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Jun 30, 2024
First Mid Q2 2024 Earnings Report
Announced strong financial results for Q2 2024 and expanded noninterest income with the acquisition of MRIG.
Key Takeaways
First Mid Bancshares, Inc. reported a strong second quarter with solid loan growth and superior asset quality. The acquisition of MRIG is expected to deepen the company's Missouri presence and grow insurance revenues. Net interest income increased, and capital levels remained strong.
Net interest income increased by $1.3 million, or 2.3% compared to the first quarter of 2024.
Total loans ended the quarter at $5.56 billion, representing an increase of $61.3 million, or 1.1% compared to the prior quarter.
Total deposits ended the quarter at $6.12 billion, a decrease of $127.2 million, or 2.0% from the prior quarter.
Noninterest income for the second quarter of 2024 was $22.4 million.