FMBH · First Mid Bancshares, Inc.

First Mid Bancshares delivered record quarterly earnings with GAAP net income of $26.3 million and diluted EPS of $1.06, alongside adjusted figures of $28.4 million and $1.14, reflecting robust performance amid the Two Rivers integration. The acquisition closed on February 28, 2026, adding $871.4 million in loans (net of $35.6 million fair value marks, including $10.8 million Day One ACL) and $1.04 billion in deposits, driving total loans to $6.94 billion (up $932.9 million linked quarter) and deposits to $7.55 billion (up $1.15 billion). Organic growth contributed $65.3 million in loans and $100.4 million in deposits. Net interest income rose to $70.8 million, up $4.3 million from Q4 2025, fueled by loan growth, repricing, and $3.4 million in accretion income; NIM expanded 5 basis points to 3.78% tax-equivalent, with earning asset yields up 1 bp and funding costs down 4 bp to 1.67%. Non-interest income increased to $26.4 million, boosted by record $10.8 million insurance commissions, despite a $0.5 million investment write-down. Expenses rose to $60.7 million, including $2.1 million Two Rivers acquisition costs and $2.8 million post-close run-rate, with efficiency ratio improving to 55.86%. Asset quality remained solid with ACL at 1.25% ($86.8 million), though non-performing loans rose to 0.63% ($44.1 million, $11.0 million from Two Rivers). Provision was $2.6 million amid portfolio growth and $1.5 million charge-offs. Capital strength persisted with CET1 at 13.10%, tangible book value up 2.1% to $30.04. Management highlighted integration progress, organic growth in a seasonally soft period, and capital deployment via $0.5 million share repurchases and a $0.25 dividend, affirming commitment to shareholder returns.