First Mid Bancshares Inc. Stock Price, News & Analysis

First Mid Bancshares, Inc. (NASDAQ: FMBH) and Blackhawk Bancorp, Inc. (OTCQX: BHWB) announced a definitive agreement for a 100% stock merger. Blackhawk, with total assets of approximately $1.32 billion, will merge into First Mid, which plans to pay about $90.3 million in a share exchange. The transaction is projected to be 22% accretive to earnings per share by 2024 and expects to realize 31% cost savings from Blackhawk’s noninterest expenses. After the merger, First Mid will strengthen its balance sheet with improved loan-to-deposit ratios and increased liquidity. The deal has received board approval and is expected to close in H2 2023, pending regulatory and shareholder approvals.

First Mid Bancshares, Inc. (NASDAQ: FMBH) reported a net income of $20.6 million for Q4 2022, with a diluted EPS of $1.01. Total loans grew by 2.2% for the quarter and 10.3% for the year, reaching $4.83 billion. The tangible book value per share rose by 7.8%. Despite a 5.4% drop in net interest income compared to the previous quarter, it increased by 6.9% year-over-year. Noninterest income grew by over 7%, driven by wealth management and insurance services. A quarterly dividend of $0.23 was declared. Capital levels remain strong, well above regulated benchmarks, with a Board-approved dividend payable on March 1, 2023.

First Mid Bancshares reported a net income of $17.9 million, or $0.88 diluted EPS, for Q3 2022, with a solid loan growth of $71.6 million, representing a 1.5% increase. The company experienced a 3.1% rise in net interest income, totaling $46.1 million, driven by higher loan volumes and interest rates. Asset quality remains strong with a non-performing loans ratio of 0.44%. The board declared a quarterly dividend of $0.23 per share, payable on December 1, 2022. However, noninterest income declined to $16.8 million, reflecting seasonal trends. Overall, the company shows resilience amid economic pressures.

First Mid Bancshares, Inc. (FMBH) reported strong financial results for Q2 2022, highlighting a net income of $17.8 million, or $0.86 per diluted share. The company experienced a 4.4% loan growth totaling $194.1 million and successfully completed a merger with Jefferson Bank. The board increased the quarterly dividend by 4.5% to $0.23 per share. Noninterest income decreased to $18.6 million due to seasonal factors, while total deposits fell by $168.3 million. The company's capital ratios remained strong, supporting ongoing growth despite challenges.

First Mid Bancshares reported a net income of $16.6 million and $0.86 diluted EPS for Q1 2022, with adjusted net income at $18.7 million or $0.96 diluted EPS. The company completed the acquisition of Delta Bancshares on February 14, expanding its market presence. Noninterest income rose to $21.1 million, driven by strong performance in wealth management and insurance. However, tangible book value per share fell by 11.6% due to rising interest rates and the acquisition. A regular quarterly dividend of $0.22 was declared for shareholders.

First Mid Bancshares, Inc. (NASDAQ: FMBH) has successfully completed the acquisition of Delta Bancshares Company, which includes Jefferson Bank and Trust. As of December 31, 2021, Delta reported total assets of approximately $718 million, with $560 million in deposits and $424 million in loans. This acquisition increases First Mid's total assets to around $6.7 billion. There will be no immediate changes for Jefferson's customers, with account conversions scheduled for June 2022.

First Mid Bancshares, Inc. (NASDAQ: FMBH) reported a net income of $16.8 million, or $0.93 diluted EPS, for the quarter ending December 31, 2021. Adjusted net income was $17.1 million, or $0.94 diluted EPS. The company experienced a 2.3% growth in loans, excluding PPP loans, and achieved record wealth management revenues of $18.1 million. Net interest income decreased by 6% on declining PPP income, yet increased 27.9% year-over-year. The Federal Reserve approved the acquisition of Delta Bancshares, expected to close in mid-February.

First Mid Bancshares reported a net income of $18.3 million for Q3 2021, achieving a record quarterly earnings per share of $1.01. Adjusted net income reached $19.7 million or $1.08 diluted EPS. Organic loan growth was 1.3%, and the integration of a St. Louis commercial lending team added $208.0 million in loans. Net interest income increased 6.4% from the previous quarter, totaling $2.7 million. Total deposits rose by $249.2 million to $4.99 billion. A quarterly dividend of $0.22 was approved, payable on December 1, 2021.

First Mid Bancshares reported a net income of $12.2 million for Q2 2021, with a diluted EPS of $0.68. The board approved a 7.3% dividend increase to $0.22 per share, payable on September 1, 2021. Key developments included the completed merger with Providence Bank and acquisitions enhancing non-interest income by $2.0 million. Net interest income rose 16.3% from Q1, totaling $6.0 million increase. Noninterest income grew 31.7% year-over-year. Asset quality remains strong with a 0.80% non-performing loan ratio.