	141.4M	85.08M	417.28M	168.6M	152.43M	143.06M
Cash at End	115.78M	175.9M	88.88M	141.4M	85.08M	417.28M	168.6M	152.43M	143.06M	121.22M
Interest Paid	3.43M	4.11M	6.42M	11.67M	23.54M	16.64M	16.26M	29.61M	104.61M	128.81M
Income Taxes Paid	7.8M	13.13M	11.72M	9.64M	15.56M	18.62M	18.97M	22.99M	22.25M	0
Free Cash Flow+	20.24M	26.71M	44.88M	39.06M	58.73M	61.08M	65.89M	60.8M	68.78M	119.48M
FCF Growth %	0.22%	0.32%	0.68%	-0.13%	0.5%	0.04%	0.08%	-0.08%	0.13%	0.74%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.93%	8.99%	9.07%	9.34%	9.56%	8.27%	8.57%	11.52%	9.67%	9.62%
Return on Assets (ROA)	0.89%	0.87%	0.93%	1.1%	1.25%	1.06%	0.96%	1.15%	0.96%	1.04%
Net Interest Margin	2.64%	2.47%	3.28%	2.91%	3.27%	2.7%	2.8%	2.73%	2.55%	3.04%
Efficiency Ratio	61.72%	59.27%	56.34%	55.42%	53.65%	54.03%	61.07%	55.39%	47.28%	46.64%
Equity / Assets	9.7%	9.73%	10.84%	12.39%	13.72%	12.02%	10.59%	9.39%	10.46%	11.26%
Book Value / Share	22.47	26.34	24.56	32.82	31.52	33.9	35.34	31.28	36.27	35.42
NII Growth	8.29%	27.72%	30.71%	20.05%	12.47%	1.38%	31.66%	9.85%	4.98%	18.23%
Dividend Payout	21.12%	24.16%	27.09%	24.02%	24.74%	28.31%	28.59%	24.44%	28.37%	28.35%

Frequently Asked Questions

Valuation & Price

First Mid Bancshares, Inc. (FMBH) has a price-to-earnings (P/E) ratio of 12.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

First Mid Bancshares, Inc. (FMBH) grew revenue by 17.2% over the past year. This is strong growth.

Yes, First Mid Bancshares, Inc. (FMBH) is profitable, generating $87.2M in net income for fiscal year 2024 (17.6% net margin).

Dividend & Returns

Yes, First Mid Bancshares, Inc. (FMBH) pays a dividend with a yield of 2.26%. This makes it attractive for income-focused investors.

First Mid Bancshares, Inc. (FMBH) has a return on equity (ROE) of 9.6%. This is below average, suggesting room for improvement.

Industry Metrics

First Mid Bancshares, Inc. (FMBH) has a net interest margin (NIM) of 3.0%. This indicates healthy earnings from lending activities.

First Mid Bancshares, Inc. (FMBH) has an efficiency ratio of 46.6%. This is excellent, indicating strong cost control.

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