Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2020

First Mid Bancshares, Inc. (Parent Company)
Balance Sheets	December 31,
	2020		2019
Assets
Cash	$	122,163	$	13,792
Premises and equipment, net		4,423		3,564
Investment in subsidiaries		553,150		525,418
Other assets		4,062		4,529
Total Assets	$	683,798	$	547,303
Liabilities and Stockholders’ equity
Liabilities
Debt	$	113,280	$	18,858
Other liabilities		2,290		1,836
Total Liabilities		115,570		20,694
Stockholders’ equity		568,228		526,609
Total Liabilities and Stockholders’ equity	$	683,798	$	547,303

First Mid Bancshares, Inc. (Parent Company)
Statements of Income and Comprehensive Income	Years ended December 31,
	2020		2019		2018
Income:
Dividends from subsidiaries	$	29,663	$	38,688	$	21,694
Other income		43		12		171
Total income		29,706		38,700		21,865
Operating expenses		4,697		4,492		5,424
Income before income taxes and equity in undistributed earnings of subsidiaries		25,009		34,208		16,441
Income tax benefit		1,231		1,256		1,274
Income before equity in undistributed earnings of subsidiaries		26,240		35,464		17,715
Equity in undistributed earnings of subsidiaries		19,030		12,479		18,885
Net income		45,270		47,943		36,600
Other comprehensive income (loss), net of taxes		8,735		14,833		(4,169	)
Comprehensive income	$	54,005	$	62,776	$	32,431

First Mid Bancshares, Inc. (Parent Company)
Statements of Cash Flows	Years ended December 31,
	2020			2019			2018
Cash flows from operating activities:
Net income	$	45,270		$	47,943		$	36,600
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation, amortization, accretion, net		104			125			90
Dividends received from subsidiary		29,663			38,688			21,694
Equity in undistributed earnings of subsidiaries		(19,030	)		(12,479	)		(18,885	)
Increase in other assets		(30,121	)		(39,042	)		(1,645	)
Increase in other liabilities		1,349			(17,104	)		79
Net cash provided by operating activities		27,235			18,131			37,933
Cash flows from investing activities:
Investment in subsidiary		(700	)		(343	)		(13,430	)
Net cash from business acquisition		0			310			(29,321	)
Net cash used in investing activities		(700	)		(33	)		(42,751	)
Cash flows from financing activities:
Repayment of short-term debt		(5,000	)		—			—
Proceeds from short-term debt		5,000			—			—
Repayment of long-term debt		—			(10,310	)		(10,313	)
Issuance of subordinated debt		94,253			—			—
Proceeds from issuance of common stock		610			589			36,645
Payment to repurchase common stock		(213	)		(1,293	)		(138	)
Direct expense related to capital transactions		—			—			(2,309	)
Dividends paid on common stock		(12,814	)		(11,863	)		(8,792	)
Net cash provided by (used in) financing activities		81,836			(22,877	)		15,093
Increase (decrease) in cash		108,371			(4,779	)		10,275
Cash at beginning of year		13,792			18,571			8,296
Cash at end of year	$	122,163		$	13,792		$	18,571