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Dec 31, 2022
First Mid Q4 2022 Earnings Report
Delivered strong results with exceptional loan growth and excellent credit quality, offsetting margin pressure with expense management and relationship-driven strategy.
Key Takeaways
First Mid Bancshares reported strong Q4 2022 results, highlighting exceptional loan growth and excellent credit quality. The company successfully integrated Jefferson Bank and Trust and managed to offset challenges from increased funding costs through stringent expense management.
Net interest income decreased by $2.6 million, or 5.4% compared to the third quarter of 2022.
Total loans ended the quarter at $4.83 billion, representing an increase of $105.9 million, or 2.2%, compared to the prior quarter.
Total deposits ended the quarter at $5.26 billion, which represented a decrease of $226.2 million, or 4.1%, from the prior quarter.
Noninterest income for the fourth quarter of 2022 was $18.2 million compared to $16.8 million in the third quarter of 2022.
Revenue by Segment
Forward Guidance
The pipeline remains solid, but we do anticipate it softening based on the macroeconomic conditions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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