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Dec 31, 2023
First Mid Q4 2023 Earnings Report
First Mid reported strong financial results, driven by the inclusion of Blackhawk and improved net interest margin.
Key Takeaways
First Mid Bancshares, Inc. announced strong fourth-quarter results, boosted by the inclusion of Blackhawk and strategic balance sheet repositioning. The merger of Blackhawk into First Mid Bank & Trust was completed, enhancing net interest income and overall financial performance.
Net interest income increased by $7.0 million, or 13.9%, compared to the third quarter of 2023.
Net interest margin improved to 3.33%, a 27 basis point increase from the prior quarter.
Total loans ended the quarter at $5.58 billion, representing an increase of $40.5 million.
Total deposits ended the quarter at $6.12 billion, a decrease of $222.7 million from the prior quarter.