First Mid Bancshares Reports Record Quarterly Net Income

By Bobby Samwell • Thursday, July 24 12:07 • Permanent Link

First Mid Bancshares, Inc. (NASDAQ: FMBH) has released its financial results for the quarter ending June 30, 2025. The company reported record high quarterly net income of $23.4 million, or $0.98 diluted EPS, representing a quarterly increase of $0.05. Adjusted quarterly net income also rose to $23.7 million, or $0.99 diluted EPS. The net interest margin tax equivalent expanded to 3.72%, marking a 12 basis points quarterly increase, contributing to the fifth consecutive quarter of net interest income growth.

Total loans reached $5.77 billion, marking a quarterly increase of $68.1 million, or 1.20%, while total deposits stood at $6.19 billion, reflecting a quarterly increase of $59.8 million, or 0.98%. Tangible book value per share increased by 4.3% during the quarter.

The board of directors declared a $0.01 increase in the quarterly dividend to $0.25 per share. Net interest income for the second quarter of 2025 was $63.9 million, representing a 7.5% increase compared to the first quarter of 2025. The net interest margin on a tax equivalent basis was 3.72%, a 12 basis points increase over the prior quarter, driven by higher yields on earning assets while maintaining funding costs.

Total loans ended the quarter at $5.77 billion, reflecting a 1.2% increase from the prior quarter, well-diversified across various segments including construction and land development, farm real estate, residential real estate, agriculture operating lines, and commercial and industrial loans.

The allowance for credit losses ended the period at $71.2 million, with the ACL to total loans ratio at 1.23%. Nonperforming loans declined by $4.7 million to $21.9 million during the quarter, with special mention loans increasing by $7.8 million to $81.8 million and substandard loans increasing by $5.1 million to $39.0 million.

Noninterest income for the second quarter of 2025 was $23.6 million, down from $24.9 million in the first quarter of 2025. Noninterest expense for the second quarter totaled $54.8 million, compared to $54.5 million in the prior quarter.

The company's capital levels remained strong and above the "well capitalized" levels, with tangible book value per share increasing by 4.3% during the second quarter of 2025. The board of directors increased the quarterly dividend to $0.25 per share.

First Mid Bancshares, Inc. is a $7.7 billion community-focused organization providing a full suite of financial services across multiple states. Following these announcements, the company's shares moved -0.03%, and are now trading at a price of $38.89. For more information, read the company's full 8-K submission here.

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