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Dec 31, 2024
First Mid Q4 2024 Earnings Report
Revenue growth and interest expense management drove an increase in adjusted earnings.
Key Takeaways
First Mid Bancshares reported a solid increase in adjusted earnings for Q4 2024, driven by revenue growth and effective interest expense management, despite higher provision expense. Net interest margin expanded, and noninterest income rose to 31% of revenues. Wealth management, insurance, and Ag Services contributed significantly to the strong performance.
Net interest income increased by $1.4 million, or 2.4% compared to the third quarter of 2024.
Net interest margin increased 6 basis points to 3.41% for the fourth quarter of 2024.
Total loans ended the quarter at $5.67 billion, representing an increase of $57.9 million, or 1.0% compared to the prior quarter.
Noninterest income for the fourth quarter of 2024 was $26.4 million compared to $23.0 million in the prior quarter.
Revenue by Segment
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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