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Jun 30, 2023
First Mid Q2 2023 Earnings Report
Second quarter results reflected the strength of diversification and the success of strategic initiatives.
Key Takeaways
First Mid Bancshares reported strong second-quarter results driven by relationship-driven model with growth in both loans and deposits, while maintaining strong asset quality metrics. The company received regulatory approval for the Blackhawk acquisition and completed the acquisition of PGIB Insurance.
Net interest income decreased by $0.8 million, or 1.9%, compared to the first quarter of 2023.
Total loans ended the quarter at $4.81 billion, representing an increase of $52.8 million, or 1.1%, compared to the prior quarter.
Total deposits ended the quarter at $5.22 billion, which represented an increase of $188.8 million, or 3.8% from the prior quarter.
Noninterest income for the second quarter of 2023 was $19.5 million compared to $22.5 million in the first quarter of 2023.