Business
First Mid Bancshares, Inc. Announces Second Quarter 2025 Results
MATTOON, Ill., July 24, 2025 (GLOBE NEWSWIRE) -- First Mid Bancshares, Inc. (NASDAQ: FMBH) (the “Company”) today announced its financial results for the
About this update from First Mid Bancshares, Inc.
[{"type":"text","content":"MATTOON, Ill., July 24, 2025 (GLOBE NEWSWIRE) -- First Mid Bancshares, Inc. (NASDAQ: FMBH) (the “Company”) today announced its financial results for the quarter ended June 30, 2025. Highlights Record high quarterly net income of $23.4 million, or $0.98 diluted EPS, quarterly increase of $0.05Adjusted quarterly net income* of $23.7 million, or $0.99 diluted EPSNet interest margin tax equivalent* expands to 3.72%, quarterly increase of 12 basis points, helping drive the fifth consecutive quarter of growth in net interest incomeTotal loans of $5.77 billion, quarterly increase of $68.1 million, or 1.20%Total deposits of $6.19 billion, quarterly increase of $59.8 million, or 0.98%Tangible book value per share* increased 4.3% during the quarterBoard of Directors declares a $0.01 increase in the quarterly dividend to $0.25 per share “The first half of 2025 has provided strong results. The second quarter provided a record high quarterly net income along with expansion in net interest income. The quarter reflects our strategic approach to driving a higher return on assets,” said Joe Dively, Chairman and Chief Executive Officer. “Along with significant expansion of our net interest margin, we delivered growth in both loans and deposits.” “I am pleased with our execution on our strategic plan and while the macro-economic environment continues to fluctuate, we continue to focus on what we can control by maintaining our disciplined credit culture. We continue to make investments in our technology platforms that will position us well for future growth,” Dively concluded. Net Interest Income Net interest income for the second quarter of 2025 was $63.9 million, an increase of $4.5 million, or 7.5% compared to the first quarter of 2025. The increase was primarily the result of higher yields on earning assets while maintaining funding costs. The increase in interest income included $0.5 million in higher accretion income, which totaled $3.4 million compared to $2.9 million of accretion income in the first quarter. In comparison to the second quarter of 2024, net interest income increased $7.1 million, or 12.5%. Interest income was higher by $4.7 million, inclusive of a decrease in accretion income of $0.3 million compared to the second quarter last year. Interest expense was lower by $2.4 million compared to the second quarter of last year. Net I...