UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-36434 FIRST MID BANCSHARES, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or org ...

First Mid Bancshares (FMBH) came out with quarterly earnings of $0.93 per share, beating the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $0.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.14%. A quarter ago, it was expected that this bank holding company would post earnings of $0.83 per share when it actually produced earnings of $0.94, delivering a surprise of 13.25%.Over the last four quart ...

EXHIBIT 99.1 First Mid Bancshares, Inc. Announces First Quarter 2024 Results MATTOON, Ill., April 24, 2024 (GLOBE NEWSWIRE) -- First Mid Bancshares, Inc. (NASDAQ: FMBH) (the "Company") today announced its financial results for the quarter ended March 31, 2024. Highlights "Coming off an eventful year for our industry, I am pleased with the way we started 2024," said Joe Dively, Chairman and Chief Executive Officer. "The benefits of adding Blackhawk are shining through with a stable core margin, significant l ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-36434 FIRST MID BANCSHARES, INC. (Exact name of Registrant as specified in its charter) Delaware 37-1103704 (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-36434 FIRST MID BANCSHARES, INC. (Exact name of Registrant as specified in its charter) Delaware 37-1103704 Title of each class Trading Symbol(s ...

Financial Performance - Approximately 65% of the Company's total revenues were derived from lending activities in the fiscal year ended December 31, 2020 [19]. - The Company's net interest margin on a tax-effected basis decreased to 3.27% in 2020 from 3.64% in 2019, primarily due to lower interest rates [26]. - Net income for 2020 was $45.3 million, down from $47.9 million in 2019, with diluted earnings per share at $2.70 compared to $2.87 in the previous year [146]. - Total assets increased to $4.73 billion in 2020 from $3.84 billion in 2019, reflecting growth in the company's financial position [146]. - Total deposits grew to $3.69 billion in 2020 from $2.92 billion in 2019, indicating strong customer retention and growth [146]. - The company's total capital to risk-weighted assets ratio improved to 18.82% in 2020 from 15.74% in 2019, demonstrating enhanced capital strength [146]. - Non-interest income rose to $59.5 million in 2020, up from $56.0 million in 2019, mainly due to increases in wealth management revenues and mortgage banking income [156]. - Non-interest expenses decreased to $111.1 million in 2020 from $112.0 million in 2019, attributed to declines in occupancy and equipment costs [157]. Loan and Credit Risk - Total commercial real estate loans increased from $630 million at December 31, 2016, to $1,174 million at December 31, 2020, with significant contributions from acquisitions [19]. - Nonperforming loans were $28.1 million (0.90% of total loans) at December 31, 2020, which compares favorably with peer financial institutions [25]. - Provision for loan losses rose significantly to $16.1 million in 2020 from $6.4 million in 2019, indicating increased risk due to economic conditions [146]. - The allowance for credit losses as a percentage of total loans increased to 1.34% in 2020 from 1.00% in 2019, reflecting a more cautious approach to potential loan defaults [146]. - The ongoing COVID-19 pandemic has adversely impacted the company's operations and financial condition, with potential credit losses particularly in the hospitality, energy, retail, and restaurant industries [126]. Employee and Operational Metrics - The annual voluntary turnover for full-time employees was 14% in 2020 [14]. - The Company employs 824 people on a full-time equivalent basis, with approximately 75% female and 5.3% minority [14]. - The number of full-time equivalent employees was 824 at December 31, 2020, a slight decrease from 827 in 2019 [202]. Regulatory and Compliance - The Company is subject to extensive regulation under federal and state laws, which can impact its growth and earnings performance [40]. - The Dodd-Frank Act established new requirements for executive compensation and corporate governance, affecting publicly-traded bank holding companies [50]. - The Company must maintain a common equity Tier 1 capital ratio of at least 7.00%, a Tier 1 risk-based ratio of at least 8.50%, and a total capital ratio of at least 10.50% [68]. - The Company has established policies for compliance with the USA PATRIOT Act and related regulations to combat money laundering [47]. - The Gramm-Leach-Bliley Act allows the Company to engage in a full range of financial activities, including banking, insurance, and securities [43]. Mergers and Acquisitions - The Company completed an acquisition of loans totaling $183 million in the St. Louis metro market on April 21, 2020 [33]. - The total consideration paid for the merger with LINCO Bancshares, Inc. was $103.5 million in cash and 1,262,246 shares of common stock [35]. - The Company anticipates merging Providence Bank with First Mid Bank in the second quarter of 2021 [36]. - The Company has completed acquisitions of banks, bank branches, and other businesses in recent years, and may continue to pursue such acquisitions [129]. Market and Economic Conditions - Economic conditions in Illinois significantly affect the company's profitability, as a large percentage of its loans are to individuals and businesses in this region [123]. - The company faces liquidity risks that could affect its ability to meet financial obligations, influenced by factors such as economic conditions and market disruptions [114]. - Changes in interest rates may negatively affect the company's earnings and ability to attract deposits, impacting the net interest margin [112]. - Any change in applicable laws or regulations may materially affect the Company's business and operations [42]. Shareholder and Stock Information - The Company's common stock was held by approximately 953 shareholders of record as of December 31, 2020 [141]. - The Company has a share repurchase program approved for approximately $76.7 million of its common stock since August 5, 1998 [143]. - The Company conducted share repurchases totaling 6,288 shares at an average price of $33.92 during December 2020 [143]. - The ability of the Company to pay dividends is dependent on receiving dividends from First Mid Bank, which is subject to regulatory restrictions [142].

Revenue and Loan Performance - The community banking line contributes approximately 83% of the Company's total revenues[15] - Approximately 63% of the Company's total revenues were derived from lending activities in the fiscal year ended December 31, 2019[19] - Total commercial real estate loans increased from $409 million at December 31, 2015, to $996 million at December 31, 2019[19] - Net interest income rose to $125.7 million in 2019, up from $111.7 million in 2018 and $93.1 million in 2017, primarily due to growth in earnings assets[151] - Net loans increased to $2.67 billion at December 31, 2019, from $2.62 billion in 2018 and $1.92 billion in 2017, driven by growth in commercial real estate and construction[148] - Total deposits decreased to $2.92 billion at December 31, 2019, from $2.99 billion in 2018, but increased from $2.27 billion in 2017[149] Financial Ratios and Capital Adequacy - The Company's net interest margin on a tax-effected basis decreased to 3.64% in 2019 from 3.79% in 2018[27] - The Company's Tier 1 capital ratio increased to 14.79% in 2019 from 12.76% in 2018, reflecting a strong capital position[156] - As of December 31, 2019, the Company had a total risk-based capital ratio of 15.74%, a Tier 1 risk-based ratio of 14.79%, a common equity Tier 1 capital ratio of 14.12%, and a leverage ratio of 11.20%, all exceeding the Federal Reserve Board's minimum requirements[71] - The Company is subject to minimum capital standards established by banking regulators, including a total capital to total risk-based capital ratio of not less than 10.50%[83] Nonperforming Loans and Credit Quality - Nonperforming loans were $27.8 million (1.03% of total loans) at December 31, 2019[26] - Year-end total nonperforming loans decreased to $27.8 million in 2019 from $29.7 million in 2018, indicating improved credit quality[155] - The allowance for loan losses as a percentage of total loans was 1.00% in 2019, compared to 0.99% in 2018[148] - Provision for loan losses decreased to $6.4 million in 2019 from $8.7 million in 2018, reflecting a decrease in nonperforming loans[188] Mergers and Acquisitions - The First Bank Merger closed on May 1, 2018, with the Company issuing an aggregate total of 1,643,900 shares of common stock and paying approximately $10.275 million[34] - The SCB Merger was completed on November 15, 2018, resulting in the issuance of 1,330,571 shares of common stock and approximately $19,046,000 paid to SCB stockholders[37] - Non-interest income increased to $56.0 million in 2019, up 58.5% from $35.4 million in 2018, driven by a 186.6% increase in insurance commissions due to the acquisition of SCB[152] Employee and Operational Expenses - The Company employs 827 people on a full-time equivalent basis as of December 31, 2019[14] - Salaries and employee benefits increased by $15.8 million or 33.7% to $62.6 million in 2019, driven by additional employees from acquisitions and merit increases[199] - Non-interest expenses rose by $22.0 million to $112.0 million in 2019, primarily due to the acquisitions of First Bank and SCB[154] Regulatory Environment - The Company is subject to extensive regulation under federal and state law, which can impact growth and earnings performance[42] - The Dodd-Frank Act requires publicly-traded bank holding companies with assets of $10 billion or more to establish a risk committee for enterprise-wide risk management practices[57] - The Company is required to maintain adequate capital levels to avoid restrictions on dividend payments and other financial activities[89] Market and Economic Risks - The company faces various risks including interest rate risk, liquidity risk, and credit risk, which could materially impact its financial condition and results of operations[109] - Changes in market interest rates may adversely affect the company's financial condition or results of operations[113] - A large percentage of the company's loans are to individuals and businesses in Illinois, making it vulnerable to economic conditions in that region[111] Shareholder and Stock Information - The Company raised approximately $34.0 million in net proceeds from an underwritten public offering of 947,368 shares at a public offering price of $38.00 per share[38] - As of December 31, 2019, the Company's common stock was held by approximately 995 shareholders and is traded on NASDAQ under the symbol "FMBH"[138] - The Company repurchased a total of 40,026 shares at an average price of $32.29 per share during 2019[141] Financial Performance - Net income for 2019 was $47.9 million, an increase from $36.6 million in 2018 and $26.7 million in 2017, with diluted earnings per share at $2.87 for 2019[148] - Total assets at December 31, 2019, were $3.84 billion, unchanged from 2018, and up from $2.84 billion in 2017[148] - Total interest income increased by $25.3 million in 2019, with loans contributing $21.1 million to this increase[181]