FIRST MID BANCSHARES, INC.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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Sep 30, 2025 · Filed Nov 7, 2025
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Credit Quality
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, collateral support, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a continuous basis. The Company uses the following definitions for risk ratings which are commensurate with a loan considered “criticized”:
Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.
Substandard. Loans classified as substandard are inadequately protected by the current credit worthiness and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.
Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, based on currently existing factors, conditions and values, highly questionable and improbable.
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered pass rated loans.
The following tables present the credit risk profile of the Company’s loan portfolio, on amortized cost basis, based on risk rating category and year of origination as of September 30, 2025 (in thousands):
| Term Loans by Origination Year · Revolving | ||||||||
|---|---|---|---|---|---|---|---|---|
| Risk rating | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Loans | Total |
| Construction and land development loans | ||||||||
| Pass | $72,819 | $120,295 | $103,131 | $9,553 | $15,038 | $15,589 | $— | $336,425 |
| Special mention | — | — | — | — | — | 357 | — | 357 |
| Substandard | — | — | — | 5 | — | 8 | — | 13 |
| Total | $72,819 | $120,295 | $103,131 | $9,558 | $15,038 | $15,954 | $— | $336,795 |
| Current period gross write-offs | $— | $— | $107 | $— | $— | $— | $— | $107 |
| Agricultural real estate loans | ||||||||
| Pass | $29,421 | $22,408 | $12,699 | $132,936 | $59,142 | $98,280 | $— | $354,886 |
| Special mention | 228 | 539 | 1,988 | 1,139 | 990 | 2,600 | — | 7,484 |
| Substandard | 583 | — | — | 105 | — | 4,415 | — | 5,103 |
| Total | $30,232 | $22,947 | $14,687 | $134,180 | $60,132 | $105,295 | $— | $367,473 |
| Current period gross write-offs | $— | $— | $— | $— | $— | $— | $— | $— |
| 1-4 family residential properties | ||||||||
| Pass | $48,591 | $34,586 | $31,118 | $66,128 | $68,822 | $146,002 | $88,471 | $483,718 |
| Special mention | — | — | — | 243 | 69 | 747 | — | 1,059 |
| Substandard | 129 | 510 | 580 | 874 | 918 | 6,730 | 1,019 | 10,760 |
| Total | $48,720 | $35,096 | $31,698 | $67,245 | $69,809 | $153,479 | $89,490 | $495,537 |
| Current period gross write-offs | $— | $— | $9 | $— | $— | $86 | $— | $95 |
| Commercial real estate loans | ||||||||
| Pass | $289,806 | $204,644 | $169,816 | $613,889 | $501,485 | $932,382 | $— | $2,712,022 |
| Special mention | — | 420 | 77 | 11,589 | — | 5,092 | — | 17,178 |
| Substandard | — | 3,350 | 13,594 | 5,097 | 2,406 | 9,082 | — | 33,529 |
| Total | $289,806 | $208,414 | $183,487 | $630,575 | $503,891 | $946,556 | $— | $2,762,729 |
| Current period gross write-offs | $— | $699 | $— | $338 | $— | $70 | $— | $1,107 |
| Agricultural loans | ||||||||
| Pass | $197,424 | $62,560 | $13,421 | $16,830 | $12,412 | $3,753 | $— | $306,400 |
| Special mention | 1,355 | 76 | 11 | — | 23 | — | — | 1,465 |
| Substandard | 293 | 479 | 2,202 | 755 | — | — | — | 3,729 |
| Total | $199,072 | $63,115 | $15,634 | $17,585 | $12,435 | $3,753 | $— | $311,594 |
| Current period gross write-offs | $— | $280 | $1,081 | $836 | $306 | $— | $— | $2,503 |
| Commercial and industrial loans | ||||||||
| Pass | $362,349 | $228,578 | $101,224 | $228,885 | $159,932 | $377,237 | $— | $1,458,205 |
| Special mention | 160 | 15,055 | 9,367 | 578 | 3,340 | 5,108 | — | 33,608 |
| Substandard | — | 248 | 2,246 | 1,525 | 338 | 17,423 | — | 21,780 |
| Total | $362,509 | $243,881 | $112,837 | $230,988 | $163,610 | $399,768 | $— | $1,513,593 |
| Current period gross write-offs | $— | $— | $163 | $225 | $497 | $769 | $— | $1,654 |
| Consumer loans | ||||||||
| Pass | $4,722 | $2,978 | $3,253 | $15,325 | $6,736 | $2,864 | $— | $35,878 |
| Special mention | — | — | — | 44 | — | — | — | 44 |
| Substandard | 5 | 28 | 17 | 151 | 132 | 62 | — | 395 |
| Total | $4,727 | $3,006 | $3,270 | $15,520 | $6,868 | $2,926 | $— | $36,317 |
| Current period gross write-offs | $— | $20 | $26 | $99 | $43 | $781 | $— | $969 |
| Total loans | ||||||||
| Pass | $1,005,132 | $676,049 | $434,662 | $1,083,546 | $823,567 | $1,576,107 | $88,471 | $5,687,534 |
| Special mention | 1,743 | 16,090 | 11,443 | 13,593 | 4,422 | 13,904 | — | 61,195 |
| Substandard | 1,010 | 4,615 | 18,639 | 8,512 | 3,794 | 37,720 | 1,019 | 75,309 |
| Total | $1,007,885 | $696,754 | $464,744 | $1,105,651 | $831,783 | $1,627,731 | $89,490 | $5,824,038 |
| Current period gross write-offs | $— | $999 | $1,386 | $1,498 | $846 | $1,706 | $— | $6,435 |
The following tables present the credit risk profile of the Company’s loan portfolio, on amortized cost basis, based on risk rating category as of December 31, 2024 (in thousands):
| Term Loans by Origination Year · Revolving | ||||||||
|---|---|---|---|---|---|---|---|---|
| Risk rating | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Loans | Total |
| Construction and land development loans | ||||||||
| Pass | $82,696 | $101,715 | $14,390 | $15,817 | $4,735 | $16,342 | $— | $235,695 |
| Special mention | — | — | — | — | — | 382 | — | 382 |
| Substandard | — | — | 6 | — | — | 10 | — | 16 |
| Total | $82,696 | $101,715 | $14,396 | $15,817 | $4,735 | $16,734 | $— | $236,093 |
| Current period gross write-offs | $— | $— | $— | $— | $— | $— | $— | $— |
| Agricultural real estate loans | ||||||||
| Pass | $25,824 | $17,292 | $159,433 | $55,083 | $48,700 | $73,592 | $— | $379,924 |
| Special mention | — | 192 | 107 | 986 | 1,755 | 5,630 | — | 8,670 |
| Substandard | — | 141 | 966 | — | — | 1,059 | — | 2,166 |
| Total | $25,824 | $17,625 | $160,506 | $56,069 | $50,455 | $80,281 | $— | $390,760 |
| Current period gross write-offs | $— | $— | $— | $— | $— | $— | $— | $— |
| 1-4 family residential properties | ||||||||
| Pass | $46,350 | $36,454 | $74,580 | $75,325 | $61,936 | $110,348 | $79,714 | $484,707 |
| Special mention | 175 | — | 204 | 326 | — | 577 | 59 | 1,341 |
| Substandard | 174 | 672 | 916 | 737 | 557 | 6,875 | 618 | 10,549 |
| Total | $46,699 | $37,126 | $75,700 | $76,388 | $62,493 | $117,800 | $80,391 | $496,597 |
| Current period gross write-offs | $— | $46 | $13 | $33 | $— | $103 | $— | $195 |
| Commercial real estate loans | ||||||||
| Pass | $216,297 | $213,704 | $680,665 | $535,056 | $289,855 | $774,516 | $— | $2,710,093 |
| Special mention | 659 | 13,732 | 4,090 | 2,053 | 713 | 10,462 | — | 31,709 |
| Substandard | — | 49 | 3,844 | 467 | — | 4,067 | — | 8,427 |
| Total | $216,956 | $227,485 | $688,599 | $537,576 | $290,568 | $789,045 | $— | $2,750,229 |
| Current period gross write-offs | $— | $— | $151 | $— | $— | $300 | $— | $451 |
| Agricultural loans | ||||||||
| Pass | $175,402 | $24,024 | $13,147 | $9,162 | $1,585 | $2,306 | $— | $225,626 |
| Special mention | 617 | 2,208 | 976 | 100 | — | — | — | 3,901 |
| Substandard | 843 | 7,092 | 2,209 | — | — | — | — | 10,144 |
| Total | $176,862 | $33,324 | $16,332 | $9,262 | $1,585 | $2,306 | $— | $239,671 |
| Current period gross write-offs | $— | $2,213 | $100 | $52 | $— | $45 | $— | $2,410 |
| Commercial and industrial loans | ||||||||
| Pass | $307,785 | $228,411 | $278,845 | $183,042 | $131,005 | $360,610 | $— | $1,489,698 |
| Special mention | 54 | 1,149 | 1,277 | 748 | 1,020 | 7,583 | — | 11,831 |
| Substandard | 65 | 1,410 | 789 | 446 | 98 | 815 | — | 3,623 |
| Total | $307,904 | $230,970 | $280,911 | $184,236 | $132,123 | $369,008 | $— | $1,505,152 |
| Current period gross write-offs | $10 | $47 | $207 | $378 | $10 | $36 | $— | $688 |
| Consumer loans | ||||||||
| Pass | $5,098 | $5,138 | $24,430 | $11,810 | $4,494 | $2,385 | $— | $53,355 |
| Special mention | — | — | 14 | — | — | — | — | 14 |
| Substandard | 12 | 21 | 259 | 216 | 54 | 29 | — | 591 |
| Total | $5,110 | $5,159 | $24,703 | $12,026 | $4,548 | $2,414 | $— | $53,960 |
| Current period gross write-offs | $98 | $63 | $154 | $139 | $59 | $1,491 | $— | $2,004 |
| Total loans | ||||||||
| Pass | $859,452 | $626,738 | $1,245,490 | $885,295 | $542,310 | $1,340,099 | $79,714 | $5,579,098 |
| Special mention | 1,505 | 17,281 | 6,668 | 4,213 | 3,488 | 24,634 | 59 | 57,848 |
| Substandard | 1,094 | 9,385 | 8,989 | 1,866 | 709 | 12,855 | 618 | 35,516 |
| Total | $862,051 | $653,404 | $1,261,147 | $891,374 | $546,507 | $1,377,588 | $80,391 | $5,672,462 |
| Current period gross write-offs | $108 | $2,369 | $625 | $602 | $69 | $1,975 | $— | $5,748 |
The following table presents the Company’s loan portfolio, on an amortized cost basis, aging analysis at September 30, 2025 and December 31, 2024 (in thousands):
| 30-59Days PastDue · 60-89Days PastDue · 90 Days orMorePast Due · Total PastDue · Current · Total LoansReceivable · Total Loans> 90 Days andAccruing | ||||||||
|---|---|---|---|---|---|---|---|---|
| Construction and land development | $— | $— | $— | $— | $336,795 | $336,795 | $— | |
| Agricultural real estate | — | — | 841 | 841 | 366,632 | 367,473 | — | |
| 1-4 family residential properties | 491 | 554 | 1,487 | 2,532 | 493,005 | 495,537 | — | |
| Multifamily residential properties | — | — | — | — | 330,549 | 330,549 | — | |
| Commercial real estate | 1,834 | 13,730 | 4,984 | 20,548 | 2,411,632 | 2,432,180 | — | |
| Loans secured by real estate | 2,325 | 14,284 | 7,312 | 23,921 | 3,938,613 | 3,962,534 | — | |
| Agricultural loans | 318 | 30 | 190 | 538 | 311,056 | 311,594 | — | |
| Commercial and industrial loans | 972 | 947 | 388 | 2,307 | 1,347,556 | 1,349,863 | — | |
| Consumer loans | 293 | 74 | 35 | 402 | 35,915 | 36,317 | — | |
| All other loans | — | — | 2,075 | 2,075 | 161,655 | 163,730 | — | |
| Total loans | $3,908 | $15,335 | $10,000 | $29,243 | $5,794,795 | $5,824,038 | $— | |
| Percent of total loans | 0.50% | |||||||
| Construction and land development | $6 | $— | $— | $6 | $236,087 | $236,093 | $— | |
| Agricultural real estate | — | — | 533 | 533 | 390,227 | 390,760 | — | |
| 1-4 family residential properties | 2,209 | 931 | 2,089 | 5,229 | 491,368 | 496,597 | — | |
| Multifamily residential properties | — | — | 472 | 472 | 332,172 | 332,644 | — | |
| Commercial real estate | 595 | 553 | 344 | 1,492 | 2,416,093 | 2,417,585 | — | |
| Loans secured by real estate | 2,810 | 1,484 | 3,438 | 7,732 | 3,865,947 | 3,873,679 | — | |
| Agricultural loans | 550 | — | 1,289 | 1,839 | 237,832 | 239,671 | — | |
| Commercial and industrial loans | 337 | 89 | 463 | 889 | 1,335,031 | 1,335,920 | — | |
| Consumer loans | 442 | 48 | 111 | 601 | 53,359 | 53,960 | — | |
| All other loans | — | — | — | — | 169,232 | 169,232 | — | |
| Total loans | $4,139 | $1,621 | $5,301 | $11,061 | $5,661,401 | $5,672,462 | $— | |
| Percent of total loans | 0.19% | |||||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.