FIRST MID BANCSHARES, INC.
For the period ended Mar 31, 2025. Filed May 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 9, 2025
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Derivatives Designated as Hedging Instruments
The following table provides the outstanding notional balances and fair values of outstanding derivatives designated as hedging instruments as of March 31, 2025 and December 31, 2024 (in thousands):
| BalanceSheetLocation | WeightedAverageRemainingMaturity(Years) | NotionalAmount | EstimatedValue | |
|---|---|---|---|---|
| Fair value hedges: | ||||
| Interest rate swap agreements | Other liabilities | 4.1 | $12,416 | $(1,744) |
| Fair value hedges: | ||||
| Interest rate swap agreements | Other liabilities | 4.3 | $12,486 | $(2,006) |
The effects of the fair value hedges on the Company's income statement during thethree months ended March 31, 2025 and 2024 were as follows (in thousands):
| Three months ended | |||
|---|---|---|---|
| March 31, | |||
| Derivative | Location of Gain (Loss) on Derivatives | 2025 | 2024 |
| Interest rate swap agreements | Interest income on loans | $(263) | $155 |
| Three months ended | |||
|---|---|---|---|
| March 31, | |||
| Derivative | Location of Gain (Loss) on Hedged Items | 2025 | 2024 |
| Interest rate swap agreements | Interest income on loans | $263 | $(155) |
As of March 31, 2025, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges (in thousands):
| Line Item in the Balance Sheet in Whichthe Hedge Item is Included | Carrying Amount of theHedged Asset | Cumulative Amount of Fair Value HedgingAdjustment Included in the CarryingAmount of the Hedged Asset |
|---|---|---|
| Loans | $11,736 | $(680) |
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