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Sep 30, 2021
First Mid Q3 2021 Earnings Report
Reported a strong quarter with record high quarterly earnings, driven by net organic loan growth and successful integration of acquired teams.
Key Takeaways
First Mid Bancshares, Inc. announced strong financial results for the third quarter of 2021, achieving a new record high in quarterly earnings. The quarter benefited from net organic loan growth, the integration of former Providence and new St. Louis based commercial lending teams, and an increase in net interest income.
Net interest income increased by $2.7 million, or 6.4%, compared to the second quarter of 2021.
Total loans ended the quarter at $3.95 billion, representing an increase of $151.5 million compared to the prior quarter.
Total deposits ended the quarter at $4.99 billion, which represented an increase of $249.2 million from the prior quarter.
Noninterest expense for the third quarter totaled $36.3 million compared to $46.0 million in the second quarter.
First Mid
First Mid
Forward Guidance
The company is preparing for a smooth transition and is excited about the opportunities and additional services the combined entity can provide to Delta’s customers and the broader St. Louis community