First Mid Bancshares (FMBH) Financials

$39.40 -0.72 (-1.79%)

Closing price 09/12/2025 04:00 PM Eastern

Extended Trading

$39.35 -0.05 (-0.13%)

As of 09/12/2025 04:57 PM Eastern

Annual Income Statements for First Mid Bancshares

This table shows First Mid Bancshares' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	11	14	21	27	37	48	45	51	73	69	79
Consolidated Net Income / (Loss)	15	17	22	27	37	48	45	51	73	69	79
Net Income / (Loss) Continuing Operations	15	17	22	27	37	48	45	51	73	69	79
Total Pre-Tax Income	25	26	34	42	49	63	60	67	91	88	104
Total Revenue	70	76	98	123	147	182	187	238	259	280	325
Net Interest Income / (Expense)	51	56	71	93	112	126	127	168	184	193	229
Total Interest Income	55	59	75	100	125	150	144	183	216	300	357
Loans and Leases Interest Income	45	48	62	83	106	127	127	160	186	262	320
Investment Securities Interest Income	9.85	11	13	16	18	21	17	23	29	32	29
Deposits and Money Market Investments Interest Income	0.08	0.24	0.49	0.34	0.55	1.84	0.36	0.41	0.53	5.21	8.04
Federal Funds Sold and Securities Borrowed Interest Income	0.00	0.00	0.04	0.06	0.01	0.01	0.00	0.00	0.11	0.42	0.05
Total Interest Expense	3.25	3.50	4.29	6.48	13	24	17	15	32	107	129
Deposits Interest Expense	2.35	2.28	2.71	4.00	8.57	19	13	9.04	19	77	107
Long-Term Debt Interest Expense	0.85	1.16	1.48	2.31	3.48	4.18	3.46	5.99	11	23	15
Federal Funds Purchased and Securities Sold Interest Expense	0.05	0.06	0.10	0.18	0.33	0.91	0.49	0.23	1.80	6.57	6.45
Total Non-Interest Income	18	21	27	30	35	56	60	70	75	87	96
Trust Fees by Commissions	4.61	5.06	5.43	-	-	-	16	20	22	-	23
Other Service Charges	13	15	12	14	16	28	35	46	49	44	69
Net Realized & Unrealized Capital Gains on Investments	0.72	0.45	1.19	0.62	0.90	0.80	1.11	0.12	0.03	3.38	-0.43
Other Non-Interest Income	0.00	0.00	1.84	8.73	11	19	6.81	3.04	3.56	28	4.73
Provision for Credit Losses	0.63	1.32	2.83	7.46	8.67	6.43	16	15	4.81	6.10	5.64
Total Non-Interest Expense	45	49	62	74	90	112	111	156	163	186	215
Salaries and Employee Benefits	25	26	32	40	47	63	66	90	99	105	124
Net Occupancy & Equipment Expense	8.35	9.14	11	13	15	18	17	22	24	27	30
Marketing Expense	1.02	1.09	1.85	1.36	1.79	2.03	1.62	3.60	3.00	3.01	3.42
Property & Liability Insurance Claims	0.80	0.90	0.97	0.91	1.06	0.22	1.31	1.60	1.81	3.34	3.46
Other Operating Expenses	8.93	11	13	17	23	24	20	34	29	38	40
Amortization Expense	0.64	0.89	1.91	2.15	3.22	5.85	5.06	5.39	6.29	9.13	14
Income Tax Expense	9.25	9.22	12	15	12	15	14	15	18	19	25
Basic Earnings per Share	$1.88	$1.84	$2.07	$2.13	$2.53	$2.88	$2.71	$2.88	$3.62	$3.17	$3.31
Weighted Average Basic Shares Outstanding	6.00M	7.78M	10.15M	12.53M	14.50M	16.60M	18.04M	20.44M	20.50M	23.89M	23.98M
Diluted Earnings per Share	$1.85	$1.81	$2.05	$2.13	$2.52	$2.87	$2.70	$2.87	$3.60	$3.15	$3.30
Weighted Average Diluted Shares Outstanding	6.00M	7.78M	10.15M	12.53M	14.50M	16.60M	18.04M	20.44M	20.50M	23.89M	23.98M
Weighted Average Basic & Diluted Shares Outstanding	6.00M	7.78M	10.15M	12.53M	14.50M	16.60M	18.04M	20.44M	20.50M	23.89M	23.98M
Cash Dividends to Common per Share	$0.55	$0.59	$0.62	$0.66	$0.70	$0.76	$0.81	$0.85	$0.90	$0.92	$0.94

This table shows First Mid Bancshares' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	18	21	19	17	15	18	21	20	19	19	22
Consolidated Net Income / (Loss)	18	21	19	17	15	18	21	20	19	19	22
Net Income / (Loss) Continuing Operations	18	21	19	17	15	18	21	20	19	19	22
Total Pre-Tax Income	23	24	25	21	20	22	27	27	25	25	28
Total Revenue	65	64	66	62	73	79	80	79	81	85	84
Net Interest Income / (Expense)	48	46	43	42	50	57	55	57	58	59	59
Total Interest Income	57	61	64	66	80	90	88	89	91	90	88
Loans and Leases Interest Income	49	53	56	58	69	79	78	80	82	81	80
Investment Securities Interest Income	7.30	7.29	7.13	7.19	9.28	8.52	7.41	7.41	7.04	6.99	6.78
Deposits and Money Market Investments Interest Income	0.14	0.23	0.22	0.47	1.90	2.61	2.43	1.71	2.34	1.56	0.86
Federal Funds Sold and Securities Borrowed Interest Income	0.04	0.07	0.09	0.10	0.11	0.12	0.02	0.01	0.03	-	0.00
Total Interest Expense	8.50	15	20	24	30	32	32	32	34	31	28
Deposits Interest Expense	4.92	9.23	13	17	22	26	26	26	28	26	24
Long-Term Debt Interest Expense	3.15	4.65	6.25	5.46	6.32	4.80	4.05	3.97	3.85	3.42	3.25
Federal Funds Purchased and Securities Sold Interest Expense	0.43	1.16	1.46	1.72	1.63	1.75	2.06	1.62	1.44	1.33	1.18
Total Non-Interest Income	17	18	22	19	23	22	24	22	23	26	25
Trust Fees by Commissions	4.84	-	-	-	4.94	-	5.32	5.41	5.82	6.28	5.80
Other Service Charges	11	14	13	10	13	8.38	18	15	15	21	17
Net Realized & Unrealized Capital Gains on Investments	0.08	-0.05	-0.05	-0.01	3.39	0.05	0.00	-0.16	-0.28	-	-0.18
Other Non-Interest Income	1.27	-6.14	7.31	6.86	1.87	12	1.12	2.23	2.31	-0.93	2.40
Provision for Credit Losses	0.14	0.81	-0.82	0.46	5.91	0.55	-0.36	1.08	1.27	3.64	1.65
Total Non-Interest Expense	42	39	42	40	47	57	53	51	54	56	54
Salaries and Employee Benefits	25	24	26	24	25	30	30	30	32	32	32
Net Occupancy & Equipment Expense	5.90	6.13	6.01	6.04	6.93	7.98	7.56	7.51	8.06	7.29	8.48
Marketing Expense	0.74	0.68	0.65	0.91	0.76	0.68	0.86	0.81	0.84	0.91	0.85
Property & Liability Insurance Claims	0.48	0.46	0.46	1.08	0.79	1.02	0.87	0.90	0.83	0.86	0.85
Other Operating Expenses	7.95	6.89	6.86	7.00	11	14	10	8.66	9.24	12	9.31
Amortization Expense	1.60	1.54	1.52	1.48	2.57	3.56	3.50	3.34	3.41	3.31	3.23
Income Tax Expense	5.42	3.06	5.73	4.79	5.37	3.58	6.44	6.97	5.89	6.21	5.98
Basic Earnings per Share	$0.88	$1.01	$0.94	$0.81	$0.68	$0.74	$0.86	$0.83	$0.81	$0.81	$0.93
Weighted Average Basic Shares Outstanding	20.46M	20.50M	20.53M	20.54M	23.84M	23.89M	23.90M	23.91M	23.91M	23.98M	23.99M
Diluted Earnings per Share	$0.88	$1.00	$0.93	$0.80	$0.68	$0.74	$0.86	$0.82	$0.81	$0.81	$0.93
Weighted Average Diluted Shares Outstanding	20.46M	20.50M	20.53M	20.54M	23.84M	23.89M	23.90M	23.91M	23.91M	23.98M	23.99M
Weighted Average Basic & Diluted Shares Outstanding	20.46M	20.50M	20.53M	20.54M	23.84M	23.89M	23.90M	23.91M	23.91M	23.98M	23.99M

This table details how cash moves in and out of First Mid Bancshares' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-13	64	60	-87	53	-56	332	-249	-16	-9.37	-22
Net Cash From Operating Activities	18	22	27	46	42	63	64	70	66	72	124
Net Cash From Continuing Operating Activities	18	22	27	46	42	63	64	70	66	72	124
Net Income / (Loss) Continuing Operations	15	17	22	27	37	48	45	51	73	69	79
Consolidated Net Income / (Loss)	15	17	22	27	37	48	45	51	73	69	79
Provision For Loan Losses	0.63	1.32	2.83	7.46	8.67	6.43	16	15	4.81	6.10	5.64
Depreciation Expense	3.96	4.44	7.94	8.13	7.88	11	12	14	15	15	21
Non-Cash Adjustments to Reconcile Net Income	-1.65	1.14	-3.39	2.73	2.02	-3.12	-9.84	-3.81	-5.60	6.36	-6.88
Changes in Operating Assets and Liabilities, net	-0.62	-1.41	-1.79	1.15	-13	0.73	0.29	-7.68	-21	-24	26
Net Cash From Investing Activities	-10	10	-78	-56	-11	-32	-562	-482	-179	474	-7.51
Net Cash From Continuing Investing Activities	-10	10	-78	-56	-11	-32	-562	-482	-179	474	-7.51
Purchase of Property, Leasehold Improvements and Equipment	-1.18	-1.76	-0.70	-1.27	-3.11	-4.10	-2.46	-3.70	-5.02	-3.64	-4.95
Acquisitions	-	-	-	-	-	-	-	27	67	45	-8.94
Purchase of Investment Securities	-142	-399	-411	-307	-136	-248	-953	-755	-429	-23	-122
Sale of Property, Leasehold Improvements and Equipment	0.00	0.00	0.15	-	-	-	-	-	0.00	0.00	0.01
Sale and/or Maturity of Investments	133	134	297	253	71	220	393	249	188	456	128
Net Cash From Financing Activities	-21	32	111	-77	21	-87	831	164	97	-556	-139
Net Cash From Continuing Financing Activities	-21	32	111	-77	21	-87	831	164	97	-556	-139
Net Change in Deposits	-16	6.84	61	-55	-20	-71	775	273	-260	-328	-67
Issuance of Debt	11	7.00	42	52	45	50	118	5.00	360	150	165
Issuance of Common Equity	0.49	28	0.20	4.40	37	0.66	0.61	1.94	1.24	1.00	1.05
Repayment of Debt	-11	-7.00	-19	-40	-45	-74	-44	-40	-26	-351	-206
Repurchase of Common Equity	-1.76	-1.07	0.00	-0.80	-0.14	-1.29	-0.21	-0.33	-0.34	-0.47	-0.66
Payment of Dividends	-6.99	-5.49	-6.56	-7.23	-8.79	-12	-13	-15	-18	-20	-22
Other Financing Activities, Net	2.78	3.18	33	-31	13	21	-6.17	-61	40	-7.69	-9.60
Cash Interest Paid	3.24	3.43	4.11	6.42	12	24	17	16	30	105	129
Cash Income Taxes Paid	9.34	7.80	13	12	9.65	16	19	19	23	22	-1.52

This table details how cash moves in and out of First Mid Bancshares' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	28	-3.52	17	5.12	209	-240	213	-120	-71	-43	80
Net Cash From Operating Activities	34	12	20	18	5.41	29	29	24	33	38	48
Net Cash From Continuing Operating Activities	34	12	20	18	5.41	29	29	24	33	38	48
Net Income / (Loss) Continuing Operations	18	21	19	17	15	18	21	20	19	19	22
Consolidated Net Income / (Loss)	18	21	19	17	15	18	21	20	19	19	22
Provision For Loan Losses	0.14	0.81	-0.82	0.46	5.91	0.55	-0.36	1.08	1.27	3.64	1.65
Depreciation Expense	3.85	3.56	3.49	3.38	3.10	4.93	5.34	5.01	5.28	5.15	5.00
Non-Cash Adjustments to Reconcile Net Income	-0.02	-4.40	-2.66	-3.26	-7.08	19	-1.26	-5.49	-0.71	0.58	1.63
Changes in Operating Assets and Liabilities, net	12	-9.04	1.12	0.70	-12	-14	4.82	3.72	7.72	9.73	17
Net Cash From Investing Activities	-11	-74	90	-33	355	62	97	-28	-30	-47	4.55
Net Cash From Continuing Investing Activities	-11	-74	90	-33	355	62	97	-28	-30	-47	4.55
Purchase of Property, Leasehold Improvements and Equipment	-1.11	-1.15	-0.94	-0.97	-1.11	-0.62	-1.48	-1.12	-1.11	-1.24	-1.93
Purchase of Investment Securities	-73	-109	-1.33	0.01	0.02	-21	77	-66	-63	-70	-0.52
Sale of Property, Leasehold Improvements and Equipment	-	-	-	-	-	-	0.00	-	-	-	3.50
Sale and/or Maturity of Investments	131	-31	92	-22	302	84	22	39	43	24	3.50
Net Cash From Financing Activities	0.49	54	-93	20	-152	-331	86	-116	-75	-34	28
Net Cash From Continuing Financing Activities	5.49	59	-93	20	-152	-331	86	-116	-75	-34	28
Net Change in Deposits	164	-226	-226	189	-68	-223	119	-127	-27	-32	73
Issuance of Debt	40	-5.26	170	-10	-10	-	0.00	75	-	90	54
Issuance of Common Equity	0.19	0.24	0.34	0.21	0.24	0.22	0.38	0.20	0.25	0.22	0.43
Repayment of Debt	-194	255	-40	-135	-75	-101	-25	-59	-42	-77	-110
Payment of Dividends	-4.69	-4.69	-4.70	-4.70	-4.70	-5.46	-5.47	-5.47	-5.71	-5.72	-5.73
Other Financing Activities, Net	-	40	7.25	-19	5.81	-1.26	-3.00	-	-	-9.60	16
Cash Interest Paid	7.15	15	19	24	28	34	31	33	33	32	27
Cash Income Taxes Paid	3.58	0.53	0.29	9.42	6.92	5.63	-0.82	-1.48	-0.79	-0.08	-1.19

This table presents First Mid Bancshares' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,607	2,114	2,885	2,842	3,840	3,839	4,726	5,987	6,744	7,587	7,520
Cash and Due from Banks	41	43	58	75	64	76	75	-	138	123	92
Federal Funds Sold	0.49	0.49	39	0.49	0.67	0.93	1.31	1.36	7.63	8.98	0.08
Interest Bearing Deposits at Other Banks	11	73	79	13	77	7.66	341	76	6.39	11	29
Time Deposits Placed and Other Short-Term Investments	0.00	25	15	1.69	7.57	4.63	2.70	2.45	1.47	1.47	3.50
Trading Account Securities	432	605	695	649	763	756	884	1,428	1,222	1,178	1,070
Loans and Leases, Net of Allowance	1,047	1,266	1,808	1,918	2,617	-27	-42	3,938	-59	-69	-70
Allowance for Loan and Lease Losses	14	15	17	20	26	27	42	55	59	69	70
Loans Held for Sale	1.96	-	-	-	-	1.82	1.92	-	0.34	4.98	6.61
Premises and Equipment, Net	27	31	40	38	59	59	58	81	90	101	100
Goodwill	26	41	58	60	105	105	105	112	140	196	203
Intangible Assets	1.84	9.00	13	11	34	28	23	30	29	68	59
Other Assets	20	21	80	74	113	2,826	3,276	223	5,166	5,962	6,026
Total Liabilities & Shareholders' Equity	1,607	2,114	2,885	2,842	3,840	3,839	4,726	5,987	6,744	7,587	7,520
Total Liabilities	1,442	1,909	2,604	2,534	3,364	3,313	4,158	5,222	6,111	6,794	6,673
Non-Interest Bearing Deposits	222	343	471	480	576	633	937	1,247	1,257	1,398	1,329
Interest Bearing Deposits	1,050	1,390	1,859	1,794	2,413	2,284	2,756	3,710	4,000	4,725	4,728
Short-Term Debt	142	129	186	166	200	208	207	146	221	214	204
Accrued Interest Payable	0.29	0.36	0.54	0.60	1.76	2.26	2.35	-	3.35	5.44	5.28
Long-Term Debt	21	41	82	84	149	138	207	86	579	395	354
Other Long-Term Liabilities	6.81	6.55	5.60	8.60	25	47	49	33	50	56	53
Total Equity & Noncontrolling Interests	165	205	281	308	476	527	568	651	633	793	846
Total Preferred & Common Equity	165	205	281	308	476	527	568	634	633	793	846
Total Common Equity	138	178	281	308	476	527	568	651	633	793	846
Common Stock	88	118	213	219	365	367	369	417	513	609	613
Retained Earnings	62	72	86	105	131	167	198	234	289	339	395
Treasury Stock	-15	-16	-16	-16	-17	-18	-19	-	-20	-21	-22
Accumulated Other Comprehensive Income / (Loss)	-0.88	0.72	-5.76	-2.30	-6.47	8.36	17	-0.83	-152	-136	-142
Other Equity Adjustments	3.33	3.25	3.20	3.54	2.76	2.76	2.98	-	2.06	2.63	2.76

This table presents First Mid Bancshares' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	6,661	6,651	6,683	6,704	7,855	7,678	7,581	7,562	7,573
Cash and Due from Banks	116	141	-	134	143	81	104	118	105
Federal Funds Sold	6.86	7.40	7.90	8.16	8.45	0.02	0.03	0.03	0.08
Interest Bearing Deposits at Other Banks	14	12	9.39	33	232	275	131	46	96
Time Deposits Placed and Other Short-Term Investments	1.72	1.47	1.72	1.72	1.96	3.75	3.75	3.50	2.52
Trading Account Securities	1,353	1,234	1,216	1,168	1,225	1,146	1,117	1,122	1,046
Loans and Leases, Net of Allowance	-59	-59	-58	-59	-68	-68	-68	-69	-70
Allowance for Loan and Lease Losses	59	59	58	59	68	68	68	69	70
Loans Held for Sale	1.29	0.47	1.00	2.71	6.23	4.82	7.76	8.09	3.64
Premises and Equipment, Net	91	91	90	90	102	102	102	101	97
Goodwill	140	140	140	146	196	196	196	203	203
Intangible Assets	32	31	28	32	71	64	61	62	55
Other Assets	4,963	5,052	5,095	5,148	5,938	5,874	5,926	5,967	6,033
Total Liabilities & Shareholders' Equity	6,661	6,651	6,683	6,704	7,855	7,678	7,581	7,562	7,573
Total Liabilities	6,035	6,051	6,021	6,043	7,117	6,880	6,767	6,704	6,702
Non-Interest Bearing Deposits	1,370	1,335	1,262	1,171	1,389	1,448	1,393	1,387	1,395
Interest Bearing Deposits	3,949	4,149	3,769	4,049	4,957	4,795	4,722	4,702	4,736
Short-Term Debt	185	226	229	209	215	211	206	204	220
Accrued Interest Payable	1.66	3.01	4.73	4.34	6.73	6.32	5.42	6.49	6.63
Long-Term Debt	490	290	709	564	496	370	391	350	299
Other Long-Term Liabilities	39	49	48	46	54	51	49	54	46
Total Equity & Noncontrolling Interests	626	601	662	661	738	798	814	858	871
Total Preferred & Common Equity	626	601	662	661	738	798	814	858	871
Total Common Equity	626	601	661	661	738	798	814	858	871
Common Stock	513	513	515	515	609	612	612	613	617
Retained Earnings	260	273	304	316	326	354	368	382	412
Treasury Stock	-19	-20	-20	-20	-20	-21	-21	-21	-22
Accumulated Other Comprehensive Income / (Loss)	-128	-168	-138	-152	-179	-148	-147	-117	-135
Other Equity Adjustments	0.97	1.52	-	1.50	2.07	0.83	1.38	2.15	0.51

This table displays calculated financial ratios and metrics derived from First Mid Bancshares' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.85%	9.23%	28.60%	25.78%	19.24%	23.47%	2.88%	27.06%	9.03%	8.22%	15.97%
EBITDA Growth	1.58%	5.22%	38.26%	19.52%	13.09%	31.43%	-3.57%	13.68%	30.92%	-2.86%	21.16%
EBIT Growth	4.87%	4.11%	31.29%	23.52%	16.25%	30.43%	-5.57%	11.79%	36.69%	-3.16%	18.09%
NOPAT Growth	5.02%	6.80%	32.27%	22.18%	37.16%	30.99%	-5.58%	13.74%	41.68%	-5.51%	14.45%
Net Income Growth	5.02%	6.80%	32.27%	22.18%	37.16%	30.99%	-5.58%	13.74%	41.68%	-5.51%	14.45%
EPS Growth	6.94%	-2.16%	13.26%	3.90%	18.31%	13.89%	-5.92%	6.30%	25.44%	-12.50%	4.76%
Operating Cash Flow Growth	-27.92%	23.74%	24.66%	68.31%	-8.62%	48.97%	1.13%	9.53%	-5.42%	10.02%	71.82%
Free Cash Flow Firm Growth	-348.00%	-830.43%	-396.01%	111.53%	-1,417.02%	100.06%	-48,005.93%	157.26%	-1,082.19%	127.76%	-25.09%
Invested Capital Growth	6.06%	14.36%	46.26%	1.68%	47.87%	5.80%	12.60%	1.47%	43.81%	-2.23%	0.23%
Revenue Q/Q Growth	0.69%	6.09%	7.02%	1.86%	8.85%	1.80%	1.70%	4.92%	1.49%	5.78%	1.91%
EBITDA Q/Q Growth	1.40%	5.53%	11.29%	-3.84%	8.84%	3.60%	4.09%	7.04%	0.89%	-0.65%	3.25%
EBIT Q/Q Growth	1.98%	4.04%	11.27%	-3.55%	9.04%	3.90%	4.43%	6.28%	1.90%	-2.27%	3.70%
NOPAT Q/Q Growth	1.92%	4.72%	10.88%	-7.53%	16.99%	4.44%	3.65%	6.77%	5.50%	-3.59%	1.41%
Net Income Q/Q Growth	1.92%	4.72%	10.88%	-7.53%	16.99%	4.44%	3.65%	6.77%	5.50%	-3.59%	1.41%
EPS Q/Q Growth	2.78%	0.00%	4.06%	-8.19%	10.53%	3.99%	3.85%	4.74%	1.69%	-7.62%	2.17%
Operating Cash Flow Q/Q Growth	-13.10%	12.27%	9.86%	2.68%	5.90%	8.53%	18.25%	-9.80%	-14.71%	31.35%	8.20%
Free Cash Flow Firm Q/Q Growth	-179.83%	40.96%	-9.83%	157.31%	-146.26%	100.21%	-1,203.45%	133.44%	-725.34%	138.75%	-33.17%
Invested Capital Q/Q Growth	14.91%	6.26%	7.40%	-2.17%	18.67%	8.18%	16.36%	-0.64%	28.40%	-3.25%	-0.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	41.05%	39.55%	42.52%	40.40%	38.32%	40.79%	38.23%	34.20%	41.07%	36.86%	38.51%
EBIT Margin	35.38%	33.72%	34.43%	33.81%	32.96%	34.82%	31.96%	28.12%	35.25%	31.55%	32.12%
Profit (Net Income) Margin	22.13%	21.64%	22.26%	21.62%	24.87%	26.39%	24.22%	21.68%	28.17%	24.60%	24.28%
Tax Burden Percent	62.56%	64.17%	64.65%	63.95%	75.46%	75.78%	75.78%	77.09%	79.91%	77.98%	75.58%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	37.44%	35.83%	35.35%	36.05%	24.54%	24.22%	24.22%	22.91%	20.09%	22.02%	24.42%
Return on Invested Capital (ROIC)	4.85%	4.70%	4.73%	4.82%	5.30%	5.65%	4.88%	5.20%	6.00%	4.86%	5.62%
ROIC Less NNEP Spread (ROIC-NNEP)	4.85%	4.70%	4.73%	4.82%	5.30%	5.65%	4.88%	5.20%	6.00%	4.86%	5.62%
Return on Net Nonoperating Assets (RNNOA)	4.99%	4.23%	4.26%	4.24%	4.04%	3.92%	3.39%	3.25%	5.36%	4.80%	4.00%
Return on Equity (ROE)	9.84%	8.93%	8.99%	9.07%	9.34%	9.56%	8.27%	8.45%	11.37%	9.67%	9.62%
Cash Return on Invested Capital (CROIC)	-1.03%	-8.70%	-32.84%	3.16%	-33.33%	0.02%	-6.97%	3.74%	-29.93%	7.12%	5.39%
Operating Return on Assets (OROA)	1.54%	1.38%	1.35%	1.46%	1.45%	1.65%	1.39%	1.25%	1.43%	1.23%	1.38%
Return on Assets (ROA)	0.96%	0.89%	0.87%	0.93%	1.10%	1.25%	1.06%	0.96%	1.15%	0.96%	1.04%
Return on Common Equity (ROCE)	7.35%	7.60%	8.49%	9.07%	9.34%	9.56%	8.27%	8.45%	11.37%	9.67%	9.62%
Return on Equity Simple (ROE_SIMPLE)	9.38%	8.05%	7.78%	8.66%	7.69%	9.10%	7.97%	8.12%	11.52%	8.69%	9.32%
Net Operating Profit after Tax (NOPAT)	15	17	22	27	37	48	45	51	73	69	79
NOPAT Margin	22.13%	21.64%	22.26%	21.62%	24.87%	26.39%	24.22%	21.68%	28.17%	24.60%	24.28%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	48.87%	47.93%	46.49%	43.52%	42.90%	45.29%	45.35%	48.34%	48.60%	48.14%	48.60%
Operating Expenses to Revenue	63.72%	64.55%	62.69%	60.14%	61.15%	61.64%	59.43%	65.50%	62.89%	66.28%	66.15%
Earnings before Interest and Taxes (EBIT)	25	26	34	42	49	63	60	67	91	88	104
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	29	30	42	50	56	74	71	81	106	103	125
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.64	1.00	1.25	1.34	0.88	0.98	0.90	1.10	0.97	1.01	1.03
Price to Tangible Book Value (P/TBV)	0.79	1.39	1.68	1.73	1.25	1.32	1.16	1.41	1.33	1.51	1.50
Price to Revenue (P/Rev)	1.25	2.33	3.59	3.33	2.86	2.85	2.73	3.02	2.37	2.85	2.69
Price to Earnings (P/E)	7.72	12.43	16.75	15.42	11.50	10.80	11.28	13.91	8.43	11.60	11.09
Dividend Yield	3.70%	1.42%	2.19%	2.02%	3.78%	2.45%	2.65%	3.18%	2.99%	2.74%	2.57%
Earnings Yield	12.95%	8.05%	5.97%	6.49%	8.69%	9.26%	8.86%	7.19%	11.86%	8.62%	9.02%
Enterprise Value to Invested Capital (EV/IC)	0.69	0.63	0.78	1.02	0.75	0.89	0.51	0.87	0.88	0.90	0.93
Enterprise Value to Revenue (EV/Rev)	3.24	3.07	4.38	4.62	4.22	4.26	2.70	3.66	4.87	4.51	4.03
Enterprise Value to EBITDA (EV/EBITDA)	7.88	7.77	10.29	11.44	11.01	10.44	7.07	10.70	11.86	12.23	10.45
Enterprise Value to EBIT (EV/EBIT)	9.14	9.11	12.71	13.67	12.80	12.23	8.45	13.01	13.82	14.29	12.53
Enterprise Value to NOPAT (EV/NOPAT)	14.62	14.20	19.66	21.38	16.96	16.14	11.15	16.88	17.29	18.33	16.59
Enterprise Value to Operating Cash Flow (EV/OCF)	12.71	10.66	15.65	12.36	14.72	12.32	7.95	12.49	19.16	17.45	10.52
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	32.62	0.00	5,732.77	0.00	23.47	0.00	12.51	17.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.99	0.83	0.95	0.81	0.73	0.66	0.73	0.36	1.26	0.77	0.66
Long-Term Debt to Equity	0.13	0.20	0.29	0.27	0.31	0.26	0.36	0.13	0.91	0.50	0.42
Financial Leverage	1.03	0.90	0.90	0.88	0.76	0.69	0.69	0.62	0.89	0.99	0.71
Leverage Ratio	10.22	10.06	10.29	9.73	8.52	7.66	7.82	8.79	9.92	10.05	9.21
Compound Leverage Factor	10.22	10.06	10.29	9.73	8.52	7.66	7.82	8.79	9.92	10.05	9.21
Debt to Total Capital	49.71%	45.33%	48.83%	44.78%	42.30%	39.64%	42.16%	26.35%	55.83%	43.40%	39.75%
Short-Term Debt to Total Capital	43.42%	34.50%	33.87%	29.71%	24.26%	23.85%	21.06%	16.56%	15.45%	15.25%	14.53%
Long-Term Debt to Total Capital	6.29%	10.83%	14.96%	15.07%	18.04%	15.79%	21.10%	9.79%	40.39%	28.16%	25.22%
Preferred Equity to Total Capital	8.36%	7.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	41.93%	47.36%	51.17%	55.22%	57.70%	60.36%	57.84%	73.65%	44.17%	56.60%	60.25%
Debt to EBITDA	5.69	5.63	6.42	5.01	6.19	4.67	5.80	2.86	7.53	5.89	4.46
Net Debt to EBITDA	3.88	0.97	1.85	3.19	3.54	3.46	-0.08	1.88	6.08	4.49	3.46
Long-Term Debt to EBITDA	0.72	1.35	1.97	1.69	2.64	1.86	2.90	1.06	5.44	3.82	2.83
Debt to NOPAT	10.54	10.30	12.26	9.36	9.53	7.21	9.15	4.52	10.97	8.82	7.08
Net Debt to NOPAT	7.20	1.77	3.54	5.97	5.46	5.34	-0.13	2.96	8.86	6.73	5.50
Long-Term Debt to NOPAT	1.33	2.46	3.76	3.15	4.06	2.87	4.58	1.68	7.94	5.72	4.49
Noncontrolling Interest Sharing Ratio	25.27%	14.81%	5.64%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3.29	-31	-152	17	-230	0.14	-65	37	-364	101	76
Operating Cash Flow to CapEx	1,509.08%	1,248.47%	5,004.01%	3,622.76%	1,355.24%	1,531.27%	2,579.82%	1,879.96%	1,311.24%	1,990.02%	2,519.74%
Free Cash Flow to Firm to Interest Expense	-1.01	-8.74	-35.33	2.70	-17.96	0.01	-3.87	2.43	-11.51	0.95	0.59
Operating Cash Flow to Interest Expense	5.47	6.29	6.39	7.12	3.29	2.61	3.80	4.56	2.08	0.68	0.97
Operating Cash Flow Less CapEx to Interest Expense	5.10	5.78	6.26	6.92	3.05	2.44	3.65	4.32	1.92	0.64	0.93
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.05	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	2.50	2.60	2.74	3.14	3.02	3.06	3.18	3.40	3.01	2.92	3.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	328	375	549	558	825	872	982	997	1,434	1,402	1,405
Invested Capital Turnover	0.22	0.22	0.21	0.22	0.21	0.21	0.20	0.24	0.21	0.20	0.23
Increase / (Decrease) in Invested Capital	19	47	173	9.19	267	48	110	14	437	-32	3.26
Enterprise Value (EV)	226	234	429	571	621	774	505	869	1,261	1,263	1,309
Market Capitalization	87	178	352	411	421	518	511	716	615	800	875
Book Value per Share	$23.41	$21.08	$22.53	$24.41	$31.11	$31.60	$33.95	$35.97	$30.94	$33.27	$35.40
Tangible Book Value per Share	$18.71	$15.14	$16.86	$18.79	$22.01	$23.60	$26.30	$28.15	$22.64	$22.19	$24.44
Total Capital	328	375	549	558	825	872	982	883	1,434	1,402	1,405
Total Debt	163	170	268	250	349	346	414	233	800	608	558
Total Long-Term Debt	21	41	82	84	149	138	207	86	579	395	354
Net Debt	111	29	77	159	200	256	-5.79	153	646	464	434
Capital Expenditures (CapEx)	1.18	1.76	0.55	1.27	3.11	4.10	2.46	3.70	5.02	3.64	4.94
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	163	170	268	250	349	346	414	346	800	608	558
Total Depreciation and Amortization (D&A)	3.96	4.44	7.94	8.13	7.88	11	12	14	15	15	21
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.88	$1.84	$2.07	$2.13	$2.53	$2.88	$2.71	$2.88	$3.62	$3.17	$3.31
Adjusted Weighted Average Basic Shares Outstanding	7.02M	8.46M	12.48M	12.67M	16.67M	16.70M	18.04M	20.44M	20.50M	23.89M	23.98M
Adjusted Diluted Earnings per Share	$1.85	$1.81	$2.05	$2.13	$2.52	$2.87	$2.70	$2.87	$3.60	$3.15	$3.30
Adjusted Weighted Average Diluted Shares Outstanding	7.02M	8.46M	12.48M	12.67M	16.67M	16.70M	18.04M	20.44M	20.50M	23.89M	23.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$2.88	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	7.02M	8.46M	12.48M	12.67M	16.67M	16.70M	18.04M	20.44M	20.50M	23.89M	23.98M
Normalized Net Operating Profit after Tax (NOPAT)	15	17	22	27	37	48	45	51	73	69	79
Normalized NOPAT Margin	22.13%	21.64%	22.26%	21.62%	24.87%	26.39%	24.22%	21.68%	28.17%	24.60%	24.28%
Pre Tax Income Margin	35.38%	33.72%	34.43%	33.81%	32.96%	34.82%	31.96%	28.12%	35.25%	31.55%	32.12%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.60	7.35	7.87	6.44	3.78	2.63	3.57	4.38	2.89	0.83	0.81
NOPAT to Interest Expense	4.75	4.72	5.09	4.12	2.85	1.99	2.71	3.37	2.31	0.65	0.61
EBIT Less CapEx to Interest Expense	7.24	6.85	7.74	6.24	3.54	2.46	3.42	4.13	2.73	0.79	0.77
NOPAT Less CapEx to Interest Expense	4.39	4.22	4.96	3.92	2.61	1.82	2.56	3.13	2.15	0.61	0.57
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	45.19%	33.24%	30.05%	27.09%	24.02%	24.74%	28.31%	28.59%	24.44%	28.37%	28.35%
Augmented Payout Ratio	56.59%	39.70%	30.05%	30.07%	24.40%	27.44%	28.78%	29.22%	24.91%	29.04%	29.19%

This table displays calculated financial ratios and metrics derived from First Mid Bancshares' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.16%	6.32%	1.64%	-5.40%	12.99%	23.96%	21.74%	28.02%	9.62%	7.68%	5.41%
EBITDA Growth	-2.88%	3.57%	13.37%	-7.84%	-13.28%	-2.47%	13.69%	28.25%	29.91%	14.80%	2.68%
EBIT Growth	-4.40%	7.73%	17.11%	-7.01%	-12.28%	-8.64%	8.16%	25.10%	23.81%	17.18%	4.48%
NOPAT Growth	-2.11%	22.60%	15.43%	-6.71%	-15.73%	-12.44%	6.90%	19.18%	28.87%	6.07%	8.14%
Net Income Growth	-2.11%	22.60%	15.43%	-6.71%	-15.73%	-12.44%	6.90%	19.18%	28.87%	6.07%	8.14%
EPS Growth	-12.87%	6.38%	8.14%	-6.98%	-22.73%	-26.00%	-7.53%	2.50%	19.12%	9.46%	8.14%
Operating Cash Flow Growth	-24.64%	-49.54%	-15.86%	543.88%	-84.15%	149.46%	43.06%	34.27%	512.29%	32.67%	64.84%
Free Cash Flow Firm Growth	32.26%	-17,603.03%	-1,394.43%	59.94%	-232.63%	112.04%	149.66%	137.15%	117.31%	-68.25%	-95.45%
Invested Capital Growth	11.28%	43.81%	46.24%	10.20%	29.74%	-2.23%	-13.83%	-1.63%	-2.44%	0.23%	0.81%
Revenue Q/Q Growth	-0.52%	-1.74%	2.74%	-5.81%	18.82%	7.80%	0.91%	-0.95%	1.74%	5.89%	-1.22%
EBITDA Q/Q Growth	1.37%	0.20%	4.16%	-12.89%	-4.62%	12.69%	21.42%	-1.73%	-3.39%	-0.42%	8.60%
EBIT Q/Q Growth	1.72%	1.48%	5.10%	-14.28%	-4.05%	5.68%	24.43%	-0.85%	-5.04%	0.02%	10.94%
NOPAT Q/Q Growth	1.02%	15.05%	-7.07%	-13.62%	-8.75%	19.54%	13.46%	-3.70%	-1.33%	-1.61%	15.67%
Net Income Q/Q Growth	1.02%	15.05%	-7.07%	-13.62%	-8.75%	19.54%	13.46%	-3.70%	-1.33%	-1.61%	15.67%
EPS Q/Q Growth	2.33%	13.64%	-7.00%	-13.98%	-15.00%	8.82%	16.22%	-4.65%	-1.22%	0.00%	14.81%
Operating Cash Flow Q/Q Growth	949.06%	-66.14%	75.59%	-12.08%	-69.69%	433.14%	0.69%	-17.47%	38.21%	15.52%	25.11%
Free Cash Flow Firm Q/Q Growth	67.13%	-336.66%	-16.95%	76.14%	-172.96%	115.81%	382.30%	-82.15%	27.21%	-71.00%	-30.93%
Invested Capital Q/Q Growth	-14.20%	28.40%	11.58%	-10.36%	1.02%	-3.25%	-1.65%	2.33%	0.19%	-0.59%	-1.08%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	41.82%	42.65%	43.24%	39.99%	32.10%	33.56%	40.38%	40.06%	38.04%	35.78%	39.33%
EBIT Margin	35.91%	37.08%	37.93%	34.52%	27.88%	27.33%	33.70%	33.73%	31.49%	29.74%	33.40%
Profit (Net Income) Margin	27.58%	32.29%	29.21%	26.78%	20.57%	22.81%	25.65%	24.93%	24.18%	22.47%	26.31%
Tax Burden Percent	76.80%	87.08%	77.00%	77.59%	73.78%	83.46%	76.10%	73.92%	76.80%	75.54%	78.76%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	23.20%	12.92%	23.00%	22.41%	26.22%	16.54%	23.90%	26.08%	23.20%	24.46%	21.24%
Return on Invested Capital (ROIC)	6.64%	6.88%	5.64%	5.02%	4.25%	4.51%	5.07%	5.47%	5.39%	5.20%	6.26%
ROIC Less NNEP Spread (ROIC-NNEP)	6.64%	6.88%	5.64%	5.02%	4.25%	4.51%	5.07%	5.47%	5.39%	5.20%	6.26%
Return on Net Nonoperating Assets (RNNOA)	4.82%	6.15%	5.80%	5.65%	3.89%	4.45%	5.28%	5.08%	4.27%	3.70%	4.12%
Return on Equity (ROE)	11.46%	13.03%	11.44%	10.68%	8.14%	8.96%	10.35%	10.55%	9.66%	8.91%	10.38%
Cash Return on Invested Capital (CROIC)	-4.16%	-29.93%	-31.95%	-4.27%	-20.31%	7.12%	19.57%	6.81%	7.91%	5.39%	5.01%
Operating Return on Assets (OROA)	1.44%	1.51%	1.48%	1.33%	1.02%	1.07%	1.38%	1.47%	1.30%	1.28%	1.44%
Return on Assets (ROA)	1.11%	1.31%	1.14%	1.03%	0.75%	0.89%	1.05%	1.09%	1.00%	0.97%	1.14%
Return on Common Equity (ROCE)	11.46%	13.03%	11.43%	10.68%	8.14%	8.96%	10.34%	10.55%	9.66%	8.91%	10.38%
Return on Equity Simple (ROE_SIMPLE)	11.51%	0.00%	11.41%	11.25%	9.69%	0.00%	8.80%	9.03%	9.06%	0.00%	9.25%
Net Operating Profit after Tax (NOPAT)	18	21	19	17	15	18	21	20	19	19	22
NOPAT Margin	27.58%	32.29%	29.21%	26.78%	20.57%	22.81%	25.65%	24.93%	24.18%	22.47%	26.31%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	48.46%	47.65%	49.84%	49.29%	45.06%	48.69%	48.62%	48.60%	50.21%	47.06%	48.75%
Operating Expenses to Revenue	63.87%	61.66%	63.31%	64.74%	64.08%	71.97%	66.75%	64.90%	66.94%	65.99%	64.64%
Earnings before Interest and Taxes (EBIT)	23	24	25	21	20	22	27	27	25	25	28
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	27	27	28	25	24	27	32	32	31	31	33
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.03	0.97	0.81	0.72	0.72	1.01	0.97	0.96	1.08	1.03	0.96
Price to Tangible Book Value (P/TBV)	1.43	1.33	1.08	0.99	1.13	1.51	1.43	1.40	1.57	1.50	1.37
Price to Revenue (P/Rev)	2.41	2.37	2.05	1.86	2.00	2.85	2.62	2.50	2.92	2.69	2.54
Price to Earnings (P/E)	8.91	8.43	7.06	6.43	7.42	11.60	10.96	10.63	11.96	11.09	10.39
Dividend Yield	2.96%	2.99%	3.50%	3.95%	3.56%	2.74%	2.85%	2.82%	2.39%	2.57%	2.72%
Earnings Yield	11.23%	11.86%	14.17%	15.55%	13.48%	8.62%	9.12%	9.41%	8.36%	9.02%	9.63%
Enterprise Value to Invested Capital (EV/IC)	0.87	0.88	0.91	0.75	0.59	0.90	0.72	0.81	0.93	0.93	0.83
Enterprise Value to Revenue (EV/Rev)	3.80	4.87	5.58	4.19	3.23	4.51	3.37	3.65	4.13	4.03	3.50
Enterprise Value to EBITDA (EV/EBITDA)	9.19	11.86	13.23	9.99	8.23	12.23	9.25	9.97	10.86	10.45	9.14
Enterprise Value to EBIT (EV/EBIT)	10.82	13.82	15.29	11.52	9.46	14.29	10.96	11.88	13.08	12.53	10.91
Enterprise Value to NOPAT (EV/NOPAT)	14.02	17.29	19.22	14.47	11.97	18.33	14.11	15.50	16.93	16.59	14.29
Enterprise Value to Operating Cash Flow (EV/OCF)	12.56	19.16	23.41	12.82	15.52	17.45	12.21	13.04	11.45	10.52	8.04
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	12.51	3.40	11.76	11.64	17.30	16.60
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	1.26	1.42	1.17	0.96	0.77	0.73	0.73	0.65	0.66	0.60
Long-Term Debt to Equity	0.48	0.91	1.07	0.85	0.67	0.50	0.46	0.48	0.41	0.42	0.34
Financial Leverage	0.73	0.89	1.03	1.13	0.92	0.99	1.04	0.93	0.79	0.71	0.66
Leverage Ratio	10.34	9.92	10.02	10.38	10.84	10.05	9.84	9.69	9.66	9.21	9.14
Compound Leverage Factor	10.34	9.92	10.02	10.38	10.84	10.05	9.84	9.69	9.66	9.21	9.14
Debt to Total Capital	46.20%	55.83%	58.62%	53.92%	49.06%	43.40%	42.11%	42.32%	39.25%	39.75%	37.32%
Short-Term Debt to Total Capital	20.22%	15.45%	14.30%	14.59%	14.84%	15.25%	15.29%	14.60%	14.46%	14.53%	15.82%
Long-Term Debt to Total Capital	25.98%	40.39%	44.33%	39.34%	34.21%	28.16%	26.82%	27.72%	24.79%	25.22%	21.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	53.80%	44.17%	41.32%	46.08%	50.94%	56.60%	57.89%	57.68%	60.75%	60.25%	62.68%
Debt to EBITDA	4.89	7.53	8.55	7.19	6.83	5.89	5.41	5.23	4.57	4.46	4.12
Net Debt to EBITDA	3.35	6.08	8.37	5.55	3.13	4.49	2.06	3.13	3.19	3.46	2.50
Long-Term Debt to EBITDA	2.75	5.44	6.46	5.24	4.77	3.82	3.45	3.42	2.89	2.83	2.37
Debt to NOPAT	7.46	10.97	12.42	10.40	9.94	8.82	8.26	8.13	7.13	7.08	6.44
Net Debt to NOPAT	5.11	8.86	12.17	8.04	4.55	6.73	3.15	4.87	4.97	5.50	3.91
Long-Term Debt to NOPAT	4.20	7.94	9.39	7.59	6.93	5.72	5.26	5.32	4.50	4.49	3.71
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.07%	0.00%	0.00%	0.00%	0.07%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-95	-416	-487	-116	-317	50	242	43	55	16	11
Operating Cash Flow to CapEx	3,065.44%	1,009.08%	2,157.81%	1,846.23%	486.16%	4,667.96%	1,962.70%	2,149.96%	2,990.16%	3,081.64%	0.00%
Free Cash Flow to Firm to Interest Expense	-11.21	-27.67	-23.76	-4.89	-10.57	1.54	7.50	1.35	1.63	0.52	0.39
Operating Cash Flow to Interest Expense	4.02	0.77	0.99	0.75	0.18	0.89	0.90	0.75	0.98	1.24	1.70
Operating Cash Flow Less CapEx to Interest Expense	3.89	0.69	0.95	0.71	0.14	0.87	0.86	0.72	0.95	1.20	1.76
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	2.96	3.01	2.90	2.84	2.75	2.92	3.07	3.26	3.13	3.22	3.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,116	1,434	1,600	1,434	1,449	1,402	1,378	1,411	1,413	1,405	1,390
Invested Capital Turnover	0.24	0.21	0.19	0.19	0.21	0.20	0.20	0.22	0.22	0.23	0.24
Increase / (Decrease) in Invested Capital	113	437	506	133	332	-32	-221	-23	-35	3.26	11
Enterprise Value (EV)	969	1,261	1,452	1,075	856	1,263	991	1,138	1,317	1,309	1,152
Market Capitalization	616	615	533	478	530	800	770	781	930	875	837
Book Value per Share	$29.37	$30.94	$32.24	$32.18	$35.93	$33.27	$33.40	$34.05	$35.91	$35.40	$36.32
Tangible Book Value per Share	$21.01	$22.64	$24.03	$23.48	$22.89	$22.19	$22.49	$23.28	$24.82	$24.44	$25.53
Total Capital	1,116	1,434	1,600	1,434	1,449	1,402	1,378	1,411	1,413	1,405	1,390
Total Debt	516	800	938	773	711	608	580	597	555	558	519
Total Long-Term Debt	290	579	709	564	496	395	370	391	350	354	299
Net Debt	353	646	919	597	325	464	221	358	387	434	315
Capital Expenditures (CapEx)	1.11	1.15	0.94	0.97	1.11	0.62	1.48	1.12	1.11	1.24	-1.57
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	516	800	938	773	711	608	580	597	555	558	519
Total Depreciation and Amortization (D&A)	3.85	3.56	3.49	3.38	3.10	4.93	5.34	5.01	5.28	5.15	5.00
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.88	$1.01	$0.94	$0.81	$0.68	$0.74	$0.86	$0.83	$0.81	$0.81	$0.93
Adjusted Weighted Average Basic Shares Outstanding	20.46M	20.50M	20.53M	20.54M	23.84M	23.89M	23.90M	23.91M	23.91M	23.98M	23.99M
Adjusted Diluted Earnings per Share	$0.88	$1.00	$0.93	$0.80	$0.68	$0.74	$0.86	$0.82	$0.81	$0.81	$0.93
Adjusted Weighted Average Diluted Shares Outstanding	20.46M	20.50M	20.53M	20.54M	23.84M	23.89M	23.90M	23.91M	23.91M	23.98M	23.99M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	20.46M	20.50M	20.53M	20.54M	23.84M	23.89M	23.90M	23.91M	23.91M	23.98M	23.99M
Normalized Net Operating Profit after Tax (NOPAT)	18	21	19	17	15	18	21	20	19	19	22
Normalized NOPAT Margin	27.58%	32.29%	29.21%	26.78%	20.57%	22.81%	25.65%	24.93%	24.18%	22.47%	26.31%
Pre Tax Income Margin	35.91%	37.08%	37.93%	34.52%	27.88%	27.33%	33.70%	33.73%	31.49%	29.74%	33.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.75	1.58	1.22	0.90	0.68	0.67	0.84	0.84	0.75	0.82	1.00
NOPAT to Interest Expense	2.11	1.37	0.94	0.70	0.50	0.56	0.64	0.62	0.58	0.62	0.79
EBIT Less CapEx to Interest Expense	2.62	1.50	1.17	0.86	0.65	0.65	0.79	0.80	0.72	0.78	1.06
NOPAT Less CapEx to Interest Expense	1.98	1.30	0.89	0.66	0.47	0.54	0.59	0.58	0.55	0.58	0.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	24.74%	24.44%	24.57%	25.26%	26.27%	28.37%	28.94%	28.74%	28.43%	28.35%	28.09%
Augmented Payout Ratio	25.23%	24.91%	25.01%	25.70%	26.74%	29.04%	29.59%	29.37%	29.02%	29.19%	28.09%

Key Financial Trends

First Mid Bancshares (NASDAQ: FMBH) has demonstrated steady financial performance over the last four years, with recent quarterly data from Q1 2025 highlighting several key trends in income, cash flows, and balance sheet health.

Income Statement Highlights:

Net interest income for Q1 2025 was $59.4 million, showing a slight increase over the previous quarters in 2024, supporting continued core earnings strength.
Non-interest income for Q1 2025 amounted to $24.9 million, supported by solid trust fee commissions and service charges, indicating diversified revenue streams beyond interest income.
Provision for credit losses remains relatively low at $1.65 million in Q1 2025 compared to some past quarters, suggesting credit quality is stable.
Net income for Q1 2025 was $22.2 million, translating to $0.93 diluted EPS, reflecting steady profitability consistent with recent quarters.
Some volatility seen in net realized & unrealized capital gains on investments, with a slight loss ($181,000) in Q1 2025 which can introduce income variability.

Cash Flow Statement Highlights:

Strong net cash from continuing operating activities of $47.9 million in Q1 2025, up from $38.3 million in Q4 2024, showing improving cash generation capacity.
Q1 2025 investing activities generated $4.5 million net cash, helped by sale of property and investments, reflecting some asset management flexibility.
Although there was a large repayment of debt ($109.8 million), issuance of new debt ($54.0 million) and increase in deposits ($73.3 million) contributed positively to financing cash flow, resulting in net positive financing cash flow of $27.8 million in Q1 2025.
Overall, the total net change in cash and equivalents was a healthy increase of $80.3 million during Q1 2025, strengthening liquidity.

Balance Sheet Highlights:

Total assets remained robust at $7.57 billion at the end of Q1 2025, consistent with prior quarters, reflecting a stable asset base.
Cash and due from banks increased to $105.2 million in Q1 2025 from $81.0 million in Q1 2024, showing enhanced liquidity reserves.
Allowance for loan and lease losses stands at about $70.1 million, remaining significant relative to net loans and leases, indicating prudent risk management but also exposure.
Total liabilities were $6.7 billion and total common equity increased to $871.0 million in Q1 2025, reflecting solid capitalization levels.

Overall Trends and Investor Takeaways:

First Mid Bancshares exhibits consistent profitability with improving net interest income and diversified non-interest income streams.
The bank’s operating cash flow generation is strong and improving, supporting liquidity and potential for capital returns.
Balance sheet remains well-capitalized with stable asset base and increasing cash reserves.
Volatility in investment gains/losses and provisions for credit losses may introduce some earnings variability.
Elevated repayments of debt in some quarters and fluctuations in financing activities suggest monitoring of funding strategy is warranted.

In summary, First Mid Bancshares has demonstrated healthy and consistent financial performance through Q1 2025, with a stable balance sheet and solid earnings trends. Investors should watch for continued management of credit risks and capital structure as well as any shifts in interest rate environments that may impact future net interest margins.

09/14/25 09:38 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About First Mid Bancshares' Financials

When does First Mid Bancshares' financial year end?

According to the most recent income statement we have on file, First Mid Bancshares' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has First Mid Bancshares' net income changed over the last 10 years?

First Mid Bancshares' net income appears to be on an upward trend, with a most recent value of $78.90 million in 2024, rising from $15.46 million in 2014. The previous period was $68.94 million in 2023. Find out what analysts predict for First Mid Bancshares in the coming months.

How has First Mid Bancshares' revenue changed over the last 10 years?

Over the last 10 years, First Mid Bancshares' total revenue changed from $69.85 million in 2014 to $325.01 million in 2024, a change of 365.3%.

How much debt does First Mid Bancshares have?

First Mid Bancshares' total liabilities were at $6.67 billion at the end of 2024, a 1.8% decrease from 2023, and a 362.7% increase since 2014.

How much cash does First Mid Bancshares have?

In the past 10 years, First Mid Bancshares' cash and equivalents has ranged from $0.00 in 2021 to $138.41 million in 2022, and is currently $92.11 million as of their latest financial filing in 2024.

How has First Mid Bancshares' book value per share changed over the last 10 years?

Over the last 10 years, First Mid Bancshares' book value per share changed from 23.41 in 2014 to 35.40 in 2024, a change of 51.2%.

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This page (NASDAQ:FMBH) was last updated on 9/14/2025 by MarketBeat.com Staff

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First Mid Bancshares (FMBH) Financials

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First Mid Bancshares (FMBH) Financials

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