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Mar 31, 2023
First Mid Q1 2023 Earnings Report
First Mid Bancshares, Inc. announced financial results for the quarter ended March 31, 2023.
Key Takeaways
First Mid Bancshares reported a solid start to the year, driven by unique income diversification and strategic initiatives, while managing industry challenges. The quarter was highlighted by a record performance in the insurance business, continued strength in asset quality, and an efficiency initiative to lower expenses.
Net interest income decreased by $2.5 million compared to the fourth quarter of 2022.
Total loans ended the quarter at $4.76 billion, a decrease of $65.6 million compared to the prior quarter.
Total deposits ended the quarter at $5.03 billion, a decrease of $226.2 million from the prior quarter.
Noninterest income increased to $22.5 million compared to $18.2 million in the fourth quarter of 2022, driven by insurance and wealth management revenues.
Revenue by Segment
Forward Guidance
This document may contain certain forward-looking statements about First Mid and Blackhawk, such as discussions of First Mid’s and Blackhawk’s pricing and fee trends, credit quality and outlook, liquidity, new business results, expansion plans, anticipated expenses and planned schedules.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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