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Mar 31, 2022
First Mid Q1 2022 Earnings Report
Announced first quarter 2022 results with strong earnings across diversified revenue streams, highlighted by the closing of the Delta acquisition and growth in wealth management and insurance.
Key Takeaways
First Mid Bancshares reported strong first-quarter earnings, driven by diversified revenue streams and the acquisition of Delta. The company saw growth in wealth management and insurance, with assets under management increasing to $5.4 billion. Loan growth was 1.1%, normalized for acquired and PPP loans. Capital levels remained strong and comfortably above the "well capitalized" levels.
Strong earnings driven by diversified revenue streams.
Closed the Delta acquisition, expanding retail presence in the St. Louis Metro area.
Wealth management group had a great quarter with assets under management increasing to $5.4 billion.
Loan growth was 1.1%, normalized for acquired and Paycheck Protection Program (“PPP”) loans.