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Sep 30, 2023
First Mid Q3 2023 Earnings Report
Announced solid core results and completed the acquisition of Blackhawk Bank.
Key Takeaways
First Mid Bancshares announced solid core results for Q3 2023, which included the acquisition of Blackhawk Bank on August 15th, adding approximately $1.2 billion in deposits and $730.2 million in loans. The company's net interest income increased, driven by the Blackhawk acquisition and loan repricing.
Net interest income increased by $8.1 million, or 19.1% compared to the second quarter of 2023.
Total loans ended the quarter at $5.54 billion, representing an increase of $726.6 million.
Total deposits ended the quarter at $6.35 billion, which represented an increase of $1.13 billion.
Noninterest income for the third quarter of 2023 was $23.1 million compared to $19.5 million in the second quarter of 2023.
Forward Guidance
This document may contain certain forward-looking statements about First Mid, such as discussions of First Mid’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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