FMBH · First Mid Bancshares, Inc.

First Mid Bancshares announced a planned leadership transition as part of its long-term succession planning. Effective July 1, 2026, Matthew K. Smith, currently President, will become CEO and President of the company and its subsidiary First Mid Bank & Trust, N.A., and will join the Board. Joseph R. Dively, who has served as Chairman and CEO since 2014, will become Executive Chairman, retaining responsibility for board strategy, governance, and M&A. Smith, age 52, joined First Mid in 2016 as CFO and was named President in June 2025. He holds a CPA and has been instrumental in the company's growth from $2.8 billion to $9.3 billion in assets. The Board approved an employment agreement for Smith effective July 1, 2026 through December 31, 2027, with automatic one-year renewals. Smith will receive a $425,000 base salary, target incentive compensation of 75% of base, and eligibility for LTIP and deferred compensation. The agreement includes severance benefits and non-compete provisions. This transition underscores First Mid's commitment to disciplined succession planning and continuity.