Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

First Mid Bancshares, Inc. (Parent Company)
Balance Sheets	December 31,
	2023		2022
Assets
Cash	$	9,968	$	24,854
Premises and equipment, net		5,218		4,955
Investment in subsidiaries		907,989		714,237
Other assets		6,720		5,212
Total assets	$	929,895	$	749,258
Liabilities and stockholders’ equity
Liabilities
Debt	$	130,813	$	113,917
Other liabilities		5,878		2,186
Total liabilities		136,691		116,103
Stockholders’ equity		793,204		633,155
Total liabilities and stockholders’ equity	$	929,895	$	749,258

Condensed Statements of Income

First Mid Bancshares, Inc. (Parent Company)
Statements of Income and Comprehensive Income (Loss)	Years ended December 31,
	2023		2022			2021
Income:
Dividends from subsidiaries	$	51,213	$	34,040		$	28,075
Other income		87		542			9
Total income		51,300		34,582			28,084
Operating expenses		12,192		9,221			9,630
Income before income taxes and equity in undistributed earnings of subsidiaries		39,108		25,361			18,454
Income tax benefit		3,453		2,780			2,656
Income before equity in undistributed earnings of subsidiaries		42,561		28,141			21,110
Equity in undistributed earnings of subsidiaries		26,374		44,811			30,380
Net income		68,935		72,952			51,490
Other comprehensive income (loss), net of taxes		15,080		(150,676	)		(17,926	)
Comprehensive income (loss)	$	84,015	$	(77,724	)	$	33,564

Condensed Statements of Cash Flows

First Mid Bancshares, Inc. (Parent Company)
Statements of Cash Flows	Years ended December 31,
	2023			2022			2021
Cash flows from operating activities:
Net income	$	68,935		$	72,952		$	51,490
Adjustments to reconcile net income to net
Cash provided by operating activities:
Depreciation, amortization, accretion, net		265			218			350
Dividends received from subsidiary		51,213			34,040			28,075
Equity in undistributed earnings of subsidiaries		(26,374	)		(44,811	)		(30,380	)
Increase in other assets		(49,606	)		(208,359	)		(206,880	)
Increase (decrease) in other liabilities		1,526			(146	)		1,760
Net cash provided by (used in) operating activities		45,959			(146,106	)		(155,585	)
Cash flows from investing activities:
Net cash from (used in) business acquisition		(41,827	)		67,323			30,968
Net cash provided by (used in) investing activities		(41,827	)		67,323			30,968
Cash flows from financing activities:
Proceeds from issuance of common stock		1,004			93,415			46,128
Payment to repurchase common stock		(465	)		(340	)		(326	)
Direct expense related to capital transactions		—			(29	)		(206	)
Dividends paid on common stock		(19,557	)		(17,830	)		(14,721	)
Net cash provided by (used in) financing activities		(19,018	)		75,216			30,875
Increase (decrease) in cash		(14,886	)		(3,567	)		(93,742	)
Cash at beginning of year		24,854			28,421			122,163
Cash at end of year	$	9,968		$	24,854		$	28,421