Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Statements

Note 22 -- Parent Company Only Financial Statements

Presented below are condensed balance sheets, statements of income and cash flows for the Company (in thousands):

First Mid Bancshares, Inc. (Parent Company)
Balance Sheets	December 31,
	2022		2021
Assets
Cash	$	24,854	$	28,421
Premises and equipment, net		4,955		4,377
Investment in subsidiaries		714,237		713,296
Other assets		5,212		4,048
Total assets	$	749,258	$	750,142
Liabilities and stockholders’ equity
Liabilities
Debt	$	113,917	$	113,595
Other liabilities		2,186		2,653
Total liabilities		116,103		116,248
Stockholders’ equity		633,155		633,894
Total liabilities and stockholders’ equity	$	749,258	$	750,142

First Mid Bancshares, Inc. (Parent Company)
Statements of Income and Comprehensive Income (Loss)	Years ended December 31,
	2022			2021			2020
Income:
Dividends from subsidiaries	$	34,040		$	28,075		$	29,663
Other income		542			9			43
Total income		34,582			28,084			29,706
Operating expenses		9,221			9,630			4,697
Income before income taxes and equity in undistributed earnings of subsidiaries		25,361			18,454			25,009
Income tax benefit		2,780			2,656			1,231
Income before equity in undistributed earnings of subsidiaries		28,141			21,110			26,240
Equity in undistributed earnings of subsidiaries		44,811			30,380			19,030
Net income		72,952			51,490			45,270
Other comprehensive income (loss), net of taxes		(150,676	)		(17,926	)		8,735
Comprehensive income (loss)	$	(77,724	)	$	33,564		$	54,005

First Mid Bancshares, Inc. (Parent Company)
Statements of Cash Flows	Years ended December 31,
	2022			2021			2020
Cash flows from operating activities:
Net income	$	72,952		$	51,490		$	45,270
Adjustments to reconcile net income to net
Cash provided by operating activities:
Depreciation, amortization, accretion, net		218			350			104
Dividends received from subsidiary		34,040			28,075			29,663
Equity in undistributed earnings of subsidiaries		(44,811	)		(30,380	)		(19,030	)
Increase in other assets		(208,359	)		(206,880	)		(30,121	)
Increase in other liabilities		(146	)		1,760			1,349
Net cash provided by (used in) operating activities		(146,106	)		(155,585	)		27,235
Cash flows from investing activities:
Investment in subsidiary		—			—			(700	)
Net cash from business acquisition		67,323			30,968			—
Net cash provided by (used in) investing activities		67,323			30,968			(700	)
Cash flows from financing activities:
Repayment of short-term debt		—			—			(5,000	)
Proceeds from short-term debt		—			—			5,000
Issuance of subordinated debt		—			—			94,253
Proceeds from issuance of common stock		93,415			46,128			610
Payment to repurchase common stock		(340	)		(326	)		(213	)
Direct expense related to capital transactions		(29	)		(206	)		—
Dividends paid on common stock		(17,830	)		(14,721	)		(12,814	)
Net cash provided by financing activities		75,216			30,875			81,836
Increase (decrease) in cash		(3,567	)		(93,742	)		108,371
Cash at beginning of year		28,421			122,163			13,792
Cash at end of year	$	24,854		$	28,421		$	122,163