Exhibit 99

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First Mid-Illinois Bancshares, Inc. had a successful first quarter with diluted earnings per share increasing to $.46 per share as compared to $.40 per share for the first quarter of 2007, a 15% increase. Net income increased to $2,922,000 as compared to $2,594,000 in the first quarter of 2007. All share and per share information for the current and prior periods presented in this report have been adjusted to reflect the three-for-two stock split in the form of a 50% stock dividend completed in June 2007.

Growth in net interest income was the primary contributor to the increase in earnings. Net interest income increased to $8,502,000 as compared to $7,677,000 for the first quarter of 2007. This was the result of an improved net interest margin and modest growth of loans and deposits. The Company’s 2008 year-to-date net interest margin was 3.55% as compared to 3.41% for the first three months of 2007. This was the result of funding costs decreasing more quickly than asset yields. In addition, growth in loan balances to $738 million on March 31, 2008 from $709 million on March 31, 2007 led to increased interest income. The growth was primarily in commercial operating and commercial real estate loans. Since December 31, 2007, loan balances have declined as a result of seasonal paydowns on agricultural loans. In addition, deposit balances increased to $796 million from $778 million last March due to growth in money market account balances.

Non-interest income increased to $3,970,000 for the first quarter of 2008 as compared to $3,832,000 for the same period in 2007. Fees received on ATM and debit cards increased by $90,000 from the first quarter of 2007 due to  an overall increase in the number of electronic transactions. The Company now has 32 ATMs dispersed throughout its market area and customer usage of debit cards continues to increase. In addition, service charge income increased because of fees received on overdrafts. Trust revenues increased by $27,000 from the first quarter of 2007 due to greater revenue from farm agency accounts and increased employee benefit fees.

Non-interest expense increased to $7,785,000 compared with $7,531,000 for the first quarter of 2007. This increase is attributed to increases in compensation expense and expenses related to loan collections, including legal fees and other real estate expenses.

Credit quality remains of high importance to the Company and we continue to invest significant energies in this area. Our provision for loan losses amounted to $191,000 for the first three months of 2008 as compared to $186,000 last year. Net charge-offs were low  at $58,000 in the first quarter of 2008  compared to $31,000 for the same period last year. However, as general economic trends have declined, we have seen an increase in the level of non-performing loans. Non-performing loans were $8.3 million on March 31, 2008 as compared to $4 million on March 31, 2007. Much of this increase is due to the insufficient cash flows on commercial real estate loans of one borrower which totaled $2.9 million as of March 31, 2008.

We continue to make progress on our retail customer service and sales efforts. During the first quarter, each of our frontline staff completed customer service training. In addition, we introduced our new checking account lineup and are pleased with how our customers have received these products thus far.

As most shareholders already know, our organization lost a true friend on April 21, 2008 when Dr. Daniel E. Marvin, Jr. passed away. Dan first joined the board of our bank in 1980 and was one of the original organizers of First Mid-Illinois Bancshares, Inc. in 1981. He was always committed to First Mid--our customers, shareholders, employees and most importantly our values. He will be missed by all.

Thank you for your continued support of First Mid-Illinois Bancshares, Inc.

Sincerely,

/s/ William S. Rowland

Sincerely,

William S. Rowland

Chairman and Chief Executive Officer

April 30, 2008

First Mid-Illinois Bancshares, Inc.

1515 Charleston Avenue

Mattoon, Illinois 61938

217-234-7454

www.firstmid.com

CONDENSED CONSOLIDATED BALANCE SHEETS
	(unaudited)
(in thousands, except share data)	Mar 31			Dec 31
	2008			2007
Assets
Cash and due from banks	$	22,808		$	28,737
Federal funds sold and other interest-bearing deposits		41,905			2,386
Investment securities:
Available-for-sale, at fair value		169,783			184,033
Held-to-maturity, at amortized cost (estimated fair value of $1,062 and
$1,194 at March 31, 2008 and December 31, 2007, respectively)		1,043			1,178
Loans		737,841			748,161
Less allowance for loan losses		(6,251	)		(6,118	)
Net loans		731,590			742,043
Premises and equipment, net		15,210			15,520
Goodwill, net		17,363			17,363
Intangible assets, net		4,136			4,327
Other assets		17,322			20,751
Total assets	$	1,021,160		$	1,016,338
Liabilities and Stockholders’ Equity
Deposits:
Non-interest bearing	$	120,775		$	124,486
Interest bearing		674,932			646,097
Total deposits		795,707			770,583
Repurchase agreements with customers		54,251			68,300
Other borrowings		59,250			67,250
Junior subordinated debentures		20,620			20,620
Other liabilities		8,136			9,133
Total liabilities		937,964			935,886
Stockholders’ Equity:
Common stock ($4 par value; authorized 18,000,000 shares; issued
7,163,687 shares in 2008 and 7,135,113 shares in 2007)		28,655			28,450
Additional paid-in capital		23,941			23,308
Retained earnings		52,817			49,895
Deferred compensation		2,629			2,568
Accumulated other comprehensive income (loss)		1,815			1,096
Treasury stock at cost, 923,385 shares in 2008 and 858,396
in 2007		(26,661	)		(24,955	)
Total stockholders’ equity		83,196			80,452
Total liabilities and stockholders’ equity	$	1,021,160		$	1,016,338

CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands) (unaudited)
For the period ended March 31,	2008		2007
Interest income:
Interest and fees on loans	$	12,354	$	12,172
Interest on investment securities		2,122		2,269
Interest on federal funds sold & other deposits		311		85
Total interest income		14,787		14,526
Interest expense:
Interest on deposits		4,850		5,290
Interest on repurchase agreements with customers		368		577
Interest on other borrowings		701		587
Interest on subordinated debt		366		395
Total interest expense		6,285		6,849
Net interest income		8,502		7,677
Provision for loan losses		191		186
Net interest income after provision for loan losses		8,311		7,491
Non-interest income:
Trust revenues		744		717
Brokerage commissions		99		112
Insurance commissions		709		699
Services charges		1,321		1,270
Securities gains (losses), net		151		139
Mortgage banking revenues		108		121
Other		838		774
Total non-interest income		3,970		3,832
Non-interest expense:
Salaries and employee benefits		4,124		4,076
Net occupancy and equipment expense		1,235		1,217
Amortization of intangible assets		191		217
Other		2,235		2,021
Total non-interest expense		7,785		7,531
Income before income taxes		4,496		3,792
Income taxes		1,574		1,198
Net income	$	2,922	$	2,594
Per Share Information (unaudited)
For the year ended March 31,	2008		2007
Basic earnings per share	$	0.47	$	0.40
Diluted earnings per share	$	0.46	$	0.40
Book value per share at March 31	$	13.33	$	12.01
Market price of stock at March 31	$	25.50	$	27.63

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(In thousands) (unaudited)
For the period ended March 31,	2008			2007
Balance at beginning of period	$	80,452		$	75,786
Net income		2,922			205949
Dividends on stock		-			7
Issuance of stock		677			827
Purchase of treasury stock		(1,645	)		(3,008	)
Deferred compensation and other adjustments		71			174
Changes in accumulated other comprehensive income (loss)		719			99
Balance at end of period	$	83,196		$	76,479