Repurchase Agreements and Other Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Repurchase Agreements And Other Borrowings [Abstract]

Schedule of Borrowings

As of December 31, 2023 and 2022 borrowings consisted of the following (in thousands):

	2023		2022
Securities sold under agreements to repurchase	$	213,721	$	221,414
Federal Home Loan Bank-overnight		-		65,000
Federal Home Loan Bank (FHLB) fixed-term advances		263,787		400,071
Subordinated debt		106,755		94,553
Junior subordinated debentures		24,058		19,364
Total	$	608,321	$	800,402

Aggregate Annual Maturities of Long-Term Borrowings

Aggregate annual maturities of FHLB advances and debt (excluding unamortized discounts and premiums) at December 31, 2023 are (in thousands):

			Subordinated			Jr. Subordinated
	FHLB		Debt			Debentures
2024	$	60,000	$	—		$	—
2025		8,606		—			4,124
2026		25,000		—			—
2027		50,000		—			—
2028		100,000		—			—
Thereafter		20,000		111,000			21,651
		263,606		111,000			25,775
Unamortized discount		181		(4,245	)		(1,717	)
	$	263,787	$	106,755		$	24,058

Federal Home Loan Bank, Advances

FHLB advances represent borrowings by First Mid Bank to fund loan demand. At December 31, 2023 the advances totaling $263.6 million were as follows:

Advance	Term (in years)	Interest Rate	Maturity Date
$25,000,000	1.5	4.69%	May 10, 2024
25,000,000	2.0	4.59%	November 8, 2024
10,000,000	5.0	1.45%	December 31, 2024
5,000,000	5.0	0.91%	March 10, 2025
3,605,826	10.0	2.64%	December 23, 2025
25,000,000	3.0	4.40%	June 15, 2026
50,000,000	4.0	3.49%	December 8, 2027
25,000,000	5.0	3.47%	March 13, 2028
25,000,000	5..0	3.67%	June 15, 2028
25,000,000	5.0	3.82%	June 29, 2028
25,000,000	5.0	3.95%	June 29, 2028
5,000,000	10.0	1.15%	October 3, 2029
5,000,000	10.0	1.12%	October 3, 2029
10,000,000	10.0	1.39%	December 31, 2029

Securities Underlying the Repurchase Agreements

(In thousands)	2023		2022		2021
Securities sold under agreements to repurchase:
Maximum outstanding at any month-end	$	231,650	$	257,061	$	212,503
Average amount outstanding for the year		225,307		202,242		173,762

Schedule of Securities Financing Transactions

Repurchase agreements by class of collateral pledged are as follows (in thousands):

	December 31, 2023		December 31, 2022
US Treasury securities and obligations of U.S. government corporations and agencies	$	46,544	$	47,775
Mortgage-backed securities: GSE: residential		167,177		173,639
Total	$	213,721	$	221,414