First Mid Bancshares, Inc. · NASDAQ:FMBH
First Mid Bancshares — Q2 2026 Earnings Presentation
28 slides from First Mid Bancshares's earnings presentation, 2026
Slide 1: First Mid Bancshares, Inc. Q2 2026 Investor Presentation
NASDAQ: FMBH First Mid Bancshares, Inc. Q2 2026 Investor Presentation Investor Contacts: Austin Frank Jordan Read Director of Investor Relations Chief Financial Officer & 217-258-5522 Chief Risk Officer afrank@firstmid.com 217-258-3528 jread@firstmid.com firstmid.com
Slide 2: Disclosures
Disclosures *Non-GAAP Measures: In addition to reports presented in accordance with generally accepted accounting principles (“GAAP”), this release contains certain non-GAAP financial measures. The Company believes that such non-GAAP financial measures provide investors with information useful in un
Slide 3: Franchise Overview
Franchise Overview Personal & Commercial Banking Brokerage | Trust | Ag Services & Ag RE Brokerage Personal & Business Insurance Total Assets Total Loans Total Deposits FMWM AUM Market Cap Price/Share Div. Yield Price/TBV $9.2B $6.9B $7.6B $8.3B $1.3B $48.09 2.16% 1.54x History and Recognition Old
Slide 4: Our Vision, Our Purpose, Our Values
Our Vision To be a nimble, community-focused financial organization committed to quality, growth and earned independence for the benefit of all our stakeholders. Our Purpose COLLABORATE TO MAKE AN IMPACT. Our Values We make a positive IMPACT through our beliefs and actions. Strong, principled values
Slide 5: Proven History of Consistent Performance
Proven History of Consistent Performance Shareholder Value Quality Core Deposits Annualized shareholder return of Quality core deposit franchise with 11.3% and annualized TBV CAGR of stable relationships, geographically 7.3% since 2014. diverse customer base and long- term reliable source of funding
Slide 6: Quarterly Financial Performance
Quarterly Financial Performance Reported Net Income ($000s), Adjusted Net Income ($000s) & Reported quarterly diluted EPS of $1.04 and Adjusted EPS record high quarterly net income of $27.8 $35 ,000 $1.26 million. $1.14 $1.2 5 $1.06 $33,400 $30 ,000 $0.99 $0.97 Adjusted for non-recurring charges, ne
Slide 7: Quarterly Financial Performance
Quarterly Financial Performance Quarterly Highlights Net Interest Margin 5.5 0% Reported NIM of 3.79%(1) for the quarter 5.41% 5.48% 5.35% 5.36% 5.45% represents a 1bps increase compared to prior quarter. The yield on earning assets improved 4.5 0% by 9 basis points while the average cost of 3.80% 3
Slide 8: Quality Deposit Franchise
Quality Deposit Franchise Total deposits ended the quarter at $7.57 billion, representing Core Deposits / Total Deposits an increase of $23.9 million from the prior quarter. ($ in millions) $7,548 $7,572 Quality core deposit franchise with well diversified deposit $6,395 base $6,124 $6,057 88.8% 89.
Slide 9: Loan Portfolio Characteristics
Loan Portfolio Characteristics $7,000 Loan Portfolio $6,934 ($ in millions) 3.0% 0.5% 5.6% $6,011 5.1% $6,000 2.7% $5,581 $5,672 0.5% 5.2% Geographically Dispersed Portfolio 3.0% 5.6% 3.3% 1.0% 1.6% 5.1% 6.1% 5.9% 5.7% $5,000 $4,826 4.2% 6.0% FL 3.5% 3.3% 4.2% 10.6% Other States 2.0% 3.7% 6.2% 2% 6.
Slide 10: Ag Loan Portfolio Highlights
Ag Loan Portfolio Highlights Total Ag Portfolio Ag Loans by Geography 0.8% 0.1% 0.9% 0.9% 0.1% Central IL Region Champaign/Decatur Region 5.9% Eastern Iowa Region 5.5% Direct Merchant Peoria Region Financing 22% 7.3% Metro/St. Louis Region 36.6% Southern IL Region Farmland 55% Mid Missouri Region Ag
Slide 11: Solid Asset Quality Metrics
Solid Asset Quality Metrics Current ACL balance and historically strong credit performance Allowance / NPLs remain in a position of strength and provide confidence during NPLs Allowance / NPLs times of economic uncertainty. $60 ,000 500 % 475 % 325.0% 328.5% 450 % 425 % Net charge-offs totaled $1.4
Slide 12: Strong Credit Culture
Strong Credit Culture First Mid has strength in its long-standing and disciplined credit culture with consistent underwriting and continual stress testing regardless of the economic cycle. 1.00% Net Charge-Offs as a % of Average Loans Historical FMBT net charge-offs have averaged only 14 bps per yea
Slide 13: Non-Interest Income Sources
Non-Interest Income Sources First Mid’s diverse sources of revenue provide stability in both rising and declining rate environments Securities Gains, Net Other 8% First Mid Wealth Management 25% Debit Card Revenue 16% Mortgage Banking Revenue 3% First Mid Insurance Group 33% Deposit Service Charges
Slide 14: Diversified Solutions and Sources of Revenue
Diversified Solutions and Sources of Revenue • Largest community bank-affiliated insurance • Integrated Wealth Management, Trust, and Ag agency in Illinois and top ten in the United States Services platform providing diversified, recurring • Broad product suite serving personal & revenue streams com
Slide 15: Diversified Solutions and Sources of Revenue
Diversified Solutions and Sources of Revenue $7.0 $32.3 $30 $6.0 $28.6 $5.0 $22.5 $22.8 $22.9 $24.8 $20.4 $20.8 $20 $21.6 $4.0 $17.5 $16.0 $18.9 $15.6 $16.2 $3.0 $10 $8.5 $2.0 $5.4 $5.9 $1.0 $5.1 $5.6 $4.6 $ in millions $3.9 $ in billions $3.5 $1.8 $2.1 $0 $0.0 2014 2015 2016 2017 2018 2019 2020 202
Slide 16: Enhanced Digital Solutions
Enhanced Digital Solutions First Mid is committed to delivering valued digital solutions that meet our Digital Availability customers’ expectations while enhancing their overall banking experience. Robust Website Positioned for the Future Full-Service Online Banking 2025 Mobile Banking Upgrade Sig
Slide 17: Strong Capital Position
Strong Capital Position Total Capital Ratio Capital levels remain strong and above the “well 15.99% capitalized” levels at quarter-end. 15.76% 15.67% 15.48% 15.41% TBV per share increased 3.7% to $31.15 during the second quarter. TBV per share has increased 17% over the past 12 months. Leveraged a s
Slide 18: Providing Shareholder Value
Providing Shareholder Value FMBH Shareholder Value 12.00% 11.3% Earnings Per Share $3.98 $4.00 $3.88 $3.77 Adjusted EPS $3.50 $3.47 10.00% $3.83 $3.50 Diluted EPS $3.60 $3.00 $3.30 8.00% 7.3% $2.74 $3.15 $2.87 $2.87 $2.50 $2.70 6.00% $2.52 $2.00 $2.13 4.00% $2.05 $1.50 2.00% $1.00 $0.50 0.00% Annual
Slide 19: Capital Management & Acquisitions
Capital Management & Acquisitions Capital Events April 2026 Paid down $7.5 million in subordinated debt March 2026-May 2026 Repurchased $1.4 million of shares Aug 2024 - Oct 2025 Strategically repurchased subordinated debt totaling $50 million October 2020 Raised $96 million through a public sub-deb
Slide 20: Experienced Acquirer
Experienced Acquirer Transaction Closed Closed Closed Closed Closed Closed Closed Closed Closed Closed Date 8/14/15 9/08/16 5/01/18 11/15/18 4/21/20 2/22/21 9/10/21 2/14/22 8/15/23 2/28/26 Transaction $16 $89 $72 $70 $161 $107 $94 $104 --- --- Value Million Million Million Million Million Million Mi
Slide 21: Experienced Management Team
Experienced Management Team Matthew K. Smith Michael L. Taylor Chief Executive Officer & President SEVP, Chief Operating Officer Matt joined First Mid in 2016. Mike joined First Mid in 2000. Jordan D. Read Bradley L. Beesley Clay M. Dean EVP, Chief Executive Officer EVP, Chief Financial Officer & EV
Slide 22: Board of Directors
Board of Directors Joseph R. Dively Matthew K. Smith Executive Chairman of the Board, Chief Executive Officer & President First Mid Bancshares, Inc. First Mid Bancshares, Inc. Holly B. Adams Robert S. Cook Zachary I. Horn Lead Independent Director Chair, Nominating and President and Founder, Preside
Slide 23: Key Financial Metrics
Key Financial Metrics
Slide 24: Selected Balance Sheet Data
Selected Balance Sheet Data Selected Balance Sheet Data ($000s) ASSETS Q2'2026 2025 2024 2023 2022 2021 Cash and cash equivalents $303,853 $254,920 $121,216 $143,064 $152,433 $168,602 Investment securities 1,290,563 1,085,499 1,073,510 1,179,402 1,223,720 1,431,299 Net loans 6,847,353 5,936,499 5,60
Slide 25: Selected Income Statement Data
Selected Income Statement Data Selected Income Statement Data ($000s) Q2 2026 2025 2024 2023 2022 2021 Interest income $114,884 $372,990 $357,379 $300,166 $215,891 $183,013 Interest expense 35,225 116,825 128,651 106,703 31,614 15,262 Net interest income 79,659 256,165 228,728 193,463 184,277 167,75
Slide 26: Non-GAAP Measures
Non-GAAP Measures
Slide 27: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 27
Slide 28: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 28