Parent Company Only Financial Statements (Tables)
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12 Months Ended |
Dec. 31, 2019 |
Condensed Financial Information Disclosure [Abstract] |
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Condensed balance sheets |
| | | | | | | | | | First Mid Bancshares, Inc. (Parent Company) | | | | | Balance Sheets | | December 31, | | | 2019 | | 2018 | Assets | | | | | Cash | | $ | 13,792 |
| | $ | 18,571 |
| Premises and equipment, net | | 3,564 |
| | 3,127 |
| Investment in subsidiaries | | 525,418 |
| | 498,544 |
| Other assets | | 4,529 |
| | 4,637 |
| Total Assets | | $ | 547,303 |
| | $ | 524,879 |
| Liabilities and Stockholders’ equity | | |
| | |
| Liabilities | | |
| | |
| Debt | | 18,858 |
| | 29,000 |
| Other liabilities | | 1,836 |
| | 20,015 |
| Total Liabilities | | 20,694 |
| | 49,015 |
| Stockholders’ equity | | 526,609 |
| | 475,864 |
| Total Liabilities and Stockholders’ equity | | $ | 547,303 |
| | $ | 524,879 |
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Condensed statements of income |
| | | | | | | | | | | | | | First Mid Bancshares, Inc. (Parent Company) | | | | | | | Statements of Income and Comprehensive Income | | Years ended December 31, | | | 2019 | | 2018 | | 2017 | Income: | | | | | | | Dividends from subsidiaries | | $ | 38,688 |
| | $ | 21,694 |
| | $ | 18,925 |
| Other income | | 12 |
| | 171 |
| | 1,227 |
| Total income | | 38,700 |
| | 21,865 |
| | 20,152 |
| Operating expenses | | 4,492 |
| | 5,424 |
| | 3,902 |
| Income before income taxes and equity in undistributed earnings of subsidiaries | | 34,208 |
| | 16,441 |
| | 16,250 |
| Income tax benefit | | 1,256 |
| | 1,274 |
| | 864 |
| Income before equity in undistributed earnings of subsidiaries | | 35,464 |
| | 17,715 |
| | 17,114 |
| Equity in undistributed earnings of subsidiaries | | 12,479 |
| | 18,885 |
| | 9,570 |
| Net income | | 47,943 |
| | 36,600 |
| | 26,684 |
| Other comprehensive income (loss), net of taxes | | 14,833 |
| | (4,169 | ) | | 3,525 |
| Comprehensive income | | $ | 62,776 |
| | $ | 32,431 |
| | $ | 30,209 |
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Condensed statements of cash flows |
| | | | | | | | | | | | | | First Mid Bancshares, Inc. (Parent Company) | | | | | | | Statements of Cash Flows | | Years ended December 31, | | | 2019 | | 2018 | | 2017 | Cash flows from operating activities: | | | | | | | Net income | | $ | 47,943 |
| | $ | 36,600 |
| | $ | 26,684 |
| Adjustments to reconcile net income to net | | |
| | |
| | |
| cash provided by operating activities: | | |
| | |
| | |
| Depreciation, amortization, accretion, net | | 125 |
| | 90 |
| | 82 |
| Dividends received from subsidiary | | 38,688 |
| | 21,694 |
| | 18,925 |
| Equity in undistributed earnings of subsidiaries | | (12,479 | ) | | (18,885 | ) | | (9,570 | ) | Increase in other assets | | (39,042 | ) | | (1,645 | ) | | (19,348 | ) | Increase in other liabilities | | (17,104 | ) | | 79 |
| | 733 |
| Net cash provided by operating activities | | 18,131 |
| | 37,933 |
| | 17,506 |
| | | | | | | | Cash flows from investing activities: | | | | | | | Investment in subsidiary | | (343 | ) | | (13,430 | ) | | — |
| Net cash from business acquisition | | 310 |
| | (29,321 | ) | | — |
| Net cash used in investing activities | | (33 | ) | | (42,751 | ) | | — |
| | | | | | | | Cash flows from financing activities: | | |
| | |
| | |
| Repayment of short-term debt | | — |
| | — |
| | (4,000 | ) | Repayment of long-term debt | | (10,310 | ) | | (10,313 | ) | | (3,750 | ) | Proceeds from issuance of common stock | | 589 |
| | 36,645 |
| | 4,399 |
| Payment to repurchase common stock | | (1,293 | ) | | (138 | ) | | (797 | ) | Direct expense related to capital transactions | | — |
| | (2,309 | ) | | (216 | ) | Dividends paid on common stock | | (11,863 | ) | | (8,792 | ) | | (7,228 | ) | Net cash provided by (used in) financing activities | | (22,877 | ) | | 15,093 |
| | (11,592 | ) | Increase (decrease) in cash | | (4,779 | ) | | 10,275 |
| | 5,914 |
| Cash at beginning of year | | 18,571 |
| | 8,296 |
| | 2,382 |
| Cash at end of year | | $ | 13,792 |
| | $ | 18,571 |
| | $ | 8,296 |
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