First Mid Bancshares, Inc. (FMBH) SEC Filings & Earnings Calls

Nonperforming loan increase

“Total nonperforming loans were $41.3 million at June 30, 2026, compared to $21.9 million at June 30, 2025.” · word for word

Agricultural loan concentration

“At June 30, 2026, the Company’s loan portfolio included $783.0 million of loans to borrowers whose businesses are directly related to agriculture.” · word for word

Integration risk from Two Rivers acquisition

“The increase for the three and six month periods in all other operating expenses is primarily due to integration and acquisition expenses related to the acquisition of Two Rivers Bank on February 28, 2026.” · word for word

Agricultural loan segment downgrades due to strained cash flows, though borrower balance sheets remain strong.

“The migration from special mention to substandard was primarily from downgrades in the agricultural segment. This continues to be driven by strained cash flows; however borrower balance sheets remain strong, with no significant losses anticipated from this segment.” · word for word

Elevated payoffs and disciplined pricing led to a slight decline in total loans, indicating potential competitive pressure.

“Total loans ended the quarter at $6.93 billion, representing a decrease of $9.9 million for the quarter on a combination of elevated payoffs and disciplined pricing decisions.” · word for word

Deposit pricing competition and Two Rivers integration increased cost of funds, pressuring net interest margin.

“The average cost of interest-bearing deposits for the quarter was 1.98%, an increase of 8 basis points from the end of the previous quarter, partially due to two additional months of Two Rivers as well as continued deposit pricing competition.” · word for word

Balloon payment of $17.3M due September 2029 creates refinancing risk; note secured by bank subsidiary stock.

“estimated final balloon payment of $17,313,274.55 due on September 28, 2029... secured by a Negative Pledge and Negative Assignment Agreement... with respect to 100% of the issued and outstanding capital stock of First Mid Bank & Trust.” · word for word

Credit quality deterioration

“Total nonperforming loans were $44.1 million at March 31, 2026, compared to $26.6 million at March 31, 2025 and $31.9 million at December 31, 2025.” · word for word

Acquisition integration risk

“The increase in salaries and employee benefits, the largest component of other expense, is primarily due to the increase in full-time equivalent employees from 1,194 to 1,335 at March 31, 2025 and 2026, respectively, due to the acquisition of Two Rivers.” · word for word

Agricultural loan concentration

“At March 31, 2026, the Company’s loan portfolio included $775.4 million of loans to borrowers whose businesses are directly related to agriculture. Of this amount, $646.4 million was concentrated in other grain farming.” · word for word

Leadership transition risk is low as it is planned and internal; no disruption expected.

“Succession is part of long-term planning; Smith has been President since June 2025 and CFO prior.”

Integration risk from Two Rivers acquisition; potential for higher costs or delays

“integration of the operations of Two Rivers with First Mid will be materially delayed or will be more costly or difficult than expected” · word for word

Variable rate exposure; interest rate risk from Prime and SOFR-based pricing

“Borrowings under the Revolving Note bear interest at a variable rate equal to the Wall Street Journal Prime Rate minus 0.75%; Term Loan at 30-day average SOFR plus 2.75%” · word for word

Asset quality deterioration

“The asset quality metric achieved the threshold payout at 1.40%.” · word for word

Integration risk from merging Two Rivers operations and systems.

“Forward-looking statements mention risk that integration of operations will be materially delayed or more costly than expected.”

Increased leverage from assumed debt and loans.

“Assumed $10.3M in subordinated debt and $20.1M in loans.”

Credit Loss Normalization

“The increase in provision expense for 2025 was expected as the industry returns to a normal credit cycle.” · word for word

Agricultural Loan Concentration

“At December 31, 2025, the Company’s loan portfolio included $681.4 million of loans to borrowers whose businesses are directly related to agriculture.” · word for word

Interest Rate Sensitivity

“The static GAP analysis shows that at December 31, 2025, the Company was liability sensitive, on a cumulative basis, through the twelve-month time horizon.” · word for word

Merger still subject to customary closing conditions; risk of delay or failure.

“Subject to the satisfaction of customary closing conditions in the Merger Agreement, the Merger is anticipated to be completed on February 28, 2026.” · word for word

Integration risks and potential delays in closing the merger.

“Risk that integration of operations will be materially delayed or more costly than expected; failure to obtain required approvals.”

Increase in non-performing loans and special mention loans.

“Non-performing loans to total loans ratio increased to 0.53%; special mention loans increased by $59.3 million to $120.5 million.”

Integration risk; potential delays or failure to satisfy closing conditions.

“Subject to satisfaction of customary closing conditions; forward-looking statements highlight risks.”

Regulatory approval risk; Federal Reserve approval still pending.

“First Mid is still waiting for approval from the Board of Governors of the Federal Reserve System.” · word for word

Agricultural loan concentration

“At September 30, 2025, the Company’s loan portfolio included $678.7 million of loans to borrowers whose businesses are directly related to agriculture.” · word for word

Increased charge-offs

“Net charge offs were $4.8 million for the nine months ended September 30, 2025, compared to net charge offs of $1.9 million for September 30, 2024.” · word for word

Integration risk from acquiring Two Rivers Financial Group, including cultural and operational alignment.

“Merger agreement with Two Rivers Financial Group; integration of banking, trust, and wealth management services.”

Credit migration: special mention loans decreased but substandard loans increased, driven by downgrades of three relationships.

“Special mention loans decreased by $20.6 million to $61.2 million and substandard loans increased $36.3 million to $75.3 million, driven primarily by downgrades of three relationships in varying industries and geographies.” · word for word