FIRST MID BANCSHARES INC
For the period ended Dec 31, 2023. Filed Mar 6, 2024.
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FY2023 · Filed Mar 6, 2024
FMBH$51.24-0.5%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
ements of Income
| (In thousands, except per share data) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Interest income: | |||
| Interest and fees on loans | $262,423 | $185,869 | $159,684 |
| Interest on investment securities | |||
| Taxable | 24,949 | 20,595 | 15,598 |
| Exempt from federal income tax | 7,170 | 8,785 | 7,318 |
| Interest on certificates of deposit investments | 98 | 37 | 56 |
| Interest on federal funds sold | 419 | 113 | — |
| Interest on deposits with other financial institutions | 5,107 | 492 | 357 |
| Total interest income | 300,166 | 215,891 | 183,013 |
| Interest expense: | |||
| Interest on deposits | 77,294 | 18,813 | 9,037 |
| Interest on securities sold under agreements to repurchase | 6,565 | 1,795 | 231 |
| Interest on FHLB borrowings | 16,779 | 6,184 | 1,514 |
| Interest on other borrowings | 10 | 9 | — |
| Interest on junior subordinated debentures | 1,859 | 868 | 541 |
| Interest on subordinated debt | 4,196 | 3,945 | 3,939 |
| Total interest expense | 106,703 | 31,614 | 15,262 |
| Net interest income | 193,463 | 184,277 | 167,751 |
| Provision for credit losses | 6,104 | 4,806 | 15,151 |
| Net interest income after provision for credit losses | 187,359 | 179,471 | 152,600 |
| Other income: | |||
| Wealth management revenues | 20,793 | 22,492 | 20,407 |
| Insurance commissions | 24,814 | 21,622 | 18,927 |
| Service charges | 10,881 | 9,112 | 6,808 |
| Securities gains, net | 3,383 | 33 | 124 |
| Mortgage banking revenue, net | 2,282 | 1,190 | 4,718 |
| ATM / debit card revenue | 14,347 | 12,422 | 11,974 |
| Bank owned life insurance | 4,957 | 3,559 | 3,039 |
| Other income | 5,329 | 4,252 | 3,770 |
| Total other income | 86,786 | 74,682 | 69,767 |
| Other expense: | |||
| Salaries and employee benefits | 104,962 | 98,594 | 89,660 |
| Net occupancy and equipment expense | 26,946 | 24,257 | 21,546 |
| Net other real estate owned expense | 1,862 | 330 | 3,866 |
| FDIC insurance expense | 3,339 | 1,805 | 1,604 |
| Amortization of intangible assets | 9,127 | 6,290 | 5,391 |
| Stationery and supplies | 1,346 | 1,295 | 1,161 |
| Legal and professional | 7,379 | 6,996 | 6,730 |
| ATM / debit card expense | 5,322 | 4,300 | 3,116 |
| Marketing and donations | 3,005 | 2,999 | 3,603 |
| Other expense | 22,452 | 15,995 | 18,902 |
| Total other expense | 185,740 | 162,861 | 155,579 |
| Income before income taxes | 88,405 | 91,292 | 66,788 |
| Income taxes | 19,470 | 18,340 | 15,298 |
| Net income | $68,935 | $72,952 | $51,490 |
| Per share data: | |||
| Basic net income per common share | $3.17 | $3.62 | $2.88 |
| Diluted net income per common share | 3.15 | 3.60 | 2.87 |
| Cash dividends declared per common share | 0.92 | 0.90 | 0.85 |
Consolidated Statements
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