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Sep 30, 2022
First Mid Q3 2022 Earnings Report
Announced third quarter results highlighted by solid loan growth and strong credit quality.
Key Takeaways
First Mid Bancshares reported solid loan growth and strong credit quality in its third quarter results. Diversified revenue sources, particularly wealth management and insurance, drove a year-over-year increase in noninterest income, offsetting lower mortgage banking revenues. Net interest income and margin also increased during the period.
Loan portfolio increased by $71.6 million compared to the prior quarter.
Total deposits increased by $164.2 million from the prior quarter.
Noninterest income increased $0.4 million, or 2.6%, compared to the third quarter of 2021.
Net interest margin increased by 1 basis point compared to the prior quarter.