<SEC-DOCUMENT>0001171843-21-006849.txt : 20211005
<SEC-HEADER>0001171843-21-006849.hdr.sgml : 20211005
<ACCEPTANCE-DATETIME>20211005101655
ACCESSION NUMBER:		0001171843-21-006849
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20211005
DATE AS OF CHANGE:		20211005

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST MID BANCSHARES, INC.
		CENTRAL INDEX KEY:			0000700565
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				371103704
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-259634
		FILM NUMBER:		211305409

	BUSINESS ADDRESS:	
		STREET 1:		1515 CHARLESTON AVE
		STREET 2:		PO BOX 499
		CITY:			MATTOON
		STATE:			IL
		ZIP:			61938
		BUSINESS PHONE:		2172347454

	MAIL ADDRESS:	
		STREET 1:		1515 CHARLESTON AVENUE
		STREET 2:		PO BOX 499
		CITY:			MATTOON
		STATE:			IL
		ZIP:			61938

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST MID ILLINOIS BANCSHARES INC
		DATE OF NAME CHANGE:	20040326

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST-MID ILLINOIS BANCSHARES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>f424b3_100521.htm
<DESCRIPTION>FORM 424B3
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #FF4040"><FONT STYLE="color: Black">Filed
pursuant to Rule 424(b)(3)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #FF4040"><FONT STYLE="color: Black">Registration
Statement 333-259634</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #FF4040">&nbsp;</P>

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    <TD STYLE="width: 50%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: Red"><IMG SRC="delta.jpg" ALT=""></P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">PROXY
STATEMENT OF Delta Bancshares Company </FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">PROSPECTUS
OF First Mid Bancshares, Inc. </FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">______________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Merger Proposal&#8212;Your Vote Is Important</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="text-transform: uppercase">DEAR Delta Bancshares
Company STOCKHOLDERS: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You are cordially invited to attend a special
meeting of stockholders of Delta Bancshares Company, which will be held on October 28, 2021 at 3:00 p.m., local time at the Missouri
Athletic Club West Clubhouse, 1777 Des Peres Rd., St. Louis, Missouri 63131.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the meeting, you will be asked to approve the
Agreement and Plan of Merger, dated July 28, 2021, as it may be amended from time to time (which we refer to as the &#8220;merger agreement&#8221;),
among Delta Bancshares Company (&#8220;Delta&#8221;), First Mid Bancshares, Inc. (&#8220;First Mid&#8221;) and Brock Sub LLC, a newly
formed wholly-owned subsidiary of First Mid (&#8220;Merger Sub&#8221;), that provides for First Mid&#8217;s acquisition of Delta through
the merger of Delta with and into Merger Sub, with Merger Sub as the surviving entity and a wholly-owned subsidiary of First Mid (the
&#8220;merger&#8221;). In the proposed merger, each issued and outstanding share of Delta common stock will be converted into, and become
the right to receive $352.26 per share in cash without interest and 55.1061 shares of validly issued, fully paid and nonassessable shares
of First Mid common stock, par value $4.00 per share stock (the &#8220;Stock Consideration&#8221;), together with cash in lieu of fractional
shares, less any applicable taxes required to be withheld and subject to certain adjustments set forth in, and subject to the terms of,
the merger agreement, and as described in detail in this proxy statement/prospectus. Additionally, Delta&#8217;s outstanding stock options
will be fully vested upon consummation of the merger, and all outstanding Delta stock options that are unexercised prior to the effective
time of the merger will be cashed out pursuant to the terms of the merger agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">While the final consideration amount calculated
as of closing of the merger is not yet known at this time, based on the closing price of First Mid&#8217;s common stock of $39.90 on July
28, 2021, and the 41,420.3 shares of Delta common stock outstanding as of July 28, 2021, the date of the merger agreement (and the last
trading day preceding the public announcement of the merger), and assuming approximately 581 equity award equivalent shares (which are
shares of Delta common stock underlying the 581 outstanding Delta stock options being cashed out at the closing of the merger), Delta
stockholders are expected to receive total aggregate merger consideration from First Mid of approximately $106 million, consisting of
approximately $14.59 million in cash <I>plus</I> approximately $91.07 million in the form of First Mid common stock, subject to receipt
of cash in lieu of fractional shares, <I>plus</I> approximately $500,000&nbsp;in cash in consideration for outstanding Delta stock options
cashed out at the closing of the merger.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger consideration is subject to potential
adjustment in three circumstances. First, if the consolidated balance sheet delivered by Delta to First Mid as of the last day of the
month preceding the closing date of the merger, or as of three business days prior to the closing date of the merger if such date is more
than three business days following the last day of the preceding month, reflects consolidated shareholders&#8217; equity less than $75,411,189
(as computed and adjusted in accordance with the merger agreement), for every $50,000 shortfall thereof, the cash consideration will be
reduced by $1.21 per share. As of June 30, 2021, Delta&#8217;s consolidated stockholders&#8217; equity as computed in accordance with
generally accepted accounting principles (&#8220;GAAP&#8221;) was $75,411,189. As of the date of this proxy statement/prospectus, the
parties are not aware of any existing facts or circumstances that would cause the consolidated stockholders&#8217; equity included in
the closing consolidated balance sheet to be less than $75,411,189. Second, if at any time during the five business day period commencing
on the fifteenth business day preceding the closing date of the merger, the average closing price of a share of First Mid common stock
is less than $31.42 and decreases by more than 20% in relation to the Nasdaq Bank Index, Delta will have the right to terminate the merger
agreement unless First Mid elects to increase the exchange ratio pursuant to the formula described in the section of the proxy statement/prospectus
entitled &#8220;Description of the Merger Agreement&#8212;Merger Consideration&#8221;. Third, if, prior to the effective time, the number
of shares of First Mid common stock are changed into a different number of shares or a different class of shares pursuant to any reclassification,
recapitalization, split-up, combination, exchange of shares or readjustment, or if a stock dividend thereof shall be declared with a record
date within such period, an appropriate and proportionate adjustment shall be made to the exchange ratio so as to provide the holders
of Delta common stock with the same economic effect as contemplated by the merger agreement prior to such event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon the effectiveness of the merger, each share
of issued and outstanding Delta common stock shall no longer be outstanding and shall automatically be cancelled and retired and shall
cease to exist. Each certificate formerly representing any share of Delta common stock and each uncertificated share registered to a holder
on the stock transfer books of Delta shall thereafter represent only the right to receive the merger consideration described above and
herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon closing of the merger, assuming no adjustment
in the number of shares of First Mid common stock to be issued in the merger pursuant to the terms of the merger agreement, we expect
that the former stockholders of Delta will own approximately 11.2% of First Mid&#8217;s issued and outstanding common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid&#8217;s common stock currently
trades on the Nasdaq Global Select Market under the symbol &#8220;FMBH.&#8221; On September 29, 2021, the latest practicable date
before the printing of this proxy statement/prospectus, the closing price of First Mid common stock was $41.07 per share. The shares
of First Mid common stock issued pursuant to the merger will be registered under the Securities Act of 1933, as amended (which we
refer to as the &#8220;Securities Act&#8221;), and will trade on the Nasdaq Global Select Market. Delta&#8217;s common stock is not
traded on any established public trading market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We cannot complete the merger unless we obtain
the necessary governmental approvals and unless the stockholders of Delta approve the merger agreement and the transactions contemplated
therein. <B>The board of directors of Delta has unanimously approved the merger and recommends that Delta&#8217;s stockholders vote &#8220;FOR&#8221;
approval of the merger agreement and the transactions contemplated therein to be considered at the special meeting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The place, date and time of the Delta stockholders&#8217;
meeting are as follows:</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Missouri
Athletic Club West Clubhouse</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">1777 Des Peres Rd.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">St. Louis, Missouri 63131</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">October 28, 2021</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">3:00 p.m. Central time</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This proxy statement/prospectus contains a more
complete description of the Delta stockholders&#8217; meeting and the terms of the merger. You may also obtain information about First
Mid from documents that it has filed with the Securities and Exchange Commission (which we refer to as the &#8220;SEC&#8221;). We urge
you to review this entire document carefully. This document also serves as the prospectus for up to 2,321,582 shares of First Mid common
stock that may be issued by First Mid in connection with the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase"><B>Your
vote is important, regardless of the number of shares that you own</B></FONT><B>. </B>Whether or not you plan to attend Delta&#8217;s
stockholders&#8217; meeting, please take the time to vote by following the voting instructions on the enclosed proxy form. Submitting
a proxy now will not prevent you from being able to vote in person at Delta&#8217;s special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>You should read this entire proxy statement/prospectus
carefully because it contains important information about the merger. In particular, you should read carefully the information under the
section entitled &#8220;Risk Factors&#8221; beginning on page 18.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Thank you for your cooperation and continued support.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Sincerely,</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><P STYLE="margin-top: 0; margin-bottom: 0"><IMG SRC="mjr.jpg" ALT=""></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0">Michael J. Ross<BR> <I>Chairman and President <BR> </I>Delta
Bancshares Company</P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>Neither the SEC nor any state securities regulatory
body has approved or disapproved of the securities to be issued under this proxy statement/prospectus or determined if this proxy statement/prospectus
is truthful or complete. Any representation to the contrary is a criminal offense. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>The securities to be issued in connection with
the merger are not savings or deposit accounts or other obligations of any bank or nonbank subsidiary of any of the parties, and they
are not insured by the Federal Deposit Insurance Corporation (the &#8220;FDIC&#8221;) or any other governmental agency. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>This proxy statement/prospectus is dated October
5</B>, 2021<B>, and is first being mailed to Delta&#8217;s stockholders on or about October 8</B>, 2021<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Delta
Bancshares Company</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>2301 Market Street</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>St. Louis, Missouri 63103</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><B>(314) 621-0100</B></TD></TR>
  </TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_____________________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Notice of Special Meeting of Stockholders </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Date: </b>October 28, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Time: </B>3:00 p.m., local time</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Place: </B>Missouri
Athletic Club West Clubhouse, 1777 Des Peres Rd., St. Louis, Missouri 63131</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Delta Stockholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOTICE IS HEREBY GIVEN that Delta Bancshares
Company (&#8220;Delta&#8221;) will hold a special meeting of stockholders on October 28, 2021 at 3:00 p.m., local time, at Missouri
Athletic Club West Clubhouse, 1777 Des Peres Rd., St. Louis, Missouri 63131. The
purpose of the meeting is to consider and vote on the following matters:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a proposal to approve the Agreement and Plan of Merger, dated as of July 28, 2021, among Delta, First Mid Bancshares, Inc. (&#8220;First
Mid&#8221;) and Brock Sub LLC, a wholly-owned subsidiary of First Mid (&#8220;Merger Sub&#8221;), pursuant to which Delta will merge with
and into Merger Sub with Merger Sub as the surviving entity and a wholly-owned subsidiary of First Mid, and the transactions contemplated
therein;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the approval to adjourn the special meeting to permit further solicitation in the event that an insufficient number of votes are cast
to approve the merger agreement and the transactions contemplated therein; and</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>to transact any other business that properly comes before the special meeting, or any adjournments or postponements thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of record of Delta common stock at
the close of business on September 28, 2021 are entitled to receive this notice and to vote at the special meeting and any
adjournments or postponements thereof. Approval of the merger agreement and the transactions contemplated therein requires the
affirmative vote of the holders of at least two-thirds of the outstanding shares of Delta common stock entitled to vote. Approval of
the Delta proposal to adjourn the special meeting requires the affirmative vote of the holders of a majority of the shares of Delta
common stock present in person or represented by proxy and entitled to vote on the proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The board of directors of Delta unanimously recommends
that you vote &#8220;FOR&#8221; approval of the merger agreement and the transactions contemplated therein, and &#8220;FOR&#8221; approval
to adjourn the special meeting to permit further solicitation in the event that an insufficient number of votes are cast to approve the
merger agreement and the transactions contemplated therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Your vote is important. I encourage you to attend
the meeting in person. <B>Whether or not you plan to attend the meeting, please act promptly to vote your shares.&nbsp;&nbsp;You may vote
your shares by completing, signing and dating the proxy form and returning it by mail to the attention of Marilyn J. Oberkramer at Delta
in the postage prepaid envelope provided, via fax to (314) 621-1267 or via email attachment to </B>marilyn.oberkramer@jbt-stl.com<B>.&nbsp;&nbsp;</B>Please
review the instructions for each of your voting options described in this proxy statement/prospectus. If you attend the meeting, you may
vote your shares in person, even if you have previously submitted a proxy.&nbsp;Submitting a proxy will ensure that your shares are represented
at the meeting. We look forward with pleasure to seeing and visiting with you at the meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You will be sent a letter of transmittal separately
on a later date. Please do not send in your stock certificates at this time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under Missouri law, if the merger is completed,
Delta stockholders of record who do not vote to approve the merger agreement, and otherwise comply with the applicable provisions of Missouri
law pertaining to dissenting stockholders, will be entitled to exercise rights of appraisal and obtain payment for the fair value of their
shares of Delta common stock. A copy of the section of the General and Business Corporation Law of Missouri pertaining to objecting stockholders&#8217;
rights of appraisal (also known as dissenters&#8217; rights) is included as <I>Appendix B</I> to this proxy statement/prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%">By Order of the Board of Directors,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="color: Red"><IMG SRC="mjr.jpg" ALT=""></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">Michael J. Ross</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"><I>Chairman and President</I></P>
        <P STYLE="margin-top: 0; margin-bottom: 0">Delta Bancshares Company<BR> October 5, 2021</P></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REFERENCES TO ADDITIONAL INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This proxy statement/prospectus incorporates important
business and financial information about First Mid from documents filed with the SEC that are not included in or delivered with this proxy
statement/prospectus. For a listing of the documents incorporated by reference into this proxy statement/prospectus, please see the section
entitled &#8220;Incorporation of Certain First Mid Documents by Reference&#8221; beginning on page 80. Delta has not incorporated any
information into this proxy statement/prospectus by reference. You can obtain any of the documents filed with or furnished to the SEC
by First Mid, free of charge, from the SEC&#8217;s website at <I>http://www.sec.gov</I>. You may also request copies of these documents,
including documents incorporated by reference in this proxy statement/prospectus by First Mid, free of charge, by contacting First Mid
at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><B>First Mid Bancshares, Inc.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">1421 Charleston Avenue</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Mattoon, Illinois 61938</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Attention: Investor Relations</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Telephone:&nbsp;&nbsp;(217) 258-0463</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The section of this proxy statement/prospectus
entitled &#8220;Where You Can Find More Information&#8221; beginning on page 79 has additional information about obtaining copies of documents
that First Mid has filed or furnished to the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><b>You will not be charged for any of these documents
that you request. To obtain timely delivery of these documents, you must request them no later than five business days before the date
of the Delta special meeting. This means that documents must be requested by  October 21, 2021 in order to receive them before the Delta
special meeting.</b></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ABOUT THIS PROXY STATEMENT/PROSPECTUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This document, which forms part of a registration
statement on Form&nbsp;S-4 filed with the SEC by First Mid (File No.&nbsp;333-259634), constitutes a prospectus of First Mid under Section&nbsp;5
of the Securities Act, with respect to the shares of common stock, par value $4.00 per share, of First Mid, which we refer to as &#8220;First
Mid common stock,&#8221; to be issued pursuant to the Agreement and Plan of Merger, dated as of July 28, 2021, by and among First Mid,
Merger Sub and Delta, as it may be amended from time to time, which we refer to as the &#8220;merger agreement.&#8221; This document also
constitutes a proxy statement of Delta under Section&nbsp;14(a) of the Securities Exchange Act of 1934, as amended, which we refer to
as the &#8220;Exchange Act.&#8221; It also constitutes a notice of meeting with respect to the special meeting of stockholders at which
Delta stockholders will be asked to consider and vote upon (a)&nbsp;the proposal to approve the merger agreement and the transactions
contemplated therein, and (b)&nbsp;the proposal to adjourn or postpone the Delta special meeting, if necessary or appropriate, for among
other reasons, the solicitation of additional proxies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid has supplied all information contained
or incorporated by reference into this proxy statement/prospectus relating to First Mid, and Delta has supplied all information contained
in this proxy statement/prospectus relating to Delta. Delta has not incorporated any information into this proxy statement/prospectus
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You should rely only on the information
contained in, or incorporated by reference into, this document. No one has been authorized to provide you with information that is
different from that contained in, or incorporated by reference into, this document. This document is dated October 5, 2021, and you
should assume that the information in this document is accurate only as of such date. You should assume that the information
incorporated by reference into this document is accurate as of the date of such incorporated document. Neither the mailing of this
document to Delta stockholders nor the issuance by First Mid of shares of First Mid common stock in connection with the merger will
create any implication to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>This document does not constitute an offer to
sell, or a solicitation of an offer to buy, any securities, or the solicitation of a proxy, in any jurisdiction to or from any person
to whom it is unlawful to make any such offer or solicitation in such jurisdiction.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right"><B>Page</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; width: 90%"><A HREF="#a_001">QUESTIONS AND ANSWERS ABOUT THE MERGER</A></TD>
    <TD STYLE="text-align: right; width: 10%"><A HREF="#a_001">1</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_002">SUMMARY</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_002">7</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_003">Information about First Mid and Delta</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_003">7</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_004">The merger and the merger agreement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_004">8</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_005">What Delta stockholders will receive as consideration in the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_005">8</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_006">Potential adjustment of merger consideration</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_006">8</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_007">Treatment of Delta stock options</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_007">9</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_008">Material U.S. federal income tax consequences of the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_008">9</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_009">Opinion of financial advisor to Delta</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_009">9</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_010">Delta&rsquo;s reasons for the merger; Board recommendation to Delta&rsquo;s stockholders</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_010">10</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_011">Interests of officers and directors of Delta in the merger may be different from, or in addition to, yours</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_011">10</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_012">Delta stockholders will have dissenters&rsquo; rights in connection with the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_012">10</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_013">The merger and the performance of the combined company are subject to a number of risks</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_013">10</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_014">Delta stockholder approval will be required to complete the merger and approve the other proposals set forth in the notice</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_014">10</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_015">Completion of the merger is subject to regulatory approvals</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_015">11</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_016">Conditions to the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_016">11</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_017">How the merger agreement may be terminated by First Mid and Delta</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_017">13</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_018">A termination fee may be payable by Delta under some circumstances</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_018">14</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_019">Voting agreement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_019">14</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_020">Accounting treatment of the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_020">14</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_021">Certain differences in First Mid stockholder rights and Delta stockholder rights</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_021">14</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_022">Management of First Mid after the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_022">14</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_023">First Mid shares will be listed on Nasdaq</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_023">15</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_024">Risk Factors</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_024">15</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_025">SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA OF FIRST MID</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_025">16</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_026">COMPARATIVE PER SHARE MARKET PRICE AND DIVIDEND INFORMATION</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_026">17</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_027">RISK FACTORS</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_027">18</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_028">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_028">23</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_029">NON-GAAP FINANCIAL INFORMATION</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_029">25</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_030">INFORMATION ABOUT THE SPECIAL MEETING OF Delta STOCKHOLDERS</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_030">26</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_031">Purpose</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_031">26</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_032">Record date, shares entitled to vote, required vote, quorum</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_032">26</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_033">How to vote your shares</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_033">27</A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center">(continued)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right"><B>Page</B></P>

<P STYLE="margin: 0">&nbsp;</P>
<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left; width: 90%"><A HREF="#a_034">Revocation of proxies</A></TD>
    <TD STYLE="text-align: right; width: 10%"><A HREF="#a_034">27</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_035">Proxy solicitation</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_035">27</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_036"><FONT STYLE="text-transform: uppercase">THE Delta PROPOSALS</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_036">27</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_037">Proposal 1&mdash;Approval of the Merger Agreement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_037">27</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_038">Proposal 2&mdash;Adjournment of the Special Meeting</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_038">28</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_039">THE MERGER</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_039">29</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_040">General</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_040">29</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_041">Background of the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_041">29</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_042">Delta&rsquo;s reasons for the merger and recommendation of the board of directors</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_042">33</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_043">Opinion of Financial Advisor to Delta</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_043">35</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_044">First Mid&rsquo;s reasons for the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_044">48</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_045">Accounting treatment of the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_045">49</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_046">Regulatory approvals</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_046">49</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_047">Interests of certain persons in the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_047">50</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_048">Restrictions on resale of First Mid common stock</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_048">51</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_049">Delta stockholder dissenters&rsquo; rights</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_049">51</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_050">MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE MERGER</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_050">54</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_051">DESCRIPTION OF THE MERGER AGREEMENT</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_051">58</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_052">General</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_052">58</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_053">Closing and effective time</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_053">58</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_054">Merger consideration</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_054">58</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_055">Exchange procedures</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_055">61</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_056">Voting agreement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_056">61</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_057">Conduct of business pending the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_057">62</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_058">Certain covenants of the parties</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_058">64</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_059">No solicitation of or discussions relating to an acquisition proposal</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_059">65</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_060">Representations and warranties</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_060">65</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_061">Conditions to completion of the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_061">66</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_062">Termination</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_062">68</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_063">Termination fee</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_063">69</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_064">Management of First Mid after the merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_064">70</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_065">Nasdaq stock listing</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_065">70</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 60pt; text-align: left"><A HREF="#a_066">Amendment</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_066">70</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_067"><FONT STYLE="text-transform: uppercase">SECURITY OWNERSHIP OF DIRECTORS AND OFFICERS AND CERTAIN BENEFICIAL
    OWNERS OF Delta</FONT></A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_067">71</A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table
of Contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: center">(continued)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right"><B>Page</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.75pt; text-align: right">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left; width: 90%"><A HREF="#a_068"><FONT STYLE="text-transform: uppercase">COMPARISON OF RIGHTS OF FIRST Mid STOCKHOLDERS AND
    Delta STOCKHOLDERS</FONT></A></TD>
    <TD STYLE="text-align: right; width: 10%"><A HREF="#a_068">73</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_069">STOCKHOLDER PROPOSALS</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_069">79</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_070">LEGAL MATTERS</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_070">79</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_071">EXPERTS</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_071">79</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_072">WHERE YOU CAN FIND MORE INFORMATION</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_072">79</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt; text-align: left"><A HREF="#a_073">INCORPORATION OF CERTAIN FIRST MID DOCUMENTS BY REFERENCE</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_073">80</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"><A HREF="#a_appa">Appendix A &ndash; Merger Agreement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_appa">A-1</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"><A HREF="#a_appb">Appendix B &ndash; Section 351.455 of the GBCLM - Dissenters&rsquo; Rights</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_appb">B-1</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"><A HREF="#a_appc">Appendix C &ndash; Form of Voting Agreement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_appc">C-1</A></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"><A HREF="#a_appd">Appendix D &ndash; Opinion of Piper Sandler &amp; Co.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#a_appd">D-1</A></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-transform: uppercase; text-indent: -0.5in">&nbsp;</P>





<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_001"></A>QUESTIONS
AND ANSWERS ABOUT THE MERGER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following questions and answers are intended
to briefly address some commonly asked questions regarding the merger, the merger agreement and the Delta special meeting. We urge you
to read carefully the remainder of this proxy statement/prospectus because the information in this section may not provide all the information
that might be important to you in determining how to vote. Additional important information is also contained in the appendices to, and
the documents incorporated by reference in, this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>What is the proposed transaction?</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD STYLE="text-align: justify">You are being asked to vote on the approval of a merger agreement that provides for the acquisition
of Delta by First Mid through the merger of Delta with and into a wholly-owned subsidiary of First Mid (which we refer to as &#8220;Merger
Sub&#8221;), with Merger Sub as the surviving entity. The merger is anticipated to be completed in late 2021. Following the completion
of the merger, Merger Sub will be merged with and into First Mid, with First Mid as the surviving entity. At a time to be determined
by First Mid, First Mid will cause the merger of Jefferson Bank and Trust Company, a Missouri chartered bank and wholly-owned subsidiary
of Delta (&#8220;Jefferson Bank&#8221;), with and into First Mid Bank &amp; Trust, N.A., a nationally chartered bank and wholly-owned
bank subsidiary of First Mid (&#8220;First Mid Bank&#8221;) (which we refer to as the &#8220;bank merger&#8221;), with First Mid Bank
being the surviving entity. At such time, Jefferson Bank&#8217;s banking offices will become banking offices of First Mid Bank. Until
the banks are merged, First Mid will own and operate Jefferson Bank and First Mid Bank as separate bank subsidiaries.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>What will Delta stockholders be entitled to receive in the merger?</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>If the merger is completed, each share of Delta common stock issued and outstanding immediately prior to the effective time of the
merger (other than shares owned by Delta as treasury stock and any dissenting shares), will be converted into the right to receive $352.26
per share in cash without interest and 55.1061 shares of validly issued, fully paid and nonassessable shares of First Mid common stock
(the &#8220;Stock Consideration&#8221;), subject to certain adjustments as set forth in, and subject to the terms of, the merger agreement.
Additionally, Delta&#8217;s outstanding stock options will be fully vested upon consummation of the merger, and all outstanding Delta
stock options that are unexercised prior to the effective time of the merger will be cashed out pursuant to the terms of the merger agreement.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">While the final consideration amount calculated
as of closing of the merger is not yet known at this time, based on the closing price of First Mid&#8217;s common stock of $39.90 on July
28, 2021, and the 41,420.3 shares of Delta common stock outstanding as of July 28, 2021, the date of the merger agreement (and the last
trading day preceding the public announcement of the merger), and assuming approximately 581 equity award equivalent shares (which are
shares of Delta common stock underlying the 581 outstanding Delta stock options being cashed out at the closing of the merger), Delta
stockholders are expected to receive total aggregate merger consideration from First Mid of approximately $106 million, consisting of:
approximately $14.59 million in cash <I>plus</I> approximately $91.07 million in the form of First Mid common stock, subject to receipt
of cash in lieu of fractional shares, <I>plus</I> approximately $500,000&nbsp;in cash in consideration for outstanding Delta stock options
cashed out at the closing of the merger. Only whole shares of First Mid common stock will be issued in the merger. As a result, cash will
be paid instead of any fractional shares in an amount, rounded to the nearest whole cent, determined by multiplying the Closing First
Mid Common Stock Price (defined below) by the fractional share of First Mid common stock to which such former holder of Delta common stock
would otherwise be entitled. Shares of Delta common stock held by Delta stockholders who elect to exercise their dissenters&#8217; rights
(which we refer to as &#8220;dissenting shares&#8221;) will not be converted into merger consideration.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>Will Delta stockholders receive stock certificates representing the shares of First Mid common stock that they receive as stock
consideration?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>No. Stock consideration will be issued as book-entry shares of First Mid common stock. If you receive stock consideration in the merger
and would prefer to hold your First Mid common stock in certificated form, following completion of the merger, you may request stock certificates
from the Exchange Agent.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>Is the merger consideration subject to adjustment?</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD STYLE="text-align: justify">The merger consideration is subject to potential adjustment in three circumstances. First,
if the consolidated balance sheet delivered by Delta to First Mid as of the last day of the month preceding the closing date of the merger,
or as of three business days prior to the closing date of the merger if such date is more than three business days following the last
day of the preceding month, reflects consolidated shareholders&#8217; equity less than $75,411,189 (as computed and adjusted in accordance
with the merger agreement), for every $50,000 shortfall thereof, the cash consideration will be reduced by $1.21 per share. As of June
30, 2021, Delta&#8217;s consolidated stockholders&#8217; equity as computed in accordance with generally accepted accounting principles
(&#8220;GAAP&#8221;) was $75,411,189. As of the date of this proxy statement/prospectus, the parties are not aware of any existing facts
or circumstances that would cause the consolidated stockholders&#8217; equity included in the closing consolidated balance sheet to be
less than $75,411,189. Second, if at any time during the five business day period commencing on the fifteenth business day preceding
the closing date of the merger, the average closing price of a share of First Mid common stock is less than $31.42 and decreases by more
than 20% in relation to the Nasdaq Bank Index, Delta will have the right to terminate the merger agreement unless First Mid elects to
increase the exchange ratio pursuant to the formula described in the section of the proxy statement/prospectus entitled &#8220;Description
of the Merger Agreement&#8212;Merger Consideration&#8221;. Third, if, prior to the effective time, the number of shares of First Mid
common stock are changed into a different number of shares or a different class of shares pursuant to any reclassification, recapitalization,
split-up, combination, exchange of shares or readjustment, or if a stock dividend thereof shall be declared with a record date within
such period, an appropriate and proportionate adjustment shall be made to the exchange ratio so as to provide the holders of Delta common
stock with the same economic effect as contemplated by the merger agreement prior to such event.</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>What is the value of the per share merger consideration?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>The per share value of the merger consideration constituting cash
is $352.26. The per share value of the merger consideration constituting First Mid common stock to be received by Delta stockholders
will fluctuate as the market price of First Mid common stock fluctuates before the completion of the merger. This price will not be known
at the time of the Delta special meeting and may be more or less than the current price of First Mid common stock or the price of First
Mid common stock at the time of the special meeting. Based on the closing stock price of First Mid common stock on the Nasdaq Global
Select Market on July 28, 2021, the last trading day preceding the public announcement of the merger, of $39.90, the implied value of
the per share merger consideration constituting First Mid common stock was $2,198.73. Based on the closing stock price of First Mid common
stock on the Nasdaq Global Select Market on September 29, 2021, the latest practicable date before the mailing of this proxy statement/prospectus,
of $41.07, the value of the per share merger consideration constituting First Mid common stock was $2,263.21<b>. </b>We urge you to obtain current
market quotations for shares of First Mid common stock.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>How will Delta stock options be treated in the merger?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Delta&#8217;s outstanding stock options will be fully vested upon the effective time of the merger, and all outstanding Delta stock
options that are unexercised prior to the effective time of the merger will be automatically cancelled and the holder of such Delta stock
option will receive a cash payment (without interest) equal to the product of (a) the excess, if any, of (i) $352.26, <I>plus</I> (ii)
the Closing First Mid Common Stock Price multiplied by the Stock Consideration that would otherwise be payable for each share of Delta
common stock issuable had each such option been exercised immediately prior to the closing of the merger, <I>minus</I> (iii) the exercise
price per share of such Delta stock option, and (b) the number of shares of Delta common stock issuable upon exercise of such Delta stock
option (we refer to this amount as the &#8220;option consideration&#8221;). &#8220;Closing First Mid Common Stock Price&#8221; means the
weighted average of the daily closing sales prices of a share of First Mid common stock as reported on the Nasdaq Global Select Market
for the ten consecutive trading days immediately preceding the closing date. As of the effective time of the merger, all Delta stock options,
whether or not vested or exercisable, will no longer be outstanding and shall automatically cease to exist, and the holder of Delta stock
options will cease to have any rights with respect to such Delta stock option, except the right to receive the option consideration; provided
that, if the exercise price of such Delta stock option is equal to or greater than the aggregate of clauses (a)(i) and (a)(ii) above,
such Delta stock option shall be cancelled without any payment of option consideration being made. The option consideration will be paid
in cash.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>Why do Delta and First Mid want to engage in the merger?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Delta believes that the merger will provide Delta stockholders with substantial benefits, and First Mid believes that the merger will
further its strategic growth plans. To review the reasons for the merger in more detail, see &#8220;The Merger&#8212;Delta&#8217;s reasons
for the merger and recommendation of the board of directors&#8221; on page 33 and &#8220;The Merger&#8212;First Mid&#8217;s reasons for
the merger&#8221; on page 48.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>In addition to approving the merger agreement, what else are Delta stockholders being asked to vote on?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>In addition to the merger agreement and the transactions contemplated therein, Delta is also soliciting proxies from holders of its
common stock with respect to a proposal to adjourn the Delta special meeting to permit further solicitation in the event that an insufficient
number of votes are cast to approve the merger agreement and the transactions contemplated therein. Completion of the merger is not conditioned
upon approval of the Delta adjournment proposal.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>What does the Delta board of directors recommend?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Delta&#8217;s board of directors has determined that the merger agreement and the transactions contemplated therein are in the best
interests of Delta and its stockholders. Delta&#8217;s board of directors unanimously recommends that you vote &#8220;<B>FOR</B>&#8221;
the approval of the merger agreement and the transactions contemplated therein, and &#8220;<B>FOR</B>&#8221; the approval to adjourn the
special meeting to permit further solicitation in the event that an insufficient number of votes are cast to approve the merger agreement
and the transactions contemplated therein. To review the reasons for the merger in more detail, see &#8220;The Merger&#8212;Delta&#8217;s
reasons for the merger and recommendation of the board of directors&#8221; on page 33.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Do any of Delta&#8217;s executive officers or directors have interests
in the merger that may differ from those of the Delta stockholders?</B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">The interests of some of the directors and executive officers of Delta may
be different from those of Delta stockholders, and the directors and officers of Delta may be participants in arrangements that are different
from, or are in addition to, those of Delta stockholders. The members of the Delta&#8217;s board of directors knew about these additional
interests and considered them among other matters, when making its decision to approve the merger agreement, and in recommending that
Delta&#8217;s common stockholders vote in favor of adopting the merger agreement. See &#8220;The Merger-Interests of certain persons in
the merger&#8221; on page 50</FONT>.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>What vote is required to approve each proposal at the Delta special meeting?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Approval of the merger agreement and the transactions contemplated therein requires the affirmative vote of the holders of at least
two-thirds of the outstanding shares of Delta common stock entitled to vote. As described on page 61, pursuant to a voting agreement entered
into by Delta&#8217;s directors and executive officers, beneficial owners of approximately 59% of the shares of Delta common stock, Delta&#8217;s
directors and executive officers have agreed to vote in favor of the merger in accordance with the terms that agreement. Abstentions,
shares not voted and broker non-votes will have the same effect as a vote against the proposal to approve the merger agreement. Approval
of the Delta proposal to adjourn the special meeting requires the affirmative vote of a majority of the shares of Delta common stock present
in person or represented by proxy and entitled to vote on the adjournment. Abstentions will have the same effect as a vote against the
proposal to adjourn the special meeting, while shares not voted and broker non-votes will have no effect on the outcome of the proposal
to adjourn the special meeting.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>Why is my vote important?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>The merger cannot be completed unless the merger agreement is approved by Delta stockholders. If you fail to submit a proxy or vote
in person at the special meeting, or vote to abstain, or you do not provide your broker, bank or other fiduciary with voting instructions,
as applicable, this will have the same effect as a vote against the approval of the merger agreement. The board of directors of Delta
unanimously recommends that Delta&#8217;s stockholders vote for &#8220;<B>FOR</B>&#8221; the proposal to approve the merger agreement.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>What do I need to do now? How do I vote?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>You may vote at the special meeting if you own shares of Delta common stock of record at the close of business on the record
                                                                 date for the special meeting, September 28, 2021. Please review the instructions for each of your voting options described on your
                                                                 proxy form. After you have carefully read and considered the information contained in this proxy statement/prospectus, please vote
                                                                 or submit your proxy to vote by a method described on your proxy form. This will enable your shares to be represented at the special
                                                                 meeting. You may also vote in person at the special meeting. If you do not vote by proxy and do not vote at the special meeting,
                                                                 this will make it more difficult to achieve a quorum for the meeting.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>How will my proxy be voted?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>If you properly submit your proxy to vote by a method described on your proxy form, your proxy will be voted in accordance with your
instructions. If you sign, date and send in your proxy form, but you do not indicate how you want to vote, your proxy will be voted &#8220;<B>FOR&#8221;</B>
approval of the merger agreement and the other proposals in the notice of the special meeting of the stockholders for Delta, as appropriate.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>Can I revoke my proxy and change my vote?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>You may change your vote or revoke your proxy prior to the special meeting by filing with the corporate secretary of Delta, as appropriate,
a duly executed revocation of proxy or submitting a new proxy with a later date. You may also revoke a prior proxy by voting in person
at the applicable special meeting.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>Are there risks I should consider in deciding to vote on the approval of the merger agreement?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Yes, in evaluating the merger agreement and the transactions contemplated therein, you should read this proxy statement/prospectus
carefully, including the factors discussed in the section titled &#8220;Risk Factors&#8221; beginning on page 18.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>What if I oppose the merger? Do I have dissenters&#8217; rights?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Delta stockholders may assert appraisal rights (also referred to as dissenters&#8217; rights) in connection with the merger and, upon
complying with the requirements of the General and Business Corporation Law of Missouri (which we refer to as the &#8220;GBCLM&#8221;),
receive cash in the amount of the &#8220;fair value&#8221; of their shares of Delta common stock instead of the merger consideration.
This &#8220;fair value&#8221; could be more than the merger consideration but could also be less. See &#8220;The Merger&#8212;Delta stockholder
dissenters&#8217; rights.&#8221; A copy of the applicable section of the GBCLM is attached as <I>Appendix&nbsp;B</I> to this document.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>What are the material tax consequences of the merger to U.S. holders of Delta Common Stock? </B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Each of Schiff Hardin LLP and Armstrong Teasdale LLP</FONT> have
                                                                 delivered opinions, dated September 17, 2021, to <FONT STYLE="font-family: Times New Roman, Times, Serif">the effect that the merger
                                                                 qualifies as a &#8220;reorganization&#8221; pursuant to Section 368(a) of the Internal Revenue Code of 1986, as amended (which we
                                                                 refer to as the &#8220;Internal Revenue Code&#8221;). </FONT>In addition, th<FONT STYLE="font-family: Times New Roman, Times, Serif">e
                                                                 completion of the merger is conditioned on receipt of a tax opinion from each of Schiff Hardin LLP and Armstrong Teasdale LLP, dated
                                                                 as of the closing date, to the same effect as the opinions described in the preceding sentence. However, neither Delta nor First Mid
                                                                 has requested or received a ruling from the Internal Revenue Service that the merger will qualify as a reorganization. Delta
                                                                 stockholders will recognize gain, but not loss, if they exchange their Delta shares for a combination of First Mid common stock and
                                                                 cash, but their taxable gain in that case will not exceed the cash they receive in the merger.</FONT> <B>The tax consequence of the
                                                                 merger to each Delta stockholder will depend on such Delta stockholder&#8217;s own situation. You should consult with your tax
                                                                 advisor for the specific tax consequences of the merger to you. </B>See &#8220;Material U.S. Federal Income Tax Consequences of the
                                                                 Merger&#8221; on page&nbsp;54.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>When and where is the Delta special meeting?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>The Delta special meeting will take place on October 28, 2021, at 3:00 p.m. local time, at the Missouri
Athletic Club West Clubhouse, 1777 Des Peres Rd., St. Louis, Missouri 63131.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>Who may attend the Delta special meeting?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Only Delta stockholders on the record date, which is September 28, 2021, may attend the special meeting. If you are a stockholder
                                                                 of record, you will need to present the proxy form that you received or another proof of identification in order to be admitted into
                                                                 the meeting.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Should I send in my Delta stock
certificates now?</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">No. First Mid has engaged Computershare Trust Company, N.A. (who we refer
to as the exchange agent) to act as its exchange agent to handle the exchange of Delta common stock for the merger consideration. As promptly
as practicable after the closing date, the exchange agent will mail to each Delta certificated record holder, other than dissenting stockholders,
a letter of transmittal for use in the exchange with instructions explaining how to surrender Delta common stock certificates to the exchange
agent. Holders of Delta common stock who cannot locate their stock certificates should follow the instructions set forth in the letter
of transmittal for lost or stolen stock certificates.&nbsp;<B>Do not send your stock certificates with your proxy card.</B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>Whom may I contact if I cannot locate my Delta stock certificate(s)?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>If you are unable to locate your original Delta stock certificate(s), you should follow the instructions set forth in the letter of
transmittal that will be mailed to you within two (2) business days of the closing date with respect to lost certificates.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD><B>What should I do if I hold my shares of Delta common stock in book-entry form?</B></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>You should follow the instructions set forth in the letter of transmittal that will be mailed to you within two (2) business days
of the closing date with respect to shares of Delta common stock held in book-entry form..</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>What should I do if I receive
more than one set of voting materials?</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Delta stockholders may receive more than one set of voting materials, including multiple copies of this proxy statement/prospectus
and multiple proxy forms or voting instruction cards. For example, if you hold shares of Delta common stock in more than one brokerage
account, you will receive a separate voting instruction card for each brokerage account in which you hold such shares. If your shares
of Delta common stock are registered in more than one name, you may receive more than one proxy form. All joint owners must sign the proxy
form. Please complete, sign, date and return each proxy form and voting instruction card that you receive or otherwise follow the voting
instructions set forth in this proxy statement/prospectus to ensure that you vote every share of Delta common stock that you own.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>When is the merger expected to be completed?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>We will try to complete the merger as soon as reasonably possible. Before that happens, the merger agreement must be approved by stockholders
of Delta and we must obtain the necessary regulatory approvals. Assuming Delta stockholders vote to approve the merger and adopt the merger
agreement and we obtain the other necessary approvals and satisfaction or waiver of the other conditions to the closing described in the
merger agreement, we expect to complete the merger in late 2021. See &#8220;Description of the Merger Agreement&#8212;Conditions to completion
of the merger&#8221; on page 66.</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>Is completion of the merger subject to any conditions besides stockholder approval?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Yes. The transaction must receive the required regulatory approvals and there are other standard closing conditions that must be satisfied.
See &#8220;Description of the Merger Agreement&#8212;Conditions to completion of the merger&#8221; on page 66.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>What happens if the merger is not completed?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>Neither Delta nor First Mid can assure you of when or if the merger will be completed. If the merger is not completed, Delta stockholders
will not receive any consideration for their shares of Delta common stock and will continue to be holders of Delta common stock. Each
of Delta and First Mid will remain independent companies. Under certain circumstances, Delta may be required to pay First Mid a fee with
respect to the termination of the merger agreement, as described under &#8220;Description of the Merger Agreement&#8212;Termination fee&#8221;
on page 69.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0; text-align: right"></TD><TD STYLE="width: 0.5in"><B>Q:</B></TD><TD STYLE="text-align: justify"><B>Who can answer my other questions?</B></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>A:</B></TD><TD>If you have more questions about the merger you should contact John Dulle, Executive Vice President, at (314) 621-0100. If you have
more questions about how to submit your proxy, or if you need additional copies of this proxy statement/prospectus or the enclosed proxy
form, you should contact Marilyn Oberkramer, corporate secretary, at (314) 621-0100.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; border-left: Black 1pt solid"><A NAME="a_002"></A>SUMMARY</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid"><I>&nbsp;</I></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid"><I>This summary highlights selected information
in this proxy statement/prospectus and may not contain all of the information that is important to you. To understand the merger more
fully, you should read this entire proxy statement/prospectus carefully, including the appendices and the documents referred to or incorporated
in this proxy statement/prospectus. A copy of the merger agreement is attached as Appendix&nbsp;A to this proxy statement/prospectus and
is incorporated by reference herein. See &#8220;Incorporation of Certain First Mid Documents by Reference&#8221; and &#8220;Where You
Can Find More Information&#8221; beginning on pages 80 and 79 respectively.</I></P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><A NAME="a_003"></A>Information about First Mid and Delta</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-left: Black 1pt solid"><B><I>First Mid Bancshares, Inc.</I></B></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-left: Black 1pt solid">1421 Charleston Avenue</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-left: Black 1pt solid">Mattoon, Illinois 61938</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-left: Black 1pt solid">Telephone: (217) 258-0463</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-left: Black 1pt solid"><B>&nbsp;</B></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">First Mid Bancshares, Inc., formerly known as First
Mid-Illinois Bancshares, Inc., is a Delaware corporation and registered financial holding company. First Mid is engaged in the business
of banking through its wholly-owned subsidiaries, First Mid Bank &amp; Trust, N.A., a nationally chartered commercial bank headquartered
in Mattoon, Illinois and formerly known as First Mid-Illinois Bank &amp; Trust, N.A. (&#8220;First Mid Bank&#8221;). First Mid also offers
insurance products and services to customers through its wholly-owned subsidiary, First Mid Insurance Group, Inc. First Mid offers trust,
farm services, investment services, and retirement planning through its wholly-owned subsidiary, First Mid Wealth Management Company.
First Mid also wholly owns a captive insurance company, First Mid Captive, Inc. In addition, First Mid also wholly owns three statutory
business trusts, First Mid-Illinois Statutory Trust II, Clover Leaf Statutory Trust I, and FBTC Statutory Trust I, all of which are unconsolidated
subsidiaries of First Mid.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">&nbsp;</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">As of June 30, 2021, First Mid had total assets
of approximately $5.8 billion, total gross loans, including loans held for sale, of approximately $3.8 billion, total deposits of approximately
$4.7 billion and total stockholders&#8217; equity of approximately $616 million.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Merger
Sub is a Delaware limited liability company and a wholly-owned subsidiary of First Mid formed on July 13</FONT>, 2021<FONT STYLE="font-family: Times New Roman, Times, Serif">,
for the purpose of effecting the merger, pursuant to the merger agreement. </FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">First Mid common stock is traded on the Nasdaq
Global Select Market under the ticker symbol &#8220;FMBH.&#8221;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-left: Black 1pt solid"><B><I>Delta Bancshares Company</I></B></P>

<P STYLE="border-right: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-left: Black 1pt solid">2301 Market Street</P>

<P STYLE="border-right: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-left: Black 1pt solid">St. Louis, Missouri 63103</P>

<P STYLE="border-right: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-left: Black 1pt solid">(314) 621- 0100</P>


<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">Delta, headquartered in St. Louis, Missouri, is
a Missouri corporation and a privately-held, $697 million asset bank holding company for its wholly-owned subsidiary, Jefferson Bank and
Trust Company (&#8220;Jefferson Bank&#8221;), which provides community banking services primarily in the St. Louis metropolitan area,
and surrounding counties.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">As of June 30, 2021, Delta had total assets of
approximately $697,035,076; total gross loans of approximately $484,037,459; total deposits of approximately $545,481,162; and total stockholders&#8217;
equity of approximately $75,411,189.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">Delta&#8217;s common stock is not traded on any
established public trading market.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_004"></A>The merger and the merger agreement</B> <FONT STYLE="font-weight: normal">(See
page 58) </FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">First Mid&#8217;s acquisition of Delta is governed
by a merger agreement. The merger agreement provides that, if all of the conditions set forth in the merger agreement are satisfied or
waived, Delta will merge with and into Merger Sub, a wholly-owned subsidiary of First Mid, and Merger Sub will be the surviving entity.
The separate corporate existence of Delta will terminate as a result of the merger. The merger is anticipated to be completed in late
2021. Following the completion of the merger, Merger Sub will be merged with and into First Mid, with First Mid as the surviving entity.
At a time to be determined by First Mid, First Mid will cause the merger of Jefferson Bank with and into First Mid Bank, with First Mid
Bank being the surviving entity. At such time, Jefferson Bank&#8217;s banking offices will become banking offices of First Mid Bank. Until
the banks are merged, First Mid will own and operate Jefferson Bank and First Mid Bank as separate bank subsidiaries.</P>

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<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">The merger agreement is included as <I>Appendix&nbsp;A</I>
to this proxy statement/prospectus and is incorporated by reference herein. We urge you to read the merger agreement carefully and fully,
as it is the legal document that governs the merger.</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_005"></A>What Delta stockholders will receive as consideration
in the merger</B> <FONT STYLE="font-weight: normal">(See page 58)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">If the merger is completed, each share of Delta
common stock issued and outstanding immediately prior to the effective time of the merger (other than shares owned by Delta as treasury
stock and any dissenting shares) will be converted into the right to receive, per share of Delta common stock, $352.26 in cash without
interest and 55.1061 of First Mid common stock (the &#8220;Stock Consideration&#8221;), subject to certain adjustments set forth in the
merger agreement. While the final consideration amount calculated as of closing of the merger is not yet known at this time, based on
the closing price of First Mid&#8217;s common stock of $39.90 on July 28, 2021, and the 41,420.3 shares of Delta common stock outstanding
as of July 28, 2021, the date of the merger agreement (and the last trading day preceding the public announcement of the merger), and
assuming approximately 581 equity award equivalent shares (which are shares of Delta common stock underlying the 581 outstanding Delta
stock options being cashed out at the closing of the merger), Delta stockholders are expected to receive total aggregate merger consideration
from First Mid of approximately $106 million, consisting of: approximately $14.59 million in cash <I>plus</I> approximately $91.07 million
in the form of First Mid common stock, subject to receipt of cash in lieu of fractional shares, <I>plus</I> $500,000&nbsp;in cash in consideration
for outstanding Delta stock options cashed out at the closing of the merger. Cash will be paid instead of any fractional shares in an
amount, rounded to the nearest whole cent, determined by multiplying the Closing First Mid Common Stock Price by the fractional share
of First Mid common stock to which such former holder would otherwise be entitled. Shares of Delta common stock held by Delta stockholders
who elect to exercise their dissenters&#8217; rights will not be converted into merger consideration.</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_006"></A>Potential adjustment of merger consideration</B>
<FONT STYLE="font-weight: normal">(See page 58)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">The merger consideration is subject to potential
adjustment in three circumstances. First, if the consolidated balance sheet delivered by Delta to First Mid as of the last day of the
month preceding the closing date of the merger, or as of three business days prior to the closing date of the merger if such date is more
than three business days following the last day of the preceding month, reflects consolidated shareholders&#8217; equity less than $75,411,189
(as computed and adjusted in accordance with the merger agreement), for every $50,000 shortfall thereof, the cash consideration will be
reduced by $1.21 per share. As of June 30, 2021, Delta&#8217;s consolidated stockholders&#8217; equity as computed in accordance with
generally accepted accounting principles (&#8220;GAAP&#8221;) was $75,411,189. As of the date of this proxy statement/prospectus, the
parties are not aware of any existing facts or circumstances that would cause the consolidated stockholders&#8217; equity included in
the closing consolidated balance sheet to be less than $75,411,189. Second, if at any time during the five business day period commencing
on the fifteenth business day preceding the closing date of the merger, the average closing price of a share of First Mid common stock
is less than $31.42 and decreases by more than 20% in relation to the Nasdaq Bank Index, Delta will have the right to terminate the merger
agreement unless First Mid elects to increase the exchange ratio pursuant to the formula described in the section of the proxy statement/prospectus
entitled &#8220;Description of the Merger Agreement&#8212;Merger Consideration&#8221;. Third, if, prior to the effective time, the number
of shares of First Mid common stock are changed into a different number of shares or a different class of shares pursuant to any reclassification,
recapitalization, split-up, combination, exchange of shares or readjustment, or if a stock dividend thereof shall be declared with a record
date within such period, an appropriate and proportionate adjustment shall be made to the exchange ratio so as to provide the holders
of Delta common stock with the same economic effect as contemplated by the merger agreement prior to such event.</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_007"></A>Treatment of Delta stock options</B> <FONT STYLE="font-weight: normal">(See
page 60) </FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Delta&#8217;s
outstanding stock options will be fully vested upon the effective time of the merger, and all outstanding Delta stock options that are
unexercised prior to the effective time of the merger will be automatically cancelled and the holder of such Delta stock option will receive
a cash payment (without interest) equal to the product of (a) the excess, if any, of (i) $352.26, plus (ii) the Closing First Mid Common
Stock Price multiplied by the Stock Consideration that would otherwise be payable for each share of Delta common stock issuable had each
such option been exercised immediately prior to the closing of the merger, minus (iii) the exercise price per share of such Delta stock
option, and (b) the number of shares of Delta common stock issuable upon exercise of such Delta stock option (we refer to this amount
as the &#8220;option consideration&#8221;). &#8220;Closing First Mid Common Stock Price&#8221; means the weighted average of the daily
closing sales prices of a share of First Mid common stock as reported on the Nasdaq Global Select Market for the ten consecutive trading
days immediately preceding the closing date. As of the effective time of the merger, all Delta stock options, whether or not vested or
exercisable, will no longer be outstanding and shall automatically cease to exist, and the holder of Delta stock options will cease to
have any rights with respect to such Delta stock option, except the right to receive the option consideration; provided that, if the exercise
price of such Delta stock option is equal to or greater than </FONT>the aggregate of clauses (a)(i) and (a)(ii) above<FONT STYLE="font-family: Times New Roman, Times, Serif">,
such Delta stock option shall be cancelled without any payment of option consideration being made. The option consideration will be paid
in cash. </FONT></P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_008"></A>Material U.S. federal income tax consequences
of the merger</B> <FONT STYLE="font-weight: normal">(See page 54)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">Delta
stockholders will recognize gain, but not loss, if they exchange their Delta shares for a combination of First Mid common stock and
cash, but their taxable gain in that case will not exceed the cash they receive in the merger. <B>The tax consequences of the merger
to each Delta stockholder will depend on such Delta stockholder&#8217;s own situation. Delta stockholders should consult with their
own tax advisors for a full understanding of the tax consequences of the merger to them</B>. Each of Schiff Hardin&nbsp;LLP and
Armstrong Teasdale LLP have delivered tax opinions, dated September 17, 2021, to the effect that the merger qualifies as a
reorganization under Section 368(a) of the Internal Revenue Code. In addition, the completion of the merger is conditioned on
receipt of a tax opinion from each of Schiff Hardin&nbsp;LLP and Armstrong Teasdale LLP, dated the closing date, to the same effect
as the opinions described in the preceding sentence. The opinions will not bind the Internal Revenue Service, which could take a
different view.</P>

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<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">See &#8220;Material U.S. Federal Income Tax Consequences
of the Merger&#8221; for a more detailed discussion of the tax consequences of the merger.</P>

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<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_009"></A>Opinion of financial advisor to Delta</B> (See
page 35)</P>

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<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">Delta retained Piper Sandler &amp; Co. (which we
refer to as &#8220;Piper Sandler&#8221;) to act as financial advisor to the Delta board of directors in connection with a potential transaction.
At the July 28, 2021, meeting of the Delta board of directors, a representative of Piper Sandler rendered Piper Sandler&#8217;s oral opinion,
which was subsequently confirmed by delivery of a written opinion to the Delta board of directors, dated July 28, 2021, to the effect
that, as of such date and subject to the procedures followed, assumptions made, matters considered and qualifications and limitations
on the review undertaken by Piper Sandler in rendering its opinion, the merger consideration was fair, from a financial point of view,
to the holders of Delta&#8217;s outstanding common stock.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-left: Black 1pt solid">The full text of Piper Sandler&#8217;s opinion, dated July 28, 2021,
which sets forth, among other things, the various qualifications, assumptions and limitations on the scope of the review undertaken, is
attached as Appendix D to this proxy statement/prospectus. Piper Sandler provided its opinion for the information and assistance of the
Delta board of directors (solely in its capacity as such) in connection with and for the purposes of its consideration of the merger and
the opinion only addressed the fairness, from a financial point of view, of the consideration to be received by the holders of Delta common
stock pursuant to the merger to such holders.&nbsp; Piper Sandler&#8217;s opinion did not address any other terms or aspect of the merger
agreement or the merger contemplated thereby. Piper Sandler&#8217;s opinion does not constitute a recommendation to the Delta board of
directors or any holder of Delta common stock as to how the board of directors, such stockholder or any other person should act, vote
or make any election with respect to the merger agreement, the merger or any other matter.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_010"></A>Delta&#8217;s reasons for the merger; board
recommendation to Delta&#8217;s stockholders</B> <FONT STYLE="font-weight: normal">(See page 33)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">Delta&#8217;s board of directors believes that
the merger agreement and the transactions contemplated therein are in the best interests of Delta and its stockholders. In particular,
the board believes that First Mid&#8217;s commitment to the community and the opportunity to provide Delta&#8217;s customers with access
to a larger banking network and an expanded array of services are particularly important. In addition, First Mid&#8217;s size offers greater
opportunities to deal with customer expectations related to technology, address increasing regulatory requirements and effectively compete
in an environment with changing marketplace demographics and untaxed credit union competition. Delta&#8217;s board of directors unanimously
recommends that Delta stockholders vote &#8220;<B>FOR</B>&#8221; the proposal to approve the merger agreement and &#8220;<B>FOR</B>&#8221;
adjournment of the Delta special meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at
the time of the special meeting to approve the merger agreement. See the section entitled &#8220;The Merger&#8212;Delta&#8217;s reasons
for the merger and recommendation of the board of directors&#8221; beginning on page 33 of this proxy statement/prospectus.</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_011"></A>Interests of officers and directors of Delta
in the merger may be different from, or in addition to, yours</B> <FONT STYLE="font-weight: normal">(See page 50)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">The interests of some of the directors and executive
officers of Delta may be different from those of Delta stockholders, and the directors and officers of Delta may be participants in arrangements
that are different from, or are in addition to, those of Delta stockholders. The members of the Delta board of directors knew about these
additional interests and considered them among other matters, when making its decision to approve the merger agreement, and in recommending
that Delta&#8217;s common stockholders vote in favor of adopting the merger agreement. See &#8220;The Merger&#8212;Interests of certain
persons in the merger&#8221; on page 50.</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_012"></A>Delta stockholders will have dissenters&#8217;
rights in connection with the merger</B> <FONT STYLE="font-weight: normal">(See page 51) </FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">Delta stockholders <FONT STYLE="font-family: Times New Roman, Times, Serif">may
assert dissenters&#8217; rights </FONT>in connection with the merger and, upon complying with the requirements of the GBCLM, receive cash
in the amount of the &#8220;fair value&#8221; of their shares of Delta common stock instead of the merger consideration. This &#8220;fair
value&#8221; could be more than the merger consideration but could also be less. See &#8220;The Merger&#8212;Delta stockholder dissenters&#8217;
rights&#8221; on page 51.</P>

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<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">A copy of the applicable sections of the GBCLM
is attached as <I>Appendix&nbsp;B</I> to this proxy statement/prospectus. You should read the statute carefully and consult with your
legal counsel if you intend to exercise these rights.</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_013"></A>The merger and the performance of the combined
company are subject to a number of risks</B> <FONT STYLE="font-weight: normal">(See page&nbsp;18) </FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">There are a number of risks relating to the merger
and to the businesses of First Mid, Delta and the combined company following the merger. See the &#8220;Risk Factors&#8221; beginning
on page 18 of this proxy statement/prospectus for a discussion of these and other risks relating to the merger. You should also consider
the other information in this proxy statement/prospectus and the documents First Mid has filed with the SEC and which are incorporated
by reference into this proxy statement/prospectus. See &#8220;Incorporation of Certain First Mid Documents by Reference&#8221; and &#8220;Where
You Can Find More Information&#8221; beginning on page 80 and 79, respectively, of this proxy statement/prospectus.</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_014"></A>Delta stockholder approval will be required
to complete the merger and approve the other proposals set forth in the notice</B> <FONT STYLE="font-weight: normal">(See page 27) </FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">Approval
by Delta&#8217;s stockholders at Delta&#8217;s special meeting of stockholders on October 28, 2021 is required to complete the
merger. The presence, in person or by proxy, of a majority of the shares of Delta common stock entitled to vote on the merger
agreement is necessary to constitute a quorum at the meeting. Each share of Delta common stock outstanding on the record date
entitles its holder to one vote on the merger agreement and any other proposal listed in the notice. Approval of the merger
agreement and the transactions contemplated therein requires the affirmative vote of the holders of at least two-thirds of the
outstanding shares of Delta common stock entitled to vote. Abstentions, shares not voted and broker non-votes will have the same
effect as a vote against the merger proposal. Approval of the proposal to adjourn the special meeting requires the affirmative vote
of a majority of the shares of Delta common stock present in person or represented by proxy and entitled to vote. Abstentions will
have the same effect as a vote against the proposal to adjourn the special meeting, while shares not voted and broker non-votes will
have no effect on the outcome of the proposal to adjourn the special meeting. As of the record date of September 28, 2021, Delta
directors and executive officers held approximately 59% of the outstanding shares of Delta common stock entitled to vote at the
special meeting. As described on page 61, pursuant to a voting agreement entered into by Delta&#8217;s directors and executive
officers, beneficial owners of approximately 59% of the shares of Delta common stock, Delta&#8217;s directors and executive officers
have agreed to vote in favor of the merger in accordance with the terms that agreement.</P>

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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_015"></A>Completion of the merger is subject to regulatory
approvals</B> <FONT STYLE="font-weight: normal">(See page 66) </FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">The merger cannot proceed without obtaining all
requisite regulatory approvals. First Mid and Delta have agreed to take all appropriate actions necessary to obtain the required approvals.
The merger of First Mid and Delta is subject to prior approval of the Board of Governors of the Federal Reserve System (which we refer
to as the &#8220;Federal Reserve&#8221;) and the Missouri Division of Finance (which we refer to as the &#8220;MO DOF&#8221;). First Mid
submitted applications with the Federal Reserve and the MO DOF on September 3, 2021, seeking the necessary approvals. The merger may not
be consummated until at least 15&nbsp;days after receipt of Federal Reserve approval, during which time the United States Department of
Justice may challenge the merger on antitrust grounds. The commencement of an antitrust action would stay the effectiveness of the Federal
Reserve&#8217;s approval, unless a court specifically orders otherwise.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">At a date following the completion of the merger,
First Mid intends to merge Jefferson Bank with and into First Mid Bank, with First Mid Bank as the surviving bank. The bank merger will
be subject to approval by the Office of the Comptroller of the Currency (which we refer to as the &#8220;OCC&#8221;). First Mid intends
to file an application with the OCC seeking this approval in the near future.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">While First Mid knows of no reason why the approval
of any of the applications would be denied or unduly delayed, it cannot assure you that all regulatory approvals required to consummate
the merger and the bank merger will be obtained or obtained in a timely manner.</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_016"></A>Conditions to the merger</B> <FONT STYLE="font-weight: normal">(See
page 66)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid"><I>Closing Conditions for the Benefit of First
Mid.</I> First Mid&#8217;s obligations to close the merger are subject to fulfillment of certain conditions, including:</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">accuracy of representations and warranties of Delta in the merger agreement as of the closing date of the merger, except as otherwise
set forth in the merger agreement;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">performance by Delta in all material respects of its obligations under the merger agreement;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">approval of the merger agreement and the transactions contemplated therein at the meeting of Delta stockholders;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">execution and delivery of the articles of merger, in form suitable for filing with the Missouri Secretary of State and the Delaware
Secretary of State;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">no order, injunction, decree, statute, rule, regulation or other legal restraint or prohibition preventing or making illegal the consummation
of the merger or any of the other transactions contemplated by the merger agreement;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">receipt of all necessary regulatory approvals;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">the registration statement, of which this proxy statement/prospectus is a part, concerning First Mid common stock issuable pursuant
to the merger agreement having been declared effective by the SEC and continuing to be effective as of the effective time of the merger;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">receipt of a certificate signed on behalf of Delta certifying (i)&nbsp;the accuracy of the representations and warranties of Delta
in the merger agreement and (ii)&nbsp;performance by Delta in all material respects of its obligations under the merger agreement;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">receipt of a tax opinion from its tax counsel that (i)&nbsp;the merger constitutes a &#8220;reorganization&#8221; within the meaning
of Section&nbsp;368(a) of the Internal Revenue Code and (ii)&nbsp;each of First Mid and Delta will be a party to such reorganization within
the meaning of Section&nbsp;368(b) of the Internal Revenue Code;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">receipt of a consolidated balance sheet for Delta and its subsidiaries as of the last day of the month preceding the closing date
of the merger (subject to certain timing changes); and</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">no material adverse change in Delta or business conduct by Delta and its subsidiaries, taken as a whole since July 28, 2021.</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid"><I>Closing Conditions for the Benefit of Delta.</I>
Delta&#8217;s obligations to close the merger are subject to fulfillment of certain conditions, including:</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">accuracy of representations and warranties of First Mid and Merger Sub in the merger agreement as of the closing date of the merger,
except as otherwise set forth in the merger agreement;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">performance by each of First Mid and Merger Sub in all material respects of their respective obligations under the merger agreement;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">approval of the merger agreement and the transactions contemplated therein at the meeting of Delta stockholders;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">execution and delivery of the articles of merger, in form suitable for filing with the Missouri Secretary of State and Delaware Secretary
of State;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">no order, injunction, decree, statute, rule, regulation or other legal restraint or prohibition preventing or making illegal the consummation
of the merger or any of the other transactions contemplated by the merger agreement;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">receipt of all necessary regulatory approvals and certain third party consents;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">the registration statement, of which this proxy statement/prospectus is a part, concerning First Mid common stock issuable pursuant
to the merger agreement having been declared effective by the SEC and continuing to be effective as of the effective time of the merger;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">receipt of a certificate signed on behalf of First Mid certifying (i)&nbsp;the accuracy of representations and warranties of First
Mid and Merger Sub in the merger agreement and (ii)&nbsp;performance by each of First Mid and Merger Sub in all material respects of its
respective obligations under the merger agreement;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">receipt of a tax opinion from its tax advisor that (i)&nbsp;the merger constitutes a &#8220;reorganization&#8221; within the meaning
of Section&nbsp;368(a) of the Internal Revenue Code and (ii)&nbsp;each of First Mid and Delta will be a party to such reorganization within
the meaning of Section&nbsp;368(b) of the Internal Revenue Code; and</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">no material adverse change in First Mid since July 28, 2021.</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_017"></A>How the merger agreement may be terminated
by First Mid and Delta</B> <FONT STYLE="font-weight: normal">(See page 68)</FONT></P>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">First Mid and Delta may mutually agree to terminate
the merger agreement and abandon the merger at any time. Subject to conditions and circumstances described in the merger agreement, either
First Mid or Delta may terminate the merger agreement as follows:</P>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">any regulatory authority has denied approval of any of the transactions contemplated by the merger agreement or issued a final nonappealable
order that has the effect of making consummation of the merger illegal or otherwise preventing or prohibiting consummation of the merger,
or any application for a necessary regulatory approval has been withdrawn at the request of a regulatory authority, provided that such
right to terminate is not available to a party whose failure to perform or observe the covenants of the merger agreement has been the
cause of the denial or withdrawal of regulatory approval;</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">the merger is not completed by April 28, 2022 (which we refer to as the &#8220;outside date&#8221;), provided that such right to terminate
is not available to a party whose failure to fulfill any of its obligations under the merger agreement has resulted in the failure of
the merger to be completed before such date;</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">approval of the Delta stockholders necessary for the merger is not obtained; or</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">any state or federal law, rule or regulation is adopted or issued and becomes effective and has the effect of prohibiting the merger.</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">In addition, Delta may terminate the merger agreement
as follows:</P>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">if Delta is not in material breach of the merger agreement, and any of the representations or warranties of First Mid are or become
untrue or inaccurate such that the conditions set forth in the merger agreement would not be satisfied or there has been a breach by First
Mid of any of its covenants or agreements in the merger agreement causes it to fail to perform in all material respects all agreements
required to be performed by it under the merger agreement, and, in either such case, such breach has not been, or cannot be, cured prior
to the earlier of two business days before the outside date or thirty days after notice to First Mid from Delta;</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">prior to Delta&#8217;s meeting of stockholders, in order to enter into an agreement with respect to an unsolicited superior proposal
from a third party, provided that First Mid be provided with an opportunity, pursuant to procedures set forth in the merger agreement,
to make an offer that is more favorable to the Delta stockholders, and further provided that the termination fee is paid by Delta to First
Mid; or</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">if at any time during the five business day period commencing on the fifteenth business day immediately preceding the effective time
of the merger, the average closing price of a share of First Mid common stock is less than $31.42 and decreases by more than 20% in relation
to the Nasdaq Bank Index, Delta will have the right to terminate the merger agreement unless First Mid elects to increase the exchange
ratio pursuant to the formula described in the section entitled &#8220;The Merger Agreement&#8212;Merger Consideration.&#8221;</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">In addition, First Mid may terminate the merger
agreement as follows:</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">if First Mid is not in material breach of the merger agreement, and any of the representations or warranties of Delta are or become
untrue or inaccurate such that the conditions set forth in the merger agreement would not be satisfied or there has been a breach by Delta
of any of its covenants or agreements in the merger agreement causes it to fail to perform in all material respects all agreements required
to be performed by it under the merger agreement, and, in either such case, such breach has not been, or cannot be, cured prior to the
earlier of two business days before the outside date or thirty days after notice to Delta from First Mid; or</TD></TR></TABLE>
<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="border-left: Black 1pt solid; width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="border-right: Black 1pt solid">prior to Delta&#8217;s stockholders meeting if Delta&#8217;s board of directors (i) approves or recommends, or proposes publicly to
approve or recommend, any acquisition of Delta by a third-party, and/or permits Delta to enter into an acquisition agreement with a third
party or (ii) recommends that the stockholders of Delta tender their shares of Delta common stock in an tender offer or exchange offer
for Delta common stock has commenced (other than by First Mid or its affiliates) or fails to recommend rejection of such offer within
ten business days after its commencement.</TD></TR></TABLE>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><A NAME="a_018"></A>A termination fee may be payable by Delta
under some circumstances</B> <FONT STYLE="font-weight: normal">(See page 69)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta has agreed to pay First Mid a termination
fee of $3,090,000 if the merger agreement is terminated under certain circumstances, including if First Mid terminates the merger agreement
because Delta breaches its covenant not to solicit an acquisition proposal from a third party or if Delta terminates the merger agreement
in order to enter into an agreement for a superior proposal.</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><A NAME="a_019"></A>Voting agreement</B> <FONT STYLE="font-weight: normal">(See
page 61)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 28, 2021, the directors of Delta agreed
to vote all of their shares of Delta common stock in favor of the merger agreement at the special meeting of Delta stockholders. The voting
agreement covers 24,429.62 shares of Delta common stock, constituting approximately 59% of Delta&#8217;s outstanding shares of common
stock as of July 28, 2021. This voting agreement terminates if the merger agreement is terminated in accordance with its terms. A copy
of the form of voting agreement is attached to this proxy statement/prospectus as <I>Appendix&nbsp;C</I>.</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><A NAME="a_020"></A>Accounting treatment of the merger</B> <FONT STYLE="font-weight: normal">(See
page 49)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For accounting and financial reporting purposes,
the merger will be accounted for under the acquisition method of accounting for business combinations in accordance with accounting principles
generally accepted in the United States (which we refer to as &#8220;GAAP&#8221;).</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><A NAME="a_021"></A>Certain differences in First Mid stockholder
rights and Delta stockholder rights</B> <FONT STYLE="font-weight: normal">(See page 73)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Because they will receive First Mid common stock,
Delta stockholders will become First Mid stockholders as a result of the merger. Their rights as stockholders after the merger will be
governed by First Mid&#8217;s certificate of incorporation and bylaws. The rights of First Mid stockholders are different in certain respects
from the rights of Delta&#8217;s stockholders. The material differences are described later in this proxy statement/prospectus.</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><A NAME="a_022"></A>Management of First Mid after the merger</B>
<FONT STYLE="font-weight: normal">(See page 70)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The First Mid executive officers will remain the
same following the merger. Delta will be merged with and into Merger Sub, the sole member of which is First Mid.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid"><B><A NAME="a_023"></A>First Mid shares will be listed on Nasdaq</B>
<FONT STYLE="font-weight: normal">(See page 70)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The shares of First Mid common stock to be issued
pursuant to the merger will be listed on the Nasdaq Global Select Market under the symbol &#8220;FMBH.&#8221;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B><A NAME="a_024"></A>Risk Factors</B> <FONT STYLE="font-weight: normal">(See
page 18)</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You should consider all the information contained
or incorporated by reference into this proxy statement/prospectus in deciding how to vote for the proposals presented. In particular,
you should consider the factors described under &#8220;Risk Factors.&#8221;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; border-left: Black 1pt solid"><A NAME="a_025"></A>SELECTED
HISTORICAL CONSOLIDATED FINANCIAL DATA OF FIRST MID</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table summarizes selected historical
consolidated financial data of First Mid for the periods and as of the dates indicated. This information has been derived from First Mid&#8217;s
consolidated financial statements filed with the SEC. Historical financial data as of and for the six months ended June 30, 2021 and June
30, 2020 are unaudited and include, in management&#8217;s opinion, all normal recurring adjustments considered necessary to present fairly
the results of operations and financial condition of First Mid. You should not assume the results of operations for past periods and for
the six months ended June 30, 2021 and June 30, 2020 indicate results for any future period.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You should read this information in conjunction
with First Mid&#8217;s consolidated financial statements and related notes thereto included in First Mid&#8217;s Annual Report on Form&nbsp;10-K
for the year ended December&nbsp;31, 2020, and in First Mid&#8217;s Quarterly Report on Form&nbsp;10-Q for the six months ended June 30,
2021, which are incorporated by reference into this prospectus supplement and the accompanying prospectus. See &#8220;Incorporation of
Certain Documents by Reference&#8221; and &#8220;Where You Can Find More Information&#8221; beginning on pages 80 and 79, respectively,
of this proxy statement/prospectus.</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="white-space: nowrap; font-weight: bold; text-align: center">(Unaudited)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="white-space: nowrap; font-weight: bold; text-align: center">As of and for six months</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">ended June 30,</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="19" STYLE="border-right: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As of and for year ended December 31,</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; white-space: nowrap">(in thousands, except per share data)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; white-space: nowrap; font-weight: bold">Results of Operations</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; width: 37%; text-align: left">&nbsp;Interest income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">87,451</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">70,276</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">144,141</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">149,721</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">124,565</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">99,555</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">75,496</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,940</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,821</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,729</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,047</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,827</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,482</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,292</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Net interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">79,511</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">61,455</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">127,412</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">125,674</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111,738</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">93,073</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">71,204</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Provision for loan losses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,576</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,617</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,103</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,433</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,667</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,462</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,826</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Net interest income after provision for loan losses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67,935</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49,838</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111,309</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">119,241</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">103,071</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">85,611</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68,378</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Other income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,033</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,395</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59,520</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56,017</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">35,414</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,336</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,912</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Other expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">83,613</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,829</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111,087</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111,992</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">89,980</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,221</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">61,510</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Income before income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,355</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,404</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59,742</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63,266</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48,505</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,726</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,780</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,025</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,268</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,472</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,323</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,905</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,042</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,940</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Net income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,330</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,136</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,270</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,943</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,600</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,684</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,840</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Preferred stock dividends</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">825</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Net income available to&nbsp;&nbsp;common stockholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,330</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,136</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,270</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">47,943</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,600</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,684</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,015</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; font-weight: bold; text-align: left">Balance Sheet Items</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,790,582</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,458,311</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,726,348</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,839,426</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,839,734</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,841,539</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,884,535</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Total gross loans, including loans held for sale</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,796,304</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,205,262</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,138,419</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,695,347</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,644,519</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,939,501</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,825,992</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid">&nbsp;Deposits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,739,322</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,385,827</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,692,784</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,917,366</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,988,686</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,274,639</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,329,887</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Total liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,174,516</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,909,038</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,158,120</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,312,817</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,363,870</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,533,575</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,603,862</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Stockholders' equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">616,066</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">549,273</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">568,228</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">526,609</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475,864</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">307,964</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">280,673</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; font-weight: bold">&nbsp;Per Common Share Data</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid">&nbsp;Basic earnings per common share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.92</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.21</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.71</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.88</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.53</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.13</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.07</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid">&nbsp;Diluted earnings per common share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.92</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.20</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.70</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.87</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.52</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.13</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.05</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">&nbsp;Common dividends declared</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.41</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.40</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.81</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.76</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.70</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.66</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.62</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid">&nbsp;Tangible book value (1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26.33</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25.02</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26.29</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23.59</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.22</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.73</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.84</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; font-weight: bold; text-align: left">Performance Ratios</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">Return on average assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.59</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.99</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.05</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.25</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.13</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.94</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.94</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">Return on average common equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.44</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.48</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.24</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.49</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.59</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.92</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.30</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">Net interest margin (TE) (2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.18</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.37</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.27</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.64</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.79</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.70</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.39</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">%</TD></TR>
  </TABLE>



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<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-left: Black 1pt solid"></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">(1) Total common
equity less goodwill and intangible assets divided by shares outstanding as of period end.</FONT></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-left: Black 1pt solid"><FONT STYLE="font-size: 8pt">(2) Presented on
a full tax equivalent basis using the federal statutory rate of 21% for all periods presented.</FONT></P>



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<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; border-left: Black 1pt solid"><A NAME="a_026"></A>COMPARATIVE
PER SHARE MARKET PRICE</P>

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<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">First
Mid common stock trades on the Nasdaq Global Select Market under the symbol &#8220;FMBH&#8221;. <FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table presents the closing price of First Mid common stock on July 28, 2021, the last trading day prior to the public
announcement of the merger agreement, and September 29, 2021, the last practicable trading day prior to the mailing of this proxy
statement/prospectus. The table also sets forth the implied per share value of the merger consideration constituting First Mid
common stock proposed for each share of Delta common stock as of the same two dates. This implied value was calculated by
determining the value obtained by multiplying the closing sale price of First Mid common stock on the relevant date by the exchange
ratio of 55.1061.</FONT></P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-left: Black 1pt solid; white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">First Mid Common Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Implied Per Share Value</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="border-left: Black 1pt solid; width: 70%">July 28, 2021</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">39.90</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">2,198.73</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="border-left: Black 1pt solid; text-align: left">September 29, 2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">41.07</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,263.21</TD><TD STYLE="border-right: Black 1pt solid; white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">The outstanding shares of Delta common stock are
privately held and are not traded on any established public trading market. The last transaction known by Delta&#8217;s management to
occur prior to the date of this proxy statement/prospectus was on November 30, 2020 and the sale price was $1,950.00 per share.</P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><font style="background-color: white">At
September 29</font>, 2021<font style="background-color: white">, the last practicable day prior to the mailing of this proxy statement/prospectus,
the 18,083,126 outstanding shares of </font>First Mid common stock <font style="background-color: white">were held by approximately </font>920
<font style="background-color: white">holders of record. At September 29</font>, 2021<font style="background-color: white">, the last
practicable day prior to the mailing of this proxy statement/prospectus, the 41,598.3 outstanding shares of Delta common stock were held
by approximately 98 holders of record.</font></P>

<P STYLE="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The above tables show only historical information
and may not provide meaningful information to Delta stockholders in determining whether to approve the merger agreement. Delta stockholders
are urged to obtain current market quotations for shares of First Mid common stock and to review carefully the other information contained
in this proxy statement/prospectus or incorporated by reference into this proxy statement/prospectus in considering whether to approve
the merger agreement. The market price of First Mid common stock will fluctuate between the date of this proxy statement/prospectus and
the date of completion of the merger. No assurance can be given concerning the market price of First Mid common stock before or after
the effective time of the merger. Changes in the market price of First Mid common stock prior to the completion of the merger will affect
the per share market value of the merger consideration constituting First Mid common stock that Delta stockholders will receive upon completion
of the merger.</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in; border-left: Black 1pt solid">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_027"></A>RISK
FACTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>In addition to general investment risks and
the other information contained in or incorporated by reference into this proxy statement/prospectus, including the matters addressed
under the section &#8220;Special Note Regarding Forward-Looking Statements&#8221; beginning on page </I>23 <I>you should carefully consider
the following risk factors in deciding how to vote for the proposals presented in this proxy statement/prospectus. You should also consider
the other information in this proxy statement/prospectus and the other documents incorporated by reference into this proxy statement/prospectus.
See &#8220;References to Additional Information&#8221; in the forepart of this proxy statement/prospectus and the sections of this proxy
statement/prospectus entitled &#8220;Incorporation of Certain First Mid Documents by Reference&#8221; beginning on page </I>80 <I>and
&#8220;Where You Can Find More Information&#8221; beginning on page </I>79.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Risks Related to the Merger and First Mid&#8217;s Business Upon
Completion of the Merger </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The Value of the Merger Consideration that Constitutes First
Mid Common Stock will Fluctuate Based on the Price of First Mid Common Stock.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger consideration that Delta stockholders
will receive as First Mid common stock is a fixed number of shares of First Mid common stock; it is not a number of shares of First Mid
common stock with a particular fixed market value. The market value of shares of First Mid common stock at the effective time of the merger
may vary significantly from its value on the date the merger agreement was executed or at other dates, including the date on which Delta
stockholders vote on the adoption of the merger agreement. The market price of First Mid&#8217;s common stock could be subject to significant
fluctuations due to changes in sentiment in the market regarding First Mid&#8217;s operations or business prospects, including market
sentiment regarding First Mid&#8217;s entry into the merger agreement. These risks may be affected by, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>operating results that vary from the expectations of First Mid management or of securities analysts and investors;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>operating and securities price performance of companies that investors consider to be comparable to First Mid;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>announcements of strategic developments, acquisitions, dispositions, financings, and other material events by First Mid or its competitors;
and</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in global financial markets and economies and general market conditions, such as interest or foreign exchange rates, stock,
commodity, credit or asset valuations or volatility.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Stock price changes may also result from a variety
of other factors, many of which are outside of the control of First Mid, including changes in the business, operations or prospects of
First Mid, regulatory considerations, and general business, market, industry or economic conditions. Accordingly, at the time of the Delta
special meeting, Delta stockholders will not know or be able to calculate the market value of the First Mid common stock they would receive
upon the completion of the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The Market Price of First Mid Common Stock after the Merger May
be Affected by Factors Different from Those Affecting the Shares of Delta or First Mid Currently. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon completion of the merger, holders of Delta
common stock will become holders of First Mid common stock. First Mid&#8217;s business differs in important respects from that of Delta
and they currently operate in different markets. Accordingly, the results of operations of the combined company and the market price of
First Mid common stock after the completion of the merger may be affected by factors different from those currently affecting the independent
results of operations of each of First Mid and Delta. For a discussion of the business and market of First Mid and of some important factors
to consider in connection with its business, please see the documents incorporated by reference in this proxy statement/prospectus and
referred to under &#8220;Incorporation of Certain First Mid Documents by Reference.&#8221;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Delta Stockholders Will Have a Reduced Ownership and Voting Interest
After the Merger and Will Exercise Less Influence Over Management. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta stockholders currently have the right to
vote in the election of the Delta board of directors and on other matters requiring stockholder approval under Missouri law and Delta&#8217;s
articles of incorporation and bylaws. Upon the completion of the merger, each Delta stockholder will become a stockholder of First Mid
with a percentage ownership of First Mid that is smaller than such stockholder&#8217;s percentage ownership of Delta. Based on the number
of issued and outstanding shares of First Mid common stock and Delta common stock on July 28, 2021, and the exchange ratio of 55.1061,
and assuming no adjustment in the number of shares of First Mid common stock to be issued as merger consideration pursuant to the merger
agreement, stockholders of Delta, as a group, will receive shares in the merger constituting approximately 11.2% of First Mid&#8217;s
issued and outstanding common stock immediately after the merger (without giving effect to any First Mid common stock held by Delta stockholders
prior to the merger). Because of this, current Delta stockholders, as a group, will have less influence on the board of directors, management
and policies of First Mid (as the combined company following the merger) than they now have on the board of directors, management and
policies of Delta.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>First Mid May Fail to Realize the Anticipated Benefits of the
Merger. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid and Delta have operated and, until the
completion of the merger, will continue to operate, independently. The success of the merger, including anticipated benefits and cost
savings, will depend on, among other things, First Mid&#8217;s ability to combine the businesses of First Mid and Delta in a manner that
permits growth opportunities, including, among other things, enhanced revenues and revenue synergies, an expanded market reach and operating
efficiencies, and does not materially disrupt the existing customer relationships of First Mid or Delta nor result in decreased revenues
due to any loss of customers. If First Mid is not able to successfully achieve these objectives, the anticipated benefits of the merger
may not be realized fully or at all or may take longer to realize than expected. Failure to achieve these anticipated benefits could result
in increased costs, decreases in the amount of expected revenues and diversion of management&#8217;s time and energy and could have an
adverse effect on the surviving company&#8217;s business, financial condition, operating results and prospects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Certain employees may not be employed by First
Mid after the merger. In addition, employees that First Mid wishes to retain may elect to terminate their employment as a result of the
merger, which could delay or disrupt the integration process. It is possible that the integration process could result in the disruption
of First Mid&#8217;s or Delta&#8217;s ongoing businesses or cause inconsistencies in standards, controls, procedures and policies that
adversely affect the ability of First Mid or Delta to maintain relationships with customers and employees or to achieve the anticipated
benefits and cost savings of the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Among the factors considered by the boards of directors
of First Mid and Delta in connection with their respective approvals of the merger agreement were the benefits that could result from
the merger. There can be no assurance that these benefits will be realized within the time periods contemplated or at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Regulatory Approvals May Not Be Received, May Take Longer than
Expected or May Impose Conditions that Are Not Presently Anticipated or Cannot Be Met. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Before the transactions contemplated in the merger
agreement can be completed, various approvals must be obtained from bank regulatory agencies and other governmental authorities. In deciding
whether to grant antitrust or regulatory clearances, the relevant governmental entities will consider a variety of factors, including
the regulatory standing of each of the parties. An adverse development in either party&#8217;s regulatory standing or other factors could
result in an inability to obtain one or more of the required regulatory approvals or delay their receipt. The terms and conditions of
the approvals that are granted may impose requirements, limitations or costs or place restrictions on the conduct of the combined company&#8217;s
business. First Mid and Delta believe that the merger should not raise significant regulatory concerns and that First Mid will be able
to obtain all requisite regulatory approvals in a timely manner. Despite the parties&#8217; commitments to use their reasonable and diligent
efforts to comply with conditions imposed by regulatory entities, under the terms of the merger agreement, First Mid and Delta will not
be required to take actions that would reasonably be expected to materially restrict or burden First Mid following the merger. There can
be no assurance that regulators will not impose conditions, terms, obligations or restrictions and that such conditions, terms, obligations
or restrictions will not have the effect of delaying the completion of the merger, imposing additional material costs on or materially
limiting the revenues of the combined company following the merger or otherwise reduce the anticipated benefits of the merger if the merger
were consummated successfully within the expected timeframe. In addition, neither First Mid nor Delta can provide assurance that any such
conditions, terms, obligations or restrictions will not result in the delay or abandonment of the merger. Additionally, the completion
of the merger is conditioned on the absence of certain orders, injunctions or decrees by any court or regulatory agency of competent jurisdiction
that would prohibit or make illegal the completion of the merger.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The Merger Agreement May Be Terminated in Accordance with Its
Terms and the Merger May Not Be Completed. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger agreement is subject to a number of
conditions which must be fulfilled in order to complete the merger. Those conditions include, among other things: approval of the merger
agreement and the transactions it contemplates by Delta stockholders, receipt of certain requisite regulatory approvals, absence of orders
prohibiting completion of the merger, effectiveness of the registration statement of which this proxy statement/prospectus is a part,
the accuracy of the representations and warranties by both parties (subject to the materiality standards set forth in the merger agreement)
and the performance by both parties of their covenants and agreements, and the receipt by both parties of legal opinions from their respective
tax counsels. These conditions to the closing of the merger may not be fulfilled in a timely manner or at all, and, accordingly, the merger
may not be completed. In addition, the parties can mutually decide to terminate the merger agreement at any time, before or after stockholder
approval, or First Mid or Delta may elect to terminate the merger agreement in certain other circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Termination of the Merger Agreement could Negatively Impact First
Mid. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid has incurred and will incur substantial
expenses in connection with the negotiation and completion of the transactions contemplated by the merger agreement. If the merger is
not completed, First Mid would have to recognize these expenses without realizing the expected benefits of the merger and First Mid&#8217;s
businesses may be impacted adversely by the failure to pursue other beneficial opportunities due to the focus of management on the merger,
without realizing any of the anticipated benefits of completing the merger. Additionally, the market price of First Mid&#8217;s common
stock could decline to the extent that the market prices since the announcement of the merger reflect a market assumption that the merger
will be completed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Termination of the Merger Agreement Could Negatively Impact Delta.
</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the merger is not completed for any reason,
including as a result of Delta stockholders declining to approve the merger agreement, the ongoing business of Delta may be adversely
impacted and, without realizing any of the anticipated benefits of completing the merger, Delta would be subject to a number of risks,
including the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Delta may experience negative reactions from its customers, vendors and employees;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Delta will have incurred substantial expenses and will be required to pay certain costs relating to the merger, whether or not the
merger is completed;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The merger agreement places certain restrictions on the conduct of Delta&#8217;s businesses prior to completion of the merger. Such
restrictions, the waiver of which is subject to the consent of First Mid (not to be unreasonably withheld, conditioned or delayed), may
prevent Delta from making certain acquisitions or taking certain other specified actions during the pendency of the merger; and</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Matters relating to the merger (including integration planning) will require substantial commitments of time and resources by Delta
management, which would otherwise have been devoted to other opportunities that may have been beneficial to Delta as an independent company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the merger agreement is terminated and the Delta
board of directors seeks another merger or business combination, Delta stockholders cannot be certain that Delta will be able to find
a party willing to offer equivalent or more attractive consideration than the consideration First Mid has agreed to provide in the merger,
or that such other merger or business combination will be completed. Additionally, if the merger agreement is terminated and the Delta
board of directors seeks another merger or business combination, under certain circumstances Delta may be required to pay First Mid a
termination fee of $3,090,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Delta Will Be Subject to Business Uncertainties and Contractual
Restrictions While the Merger Is Pending. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Uncertainty about the effect of the merger on employees
and customers may have an adverse effect on Delta and, consequently, on First Mid. These uncertainties may impair Delta&#8217;s ability
to attract, retain and motivate key personnel until the merger is completed, and could cause customers and others that deal with Delta
to seek to change existing business relationships with Delta. Retention of certain employees may be challenging during the pendency of
the merger, as certain employees may experience uncertainty about their future roles. If key employees depart because of issues relating
to the uncertainty and difficulty of integration or a desire not to remain with the business, First Mid&#8217;s business following the
merger could be negatively impacted. In addition, the merger agreement restricts Delta from making certain transactions and taking other
specified actions without the consent of First Mid until the merger occurs. These restrictions may prevent Delta from pursuing attractive
business opportunities that may arise prior to the completion of the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Delta Directors and Officers May Have Interests in the Merger
Different From the Interests of Delta Stockholders. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The interests of some of the directors and executive
officers of Delta may be different from those of Delta stockholders, and the directors and officers of Delta may be participants in arrangements
that are different from, or are in addition to, those of Delta stockholders. The members of the Delta&#8217;s board of directors knew
about these additional interests and considered them among other matters, when making its decision to approve the merger agreement, and
in recommending that Delta&#8217;s common stockholders vote in favor of adopting the merger agreement. Such interests include, among others:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>extending offers of employment to certain named executive officers; and</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>entering into a severance and retention arrangement with certain named executive officers.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">These interests are more fully described in this
proxy statement-prospectus under the heading &#8220;The Merger&#8212;Interests of certain persons in the merger&#8221; on page 50.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The Merger Agreement Contains Provisions that May Discourage
Other Companies from Trying to Acquire Delta for Greater Merger Consideration. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger agreement contains provisions that may
discourage a third party from submitting a business combination proposal to Delta that might result in greater value to Delta&#8217;s
stockholders than the proposed merger with First Mid or may result in a potential competing acquirer proposing to pay a lower per share
price to acquire Delta than it might otherwise have proposed to pay absent such provisions. These provisions include a general prohibition
on Delta from soliciting, or, subject to certain exceptions relating to the exercise of fiduciary duties by Delta&#8217;s board of directors,
entering into discussions with any third party regarding any acquisition proposal or offers for competing transactions. Delta also has
an unqualified obligation to submit the proposal to approve the merger to a vote by its stockholders, even if Delta receives an alternative
acquisition proposal that its board of directors believes is superior to the merger, unless the merger agreement has been terminated in
accordance with its terms. In addition, Delta may be required to pay First Mid a termination fee of $3,090,000 upon termination of the
merger agreement in certain circumstances involving acquisition proposals for competing transactions. See &#8220;Description of the Merger
Agreement&#8212;Termination&#8221; beginning on page 68 and &#8220;Description of the Merger Agreement&#8212;Termination fee&#8221; beginning
on page 69.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The Opinion of Delta&#8217;s Financial Advisor Will Not Reflect
Changes in Circumstances After the Date Thereof. </I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta has not obtained an updated opinion from
its financial advisor as of the date of this proxy statement/prospectus. Changes in the operations and prospects of Delta or First Mid,
general market and economic conditions and other factors that may be beyond the control of Delta and First Mid may significantly alter
the value of Delta or First Mid or the price of Delta common stock or First Mid common stock by the time the merger is completed. The
opinion does not speak as of the time the merger will be completed or as of any date other than the date of such opinion. Because Delta
does not currently anticipate asking its financial advisor to update its opinion, the opinion will not address the fairness of the merger
consideration from a financial point of view at the time the merger is completed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>First Mid and Delta Will Incur Transaction and Integration Costs
in Connection with the Merger. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each of First Mid and Delta has incurred and expects
that it will incur significant, non-recurring costs in connection with consummating the merger. In addition, First Mid will incur integration
costs following the completion of the merger as First Mid integrates the businesses of the two companies, including facilities and systems
consolidation costs and employment-related costs. There can be no assurances that the expected benefits and efficiencies related to the
integration of the businesses will be realized to offset these transaction and integration costs over time. See the risk factor entitled
&#8220;&#8212;First Mid May Fail to Realize the Anticipated Benefits of the Merger&#8221; on page 19. First Mid and Delta may also incur
additional costs to maintain employee morale and to retain key employees. First Mid and Delta will also incur significant legal, financial
advisor, accounting, banking and consulting fees, fees relating to regulatory filings and notices, SEC filing fees, printing and mailing
fees and other costs associated with the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>The Shares of First Mid Common Stock to be Received by Delta
Common Stockholders as a Result of the Merger Will Have Different Rights from the Shares of Delta Common Stock. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon completion of the merger, Delta common stockholders
will receive merger consideration constituting First Mid common stock and will become First Mid stockholders and their rights as stockholders
will be governed by the DGCL and First Mid&#8217;s certificate of incorporation and bylaws. The rights associated with Delta common stock
are different from the rights associated with First Mid common stock. Please see &#8220;Comparison of Rights of First Mid Stockholders
and Delta Stockholders&#8221; beginning on page 73 for a discussion of the different rights associated with First Mid common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>This Proxy Statement/Prospectus Contains Limited Financial Information
on which to Evaluate the Merger. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This proxy statement/prospectus contains limited
historical financial information about Delta and does not contain pro forma combined financial information about First Mid and Delta after
giving effect to the merger. The financial condition of the combined company following the merger will impact the price of First Mid&#8217;s
common stock after the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Lawsuits that May Be Filed against Delta and First Mid Could
Result in an Injunction Preventing the Completion of the Merger or a Judgment Resulting in the Payment of Damages. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Plaintiffs may file lawsuits against First Mid,
Delta and/or the directors and officers of either company in connection with the merger. The outcome of any such litigation is uncertain.
If the cases are not resolved, these lawsuits could prevent or delay completion of the merger and result in substantial costs to First
Mid, including any costs associated with the indemnification of directors and officers. The defense or settlement of any lawsuit or claim
that remains unresolved at the time the merger is completed may adversely affect First Mid&#8217;s business, financial condition, results
of operations and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Risks Relating to First Mid&#8217;s Business </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You should read and consider risk factors specific
to First Mid&#8217;s business that will also affect the combined company after the merger. These risks are described in the sections entitled
&#8220;Risk Factors&#8221; in First Mid&#8217;s Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2020, and
in other documents incorporated by reference into this proxy statement/prospectus. Please see the sections entitled &#8220;Incorporation
of Certain First Mid Documents by Reference&#8221; and &#8220;Where You Can Find More Information&#8221; beginning on pages 80 and 79
of this proxy statement/prospectus, respectively, for the location of information incorporated by reference into this proxy statement/prospectus.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_028"></A><FONT STYLE="text-transform: none">SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This proxy statement/prospectus, and the documents
to which this proxy statement/prospectus refer, contain certain forward-looking statements, such as discussions of pricing and fee trends,
credit quality and outlook, liquidity, new business results, expansion plans, anticipated expenses and planned schedules of First Mid
and Delta. Such forward-looking statements are intended to be covered by the safe harbor provisions for forward-looking statements contained
in the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe
future plans, strategies and expectations of First Mid and Delta, are identified by use of the words &#8220;believe,&#8221; &#8220;expect,&#8221;
&#8220;intend,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; or similar expressions. Actual results
could differ materially from the results indicated by these statements because the realization of those results is subject to many risks
and uncertainties, including, among other things,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the possibility that any of the anticipated benefits of the proposed transactions between First Mid and Delta will not be realized
or will not be realized within the expected time period;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the risk that integration of the operations of Delta with First Mid will be materially delayed or will be more costly or difficult
than expected;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the inability to complete the proposed transactions due to the failure to obtain the required Delta stockholder approval;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the failure to satisfy other conditions to completion of the proposed transactions, including receipt of required regulatory and other
approvals;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the failure of the proposed transactions to close for any other reason;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the effect of the announcement of the transaction on customer relationships and operating results;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors
or events;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in interest rates;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general economic conditions and those in the market areas of First Mid and Delta;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>legislative/regulatory changes; monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the
Federal Reserve;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the quality or composition of First Mid&#8217;s and Delta&#8217;s loan or investment portfolios and the valuation of those investment
portfolios;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>demand for loan products and deposit flows;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>competition, demand for financial services in the market areas of First Mid and Delta;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>accounting principles, policies and guidelines; and</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the severity, magnitude and duration of the COVID-19 pandemic, the direct and indirect impact of such pandemic, including responses
to the pandemic by the U.S., state and local governments, customers' businesses, the disruption of global, national, state and local economies
associated with the COVID-19 pandemic, which could affect First Mid&#8217;s and Delta&#8217;s liquidity and capital positions, impair
the ability of First Mid&#8217;s and Delta&#8217;s borrowers to repay outstanding loans, impair collateral values, and further increase
the allowance for credit losses, and the impact of the COVID-19 pandemic on First Mid&#8217;s and Delta&#8217;s financial results, including
possible lost revenue and increased expenses (including cost of capital), as well as possible goodwill impairment charges.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">These risks and uncertainties should be considered
in evaluations of forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning
First Mid, including additional factors and risks that could materially affect First Mid&#8217;s financial results, are included in First
Mid&#8217;s filings with the SEC, including its Annual Reports on Form 10-K. Forward-looking statements speak only as of the date they
are made. Except as required under the federal securities laws or the rules and regulations of the SEC, we do not undertake any obligation
to update or review any forward-looking information, whether as a result of new information, future events or otherwise.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_029"></A>NON-GAAP
FINANCIAL INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This
proxy statement/prospectus contains certain financial information determined by methods other than in accordance with GAAP. These non-GAAP
measures are used by First Mid's management, together with the related GAAP measures, in analysis of First Mid&#8217;s performance and
in making business decisions. Management also uses these measures for peer comparisons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The
non-GAAP disclosures contained herein should not be viewed as substitutes for the results determined to be in accordance with GAAP, nor
are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none"></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none"><A NAME="a_030"></A>INFORMATION
ABOUT THE SPECIAL MEETING OF DELTA STOCKHOLDERS </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_031"></A>Purpose</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta stockholders are receiving this proxy
statement/prospectus because on September 28, 2021, the record date for a special meeting of stockholders to be held on October 28,
2021, at the Missouri Athletic Club West Clubhouse, 1777 Des Peres Rd., St. Louis, Missouri 63131 at 3:00 p.m., local time, they
owned shares of the common stock of Delta, and the board of directors of Delta is soliciting proxies for the matters to be voted on
at this special meeting, as described in more detail below. Each copy of this proxy statement/prospectus was mailed to holders of
Delta common stock on October 8, 2021, and is accompanied by a proxy form for use at the meeting and at any adjournment(s) of the
meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the special meeting, the Delta board of directors
will ask you to vote upon the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a proposal to approve the merger agreement and the transactions contemplated therein; and</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a proposal to approve an adjournment of the special meeting to permit further solicitation in the event that an insufficient number
of votes are cast to approve the merger agreement and the transactions contemplated therein.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>When you sign the enclosed proxy form or otherwise
vote pursuant to the instructions set forth on the proxy form, you appoint the proxy holder as your representative at the special meeting.
The proxy holder will vote your shares as you have instructed on the proxy form, thereby ensuring that your shares will be voted whether
or not you attend the special meeting. Even if you plan to attend the special meeting, we ask that you instruct the proxies how to vote
your shares in advance of the special meeting just in case your plans change.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>If you have not already done so, please complete,
date and sign the accompanying proxy form and return it promptly in the enclosed, postage paid envelope or otherwise vote pursuant to
the instructions set forth on the proxy form. Instead of voting by mailing a proxy form, record stockholders can vote their shares of
Delta common stock by returning the proxy form via fax to (314) 621-1267 or via email attachment to marilyn.oberkramer@jbt-stl.com. If
you do not vote your shares as instructed on the proxy form, or if you do not attend and cast your vote at the special meeting, the effect
will be a vote against the merger agreement and the transactions contemplated therein.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_032"></A>Record date, shares entitled to vote, required
vote, quorum</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The record date for the Delta special meeting
is September 28, 2021. Delta&#8217;s stockholders of record as of the close of business on that day will receive notice of and will
be entitled to vote at the special meeting. As of the record date, there were 41,598.3 shares of Delta common stock outstanding and
entitled to vote at the meeting. The outstanding shares are held by approximately 98 holders of record.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The presence, in person or by proxy, of a majority
of the shares of Delta common stock entitled to vote on the merger agreement is necessary to constitute a quorum at the meeting. Each
share of Delta common stock outstanding on the record date entitles its holder to one vote on the matters being brought before the special
meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To determine the presence of a quorum at the meeting,
Delta will also count as present at the meeting broker non-votes, the shares of Delta common stock present in person but not voting, and
the shares of common stock for which Delta has received proxies but with respect to which the holders of such shares have abstained or
signed without providing instructions. Based on the number of shares of Delta common stock outstanding as of the record date, at least
20,800 shares need to be present at the special meeting, whether in person or by proxy, to constitute a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Approval of the merger agreement and the transactions
contemplated therein requires the affirmative vote of the holders of at least two-thirds of the outstanding shares of Delta common stock
entitled to vote. Abstentions, shares not voted and broker non-votes will have the same effect as a vote against the proposal to approve
the merger agreement. Approval of the Delta proposal to adjourn the special meeting requires the affirmative vote of a majority of the
shares of Delta common stock present in person or represented by proxy and entitled to vote on the adjournment. Abstentions will have
the same effect as a vote against the proposal to adjourn the special meeting, while shares not voted and broker non-votes will have no
effect on the outcome of the proposal to adjourn the special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of the record date for the meeting, Delta&#8217;s
directors and executive officers beneficially owned a total of 24,492.62 shares, or approximately 59% of the outstanding shares, of Delta common
stock. We anticipate that these individuals will vote their shares in favor of the merger agreement. Certain of these individuals have
entered into a written agreement with First Mid that they will vote their shares in favor of the merger agreement, except as may be limited
by their fiduciary obligations.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_033"></A>How to vote your shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition to signing and returning your proxy
form in the postage paid envelope provided, you can vote your shares of Delta common stock by returning the proxy form by fax to (314)
621-1267 or via email attachment to marilyn.oberkramer@jbt-stl.com. You may also deliver your proxy form in person at the special meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If you properly complete and timely submit your
proxy, your shares will be voted as you have directed. You may vote for, against, or abstain with respect to the approval of the merger
and the other proposals. If you are the record holder of your shares and submit your proxy without specifying a voting instruction, your
shares will be voted as the Delta board of directors recommends and will be voted &#8220;<B>FOR</B>&#8221; approval of the merger agreement
and the transactions contemplated therein, and &#8220;<B>FOR</B>&#8221; the adjournment of the special meeting to permit further solicitation
in the event that an insufficient number of votes are cast to approve the merger agreement and the transactions contemplated therein.
If you do not vote your shares as instructed on the proxy form, or if you do not attend and cast your vote at the special meeting, it
will have no effect.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_034"></A>Revocation of proxies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You may revoke your proxy at any time before it
is voted by filing with the Secretary of Delta a duly executed revocation of proxy, submitting a new proxy with a later date; or voting
in person at the special meeting. Attendance at the special meeting will not, in and of itself, constitute a revocation of a proxy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All written notices of revocation and other communication
with respect to the revocation of proxies should be addressed to: Delta Bancshares Company, Corporate Secretary, 2301 Market Street, St.
Louis, Missouri 63103. If you hold your shares in the name of a broker, bank or other fiduciary and desire to revoke your proxy, you will
need to contact your broker, bank or other fiduciary to revoke your proxy.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_035"></A>Proxy solicitation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition to this mailing, proxies may be solicited
by directors, officers or employees of Delta in person or by telephone or electronic transmission. None of such directors, officers or
employees will be directly compensated for such services. Delta will pay the costs associated with the solicitation of proxies for the
special meeting.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_036"></A><FONT STYLE="text-transform: none">THE
DELTA PROPOSALS </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_037"></A>Proposal 1&#8212;Approval
of the Merger Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the Delta special meeting, stockholders of Delta
will be asked to approve the merger agreement, pursuant to which Delta will merge with and into <FONT STYLE="font-family: Times New Roman, Times, Serif">Merger
Sub, </FONT>a wholly-owned subsidiary of First Mid, and the transactions contemplated therein. Merger Sub <FONT STYLE="font-family: Times New Roman, Times, Serif">will
be the surviving entity in the merger and continue its corporate existence as a wholly-owned subsidiary of First Mid</FONT>. Stockholders
of Delta should read this proxy statement/prospectus carefully and in its entirety, including the appendices, for more detailed information
concerning the merger agreement and the transactions contemplated therein. A copy of the merger agreement is attached to this proxy statement/prospectus
as <I>Appendix&nbsp;A</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>For the reasons discussed in this proxy statement/prospectus,
the board of directors of Delta unanimously determined that the merger agreement and the transactions contemplated therein are in the
best interests of Delta and its stockholders, and unanimously adopted and approved the merger agreement. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>The board of directors of Delta unanimously
recommends that Delta stockholders vote &#8220;FOR&#8221; approval of the merger agreement and the transactions contemplated therein.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="a_038"></A>Proposal 2&#8212;Adjournment
of the Special Meeting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If, at the Delta special meeting, the number of
shares of Delta common stock cast in favor of the merger agreement is insufficient to approve the merger agreement and the transactions
contemplated therein, Delta intends to move to adjourn the Delta special meeting in order to enable the board of directors of Delta to
solicit additional proxies for approval of the merger agreement and the transactions contemplated therein. In this proposal, Delta is
asking its stockholders to authorize the holder of any proxy solicited by the board of directors of Delta, on a discretionary basis, to
vote in favor of adjourning the Delta special meeting to another time and place for the purpose of soliciting additional proxies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>The board of directors of Delta unanimously
recommends a vote &#8220;FOR&#8221; the proposal to adjourn the special meeting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_039"></A>THE
MERGER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>This section of the proxy statement/prospectus
describes material aspects of the merger. While First Mid and Delta believe that the description covers the material terms of the merger
and the related transactions, this summary may not contain all of the information that is important to you. You should carefully read
this entire proxy statement/prospectus, the attached Appendices and the other documents to which this proxy statement/prospectus refers
for a more complete understanding of the merger. The merger agreement attached hereto as Appendix&nbsp;A, not this summary, is the legal
document which governs the merger.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_040"></A>General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The board of directors of Delta is using this proxy statement/prospectus
to solicit proxies from the holders of Delta common stock for use at the Delta special meeting of stockholders at which Delta stockholders
will be asked to vote on approval of the merger agreement and thereby approve the merger. When the merger is consummated, Delta will merge
with and into Merger Sub, a wholly-owned subsidiary of First Mid, and Merger Sub will be the surviving entity. The separate corporate
existence of Delta will terminate as a result of the merger. The merger is anticipated to be completed in late 2021. Following the completion
of the merger, Merger Sub will be merged with and into First Mid, with First Mid as the surviving entity. At a time to be determined by
First Mid, First Mid will cause the merger of Jefferson Bank with and into First Mid Bank, with First Mid Bank being the surviving entity.
At such time, Jefferson Bank&#8217;s banking offices will become banking offices of First Mid Bank. Until the banks are merged, First
Mid will own and operate Jefferson Bank and First Mid Bank as separate bank subsidiaries. Under the merger agreement, the officers and
directors of First Mid serving at the effective time of the merger will continue to serve as the officers and directors of First Mid after
the merger is consummated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the merger is completed, each share of Delta
common stock which Delta stockholders own immediately before the completion of the merger will be converted into the right to receive
$352.26 per share in cash without interest and 55.1061 shares of common stock, par value $4.00 per share, of First Mid, less any applicable
taxes required to be withheld and subject to certain adjustments set forth in the merger agreement. Additionally, Delta&#8217;s outstanding
stock options will be fully vested upon consummation of the merger, and all outstanding Delta stock options that are unexercised prior
to the closing will be cashed out pursuant to the terms of the merger agreement. Only whole shares of First Mid common stock will be issued
in the merger. As a result, cash will be paid instead of any fractional shares in an amount, rounded to the nearest whole cent, determined
by multiplying the Closing First Mid Common Stock Price by the fractional share of First Mid common stock to which such former holder
would otherwise be entitled. Shares of Delta common stock held by Delta stockholders who elect to exercise their dissenters&#8217; rights
will not be converted into merger consideration.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_041"></A>Background of the merger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta&#8217;s board of directors and management
have regularly reviewed and discussed Delta&#8217;s business strategy, performance, and opportunities in the context of the economic environment,
developments in the regulation of financial institutions, and the competitive landscape. In connection with Delta&#8217;s evaluation of
strategic alternatives, members of management and the board of directors have had, over the years, communications with representatives
of other financial institutions and have updated the board regarding these discussions. The Delta board has always recognized that its
fiduciary duty to its stockholders encompassed consideration of a business combination, merger, or sale of Delta that might strengthen
Delta&#8217;s business and offer enhanced value to its stockholders and greater market liquidity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta&#8217;s board of directors and management
also regularly discuss and evaluate potential risks that Delta faces in executing its current strategy, including exposure to national
and local economic conditions, interest rate risks, increasing regulatory burden, and the aging of Delta&#8217;s and Jefferson Bank&#8217;s
directors and senior management team. The board and the senior management team evaluate the benefits and risks of strategic alternatives
based upon what they believe will create stockholder value, further Delta&#8217;s strategic objectives, and better serve, satisfy, and
grow Delta&#8217;s customer base.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid&#8217;s board of directors and management
regularly review and discuss acquisition opportunities and strategies for growth as part of its ongoing efforts to strengthen its businesses
and improve its operations and performance in order to create value for its stockholders, including reviewing strategic alternatives with
its investment banking and financial advisors and its legal counsel Schiff Hardin LLP. Among other things, these discussions have included
dialogue about possible strategic opportunities for growth available to First Mid and potential acquisitions or business combinations
involving various other financial institutions.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Over the past several years, Joseph R. Dively,
Chairman and Chief Executive Officer of First Mid, and Michael J. Ross, Chairman and President of Delta and Chairman of Jefferson Bank;
John L. Dulle, Executive Vice President of Delta and President and Chief Executive Officer of Jefferson Bank, have had informal, high-level
discussions regarding the general nature of their respective businesses and the industry as a whole, including the opportunities and challenges
faced by banks in the current environment and opportunities where the two organizations could work together. Through these discussions,
Messrs. Ross, Dulle, and Dively gained insight and historical perspective on the other organization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On November 5, 2020, Messrs. Ross, Dulle, and Dively
met in person to discuss how Delta and First Mid could work together to offer enhanced value to Delta&#8217;s and First Mid&#8217;s stockholders
and create greater market liquidity for both companies. In this meeting, Mr. Dively expressed First Mid&#8217;s interest in exploring
a strategic transaction if Delta had an interest. Messrs. Ross, Dulle, and Dively engaged in subsequent discussions by telephone and email
in November and early December, 2020 regarding the terms of proposed combination. So that First Mid could review high-level data regarding
Delta and Jefferson Bank to be in a position to provide an indication as to valuation of Delta in a potential transaction, on November
12, 2020 First Mid requested to enter into a customary confidentiality and nondisclosure agreement with Delta.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On December 6, 2020, Delta and First Mid entered
into a confidentiality and nondisclosure agreement allowing First Mid to commence a preliminary diligence review of Delta in connection
with anticipated discussions between the parties regarding the terms of a proposed transaction. The confidentiality and nondisclosure
agreement provided that First Mid and its representatives would keep confidential and not disclose any confidential information made available
to them by Delta or Jefferson Bank, and provided that any questions or requests for information should be directed to Messrs. Ross and
Dulle. The confidentiality and nondisclosure agreement contained a provision whereby the parties agreed not to solicit each other&#8217;s
employees and customers for a period of one year. In addition, the confidentiality and nondisclosure agreement provided that the parties
were under no obligation to negotiate a definitive agreement regarding a proposed transaction and Delta granted no exclusivity to First
Mid. Given the non-solicitation provision, lack of exclusivity or termination fee, and the protections against disclosure of Delta&#8217;s
and Jefferson Bank&#8217;s confidential information set forth in the confidentiality and nondisclosure agreement, Messrs. Ross and Dulle
believed it to be prudent to cause Delta to enter into the confidentiality and nondisclosure agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On December 29, 2020, First Mid provided Delta
with a preliminary due diligence request list to review high-level, preliminary diligence materials. Delta uploaded the requested due
diligence materials to an online data room and made the data room available to First Mid and its representatives. On February 12, 2021,
Mr. Dively confirmed to Mr. Dulle that all requested preliminary due diligence materials had been uploaded to the data room.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Given the preliminary nature of the discussions
between the parties, no formal meeting of the board of Delta was held in to discuss the potential transaction with First Mid between November
2020 and February 2021; provided, however, that Messrs. Ross and Dulle provided updates to various members of the board on several occasions
during this timeframe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On February 25, 2021, Messrs. Ross, Dulle, and
Dively had a high-level discussion regarding valuation of Delta. Following such discussion, on March 2, 2021, Mr. Ross received a proposed
preliminary, non-binding letter of intent from Mr. Dively. Pursuant to the letter of intent and subject to confirmatory diligence, First
Mid offered Delta stockholders stock consideration of 55.1061 shares of First Mid&#8217;s common stock per share of Delta common stock,
plus a fixed amount of cash per share of $360.30. The letter of intent also indicated that First Mid would cash out all of Delta&#8217;s
outstanding stock options. Based on the closing price of First Mid stock on February 24, 2021 of $37.05, the consideration offered implied
an aggregate deal value of approximately $100 million (2,282,512 shares of First Mid&#8217;s common stock, plus $15.4 million in cash).
Messrs. Ross and Dulle discussed the letter of intent with Delta&#8217;s outside legal counsel, Armstrong Teasdale LLP, during which Armstrong
Teasdale LLP described the fiduciary duties of management and the board of directors in light of the offer set forth in the letter of
intent and how to satisfy such fiduciary duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Between March 2, 2021 and March 18, 2021, the members
of Delta management and members of the board discussed the terms of the letter of intent, the possible transaction with First Mid, potential
responses to First Mid, and the potential impact such a transaction would have on its customers and its stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Between March 5, 2021 and March 16, 2021 Messrs.
Ross and Dulle engaged in discussions with Piper Sandler &amp; Co. (&#8220;Piper Sandler&#8221;) regarding the engagement of Piper Sandler
as Delta&#8217;s financial advisor and negotiated an engagement letter in connection therewith. Given Piper Sandler&#8217;s substantial
experience in community bank mergers and acquisitions in the region, Messrs. Ross and Dulle deemed it appropriate to explore the engagement
of Piper Sandler without meeting with other potential financial advisors. On March 16, 2021, Delta entered into an engagement letter with
Piper Sandler.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 18, 2021, Mr. Ross, Mr. Dulle, representatives
of Piper Sandler, and representatives of Armstrong Teasdale LLP met to discuss the proposed letter of intent, including a valuation analysis,
review of the transaction structure, review of the Delta board&#8217;s fiduciary duties and discussion of analysis of strategic alternatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 18, 2021, Mr. Ross provided a copy of
the letter of intent to all Delta directors and provided an update on the discussions with Piper Sandler and Armstrong Teasdale LLP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 19, 2021, the members of the Delta board
met to discuss the letter of intent. Mr. Dively attended a portion of the meeting to introduce himself to the board and make a presentation
regarding First Mid and its background, business strategy, and prior acquisitions. Following Mr. Dively&#8217;s presentation, the board
engaged in extensive deliberation regarding the proposal set forth in the letter of intent and the guidance of Delta&#8217;s legal and
financial advisors. The board considered that the terms proposed by First Mid in the letter of intent represented a significant premium
to the Company&#8217;s book value and was at a price level that the board believed would be adequate to warrant a sale of the Company.
The board also considered that the letter of intent contained an exclusivity period and whether it was prudent to proceed with the execution
of the letter of intent or to contact other parties as part of the process at this stage. Based on the results of management&#8217;s prior
preliminary discussions with other prospective buyers in recent years that did not provide as high of a valuation of Delta&#8217;s stock
nor the liquidity to stockholders that First Mid could provide as a publicly-traded company, the board determined that it was reasonable
to grant First Mid a period of up to 90 days of exclusivity while the parties engaged in confidential confirmatory diligence and negotiated
a definitive merger agreement. The board voted unanimously to authorize Delta&#8217;s management to execute the letter of intent and move
forward with First Mid to complete confirmatory due diligence and engage in confidential discussions to negotiate a definitive merger
agreement. The board based this decision on, among other things, the strength of First Mid&#8217;s proposed merger consideration, the
willingness of First Mid to structure the merger consideration with a mix of cash and First Mid common stock, the liquidity for stockholders
resulting from the receipt of First Mid&#8217;s publicly-traded stock as consideration, prior discussions over the past several years
between management and other potential merger partners that did not provide the same level of merger consideration or liquidity, the perceived
&#8220;fit&#8221; of First Mid for the customers, stockholders, and employees of Delta and Jefferson Bank, the importance of maintaining
confidentiality and protecting Delta&#8217;s franchise value, and the likelihood that a definitive agreement could be quickly finalized
with First Mid. The board also considered First Mid&#8217;s track record of accomplishing mergers successfully, as First Mid had recently
closed its acquisition of LINCO Bancshares, Inc. in February 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 19, 2021, Mr. Ross executed the letter
of intent on behalf of Delta. The letter of intent provided for a 90-day exclusivity period in favor of First Mid during which First Mid
could conduct confirmatory diligence, Delta could conduct reverse diligence on First Mid, and the parties would negotiate a merger agreement,
subject to the protections against disclosure of confidential information set forth in the confidentiality and nondisclosure agreement
entered into by the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 23, 2021, Stephens provided a confirmatory
diligence request list regarding Delta to Piper Sandler requesting more detailed financial, business, and loan information. Delta&#8217;s
loan files were digitized so that First Mid could conduct its financial and loan due diligence remotely. On June 25, 2021, Messrs. Ross,
Dulle, and Dively, together with Jefferson Bank Executive Vice President and Chief Financial Officer Bradley A. Locke and representatives
First Mid&#8217;s loan review team met by telephone to discuss the results of First Mid&#8217;s review of Jefferson Bank&#8217;s loan
files and to provide First Mid the opportunity to ask questions of Jefferson Bank management.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On June 16, 2021, First Mid and Schiff Hardin LLP
provided Delta and Armstrong Teasdale LLP with an initial draft merger agreement for the proposed transaction, and First Mid and Delta
agreed to extend the exclusivity period in favor of First Mid through the end of July 2021. Over the course of the following weeks, the
parties and their respective legal advisors exchanged multiple drafts of the merger agreement and disclosure schedules thereto, the material
terms of which were discussed with members of the board of directors of each of First Mid and Delta, and worked toward finalizing the
terms of the transaction, including: the representations and warranties to be given by the parties; the operational covenants regarding
Delta&#8217;s actions between signing of the merger agreement and the closing of a transaction; a mechanism to adjust the level of merger
consideration in the event that Delta does not meet a certain level of adjusted minimum shareholder equity; the inclusion of a double-trigger
termination provision and the different thresholds affecting termination; the treatment of various compensation arrangements for Delta
employees and directors; and the provisions regarding a termination fee and Delta&#8217;s ability to pursue other transactions if necessary
to satisfy the Delta&#8217;s board&#8217;s fiduciary duties. During this period of negotiation, the parties and their representatives
continued to conduct ongoing, reciprocal, comprehensive due diligence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In mid-June 2021, Piper Sandler provided Stephens
with a reverse due diligence request list regarding First Mid. On June 25, 2021, Delta, Piper Sandler, and Armstrong Teasdale LLP were
granted access to an online data room which contained due diligence documents uploaded on behalf of First Mid. In addition to reviewing
these materials, representatives of Delta reviewed publicly available SEC filings and financial statements. On July 8, 2021, representatives
of First Mid, Delta, Stephens, Piper Sandler, and Armstrong Teasdale LLP met by telephone to discuss Delta&#8217;s follow-up questions
in connection with its diligence review of First Mid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Based on the results of its confirmatory diligence
review of Jefferson&#8217;s Bank loan portfolio and recent financial information, First Mid requested to discuss a potential reduction
in the merger consideration originally proposed in the letter of intent. On July 20, 2021, representatives of First Mid and Delta discussed
at length and agreed on a compromise whereby each share of Delta common stock would continue to receive 55.1061 shares of First Mid Common
Stock as proposed in the letter of intent, but the cash consideration per share would be reduced to $352.26 from $360.30 as proposed in
the letter of intent. Representatives of Delta consulted with Delta&#8217;s legal and financial advisors and determined that that the
reduced cash consideration per share was reasonable given the financial performance of Delta and Jefferson Bank and that the revised merger
consideration still reflected a substantial premium to book value that was in the best interests of stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 23, 2021, the Delta board of directors
met with representatives of Armstrong Teasdale LLP and Piper Sandler to review the principal terms of the draft merger agreement and the
final merger consideration proposal based on completion of First Mid&#8217;s confirmatory diligence. Prior to the meeting, the directors
were provided a substantially final version of the merger agreement. At the meeting, representatives of Armstrong Teasdale LLP discussed
the board&#8217;s fiduciary duties, provided an overview of the material terms of the merger agreement, and provided the board an opportunity
to ask questions regarding the legal aspects of the merger agreement. Representatives from Piper Sandler discussed and reviewed the recent
stock market performance for similarly situated banks and presented a summary of publicly available financial and pricing information
for comparable merger and acquisition transactions. The Delta board of directors also reviewed First Mid&#8217;s recent financial performance,
stock performance and trading volume. Representatives from Piper Sandler also discussed in detail the sale process to date and answered
questions about the proposed financial terms of the transaction. The Delta board of directors discussed the transaction at length, including
the pricing and exchange ratios, the necessary regulatory approval requirements, the possible termination fees that may be incurred, and
certain rights provided to Delta in the event of a substantial decrease in the price of First Mid&#8217;s common stock prior to closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Following further discussion and questions and
answers, the Delta board unanimously agreed that Armstrong Teasdale LLP should continue working with Schiff Hardin LLP to finalize the
merger agreement for consideration by the board of directors at a special meeting scheduled for July 28, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Between July 23, 2021 and July 28, 2021, First
Mid, Delta, and their respective legal and financial advisors continued to discuss and negotiate the final aspects of the merger agreement
and its exhibits and schedules. This process included the management teams of First Mid and Delta having various discussions with their
respective advisors.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 27, 2021, the First Mid board of directors
was provided with an update on the terms of the proposed transaction and the status of the merger agreement by First Mid&#8217;s management
team, Schiff Hardin LLP and First Mid&#8217;s financial advisor, Stephens Inc.&nbsp; The board was also provided with and reviewed a resolution
of the board to be adopted approving the terms of the proposed transaction and the merger agreement.&nbsp; After a review of these materials,
and an opportunity to discuss any questions or concerns the board had with respect to the proposed transaction and the merger agreement,
the board determined that the merger agreement and the transactions contemplated thereby, including the issuance of shares of First Mid
common stock to Delta shareholders, were advisable and in the best interests of First Mid and its stockholders, and thereafter unanimously
approved the merger agreement and the transactions contemplated thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 28, 2021, the Delta board held a special
meeting to discuss the proposed transaction, proposed final version of the merger agreement and the exhibits and schedules thereto, and
the proposed final version of the voting agreement, with representatives of Armstrong Teasdale LLP and Piper Sandler in attendance. Members
of management were also in attendance. Armstrong Teasdale LLP reviewed in detail the final terms of the merger agreement with the Delta
board, including a description of the changes since the previous draft provided to the board as discussed at the July 23, 2021 board meeting.
Armstrong Teasdale LLP also provided the board with a resolution of the board to be adopted approving the terms of the proposed transaction
and the merger agreement, which was reviewed in detail by the board members.&nbsp; Representatives of Piper Sandler reviewed its financial
analyses of the proposed transaction and rendered its oral opinion (which was subsequently delivered in writing at the conclusion of the
meeting) to the effect that as of that date, and based upon and subject to the assumptions, considerations, qualifications and limitations
set forth in the written opinion, the merger consideration was fair, from a financial point of view, to the stockholders of Delta common
stock. Following extensive discussion, review of the merger agreement and related documents, and questions and answers, including consideration
of the factors described under &#8220;Delta&#8217;s Reasons for the Merger&#8221;, the Delta board determined that the merger agreement
and the transactions contemplated thereby was advisable and in the best interests of Delta and its stockholders. The Delta board of directors
then unanimously approved the merger agreement and the transactions contemplated thereby. .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 28, 2021, after the closing of the market,
First Mid and Delta executed the merger agreement and voting agreement. On July 29, 2021, before the opening of the market, First Mid
and Delta issued a joint press release announcing the execution of the merger agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><A NAME="a_042"></A>Delta&#8217;s reasons for the merger and recommendation of the board
of directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At its meeting on July 28, 2021, the Delta board
of directors unanimously determined that the merger agreement and the transactions contemplated therein, including the merger, were in
the best interests of Delta and its stockholders and recommended that Delta&#8217;s stockholders vote &#8220;<B>FOR</B>&#8221; the merger
proposal. In deciding to approve the merger agreement and the transactions contemplated therein, the Delta board of directors consulted
with Delta&#8217;s executive management, its financial advisors, and its legal counsel and considered a number of factors. While all of
the reasons considered were of importance, the board determined that First Mid&#8217;s commitment to the community and the opportunity
to provide Delta&#8217;s customers with access to a larger banking network and an expanded array of services were particularly important
were particularly important. In addition, First Mid&#8217;s size offered greater opportunities to deal with customer expectations related
to technology, address increasing regulatory requirements and effectively compete in an environment with changing marketplace demographics
and untaxed credit union competition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">Other
material factors supporting the board&#8217;s determination include, in no certain order:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the combined company may have a sufficient size and scale to more efficiently compete in a highly competitive industry;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the combined company's potential to increase stockholder value and to create opportunities for enhanced earnings and potential dividends,
while eliminating the effect of long-term business and execution risks to shareholders;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the continuity of First Mid&#8217;s dividends and stock value;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>increased liquidity for Delta's stockholders resulting from the merger, and the fact that First Mid&#8217;s common shares are traded
on the NASDAQ Stock Market;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the current and prospective business and economic environment in which Delta operates, including local and regional economic conditions;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the continuing consolidation in the financial services industry;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the uncertainties in the economic climate going forward;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the business, earnings, operations, financial condition, management, prospects, capital levels and asset quality of First Mid;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the form and amount of merger consideration as compared to the book value of Delta&#8217;s stock, and the ability of Delta's stockholders
to participate in the future performance of the combined company;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Delta&#8217;s board of directors&#8217; belief that First Mid is a high-quality financial services company with a compatible business
culture and shared approach to customer service and increasing stockholder value;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>economies of scale with respect to overhead and operating expenses of the combined company;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the effect of the merger on Delta's employees, including the prospects for continued employment and the other benefits agreed to be
provided by First Mid to Delta's employees;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the aging of Delta&#8217;s and Jefferson Bank&#8217;s management and the belief that First Mid&#8217;s management team will provide
long-term continuity for stockholders and customers;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the effect of the merger on Delta's customers and the communities in which they conduct business; and</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the financial analyses of Piper Sandler, Delta&#8217;s independent financial advisor, and its written opinion, dated as of July 28,
2021, delivered to the Delta board of directors to the effect that, as of that date, and subject to and based on the various assumptions,
considerations, qualifications and limitations set forth in the opinion, the merger consideration was fair, from a financial point of
<FONT STYLE="font-family: Times New Roman, Times, Serif">view, to the holders of Delta common stock.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">The
Delta board of directors also considered a variety of potential risks and uncertainties in its deliberations concerning the merger agreement
and the transactions contemplated therein, including the following, which are not presented in order of priority:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Delta would lose the autonomy associated with being an independent financial institution;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the fact that, while Delta expects that the merger will be consummated, there can be no assurance that all conditions to the parties'
obligations to complete the merger will be satisfied, including the risks that necessary regulatory or stockholder approvals might not
be obtained and, as a result, the Merger may not be consummated;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the risk that any potential benefits and synergies sought in the merger may not be realized or may not be realized within the expected
time period, and the risks associated with the integration of the two companies;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the restrictions on the conduct of Delta's business prior to the completion of the merger, which are customary for merger agreements
such as the merger agreement between Delta and First Mid, but which, subject to specific exceptions, could delay or prevent Delta from
undertaking business opportunities that may arise or any other action it would otherwise take with respect to the operations of Delta
absent the pending completion of the merger;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the significant risks and costs involved in entering into and completing the merger, of failing to complete the merger in a timely
manner, or at all, including as a result of any failure to obtain required regulatory approvals, such as the risks and costs relating
to diversion of management and employee attention, potential employee attrition, and the potential effect on business and customer relationships;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the fact that Delta would be prohibited from affirmatively soliciting acquisition proposals after execution of the merger agreement,
and the possibility that the $3,090,000 termination fee payable by Delta upon the termination of the Merger Agreement under certain circumstances
could discourage other potential acquirers from making a competing bid to acquire Delta;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the possibility of litigation in connection with the merger; and</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the possibility that the market value of the First Mid common stock that constitutes merger consideration may decline between the
date of the merger agreement (when the share ratios were fixed) and the date of closing.</TD></TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Delta board of directors was also aware that
some Delta officers and directors may have financial interests in the merger that are different from, or are in addition to, the interests
of Delta stockholders and took those interests into consideration in its review of the merger. See &#8220;The Merger&#8212;Interests of
certain persons in the merger&#8221; on page 50.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The above discussion of the information and factors
considered by Delta&#8217;s board of directors is not intended to be exhaustive, but includes a description of material factors considered
by the Delta board of directors. In view of the wide variety of factors considered by the Delta board of directors in connection with
its evaluation of the merger, the Delta board of directors did not consider it practical to, nor did it attempt to, quantify, rank or
otherwise assign relative weights to the specific factors that it considered. In considering the factors described above, individual directors
may have given differing weights to different factors. Delta&#8217;s board of directors unanimously made its determination with respect
to the merger based on the conclusion reached by its members based on the factors that each of them considered appropriate, that the merger
is in the best interests of Delta&#8217;s stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">After considering the foregoing and other relevant
factors and risks, and their overall impact on the stockholders and other constituencies of Delta, the Delta board of directors concluded
that the anticipated benefits of the merger outweighed the anticipated risks of the transaction. Accordingly, Delta&#8217;s board of directors
unanimously approved the merger agreement and the merger, and the board of directors unanimously recommends that Delta stockholders vote
&#8220;<B>FOR</B>&#8221; approval of the merger agreement and the transactions contemplated therein.</P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_043"></A>Opinion of Financial Advisor to Delta</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">Delta
retained Piper Sandler to act as financial advisor to Delta&#8217;s board of directors in connection with Delta&#8217;s consideration
of a possible business combination with First Mid. Delta selected Piper Sandler to act as its financial advisor because Piper Sandler
is a nationally recognized investment banking firm whose principal business specialty is financial institutions. In the ordinary course
of its investment banking business, Piper Sandler is regularly engaged in the valuation of financial institutions and their securities
in connection with mergers and acquisitions and other corporate transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler acted as financial advisor to Delta&#8217;s
board of directors in connection with the proposed merger and participated in certain of the negotiations leading to the execution of
the merger agreement. At the July 28, 2021 meeting at which Delta&#8217;s board of directors considered the merger and the merger agreement,
Piper Sandler delivered to the board of directors its oral opinion, which was subsequently confirmed in writing on July 28, 2021, to the
effect that, as of such date, the merger consideration was fair to the holders of Delta&#8217;s common stock from a financial point of
view. <B>The full text of Piper Sandler&#8217;s opinion is attached as Appendix D to this proxy statement. The opinion outlines the procedures
followed, assumptions made, matters considered and qualifications and limitations on the review undertaken by Piper Sandler in rendering
its opinion. The description of the opinion set forth below is qualified in its entirety by reference to the full text of the opinion.
Holders of Delta common stock are urged to read the entire opinion carefully in connection with their consideration of the proposed merger.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler&#8217;s opinion was directed to
the board of directors of Delta in connection with its consideration of the merger and the merger agreement and does not constitute a
recommendation to any shareholder of Delta as to how any such shareholder should vote at any meeting of shareholders called to consider
and vote upon the approval of the merger and the merger agreement. Piper Sandler&#8217;s opinion was directed only to the fairness, from
a financial point of view, of the merger consideration to the holders of Delta common stock and did not address the underlying business
decision of Delta to engage in the merger, the form or structure of the merger or any other transactions contemplated in the merger agreement,
the relative merits of the merger as compared to any other alternative transactions or business strategies that might exist for Delta
or the effect of any other transaction in which Delta might engage. Piper Sandler also did not express any opinion as to the fairness
of the amount or nature of the compensation to be received in the merger by any officer, director or employee of Delta or First Mid, or
any class of such persons, if any, relative to the compensation to be received in the merger by any other shareholder. Piper Sandler&#8217;s
opinion was approved by Piper Sandler&#8217;s fairness opinion committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with its opinion, Piper Sandler
reviewed and considered, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>An execution copy of the merger agreement;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>certain publicly available financial statements and other historical financial information of Delta that Piper Sandler deemed relevant;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>certain publicly available financial statements and other historical financial information of First Mid that Piper Sandler deemed
relevant;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>certain internal financial projections for Delta for the year ending December 31, 2021 with estimated annual long-term balance sheet
and net income growth rates and estimated dividends per share for Delta for the years ending December 31, 2022 through December 31, 2025,
as provided by the senior management of Delta;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>publicly available median analyst earnings per share estimates for First Mid for the six months ending December 31, 2021 and the year
ending December 31, 2022, as well as estimated annual long-term balance sheet and net income growth rates for First Mid for the years
ending December 31, 2023 through December 31, 2025 and estimated dividends per share for First Mid for the years ending December 31, 2021
through December 31, 2025, as provided by First Mid&#8217;s representatives;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the pro forma financial impact of the merger on First Mid based on certain assumptions relating to transaction expenses, purchase
accounting adjustments and cost savings, as well as estimated net income for Delta for the years ending December 31, 2022 through December
31, 2023 with estimated annual long-term net income growth rates for Company for the years ending December 31, 2023 through December 31,
2025, as provided by First Mid&#8217;s representatives;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the publicly reported historical price and trading activity for First Mid common stock, including a comparison of certain stock trading
information for First Mid common stock and certain stock indices, as well as similar publicly available information for certain other
companies, the securities of which are publicly traded;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a comparison of certain financial and market information for Delta and First Mid with similar financial institutions for which information
is publicly available;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the financial terms of certain recent business combinations in the bank and thrift industry (on a regional basis), to the extent publicly
available;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the current market environment generally and the banking environment in particular; and</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>such other information, financial studies, analyses and investigations and financial, economic and market criteria as Piper Sandler
considered relevant.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler also discussed with certain members
of the senior management of Delta and its representatives the business, financial condition, results of operations and prospects of Delta
and held similar discussions with certain members of the senior management of First Mid and its representatives regarding the business,
financial condition, results of operations and prospects of First Mid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In performing its review, Piper Sandler relied
upon the accuracy and completeness of all of the financial and other information that was available to and reviewed by Piper Sandler from
public sources, that was provided to Piper Sandler by Delta, First Mid or their respective representatives, or that was otherwise reviewed
by Piper Sandler, and Piper Sandler assumed such accuracy and completeness for purposes of rendering its opinion without any independent
verification or investigation. Piper Sandler further relied on the assurances of the respective managements of Delta and First Mid that
they were not aware of any facts or circumstances that would have made any of such information inaccurate or misleading in any respect
to Piper Sandler&#8217;s analyses. Piper Sandler was not asked to and has not undertaken an independent verification of any of such information
and Piper Sandler did not assume any responsibility or liability for the accuracy or completeness thereof. Piper Sandler did not make
an independent evaluation or perform an appraisal of the specific assets, the collateral securing assets or the liabilities (contingent
or otherwise) of Delta or First Mid, nor was Piper Sandler furnished with any such evaluations or appraisals. Piper Sandler rendered no
opinion or evaluation on the collectability of any assets or the future performance of any loans of Delta or First Mid. Piper Sandler
did not make an independent evaluation of the adequacy of the allowance for loan losses of Delta or First Mid, or of the combined entity
after the merger, and Piper Sandler did not review any individual credit files relating to Delta or First Mid. Piper Sandler assumed,
with Delta&#8217;s consent, that the respective allowances for loan losses for both Delta and First Mid were adequate to cover such losses
and would be adequate on a pro forma basis for the combined entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In preparing its analyses, Piper Sandler used certain
internal financial projections for Delta for the year ending December 31, 2021 with estimated annual long-term balance sheet and net income
growth rates and estimated dividends per share for Delta for the years ending December 31, 2022 through December 31, 2025, as provided
by the senior management of Delta. In addition, Piper Sandler used publicly available median analyst earnings per share estimates for
First Mid for the six months ending December 31, 2021 and the year ending December 31, 2022, as well as estimated annual long-term balance
sheet and net income growth rates for First Mid for the years ending December 31, 2023 through December 31, 2025 and estimated dividends
per share for First Mid for the years ending December 31, 2021 through December 31, 2025, as provided by First Mid&#8217;s representatives.
Piper Sandler also received and used in its pro forma analyses certain assumptions relating to transaction expenses, purchase accounting
adjustments and cost savings, as well as estimated net income for Delta for the years ending December 31, 2022 through December 31, 2023
with estimated annual long-term net income growth rates for Delta for the years ending December 31, 2023 through December 31, 2025, as
provided by First Mid&#8217;s representatives. With respect to the foregoing information, the respective senior managements of Delta and
First Mid confirmed to Piper Sandler that such information reflected (or, in the case of the publicly available analyst estimates referred
to above, were consistent with) the best currently available projections, estimates and judgements of those respective senior managements
as to the future financial performance of Delta and First Mid, respectively, and Piper Sandler assumed that the financial results reflected
in such information would be achieved. Piper Sandler expressed no opinion as to such projections, estimates or judgements, or the assumptions
on which they were based. Piper Sandler also assumed that there had been no material change in First Mid&#8217;s or Delta&#8217;s assets,
financial condition, results of operations, business or prospects since the date of the most recent financial statements made available
to Piper Sandler. Piper Sandler assumed in all respects material to its analyses that Delta and First Mid would remain as going concerns
for all periods relevant to its analyses.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler also assumed, with Delta&#8217;s
consent, that (i) each of the parties to the merger agreement would comply in all material respects with all material terms and conditions
of the merger agreement and all related agreements to effect the merger, that all of the representations and warranties contained in such
agreements were true and correct in all material respects, that each of the parties to such agreements would perform in all material respects
all of the covenants and other obligations required to be performed by such party under such agreements and that the conditions precedent
in such agreements were not and would not be waived, (ii) in the course of obtaining the necessary regulatory or third party approvals,
consents and releases with respect to the merger, no delay, limitation, restriction or condition would be imposed that would have an adverse
effect on Delta, First Mid, the merger or any related transactions, and (iii) the merger and any related transactions would be consummated
in accordance with the terms of the merger agreement without any waiver, modification or amendment of any material term, condition or
agreement thereof and in compliance with all applicable laws and other requirements. Finally, with Delta&#8217;s consent, Piper Sandler
relied upon the advice that Delta received from its legal, accounting and tax advisors as to all legal, accounting and tax matters relating
to the merger and the other transactions contemplated by the merger agreement. Piper Sandler expressed no opinion as to any such matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler&#8217;s opinion was necessarily based
on financial, economic, regulatory, market and other conditions as in effect on, and the information made available to Piper Sandler as
of, the date thereof. Events occurring after the date thereof could materially affect Piper Sandler&#8217;s opinion. Piper Sandler has
not undertaken to update, revise, reaffirm or withdraw its opinion or otherwise comment upon events occurring after the date thereof.
Piper Sandler expressed no opinion as to the trading value of First Mid common stock at any time or what the value of First Mid common
stock would be once it is actually received by the holders of Delta common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In rendering its opinion, Piper Sandler performed
a variety of financial analyses. The summary below is not a complete description of all the analyses underlying Piper Sandler&#8217;s
opinion or the presentation made by Piper Sandler to Delta&#8217;s board of directors, but is a summary of the material analyses performed
and presented by Piper Sandler. The summary includes information presented in tabular format. <B>In order to fully understand the financial
analyses, these tables must be read together with the accompanying text. The tables alone do not constitute a complete description of
the financial analyses.</B> The preparation of a fairness opinion is a complex process involving subjective judgments as to the most appropriate
and relevant methods of financial analysis and the application of those methods to the particular circumstances. The process, therefore,
is not necessarily susceptible to a partial analysis or summary description. Piper Sandler believes that its analyses must be considered
as a whole and that selecting portions of the factors and analyses to be considered without considering all factors and analyses, or attempting
to ascribe relative weights to some or all such factors and analyses, could create an incomplete view of the evaluation process underlying
its opinion. Also, no company included in Piper Sandler&#8217;s comparative analyses described below is identical to Delta or First Mid
and no transaction is identical to the merger. Accordingly, an analysis of comparable companies or transactions involves complex considerations
and judgments concerning differences in financial and operating characteristics of the companies and other factors that could affect the
public trading values or transaction values, as the case may be, of Delta and First Mid and the companies to which they were compared.
In arriving at its opinion, Piper Sandler did not attribute any particular weight to any analysis or factor that it considered. Rather,
Piper Sandler made qualitative judgments as to the significance and relevance of each analysis and factor. Piper Sandler did not form
an opinion as to whether any individual analysis or factor (positive or negative) considered in isolation supported or failed to support
its opinion, rather, Piper Sandler made its determination as to the fairness of the merger consideration to the holders of Delta common
stock on the basis of its experience and professional judgment after considering the results of all its analyses taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In performing its analyses, Piper Sandler also
made numerous assumptions with respect to industry performance, business and economic conditions and various other matters, many of which
cannot be predicted and are beyond the control of Delta, First Mid, and Piper Sandler. The analyses performed by Piper Sandler are not
necessarily indicative of actual values or future results, both of which may be significantly more or less favorable than suggested by
such analyses. Piper Sandler prepared its analyses solely for purposes of rendering its opinion and provided such analyses to Delta&#8217;s
board of directors at its July 28, 2021 meeting. Estimates on the values of companies do not purport to be appraisals or necessarily reflect
the prices at which companies or their securities may actually be sold. Such estimates are inherently subject to uncertainty and actual
values may be materially different. Accordingly, Piper Sandler&#8217;s analyses do not necessarily reflect the value of Delta common stock
or First Mid common stock or the prices at which Delta or First Mid common stock may be sold at any time. The analyses of Piper Sandler
and its opinion were among a number of factors taken into consideration by Delta&#8217;s board of directors in making its determination
to approve the merger agreement and the analyses described below should not be viewed as determinative of the decision of Delta&#8217;s
board of directors with respect to the fairness of the merger consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Summary of Proposed Merger Consideration and Implied Transaction
Metrics.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler reviewed the financial terms of the
proposed merger. Pursuant to the terms of the merger agreement, at the effective time of the merger each share of Delta common stock issued
and outstanding immediately prior to the effective time of the transaction, except for certain shares as set forth in the merger agreement,
shall be converted into and become the right to receive (i) 55.1061 shares of First Mid common stock, and (ii) $352.26 in cash. Piper
Sandler calculated an aggregate implied transaction value of approximately $105.0 million and an implied purchase price per share of $2,521.24
consisting of the implied value of 41,420.3 shares of Delta common stock based on the closing price of First Mid common stock on July
26, 2021. Based upon financial information for Delta as of or for the last twelve months (&#8220;LTM&#8221;) ended June 30, 2021 and the
closing price of Delta&#8217;s common stock on July 26, 2021, Piper Sandler calculated the following implied transaction metrics:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; width: 89%">Transaction Price Per Share / Tangible Book Value Per Share</TD>
    <TD STYLE="white-space: nowrap; width: 11%; text-align: right">138%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap">Transaction Price Per Share / LTM Earnings Per Share</TD>
    <TD STYLE="white-space: nowrap; text-align: right">57.8x</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap">Transaction Price Per Share / Adjusted LTM Earnings Per Share<SUP>1</SUP></TD>
    <TD STYLE="white-space: nowrap; text-align: right">15.6x</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap">Tangible Book Premium / Core Deposits (CDs &gt; $100K)<SUP>2</SUP></TD>
    <TD STYLE="white-space: nowrap; text-align: right">6.6%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap">Tangible Book Premium / Core Deposits (CDs &gt; $250K)<SUP>2</SUP></TD>
    <TD STYLE="white-space: nowrap; text-align: right">5.8%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1</TD><TD>Consolidated LTM Net Income of $1.8M adjusted for LTM realized gains on securities of $106K and $6.3M provision expense related to
specifically identified credits, adjustments tax-effected at 21%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2</TD><TD>Time deposits as of June 30, 2021 as provided by Delta management</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Stock Trading History. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler reviewed the publicly available historical
reported trading price of First Mid common stock for the one-year and three-year periods ended July 26, 2021. Piper Sandler then compared
the relationship between the movements in the price of First Mid common stock to movements in its peer group (as described below) as well
as certain stock indices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>First Mid&#8217;s One-Year Stock Performance</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Beginning Value<BR> July 26, 2020</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Ending Value<BR> July 26, 2021</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">First Mid&#9;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">100</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">161.2</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">First Mid Peer Group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">142.0</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">S&amp;P 500 Index</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">136.5</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">NASDAQ Bank Index</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">164.4</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>First Mid&#8217;s Three-Year Stock Performance</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Beginning Value<BR> July 26, 2018</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Ending Value<BR> July 26, 2021</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left">First Mid&#9;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">100</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">96.6</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">First Mid Peer Group</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">90.3</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">S&amp;P 500 Index</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">155.9</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">NASDAQ Bank Index&#9;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">102.6</TD><TD STYLE="white-space: nowrap; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Comparable Company Analyses. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler used publicly available information
to compare selected financial information for Delta with a group of financial institutions selected by Piper Sandler. The Delta peer group
included banks and thrifts whose securities are publicly traded on a major exchange (NYSE, NYSEAM, NASDAQ), headquartered in the Midwest
region with total assets between $500 million and $1.5 billion, but excluded targets of announced merger transactions (the &#8220;Delta
Peer Group&#8221;). The Delta Peer Group consisted of the following companies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 46%">First Capital Inc.</TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 43%">Ohio Valley Banc Corp.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Guaranty Federal Bancshares Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Richmond Mutual Bancorporation, Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">HMN Financial Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">SB Financial Group Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">IF Bancorp Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">United Bancorp, Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Landmark Bancorp Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">United Bancshares, Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Limestone Bancorp Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">1895 Bancorp Wisconsin</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Middlefield Banc Corp.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The analysis compared publicly available financial
information for Delta with corresponding data for the Delta Peer Group as of or for the LTM ended March 31, 2021 (unless otherwise noted)
with pricing data as of July 26, 2021. The table below sets forth the data for Delta and the median, mean, low and high data for the Delta
Peer Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I></I></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Delta Comparable Company Analysis </U></P>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Delta</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Delta</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Delta</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Delta</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Peer Group</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Peer Group</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Peer Group</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Peer Group</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Delta</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Median</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Mean</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Low</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">High</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left">Total assets ($mm)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">697</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,188</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,074</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">517</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,360</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Loans/Deposits<SUP>1</SUP> (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">88.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75.7</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">77.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Non-performing assets<SUP>2 3</SUP>/Total assets (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.75</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.47</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.61</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.14</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.52</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Tangible common equity/Tangible assets (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.82</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.63</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.09</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.53</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.36</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Tier 1 Leverage Ratio<SUP>4</SUP> (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.07</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.92</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.32</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.70</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.19</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total RBC Ratio<SUP>5</SUP> (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.47</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.44</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.19</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.74</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.77</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>CRE/Total RBC<SUP>6</SUP> (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">174.7</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">188.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">205.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">64.7</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">283.7</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">LTM Return on average assets (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.73</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.12</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.12</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.31</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.86</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">LTM Return on average equity (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.48</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.19</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.34</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.77</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.78</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">LTM Net interest margin<SUP>7</SUP> (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.91</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.34</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.32</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.65</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.97</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">LTM Efficiency ratio (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49.69</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63.17</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">64.84</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">56.07</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">86.32</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Price/Tangible book value (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">114</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">84</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Price/LTM Earnings per share (x)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.2</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.6</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.2</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.4</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Price/2021E EPS (x)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.3</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.8</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.9</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Price/2022E EPS (x)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.2</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.7</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current Dividend Yield (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.2</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Market value ($mm)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">119</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">194</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">1</FONT></TD><TD><FONT STYLE="font-size: 9pt">Bank-level, regulatory financial data
                                            as of or for the period ended March 31, 2021 for Guaranty Federal Bancshares Inc.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">2</FONT></TD><TD><FONT STYLE="font-size: 9pt">Non-performing assets defined as nonaccrual
                                            loans and leases, renegotiated loans and leases, and real estate owned</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">3</FONT></TD><TD><FONT STYLE="font-size: 9pt">Bank-level, regulatory financial data
                                            as of or for the period ended March 31, 2021 for Middlefield Banc Corp., Guaranty Federal
                                            Bancshares Inc., United Bancshares Inc., HMN Financial Inc., United Bancorp Inc., 1895 Bancorp
                                            Wisconsin</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">4</FONT></TD><TD><FONT STYLE="font-size: 9pt">Bank-level, regulatory financial data
                                            as of or for the period ended March 31, 2021 for Middlefield Banc Corp., SB Financial Group
                                            Inc., Guaranty Federal Bancshares Inc., Richmond Mutual Bancorporation Inc., First Capital
                                            Inc., United Bancshares Inc., HMN Financial Inc., 1895 Bancorp Wisconsin</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">5</FONT></TD><TD><FONT STYLE="font-size: 9pt">Bank-level, regulatory financial data
                                            as of or for the period ended March 31, 2021 for Middlefield Banc Corp., SB Financial Group
                                            Inc., Richmond Mutual Bancorporation Inc., United Bancshares Inc., HMN Financial Inc., 1895
                                            Bancorp Wisconsin</FONT></TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">6</FONT></TD><TD><FONT STYLE="font-size: 9pt">Bank-level, regulatory financial data
                                            as of or for the period ended March 31, 2021 for Middlefield Banc Corp., Limestone Bancorp
                                            Inc., SB Financial Group Inc., Richmond Mutual Bancorporation Inc., United Bancshares Inc.,
                                            HMN Financial Inc., United Bancorp Inc., 1895 Bancorp Wisconsin</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">7</FONT></TD><TD><FONT STYLE="font-size: 9pt">Bank-level, regulatory financial data
                                            as of or for the period ended March 31, 2021 for United Bancshares Inc.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="font-size: 9pt">Note: Consolidated
financial data as of or for the period ended March 31, 2021 unless otherwise noted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="font-size: 9pt">Note: Consolidated
financial data as of or for the period ended June 30, 2021 for Middlefield Banc Corp., Limestone Bancorp Inc., Guaranty Federal Bancshares
Inc., Richmond Mutual Bancorporation Inc., United Bancshares Inc., HMN Financial Inc. unless otherwise noted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="font-size: 9pt">Note: Delta
Bancshares Company bank-level, regulatory financial data as of or for the period ended March 31, 2021, except for Total Assets, Loans/Deposits
and TCE/TA, which reflect consolidated financial data as of or for the period ended June 30, 2021</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler used publicly available information
to perform a similar analysis for First Mid by comparing selected financial information for First Mid with a group of financial institutions
selected by Piper Sandler. The First Mid peer group included banks and thrifts whose securities are publicly traded on a major exchange
(NYSE, NYSEAM, NASDAQ), headquartered in the Midwest region with total assets between $5 billion and $7 billion, but excluded targets
of announced merger transactions (the &#8220;First Mid Peer Group&#8221;). The First Mid Peer Group consisted of the following companies:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 46%">Byline Bancorp Inc.</TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 43%">Lakeland Financial Corp.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Community Trust Bancorp Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Midland States Bancorp Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">CrossFirst Bancorp Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">MidWestOne Financial Group Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">German American Bancorp.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Peoples Bancorp Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Great Southern Bancorp Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">QCR Holdings Inc.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Horizon Bancorp Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Republic Bancorp Inc.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The analysis compared publicly available financial
information for First Mid with corresponding data for the First Mid Peer Group as of or for the LTM ended March 31, 2021 (unless otherwise
noted) with pricing data as of July 26, 2021. The table below sets forth the data for First Mid and the median, mean, low and high data
for the First Mid Peer Group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>First Mid Comparable Company Analysis </U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">First Mid</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">First Mid</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">First Mid</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">First Mid</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Peer Group</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Peer Group</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Peer Group</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; font-weight: bold; text-align: right">Peer Group</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">First Mid</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Median</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Mean</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">Low</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-weight: bold; text-align: right">High</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left">Total assets ($mm)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,791</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,777</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,864</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,068</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">6,750</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Loans/Deposits<SUP>1</SUP> (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80.1</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">82.9</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">83.7</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97.3</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Non-performing assets<SUP>2 3</SUP>/Total assets (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.78</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.60</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.72</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.23</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.79</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Tangible common equity/Tangible assets (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.41</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.56</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.80</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.12</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.71</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Tier 1 Leverage Ratio (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.74</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.70</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.43</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.87</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.73</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total RBC Ratio (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13.75</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.04</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.38</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.75</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.15</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">CRE/Total RBC (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">207.87</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">172.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">189.4</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97.3</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">369.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">LTM Return on average assets (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.85</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.30</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.17</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.65</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.62</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">LTM Return on average equity (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.00</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.65</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.17</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.90</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14.61</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">LTM Net interest margin (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.20</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.32</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.36</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.05</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.91</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">LTM Efficiency Ratio (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57.54</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54.64</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54.90</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45.70</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">64.29</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Price/Tangible book value (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">129</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">141</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">105</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">222</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Price/LTM Earnings per share (x)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.3</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.4</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.8</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.2</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Price/2021 Estimated Earnings per share (x)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.2</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.8</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.7</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.7</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Price/2022 Estimated Earnings per share (x)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.2</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.3</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.9</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current Dividend Yield (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.1</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Market value ($mm)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">710</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">720</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">794</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">469</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,490</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">1</FONT></TD><TD><FONT STYLE="font-size: 9pt">Bank-level, regulatory financial data
                                            as of or for the period ended March 31, 2021 for QCR Holdings Inc.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">2</FONT></TD><TD><FONT STYLE="font-size: 9pt">Non-performing assets defined as nonaccrual
                                            loans and leases, renegotiated loans and leases, and real estate owned</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">3</FONT></TD><TD><FONT STYLE="font-size: 9pt">Bank-level, regulatory financial data
                                            as of or for the period ended March 31, 2021 for Midland States Bancorp Inc., QCR Holdings
                                            Inc., MidWestOne Financial Group Inc., Great Southern Bancorp Inc., CrossFirst Bankshares
                                            Inc., Peoples Bancorp Inc.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="font-size: 9pt">Note: Consolidated
financial data as of or for the period ended March 31, 2021 unless otherwise noted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="font-size: 9pt">Note: Consolidated
financial data as of or for the period ended June 30, 2021 for Midland States Bancorp Inc., Lakeland Financial Corp., QCR Holdings Inc.,
MidWestOne Financial Group Inc., Great Southern Bancorp Inc., Community Trust Bancorp Inc., CrossFirst Bankshares Inc., Peoples Bancorp
Inc. unless otherwise noted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><FONT STYLE="font-size: 9pt">Note: First
Mid Bancshares consolidated financial date as of or for the period ended June 30, 2021, except for NPAs/Assets, Tier 1 Leverage Ratio,
Total RBC Ratio, CRE/Total RBC Ratio, ROAA, ROAE, NIM, Efficiency Ratio, which reflect bank-level regulatory financial data as of or
for the period ended March 31, 2021</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Analysis of Precedent Transactions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler reviewed a regional group of merger
and acquisition transactions. The group consisted of regional bank and thrift transactions announced between January 1, 2020 and July
26, 2021 with targets headquartered in the Midwest or Mid-Atlantic regions with total assets between $300 million and $1.0 billion at
announcement, but excluded transactions with non-disclosed deal values (the &#8220;Regional Precedent Transactions&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Regional Precedent Transactions group was composed of the following
transactions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="3" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 46%; border-bottom: Black 1pt solid; text-align: justify; text-indent: 5.05pt">Acquiror</TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 43%; border-bottom: Black 1pt solid; text-align: justify">Target</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Farmers National Banc Corp.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">Cortland Bancorp</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Equity Bancshares, Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">American State Bancshares Inc.</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Farmers &amp; Merchants Bancorp, Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">Perpetual Federal Savings Bank</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Shore Bancshares, Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">Severn Bancorp Inc.</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Fidelity D &amp; D Bancorp, Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">Landmark Bancorp Inc.</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">LINKBANCORP, Inc.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">GNB Financial Services Inc.</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Hanover Bancorp Inc. </TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">Savoy Bank</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Broadway Financial Corporation</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">CFBanc Corp.</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">BV Financial, Inc. (MHC)</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">Delmarva Bancshares Inc.</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">Norwood Financial Corp.</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">UpState New York Bancorp Inc. </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Using the latest publicly available information
prior to the announcement of the relevant transaction, Piper Sandler reviewed the following transaction metrics: deal value, transaction
price to last-twelve-months earnings per share, transaction price to tangible book value per share, core deposit premium, and 1-day market
premium. Piper Sandler compared the indicated transaction metrics for the transaction to the median, mean, low and high metrics of the
Regional Precedent Transactions group.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="white-space: nowrap; text-align: center; border-bottom: Black 1pt solid">Regional Precedent Transactions</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">First Mid/ <BR>Delta</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Median</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Mean</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Low</TD><TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">High</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%">Deal Value ($M)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">105</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">69.9</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">79.4</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">39.6</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">146.0</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Transaction Price / LTM Earnings<BR> &nbsp;Per Share (x)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15.61</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.4</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.6</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32.8</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Transaction Price / Tangible Book Value Per Share (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">138</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">132</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">133</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">110</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">178</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Tangible Book Value Premium<BR> &nbsp;to Core Deposits (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.6</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.6</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19.0</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">1-Day Market Premium (%)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39.1</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39.5</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.1</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">63.9</TD><TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 9pt">1</FONT></TD><TD><FONT STYLE="font-size: 9pt">Consolidated LTM Net Income of $1.8M
                                            adjusted for LTM realized gains on securities of $106K and $6.3M provision expense related
                                            to specifically identified credits, adjustments tax-effected at 21%</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9pt; text-indent: -9pt; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Net Present Value Analyses.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler performed an analysis that estimated
the net present value of a share of Delta common stock assuming Delta performed in accordance with certain internal financial projections
for Delta for the year ending December 31, 2021 with estimated annual long-term balance sheet and net income growth rates and estimated
dividends per share for Delta for the years ending December 31, 2022 through December 31, 2025, as provided by the senior management of
Delta. To approximate the terminal value of a share of Delta common stock at December 31, 2025, Piper Sandler applied price to 2025 earnings
multiples ranging from 9.0x to 14.0x and multiples of December 31, 2025 tangible book value ranging from 90% to 140%. The terminal values
were then discounted to present values using different discount rates ranging from 10.0% to 14.0%, which were chosen to reflect different
assumptions regarding required rates of return of holders or prospective buyers of Delta common stock. As illustrated in the following
tables, the analysis indicated an imputed range of values per share of Delta common stock of $1,266 to $2,104 when applying multiples
of earnings and $1,400 to $2,350 when applying multiples of tangible book value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Earnings Per Share Multiples</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 16%; text-align: center">Discount</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><U>Rate</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>9.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>10.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>11.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>12.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>13.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>14.0x</U></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">10.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,466</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,594</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,722</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,849</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,977</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,104</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center">11.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,413</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,535</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,658</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,780</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,903</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,025</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">12.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,361</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,479</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,597</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,714</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,832</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,950</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center">13.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,312</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,425</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,538</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,652</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,765</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,878</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">14.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,266</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,374</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,438</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,592</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,700</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,809</TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Tangible Book Value Per Share Multiples</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 16%; text-align: center">Discount</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><U>Rate</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>90%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>100%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>110%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>120%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>130%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>140%</U></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">10.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,625</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,770</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,915</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,060</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,205</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,350</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center">11.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,564</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,704</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,843</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,982</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,122</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,261</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">12.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,507</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,641</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,775</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,909</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,042</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,176</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center">13.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,453</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,581</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,710</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,838</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,967</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,095</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">14.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,400</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,524</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,648</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,771</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,895</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,018</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler also considered and discussed with
the Delta&#8217;s board of directors how this analysis would be affected by changes in the underlying assumptions, including variations
with respect to earnings. To illustrate this impact, Piper Sandler performed a similar analysis, assuming Delta&#8217;s earnings varied
from 20% above projections to 20% below projections. This analysis resulted in the following range of per share values for Delta&#8217;s
common stock, applying the price to 2025 earnings multiples range of 9.0x to 14.0x referred to above and a discount rate of 12.90%.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Earnings Per Share Multiples</U></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 14%; text-align: right"><U>Annual Estimate</U></TD>
    <TD STYLE="white-space: nowrap; width: 12%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 17%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right"><U>Variance</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>9.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>10.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>11.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>12.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>13.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>14.0x</U></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: right">(20.0%)</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,113</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,204</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,294</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,385</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,476</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,567</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: right">(10.0%)</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,215</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,317</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,419</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,521</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,624</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,726</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: right">0.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,317</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,431</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,544</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,658</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,771</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,885</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: right">10.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,419</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,544</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,669</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,794</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,919</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,044</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: right">20.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,521</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,658</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,794</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$1,930</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,066</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$2,202</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler also performed an analysis that estimated
the net present value of a share of First Mid common stock, assuming First Mid performed in accordance with publicly available median
analyst earnings per share estimates for First Mid for the six months ending December 31, 2021 and the year ending December 31, 2022,
as well as estimated annual long-term balance sheet and net income growth rates for First Mid for the years ending December 31, 2023 through
December 31, 2025 and estimated dividends per share for First Mid for the years ending December 31, 2021 through December 31, 2025, as
provided by First Mid&#8217;s representatives. To approximate the terminal value of a share of First Mid common stock at December 31,
2025, Piper Sandler applied price to 2025 earnings multiples ranging from 10.0x to 15.0x and multiples of December 31, 2025 tangible book
value ranging from 110% to 160%. The terminal values were then discounted to present values using different discount rates ranging from
9.0% to 13.0%, which were chosen to reflect different assumptions regarding required rates of return of holders or prospective buyers
of First Mid common stock. As illustrated in the following tables, the analysis indicated an imputed range of values per share of First
Mid common stock of $25.99 to $44.06 when applying multiples of earnings and $28.50 to $47.11 when applying multiples of tangible book
value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Earnings Per Share Multiples</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 16%; text-align: center">Discount</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><U>Rate</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>10.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>11.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>12.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>13.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>14.0x</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>15.0x</U></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">9.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$30.35</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$33.10</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$35.84</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$38.58</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$41.32</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$44.06</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center">10.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$29.18</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$31.81</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$34.45</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$37.08</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$39.71</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$42.34</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">11.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$28.07</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$30.59</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$33.12</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$35.65</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$38.17</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$40.70</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center">12.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$27.00</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$29.43</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$31.86</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$34.28</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$36.71</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$39.14</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">13.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$25.99</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$28.32</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$30.65</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$32.99</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$35.32</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$37.65</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Tangible Book Value Per Share Multiples</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; width: 16%; text-align: center">Discount</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 14%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: center"><U>Rate</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>110%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>120%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>130%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>140%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>150%</U></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; text-align: right"><U>160%</U></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">9.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$33.31</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$36.07</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$38.83</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$41.59</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$44.35</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$47.11</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center">10.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$32.02</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$34.67</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$37.32</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$39.97</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$42.61</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$45.26</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">11.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$30.79</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$33.33</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$35.88</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$38.42</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$40.96</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$43.51</TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center">12.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$29.62</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$32.06</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$34.50</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$36.95</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$39.39</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$41.83</TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: center">13.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$28.50</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$30.85</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$33.20</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$35.55</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$37.89</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$40.24</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler also considered and discussed with
the Delta&#8217;s board of directors how this analysis would be affected by changes in the underlying assumptions, including variations
with respect to earnings. To illustrate this impact, Piper Sandler performed a similar analysis assuming First Mid&#8217;s earnings varied
from 20% above estimates to 20% below estimates. This analysis resulted in the following range of per share values for First Mid common
stock, applying the price to 2025 earnings multiples range of 10.0x to 15.0x referred to above and a discount rate of 11.16%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Earnings Per Share Multiples</U></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; width: 14%; text-align: right"><U>Annual Estimate</U></TD>
    <TD STYLE="white-space: nowrap; width: 12%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 13%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 19%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 15%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 14%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right"><U>Variance</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>10.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>11.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>12.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>13.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>14.0x</U></TD>
    <TD STYLE="white-space: nowrap; text-align: right"><U>15.0x</U></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: right">(20.0%)</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$22.87</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$24.88</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$26.89</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$28.90</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$30.90</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$32.91</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: right">(10.0%)</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$25.38</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$27.64</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$29.90</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$32.16</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$34.42</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$36.68</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: right">0.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$27.89</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$30.40</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$32.91</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$35.42</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$37.93</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$40.44</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: right">10.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$30.40</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$33.16</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$35.93</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$38.69</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$41.45</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$44.21</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; text-align: right">20.0%</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$32.91</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$35.93</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$38.94</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$41.95</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$44.96</TD>
    <TD STYLE="white-space: nowrap; text-align: right">$47.98</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler noted that the net present value
analysis is a widely used valuation methodology, but the results of such methodology are highly dependent upon the numerous assumptions
that must be made, and the results thereof are not necessarily indicative of actual values or future results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Pro Forma Transaction Analysis.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler analyzed certain potential pro forma
effects of the merger on First Mid assuming the transaction closes on December 31, 2021. Piper Sandler utilized the following information
and assumptions: (a) estimated net income for Delta for the years ending December 31, 2022 through December 31, 2023 with estimated annual
long-term net income growth rates for Delta for the years ending December 31, 2023 through December 31, 2025, as provided by First Mid&#8217;s
representatives, (b)&nbsp;publicly available median analyst earnings per share estimates for First Mid for the six months ending December
31, 2021 and the year ending December 31, 2022, as well as estimated annual long-term balance sheet and net income growth rates for First
Mid for the years ending December 31, 2023 through December 31, 2025 and estimated dividends per share for First Mid for the years ending
December 31, 2021 through December 31, 2025, as provided by First Mid&#8217;s representatives, and (c) certain assumptions relating to
transaction expenses, cost savings and purchase accounting adjustments, as provided by First Mid&#8217;s representatives. The analysis
indicated that the transaction could be accretive to First Mid&#8217;s estimated earnings per share (excluding one-time transaction costs
and expenses) in the years ending December 31, 2022 through December 31, 2025 and dilutive to First Mid&#8217;s estimated tangible book
value per share at close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with this analysis, Piper Sandler
considered and discussed with Delta&#8217;s board of directors how the analysis would be affected by changes in the underlying assumptions,
including the impact of final purchase accounting adjustments determined at the closing of the transaction, and noted that the actual
results achieved by the combined company may vary from projected results and the variations may be material.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Piper Sandler&#8217;s Relationship. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler is acting as Delta&#8217;s financial
advisor in connection with the transaction and will receive an advisory fee for such services in an amount equal to $500,000, which fee
is contingent upon the closing of the merger. Piper Sandler also received a $150,000 fee from Delta upon rendering its opinion, which
opinion fee will be credited in full towards the advisory fee which will become payable to Piper Sandler upon closing of the transaction.
Delta has also agreed to indemnify Piper Sandler against certain claims and liabilities arising out of Piper Sandler&#8217;s engagement
and to reimburse Piper Sandler for certain of its out-of-pocket expenses incurred in connection with Piper Sandler&#8217;s engagement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Piper Sandler did not provide any other investment
banking services to Delta in the two years preceding the date of Piper Sandler&#8217;s opinion. Piper Sandler provided certain investment
banking services to First Mid in the two years preceding the date of its opinion. In summary, Piper Sandler acted as (i) financial advisor
to First Mid in connection with First Mid&#8217;s acquisition of LINCO Bancshares, Inc., which transaction closed in February 2021 and
for which Piper Sandler received a fee of approximately $1.1 million, and (ii) book manager in connection with First Mid&#8217;s offer
and sale of subordinated debt, which transaction closed in October 2020 and for which Piper Sandler received a fee of approximately $1
million. In addition, in the ordinary course of Piper Sandler&#8217;s business as a broker-dealer, Piper Sandler may purchase securities
from and sell securities to Delta, First Mid and their respective affiliates. Piper Sandler may also actively trade the equity and debt
securities of First Mid and its affiliates for Piper Sandler&#8217;s account and for the accounts of Piper Sandler&#8217;s customers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_044"></A>First Mid&#8217;s reasons for the merger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid&#8217;s board of directors believes that
the merger is in the best interests of First Mid and its stockholders. In deciding to approve the agreement and the transactions contemplated
therein, including the issuance of First Mid common stock in connection with the merger, First Mid&#8217;s board of directors after consulting
with its management as well as its legal and financial advisors, considered a number of factors, including the following, which are not
presented in order of priority:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">its </FONT>knowledge of First Mid&#8217;s business, operations, financial
condition, earnings and prospects and of Delta&#8217;s business, operations, financial condition, earnings and prospects, taking into
account the results of First Mid&#8217;s comprehensive due diligence process and loan review of Delta;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the opportunity for First Mid to deepen its presence in the growing St. Louis market;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>management&#8217;s view that Delta&#8217;s business, operations and commitment to community banking complement those of First Mid&#8217;s
and provide an opportunity to leverage existing operations for greater efficiencies and cost-savings and enhanced earnings per share;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>management&#8217;s belief that the combined institution will strengthen First Mid&#8217;s ability to serve large customers and provide
opportunities for loan growth;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the likelihood of a successful integration of Delta&#8217;s business operations and workforce with those of First Mid and management&#8217;s
view that the integration will be facilitated by the similarities between the cultures and business philosophies of First Mid and Delta;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>management&#8217;s expectations regarding cost synergies, earnings accretion and internal rate of return;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the financial and other terms of the merger agreement, including the tax treatment, the split between stock and cash consideration
and termination fee provisions, which it reviewed with its outside financial and legal advisors;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the potential risks associated with achieving anticipated cost synergies and savings and successfully integrating Delta&#8217;s business,
operations and workforce with those of First Mid;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the potential risk of diverting management attention and resources from the operation of First Mid&#8217;s business and towards the
completion of the merger<FONT STYLE="font-family: Times New Roman, Times, Serif">; and </FONT></TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the regulatory and other approvals required in connection with the merger and the expectation that such regulatory approvals will
be received in a timely manner and without the imposition of unacceptable conditions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The above discussion of the information and factors
considered by First Mid&#8217;s board of directors is not intended to be exhaustive, but includes a description of material factors considered
by the First Mid board of directors. In view of the wide variety of factors considered by the First Mid board of directors in connection
with its evaluation of the merger, the First Mid board of directors did not consider it practical to, nor did it attempt to, quantify,
rank or otherwise assign relative weights to the specific factors that it considered. In considering the factors described above, individual
directors may have given differing weights to different factors. First Mid&#8217;s board of directors unanimously made its determination
with respect to the merger based on the conclusion reached by its members based on the factors that each of them considered appropriate,
that the merger is in the best interests of First Mid&#8217;s stockholders.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_045"></A>Accounting treatment of the merger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For accounting and financial reporting purposes,
the merger will be accounted for under the acquisition method of accounting for business combinations in accordance with GAAP. Under the
acquisition method of accounting, the assets (including identifiable intangible assets) and liabilities (including executory contracts
and other commitments) of Delta as of the effective time of the merger will be recorded at their respective fair values and added to those
of First Mid. Any excess of purchase price over the fair values is recorded as goodwill. Consolidated financial statements of First Mid
issued after the merger will reflect these fair values and will not be restated retroactively to reflect the historical consolidated financial
position or results of operations of Delta.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_046"></A>Regulatory approvals</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger cannot proceed without obtaining all
requisite regulatory approvals. First Mid and Delta have agreed to take all appropriate actions necessary to obtain the required approvals.
The merger of First Mid and Delta is subject to prior approval of the Federal Reserve and the Missouri Division of Finance (the &#8220;MO
DOF&#8221;). First Mid submitted applications with the Federal Reserve and the MO DOF on September 3, 2021, seeking the necessary approvals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In reviewing that application, the Federal Reserve
is required to consider the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>competitive factors, such as whether the merger will result in a monopoly or whether the benefits of the merger to the public in meeting
the needs and convenience of the community clearly outweigh the merger&#8217;s anticompetitive effects or restraints on trade;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>banking and community factors, which includes an evaluation of:</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the financial and managerial resources of First Mid, including its subsidiaries, and of Delta, and the effect of the proposed transaction
on these resources;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>management expertise;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>internal control and risk management systems;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the capital of Delta;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the convenience and needs of the communities to be served; and</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the effectiveness of Delta and First Mid in combating money laundering activities.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The application process includes publication and
opportunity for comment by the public. The Federal Reserve may receive, and must consider, properly filed comments and protests from community
groups and others regarding (among other issues) each institution&#8217;s performance under the Community Reinvestment Act of 1977, as
amended (which we refer to as the &#8220;Community Reinvestment Act&#8221;). The merger may not be consummated until at least 15&nbsp;days
after receipt of Federal Reserve approval, during which time the United States Department of Justice may challenge the merger on antitrust
grounds. The commencement of an antitrust action would stay the effectiveness of the Federal Reserve&#8217;s approval, unless a court
specifically orders otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At a date following the completion of the merger,
First Mid intends to merge Jefferson Bank with and into First Mid Bank, with First Mid Bank as the surviving bank. The bank merger will
be subject to approval by the OCC. First Mid Bank intends to file an application with the OCC seeking approval in the near future. Regulatory
approval of the bank merger is not required to complete the merger of First Mid and Delta.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">While First Mid knows of no reason why the approval
of any of the applications would be denied or unduly delayed, it cannot assure you that all regulatory approvals required to consummate
the merger and the bank merger will be obtained or obtained in a timely manner.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_047"></A>Interests of certain persons in the merger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><I>General</I>. In considering
the recommendations of the Delta board of directors, Delta stockholders should be aware that certain directors and executive officers
of Delta and Jefferson Bank may have interests in the merger that are different from, or are in addition to, the interests of Delta stockholders
generally. The Delta board of directors was aware of these interests to the extent these interests existed at the time the Delta board
of directors approved the merger agreement and considered them, among other matters, in approving the merger agreement and determining
to recommend to Delta stockholders to vote for approval of the merger agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><I>Stock Ownership</I>.
As of September 10, 2021, Delta&#8217;s directors controlled, in the aggregate, 24,492.62 shares of Delta&#8217;s common stock, representing
approximately 59% of Delta&#8217;s outstanding shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; text-indent: 0.5in"><I>Stock Options</I>.
The directors and executive officers of Delta hold outstanding stock options to purchase shares of Delta common stock that were granted
to them by Delta under its stock option plans. At the effective time of the merger, all of Delta&#8217;s outstanding stock options will
be fully vested and all outstanding Delta stock options that are unexercised prior to the effective time of the merger will be automatically
cancelled and the holder of such Delta stock option (including the directors and executive officers of Delta) will receive a cash payment
(without interest) equal to the product of (a) the excess, if any, of (i) $352.26, <I>plus</I> (ii) the Closing First Mid Common Stock
Price multiplied by the Stock Consideration that would otherwise be payable for each share of Delta common stock issuable had each such
option been exercised immediately prior to the closing of the merger, <I>minus</I> (iii) the exercise price per share of such Delta stock
option, and (b) the number of shares of Delta common stock issuable upon exercise of such Delta stock option (we refer to this amount
as the &#8220;option consideration&#8221;). &#8220;Closing First Mid Common Stock Price&#8221; means the weighted average of the daily
closing sales prices of a share of First Mid common stock as reported on the Nasdaq Global Select Market for the ten consecutive trading
days immediately preceding the closing date. As of the effective time of the merger, all Delta stock options, whether or not vested or
exercisable, will no longer be outstanding and shall automatically cease to exist, and the holder of Delta stock options will cease to
have any rights with respect to such Delta stock option, except the right to receive the option consideration; provided that, if the exercise
price of such Delta stock option is equal to or greater than the aggregate of clauses (a)(i) and (a)(ii) above, such Delta stock option
shall be cancelled without any payment of option consideration being made. The option consideration will be paid in cash.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The option cash
amounts estimated to be received by the directors and executive officers of Delta, as of September 29, 2021, the latest practicable
date before the printing of this proxy statement/prospectus, are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 30%"><U>Director/Executive</U></TD>
    <TD STYLE="width: 30%"><U>Number of Stock Options</U></TD>
    <TD STYLE="width: 30%; text-align: left"><U>Amount</U></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>John Dulle</TD>
    <TD STYLE="text-indent: 0.65pt">54</TD>
    <TD STYLE="text-indent: 0.65pt">$55,915</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Bradley Locke</TD>
    <TD STYLE="text-indent: 0.65pt">87</TD>
    <TD STYLE="text-indent: 0.65pt">$90,086</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Marilyn Oberkramer</TD>
    <TD STYLE="text-indent: 0.65pt">85</TD>
    <TD STYLE="text-indent: 0.65pt">$88,015</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><I>Continued Director
and Officer Liability Coverage</I>. Pursuant to the terms of the merger agreement, First Mid agreed to maintain, for up to six years following
the effective time, insurance coverage under the current policy of directors&#8217; and officers&#8217; liability insurance maintained
by Delta for actions taken prior to the effective time of the merger. The cost of such insurance coverage shall not exceed 250% of the
premiums Delta paid for its current policy term. Following the effective time, to the extent permitted by applicable law, First Mid has
agreed to indemnify and hold harmless the current and former directors, officers and employees of Delta and its subsidiaries for all actions
taken by them prior to the effective time of the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><I>Death Benefit Agreements</I>.
Delta maintains bank owned life insurance (BOLI) death benefit agreements for 17 current employees. These agreements allow the employees
to designate a beneficiary to receive a death benefit if the employee dies during employment. Upon a termination without cause following
the merger, if the policies are continued, the death benefit agreements will permit the employees to continue to be eligible for the death
benefit following termination of employment. The death benefits are $50,000 for seven employees, $55,000 for eight employees, and $250,000
for two employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><I>Post-Merger Compensation
Arrangements with First Mid</I>. Since execution of the merger agreement, First Mid has engaged, and it expects to continue to engage,
in discussions with certain of Delta executive officers regarding potential roles with the combined company after the consummation of
the merger. As of the date of this proxy statement/prospectus, none of the executive officers and directors of Delta have entered into
agreements or arrangements with First Mid or its affiliates regarding continued service with First Mid, or its affiliates after the effective
time of the merger. However, prior to the effective time of the merger, such agreements or arrangements may be entered into, which could
amend, terminate or otherwise modify the existing Delta arrangements with the executive officers that are described in this section and/or
provide for the payment (or the right to future payment) of all or a portion of the benefits provided under such arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white"><I>Severance Plan.</I>
The merger agreement provides that employees of Delta and Jefferson Bank who incurs an involuntary termination of employment within 12
months after the closing date of the merger will be eligible to receive severance equal to one week of base salary for each year of service,
with a maximum payout of 26 weeks of base salary.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_048"></A>Restrictions on resale of First Mid common stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The shares of First Mid common stock to be issued
in connection with the merger will be registered under the Securities Act, and will be freely transferable, except for shares issued to
any stockholder who may be deemed to be an &#8220;affiliate&#8221; of First Mid for purposes of Rule&nbsp;144 under the Securities Act.
Persons who may be deemed to be affiliates of First Mid include individuals or entities that control, are controlled by, or are under
common control with First Mid and may include the executive officers, directors and significant stockholders of First Mid.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_049"></A>Delta stockholder dissenters&#8217; rights</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>General</I>. Dissenters&#8217; rights with respect to Delta common
stock are governed by Section 351.455 of the GBCLM. Delta shareholders have the right to dissent from the merger and to obtain payment
of the &#8220;fair value&#8221; of their shares in cash (as specified in the statute) in the event the merger is consummated. Strict compliance
with the dissent procedures is required to exercise and perfect dissenters&#8217; rights under the GBCLM. Subject to the terms of the
merger agreement, the Delta board of directors could elect to terminate the Delta merger agreement even if it is approved by Delta shareholders,
thus cancelling dissenters&#8217; rights.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta urges any Delta shareholder who contemplates exercising his or
her right to dissent to read carefully the provisions of Section 351.455 of the GBCLM, which is attached to this proxy statement/prospectus
as Appendix B. A more detailed discussion of the provisions of the statute is included below. The discussion describes the steps that
each holder of Delta common stock must take to exercise his or her right to dissent. Each Delta shareholder who wishes to dissent should
read both the summary and the full text of the law. Delta cannot give any Delta shareholder legal advice. To completely understand this
law, each Delta shareholder may want, and Delta encourages any Delta shareholder seeking to dissent, to consult with his or her legal
advisor. Any Delta shareholder who wishes to dissent should not send in a signed proxy unless he or she marks his or her proxy to vote
against the Delta merger or such shareholder will lose the right to dissent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Address for Notices</I>. Send or deliver any written notice or demand
concerning any Delta shareholder&#8217;s exercise of his or her dissenters&#8217; rights to Delta Bancshares Company, 2301 Market Street,
St. Louis, Missouri 63103, Attention: Marilyn J. Oberkramer, Corporate Secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Act Carefully</I>. Delta urges any Delta shareholder who wishes
to dissent to act carefully. Delta cannot and does not accept the risk of late or undelivered notices or demands. A dissenting Delta shareholder
may call Marilyn J. Oberkramer, Corporate Secretary of Delta at (314) 621-0100 ext. 1551, to receive confirmation that his or her notice
or demand has been received. If his or her notices or demands are not timely received by Delta, then such shareholder will not be entitled
to exercise his or her dissenters&#8217; rights. Delta shareholders bear the risk of non-delivery and of untimely delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ANY DELTA SHAREHOLDER WHO WISHES TO EXERCISE DISSENTERS&#8217; RIGHTS
OR WHO WISHES TO PRESERVE HIS OR HER RIGHT TO DO SO SHOULD REVIEW APPENDIX B CAREFULLY AND CONSULT HIS OR HER LEGAL ADVISOR. FAILURE TO
TIMELY AND PROPERLY COMPLY WITH THE PROCEDURES SET FORTH THEREIN WILL RESULT IN THE LOSS OF SUCH RIGHTS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Summary of Section 351.455 of the GBCLM&#8201;-&#8201;Dissenters&#8217;
Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Section 351.455 of GBCLM, Delta shareholders who do not vote
in favor of the merger agreement proposal and who follow the procedures summarized below will have the right to dissent from and, upon
surrender of their certificate (if any) representing said shares, obtain payment in cash of the fair value of their shares of Delta common
stock, as of the day prior to the date of the Delta special meeting, in the event of the consummation of the merger. No Delta shareholder
dissenting from the merger will be entitled to the per share merger consideration or any dividends or other distributions unless and until
the holder fails to perfect or effectively withdraws or loses his or her right to dissent from the merger agreement. If you are contemplating
exercising your right to dissent, we urge you to read carefully the provisions of Section 351.455 of the GBCLM, which are attached to
this proxy statement/prospectus as Appendix B, and consult with your legal counsel before exercising or attempting to exercise these rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A Delta shareholder may assert dissenters&#8217; rights only by complying
with all of the following requirements:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Delta
shareholder must own Delta common stock as of the close of business on September 28, 2021, the Delta record date for the Delta
special meeting at which the merger proposal is submitted to a vote;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Delta shareholder
must deliver to Delta prior to or at the Delta special meeting a written objection to the merger agreement. The written objection should
be delivered or mailed in time to arrive before the vote is taken on the merger proposal at the Delta special meeting to Delta Bancshares
Company, 2301 Market Street, St. Louis, Missouri 63103, Attention: Marilyn J. Oberkramer, Corporate Secretary. The written objection must
be made in addition to, and separate from, any proxy or other vote against approval of the merger proposal. Neither a vote against, a
failure to vote for, nor an abstention from voting will satisfy the requirement that a written objection be delivered to Delta before
the vote on the merger proposal is taken. Unless a Delta shareholder files the written objection as provided above, he or she will not
have any dissenters&#8217; rights of appraisal.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Delta shareholder
must not vote in favor of approval of the merger proposal. The return of a signed proxy which does not specify a vote against the merger
proposal or a direction to abstain will constitute a waiver of the shareholder&#8217;s right to dissent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Delta shareholder
must deliver to First Mid within 20 days after the effective time a written demand for payment of the fair value of his or her shares
of Delta common stock as of the day prior to the date on which the vote for the merger proposal was taken. That demand must include a
statement of the number of shares of Delta common stock owned. The demand must be mailed or delivered to First Mid Bancshares, Inc., 1421
Charleston Avenue, Mattoon, Illinois 61938, Attn: Aaron Holt. Any Delta shareholder who fails to make a written demand for payment within
the 20-day period after the effective time will be conclusively presumed to have consented to the merger agreement and will be bound by
the terms thereof. Neither a vote against the merger proposal nor the written objection referred to in clause (1) above satisfies the
written demand requirement referred to in this clause (4).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If within 30 days of the effective time the value of a dissenting shareholder&#8217;s
shares of Delta common stock is agreed upon between the Delta shareholder and First Mid, First Mid will make payment to the shareholder
within 90 days of the effective time, upon the shareholder&#8217;s surrender of his or her Delta common stock certificates. Upon payment
of the agreed value, the dissenting shareholder will cease to have any interest in such shares or in First Mid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If the dissenting shareholder and First Mid do not agree on the fair
value of the shares within 30 days after the effective time, the dissenting shareholder may, within 60 days after the expiration of the
30 days, file a petition in any court of competent jurisdiction within Kent County, Delaware, asking for a finding and a determination
of the fair value of the shares. The dissenting shareholder is entitled to judgment against First Mid for the amount of the fair value
as of the day prior to the date on which such vote was taken approving the merger proposal, together with interest thereon to the date
of judgment. The judgment is payable only upon and simultaneously with the surrender to First Mid of the Delta common stock certificates
representing said shares. Upon payment of the judgment, the dissenting shareholder shall cease to have any interest in such shares or
in First Mid. Unless the dissenting shareholder files a petition within the allotted time frame, the shareholder and all persons claiming
under the shareholder will be conclusively presumed to have adopted and ratified the merger agreement and will be bound by the terms thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The right of a dissenting shareholder to be paid the fair value for
his or her shares will cease if the shareholder fails to comply with the procedures of Section 351.455 or if the merger agreement is terminated
for any reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE PRECEDING SUMMARY IS QUALIFIED IN ITS ENTIRETY BY THE TEXT OF
THE APPRAISAL PROVISIONS OF GBCLM SECTION 351.455. A COPY OF THAT STATUTE IS ATTACHED HERETO AS APPENDIX B AND IS INCORPORATED HEREIN
BY REFERENCE. TO THE EXTENT THERE ARE ANY INCONSISTENCIES BETWEEN THE FOREGOING SUMMARY AND THE APPLICABLE PROVISIONS OF THE GBCLM, THE
GBCLM WILL CONTROL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="a_050"></A>MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES
OF THE MERGER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following summary describes the material U.S.
federal income tax consequences of the merger to U.S. holders (as defined below) of Delta common stock. The summary is based upon the
Internal Revenue Code, applicable U.S. Treasury regulations, judicial decisions and administrative rulings and practice, all as in effect
as of the date hereof, and all of which are subject to change, possibly with retroactive effect. This summary does not address any tax
consequences of the merger under state, local or foreign laws, or any federal laws other than those pertaining to income tax.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For purposes of this discussion, the term &#8220;U.S.
holder&#8221; means a beneficial owner that is: an individual citizen or resident of the United States; a corporation (or other entity
taxable as a corporation for U.S. federal income tax purposes) created or organized under the laws of the United States or any of its
political subdivisions; a trust that (1)&nbsp;is subject to the supervision of a court within the United States and the control of one
or more U.S. persons or (2)&nbsp;has a valid election in effect under applicable U.S. Treasury regulations to be treated as a U.S. person;
or an estate that is subject to U.S. federal income taxation on its income regardless of its source.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This discussion addresses only those U.S. holders
of Delta common stock that hold their Delta common stock as a capital asset within the meaning of Section&nbsp;1221 of the Internal Revenue
Code and does not address all the U.S. federal income tax consequences that may be relevant to particular holders of Delta common stock
in light of their individual circumstances or to holders of Delta common stock that are subject to special rules, such as non-U.S. holders
(as defined below) (except to the extent discussed under the subheading &#8220;Tax Implications to Non-U.S. Stockholders&#8221; below);
financial institutions; qualified insurance plans; qualified retirement plans and individual retirement accounts; investors in pass-through
entities; persons who are subject to alternative minimum tax; insurance companies; mutual funds; tax-exempt organizations; dealers or
brokers in securities or currencies; traders in securities that elect to use a mark-to-market method of accounting; persons that hold
Delta common stock as part of a straddle, hedge, constructive sale or conversion or other integrated transaction; regulated investment
companies; real estate investment trusts; persons whose &#8220;functional currency&#8221; is not the U.S. dollar; U.S. expatriates or
certain former citizens or long-term residents of the United States; and holders who acquired their shares of Delta common stock through
the exercise of an employee stock option or otherwise as compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If a partnership (or other entity that is taxed
as a partnership for federal income tax purposes) holds Delta common stock, the tax treatment of a partner in that partnership generally
will depend upon the status of the partner, the activities of the partnership and certain determinations made at the partner level. Partnerships
and partners in partnerships should consult their own tax advisors about the tax consequences of the merger to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The parties intend for the merger to be treated
as a &#8220;reorganization&#8221; for U.S. federal income tax purposes. Each of Armstrong Teasdale LLP and Schiff Hardin LLP have delivered
opinions, dated September 17, 2021, and filed as exhibits to the registration statement of which this proxy statement/prospectus is a part, to
the effect that, subject to the exceptions, qualifications and limitations set forth therein, (i)&nbsp;the merger will constitute a &#8220;reorganization&#8221;
within the meaning of Section&nbsp;368(a) of the Internal Revenue Code, and (ii)&nbsp;Delta and First Mid will each be a party to such
reorganization within the meaning of Section&nbsp;368(b) of the Internal Revenue Code. Additionally, it is a condition to Delta&#8217;s
obligation to complete the merger that Delta receive an opinion from Armstrong Teasdale LLP, dated the closing date of the merger, and
it is a condition to First Mid&#8217;s obligation to complete the merger that First Mid receive an opinion from Schiff Hardin LLP, dated
the closing date of the merger, each to the same effect as the opinions described in the preceding sentence. These conditions are waivable,
and First Mid and Delta undertake to recirculate and resolicit if either of these conditions is waived and the change in tax consequences
is material. These opinions are and will be based upon representation letters provided by First Mid and Delta and upon customary factual
assumptions. Neither First Mid nor Delta has sought, and neither of them will seek, any ruling from the Internal Revenue Service regarding
any matters relating to the merger, and the opinions described above will not be binding on the Internal Revenue Service or any court.
Consequently, there can be no assurance that the Internal Revenue Service will not assert, or that a court would not sustain, a position
contrary to any of the conclusions set forth below. In addition, if any of the representations or assumptions upon which the opinions
are based are inconsistent with the actual facts, the U.S. federal income tax consequences of the merger could be adversely affected.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The actual tax consequences of the merger to you
may be complex and will depend upon your specific situation and upon factors that are not within the control of First Mid or Delta. You
should consult with your own tax advisor as to the tax consequences of the merger in light of your particular circumstances, including
the applicability and effect of the alternative minimum tax and any state, local or foreign and other tax laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following discussion summarizes the material
U.S. federal income tax consequences of the merger to U.S. holders, assuming the merger qualifies as a reorganization within the meaning
of Section&nbsp;368(a) of the Internal Revenue Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Tax Consequences of the merger for U.S. holders
of Delta common stock.</I> Except as discussed below, a U.S. holder who exchanges its shares of Delta common stock for merger consideration
will recognize gain (but not loss) equal to the lesser of (i) the excess, if any, of the amount of cash <I>plus</I> the fair market value
of any First Mid common stock received in the merger, over such U.S. holder&#8217;s adjusted tax basis in the shares of Delta common stock
surrendered by such U.S. holder in the merger and (ii) the amount of cash received by such U.S. holder in the merger (other than cash
received in lieu of fractional shares of First Mid common stock).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For purposes of this calculation, the fair market
value of First Mid common stock is based on the trading price of that stock on the date of the merger, rather than the methodology used
in calculating the number of shares of First Mid common stock to be issued to the stockholder. In the case of any U.S. holder who acquired
different blocks of Delta common stock at different times and at different prices, any realized gain or loss will be determined separately
for each identifiable block of shares exchanged in the merger. A loss realized on the exchange of one block of shares cannot be used to
offset a gain realized on the exchange of another block of shares, but a U.S. holder will generally be able to reduce its capital gains
by capital losses in determining its income tax liability. Such U.S. holder should consult its tax advisor prior to the exchange with
regard to identifying the basis or holding periods of the particular shares of First Mid common stock received in the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Generally, a U.S. holder&#8217;s aggregate tax
basis in the First Mid common stock received by such U.S. holder in the merger in exchange for its Delta common stock, including any fractional
shares deemed received by the U.S. holder under the treatment discussed below in &#8220;&#8212;Cash in Lieu of Fractional Shares of First
Mid Common Stock,&#8221; will equal such U.S. holder&#8217;s aggregate tax basis in the Delta common stock surrendered in the merger,
increased by the amount of taxable gain or dividend income (see below), if any, recognized by such U.S. holder in the merger (other than
with respect to cash received in lieu of fractional shares of First Mid common stock), and decreased by the amount of cash, if any, received
by such U.S. holder in the merger (other than cash received in lieu of fractional shares of First Mid common stock). The holding period
for the shares of First Mid common stock received in the merger, including any fractional shares deemed received by the U.S. holder under
the treatment discussed below in &#8220;&#8212;Cash in Lieu of Fractional Shares of First Mid Common Stock,&#8221; generally will include
the holding period for the shares of Delta common stock exchanged therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any capital gain generally will be long-term capital
gain if the U.S. holder held the shares of Delta common stock for more than one year at the effective time of the merger. The deductibility
of capital losses is subject to limitations. It is possible that all or part of the gain that a U.S. holder of Delta common stock recognizes
could be treated as dividend income rather than capital gain. The gain recognized in the merger generally will be treated as capital gain,
and not a dividend, if the deemed redemption associated with payment of cash to a holder of Delta common stock results in a meaningful
reduction in such holder&#8217;s deemed percentage share ownership of First Mid relative to what its percentage ownership would have been
if it had received solely shares of First Mid common stock rather than a combination of cash and shares of First Mid common stock in the
merger. The Internal Revenue Service has ruled that a stockholder in a publicly held corporation whose relative stock interest is minimal
and who exercises no control with respect to corporate affairs is generally considered to have a meaningful reduction if that stockholder
has a relatively minor (e.g., approximately 3%) reduction in its percentage stock ownership as a result of the deemed redemption. These
rules are complex and dependent upon specific factual circumstances particular to each U.S. holder. Each U.S. holder that owns First Mid
common stock before the effective time of the merger should consult its tax advisor as to the application of these rules to the particular
facts relevant to such U.S. holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Cash in Lieu of Fractional Shares of First Mid
Common Stock.</I> A U.S. holder who receives cash instead of a fractional share of First Mid common stock will be treated as having received
the fractional share of First Mid common stock pursuant to the merger and then as having exchanged the fractional share of First Mid common
stock for cash in a redemption by First Mid. In general, this deemed redemption will be treated as a sale or exchange, and a U.S. holder
will recognize gain or loss equal to the difference between (i) the amount of cash received by such U.S. holder and (ii) the portion of
the basis of the shares of Delta common stock allocable to such fractional interest. Such gain or loss generally will constitute capital
gain or loss and will be long-term capital gain or loss if the U.S. holder&#8217;s holding period for the Delta common stock exchanged
by such U.S. Holder is greater than one year as of the effective time of the merger.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Medicare Tax on Unearned Income.</I> A U.S.
holder that is an individual is subject to a 3.8% tax on the lesser of (i)&nbsp;his or her &#8220;net investment income&#8221; for the
relevant taxable year or (ii)&nbsp;the excess of his or her modified adjusted gross income for the taxable year over a certain threshold
(between $125,000 and $250,000 depending on the individual&#8217;s U.S. federal income tax filing status). A similar regime applies to
estates and trusts. Net investment income generally would include any capital gain incurred in connection with the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Backup Withholding and Information Reporting.</I>
Payments of cash to a U.S. holder of Delta common stock pursuant to the merger may, under certain circumstances, be subject to information
reporting and backup withholding unless the holder provides proof of an applicable exemption satisfactory to First Mid and the exchange
agent or, in the case of backup withholding, furnishes its taxpayer identification number and otherwise complies with all applicable requirements
of the backup withholding rules. Any amounts withheld from payments to a U.S. holder under the backup withholding rules are not additional
tax and generally will be allowed as a refund or credit against the U.S. holder&#8217;s U.S. federal income tax liability, provided the
required information is timely furnished to the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A U.S. holder of Delta common stock, as a result
of having received First Mid common stock in the merger, will be required to retain records pertaining to the merger. In addition, each
U.S. holder of Delta common stock who is a &#8220;significant holder&#8221; will be required to file&nbsp;a statement with such holder&#8217;s
U.S. federal income tax return in accordance with Treasury Regulations Section&nbsp;1.368-3(b) setting forth such holder&#8217;s basis
in the Delta common stock surrendered and the fair market value of the First Mid common stock and cash received in the merger. A &#8220;significant
holder&#8221; is a holder of Delta common stock who, immediately before the merger, owned at least 5% of the vote or value of the outstanding
stock of Delta or securities of Delta with a basis for federal income taxes of at least $1&nbsp;million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Tax Implications to Non-U.S. Stockholders.</I>&nbsp;For
purposes of this discussion, the term &#8220;non-U.S. holder&#8221; means a beneficial owner of Delta common stock (other than an entity
treated as a partnership for U.S. federal income tax purposes) that is not a U.S. holder. The rules governing the U.S. federal income
taxation of non-U.S. holders are complex, and no attempt will be made herein to provide more than a limited summary of those rules. Any
gain a non-U.S. holder recognizes from the exchange of Delta common stock for First Mid common stock and cash in the merger generally
will not be subject to U.S. federal income taxation unless (a)&nbsp;the gain is effectively connected with a trade or business conducted
by the non-U.S. holder in the United States, or (b)&nbsp;in the case of a non- U.S. holder who is an individual, such stockholder is present
in the United States for 183&nbsp;days or more in the taxable year of the sale and other conditions are met. Non-U.S. holders described
in (a)&nbsp;above will be subject to tax on gain recognized at applicable U.S. federal income tax rates and, in addition, non-U.S. holders
that are corporations (or treated as corporations for U.S. federal income tax purposes) may be subject to a branch profits tax equal to
30% (or a lesser rate under an applicable income tax treaty) on their effectively connected earnings and profits for the taxable year,
which would include such gain. Non-U.S. holders described in (b)&nbsp;above will be subject to a flat 30% tax on any gain recognized,
which may be offset by U.S. source capital losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as may be otherwise provided in an applicable
United States income tax treaty, a non-U.S. holder that conducts a trade or business within the United States generally will be taxed
at ordinary United States federal income tax rates (on a net income basis) on dividends that are effectively connected with the conduct
of such trade or business and such dividends will not be subject to the withholding described above. A foreign corporation may also be
subject to a 30% &#8220;branch profits tax&#8221; unless a lower rate applies under an applicable United States income tax treaty.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
any gain or dividend income a non-U.S. holder recognizes from the exchange of Delta common stock for First Mid common stock and cash in
the merger is </FONT>effectively connected with the conduct of such trade or business, <FONT STYLE="font-family: Times New Roman, Times, Serif">then
the gain or the dividend income will be subject to U.S. federal income tax at graduated rates for non-U.S. holders other than corporations
and the flat corporate rate (currently 21%) for non-U.S. holders that are corporations (including, if applicable, special lower rates
that may be applicable to certain gain and dividends). If the non-U.S. holder is eligible for the benefits of a tax treaty between the
United States and the non-U.S. holder&#8217;s country of residence, any effectively connected gain or dividend income would generally
be subject to U.S. federal income tax only if it is also attributable to a permanent establishment or fixed place of business maintained
by the non-U.S. holder in the United States. To claim exemption from withholding for any effectively connected dividend or gain, the non-U.S.
holder must certify its qualification, which can be done by providing Form W-8ECI. In addition, non-U.S. holders that are corporations
(or treated as corporations for U.S. federal income tax purposes) may be subject to a branch profits tax equal to 30% (or a lesser rate
under an applicable income tax treaty), referenced above, on their effectively connected earnings and profits for the taxable year, which
would include such gain. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This discussion does not address tax consequences
that may vary with, or are contingent upon, individual circumstances. Moreover, it does not address any non-income tax or any foreign,
state or local tax consequences of the merger. Tax matters are very complicated, and the tax consequences of the merger to you will depend
upon the facts of your particular situation. <B>Accordingly, we strongly urge you to consult with a tax advisor to determine the particular
federal, state, local or foreign tax consequences to you as a result of the merger.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_051"></A>DESCRIPTION
OF THE MERGER AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>The following is a summary of the material terms
of the merger agreement. This summary does not purport to describe all the terms of the merger agreement and is qualified by reference
to the complete text of the merger agreement, which is attached as Appendix&nbsp;A to this proxy statement/prospectus and is incorporated
by reference into this proxy statement/prospectus. You should read the merger agreement completely and carefully as it, rather than this
description, is the legal document that governs the merger.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>The text of the merger agreement has been included
to provide you with information regarding its terms. The terms of the merger agreement (such as the representations and warranties) are
intended to govern the contractual rights and relationships, and allocate risks, between the parties in relation to the merger The merger
agreement contains representations and warranties that First Mid and Delta made to each other as of specific dates. The representations
and warranties were negotiated between the parties with the principal purpose of setting forth their respective rights with respect to
their obligations to complete the merger. The statements embodied in those representations and warranties may be subject to important
limitations and qualifications as set forth therein, including a contractual standard of materiality different from that generally applicable
under federal securities laws.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_052"></A>General</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subje</FONT>ct
to the terms and conditions of the merger agreement and in accordance with the GBCLM and the Delaware Limited Liability Company Act, Delta
will merge with and into Merger Sub, a wholly-owned subsidiary of First Mid, and Merger Sub will be the surviving entity. The separate
corporate existence of Delta will terminate as a result of the merger. The merger is anticipated to be completed in late 2021. Following
the completion of the merger, Merger Sub will be merged with and into First Mid, with First Mid as the surviving entity. At a time to
be determined by First Mid, First Mid will cause the merger of Jefferson Bank with and into First Mid Bank, with First Mid Bank being
the surviving entity. At such time, Jefferson Bank&#8217;s banking offices will become banking offices of First Mid Bank. Until the banks
are merged, First Mid will own and operate Jefferson Bank and First Mid Bank as separate bank subsidiaries.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_053"></A>Closing and effective time</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Closing.</I> The closing of the merger will
take place on the fifth business day following the satisfaction or waiver of the conditions to closing set forth in the merger agreement,
or at another time that both parties mutually agree upon. See &#8220;&#8212;Conditions to completion of the merger&#8221; for a more complete
description of the conditions that must be satisfied prior to closing. The date of the completion of the merger sometimes is referred
to in this proxy statement/prospectus as the &#8220;closing date.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Completion of the Merger.</I> The merger will
become effective as of the date and time specified in the articles of merger that will be filed with the Secretary of State of Missouri
and the Secretary of State of Delaware. The time at which the merger becomes effective is sometimes referred to in this proxy statement/prospectus
as the &#8220;effective time.&#8221;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_054"></A>Merger consideration</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If the merger is completed, each share of Delta
common stock which Delta stockholders own immediately before the completion of the merger will be converted into the right to receive
$352.26 per share in cash without interest and 55.1061 shares of common stock, par value $4.00 per share, of First Mid, less any applicable
taxes required to be withheld and subject to certain adjustments set forth in the merger agreement. Additionally, Delta&#8217;s outstanding
stock options will be fully vested upon consummation of the merger, and all outstanding Delta stock options that are unexercised prior
to the closing will be cashed out pursuant to the terms of the merger agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Based on the <FONT STYLE="font-family: Times New Roman, Times, Serif">closing
price of First Mid&#8217;s common stock of $39.90 on July 28, 2021, and the </FONT>41,420.3 shares of Delta common stock outstanding as
of July 28, 2021, the date of the merger agreement, and assuming approximately 581 equity award equivalent shares (which are shares of
Delta common stock underlying the 581 outstanding Delta stock options being cashed out at the closing of the merger), assuming no adjustments
to the merger consideration, Delta stockholders are expected to receive total aggregate merger consideration from First Mid of approximately
$106&nbsp;million, subject to receipt of cash in lieu of fractional shares. Shares of Delta common stock held by Delta stockholders who
elect to exercise their dissenters&#8217; rights will not be converted into merger consideration.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger consideration is subject to the following
adjustments:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Delta Consolidated Stockholders&#8217; Equity is Less than $75,411,189. </I> If the closing consolidated balance sheet delivered
by Delta to First Mid as of the last day of the month preceding the closing date of the merger, or as of three business days prior to
the closing date of the merger if such date is more than three business days following the last day of the preceding month, reflects consolidated
stockholders&#8217; equity (as computed and adjusted in accordance with the merger agreement) less than $75,411,189, for every $50,000
shortfall thereof, the cash consideration will be reduced by $1.21 per share. As of June 30, 2021, Delta&#8217;s consolidated stockholders'
equity as computed in accordance with GAAP was $75,411,189. As of the date of this proxy statement/prospectus, the parties are not aware
of any existing facts or circumstances that would cause the consolidated stockholders&#8217; equity included in the closing consolidated
balance sheet to be less than $75,411,189. For the purposes of this potential adjustment, the consolidated stockholders&#8217; equity
of Delta reflected on the closing consolidated balance sheet shall be computed and adjusted in accordance with the terms of the merger
agreement to reflect that the following amounts (which amounts cannot be known until the date of the closing consolidated balance sheet)
shall be disregarded, and not be taken into account or otherwise reduce such consolidated stockholders&#8217; equity reflected on the
closing consolidated balance sheet: (A) any changes to the valuation of the Delta&#8217;s investment portfolio attributed to ASC 320,
whether upward or downward, from June 30, 2021 until the date of the closing consolidated balance sheet, (B) the aggregate fees and expenses
of attorneys, accountants, consultants, financial advisors and other professional advisors incurred by Delta and its subsidiaries in connection
with the merger agreement or the transactions contemplated thereby, (C) any amounts paid or payable to any director, officer or employee
of Delta or any of its subsidiaries under any contract, severance arrangement, benefit plan or employment practice of Delta or any of
its subsidiaries and all other payroll and non-payroll related costs and expenses incurred by Delta or any of its subsidiaries in connection
with the merger agreement or the transactions contemplated thereby, (D) costs associated with the termination of Delta&#8217;s employee
benefit plans, (E) any costs associated with the termination of Delta&#8217;s data processing agreement, (F) any negative provisions for
loan losses taken by Delta from the date of the merger agreement until the date of the closing consolidated balance sheet, and (G) any
other expenses incurred solely in connection with the transactions contemplated by the merger agreement, in each case incurred or to be
incurred by Delta or any of its subsidiaries through the effective time of the merger in connection with the merger agreement and the
transactions contemplated thereby.</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Decrease in Market Price of First Mid Common Stock. </I>If at any time during the five business day period commencing on the fifteenth
business day preceding the closing date of the merger (which we refer to as the &#8220;determination date&#8221;), the 10 trading day
average closing price of a share of First Mid common stock (we refer to such average closing price as the &#8220;First Mid market value&#8221;)
is less than $31.42 and decreases by more than 20% in relation to the Nasdaq Bank Index, Delta will have the right to terminate the merger
agreement unless First Mid elects to increase the exchange ratio within five business days of Delta&#8217;s notice of termination. First
Mid may elect to increase the exchange ratio to equal the lesser of (i) a quotient, the numerator of which is equal to the product of
(A) $39.28, (B) the exchange ratio and (C) the quotient of the average daily closing value of the Nasdaq Bank Index for the ten consecutive
trading days immediately preceding the determination date divided by the average daily closing value of the Nasdaq Bank Index for the
ten consecutive trading days immediately preceding July 28, 2021 minus 0.20 and the denominator of which is equal to the average daily
closing sales price of First Mid for the ten consecutive trading days immediately preceding the determination date; or (ii) the quotient
determined by dividing $39.28 by the First Mid market value on the determination date, and multiplying the quotient by the product of
the exchange ratio and 0.80. If First Mid elects to increase the exchange ratio, the merger agreement will remain in effect in accordance
with its terms, except that the consideration for the merger will be increased to reflect the revised exchange ratio. If First Mid declines
to increase the exchange ratio, the merger will be abandoned. If First Mid or any company belonging to the Nasdaq Bank Index declares
or effects a stock dividend, reclassification, recapitalization, split-up, combination, exchange of shares or similar transaction between
July 28, 2021 and the determination date, the prices for the common stock of such company shall be appropriately adjusted for the purposes
of adjusting the exchange ratio pursuant to this paragraph.</TD></TR></TABLE>
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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><I>Reclassification, Recapitalization or other Readjustment to First Mid Common Stock. </I>If, prior to the effective time, the number
of shares of First Mid common stock are changed into a different number of shares or a different class of shares because of any reclassification,
recapitalization, split-up, combination, exchange of shares or readjustment, or if a stock dividend thereof shall be declared with a record
date within such period, an appropriate and proportionate adjustment shall be made to the exchange ratio so as to provide the holders
of Delta common stock with the same economic effect as contemplated by the merger agreement prior to such event.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The market price of First Mid common stock will
fluctuate before the completion of the merger and may also fluctuate between the completion of the merger and the time holders of Delta
common stock receive any First Mid common stock. Holders of Delta common stock should obtain current stock price quotations for First
Mid common stock before voting on the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">No fractional shares of First Mid common stock
will be issued in the merger. Instead, First Mid will pay to each holder of Delta common stock who would otherwise be entitled to a fractional
share of First Mid common stock an amount in cash (without interest) rounded to the nearest whole cent, determined by multiplying the
weighted average of the daily closing sales prices of a share of First Mid common stock as reported on the Nasdaq Global Select Market
for the ten consecutive trading days immediately preceding the closing date of the merger by the fractional share of First Mid common
stock to which such former holder would otherwise be entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Treatment of Delta Stock Options</I></B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta&#8217;s outstanding stock options will be
fully vested upon the effective time of the merger, and all outstanding Delta stock options that are unexercised prior to the effective
time of the merger will be automatically cancelled and the holder of each such Delta stock option will receive a cash payment (without
interest) equal to the product of (a) the excess, if any, of (i) $352.26, plus (ii) the Closing Parent Common Stock Price multiplied by
the Stock Consideration that would otherwise be payable for each share of Delta common stock issuable had each such option been exercised
immediately prior to the closing of the merger, minus (iii) the exercise price per share of such Delta stock option, and (b) the number
of shares of Delta common stock issuable upon exercise of such Delta stock option (we refer to this amount as the &#8220;option consideration&#8221;).
&#8220;Closing First Mid Common Stock Price&#8221; means the weighted average of the daily closing sales prices of a share of First Mid
common stock as reported on the Nasdaq Global Select Market for the ten consecutive trading days immediately preceding the closing date.
As of the effective time of the merger, all Delta stock options, whether or not vested or exercisable, will no longer be outstanding and
shall automatically cease to exist, and the holder of Delta stock options will cease to have any rights with respect to such Delta stock
option, except the right to receive the option consideration; provided that, if the exercise price of such Delta stock option is equal
to or greater than the aggregate of clauses (a)(i) and (a)(ii) above, such Delta stock option shall be cancelled without any payment of
option consideration being made. The option consideration will be paid in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Dissenting Shares</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of Delta common stock who perfect their
appraisal rights (also referred to as dissenters&#8217; rights) under the GBCLM (who we refer to as &#8220;dissenting stockholders&#8221;)
will have the right to receive &#8220;fair value&#8221; of their shares of Delta common stock, determined as of the date of the meeting
at which the merger is approved. This &#8220;fair value&#8221; could be more than the merger consideration but could also be less. Dissenting
stockholders will not have the right to receive merger consideration in the merger and will only be entitled to their rights as dissenting
stockholders under the GBCLM. If any dissenting stockholder effectively withdraws or loses his, her or its right to dissenters&#8217;
rights of appraisal, such holder will have the right to receive merger consideration in the merger. See &#8220;The Merger &#8211; Delta
stockholder dissenters&#8217; rights.&#8221;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><A NAME="a_055"></A>Exchange Procedures</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid has engaged Computershare to act as its
exchange agent to handle the exchange of Delta common stock for the merger consideration and the payment of cash for any fractional share
interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As promptly as practicable after the closing date,
the exchange agent will mail to each holder of record of Delta common stock, other than dissenting stockholders, a letter of transmittal
containing instructions for surrendering Delta common stock certificates to the exchange agent and obtaining the aggregate merger consideration
that the stockholder is entitled to receive pursuant to the merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">You must carefully follow the instructions in the
letter of transmittal and return a properly executed letter of transmittal and your Delta stock certificates, if any, to the exchange
agent in order to receive the merger consideration for your shares. Delta stock certificates submitted for exchange must be in a form
that is acceptable for transfer (as explained in the letter of transmittal). Neither First Mid nor its exchange agent will be under any
obligation to notify any person of any defects in the letter of transmittal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of Delta common stock who cannot locate
their stock certificates, should follow the instructions set forth in the letter of transmittal for lost or stolen stock certificates.
Holders of Delta common stock who hold their shares in book-entry form should follow the instructions set forth in the letter of transmittal
with respect to shares of Delta common stock held in book-entry form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As soon as reasonably practicable after its receipt
of properly completed and signed letters of transmittal and accompanying Delta stock certificates, First Mid&#8217;s exchange agent will
issue by book-entry transfer shares of First Mid common stock and the cash representing the merger consideration, together with cash in
lieu of fractional share interests. No interest will be paid on any cash payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Until the certificates representing Delta common
stock are surrendered for exchange, holders of such certificates will not receive the merger consideration or dividends or distributions
on the First Mid common stock into which such Delta common stock have been converted. When the certificates are surrendered to First Mid&#8217;s
exchange agent, any unpaid dividends or other distribution will be paid without interest. In no event will First Mid, the exchange agent,
or any other person be liable to any former holder of shares of Delta common stock for any amount delivered in good faith to a public
official pursuant to applicable abandoned property, escheat or similar laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; border-bottom-width: 0in; border-bottom-color: Black"><B>Holders
of Delta common stock should follow the instructions in the letter of transmittal for sending their stock certificates to the exchange
agent. Please do not include your stock certificates with your proxy mailing.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_056"></A>Voting agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On July 28, 2021, the directors of Delta entered
into a voting agreement with First Mid. Under this agreement, these stockholders have each agreed to vote, subject to their fiduciary
duties, their respective shares of Delta common stock:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>in favor of the transactions contemplated by the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>against any action or agreement which would result in a breach of any term of, or any other obligation of Delta under the merger agreement;
and</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>against any action or agreement which would impede, interfere with or attempt to discourage the transactions contemplated by the merger
agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Furthermore, subject to certain limited exceptions,
each of these stockholders agreed not to sell, assign or transfer any shares of Delta common stock that they own without the prior written
consent of First Mid. The 24,429.62 shares of Delta common stock subject to the voting agreement represent approximately 59% of Delta&#8217;s
outstanding shares of common stock as of July 28, 2021. The voting obligations under the voting agreement will automatically terminate
upon the earliest of the effective time, the termination of the merger agreement in accordance with its terms or April 28, 2022. A copy
of the form of voting agreement is attached to this proxy statement/prospectus as <I>Appendix&nbsp;C</I>.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_057"></A>Conduct of business pending the merger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Conduct of Business of Delta.</I> Under the
merger agreement, Delta has agreed to certain restrictions on its activities and the activities of its subsidiaries until the merger is
completed or the merger agreement is terminated. In general, Delta and its subsidiaries are required to conduct their business in the
ordinary course of business and use commercially reasonable efforts to maintain and preserve intact its business organization and advantageous
business relationships.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a summary of the more significant
restrictions imposed upon Delta, subject to the exceptions set forth in the merger agreement. Delta will not, and will not permit its
subsidiaries to, without First Mid&#8217;s prior written consent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>effect a change in the capitalization of Delta or issue, grant, or sell any options, equity appreciation or purchase rights, warrants,
conversion rights or other rights, securities or commitments obligating Delta to issue, sell or register any equity securities, or any
securities or obligations convertible into, or exercisable or exchangeable for, any equity securities;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>pay any dividends or other distributions on any equity securities, except Delta is permitted to may pay customary, ordinary course
dividends on shares of Delta following January 1, 2022 if the closing of the merger shall not have occurred prior to the customary, ordinary
course payment date for such dividends;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>amend the material terms of, waive any rights under, terminate, knowingly violate the terms of or enter into any contract material
to Delta;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>amend its articles of incorporation or by-laws, the certificate of incorporation or by-laws of certain of its subsidiaries, the charter
or by-laws of Jefferson Bank, or any other governing document;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>increase the compensation of the officers or key employees of Delta and its subsidiaries, pay any bonuses except in the ordinary course
of business, or hire any employee with an annual salary in excess of $100,000;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>establish, amend, or terminate any employee benefit plan;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>fail to use commercially reasonable efforts to maintain present insurance coverage in respect of their properties and business;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>incur or guarantee any indebtedness for borrowed money, except with respect to indebtedness to the Federal Home Loan Bank, trade payables
and similar liabilities and obligations incurred in the ordinary course of business;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>maintain an allowance for loan and lease losses which is not adequate in all material respects under the requirements of GAAP to provide
for possible losses, net of recoveries relating to loans previously charged off, on loans and leases outstanding (including accrued interest
receivable);</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>enter into any new credit or lending relationships in an amount over $750,000 that would require an exception to Jefferson Bank&#8217;s
formal loan policy or to extend additional credit to any person unless within exceptions provided in the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>apply or consent to any extension of time for filing any tax return or any extension of the period of limitations applicable thereto;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>implement or adopt any change in its accounting principles, practices or methods, other than as may be required by GAAP or applicable
regulatory accounting requirements;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>make any expenditure for fixed assets in excess of $100,000 for any single item, or $250,000 in the aggregate, or enter into leases
of fixed assets having an annual rental in excess of $100,000 in the aggregate;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>incur any liabilities or obligations, make any commitments or disbursements, acquire (other than by way of foreclosures or acquisitions
of control in a fiduciary or similar capacity or in satisfaction of debts previously contracted in good faith, in each case in the ordinary
course of business) or dispose of any property or asset, make any contract or agreement, or engage in any transaction except in the ordinary
course of business consistent with prudent banking practices and the current policies of Delta and its subsidiaries;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>enter into any new line of business or materially change its lending, investment, underwriting, risk and asset liability management
and other banking and operating policies;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>settle any action, suit, claim or proceeding against it or any of its subsidiaries in excess of $100,000 or, if less than $100,000
that would impose a material restriction of the business of Delta or any of its subsidiaries or create precedent for claims that are reasonably
likely to be material to Delta;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>make application for the opening, relocation or closing of any, or open, relocate or close any, branch office, loan production office
or other significant office or operations facility;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>enter into any employment, consulting or similar agreements that are not terminable by 30 days&#8217; or fewer notice without penalty
or obligation;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>become a party to, establish, amend, commence participation in, terminate or commit itself to the adoption of any stock option plan
or other stock-based compensation plan, compensation, severance, pension, consulting, non-competition, change in control, retirement,
profit-sharing, welfare benefit, or other employee benefit plan or agreement or employment agreement with or for the benefit of any employee
(or newly hired employees), director or stockholder; accelerate the vesting of or lapsing of restrictions with respect to any long-term
incentive compensation under any benefit plans; cause the funding of any rabbi trust or similar arrangement or take any action to fund
or in any other way secure the payment of compensation or benefits under any company benefit plan; or materially change any actuarial
assumptions used to calculate funding obligations with respect to any company benefit plans that is required by applicable law to be funded
or change the manner in which contributions to such plans are made or the basis on which such contributions are determined, except as
may be required by GAAP or any applicable law;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>engage or agree to engage in any &#8220;covered transaction&#8221; within the meaning of Sections 23A or 23B of the Federal Reserve
Act or any transactions of the kind referred to in Section; or</TD></TR></TABLE>
<!-- Field: Page; Sequence: 74; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>agree to take, make an agreement to take or adopt any resolutions in support of the actions described above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Conduct of Business of First Mid.</I> Under
the merger agreement, First Mid has agreed to certain restrictions on its activities and the activities of its subsidiaries until the
merger is completed or the merger agreement is terminated. In general, First Mid is required to conduct its business in the ordinary course
of business and use commercially reasonable efforts to maintain and preserve intact its business organization and advantageous business
relationships.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a summary of the more significant
restrictions imposed upon First Mid, subject to the exceptions set forth in the merger agreement. First Mid will not (and neither it nor
its subsidiaries will agree to take, make any commitment to take or adopt any resolutions in support of any action to), without Delta&#8217;s
prior written consent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>amend its certificate of incorporation or by-laws or similar governing documents of any of its subsidiaries, in a manner that would
materially and adversely affect the benefits of the merger to the stockholders of Delta;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>implement or adopt any change in its accounting principles, practices or methods, other than as may be required by GAAP or applicable
regulatory accounting requirements; or</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>agree to take, make any commitment to take or adopt any resolutions in support of the actions described above.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_058"></A>Certain covenants of the parties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition to the restrictions noted above, the
merger agreement contains certain other covenants and agreements, including, among other things, the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid agreed to file its applications with the Federal Reserve and the MO DOF and take all other appropriate actions necessary
to obtain the regulatory approvals required for the merger as soon as practicable after the execution of the merger agreement and Delta
and Jefferson Bank agreed to use all reasonable and diligent efforts to assist in obtaining such approvals.</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid agreed, to the extent necessary, to file a notification form for the listing of the shares of First Mid common stock issuable
pursuant to the merger agreement on the Nasdaq Global Select Market.</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid and Delta each agreed to use their respective commercially reasonable efforts in good faith to satisfy the conditions required
to close the merger and to consummate the merger as soon as practicable and not to intentionally take or intentionally permit to be taken
any action that would be in breach of the terms or provisions of the merger agreement (including any action that would impair or impede
the timely obtainment of the required regulatory approvals) or that would cause any of the representations contained in the merger agreement
to be or become untrue.</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid and Delta each agreed to coordinate with the other the declaration of, record date and payment date for any dividends on
either party&#8217;s common stock.</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Delta agreed to duly call, give notice of, convene and hold a meeting of its stockholders for the purpose of obtaining approval of
the merger agreement and the transactions contemplated therein.</TD></TR></TABLE>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid and Delta each agreed to coordinate any public statement regarding the transactions contemplated by the merger agreement
to the media.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger agreement also contains certain covenants
relating to employee benefits and other matters pertaining to officers and directors. See &#8220;The Merger&#8212;Interests of certain
persons in the merger&#8221; on page 50.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_059"></A>No solicitation of or discussions relating to
an acquisition proposal</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except as described below, Delta has agreed in
the merger agreement that it will not, and will cause its subsidiaries to not, solicit, initiate or knowingly encourage or facilitate
any inquiries regarding, or the making of any proposal or offer that constitutes an acquisition proposal. Delta also agreed to cause each
of its each of its officers, directors, employees, consultants, accountants, brokers, financial advisors, legal counsel, agents, advisors
and other representatives to cease immediately and cause to be immediately terminated all soliciting activities, discussions and negotiations
and access to nonpublic information with, to or by any person (other than First Mid) regarding any proposal that constitutes, or could
reasonably be expected to lead to, any acquisition proposal</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the foregoing restrictions, prior
to obtaining approval of the merger from the Delta stockholders, in the event that the Delta board of directors determines in good faith
and after consultation with outside counsel, that in light of an acquisition proposal, it is necessary to provide such information or
engage in such negotiations or discussions in order to act in a manner consistent with its fiduciary duties, Delta&#8217;s board of directors
may, in response to an unsolicited acquisition proposal that constitutes or is reasonably expected to result in a superior acquisition
proposal, subject to certain conditions, including notice to First Mid, (i) furnish information with respect to Delta or Jefferson Bank
to such person making such acquisition proposal pursuant to a customary confidentiality agreement and (ii) participate in discussions
or negotiations regarding such acquisition proposal and/or (iii) terminate the merger agreement in order to concurrently enter into an
agreement with respect to such superior acquisition proposal. However, prior to terminating the merger agreement pursuant to this provision,
Delta must provide First Mid at least five days&#8217; notice thereof and provide First Mid with an opportunity, pursuant to procedures
set forth in the merger agreement, to make an offer that is more favorable to the Delta stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Under the merger agreement, &#8220;superior acquisition
proposal&#8221; means an acquisition proposal containing terms that the board of directors of Delta determines in its good faith judgment
(based on the advice of an independent financial advisor) to be more favorable to Delta&#8217;s stockholders than the merger and for which
financing, to the extent required, is then committed or which, in the good faith judgment of the Delta board of directors, is reasonably
capable of being obtained by such third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If First Mid terminates the merger agreement
because Delta breaches its covenant not to solicit an acquisition proposal from a third party or if Delta terminates the merger
agreement in order to enter into an agreement for a superior proposal, Delta will pay to First Mid a termination fee equal to
$3,090,000. See &#8220;&#8212;Termination fee.&#8221;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_060"></A>Representations and warranties</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger agreement contains representations and
warranties made by Delta and First Mid. These include, among other things, representations relating to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>valid corporate organization and existence;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ownership of their respective subsidiaries;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>corporate power and authority to enter into the merger and the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>absence of any breach of organizational documents or law as a result of the merger;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>capitalization;</TD></TR></TABLE>
<!-- Field: Page; Sequence: 76; Value: 1 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>consents and approvals;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>financial statements;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>filing of necessary reports with regulatory authorities;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>loans and reserves for loan losses;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>compliance with the Community Reinvestment Act;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>compliance with laws; and</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>broker/finder fees.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta made additional representations and warranties
to First Mid in the merger agreement relating to, among other things:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>books of minutes and stock records;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>undisclosed liabilities;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>real property, personal property and other material assets;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>compliance with, absence of default under and information regarding, material contracts;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>affiliate transactions;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>environmental matters;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>employee matters;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>employee benefit plans;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>intellectual property;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>certain tax matters;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>investment securities;</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_061"></A>Conditions to completion of the merger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Closing Conditions for the Benefit of First
Mid and Merger Sub</I>. The obligations of First Mid and Merger Sub are subject to fulfillment of certain conditions, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>accuracy of representations and warranties of Delta in the merger agreement as of the closing date of the merger, except as otherwise
set forth in the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>performance by Delta in all material respects of its obligations under the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>approval of the merger agreement and the transactions contemplated therein at the meeting of Delta stockholders;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>execution and delivery of the articles of merger, in form suitable for filing with the Missouri Secretary of State and Delaware Secretary
of State;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>no order, injunction, decree, statute, rule, regulation or other legal restraint or prohibition preventing or making illegal the consummation
of the merger or any of the other transactions contemplated by the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>receipt of all necessary regulatory approvals;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the registration statement, of which this proxy statement/prospectus is a part, concerning First Mid common stock issuable pursuant
to the merger agreement having been declared effective by the SEC and continuing to be effective as of the effective time of the merger;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>receipt of a certificate signed on behalf of Delta certifying (i)&nbsp;the accuracy of the representations and warranties of Delta
in the merger agreement and (ii)&nbsp;performance by Delta in all material respects of its obligations under the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>receipt of a tax opinion from its tax counsel that (i)&nbsp;the merger constitutes a &#8220;reorganization&#8221; within the meaning
of Section&nbsp;368(a) of the Internal Revenue Code and (ii)&nbsp;each of First Mid and Delta will be a party to such reorganization within
the meaning of Section&nbsp;368(b) of the Internal Revenue Code; and</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>no material adverse change shall have occurred with respect to Delta and its subsidiaries, taken as a whole, since July 28, 2021.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Closing Conditions for the Benefit of Delta</I>.
Delta&#8217;s obligations are subject to fulfillment of certain conditions, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>accuracy of representations and warranties of First Mid and Merger Sub in the merger agreement as of the closing date of the merger,
except as otherwise set forth in the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>performance by each of First Mid and Merger Sub in all material respects of its respective obligations under the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>approval of the merger agreement and the transactions contemplated therein at the meeting of Delta stockholders;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>execution and delivery of the articles of merger, in form suitable for filing with the Missouri Secretary of State and Delaware Secretary
of State;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>no order, injunction, decree, statute, rule, regulation or other legal restraint or prohibition preventing or making illegal the consummation
of the merger or any of the other transactions contemplated by the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>receipt of all necessary regulatory approvals;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the registration statement, of which this proxy statement/prospectus is a part, concerning First Mid common stock issuable pursuant
to the merger agreement having been declared effective by the SEC and continuing to be effective as of the effective time of the merger;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>receipt of a certificate signed on behalf of First Mid certifying (i)&nbsp;the accuracy of representations and warranties of First
Mid and Merger Sub in the merger agreement and (ii)&nbsp;performance by each of First Mid and Merger Sub in all material respects of its
respective obligations under the merger agreement;</TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>receipt of a tax opinion from its tax advisor that (i)&nbsp;the merger constitutes a &#8220;reorganization&#8221; within the meaning
of Section&nbsp;368(a) of the Internal Revenue Code and (ii)&nbsp;each of First Mid and Delta will be a party to such reorganization within
the meaning of Section&nbsp;368(b) of the Internal Revenue Code; and</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>no material adverse change in First Mid since July 28, 2021.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_062"></A>Termination</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid and Delta may mutually agree to terminate
the merger agreement and abandon the merger at any time. Subject to conditions and circumstances described in the merger agreement, either
First Mid or Delta may terminate the merger agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any regulatory authority has denied approval of any of the transactions contemplated by the merger agreement or issued a final nonappealable
order that has the effect of making consummation of the merger illegal or otherwise preventing or prohibiting consummation of the merger,
or any application for a necessary regulatory approval has been withdrawn at the request of a regulatory authority, provided that such
right to terminate is not available to a party whose failure to perform or observe the covenants of the merger agreement has been the
cause of the denial or withdrawal of regulatory approval;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the merger is not completed by April 28, 2022 (which we refer to as the &#8220;outside date&#8221;), provided that such right to terminate
is not available to a party whose failure to fulfill any of its obligations under the merger agreement has resulted in the failure of
the merger to be completed before such date;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>approval of the Delta stockholders necessary for the merger is not obtained; or</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any state or federal law, rule or regulation is adopted or issued and becomes effective and has the effect of prohibiting the merger.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, Delta may terminate the merger agreement
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if Delta is not in material breach of the merger agreement, and any of the representations or warranties of First Mid are or become
untrue or inaccurate such that the conditions set forth in the merger agreement would not be satisfied or there has been a breach by First
Mid of any of its covenants or agreements in the merger agreement causes it to fail to perform in all material respects all agreements
required to be performed by it under the merger agreement, and, in either such case, such breach has not been, or cannot be, cured prior
to the earlier of two business days before the outside date or thirty days after notice to First Mid from Delta;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>prior to Delta&#8217;s meeting of stockholders, in order to enter into an agreement with respect to an unsolicited superior proposal
from a third party, provided that First Mid be provided with an opportunity, pursuant to procedures set forth in the merger agreement,
to make an offer that is more favorable to the Delta stockholders, and further provided that the termination fee is paid by Delta to First
Mid; or</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if at any time during the five business day period commencing on the fifteenth business day immediately preceding the effective time
of the merger, the average closing price of a share of First Mid common stock is less than $31.42 and decreases by more than 20% in relation
to the Nasdaq Bank Index, Delta will have the right to terminate the merger agreement unless First Mid elects to increase the exchange
ratio pursuant to the formula described in the section entitled &#8220;The Merger Agreement&#8212;Merger Consideration.&#8221;</TD></TR></TABLE>
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, First Mid may terminate the merger
agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>if First Mid is not in material breach of the merger agreement, and any of the representations or warranties of Delta are or become
untrue or inaccurate such that the conditions set forth in the merger agreement would not be satisfied or there has been a breach by Delta
of any of its covenants or agreements in the merger agreement causes it to fail to perform in all material respects all agreements required
to be performed by it under the merger agreement, and, in either such case, such breach has not been, or cannot be, cured prior to the
earlier of two business days before the outside date or thirty days after notice to Delta from First Mid; or</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>prior to Delta&#8217;s stockholders meeting if Delta&#8217;s board of directors (i) approves or recommends, or proposes publicly to
approve or recommend, any acquisition of Delta by a third-party, and/or permits Delta to enter into an acquisition agreement with a third
party or (ii) recommends that the stockholders of Delta tender their shares of Delta common stock in an tender offer or exchange offer
for Delta common stock has commenced (other than by First Mid or its affiliates) or fails to recommend rejection of such offer within
ten business days after its commencement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any termination of the merger agreement will not
relieve the breaching party from liability resulting from its fraud or any willful and material beach by that party of the merger agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_063"></A>Termination fee</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta has agreed to pay First Mid a termination
fee of $3,090,000 if the merger agreement is terminated:</P>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>by First Mid or Delta if the merger has not been consummated by April 28, 2022 because of a breach by Delta of its covenant not to
solicit acquisition proposals and, prior to such termination, an alternative proposal (substituting 50% for the 15% thresholds in the
definition thereof, which we refer to as a &#8220;qualifying transaction&#8221;) was publicly announced or otherwise communicated to First
Mid and is not withdrawn or otherwise abandoned and such qualifying transaction is consummated within 12&nbsp;months following the termination
of the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>by First Mid or Delta if the Delta stockholder approval has not been obtained because of a breach by Delta of its covenant not to
solicit acquisition proposals and prior to the special meeting a qualifying transaction was publicly announced or otherwise communicated
to First Mid and is not withdrawn or otherwise abandoned and such qualifying transaction is consummated within 12&nbsp;months following
the termination of the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>by First Mid if Delta has breached its covenant not to solicit acquisition proposals and prior to such termination an alternative
proposal was publicly announced or otherwise communicated to First Mid and is not withdrawn or otherwise abandoned and such alternative
offer is consummated within 12&nbsp;months following the termination of the merger agreement;</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>by Delta in connection with accepting a superior proposal; or</TD></TR></TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>by First Mid if (i)&nbsp;the Delta board of directors fails to include in the proxy statement/prospectus the recommendation that the
stockholders approve the merger agreement and the transactions contemplated thereby, including the merger, or makes a company recommendation
change, (ii)&nbsp;the Delta board of directors approves or recommends an alternative proposal or superior proposal and/or permits Delta
to enter into an alternative acquisition agreement related to an alternative proposal or a superior proposal, (iii)&nbsp;Delta fails to
call a special meeting of its stockholders or to deliver the proxy statement/prospectus to its stockholders in material breach of specified
provisions of the merger agreement, or (iv)&nbsp;a tender offer or exchange offer for the outstanding shares of Delta common stock is
commenced and the Delta board of directors recommends that the Delta stockholders tender their shares in connection with such offer or
within ten business days after the commencement of such tender or exchange offer, or the Delta board of directors fails to recommend rejection
of such offer.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_064"></A>Management of First Mid after the merger</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The First Mid executive officers will remain the
same following the merger. Delta will be merged with and into Merger Sub, the sole member of which is First Mid.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_065"></A>Nasdaq stock listing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid common stock currently is listed on the
Nasdaq Global Select Market under the symbol &#8220;FMBH.&#8221; Delta&#8217;s common stock is not traded on any established public trading
market. The shares to be issued to Delta&#8217;s stockholders as merger consideration also will be eligible for trading on the Nasdaq
Global Select Market.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><A NAME="a_066"></A>Amendment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The merger agreement may be amended in writing
by the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none"><A NAME="a_067"></A>SECURITY
OWNERSHIP OF DIRECTORS AND OFFICERS AND CERTAIN BENEFICIAL OWNERS OF DELTA </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth, as of September
10, 2021, the shares of Delta common stock beneficially owned by (i) each director, the chief executive officer, the chief financial officer
and the next other most-highly compensated executive officer of Delta and (ii) all directors and executive officers as a group. No person
who is not also a director beneficially owns 5% or more of the Delta common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Name and Address of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Beneficial Owner</B></P></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Amount of Shares </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Owned and Nature </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>of Beneficial Ownership <SUP>(1)</SUP></B></P></TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="white-space: nowrap; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Percent of Shares </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>of Common Stock<BR> Outstanding</B></P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="font-weight: bold; text-decoration: underline; text-align: left"><B><U>Directors and Named Executive Officers</U>:</B> <SUP>(2)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 70%; text-align: left">Michael J. Ross<SUP>(3)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 12%; text-align: center">10,059.78</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD><TD STYLE="width: 12%; text-align: center">24.21%</TD><TD STYLE="white-space: nowrap; width: 1%; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Stephen P. Ross<SUP>(4)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">1,287.25</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">3.10%</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left">Mary Carol Millsap<SUP>(5)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">2,814.84</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">6.77%</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Nancy J. Agnew<SUP>(6)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">2,126.49</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">5.12%</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left">Susan E. Kraus<SUP>(7)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">3,964.65</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">9.54%</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Kathleen A. Shaner<SUP>(8)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">2,848.61</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">6.86%</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left">John L. Dulle<SUP>(9)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">984.00</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">2.37%</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: left">Bradley A. Locke<SUP>(10)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">449.00</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">1.08%</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left">Marilyn J. Oberkramer<SUP>(11)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">184.00</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">*</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: left">&nbsp;All Directors and Executive Officers as a Group (9 persons)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">24,718.62</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: center">59.49%</TD><TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less than 1%</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(1) </SUP>In accordance with Rule 13d-3 of the Exchange Act, for
purposes of this table, a person is deemed to be the beneficial owner of our common stock if he or she has or shares voting or investment
power with respect to such security, or has a right to acquire beneficial ownership at any time within 60 days from September 10, 2021.
As used herein, &#8220;voting power&#8221; is the power to vote or direct the voting of shares, and &#8220;investment power&#8221; is
the power to dispose or direct the disposition of the shares. The shares set forth in this table include all shares held directly, as
well as by spouses and minor children, in trust and in other forms of indirect ownership. The nature of beneficial ownership for shares
shown in this column, unless otherwise noted, represents sole voting and investment power.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(2)</SUP> The business address of each director and executive
officer is 2301 Market Street, Saint Louis, Missouri 63103.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(3)</SUP> Shares are held in the name of a trust over which Mr.
Ross has power as trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(4)</SUP> Shares are held in the name of a trust over which Mr.
Ross has power as grantor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(5)</SUP> Shares are held in the name of a trust over which Ms.
Milsap has power as trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(6)</SUP> Shares are held in the name of three trusts over which
Ms. Agnew has power as trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(7)</SUP> Shares are held in the name of two trusts over which
Ms. Kraus has power as trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(8)</SUP> Shares are held in the name of a trust over which Ms.
Shaner has power as trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(9)</SUP> Includes unexercised options to purchase 54.00 shares
of Delta&#8217;s common stock granted to Mr. Dulle, 902.00 shares held in the name of a trust over which Mr. Dulle has power as trustee,
and 28.00 shares held by Mr. Dulle as custodian for four family members.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(10)</SUP> Includes options to purchase 87.00 shares of Delta&#8217;s
common stock granted to Mr. Locke and 362.00 shares held jointly by Mr. Locke and his spouse.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP></SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(11)</SUP> Includes options to purchase 85.00 shares of Delta&#8217;s
common stock granted to Ms. Oberkramer and 99.00 shares held in the name of Ms. Oberkramer and her spouse.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_068"></A>COMPARISON
OF RIGHTS OF FIRST Mid STOCKHOLDERS AND<BR>
Delta STOCKHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>As a stockholder of Delta, your rights are governed
by Delta&#8217;s articles of incorporation and its bylaws, each as amended and currently in effect. Upon completion of the merger, Delta
stockholders who receive shares of First Mid common stock in exchange for their shares of Delta common stock will become stockholders
of First Mid and their rights will be governed by First Mid&#8217;s restated certificate of incorporation and amended and restated bylaws,
each as amended and currently in effect, as well as the rules and regulations applying to public companies. First Mid is incorporated
in Delaware and subject to the Delaware Statutory Code and Delta is incorporated in Missouri and is subject to the Missouri Revised Statutes.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>The following discussion summarizes material
similarities and differences between the rights of Delta stockholders and First Mid stockholders and is not a complete description of
all of the differences or of the specific provisions referred to in this summary. This discussion is qualified in its entirety by reference
to the Delaware Statutory Code and the Missouri Revised Statutes, and First Mid&#8217;s restated certificate of incorporation, Delta&#8217;s
articles of incorporation and First Mid&#8217;s and Delta&#8217;s respective bylaws, each as amended and restated from time to time.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; text-align: center">First Mid Stockholder Rights</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; text-align: center">Delta Stockholder Rights</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Authorized Capital Stock:</I></TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First Mid is authorized to issue 30,000,000 shares of common stock,
    par value $4.00 per share, and one million shares of preferred stock, no par value per share.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of August 4, 2021, First Mid had 18,083,126 shares of common stock
    outstanding, 620,690 shares of common stock held in treasury and zero shares of preferred stock outstanding.</P></TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta is authorized to issue 100,000 shares of common stock, par value
    $10.00 per share and 30,000 shares of preferred stock par value $0.01 per share, liquidation value $1,000 per share, of which 8,000 shares
    have been designated Series A Cumulative Non-Voting Perpetual Preferred Stock and 4,000 shares have been designated Series B Cumulative
    Non-Voting Perpetual Preferred Stock.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of September 10, 2021, Delta had 41,548.30 shares of common stock
    outstanding and 18,451.70 shares of common stock held in treasury and zero shares of preferred stock outstanding.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Dividends:</I></TD>
    <TD>&nbsp;</TD>
    <TD>First Mid&#8217;s board of directors may declare dividends at any regular or special meeting, pursuant to law. </TD>
    <TD>&nbsp;</TD>
    <TD>Delta&#8217;s board of directors may declare dividends from time to time, pursuant to law.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Number of Directors; Classification:</I></TD>
    <TD>&nbsp;</TD>
    <TD>First Mid&#8217;s board of directors currently consists of 9 members.&nbsp;&nbsp;First Mid&#8217;s amended and restated certificate of incorporation provide that the number of directors constituting the entire board of directors shall be determined by resolution of the board of directors or by First Mid&#8217;s stockholders at an annual meeting and shall be not less than one nor more than twenty-one.</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta&#8217;s board of directors currently consists of seven members.
    Delta&#8217;s articles of incorporation provides that there shall be seven directors. All directors are elected annually for one-year
    terms.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>First Mid&#8217;s board of directors is divided into three classes.&nbsp;&nbsp;Directors are elected for three-year terms, with one class of directors up for election at each annual meeting of stockholders.&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; text-align: center">First Mid Stockholder Rights</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; text-align: center">Delta Stockholder Rights</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%"><I>Election of Directors; Vacancies:</I></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 37%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each First Mid stockholder is entitled to one vote for each share of
    capital stock having voting power held by such stockholder.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First Mid&#8217;s amended and restated certificate of incorporation
    and bylaws do not provide for cumulative voting.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First Mid&#8217;s amended and restated certificate of incorporation
    provide that any vacancy on the board of directors may be filled by a majority of the directors then in office, or by a sole remaining
    director.</P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 36%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Delta stockholder is entitled to one vote for each share of stock
    held by such stockholder.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta&#8217;s bylaws provide that stockholders may cumulate their votes
    in the election of directors and give one candidate as many votes as the number of directors multiplied by the number of shares such stockholder
    owns or distribute such votes on the same principle among as many candidates as the stockholder sees fit.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta&#8217;s bylaws provide that any vacancy on the board of directors
    may be filled by a majority of the directors then in office.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Removal of Directors:</I></TD>
    <TD>&nbsp;</TD>
    <TD>First Mid&#8217;s amended and restated certificate of incorporation provide that any director, whether elected by the stockholders, or appointed by the directors, may be removed from office only for cause and by the affirmative vote or written consent of the holders of shares having at least 66.66% of the voting power of all outstanding capital stock of First Mid entitled to vote thereon.&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Neither Delta&#8217;s bylaws provide nor its articles of incorporation
    address removal of directors. Under Missouri law directors may be removed as follows</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(i) One or more directors or the entire board of directors may be removed,
    with or without cause, by a vote of the holders of a majority of the shares then entitled to vote at an election of directors. If the
    articles of incorporation or bylaws provide for cumulative voting in the election of&nbsp;directors, if less than the entire&nbsp;board&nbsp;is
    to be removed, no one of the&nbsp;directors&nbsp;may be removed if the votes cast against such director's removal would be sufficient
    to elect such director if then cumulatively voted at an election of the entire&nbsp;board of directors, or, if there be classes of&nbsp;directors,
    at an election of the class of&nbsp;directors&nbsp;of which such&nbsp;director&nbsp;is a part.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ii) Any director of the corporation may be removed for cause by action
    of a majority of the entire board of directors if the director to be removed shall, at the time of removal, fail to meet the qualifications
    stated in the articles of incorporation or bylaws for election as a director or shall be in breach of any agreement between such director
    and the corporation relating to such director's services as a director or employee of the corporation.<FONT STYLE="color: #595959; background-color: white">&nbsp;</FONT></P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; text-align: center">First Mid Stockholder Rights</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; text-align: center">Delta Stockholder Rights</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%"><I>Call of Special Meeting of Directors:</I></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 37%">First Mid&#8217;s amended and restated bylaws provide that a special meeting of the board of directors may be called by the president on two days' notice to each director, or called by the president or corporate secretary on the written request of two directors.</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 36%">Delta&#8217;s bylaws provide that a special meeting of the board of directors may be called by the President or by any 2 directors by written notice sent at least one day prior to the time of holding the meeting.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Limitation on Director Liability:</I></TD>
    <TD>&nbsp;</TD>
    <TD>First Mid&#8217;s amended and restated certificate of incorporation provide that no director shall be personally liable to First Mid or its stockholders for monetary damages for breach of fiduciary duty by such director as a director; provided, however, that liability is not eliminated or limited with respect to:&nbsp;&nbsp;(i) any breach of the director&#8217;s duty of loyalty to First Mid or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under section 174 of the DGCL, or (iv) for any transaction from which the director derived an improper personal benefit.&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Delta&#8217;s articles of incorporation provide that&nbsp;&nbsp;no director will be personally liable to Delta or it shareholders for monetary damages for breach of fiduciary duty as a director, except for liability (a) for any breach of the directors duty of loyalty to Delta or its shareholders, (b) for acts or omissions not in subjective good faith or which involve intentional misconduct or a knowing violation of law, (c) pursuant to Section 351.345 of Missouri Revised Statutes, or (d) for any transaction for which the director derived an improper personal benefit.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Indemnification:</I></TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First Mid&#8217;s amended and restated certificate of incorporation
    provide that First Mid shall indemnify all persons whom it may indemnify to the fullest extent permitted by Section 145 of the DGCL.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta&#8217;s articles of incorporation provide for indemnification
    for any person who was or is a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
    or investigative, other than an action by or in the right of Delta, by reason of the fact that such person is or was a director, officer,
    employee or agent of Delta, or is or was serving at the request of Delta as a director, officer, employee or agent of another corporation,
    partnership, joint venture, trust or other enterprise, against expenses, including attorneys&#8217; fees, judgements, fines and amounts
    paid in settlement incurred by such person in connection with such action suit or proceeding if such person acted in good faith and in
    a manner such person reasonably believed to be in the best interests of Delta.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta&#8217;s articles of incorporation also provide for indemnification
    for any person who is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the
    right of Delta to procure a judgement in its favor by reason of the fact that such person is or was a director, officer, employee or agent
    of Delta, or is or was serving at the request of Delta as a director, officer, employee or agent of another corporation, partnership,
    joint venture, trust or other enterprise against expenses, including attorneys&#8217; fees and amounts paid in settlement incurred by
    such person in connection with the defense or settlement of the action or suit if such person acted in good faith and in a manner such
    person reasonably believed to be in or not opposed to the best interest of Delta.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; text-align: center">First Mid Stockholder Rights</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; text-align: center">Delta Stockholder Rights</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%"><I>Call of Special Meetings of Stockholders:</I></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 37%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First Mid&#8217;s amended and restated bylaws provide that a special
    meeting of the stockholders may be called by the president and shall be called by the president or secretary at the request in writing
    of a majority of the board of directors, or at the request in writing of stockholders owning a majority in an amount of the entire capital
    stock of First Mid issued and outstanding and entitled to vote.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Such request must state the purpose or purposes of the proposed meeting.</P></TD>
    <TD STYLE="width: 2%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 36%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta&#8217;s bylaws provide that a special meeting of the stockholders
    may be called by the president, by the board of directors or by the holders of not less than one-fifth of all of the outstanding shares
    of Delta entitled to vote at such meeting.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Written notice stating the place, date, and hour of the meeting and
    the purposes for which the meeting is called must be given not less than 10 days nor more than 50 days before the date of the meeting,
    to each stockholder entitled to vote at such meeting. Only business set forth in the notice shall be addressed at the special meeting.</TD>
    <TD>&nbsp;</TD>
    <TD>Written notice stating the place, date, time and purpose of the meeting must be given not less than 10 days nor more than 30 days before
    the date of such meeting. In addition Delta shall publish the required notice in a daily newspaper published in the city where the registered
    office of the corporation is located, the first insertion to be not less than 10 days prior to the date of the meeting; such notice to
    be published at least nine times.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Quorum of Stockholders:</I></TD>
    <TD>&nbsp;</TD>
    <TD>First Mid&#8217;s amended and restated bylaws provide that the holders of a majority of the stock issued and outstanding and entitled to vote thereat, present in person or represented by proxy, shall constitute a quorum at all meetings of the stockholders for the transaction of business except as otherwise provided by statute.</TD>
    <TD>&nbsp;</TD>
    <TD>Delta&#8217;s bylaws provide that the holders of a majority of the outstanding shares entitled to vote at a meeting, represented in person or by proxy, constitute a quorum at a stockholders&#8217; meeting; provided that, in no event, will a quorum consist of less than a majority of the outstanding shares entitled to vote, but&nbsp;&nbsp;less than such quorum shall have the right to adjourn the meeting.</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; text-align: center">First Mid Stockholder Rights</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; text-align: center">Delta Stockholder Rights</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%"><I>Advance Notice Regarding Stockholders Nomination of Candidates for Election to the Board of Directors:</I></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 37%">First Mid&#8217;s amended and restated certificate of incorporation provide that nominations, other than those made by or on behalf of the existing First Mid board of directors shall be made pursuant to timely notice in proper written form to First Mid&#8217;s corporate secretary.</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 36%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Neither Delta&#8217;s articles of incorporation nor its bylaws address
    stockholder nominations of candidates for election to Delta&#8217;s board of directors.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">To be timely, a stockholder&#8217;s nomination shall be delivered or mailed by first class United States mail, postage prepaid, to the corporate secretary of First Mid not fewer than 14 days nor more than 60 days prior to any meeting of the stockholders called for the election of directors</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Each written nomination shall set forth (1) the name, age, business address and, if known, residence address of each nominee proposed in such written nomination, (2) the principal occupation or employment of each such nominee for the past five years and (3) the number of shares of stock of First Mid beneficially owned by each such nominee and by the nominating stockholder.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Stockholder Action by Written Consent:</I></TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">First Mid&#8217;s amended and restated bylaws provide that any action
    required to be taken at any annual or special meeting of First Mid stockholders, or any action which may be taken at any annual or special
    meeting of First Mid stockholders, may be taken without a meeting, without prior notice and without a vote, if a consent in writing, setting
    forth the action so taken, shall be signed by the holders of outstanding stock having not less than the minimum number of votes that would
    be necessary to authorize or take such action at a meeting at which all shares entitled to vote thereon were present and voted.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Prompt notice of the taking of the corporate action without a meeting
    by less than unanimous written consent shall be given to First Mid stockholders who have not consented in writing.</P></TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Neither Delta&#8217;s articles of incorporation nor its bylaws address
    stockholder action by written consent.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Missouri law generally provides that any action required to be taken
    at a meeting of the&nbsp;shareholders&nbsp;of a corporation, or any action which may be taken at a meeting of the&nbsp;shareholders&nbsp;of
    a corporation, or any action which may be taken at a meeting of the&nbsp;shareholders, may be taken without a meeting if consents in writing,
    setting forth the action so taken, shall be signed by all of the&nbsp;shareholders&nbsp;entitled to vote with respect to the subject matter
    thereof.&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Appointment and Removal of Officers:</I></TD>
    <TD>&nbsp;</TD>
    <TD>First Mid&#8217;s amended and restated bylaws provide that each officer shall be chosen by the board of directors and shall hold their office for such terms as determined from time to time by the board of directors and until his or her successor is chosen and qualified.&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Delta&#8217;s bylaws provide that the officers shall be appointed by the board of directors annually at the annual meeting of the board and shall hold office for one year and until their respective successors are elected and qualified.&nbsp;&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 23%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; text-align: center">First Mid Stockholder Rights</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 36%; border-bottom: black 1pt solid; text-align: center">Delta Stockholder Rights</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 37%">Any officer may be removed by the affirmative vote of a majority of the board of directors.</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 36%">Any officer elected by the board may be removed by the board of directors.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Mergers, Consolidations and Similar Transactions</I></TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Delaware law, subject to limited exceptions, the board of directors
    and the holders of a majority of the outstanding shares entitled to vote must approve a merger, consolidation, or sale of all or substantially
    all of a corporation&#8217;s assets.</P></TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under Missouri law, the board of directors and the holders of at least
    two-thirds of the outstanding shares entitled to vote must approve a merger, consolidation or exchange of shares.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><I>Amendment to Charter and Bylaws:</I></TD>
    <TD>&nbsp;</TD>
    <TD>Under its amended and restated certificate of incorporation, First Mid reserves the right to amend, alter, change or repeal any provision contained in its certificate of incorporation.</TD>
    <TD>&nbsp;</TD>
    <TD>Delta&#8217;s articles of incorporation do not address the right to amend, alter, change or repeal any provision contained in its article of incorporation.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Pursuant to First Mid&#8217;s amended and restated bylaws and certificate of incorporation, the bylaws may be altered, amended or repealed or new bylaws may be adopted by the stockholders or by the board of directors at any regular meeting of the board of directors or of the stockholders or at any special meeting of the board of directors or of the stockholders, if notice of such alteration, amendment, repeal or adoption of new by-laws be contained in the notice of such special meeting of the stockholders</TD>
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Delta&#8217;s article of incorporation provide that the Board has the
    power to make, alter, amend or repeal the Bylaws.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to Delta&#8217;s bylaws, the bylaws may be made, altered,
    amended or repealed at any regular or special meeting of the board of directors.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"></P>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_069"></A>STOCKHOLDER
PROPOSALS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>First Mid. </I>First Mid&#8217;s 2021 annual
meeting of stockholders was held on April&nbsp;28, 2021. First Mid generally holds its annual meeting of the stockholders in April of
each year and it is anticipated that its 2022 annual meeting of stockholders will be held in April of 2022. In order to be eligible for
inclusion in First Mid&#8217;s proxy materials for the 2022 annual meeting of stockholders, any stockholder proposal to take action at
such meeting must be received at First Mid&#8217;s main office at 1421 Charleston Avenue, P.O. Box 499, Mattoon, Illinois 61938, no later
than November 16, 2021. Any such proposal shall be subject to the requirements of the proxy rules adopted under the Securities Exchange
Act. Any stockholder wishing to nominate an individual for election as a director at the 2022 annual meeting must comply with certain
provisions in First Mid&#8217;s certificate of incorporation. First Mid&#8217;s certificate of incorporation establishes an advance notice
procedure with regard to the nomination, other than by or at the direction of First Mid&#8217;s board of directors, of candidates for
election as directors. If the notice is not timely and in proper form, the proposed nomination will not be considered at the annual meeting.
Generally, such notice must be delivered to or mailed to and received by the corporate secretary of First Mid not fewer than 14 days nor
more than 60 days before a meeting at which directors are to be elected. To be in proper form, each written nomination must set forth:
(1) the name, age business address and, if known, the residence address of the nominee, (2) the principal occupation or employment of
the nominee for the past five years, and (3) the number of shares of stock of First Mid beneficially owned by the nominee and by the nominating
stockholder. The stockholder must also comply with certain other provisions set forth in First Mid&#8217;s certificate of incorporation
relating to the nomination of an individual for election as a director. In addition, if First Mid does not receive notice of a stockholder
proposal for the 2022 annual meeting of stockholders at least 45 days before the one-year anniversary of the date that First Mid&#8217;s
proxy statement was released to the stockholders for its previous year&#8217;s annual meeting, proxies solicited by the management of
First Mid will confer discretionary authority upon the management of First Mid to vote upon any such proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Delta. </I>Delta&#8217;s 2021 annual meeting
of stockholders was held on January 15, 2021. If the merger occurs, there will be no Delta annual meeting of stockholders for 2022. Delta
will hold its 2022 annual meeting of stockholders only if the merger is not completed.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_070"></A>LEGAL
MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The validity of the First Mid common stock to be
issued in connection with the merger will be passed upon for First Mid by Schiff Hardin LLP. Certain U.S. federal income tax consequences
relating to the merger will be passed upon for First Mid by Schiff Hardin LLP and for Delta by Armstrong Teasdale LLP.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><A NAME="a_071"></A>EXPERTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The consolidated financial statements of First
Mid appearing in its Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2020, and the effectiveness of its internal
control over financial reporting as of December&nbsp;31, 2020, have been audited by BKD, LLP, independent registered public accounting
firm, as set forth in its reports thereon, included therein, and incorporated herein by reference. Such consolidated financial statements
are incorporated herein by reference in reliance upon such reports given on the authority of such firm as experts in accounting and auditing.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none"><A NAME="a_072"></A>WHERE
YOU CAN FIND MORE INFORMATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid filed a registration statement on Form
S-4 with the SEC to register the shares of First Mid common stock to be issued to Delta&#8217;s stockholders upon completion of the merger.
This proxy statement/prospectus is a part of the registration statement and constitutes a prospectus of First Mid in addition to being
a proxy statement of Delta for its special meeting. As permitted by the SEC rules, this proxy statement/prospectus does not contain all
of the information that you can find in the registration statement or in the exhibits to the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid files annual, quarterly and current reports,
proxy statements and other information with the SEC. These filings are available to the public, free of charge, over the Internet at the
SEC&#8217;s website at <I>www.sec.gov</I>. <FONT STYLE="font-family: Times New Roman, Times, Serif">You may also read and copy any materials
filed with the SEC by First Mid at the SEC&#8217;s Public Reference Room at 100 F&nbsp;Street, N.E., Washington, D.C. 20549. You may obtain
information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. First Mid&#8217;s Internet address is
<I>www.firstmid.com</I>. The information on First Mid&#8217;s website is not part of this proxy statement/prospectus. You may obtain copies
of the information that First Mid files with the SEC, free of charge, by accessing First Mid&#8217;s website at <I>www.firstmid.com</I>
under the tab &#8220;About First Mid&#8221; then &#8220;Investor Relations&#8221; and then under &#8220;SEC Filings&#8221;. Alternatively,
these documents, when available, can be obtained free of charge from First Mid upon written request to First Mid Bancshares, Inc., Corporate
Secretary, 1421 Charleston Avenue, Mattoon, Illinois 61983 or by calling (217) 234-7454.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Delta does not file periodic reports or proxy <FONT STYLE="font-family: Times New Roman, Times, Serif">statements
with the SEC. You can find additional information about Delta upon written request to Delta Bancshares Company, 2301 Market Street, St.
Louis, Missouri 63103, Attn: Marilyn J. Oberkramer, Corporate Secretary, or by calling (314) 621-0100 ext. 1551.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><font style="font-family: Times New Roman, Times, Serif"><b>If
you would like to request documents, please do so by October 21, 2021 to receive them before the Delta special meeting. </b></font></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid has supplied all of the information contained
in, or incorporated by reference in, this proxy statement/prospectus relating to First Mid and its subsidiary bank. Delta has supplied
all of the information relating to Delta and its subsidiary bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">You
should rely only on the information contained or incorporated by reference in this proxy statement/prospectus to vote on the proposals
to Delta stockholders in connection with the merger. We have not </FONT>authorized anyone to provide you with information that is different
from what is contained in this proxy statement/prospectus. This proxy statement/prospectus is dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. You should not assume that the
information contained in this proxy statement/prospectus is accurate as of any other date other than such date, and neither the mailing
of this proxy statement/prospectus nor the issuance by First Mid of shares of First Mid common stock in connection with the merger will
create any implication to the contrary.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: none"><A NAME="a_073"></A>INCORPORATION
OF CERTAIN FIRST MID DOCUMENTS BY REFERENCE</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The SEC allows First Mid to &#8220;incorporate
by reference&#8221; the information that it files with the SEC, which means that First Mid can disclose important information to you by
referring to its filings with the SEC. The information incorporated by reference is considered a part of this proxy statement/prospectus,
and certain information that First Mid files later with the SEC will automatically update and supersede the information in this proxy
statement/prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid incorporates by reference the following
documents First Mid has filed with the SEC pursuant to Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act, other than information
in these documents that is not deemed to be filed with the SEC:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000156459021011529/fmbh-10k_20201231.htm">March 8, 2021</A>;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid&#8217;s Quarterly Reports on Form 10-Q for the period ended March 31, 2021, filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000156459021026124/fmbh-10q_20210331.htm">May 10, 2021</A>, as amended
by Form 10-Q/A filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000156459021029547/fmbh-10qa_20210331.htm">May 24, 2021</A>, and for the period ended June 30, 2021, filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000156459021040859/fmbh-10q_20210630.htm">August 4, 2021</A>;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid&#8217;s Proxy Statement on Schedule 14A and Definitive Additional Materials for the 2021 annual meeting of stockholders,
each filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/700565/000156459021014258/fmbh-def14a_20210428.htm">March 19, 2021</A>;</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The description of First Mid&#8217;s common stock contained in First Mid&#8217;s registration statement on Form 8-A filed with the
SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/700565/000070056514000022/form8a_043014.htm">April 30, 2014</A>, as amended, and any amendment or report filed for the purposes of updating such description; and</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>First Mid&#8217;s Current Reports on Form 8-K and Form 8-K/A, filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000156459021002547/fmbh-8k_20210126.htm">January
                                                                                                               27, 2021</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000117184321001155/f8k_021921.htm">February 19,
                                                                                                               2021</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000117184321001191/f8k_022021.htm">February 22, 2021</A>
                                                                                                               (as amended by Form 8-K/A filed with the SEC on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000156459021023393/fmbh-8ka_20210219.htm">May 4, 2021</A>), <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000117184321002440/f8k_041221.htm">April 12, 2021</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000156459021022283/fmbh-8k_20210428.htm">April 30, 2021</A> and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/700565/000117184321005238/f8k_072921.htm">July 29, 2021</A> (in each case other
                                                                                                               than those portions furnished under Item 2.02 or 7.01 of Form 8-K).</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition, First Mid is incorporating by reference
any documents it may file under Section&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this proxy statement/prospectus
and prior to the date of the special meetings of the First Mid stockholders, provided, however, that First Mid not incorporating by reference
any information furnished (but not filed), except as otherwise specified herein.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><A NAME="a_appa"></A><B>Appendix A &#8211; Merger Agreement</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Execution Copy</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 430.8pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AGREEMENT AND PLAN OF MERGER</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BY AND AMONG</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">FIRST MID BANCSHARES, INC.,</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BROCK SUB LLC</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DELTA BANCSHARES COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dated as of July 28, 2021</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 430.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#appa_001"><B>ARTICLE I THE MERGER</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_001">A-1</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left; width: 10%"><A HREF="#appa_002">1.1</A></TD>
    <TD STYLE="width: 80%"><A HREF="#appa_002">The Merger</A></TD>
    <TD STYLE="text-align: right; width: 10%"><A HREF="#appa_002">A-1</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_003">1.2</A></TD>
    <TD><A HREF="#appa_003">Effective Time</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_003">A-1</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_004">1.3</A></TD>
    <TD><A HREF="#appa_004">Effects of the Merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_004">A-2</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_005">1.4</A></TD>
    <TD><A HREF="#appa_005">Merger Consideration; Conversion of Shares.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_005">A-2</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_006">1.5</A></TD>
    <TD><A HREF="#appa_006">Company Options</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_006">A-3</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_007">1.6</A></TD>
    <TD><A HREF="#appa_007">Cancellation of Treasury Shares</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_007">A-4</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_008">1.7</A></TD>
    <TD><A HREF="#appa_008">Exchange of Certificates</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_008">A-4</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_009">1.8</A></TD>
    <TD><A HREF="#appa_009">No Fractional Shares</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_009">A-5</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_010">1.9</A></TD>
    <TD><A HREF="#appa_010">Dissenting Shares</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_010">A-5</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_011">1.10</A></TD>
    <TD><A HREF="#appa_011">Withholding</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_011">A-6</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_012">1.11</A></TD>
    <TD><A HREF="#appa_012">Closing</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_012">A-6</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#appa_013"><B>ARTICLE II REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_013">A-6</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_014">2.1</A></TD>
    <TD><A HREF="#appa_014">Organization.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_014">A-6</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_015">2.2</A></TD>
    <TD><A HREF="#appa_015">Organizational Documents; Minutes and Stock Records</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_015">A-7</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_016">2.3</A></TD>
    <TD><A HREF="#appa_016">Capitalization.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_016">A-8</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_017">2.4</A></TD>
    <TD><A HREF="#appa_017">Authorization; No Violation</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_017">A-8</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_018">2.5</A></TD>
    <TD><A HREF="#appa_018">Consents and Approvals</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_018">A-9</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_019">2.6</A></TD>
    <TD><A HREF="#appa_019">Financial Statements</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_019">A-9</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_020">2.7</A></TD>
    <TD><A HREF="#appa_020">No Undisclosed Liabilities</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_020">A-9</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_021">2.8</A></TD>
    <TD><A HREF="#appa_021">Loans; Loan Loss Reserves.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_021">A-10</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_022">2.9</A></TD>
    <TD><A HREF="#appa_022">Properties and Assets</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_022">A-11</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_023">2.10</A></TD>
    <TD><A HREF="#appa_023">Material Contracts</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_023">A-11</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_024">2.11</A></TD>
    <TD><A HREF="#appa_024">No Defaults</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_024">A-13</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_025">2.12</A></TD>
    <TD><A HREF="#appa_025">Transactions with Affiliates</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_025">A-13</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_026">2.13</A></TD>
    <TD><A HREF="#appa_026">Investments.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_026">A-13</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_027">2.14</A></TD>
    <TD><A HREF="#appa_027">Compliance with Laws; Legal Proceedings.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_027">A-14</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_028">2.15</A></TD>
    <TD><A HREF="#appa_028">Insurance</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_028">A-15</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_029">2.16</A></TD>
    <TD><A HREF="#appa_029">Taxes</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_029">A-15</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_030">2.17</A></TD>
    <TD><A HREF="#appa_030">Environmental Laws and Regulations.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_030">A-18</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_031">2.18</A></TD>
    <TD><A HREF="#appa_031">Community Reinvestment Act Compliance</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_031">A-19</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_032">2.19</A></TD>
    <TD><A HREF="#appa_032">Company Regulatory Reports</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_032">A-19</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_033">2.20</A></TD>
    <TD><A HREF="#appa_033">Employee Matters.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_033">A-19</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_034">2.21</A></TD>
    <TD><A HREF="#appa_034">Employee Benefit Plans.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_034">A-21</A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left; width: 10%"><A HREF="#appa_035">2.22</A></TD>
    <TD STYLE="width: 80%"><A HREF="#appa_035">Technology and Intellectual Property.</A></TD>
    <TD STYLE="text-align: right; width: 10%"><A HREF="#appa_035">A-23</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_036">2.23</A></TD>
    <TD><A HREF="#appa_036">Absence of Certain Changes or Events</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_036">A-24</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_037">2.24</A></TD>
    <TD><A HREF="#appa_037">Conduct of Business Since December 31, 2020</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_037">A-24</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_038">2.25</A></TD>
    <TD><A HREF="#appa_038">Change in Business Relationships</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_038">A-25</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_039">2.26</A></TD>
    <TD><A HREF="#appa_039">Brokers&rsquo; and Finders&rsquo; Fees</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_039">A-26</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_040">2.27</A></TD>
    <TD><A HREF="#appa_040">Opinion of Financial Advisor</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_040">A-26</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_041">2.28</A></TD>
    <TD><A HREF="#appa_041">Information Supplied</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_041">A-26</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_042">2.29</A></TD>
    <TD><A HREF="#appa_042">No Other Representations or Warranties</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_042">A-26</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><A HREF="#appa_043"><B>ARTICLE III REPRESENTATIONS AND WARRANTIES CONCERNING PARENT AND A-MERGER SUB</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_043">A-26</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_044">3.1</A></TD>
    <TD><A HREF="#appa_044">Organization</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_044">A-26</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_045">3.2</A></TD>
    <TD><A HREF="#appa_045">Capitalization</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_045">A-27</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_046">3.3</A></TD>
    <TD><A HREF="#appa_046">Authorization; No Violations</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_046">A-27</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_047">3.4</A></TD>
    <TD><A HREF="#appa_047">Consents and Approvals</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_047">A-28</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_048">3.5</A></TD>
    <TD><A HREF="#appa_048">Parent SEC Filings and Financial Statements.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_048">A-28</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_049">3.6</A></TD>
    <TD><A HREF="#appa_049">Compliance with Laws; Legal Proceedings.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_049">A-29</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_050">3.7</A></TD>
    <TD><A HREF="#appa_050">Parent Regulatory Reports</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_050">A-30</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_051">3.8</A></TD>
    <TD><A HREF="#appa_051">No Adverse Change</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_051">A-30</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_052">3.9</A></TD>
    <TD><A HREF="#appa_052">Taxation of the Merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_052">A-30</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_053">3.10</A></TD>
    <TD><A HREF="#appa_053">Brokers&rsquo; and Finders&rsquo; Fees</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_053">A-30</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_054">3.11</A></TD>
    <TD><A HREF="#appa_054">Information Supplied</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_054">A-30</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_055">3.12</A></TD>
    <TD><A HREF="#appa_055">Loans; Loan Loss Reserves.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_055">A-31</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_056">3.13</A></TD>
    <TD><A HREF="#appa_056">Financial Capability</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_056">A-31</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_057">3.14</A></TD>
    <TD><A HREF="#appa_057">Community Reinvestment Act Compliance</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_057">A-31</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_058">3.15</A></TD>
    <TD><A HREF="#appa_058">No Other Representations or Warranties</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_058">A-31</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#appa_059"><B>ARTICLE IV AGREEMENTS AND COVENANTS</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_059">A-32</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_060">4.1</A></TD>
    <TD><A HREF="#appa_060">Conduct of the Company&rsquo;s Business</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_060">A-32</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_061">4.2</A></TD>
    <TD><A HREF="#appa_061">Conduct of Parent&rsquo;s Business</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_061">A-34</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_062">4.3</A></TD>
    <TD><A HREF="#appa_062">Access to Information and Premises.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_062">A-35</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_063">4.4</A></TD>
    <TD><A HREF="#appa_063">Regulatory Filings of Parent</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_063">A-35</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_064">4.5</A></TD>
    <TD><A HREF="#appa_064">SEC Filings</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_064">A-36</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_065">4.6</A></TD>
    <TD><A HREF="#appa_065">Meeting</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_065">A-36</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_066">4.7</A></TD>
    <TD><A HREF="#appa_066">Publicity</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_066">A-37</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_067">4.8</A></TD>
    <TD><A HREF="#appa_067">No Conduct Inconsistent with this Agreement.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_067">A-37</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_068">4.9</A></TD>
    <TD><A HREF="#appa_068">Loan Charge-Off; Pre-Closing Loan Review.</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_068">A-39</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_069">4.10</A></TD>
    <TD><A HREF="#appa_069">Director and Officer Insurance Coverage</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_069">A-39</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_070">4.11</A></TD>
    <TD><A HREF="#appa_070">Interim Financial Statements</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_070">A-39</A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>
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<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left; width: 10%"><A HREF="#appa_071">4.12</A></TD>
    <TD STYLE="width: 80%"><A HREF="#appa_071">Dissent Process</A></TD>
    <TD STYLE="text-align: right; width: 10%"><A HREF="#appa_071">A-40</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_072">4.13</A></TD>
    <TD><A HREF="#appa_072">Section 368(a) Reorganization</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_072">A-40</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_073">4.14</A></TD>
    <TD><A HREF="#appa_073">Notice of Certain Events</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_073">A-40</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_074">4.15</A></TD>
    <TD><A HREF="#appa_074">Reasonable and Diligent Efforts</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_074">A-40</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_075">4.16</A></TD>
    <TD><A HREF="#appa_075">Shareholder Litigation</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_075">A-40</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_076">4.17</A></TD>
    <TD><A HREF="#appa_076">Section 16 Matters</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_076">A-40</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_077">4.18</A></TD>
    <TD><A HREF="#appa_077">Stock Exchange Listing</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_077">A-40</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_078">4.19</A></TD>
    <TD><A HREF="#appa_078">Dividends</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_078">A-40</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_079">4.20</A></TD>
    <TD><A HREF="#appa_079">Takeover Statutes</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_079">A-41</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#appa_080"><B>ARTICLE V EMPLOYEE BENEFIT MATTERS</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_080">A-41</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_081">5.1</A></TD>
    <TD><A HREF="#appa_081">Benefit Plans</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_081">A-41</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_082">5.2</A></TD>
    <TD><A HREF="#appa_082">No Rights or Remedies</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_082">A-42</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#appa_083"><B>ARTICLE VI CONDITIONS PRECEDENT TO OBLIGATIONS OF PARENT AND MERGER SUB</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_083">A-42</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_084">6.1</A></TD>
    <TD><A HREF="#appa_084">Representations and Warranties</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_084">A-42</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_085">6.2</A></TD>
    <TD><A HREF="#appa_085">Performance of Agreements</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_085">A-42</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_086">6.3</A></TD>
    <TD><A HREF="#appa_086">Closing Certificate</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_086">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_087">6.4</A></TD>
    <TD><A HREF="#appa_087">Regulatory and Other Approvals</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_087">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_088">6.5</A></TD>
    <TD><A HREF="#appa_088">Approval of Merger and Delivery of Articles of Merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_088">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_089">6.6</A></TD>
    <TD><A HREF="#appa_089">No Injunctions or Restraints; Illegality</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_089">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_090">6.7</A></TD>
    <TD><A HREF="#appa_090">No Material Adverse Effect</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_090">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_091">6.8</A></TD>
    <TD><A HREF="#appa_091">Tax Opinion</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_091">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_092">6.9</A></TD>
    <TD><A HREF="#appa_092">Effectiveness of the Registration Statement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_092">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_093">6.10</A></TD>
    <TD><A HREF="#appa_093">Closing Balance Sheet</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_093">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_094">6.11</A></TD>
    <TD><A HREF="#appa_094">Consents</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_094">A-43</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#appa_095"><B>ARTICLE VII CONDITIONS PRECEDENT TO OBLIGATIONS OF THE COMPANY</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_095">A-44</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_096">7.1</A></TD>
    <TD><A HREF="#appa_096">Representations and Warranties; Performance of Agreements</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_096">A-44</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_097">7.2</A></TD>
    <TD><A HREF="#appa_097">Performance of Agreements</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_097">A-44</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_098">7.3</A></TD>
    <TD><A HREF="#appa_098">Closing Certificate</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_098">A-44</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_099">7.4</A></TD>
    <TD><A HREF="#appa_099">Regulatory and Other Approvals</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_099">A-44</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_100">7.5</A></TD>
    <TD><A HREF="#appa_100">Approval of Merger and Delivery of Articles of Merger</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_100">A-44</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_101">7.6</A></TD>
    <TD><A HREF="#appa_101">No Injunctions or Restraints; Illegality</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_101">A-44</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_102">7.7</A></TD>
    <TD><A HREF="#appa_102">No Adverse Changes</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_102">A-45</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_103">7.8</A></TD>
    <TD><A HREF="#appa_103">Tax Opinion</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_103">A-45</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_104">7.9</A></TD>
    <TD><A HREF="#appa_104">Effectiveness of the Registration Statement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_104">A-45</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#appa_105"><B>ARTICLE VIII TERMINATION</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_105">A-45</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_106">8.1</A></TD>
    <TD><A HREF="#appa_106">Termination</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_106">A-45</A></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<TABLE BORDER="0" CELLPADDING="3" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left; width: 10%"><A HREF="#appa_107">8.2</A></TD>
    <TD STYLE="width: 80%"><A HREF="#appa_107">Effect of Termination.</A></TD>
    <TD STYLE="text-align: right; width: 10%"><A HREF="#appa_107">A-47</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: left"><A HREF="#appa_108"><B>ARTICLE IX GENERAL</B></A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_108">A-49</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_109">9.1</A></TD>
    <TD><A HREF="#appa_109">Confidential Information</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_109">A-49</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_110">9.2</A></TD>
    <TD><A HREF="#appa_110">Non-Assignment</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_110">A-49</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_111">9.3</A></TD>
    <TD><A HREF="#appa_111">Notices</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_111">A-49</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_112">9.4</A></TD>
    <TD><A HREF="#appa_112">Knowledge</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_112">A-50</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_113">9.5</A></TD>
    <TD><A HREF="#appa_113">Interpretation and Definitions</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_113">A-50</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_114">9.6</A></TD>
    <TD><A HREF="#appa_114">Entire Agreement</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_114">A-50</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_115">9.7</A></TD>
    <TD><A HREF="#appa_115">Extension; Waiver</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_115">A-51</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_116">9.8</A></TD>
    <TD><A HREF="#appa_116">Governing Law</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_116">A-51</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_117">9.9</A></TD>
    <TD><A HREF="#appa_117">Counterparts</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_117">A-51</A></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 20pt; text-align: left"><A HREF="#appa_118">9.10</A></TD>
    <TD><A HREF="#appa_118">Severability</A></TD>
    <TD STYLE="text-align: right"><A HREF="#appa_118">A-51</A></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEX OF DEFINED TERMS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; width: 59%">Term</TD>
    <TD STYLE="font-weight: bold; width: 41%">Page</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: left">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">2301 Market</TD>
    <TD STYLE="text-align: left">A-7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Acquisition Proposal</TD>
    <TD STYLE="text-align: left">A-37</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Affiliate</TD>
    <TD STYLE="text-align: left">A-50</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Agreement</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Alternative Acquisition Agreement</TD>
    <TD STYLE="text-align: left">A-38</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Applicable Law</TD>
    <TD STYLE="text-align: left">A-7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Articles of Merger</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Bank</TD>
    <TD STYLE="text-align: left">A-7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Bank Merger</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">BHCA</TD>
    <TD STYLE="text-align: left">A-6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Borrower Affiliate</TD>
    <TD STYLE="text-align: left">A-33</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">BSA/AML Law</TD>
    <TD STYLE="text-align: left">A-14</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Business Day</TD>
    <TD STYLE="text-align: left">A-50</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Cash Consideration</TD>
    <TD STYLE="text-align: left">A-2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Closing</TD>
    <TD STYLE="text-align: left">A-6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Closing Balance Sheet</TD>
    <TD STYLE="text-align: left">A-43</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Closing Date</TD>
    <TD STYLE="text-align: left">A-6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Closing Parent Common Stock Price</TD>
    <TD STYLE="text-align: left">A-5</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Code</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Commission</TD>
    <TD STYLE="text-align: left">A-9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Adverse Recommendation</TD>
    <TD STYLE="text-align: left">A-37</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Benefit Plans</TD>
    <TD STYLE="text-align: left">A-21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Board</TD>
    <TD STYLE="text-align: left">A-8</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Common Stock</TD>
    <TD STYLE="text-align: left">A-2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Disclosure Schedule</TD>
    <TD STYLE="text-align: left">A-6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Financial Statements</TD>
    <TD STYLE="text-align: left">A-9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Option</TD>
    <TD STYLE="text-align: left">A-3</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Recommendation</TD>
    <TD STYLE="text-align: left">A-36</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Shareholder Approval</TD>
    <TD STYLE="text-align: left">A-8</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Shareholders Meeting</TD>
    <TD STYLE="text-align: left">A-36</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Stock Certificates</TD>
    <TD STYLE="text-align: left">A-2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Company Subsidiaries</TD>
    <TD STYLE="text-align: left">A-7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Confidentiality Agreement</TD>
    <TD STYLE="text-align: left">A-35</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Consolidated Shareholders&rsquo; Equity</TD>
    <TD STYLE="text-align: left">A-3</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Conversion Fund</TD>
    <TD STYLE="text-align: left">A-4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">DE SOS</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Delta Redevelopment</TD>
    <TD STYLE="text-align: left">A-7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Determination Date</TD>
    <TD STYLE="text-align: left">A-46</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Dissenting Shares</TD>
    <TD STYLE="text-align: left">A-5</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">DLLCA</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">DOL</TD>
    <TD STYLE="text-align: left">A-21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Effective Time</TD>
    <TD STYLE="text-align: left">A-2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Employees</TD>
    <TD STYLE="text-align: left">A-20</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Encumbrances</TD>
    <TD STYLE="text-align: left">A-11</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Environmental Laws</TD>
    <TD STYLE="text-align: left">A-19</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">ERISA Affiliate</TD>
    <TD STYLE="text-align: left">A-21</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; width: 59%">ERISA Plans</TD>
    <TD STYLE="text-align: left; width: 41%">A-21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Exchange Act</TD>
    <TD STYLE="text-align: left">A-28</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Exchange Agent</TD>
    <TD STYLE="text-align: left">A-4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Exchange Ratio</TD>
    <TD STYLE="text-align: left">A-2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Excluded Shares</TD>
    <TD STYLE="text-align: left">A-4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Fair Lending Law</TD>
    <TD STYLE="text-align: left">A-14</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Federal Reserve</TD>
    <TD STYLE="text-align: left">A-28</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Federal Reserve Application</TD>
    <TD STYLE="text-align: left">A-28</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Final Index Price</TD>
    <TD STYLE="text-align: left">A-46</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">GAAP</TD>
    <TD STYLE="text-align: left">A-6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">GBCLM</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Governmental Authority</TD>
    <TD STYLE="text-align: left">A-9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Hazardous Materials</TD>
    <TD STYLE="text-align: left">A-19</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Index</TD>
    <TD STYLE="text-align: left">A-46</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Index Ratio</TD>
    <TD STYLE="text-align: left">A-46</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Initial Index Price</TD>
    <TD STYLE="text-align: left">A-46</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Initial Parent Market Value</TD>
    <TD STYLE="text-align: left">A-47</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Injunction</TD>
    <TD STYLE="text-align: left">A-43</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Intellectual Property</TD>
    <TD STYLE="text-align: left">A-23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Interim Balance Sheet</TD>
    <TD STYLE="text-align: left">A-9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Interim Financial Statements</TD>
    <TD STYLE="text-align: left">A-9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Investment Securities</TD>
    <TD STYLE="text-align: left">A-13</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">IRS</TD>
    <TD STYLE="text-align: left">A-21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">IT Assets</TD>
    <TD STYLE="text-align: left">A-24</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Knowledge</TD>
    <TD STYLE="text-align: left">A-50</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Licenses</TD>
    <TD STYLE="text-align: left">A-14</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Loans</TD>
    <TD STYLE="text-align: left">A-10</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Material Adverse Effect</TD>
    <TD STYLE="text-align: left">A-6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Material Contracts</TD>
    <TD STYLE="text-align: left">A-11</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Merger</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Merger Consideration</TD>
    <TD STYLE="text-align: left">A-2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Merger Sub</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Minimum Adjusted Net Worth</TD>
    <TD STYLE="text-align: left">A-3</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">MO DOF</TD>
    <TD STYLE="text-align: left">A-19</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">MO DOF Application</TD>
    <TD STYLE="text-align: left">A-28</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">MO SOS</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Multiemployer Plan</TD>
    <TD STYLE="text-align: left">A-22</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Option Consideration</TD>
    <TD STYLE="text-align: left">A-4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Ordinary Course of Business</TD>
    <TD STYLE="text-align: left">A-10</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Outside Date</TD>
    <TD STYLE="text-align: left">A-45</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Bank</TD>
    <TD STYLE="text-align: left">A-27</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Board</TD>
    <TD STYLE="text-align: left">A-27</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Common Stock</TD>
    <TD STYLE="text-align: left">A-2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Disclosure Schedule</TD>
    <TD STYLE="text-align: left">A-26</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Financial Statements</TD>
    <TD STYLE="text-align: left">A-28</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Loans</TD>
    <TD STYLE="text-align: left">A-31</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Market Value</TD>
    <TD STYLE="text-align: left">A-47</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Regulatory Reports</TD>
    <TD STYLE="text-align: left">A-30</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent SEC Reports</TD>
    <TD STYLE="text-align: left">A-28</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parent Stock Consideration</TD>
    <TD STYLE="text-align: left">A-2</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Parties</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Party</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">PBGC</TD>
    <TD STYLE="text-align: left">A-21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Permitted Encumbrances</TD>
    <TD STYLE="text-align: left">A-11</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Person</TD>
    <TD STYLE="text-align: left">A-7</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left; width: 59%">Pine Valley</TD>
    <TD STYLE="text-align: left; width: 41%">A-7</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Prior Company Bidders</TD>
    <TD STYLE="text-align: left">A-39</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Proxy Statement</TD>
    <TD STYLE="text-align: left">A-36</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Qualifying Transaction</TD>
    <TD STYLE="text-align: left">A-47</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Real Property</TD>
    <TD STYLE="text-align: left">A-11</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Registration Statement</TD>
    <TD STYLE="text-align: left">A-9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Regulatory Reports</TD>
    <TD STYLE="text-align: left">A-19</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Release</TD>
    <TD STYLE="text-align: left">A-19</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Representatives</TD>
    <TD STYLE="text-align: left">A-38</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Requisite Regulatory Approvals</TD>
    <TD STYLE="text-align: left">A-43</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Securities Act</TD>
    <TD STYLE="text-align: left">A-9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Superior Acquisition Proposal</TD>
    <TD STYLE="text-align: left">A-38</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Surviving Company</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Tax</TD>
    <TD STYLE="text-align: left">A-15</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Tax Returns</TD>
    <TD STYLE="text-align: left">A-16</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Taxes</TD>
    <TD STYLE="text-align: left">A-15</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Termination Date</TD>
    <TD STYLE="text-align: left">A-45</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Termination Fee</TD>
    <TD STYLE="text-align: left">A-48</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">UDAAP Law</TD>
    <TD STYLE="text-align: left">A-14</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: left">Voting Agreement</TD>
    <TD STYLE="text-align: left">A-1</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12pt; text-indent: -12pt">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EXHIBITS:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 12%; text-align: left">Exhibit A</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 85%; text-align: left">Form of Voting Agreement</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Exhibit B</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Form of Bank Merger Agreement</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AGREEMENT AND PLAN OF MERGER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">This AGREEMENT AND PLAN OF MERGER (this &#8220;<U>Agreement</U>&#8221;),
is entered into as of the 28th day of July, 2021, by and among First Mid Bancshares, Inc., a Delaware corporation (&#8220;<U>Parent</U>&#8221;),
Brock Sub LLC, a Delaware limited liability company (&#8220;<U>Merger Sub</U>&#8221;), Delta Bancshares Company, a Missouri corporation
(the &#8220;<U>Company</U>&#8221;). Parent, Merger Sub, and the Company are each referred to in this Agreement as a &#8220;<U>Party</U>&#8221;
and collectively in this Agreement as the &#8220;<U>Parties</U>.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">WHEREAS, the Parent Board and the Company Board,
and the sole member of Merger Sub, have each approved and declared it advisable and in the best interests of the Parties and their respective
shareholders or unit holders to effect a reorganization, whereby the Company will merge with and into Merger Sub, in the manner and on
the terms and subject to the conditions set forth in ARTICLE I (the &#8220;<U>Merger</U>&#8221;), as a result of which Merger Sub will
be the Surviving Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">WHEREAS, immediately following the Merger, the Surviving
Company will be merged with and into Parent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">WHEREAS, for federal income tax purposes the Parties
desire and intend that the Merger qualify as a reorganization in accordance with Section 368(a) of the Internal Revenue Code of 1986,
as amended (the &#8220;<U>Code</U>&#8221;), and that this Agreement constitute a &#8220;plan of reorganization&#8221; for purposes of
Section 368 of the Code; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">WHEREAS, concurrently with this Agreement, certain
shareholders of the Company have entered into a voting agreement by which they agree to vote in favor of this Agreement, the form of which
is attached hereto as <U>Exhibit A</U> (the &#8220;<U>Voting Agreement</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">NOW THEREFORE, in consideration of the premises and
the mutual promises herein made, and in consideration of the representations, warranties and covenants herein contained, the Parties agree
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="appa_001"></A><B>ARTICLE I<BR>
THE MERGER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_002"></A>1.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>The Merger</U><FONT STYLE="font-size: 10pt"><I>. </I>Upon the terms and subject to the conditions of this Agreement, on the
Closing Date and in accordance with the General and Business Corporation Law of Missouri, as amended (the &#8220;<U>GBCLM</U>&#8221;)
and the Delaware Limited liability Company Act, as amended (the &#8220;<U>DLLCA</U>&#8221;), <FONT STYLE="font-family: Times New Roman, Times, Serif">the
Company </FONT>shall be merged with and into Merger Sub, whereupon the separate corporate existence of the Company shall cease, and Merger
Sub shall continue as the company surviving the Merger (the &#8220;<U>Surviving Company</U>&#8221;). Immediately following the Merger,
the Surviving Company shall be merged with and into Parent. The Parent will cause the merger of the Bank with and into the Parent Bank
at a time to be determined by Parent following the Effective Time (the &#8220;<U>Bank Merger</U>&#8221;). At the effective time of the
Bank Merger, the separate existence of the Bank will terminate. Parent Bank will be the surviving bank and will continue its existence
under Applicable Law. The Bank Merger shall be accomplished pursuant to the bank merger agreement in form attached hereto as <U>Exhibit&nbsp;B</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_003"></A>1.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effective Time</U><FONT STYLE="font-size: 10pt"><I>.</I> As of the Closing, the Parties will cause the articles of merger (the
&#8220;<U>Articles of Merger</U>&#8221;) to be executed and filed with the (a) Secretary of State of the State of Missouri (the &#8220;<U>MO
SOS</U>&#8221;) as provided in the GBCLM, and (b) Secretary of State of the State of Delaware (the &#8220;<U>DE SOS</U>&#8221;) as provided
in the DLLCA. The Merger shall become effective on the date and time (referred to as the &#8220;<U>Effective Time</U>&#8221;) at which
the Articles of Merger is duly filed with the MO SOS and DE SOS, or at such other date and time as is agreed among the Parties and specified
in the Articles of Merger.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_004"></A>1.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effects of the Merger</U><FONT STYLE="font-size: 10pt"><I>.</I> At and as of the Effective Time:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>as a result of the Merger, the certificate of formation and operating agreement of Merger Sub shall be the certificate of formation
and operating agreement of the Surviving Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the officers of the Surviving Company shall be the officers of Merger Sub serving immediately prior to the Effective Time, who
shall continue in office for the terms provided in the operating agreement of the Surviving Company and until their successors are duly
elected or appointed and qualified; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Merger shall have the effects set forth in the applicable provisions of the GBCLM and DLLCA and, without limiting the generality
of the foregoing, at the Effective Time, all of the property, rights, privileges, powers and franchises of the Company shall be vested
in the Surviving Company, and all debts, liabilities and duties of the Company shall become the debts, liabilities and duties of Merger
Sub.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_005"></A>1.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Merger Consideration; Conversion of Shares</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At the Effective Time, by virtue of the Merger and without any action on the part of the holder thereof, each share of common stock
of the Company, $10.00 par value per share, issued and outstanding immediately prior to the Effective Time (&#8220;<U>Company Common Stock</U>&#8221;),
other than Excluded Shares and Dissenting Shares, shall be converted into and become the right to receive the following consideration
(and thereupon shall no longer be outstanding and shall automatically be cancelled and retired and shall cease to exist and shall thereafter
represent only the right to receive, upon surrender of such certificate in accordance with <U>Section 1.9(b)</U>, the following consideration)
<FONT STYLE="background-color: white">(the consideration described in clauses (i)&nbsp;and (ii) below, subject to adjustment in accordance
with <U>Section&nbsp;1.4(d)</U>, </FONT>the &#8220;<U>Merger Consideration</U><FONT STYLE="background-color: white">&#8221;)</FONT>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>$352.26 per share in cash without interest (such per share amount is hereinafter referred to as the &#8220;<U>Cash Consideration</U>&#8221;);
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>55.1061 (the &#8220;<U>Exchange Ratio</U>&#8221;) validly issued, fully paid and nonassessable shares of common stock, par value
$4.00 per share, of Parent (the &#8220;<U>Parent Common Stock</U>&#8221;) (such per share amount, together with any cash in lieu of fractional
shares of Parent Common Stock to be paid pursuant to <U>Section 1.8</U>, is hereinafter referred to as the &#8220;<U>Parent Stock Consideration</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The holders of any certificates of Company Common Stock (&#8220;<U>Company Stock Certificates</U>&#8221;) previously evidencing
such shares of Company Common Stock outstanding immediately prior to the Effective Time shall cease to have any rights with respect thereto
except as otherwise provided in this Agreement or by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If, between the date of this Agreement and the Effective Time, shares of Parent Common Stock shall be changed into a different
number of shares or a different class of shares by reason of any reclassification, recapitalization, split-up, combination, exchange of
shares or readjustment, or if a dividend in the form of Parent Common Stock shall be declared with a record date within such period, then
the Exchange Ratio will be appropriately and proportionally adjusted so as to provide the holders of Company Common Stock with the same
economic effect as contemplated by this Agreement prior to such event and as so adjusted shall, from and after the date of such event,
be the Exchange Ratio.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event the Closing Balance Sheet reflects Consolidated Shareholders&#8217; Equity less than $75,411,189 (the &#8220;<U>Minimum
Adjusted Net Worth</U>&#8221;), for every $50,000 shortfall thereof (and not, for the avoidance of doubt, any portion thereof), the Cash
Consideration shall be reduced by $1.21. If the Closing Balance Sheet reflects Consolidated Shareholders&#8217; Equity equal to or greater
than the Minimum Adjusted Net Worth, then there will be no adjustment to the Merger Consideration. As used herein, the term &#8220;<U>Consolidated
Shareholders&#8217; Equity</U> &#8221; shall mean the consolidated shareholders&#8217; equity of the Company reflected on the Closing
Balance Sheet; <U>provided</U>, <U>however</U>, that the following amounts shall be disregarded, and not be taken into account or otherwise
reduce such consolidated shareholders&#8217; equity: (i)&nbsp;any changes to the valuation of the Company&#8217;s or any Company Subsidiary&#8217;s
investment portfolio attributed to ASC 320, whether upward or downward, from June 30, 2021 until the date of the Closing Balance Sheet,
(ii) the aggregate fees and expenses of attorneys, accountants, consultants, financial advisors and other professional advisors incurred
by the Company or any Company Subsidiary in connection with this Agreement or the transactions contemplated hereby, (iii) any amounts
paid or payable to any director, officer or employee of the Company or any Company Subsidiary under any contract, severance arrangement,
benefit plan or employment practice of the Company or any Company Subsidiary and all other payroll and non-payroll related costs and expenses
incurred by the Company or any Company Subsidiary in connection with this Agreement or the transactions contemplated hereby, (iv) costs
associated with the termination of the Company&#8217;s employee benefit plans, (v) any costs associated with the termination of the Company&#8217;s
and Company Subsidiaries&#8217; data processing agreement, (vi)&nbsp;any negative provisions for loan losses taken by the Company or any
Company Subsidiary from the date of this Agreement until the date of the Closing Balance Sheet, and (vii)&nbsp;any other expenses incurred
solely in connection with the transactions contemplated hereby, in each case incurred or to be incurred by the Company or any Company
Subsidiary through the Effective Time in connection with this Agreement and the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding anything to the contrary contained in this Agreement, before the Effective Time, the Parties may mutually agree to change
the method of effecting the Merger if and to the extent that they deem such a change to be desirable; <U>provided</U>, that (i)&nbsp;any
such change shall not affect the U.S. federal income tax consequences of the Merger to holders of Company Common Stock, and (ii)&nbsp;no
such change shall&nbsp;alter or change the amount or kind of the consideration to be issued to holders of Company Common Stock as consideration
in the Merger or </FONT>require submission to or approval of the Company's shareholders after the Merger has been approved by the Company&#8217;s
shareholders. If the Parties agree to make such a change, they shall execute appropriate documents to reflect the change.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_006"></A>1.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Company Options</U><FONT STYLE="font-size: 10pt">. As of the Effective Time, each option to purchase shares of Company Common
Stock or other right to purchase Company Common Stock under any Company Stock Plan (each a &#8220;<U>Company Option</U>&#8221;), to the
extent it is outstanding and unexercised immediately prior thereto, shall become fully vested as of the Effective Time and, subject to
the delivery by each holder of a Company Option of a release and consent agreement in form and substance reasonably satisfactory to the
Company, shall by virtue of the Merger and without any further action on the part of any holder of any Company Option be automatically
cancelled and the holder thereof will receive, as soon as reasonably practicable following the Effective Time a cash payment (without
interest) with respect thereto equal to the sum of: (a) the Cash Consideration that would otherwise be payable for each share of Company
Common Stock issuable had each such Company Option been exercised immediately prior to the Effective Time; plus (b) the Closing Parent
Common Stock Price multiplied by the Parent Stock Consideration that would otherwise be payable for each share of Company Common Stock
issuable had each such Company Option been exercised immediately prior to the Effective Time; minus (c) the exercise price per share of
Company Common Stock pursuant to each such Company Option (collectively, the &#8220;<U>Option Consideration</U>&#8221;). The Option Consideration
shall in all cases be paid in cash.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_007"></A>1.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Cancellation of Treasury Shares</U><FONT STYLE="font-size: 10pt">. At the Effective Time, each share of Company Common Stock
held as treasury stock or otherwise held by the Company, if any, immediately prior to the Effective Time shall automatically be cancelled
and retired and cease to exist, and no Merger Consideration shall be exchanged therefor (collectively, the &#8220;<U>Excluded Shares</U>&#8221;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_008"></A>1.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Exchange of Certificates</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>At or prior to the Effective Time, Parent shall authorize the issuance of and shall make available to Computershare Trust Company,
N.A., Parent&#8217;s exchange agent (the &#8220;<U>Exchange Agent</U>&#8221;), for the benefit of the holders of Company Stock Certificates
for exchange in accordance with this <U>ARTICLE I</U>, (i) a sufficient number of shares of Parent Common Stock, to be issued by book-entry
transfer, for payment of the Parent Stock Consideration pursuant to <U>Section 1.4(a)(ii)</U>, (ii) sufficient cash for payment of the
Cash Consideration pursuant to <U>Section 1.4(a)(i)</U> and (iii) sufficient cash for payment of cash in lieu of any fractional shares
of Parent Common Stock in accordance with <U>Section 1.8</U> Such amount of cash and shares of Parent Common Stock, together with any
dividends or distributions with respect thereto paid after the Effective Time, are referred to as the &#8220;<U>Conversion Fund</U>.&#8221;
Parent shall be solely responsible for the payment of any fees and expenses of the Exchange Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Following the Effective Time, and upon proper surrender of a Company Stock Certificate for exchange to the Exchange Agent, together
with a properly completed letter of transmittal, duly executed, the holder of such Company Stock Certificate shall be entitled to receive
in exchange therefor Cash Consideration and Parent Stock Consideration deliverable in respect of the shares of Company Common Stock represented
by such Company Stock Certificate; thereupon such Company Stock Certificate shall forthwith be cancelled. No interest will be paid or
accrued on the Merger Consideration deliverable upon surrender of a Company Stock Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>After the Effective Time, there shall be no transfers on the stock transfer books of the Company of the shares of Company Common
Stock that were issued and outstanding immediately prior to the Effective Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No dividends or other distributions declared with respect to Parent Common Stock and payable to the holders of record thereof after
the Effective Time shall be paid to the holder of any unsurrendered Company Stock Certificate until the holder thereof shall surrender
such Company Stock Certificate in accordance with this <U>ARTICLE I</U>. Promptly after the surrender of a Company Stock Certificate in
accordance with this <U>ARTICLE I</U>, the record holder thereof shall be entitled to receive any such dividends or other distributions,
without interest thereon, which theretofore had become payable with respect to shares of Parent Common Stock into which the shares of
Company Common Stock represented by such Company Stock Certificate were converted at the Effective Time pursuant to <U>Section 1.4</U>.
No holder of an unsurrendered Company Stock Certificate shall be entitled, until the surrender of such Company Stock Certificate, to vote
the shares of Parent Common Stock into which such holder&#8217;s Company Common Stock shall have been converted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any portion of the Conversion Fund that remains unclaimed by the shareholders of the Company twelve months after the Effective
Time shall be paid to the Surviving Company, or its successors in interest. Any shareholders of the Company who have not theretofore complied
with this <U>ARTICLE I</U> shall thereafter look only to the Surviving Company, or its successors in interest, for the issuance of the
Cash Consideration, the payment of the Parent Stock Consideration and the payment of cash in lieu of any fractional shares deliverable
in respect of such shareholders&#8217; shares of Company Common Stock, as well as any accrued and unpaid dividends or distributions on
such Parent Stock Consideration. Notwithstanding the foregoing, none of Parent, the Surviving Company, the Exchange Agent or any other
Person shall be liable to any former holder of shares of Company Common Stock for any amount delivered in good faith to a public official
pursuant to applicable abandoned property, escheat or similar laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In the event any Company Stock Certificate shall have been lost, stolen or destroyed, upon the making of an affidavit of that fact
by the Person claiming such Company Stock Certificate to be lost, stolen or destroyed and the posting by such Person of a bond in such
amount as the Exchange Agent may determine is reasonably necessary as indemnity against any claim that may be made against it with respect
to such Company Stock Certificate, the Exchange Agent will issue in exchange for such lost, stolen or destroyed Company Stock Certificate,
and in accordance with this <U>ARTICLE I</U>, the Cash Consideration or the Parent Stock Consideration and cash in lieu of any fractional
shares deliverable in respect thereof pursuant to this Agreement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_009"></A>1.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Fractional Shares</U><FONT STYLE="font-size: 10pt"><I>.</I> Notwithstanding anything to the contrary contained in this Agreement,
no fractional shares of Parent Common Stock shall be issued as Parent Stock Consideration in the Merger. Each holder of shares of Company
Common Stock who would otherwise be entitled to receive a fractional share of Parent Common Stock pursuant to this <U>ARTICLE I</U> shall
instead be entitled to receive an amount in cash (without interest) rounded to the nearest whole cent, determined by multiplying the Closing
Parent Common Stock Price by the fractional share of Parent Common Stock to which such former holder would otherwise be entitled. &#8220;<U>Closing
Parent Common Stock Price</U>&#8221; means the weighted average of the daily closing sales prices of a share of Parent Common Stock as
reported on the NASDAQ Global Market for the ten consecutive trading days immediately preceding the Closing Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_010"></A>1.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Dissenting Shares</U><FONT STYLE="font-size: 10pt">. Notwithstanding anything to the contrary contained in this Agreement, shares
of Company Common Stock held by a holder who has made a demand for appraisal of such shares in accordance with the GBCLM (any such shares
being referred to as &#8220;<U>Dissenting Shares</U>&#8221; until such time as such holder fails to perfect or otherwise loses such holder&#8217;s
appraisal rights under the GBCLM with respect to such shares) shall not be converted into or represent the right to receive the Merger
Consideration pursuant to this Agreement, but shall be entitled only to such rights as are granted by the GBCLM to a holder of Dissenting
Shares. At the Effective Time, the Dissenting Shares shall no longer be outstanding and shall automatically be canceled and shall cease
to exist, and each holder of Dissenting Shares shall cease to have any rights with respect thereto, except the right to receive the fair
value of such Dissenting Shares in accordance with the provisions of the GBCLM. If any Dissenting Shares shall lose their status as such
(through failure to perfect appraisal rights under the GBCLM or otherwise), then, as of the later of the Effective Time or the date of
loss of such status, such shares shall automatically be converted into and shall represent only the right to receive the Merger Consideration,
without interest thereon, in exchange for each such share, upon surrender of the Company Stock Certificates that formerly evidenced such
Dissenting Shares in the manner set forth in <U>Section 1.7</U>. The Company shall give Parent (a)&nbsp;prompt notice of any written demands
for payment of fair value of any shares of Company Common Stock, attempted withdrawals of such demands and any other instruments served
pursuant to the GBCLM and received by the Company relating to shareholders&#8217; dissenters&#8217; rights, and (b)&nbsp;the opportunity
to participate in all negotiations and proceedings with respect to demands under the GBCLM consistent with the obligations of the Company
thereunder. The Company shall not, except with the prior written consent of Parent, (i)&nbsp;make any payment with respect to such demand,
(ii)&nbsp;offer to settle or settle any demand for payment of fair value or (iii)&nbsp;waive any failure to timely deliver a written demand
for payment of fair value or timely take any other action to perfect payment of fair value rights in accordance with the GBCLM.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_011"></A>1.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Withholding</U><FONT STYLE="font-size: 10pt">. Parent or the Exchange Agent will be entitled to deduct and withhold from the
Merger Consideration, the Option Consideration and any other amounts payable pursuant to this Agreement or the transactions contemplated
hereby to any holder of Company Common Stock or Company Options such amounts as the Company, Parent, or any affiliate thereof, or the
Exchange Agent are required to deduct and withhold with respect to the making of such payment under the Code, or any applicable provision
of U.S. federal, state, local or non-U.S. tax law. Parent or the Exchange Agent shall make a good faith effort to provide notice to the
Company of its intent to withhold pursuant to this Section 1.10 at least five days in advance of doing so. To the extent that such amounts
are properly withheld by Parent or the Exchange Agent and paid over to the appropriate taxing authority, such withheld amounts will be
treated for all purposes of this Agreement as having been paid to the holder of the Company Common Stock or Company Option in respect
of whom such deduction and withholding were made by Parent or the Exchange Agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_012"></A>1.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Closing</U><FONT STYLE="font-size: 10pt">. The consummation of the transactions contemplated by this Agreement shall take place
at a closing (the &#8220;<U>Closing</U>&#8221;) to be held on the fifth Business Day following the date on which all of the conditions
set forth in <U>ARTICLE VI</U> and <U>ARTICLE VII</U> have been satisfied, or waived (other than those conditions that by their nature
can only be satisfied at the Closing, but subject to the satisfaction or waiver thereof), or on such other date as the Parties may mutually
agree (the &#8220;<U>Closing Date</U>&#8221;). The Closing shall take place at 10:00 a.m., local time, on the Closing Date at the offices
of Schiff Hardin LLP, 233 S. Wacker Drive, Suite 7100, Chicago, Illinois, or at such other place and time upon which the Parties may agree.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="appa_013"></A><B>ARTICLE II<BR>
REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Except as disclosed in the disclosure schedule delivered
by the Company to Parent and Merger Sub concurrently herewith (the &#8220;<U>Company Disclosure Schedule</U>&#8221;) (<U>provided</U>,
that any disclosures made with respect to a section of this ARTICLE II shall be deemed to qualify any other section of this ARTICLE II
specifically referenced or cross-referenced), the Company hereby represents and warrants to Parent as of the date hereof as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_014"></A>2.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Organization</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company is duly registered as a bank holding company under the Bank Holding Company Act of 1956, as amended (the &#8220;<U>BHCA</U>&#8221;),
is a corporation duly organized, validly existing and in good standing under the laws of the State of Missouri, and has the corporate
power and authority to own its properties and to carry on its business as presently conducted. The Company is duly qualified and in good
standing as a foreign corporation in each other jurisdiction where the location and character of its properties and the business conducted
by it require such qualification, except where the failure to be so qualified would not have a Material Adverse Effect on the Company.
As used in this Agreement, &#8220;<U>Material Adverse Effect</U>&#8221; shall mean changes, developments, occurrences or events (i) having
a material adverse effect on the financial condition, assets, liabilities, business or results of operations of such Party or its subsidiaries,
taken as a whole, or (ii) that materially impair the ability of such Party to perform its obligations under this Agreement or to consummate
the transactions contemplated hereby on a timely basis; <U>provided</U>, <U>however</U>, that &#8220;Material Adverse Effect&#8221; shall
not be deemed to include the effects of (A) changes after the date hereof in general United States or global business, political, economic
or market (including capital or financial markets) conditions, (B) any outbreak, escalation or worsening of hostilities, declared or undeclared
acts of war, sabotage, military action or terrorism, (C) changes or proposed changes after the date hereof in United States generally
accepted accounting principles (&#8220;<U>GAAP</U>&#8221;) or authoritative interpretations thereof, (D) changes or proposed changes after
the date hereof in any federal, state, local, municipal, foreign, international, multinational or other order, constitution, law, ordinance,
regulation, rule, policy statement, directive, statute or treaty (&#8220;<U>Applicable Law</U>&#8221;), (E) the negotiation, execution
or announcement of the Merger or this Agreement, (F) any actions by the Parties as required or contemplated by this Agreement or taken
with the consent of the other Parties, and (G) any declaration by an applicable Governmental Authority of any national or global epidemic,
pandemic or disease outbreak (including the COVID-19 virus), or the material worsening of such conditions threatened or existing as of
the date of this Agreement; <U>provided</U>, <U>further</U>, that clauses (A), (B), (C), (D), and (G) shall not apply to the extent that
such changes, developments, occurrences or events affect the Company or the Company Subsidiaries, as applicable, in a disproportionate
manner relative to participants operating in the same industries in which the Company and the Company Subsidiaries operate.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Jefferson Bank and Trust Company is a Missouri chartered bank, duly chartered and organized, validly existing and currently authorized
to transact the business of banking under the laws of the State of Missouri (the &#8220;<U>Bank</U>&#8221;), and has the requisite power
and authority to own its properties and to carry on its business as presently conducted. The Bank is a wholly owned subsidiary of the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Pine Valley Properties, LLC, (&#8220;<U>Pine Valley</U>&#8221;) is a limited liability company duly organized, validly existing
and in good standing under the laws of the State of Missouri, has the requisite limited liability company power and authority to own its
properties and to carry on its business as presently conducted, and is a wholly owned subsidiary of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>2301 Market Street Inc. (&#8220;<U>2301 Market</U>&#8221;) is a corporation duly incorporated, validly existing and in good standing
under the laws of the State of Missouri, has the requisite corporate power and authority to own its properties and to carry on its business
as presently conducted, and is a wholly owned subsidiary of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Delta Redevelopment Corporation (&#8220;<U>Delta Redevelopment</U>&#8221;) and, together with the Bank, Pine Valley, and 2301 Market,
the &#8220;<U>Company Subsidiaries</U>&#8221;) is a corporation duly incorporated, validly existing and in good standing under the laws
of the State of Missouri, has the requisite corporate power and authority to own its properties and to carry on its business as presently
conducted, and is a wholly owned subsidiary of the Bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Other than (i) the Company Subsidiaries, (ii) investments in Investment Securities and (iii) securities owned in a fiduciary capacity,
and except as otherwise set forth on <U>Schedule 2.1(f)</U>, neither the Company nor any Company Subsidiary owns, directly or indirectly,
any voting stock, equity securities or membership, partnership, joint venture or similar ownership interest in any individual, corporation,
association, partnership, trust, limited liability company, unincorporated organization or other entity or group (any such individual
or entity, a &#8220;<U>Person</U>&#8221;). Neither the Company nor any Company Subsidiary has any outstanding contractual obligations
to provide funds to, or to make any investment (in the form of a loan, capital contribution or otherwise) in, any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_015"></A>2.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Organizational Documents; Minutes and Stock Records</U><FONT STYLE="font-size: 10pt"><I>. </I>The Company has furnished Parent
with copies of the articles of incorporation and by-laws, or similar organizational documents, of the Company and each of the Company
Subsidiaries, in each case as amended to the date hereof, and with such other documents as requested by Parent relating to the authority
of the Company and the Company Subsidiaries to conduct their respective businesses. All such documents are complete and correct. The stock
registers and minute books of the Company and each Company Subsidiary are each complete, correct and accurately reflect, in each case
in all material respects, all meetings, consents, and other actions of the organizers, incorporators, shareholders, board of directors,
and committees of the boards of directors of the Company and each Company Subsidiary, respectively, and all transactions in each such
entity&#8217;s capital stock or equity ownership occurring since the applicable initial date of organization, incorporation or formation
of the Company and each Company Subsidiary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_016"></A>2.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Capitalization</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>The Company</U>. The authorized capital stock of the Company consists of (i) 100,000 shares of Company Common Stock, $10.00
par value per share, of which 41,420.3 shares are issued and outstanding as of the date of this Agreement and 0 shares are held in treasury
as of the date of this Agreement, and (ii) 30,000 shares of preferred stock, $0.01 par value per share, of which zero shares are issued
and outstanding as of the date of this Agreement. The issued and outstanding shares of Company Common Stock have been duly and validly
authorized and issued and are fully paid and non-assessable. None of the shares of Company Common Stock are subject to any preferences,
qualifications, limitations, restrictions or special or relative rights under the Company&#8217;s articles of incorporation as in effect
as of the date of this Agreement. Except pursuant to any exercise provisions of any Company Options, there are no options, warrants, agreements,
contracts, or other rights in existence to purchase, acquire or receive from the Company any shares of capital stock of the Company, whether
now or hereafter authorized or issued. Except for the Voting Agreement to be entered into concurrently with this Agreement, there are
no voting trusts, voting agreements, proxies or other agreements, instruments or undertakings with respect to the voting of any interests
in the Company. <U>Schedule 2.3(a)</U> sets forth a true, complete and correct list of the aggregate number of shares of Company Common
Stock issuable upon the exercise of each stock option granted under the Company Stock Plans and the exercise price for each such stock
option.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>The Company Subsidiaries</U>. The authorized, issued and outstanding equity interests of each Company Subsidiary is set forth
on <U>Schedule 2.3(b)</U>, and all of such issued and outstanding equity interests are owned by the Company or the Bank. The issued and
outstanding equity interests of each Company Subsidiary have been duly and validly authorized and issued and are fully paid and non-assessable
and owned by the Company or the Bank. There are no options, agreements, contracts, or other rights in existence to purchase or acquire
from any Company Subsidiary any equity interest of any Company Subsidiary, whether now or hereafter authorized or issued. Other than any
Investment Securities held by the Bank, and the membership interests of each subsidiary owned by the Bank, no Company Subsidiary owns,
whether directly or indirectly, any voting stock, equity securities or membership, partnership, joint venture or similar ownership interest
in any corporation, association, partnership, limited liability company or other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_017"></A>2.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authorization; No Violation</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company has full power and authority to execute and deliver this Agreement and to consummate the transactions contemplated
hereby. The execution and delivery of this Agreement and the performance of the Company&#8217;s obligations hereunder have been duly and
validly authorized unanimously by the Board of Directors of the Company (the &#8220;<U>Company Board</U>&#8221;), and do not violate or
conflict with the Company&#8217;s articles of incorporation, by-laws, the GBCLM, or any Applicable Law, court order or decree to which
the Company or a Company Subsidiary is a party or subject, or by which the Company or a Company Subsidiary, or any of their respective
properties are bound, and no other action on the part of the Company or a Company Subsidiary is necessary to authorize the execution and
delivery by the Company of this Agreement and the consummation by it of the transactions contemplated hereby, other than the requisite
approval of this Agreement and the Merger by the shareholders of the Company (the &#8220;<U>Company Shareholder Approval</U>&#8221;).
This Agreement, when executed and delivered, and subject to the consents and regulatory approvals described in <U>Section 2.5</U>, will
be a valid, binding and enforceable obligation of the Company, subject to applicable bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting creditors generally and to general principles of equity. The only votes of holders of any class or series of
Company capital stock necessary to approve this Agreement and the Merger are the holders of at least two thirds of the outstanding shares
of Company Common Stock providing such approval at a special meeting of the Company&#8217;s shareholders. No state takeover statute or
similar statute or regulation applies to this Agreement, the Voting Agreement or any of the transactions contemplated thereby and hereby.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to receipt of the consents or approvals set forth in <U>Schedule 2.5</U>, the execution and delivery of this Agreement
and the performance of the Company&#8217;s obligations hereunder do not and will not result in any default or give rise to any right of
termination, cancellation or acceleration under any Company Material Contract, except for such rights of termination, cancellation or
acceleration that, either individually or in the aggregate, would not <FONT STYLE="font-family: Times New Roman, Times, Serif">reasonably
be expected to (i) materially interfere with the Ordinary Course of Business conducted by the Company, any Company Subsidiary or the Surviving
</FONT>Company <FONT STYLE="font-family: Times New Roman, Times, Serif">or (ii) have a Material Adverse Effect </FONT>on the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_018"></A>2.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Consents and Approvals</U><FONT STYLE="font-size: 10pt"><I>.</I> No consents or approvals of, or filings or registrations with,
any court, administrative agency or commission or other governmental authority or instrumentality (each, a &#8220;<U>Governmental Authority</U>&#8221;)
or with any third party are necessary in connection with the execution and delivery by the Company of this Agreement and the consummation
by the Company of the Merger, except for (a) those third-party consents, approvals, filings or registrations set forth on <U>Schedule
2.5</U>, (b) the Federal Reserve Application and the MO DOF Application, (c) the filing of the Articles of Merger with the MO SOS under
the GBCLM, (d) the filing of the Certificate of Merger with the DE SOS under the DLLCA, (e) the Company Shareholder Approval, and (f)
the filing by Parent with the Securities and Exchange Commission (the &#8220;<U>Commission</U>&#8221;) of a registration statement on
Form S-4 or other applicable form under the Securities Act of 1933, as amended (the &#8220;<U>Securities Act</U>&#8221;), covering the
shares of Parent Common Stock to be issued pursuant to this Agreement, which shall include the Proxy Statement (the &#8220;<U>Registration
Statement</U>&#8221;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_019"></A>2.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Financial Statements</U><FONT STYLE="font-size: 10pt"><I>. </I><U>Schedule&nbsp;2.6</U> sets forth true and complete copies
of the following financial statements (collectively, the &#8220;<U>Company Financial Statements</U>&#8221;): (a)&nbsp;the consolidated
balance sheets of the Company and the Company Subsidiaries as of December&nbsp;31, 2018, 2019, and 2020, and the related statements of
income, changes in shareholders&#8217; equity and cash flows for the fiscal years then ended; and (b)&nbsp;the consolidated interim balance
sheet of the Company and the Company Subsidiaries as of June 30, 2021 (the &#8220;<U>Interim Balance Sheet</U>&#8221;) and the related
statements of income and changes in shareholders&#8217; equity for the six month period then ended (together with the Interim Balance
Sheet, the &#8220;<U>Interim Financial Statements</U>&#8221;). The Company Financial Statements are complete and correct and have been
prepared in conformance with GAAP applied on a consistent basis throughout the periods involved. Each balance sheet (including any related
notes) included in the Company Financial Statements presents fairly the consolidated financial position of the Company and the Company
Subsidiaries as of the date thereof, and each income statement (including any related notes) and statement of cash flow included in the
Company Financial Statements presents fairly the consolidated results of operations and cash flow, respectively, of the Company and the
Company Subsidiaries for the period set forth therein; <U>provided</U>, <U>however</U>, that the Interim Financial Statements contain
all adjustments necessary for a fair presentation, subject to normal, recurring year-end adjustments (which adjustments will not be, individually
or in the aggregate, material), and lack footnotes. The books, records and accounts of the Company and each Company Subsidiary accurately
and fairly reflect, in reasonable detail, all transactions and all items of income and expense, assets and liabilities and accruals relating
to the Company and the Company Subsidiaries, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_020"></A>2.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Undisclosed Liabilities</U><FONT STYLE="font-size: 10pt"><I>.</I> Neither the Company nor any Company Subsidiary has any
liabilities, whether accrued, absolute, contingent, or otherwise, existing or arising out of any transaction or state of facts existing
on or prior to the date hereof, except (a) as and to the extent disclosed, reflected or reserved against in the Company Financial Statements,
(b) as and to the extent arising under contracts, commitments, transactions, or circumstances identified in the Schedules provided for
herein, excluding any liabilities for breaches thereunder by the Company or a Company Subsidiary, and (c) liabilities, not material in
the aggregate and incurred in the Ordinary Course of Business, which, under GAAP, would not be required to be reflected on a balance sheet
prepared as of the date hereof. An action taken in the &#8220;<U>Ordinary Course of Business</U>&#8221; shall mean an action taken in
the ordinary course of business of the Company and each Company Subsidiary, as applicable, in conformity with past custom and practice
(including with respect to quantity and frequency) and where for such action to be taken, no separate authorization by the Company Board,
the board of directors of the Bank or managers of any subsidiary, as applicable, is required. Any liabilities incurred in connection with
litigation or judicial, administrative or arbitration proceedings or claims against the Company or any Company Subsidiary shall not be
deemed to be incurred in the Ordinary Course of Business. </FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_021"></A>2.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Loans; Loan Loss Reserves</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each outstanding loan, loan agreement, note, lease or other borrowing agreement (including any overdraft protection extensions
of credit), any participation therein and any guaranty, renewal or extension thereof (collectively, &#8220;<U>Loans</U>&#8221;) reflected
on the books and records of the Bank is evidenced by appropriate and sufficient documentation and constitutes the legal, valid and binding
obligation of the obligor named therein, enforceable in accordance with its terms, except to the extent such enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors&#8217; rights
and remedies generally from time to time in effect and by Applicable Law which may affect the availability of equitable remedies. No obligor
named in any Loan has provided notice (whether written or, to the Knowledge of the Company or any Company Subsidiary, oral) to the Company
or any Company Subsidiary that such obligor intends to attempt to avoid the enforceability of any term of any Loan under any such laws
or equitable remedies, and no Loan is subject to any valid defense, set-off, or counterclaim that has been threatened or asserted in writing
(or, to the Knowledge of the Company or any Company Subsidiary, oral) with respect to such Loan. All Loans that are secured, as evidenced
by the appropriate and sufficient ancillary security documents, are so secured by valid and enforceable liens, except to the extent such
validity or enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
the enforcement of creditors&#8217; rights and remedies generally from time to time in effect and by Applicable Law which may affect the
availability of equitable remedies. Neither the Company nor any Company Subsidiary has entered into any loan repurchase agreements. There
has been no default on, or forgiveness or waiver of, in whole or in part, any Loan made to an executive officer or director of the Company
or any Company Subsidiary or an entity controlled by an executive officer or director during the three&nbsp;years immediately preceding
the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The reserves and allowances for loan and lease losses shown on each of the balance sheets contained in the Company Financial Statements
are adequate in the judgment of management, and consistent with the Bank&#8217;s internal policies, applicable regulatory standards and
under GAAP, to provide for losses, net of recoveries relating to loans and leases previously charged off, on loans and leases outstanding
(including accrued interest receivable) as of the applicable date of such balance sheet. The aggregate loan balances of the Bank in excess
of such reserves, in each case as shown on Company Financial Statements, are, to the Knowledge of the Company and any Company Subsidiary,
collectible in accordance with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_022"></A>2.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Properties and Assets</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Real Property</U>. <U>Schedule 2.9(a)</U> sets forth a complete and correct description of all real property owned or leased
by the Company or a Company Subsidiary or in which the Company or a Company Subsidiary has an interest (other than as a mortgagee) (the
&#8220;<U>Real Property</U>&#8221;). No real property or improvements are carried on the Bank&#8217;s or any subsidiary&#8217;s books
and records as Other Real Estate Owned. The Company and the Company Subsidiaries own, or have a valid right to use or a leasehold interest
in, all Real Property used by them in the conduct of their respective businesses as such businesses are presently conducted. The ownership
or leasehold interest of the Company or the Company Subsidiaries in such Real Property is not subject to any mortgage, pledge, lien, option,
conditional sale agreement, encumbrance, security interest, title exceptions or restrictions or claims or charges of any kind (collectively,
&#8220;<U>Encumbrances</U>&#8221;), except for Permitted Encumbrances. As used in this Agreement, &#8220;<U>Permitted Encumbrances</U>&#8221;
shall mean (i) Encumbrances arising under conditional sales contracts and equipment leases with third parties under which the Company
or a Company Subsidiary is not delinquent or in default, (ii) carriers&#8217;, workers&#8217;, repairers&#8217;, materialmen&#8217;s,
warehousemen liens&#8217; and similar Encumbrances incurred in the Ordinary Course of Business, (iii) Encumbrances for taxes not yet due
and payable or that are being contested in good faith and for which proper reserves have been established and reflected on the Company
Financial Statements, (iv) minor exceptions or defects in title to real property or recorded easements, rights of way, building or use
restrictions, covenants or conditions that in each case do not materially impair the intended use thereof, (v) zoning and similar restrictions
on the use of real property, and (vi) in the case of any leased assets, (A) the rights of any lessor under the applicable lease agreement
or any Encumbrance granted by any such lessor and (B) any statutory lien for amounts not yet due and payable, or that are being contested
in good faith and for which proper reserves have been established and reflected on the Company Financial Statements. All material Licenses
required for the lawful use and occupancy of any real property by the Company and the Company Subsidiaries, as the case may be, have been
obtained and are in full force and effect. Neither the Company nor a Company Subsidiary is the lessor or lessee of any real property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Personal Property; Sufficiency of Assets</U>. <U>Schedule 2.9(b)</U> sets forth a complete and correct description of all tangible
personal property owned by the Company or a Company Subsidiary, or used by the Company or a Company Subsidiary and having book value reflected
in the Company Financial Statements. The Company or a Company Subsidiary, as applicable, has good, valid and insurable title to, or a
valid leasehold interest in, all tangible and intangible assets used, intended or required for use by the Company or a Company Subsidiary,
as applicable, in the conduct of their businesses, free and clear of any Encumbrances, except for Permitted Encumbrances, and all such
tangible personal property is in good working condition and repair, normal wear and tear excepted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_023"></A>2.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Material Contracts</U><FONT STYLE="font-size: 10pt"><I>.</I> Except for Contracts evidencing Company Loans made by the Bank
in the Ordinary Course of Business, <U>Schedule 2.10</U> lists all Material Contracts, true and complete copies of which have been delivered
to Parent. &#8220;<U>Material Contracts</U>&#8221; means the following under which the Company or a Company Subsidiary is obligated on
the date hereof (whether written or oral):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all agreements for consulting, professional, advisory, and other professional services, including engagement letters, and including
contracts pursuant to which the Company or a Company Subsidiary performs services for others, in each case exceeding $100,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any leases for real property for which the Company or a Company Subsidiary is a tenant, and any leases of personal property, in
each case exceeding $100,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any contracts, commitments and agreements for the acquisition, development or disposition of real or personal property, other than
conditional sales contracts and security agreements whereunder total future payments are, in each instance, less than $100,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all contracts relating to the employment, engagement, compensation or termination of directors, officers, employees, consultants
or agents of the Company or a Company Subsidiary, and all pension, retirement, profit sharing, stock option, stock purchase, stock appreciation,
insurance or similar plans or arrangements for the benefit of any employees, officers or directors of the Company or a Company Subsidiary,
including all Benefit Plans as defined in <U>Section 2.21</U>;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all loans, loan commitments, promissory notes, letters of credit or other financial accommodations or arrangements or evidences
of indebtedness, including modifications, waivers or amendments thereof, extended to or for the benefit of the Company or a Company Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>all agreements, contracts, mortgages, loans, deeds of trust, leases, commitments, indentures, notes, instruments and other arrangements
which are with officers or directors of the Company or a Company Subsidiary, any &#8220;affiliates&#8221; of the Company or a Company
Subsidiary within the meaning of Section 23A of the Federal Reserve Act or any record or beneficial owner of 5% or more of Company Common
Stock, or any member of the immediate family or a related interest (as such terms are defined in 12 C.F.R. &sect;215.2(m)) of any such
Person, excepting any ordinary and customary loans and deposits that comply with applicable banking regulations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any contract involving total annual future payments by the Company or a Company Subsidiary of more than $100,000 or which requires
performance by the Company or a Company Subsidiary beyond the first anniversary of the Closing Date, that by its terms does not terminate
or is not terminable by the Company or a Company Subsidiary, as applicable, without penalty within 30 days after the date of this Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>except for provisions of the articles of incorporation and by-laws of each of the Company, or the charter and by-laws of the Bank,
all contracts under which the Company or a Company Subsidiary has any obligation, direct, indirect, contingent or otherwise, to assume
or guarantee any liability or to indemnify any Person (other than in a fiduciary capacity);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any contract granting an Encumbrance upon any assets or properties of the Company or a Company Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any contracts, commitments and agreements containing covenants that in any way purport to restrict, in any material respect, the
business activity of the Company or a Company Subsidiary or limit, in any material respect, the ability of the Company or a Company Subsidiary
to engage in any line of business or to compete with any Person, but excluding any such contracts, commitments or agreements solely containing
immaterial confidentiality covenants;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any agreement providing for indemnification of any Person (other than the Company or a Company Subsidiary) with respect to liabilities
relating to any current or former business of the Company or a Company Subsidiary, or any predecessor thereof (other than contained in
agreements entered into in the Ordinary Course of Business);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>any joint venture, partnership, marketing or similar agreements with any other Person; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_024"></A>2.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Defaults</U><FONT STYLE="font-size: 10pt">. The Company and each Company Subsidiary has fulfilled and taken all action reasonably
necessary to date to enable it to fulfill, when due, all of its material obligations under all Material Contracts to which it is a party.
There are no breaches or defaults by the Company or a Company Subsidiary under any Material Contract that could give rise to a right of
termination or claim for material damages under such Material Contract, and no event has occurred that, with the lapse of time or the
election of any other party, will become such a breach or default by the Company or a Company Subsidiary. To the Knowledge of the Company,
no breach or default by any other party under any Material Contract has occurred or is threatened that will or could impair the ability
of the Company or a Company Subsidiary to enforce any of its rights under such Material Contract.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_025"></A>2.12<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Transactions with Affiliates</U><FONT STYLE="font-size: 10pt"><I>.</I> Except for ordinary course deposit and borrowing relationships
made in compliance with Applicable Law and except as set forth on <U>Schedule 2.12</U>, no executive officer or director of the Company
or any Company Subsidiary, principal shareholder, immediate family member of any of the foregoing Persons as &#8220;immediate family member&#8221;
is defined in Regulation O promulgated by the Federal Reserve, or entity that &#8220;controls&#8221; any of the foregoing Persons within
the meaning of Regulation O promulgated by the Federal Reserve has any loan, deposit account or other agreement or arrangement with the
Company or any Company Subsidiary, or any interest in any material property (whether real, personal or mixed or tangible or intangible)
used in or pertaining to the business of the Company or any Company Subsidiary. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_026"></A>2.13<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Investments</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Set forth on <U>Schedule 2.13(a)</U> is a complete and correct list and description as of July 27, 2021, of (i) all investment
and debt securities, mortgage-backed and related securities, marketable equity securities and securities purchased under agreements to
resell that are owned by the Company or a Company Subsidiary, other than, with respect to the Bank, in a fiduciary or agency capacity
(the &#8220;<U>Investment Securities</U>&#8221;) and (ii) all such Investment Securities pledged to secure obligations of the Company
or a Company Subsidiary. With respect to each Investment Security, the Company or a Company Subsidiary has good and marketable title to
all Investment Securities held by it, free and clear of all Encumbrances, except for Permitted Encumbrances. The Investment Securities
are valued on the books of the Company or a Company Subsidiary, as the case may be, in accordance with GAAP. None of the Investment Securities
is subject to any restriction, whether contractual or statutory, that materially impairs the ability of the Company or a Company Subsidiary
to dispose of such investment at any time. With respect to all material repurchase agreements to which the Company or a Company Subsidiary
is a party, the Company or the Company Subsidiary, as the case may be, has a valid, perfected first lien or security interest in the securities
or other collateral securing each such repurchase agreement, and the value of the collateral securing each such repurchase agreement equals
or exceeds the amount of the debt secured by such collateral under such agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>None of the Company or a Company Subsidiary has sold or otherwise disposed of any Investment Securities in a transaction in which
the acquirer of such Investment Securities or other Person has the right, either conditionally or absolutely, to require the Company or
a Company Subsidiary to repurchase or otherwise reacquire any such Investment Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as set forth on <U>Schedule 2.13(c)</U>, there are no interest rate swaps, caps, floors, option agreements or other
interest rate risk management arrangements to which the Company or a Company Subsidiary is bound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_027"></A>2.14<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance with Laws; Legal Proceedings</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT>The Company and each Company Subsidiary is, and at all times since January 1, 2018, has been, in compliance with all Applicable
Laws (i) that regulate or are concerned in any way with the ownership and operation of banks, their holding companies and their subsidiaries
or the business of banking or of acting as a fiduciary, including those laws and regulations relating to the investment of funds, the
taking of deposits, the lending of money, the collection of interest, the maintenance and redemption of trust preferred securities, the
extension of credit and the location and operation of banking facilities, or (ii) that otherwise relate to or affect the business or assets
of the Company or such Company Subsidiary, or the assets owned, used, occupied or managed by it, except for in each of (i) and (ii) above
where the failure to comply would not have a Material Adverse Effect on the Company and the Company Subsidiaries as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Without limiting the generality of the foregoing:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>UDAAP</U>. Neither the Company nor a Company Subsidiary has received any notice or communication from any Governmental Authority
alleging violation of, or noncompliance with, any legal requirement concerning unfair or deceptive acts or practices, including Section
5 of the Federal Trade Commission Act (15 U.S.C. &sect;&sect; 45), Regulation AA issued by the Board of Governors of the Federal Reserve
System Regulation (12 CFR 227), and the Missouri Merchandising Practice Act (Mo. Rev. Stat. &sect;&sect; 407.010 through 407.307), (each
such legal requirement and the rules promulgated thereunder, a &#8220;<U>UDAAP Law</U>&#8221;).&nbsp; Neither the Company nor a Company
Subsidiary has been cited, fined or otherwise notified of any failure by it to comply with a UDAAP Law which has not been cured or otherwise
satisfied in full.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>BSA/AML</U>. Neither the Company nor a Company Subsidiary has received any notice or communication from any Governmental Authority
alleging violation of, or noncompliance with, any legal requirement concerning bank secrecy and anti-money laundering laws or regulations,
including the Currency and Foreign Transactions Reporting Act of 1970 (also known as the Bank Secrecy Act), the Money Laundering Control
Act of 1986, the Annunzio-Wylie Anti-Money Laundering Act of 1992, the Money Laundering Suppression Act of 1994, and the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (also known as the USA PATRIOT Act) (each
such legal requirement and the rules promulgated thereunder, a &#8220;<U>BSA/AML Law</U>&#8221;).&nbsp; Neither the Company nor the Bank
has been cited, fined or otherwise notified of any failure by it to comply with a BSA/AML Law which has not been cured or otherwise satisfied
in full.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Fair Lending</U>.&nbsp;&nbsp;Neither the Company nor a Company Subsidiary has received any notice or communication from any
Governmental Authority alleging violation of, or noncompliance with, any legal requirement concerning any fair lending laws or regulations,
including the Equal Credit Opportunity Act and the Fair Housing Act (each such legal requirement and the rules promulgated thereunder,
a &#8220;<U>Fair Lending Law</U>&#8221;).&nbsp; Neither the Company nor a Company Subsidiary has been cited, fined or otherwise notified
of any failure by it to comply with a Fair Lending Law which has not been cured or otherwise satisfied in full.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the Company and the Company Subsidiaries, and each of their respective employees, holds all licenses, certificates, permits,
authorizations, franchises and rights from all appropriate federal, state or other Governmental Authorities necessary for the conduct
of its business and the ownership of its assets (collectively, &#8220;<U>Licenses</U>&#8221;), all such Licenses are in full force and
effect, and none of the Company or a Company Subsidiary, or any of their respective employees, has received any notice (whether written
or, to the Knowledge of the Company or any Company Subsidiary, oral) of any pending or threatened action by any Governmental Authority
to suspend, revoke, cancel or limit any License.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>There are no claims, actions, suits or proceedings pending or, to the Knowledge of the Company or any Company Subsidiary, threatened
or contemplated against or affecting the Company or a Company Subsidiary, at law or in equity, or before any federal, state or other Governmental
Authority or any arbitrator or arbitration panel, whether by contract or otherwise, and there is no decree, judgment or order or supervisory
agreement of any kind in existence against or restraining the Company or a Company Subsidiary from taking any action of any kind in connection
with their respective businesses. Neither the Company nor any Company Subsidiary has received from any federal, state or other Governmental
Authority any notice or threat (whether written or, to the Knowledge of the Company or any Company Subsidiary, oral) of enforcement actions,
or any allegations of violation of any law or regulation or demand or request from a Governmental Authority to modify Company policies
or procedures due to an alleged violation, concerning capital, compliance with laws or regulations, safety or soundness, fiduciary duties
or other banking or business practices that has not been resolved to the reasonable satisfaction of such Governmental Authority, and neither
the Company nor any Company Subsidiary has any reasonable basis for believing that any such notice or threat, criticism, recommendation
or suggestion not otherwise disclosed herein is contemplated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_028"></A>2.15<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Insurance</U><FONT STYLE="font-size: 10pt"><I>.</I> <U>Schedule 2.15</U> sets forth a complete and correct list of all policies
of insurance in which the Company or a Company Subsidiary is named as an insured party, which otherwise relate to or cover any assets,
properties, premises, operations or personnel of the Company or a Company Subsidiary, or which is owned or carried by the Company or a
Company Subsidiary. All such policies are legal, valid, binding, enforceable and in full force and effect as of the date hereof and, to
the extent usual and customary in the context of the business and the operations in which the Company and the Company Subsidiaries are
engaged, and will continue in effect until Closing (or if such policies are cancelled or lapse prior to Closing, renewals or replacements
thereof will be entered into in the Ordinary Course of Business). No application for any such policies included a material misstatement
or omission. All premiums and costs with respect to such policies are set forth on <U>Schedule 2.15</U> and have been paid to the extent
due. None of the Company or a Company Subsidiary is in breach or default under any such policy, and no event has occurred which, with
notice or the lapse of time, would constitute a breach or default or permit termination, modification or acceleration, under such policy.
Except as set forth on <U>Schedule 2.15</U>, no claim is currently pending under any such policy involving an amount in excess of $50,000.
All material insurable risks in respect of the business and assets of the Company and the Company Subsidiaries are covered by such insurance
policies and the types and amounts of coverage provided therein are usual and customary in the context of the business and operations
in which the Company and the Company Subsidiary are engaged. None of the Company or any Company Subsidiary has received any notice (whether
written or, to the Knowledge of the Company or any Company Subsidiary, oral) from any party of interest in or to any such policies claiming
any breach or violation of any provisions thereof, disclaiming or denying coverage thereof or canceling or threatening cancellation of
any such insurance contracts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_029"></A>2.16<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Taxes</U><FONT STYLE="font-size: 10pt">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Definitions</U>. For the purposes of this Agreement, the term &#8220;<U>Tax</U>&#8221; or, collectively, &#8220;<U>Taxes</U>&#8221;
shall mean&nbsp;(i) any and all U.S. federal, state, local and non-U.S. taxes, levies or other similar assessments of any kind whatsoever
imposed, assessed, reassessed or collected by any Governmental Authority, including all interest, penalties, fines, installments, additions
to tax or other additional amounts imposed, assessed, reassessed or collected by any Governmental Authority in respect thereof, and including
those related to, or levied on, or measured by, or referred to as, net income, gross income, income as specially defined, earnings, profits
or selected items of income, earnings or profits, gross receipts, royalty, capital, capital gain, sales, goods and services, harmonized
sales, use, value added, ad valorem, transfer, land transfer, real property, capital stock, personal property, environmental, business,
property development, occupancy, franchise, license, withholding, payroll, employment, employer health, health insurance, social services,
education, all surtaxes, unemployment or employment insurance premiums, workers compensation payments, excise, severance, stamp, premium,
escheat, or windfall profits, alternative or minimum taxes, customs duties, import and export taxes, countervail and anti-dumping, and
registration fees, whether disputed or not and whether payable directly or by withholding and whether or not requiring the filing of a
Tax Return; (ii) any liability of the Company or a Company Subsidiary for the Taxes described in clause (i) hereof arising as a result
of&nbsp;being or ceasing to be a member of a consolidated, affiliated or combined group whether pursuant to Treasury Regulation &sect;1.1502-6
(and any corresponding provision of state, local or foreign law) or otherwise; and (iii) any liability for Taxes referenced in clauses
(i) and (ii) as a transferee, successor, guarantor, by contract or by operation of Applicable Law or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Tax Returns and Audits</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the Company and the Company Subsidiaries has prepared and timely filed (taking into account all applicable extensions)
all material required U.S. federal, state, local and non-U.S. returns, elections, notices, filings, declarations, forms, claims for refund,
estimates, information statements, reports and other documents, including any amendments, schedules, attachments, supplements, appendices
and exhibits thereto (&#8220;<U>Tax Returns</U>&#8221;), with the appropriate Governmental Authority in all jurisdictions in which such
Tax Returns are required to be filed relating to any and all Taxes concerning or attributable to the Company and the Company Subsidiaries,
as applicable. Such Tax Returns have been prepared and completed in accordance with Applicable Law in all material respects. <U>Schedule
2.16(b)(i)</U> lists all of the jurisdictions in which the Company and each Company Subsidiary is required to file Tax Returns or pay
Taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the Company and the Company Subsidiaries has duly and timely paid, or caused to be duly and timely paid, all Taxes that
are due and payable by them (whether or not shown or required to be shown on any Tax Return) or made adequate provision for the payment
of all material Taxes due and payable by the Company and each of the Company Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the Company and the Company Subsidiaries has duly and timely withheld or deducted all Taxes and other amounts required
by Applicable Law to be withheld or deducted by it, including Taxes and other amounts required to be deducted or withheld by it in respect
of any amount paid or credited, or deemed to be paid or credited, by it to or for the account or benefit of any Person, including any
former or current Employees, officers or directors and any non-resident Person, and has duly and timely remitted, or will duly and timely
remit, as applicable, to the appropriate Governmental Authority such Taxes and other amounts required by Applicable Law to be remitted
by it, for all periods ending on or prior to the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>None of the Company or any Company Subsidiary has entered into any agreement or other arrangement, or executed any waiver, providing
for any extension of time, including any statute of limitations on or outstanding extension of the period for the assessment or collection
of any Tax, and none of the Company or Company Subsidiaries is a beneficiary of any such extension of time that will be outstanding and
in effect on the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No audit or other examination of any Tax Return of any of the Company and the Company Subsidiaries is in progress, nor has the
Company or any Company Subsidiary been notified in writing of any request for such an audit or other examination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>There are no liens on the assets of the Company or any Company Subsidiary relating to or attributable to Taxes, except for inchoate
Tax liens that attach by operation of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(vii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>None of the Company or any Company Subsidiary is a party to any Tax allocation or sharing agreement (other than with respect to
itself and any Company Subsidiaries). None of the Company or any Company Subsidiary is or has been a member of an affiliated group of
corporations, within the meaning of Section 1504 of the Code, or a member of a consolidated, unitary or combined Tax group filing, consolidated
or combined Tax Returns (other than, in each case, an affiliated, consolidated, unitary or combined group of which the Company is the
common parent) or otherwise has any liability for the Taxes of any Person (other than with respect to itself or any of the Company Subsidiaries).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(viii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>None of the Company or any Company Subsidiary has been at any time a &#8220;United States Real Property Holding Corporation&#8221;
within the meaning of Section 897(c)(2) of the Code.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ix)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No claim in writing has ever been made by any Governmental Authority in a jurisdiction in which any of the Company or a Company
Subsidiary does not file Tax Returns that the Company or a Company Subsidiary, as applicable, is or may be subject to Taxes in such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(x)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>None of the Company or any Company Subsidiary has entered into, been a party to or otherwise participated (directly or indirectly)
in any &#8220;listed transaction&#8221; within the meaning of Treasury Regulations Section 1.6011-4(b)(2) or any other &#8220;reportable
transaction&#8221; within the meaning of Treasury Regulations Section 1.6011-4(b) or any transaction requiring disclosure under similar
provisions of state, local or foreign Tax laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(xi)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Tax rulings have been entered into or issued by any Taxing authority with respect to the Company or any Company Subsidiary that
would affect the computation of Tax liability of the Company or a Company Subsidiary, as applicable, for any periods (or portions thereto)
beginning on or after the Closing Date, and no request for any such rulings currently is pending with any Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(xii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>None of the Company or any Company Subsidiary has agreed to make, or is required to make, any adjustment under Section 481(a) of
the Code by reason of a change in accounting method or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(xiii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>There is no contract or Company Benefit Plan covering any current or former employee or current or former independent contractor
of the Company or any Company Subsidiary that, individually or collectively, could give rise to a payment by the Company or any Company
Subsidiary (or the provision by the Company or any Company Subsidiary of any other benefits such as accelerated vesting) that would not
be deductible by the Company or such Company Subsidiary by reason of Code Section 280G or subject to an excise Tax under Code Section
4999. None of the Company or any Company Subsidiary has any indemnity obligations or any obligation to provide a &#8220;gross up&#8221;
payment for any excise Taxes imposed under Code Section 4999 or for any Taxes of any employee, including Taxes under Code 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(xiv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each Company Subsidiary has disclosed on their respective Tax Returns all positions taken therein that could reasonably
give rise to a substantial understatement of Taxes within the meaning of Code Section 6662.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(xv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>None of the Company or Company Subsidiaries will be required to include any material item of income in, or exclude any material
item of deduction from, taxable income for any taxable period (or portion thereof) ending after the Closing Date as a result of any of
the following that occurred or exists prior to the Closing: (A) a &#8220;closing agreement&#8221; as described in Code Section 7121 (or
any corresponding or similar provision of state, local or non-U.S. income Tax Law); (B) an installment sale or open transaction; (C) a
prepaid amount or deferred revenue; or (D) an intercompany item under Treasury Regulations Section 1.1502-13 or an excess loss account
under Treasury Regulations Section 1.1502-19.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(xvi)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each Company Subsidiary has been treated as a &#8220;C&#8221; corporation since its respective formation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_030"></A>2.17<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Environmental Laws and Regulations</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each of the Company and the Company Subsidiaries (i) has had and now has all environmental approvals, consents, Licenses, permits
and orders required to conduct the business in which it has been or is now engaged and (ii) has been and is in compliance in all material
respects with all applicable Environmental Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as set forth on <U>Schedule 2.17(b)</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>there are no claims, actions, suits or proceedings pending or, to the Knowledge of the Company or any Company Subsidiary, threatened
or contemplated against, or involving, the Company or any of the Company Subsidiaries, or any assets of any of the Company or the Company
Subsidiaries, under any of the Environmental Laws (whether by reason of any failure to comply with any of the Environmental Laws or otherwise);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>no decree, judgment or order of any kind under any of the Environmental Laws has been entered against the Company or any of the
Company Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Company and the Company Subsidiaries are in material compliance with applicable Environmental Laws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>there has been no Release of Hazardous Materials at or affecting the Real Property or any other property;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(v)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A) there are no Hazardous Materials in the soils, groundwater or surface waters of the Real Property that exceed applicable clean-up
levels under Environmental Laws and (B) no Real Property is currently listed on or proposed for listing on any listing on the United States
Environmental Protection Agency&#8217;s National Priorities List or any other analogous state governmental list of properties or sites
that require investigation, remediation or other response action under applicable Environmental Laws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(vi)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>none of the Company or the Company Subsidiaries is or has ever (A) transported or disposed, or arranged for the transportation
or disposal, either directly or indirectly through a sub-contractor, of a Hazardous Material, at any facility from which there is a Release
or threat of Release or that is currently undergoing investigation, remediation or other response action under applicable Environmental
Laws, or (B) owned, operated, leased, subleased or, to the Knowledge of the Company or any Company Subsidiary, held a security interest
in (1) any facility at which any Hazardous Materials were treated, stored in significant quantities, recycled, disposed or are or were
installed or incorporated into the structure or (2) any real property on which such a facility is or was located.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#8220;<U>Hazardous Materials</U>&#8221; means (A) pollutants, contaminants, pesticides, petroleum or petroleum products, radioactive
substances, solid wastes or hazardous or extremely hazardous, special, dangerous, or toxic wastes, substances, chemicals or materials
which are considered to be hazardous or toxic under any Environmental Law, including any &#8220;hazardous substance&#8221; as defined
in or under the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C., Sec. 9601, et seq., as amended and reauthorized,
and any &#8220;hazardous waste&#8221; as defined in or under the Resource Conservation and Recovery Act, 42 U.S.C., Sec. 6902, et seq.,
and all amendments thereto and reauthorizations thereof, and (B) any other pollutants, contaminants, hazardous, dangerous or toxic chemicals,
materials, wastes or other substances, including any industrial process or pollution control waste or asbestos, which pose a risk to the
health and safety of any Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#8220;<U>Release</U>&#8221; shall mean any spilling, leaking, pumping, pouring, emitting, emptying, discharging, injecting, escaping,
leaching, dumping or disposing into the environment (including the abandonment or discarding of barrels, containers and other closed receptacles
containing any Hazardous Material), either on the Real Property or migrating from the Real Property onto another property, whether or
not notification or reporting to any governmental authority was or is required, including any Release which is subject to Environmental
Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&#8220;<U>Environmental Laws</U>&#8221; means all applicable federal, state and local statutes, regulations, ordinances, rules
and policies, all court and administrative orders and decrees, all arbitration awards, and the common law, which pertain to Hazardous
Materials or protection of human health and safety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_031"></A>2.18<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Community Reinvestment Act Compliance</U><FONT STYLE="font-size: 10pt"><I>.</I> The Bank&#8217;s most recent Community Reinvestment
Act rating was &#8220;satisfactory&#8221; or better.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_032"></A>2.19<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Company Regulatory Reports</U><FONT STYLE="font-size: 10pt"><I>.</I> Since January 1, 2018, the Company and the Company Subsidiaries
have each timely filed all reports, registrations and statements, together with any amendments required to be made with respect thereto,
required to be filed with the Federal Reserve, the Federal Deposit Insurance Corporation, the Missouri Division of Finance (the &#8220;<U>MO
DOF</U>&#8221;), the MO SOS and any other Governmental Authority or self-regulatory organization with jurisdiction over any of the activities
of the Company or a Company Subsidiary (the &#8220;<U>Regulatory Reports</U>&#8221;), and have paid all fees and assessments due and payable
in connection therewith. As of their respective dates, the Regulatory Reports complied in all material respects with the statutes, rules
and regulations enforced or promulgated by the applicable Governmental Authority with which they were filed and did not contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statement therein,
in light of the circumstances under which they were made, not misleading. To the Knowledge of the Company, there is no reason why the
granting of any of the Requisite Regulatory Approvals would be denied or unduly delayed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_033"></A>2.20<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Employee Matters</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) Neither the Company nor any Company Subsidiary has entered into, nor is the Company or any Company Subsidiary otherwise bound
by, any collective bargaining agreements that are now in effect with respect to their employees nor has the Company or any Company Subsidiary
experienced any labor disturbance, slow-down, strike, lockout, material grievance, claim of unfair labor practices, or other dispute relating
to any union or collective bargaining within the past three years; (ii) there is no labor strike, labor dispute, or work slow-down, stoppage
or lockout pending or, to the Knowledge of the Company and the Company Subsidiaries, threatened against or affecting the Company or any
Company Subsidiary; (iii) to the Knowledge of the Company and the Company Subsidiaries, no union organization campaign is threatened or
in progress with respect to any of the employees of the Company or the Company Subsidiary, and no question concerning representation exists
respecting such employees; (iv) there is no unfair labor practice charge or complaint threatened or pending against the Company or the
Company Subsidiaries before the National Labor Relations Board; and (v) neither the Company nor any Company Subsidiary has agreed to recognize
any union or other collective bargaining representative, and no union or other collective bargaining representative has been certified
as the exclusive bargaining representative of any of the employees of the Company or any Company Subsidiary. Neither the Company nor any
Company Subsidiary has committed any unfair labor practice. To the Knowledge of the Company and the Company Subsidiaries, (1) no event
has occurred or circumstance exists that could provide the basis for any work slow-down or stoppage or other labor dispute and (2) there
is no organizational effort presently being made or threatened by or on behalf of any labor union with respect to employees of the Company
or the Company Subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Schedule 2.20(b)</U> sets forth the name, job title and date of commencement of employment with respect to each employee of
the Company and the Company Subsidiaries (collectively, the &#8220;<U>Employees</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and the Company Subsidiaries have complied and are in compliance in all material respects with all laws relating to
the employment of labor, including any provisions thereof relating to (i) wages, hours, bonuses, commissions, termination pay, vacation
pay, sick pay, fringe benefits, employee benefits, health insurance continuation (COBRA), and the payment and/or accrual of the same and
all insurance and all other costs and expenses applicable thereto; (ii) unlawful, wrongful, retaliatory, harassing, or discriminatory
employment or labor practices; (iii) occupational health and safety standards; (iv) employment taxes, deductions, reporting and licensure
requirements, and (v) plant closing, mass layoff, immigration, workers&#8217; compensation, disability, unemployment compensation, whistleblower
laws, driver regulations, and other employment laws, regulations and ordinances. The Company and each Company Subsidiary are in material
compliance with the Immigration Reform and Control Act of 1986 and maintain a current Form I-9, as required by such Act, in separate files,
for each employee hired after November 9, 1986 and the Company and the Company Subsidiaries have verified, to the extent required by the
Act, that each and every employee who is currently working in the United States is eligible to work in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All employees of the Company and the Company Subsidiaries have been or will have been on or before the Closing, paid in full by
the Company and the Company Subsidiaries, as applicable, for all earned wages, salaries, commissions, bonuses (including any bonuses or
incentive compensation related to the transactions contemplated by this Agreement), vacation pay, sick pay, and other compensation for
all services performed by such employees up to and including the Closing or any such unpaid amounts existing at the time of the Closing
will be properly reflected in the Closing Balance Sheet. All independent contractors who have worked for the Company or any Company Subsidiary
at any time are and have been properly classified as independent contractors pursuant to all applicable regulations. The Company and any
Company Subsidiary have withheld all amounts required by law or by agreement to be withheld from the wages, salaries and other payments
to their respective employees and are not liable for any arrears of wages or any taxes or any penalty for failure to comply with any of
the foregoing. Except as set forth on <U>Schedule 2.20(d)</U>, to the Knowledge of the Company and the Company Subsidiaries, no officer
of the Company or any Company Subsidiary intends to terminate employment with the Company or any Company Subsidiary prior to or following
the Closing.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>There are no, and in the past three (3) years have been no, civil, criminal, or administrative actions, proceedings, suits, demands,
claims, charges, disputes, audits, hearings, citations, inspections or investigations filed before any Governmental Authority, arbitral
panel or mediator by any of the directors, officers, employees, consultants or other service providers of the Company and the Company
Subsidiaries related to his or her employment or services with the Company or a Company Subsidiary, or with respect to an alleged violation
of the Company&#8217;s or a Company Subsidiary&#8217;s employee handbook or code of ethics, including any provisions therein that relate
to sexual harassment or discrimination, nor to the Knowledge of the Company or the Bank are any such charges, grievances or complaints
currently threatened with respect to any employee of the Company or a Company Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_034"></A>2.21<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Employee Benefit Plans</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Schedule 2.21(a)</U> includes a complete and correct list of the following: (i) each employee welfare benefit plan and employee
pension benefit plan within the meaning of ERISA Sections 3(1) and 3(2), respectively (the &#8220;<U>ERISA Plans</U>&#8221;), (ii) each
compensation, consulting, employment or collective bargaining agreement, and (iii) each stock option, stock purchase, phantom stock, restricted
stock, stock bonus, stock appreciation right, other stock based, life, health, dental, disability, paid time off (including sick leave,
holiday pay and/or vacation time) or other insurance or benefit, excess benefit, bonus, deferred or incentive compensation, top hat, severance
or separation, change in control, profit sharing, retirement, award agreement, service award, tuition reimbursement, moving expense reimbursement,
form of award agreement, fringe benefit, or other employee benefit plan, contract, practice, policy or arrangement of any kind, oral or
written, covering current or former employees, directors, or independent contractors (or spouses or dependents of any of the foregoing)
of the Company or any Company Subsidiary which the Company or any Company Subsidiary sponsors, maintains or contributes to (or, with respect
to any employee pension benefit plan has maintained or contributed to within the six year period ending on the Closing Date) or to which
the Company or any Company Subsidiary is a party or by which it is otherwise bound or has or could be reasonably be expected to have liability
with respect to (collectively, together with the ERISA Plans, the &#8220;<U>Company Benefit Plans</U>&#8221;). None of the Company or
any Company Subsidiary has, or has had within the six year period ending on the Closing Date, an affiliate that would be treated as a
single employer together with the Company or any Company Subsidiary (an &#8220;<U>ERISA Affiliate</U>&#8221;) under Section 414 of the
Code, other than the Company and the Company Subsidiaries with respect to each other.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company previously has delivered to Parent true and complete copies of the following with respect to each Company Benefit Plan
(to the extent applicable): (i) copies of each Company Benefit Plan and amendments thereto, funding vehicles, and all related summary
plan descriptions and summaries of material modifications; (ii) the last three years&#8217; Annual Returns on Form 5500, including all
schedules and attachments thereto and the opinions of independent accountants; (iii) all Internal Revenue Service (&#8220;<U>IRS</U>&#8221;)
determination (or opinion) letters; (iv) actuarial reports; (v) all contracts with third party administrators, actuaries, investment managers,
trustee, consultants, insurers, and independent contractors that relate to any Company Benefit Plan; (vi) all notices and other communications
that were given by the Company or any Company Benefit Plan to the IRS, the U.S. Department of Labor (the &#8220;<U>DOL</U>&#8221;), the
Pension Benefit Guaranty Corporation (the &#8220;<U>PBGC</U>&#8221;), within the four years preceding the date of this Agreement; and
(vii) all notices or other communications that were given by the IRS, the PBGC, or the DOL to the Company or any Company Benefit Plan
within the four years preceding the date of this Agreement, forms, or instruments reasonably requested by Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby (either alone
or in combination with any other event) will cause an increase or acceleration of payment of benefits, compensation or benefit entitlements
(or vesting thereof) employees or former employees of the Company or any Company Subsidiary under any Company Benefit Plan or any other
increase in the liabilities of the Company or any Company Subsidiary under any Company Benefit Plan as a result of the transactions contemplated
by this Agreement; provided, that, to the extent the execution and delivery of this Agreement or the consummation of the transactions
contemplated hereby results in any such item, <U>Schedule 2.21(c)</U> includes a true and complete (i) list of each individual receiving
a right to any such benefit and (ii) a description of each such benefit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Company Subsidiary maintains, participates in, or contributes to, has ever maintained, participated
in or contributed to, or has any liability or could reasonably be expected have any liability with respect to: (i) a multiemployer plan
within the meaning of Section 3(37) of ERISA (a &#8220;<U>Multiemployer Plan</U>&#8221;); (ii) a &#8220;multiple employer plan&#8221;
within the meaning of Section 3(37) of ERISA; (iii) a &#8220;multiple employer welfare arrangement&#8221; within the meaning of Section
3(40) of ERISA; or (iv) a pension plan subject to Title IV of ERISA or the minimum funding requirements of Section 302 of ERISA or Section
412 of the Code. Neither the Company nor any Company Subsidiary or, to their Knowledge, any director or employee of the Company or any
Company Subsidiary, or any fiduciary of any ERISA Plan has engaged in any transaction in violation of Section 406 or 407 of ERISA or any
&#8220;prohibited transaction&#8221; (as defined in Section 4975(c)(1) of the Code) for which no exemption exists under Section 408 of
ERISA or Section 4975(d) of the Code in connection with such ERISA Plan and which would reasonably be expected to result in material liability
to the Company or any Company Subsidiary. The Company and the Company Subsidiaries do not provide and have never provided medical benefits,
life insurance or similar welfare benefits to former employees, owners, or directors (or the spouses and dependents of any of the foregoing),
except as required by Section 601 of ERISA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each ERISA Plan that is intended to qualify under Section 401 and related provisions of the Code is the subject of a current favorable
determination letter from the IRS, to the effect that it is qualified under the Code and that its related funding instrument is tax exempt
under Section 501 of the Code (or the Company and the Company Subsidiaries are otherwise relying on an opinion letter issued to the prototype
sponsor), and, to the Company&#8217;s or the Company Subsidiaries&#8217; Knowledge, there are no facts or circumstances that would adversely
affect the qualified status of any ERISA Plan or the tax-exempt status of any related trust, and such ERISA Plan has been timely amended
to reflect applicable legislation and regulations for which the remedial amendment period has expired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each Company Benefit Plan has been in compliance and currently complies in all material respects in form and administration with
its terms and with all Applicable Law, rules and regulations, including ERISA and the Code. Neither the Company nor any Affiliate of the
Company that is a fiduciary with respect to any Company Benefit Plan has breached any of the responsibilities, obligations or duties imposed
on it by ERISA. No Company Benefit Plan is currently the subject of a submission under IRS Employee Plans Compliance Resolution System
or any similar system, nor under any DOL amnesty program, and neither the Company nor any Company Subsidiary anticipates any such submission
of any Company Benefit Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Other than claims for benefits made in the Ordinary Course of Business, there is no litigation, claim, assessment, audit, inquiries
or reviews pending or, to the Company&#8217;s or the Company Subsidiaries&#8217; Knowledge, threatened by, on behalf of, or against any
of the Company Benefit Plans or against the administrators or trustees or other fiduciaries of any of the Company Benefit Plans and, there
is no reasonable basis to believe that any such litigation, claim or assessment could be expected to result in liability to the Company
or a Company Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No Company Benefit Plan fiduciary or any other Person has, or has had, any liability to any Company Benefit Plan participant, beneficiary
or any other Person under any provisions of ERISA or any other applicable law by reason of any action or failure to act in connection
with any Company Benefit Plan, including any liability by reason of any payment of, or failure to pay, benefits or any other amounts or
by reason of any credit or failure to give credit for any benefits or rights. Every Company Benefit Plan fiduciary and official is bonded
to the extent required by Section 412 of ERISA.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All accrued contributions and other payments to be made by the Company or the Company Subsidiaries to any Company Benefit Plan
(i) through the date hereof have been timely made or reserves adequate for such purposes have been set aside therefor and reflected in
the Company Financial Statements and (ii) through the Closing Date will have been timely made or reserves adequate for such purposes will
have been set aside therefor and reflected in the Company Financial Statements. None of the Company or any Company Subsidiary is in default
in performing any of its contractual obligations under any of the Company Benefit Plans or any related trust agreement or insurance contract.
There are no outstanding liabilities with respect to any Company Benefit Plan other than liabilities for benefits to be paid to participants
in such Company Benefit Plan and their beneficiaries in accordance with the terms of such Company Benefit Plan. Except to the extent reserved
for and reflected in the Company Financial Statements in accordance with this subsection (i), none of the Company or any Company Subsidiary
has committed to, or announced, a change to any Company Benefit Plan that increases the cost of the Company Benefit Plan to the Company
or a Company Subsidiary. Each Company Benefit Plan may be amended, terminated, modified, or otherwise revised by the plan sponsor, on
and after the Closing, without further liability to the plan sponsor or the Company or any Company Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Since January 1, 2015, the Company has offered minimum essential coverage (as described in Section 4980H of the Code) to its common
law employees who must be treated as &#8220;full-time employees&#8221; under Section 4980H of the Code and its implementing regulations,
and such coverage has satisfied the affordability and minimum value standards under Section 4980H of the Code and its implementing regulations.
To the Knowledge of the Company, the Company has not been and does not reasonably expect to be subject to any penalty under Section 4980H
of the Code with respect to any period prior to the Closing. For each required plan year, the Company has timely filed Forms 1094-C and
1095-C with the IRS and timely distributed Form 1095-C to each applicable employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_035"></A>2.22<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Technology and Intellectual Property</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Schedule 2.22(a)</U> sets forth a complete and correct list of all (i) registered trademarks, service marks, domain names, copyrights
and patents; (ii) applications for registration or grant of any of the foregoing; (iii) unregistered trademarks, service marks, trade
names, logos and assumed names; and (iv) licenses for any of the foregoing, in each case, owned by or for the benefit of the Company or
a Company Subsidiary, or used in or necessary to conduct the Company&#8217;s or a Company Subsidiary&#8217;s business as presently conducted.
The items on <U>Schedule 2.22(a)</U>, together with all other trademarks, service marks, trade names, logos, assumed names, patents, copyrights,
trade secrets, computer software, licenses, formulae, customer lists or other databases, business application designs and inventions currently
used in or necessary to conduct the businesses of the Company or of a Company Subsidiary, constitute the &#8220;<U>Intellectual Property</U>.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company and each Company Subsidiary has ownership of, or such other rights by license, lease or other agreement in and to,
the Intellectual Property as is necessary to permit the use of the Intellectual Property in the conduct of its business as presently conducted.
Neither the Company nor any Company Subsidiary has received any notice (whether written or, to the Knowledge of the Company or any Company
Subsidiary, oral) alleging that the Company or any Company Subsidiary has infringed or violated any trademark, trade name, copyright,
patent, trade secret right or other proprietary right of others, and to the Knowledge of the Company and the Company Subsidiaries, none
of the Company or any Company Subsidiary has committed any such violation or infringement. To the Knowledge of the Company or any Company
Subsidiary, there are no facts or circumstances that, upon consummation of the transactions contemplated hereby, would cause the Company
or any Company Subsidiary to be in any way more restricted in its use of any of the Intellectual Property than it was on the date hereof
under any contract to which the Company or a Company Subsidiary is a party or by which it is bound, or that use of such Intellectual Property
by the Bank will, as a result of such consummation, violate or infringe the rights of any Person, or subject Parent, the Company a Company
Subsidiary to liability of any kind, under any such contract.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company or a Company Subsidiary has ownership of, or such other rights by license, lease or other agreement in and to, the
IT Assets as is necessary to permit the Company and the Company Subsidiaries to use the IT Assets in the conduct of their respective businesses
as presently conducted. The IT Assets operate and perform in all material respects in accordance with their documentation and functional
specifications and otherwise as required by the Company and the Company Subsidiaries in connection with their respective businesses, and
have not materially malfunctioned or failed within the past three years. &#8220;<U>IT Assets</U>&#8221; means the computers, computer
software, firmware, servers, workstations, routers, hubs, switches, data communications lines and all other information technology equipment,
and all associated documentation, owned or leased by the Company or the Company Subsidiaries. To the Knowledge of the Company and the
Company Subsidiaries, the IT Assets do not contain any worms, viruses, bugs, faults or other devices or effects that (i) enable or assist
any Person to access without authorization the IT Assets, or (ii) otherwise significantly adversely affect the functionality of the IT
Assets, except as disclosed in its documentation. To the Knowledge of the Company and the Company Subsidiaries, no Person has gained unauthorized
access to the IT Assets. The Company and the Company Subsidiaries have implemented reasonable back-up and disaster recovery technology
consistent with industry practices. To the Knowledge of the Company and the Company Subsidiaries, except for &#8220;off the shelf&#8221;
software licensed by the Company or the Company Subsidiaries in the Ordinary Course of Business, none of the IT Assets contains any shareware,
open source code, or other software the use of which by the Company to any Company Subsidiary requires disclosure or licensing of any
intellectual property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_036"></A>2.23<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Absence of Certain Changes or Events</U><FONT STYLE="font-size: 10pt"><I>. </I>Other than as specifically disclosed in this
Agreement, the Company Financial Statements, <U>Schedule 2.23</U>, or the other Schedules delivered pursuant to this Agreement, since
December 31, 2020, the Company and the Company Subsidiaries have not suffered any change, development, occurrence or event that, in any
case or in the aggregate, has caused or reasonably would be expected to cause a Material Adverse Effect to the Company and the Company
Subsidiaries, taken as a whole. No fact or condition exists with respect to the business, operations or assets of the Company or the Company
Subsidiaries which the Company has reason to believe may cause the Federal Reserve Application, the MO DOF Application or any of the other
regulatory approvals referenced in <U>Section 6.4</U> or <U>Section 7.4</U> to be denied or unduly delayed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_037"></A>2.24<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conduct of Business Since December 31, 2020</U><FONT STYLE="font-size: 10pt"><I>.</I> Since December 31, 2020 the business of
the Company and each Company Subsidiary has been conducted only in the Ordinary Course of Business. Without limiting the generality of
the foregoing, since December 31, 2020, except as set forth on <U>Schedule 2.24</U>, none of the Company or a Company Subsidiary has taken,
or has caused, suffered or permitted to be taken any of the following actions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>sold, leased (as lessor), transferred or otherwise disposed of (including any transfers to any of its Affiliates), or mortgaged
or pledged, or imposed or suffered to be imposed any Encumbrance on, any of the Company&#8217;s or any Company Subsidiary&#8217;s assets
reflected on the Company Financial Statements or any assets acquired by the Company or a Company Subsidiary after December 31, 2019, except
for (i) loans held for sale and Investment Securities sold or otherwise disposed of in the Ordinary Course of Business and (ii) Permitted
Encumbrances;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>cancelled any debts owed to or claims held by the Company or a Company Subsidiary (including the settlement of any claims or litigation)
other than in the Ordinary Course of Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>created, incurred or assumed, or agreed to create, incur or assume, any indebtedness for borrowed money in respect of the Company
or a Company Subsidiary, or entered into, as lessee, any capitalized lease obligations, in either case other than in the Ordinary Course
of Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>accelerated or delayed collection of notes, accounts or loans receivable generated by the Company or a Company Subsidiary in advance
of or beyond their regular due dates or the dates when the same would have been collected in the Ordinary Course of Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>delayed or accelerated payment of any account payable or other liability of the Company or a Company Subsidiary beyond or in advance
of its due date or the date when such liability would have been paid in the Ordinary Course of Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>declared or paid any dividend on shares of Company Common Stock or made any other distribution with respect thereto, except in
the Ordinary Course of Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>instituted any increase in any compensation payable to any employee of the Company or any Company Subsidiary other than routine
increases in the Ordinary Course of Business, or instituted any increase in any profit-sharing, bonus, incentive, deferred compensation,
insurance, pension, retirement, medical, hospital, disability, welfare or other benefits made available to employees of the Company or
any Company Subsidiary;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>prepared or filed any Tax Return inconsistent with past practice or, on any such Tax Return, taken any position, made any election,
or adopted any method that is inconsistent with positions taken, elections made or methods used in preparing or filing similar Tax Returns
in prior periods; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>made any change in the accounting principles and practices used by the Company or any Company Subsidiary from those applied in
the preparation of the Company Financial Statements and the related statements of income and cash flow for the period then ended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_038"></A>2.25<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Change in Business Relationships</U><FONT STYLE="font-size: 10pt">. None of the Company or any Company Subsidiary has received
notice (whether written or, to the Knowledge of the Company or any Company Subsidiary, oral), whether on account of the transactions contemplated
by this Agreement or otherwise, (a)&nbsp;that any customer, agent, Representative, supplier, vendor or business referral source of the
Company or any Company Subsidiary intends to discontinue, diminish or change its relationship with the Company or any Company Subsidiary,
the effect of which would be material to the business, assets or operations of the Company or any Company Subsidiary, or (b) that any
executive officer of the Company or any Company Subsidiary intends to terminate or substantially alter the terms of his or her employment.
There have been no complaints or disputes (in each case set forth in writing) with any customer, employee, agent, Representative, supplier,
vendor, business referral source or other parties that have not been resolved which are reasonably likely to be material to the business,
assets or operations of the Company or any Company Subsidiary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_039"></A>2.26<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Brokers&#8217; and Finders&#8217; Fees</U><FONT STYLE="font-size: 10pt"><I>.</I> Except for Piper Sandler &amp; Co., none of
the Company or any Company Subsidiary has any liability (whether incurred, potential, contingent or otherwise) for financial advisor fees,
brokerage commissions, finders&#8217; fees, or like compensation with respect to the transactions contemplated by this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_040"></A>2.27<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Opinion of Financial Advisor</U><FONT STYLE="font-size: 10pt">. The Company has received the opinion of Piper Sandler &amp;
Co. to the effect that, as of the date thereof, the Merger Consideration to be received in the Merger is fair, from a financial point
of view, to the holders of Company Common Stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_041"></A>2.28<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Information Supplied</U><FONT STYLE="font-size: 10pt">. None of the information supplied or to be supplied by the Company for
inclusion or incorporation by reference in (i) the Registration Statement to be filed with the Commission by Parent in connection with
the transactions contemplated by this Agreement will, at the time the Registration Statement is filed with the Commission, at any time
it is amended or supplemented or at the time it becomes effective under the Securities Act, contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, or (ii)
the Proxy Statement will, at the date it is first mailed to the Company&#8217;s shareholders, or at the time of the Company Shareholders
Meeting, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary
in order to make the statements therein, in the light of the circumstances under which they are made, not misleading. The Proxy Statement
will comply as to form in all material respects with the requirements of Applicable Law, except that no representation is made by the
Company with respect to statements made or incorporated by reference therein based on information supplied by Parent in writing for inclusion
or incorporation by reference in the Proxy Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_042"></A>2.29<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Other Representations or Warranties</U><FONT STYLE="font-size: 10pt"><I>. </I>Except for the representations and warranties
made by the Company in this ARTICLE II, neither the Company nor any other Person makes any express or implied representation or warranty
with respect to the Company, any of the Company Subsidiaries, or their respective businesses, operations, assets, liabilities, conditions
(financial or otherwise) or prospects, and the Company hereby disclaims any such other representations or warranties. In particular, without
limiting the foregoing disclaimer, neither the Company nor any other Person makes or has made any representation or warranty to Parent
or any of its Affiliates or Representatives with respect to: (i) any financial projection, forecast, estimate, budget or prospective information
relating to the Company, any of the Company Subsidiaries or their respective businesses; or (ii) except for the representations and warranties
made by the Company in this ARTICLE II, any oral or written information presented to Parent or any of its Affiliates or Representatives
in the course of their due diligence investigation of the Company, the negotiation of this Agreement or in the course of the transactions
contemplated hereby. The Company acknowledges and agrees that neither Parent or Merger Sub nor any other Person has made or is making
any express or implied representation or warranty other than those contained in ARTICLE III.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="appa_043"></A><B>ARTICLE III<BR>
REPRESENTATIONS AND WARRANTIES<BR>
CONCERNING PARENT AND MERGER SUB</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Except as disclosed in the disclosure schedule delivered
by Parent and Merger Sub to the Company concurrently herewith (the &#8220;<U>Parent Disclosure Schedule</U>&#8221;) (<U>provided</U>,
that any disclosures made with respect to a section of this ARTICLE III shall be deemed to qualify any other section of this ARTICLE III
specifically referenced or cross-referenced), Parent and Merger Sub hereby represent and warrant to the Company as of the date hereof
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_044"></A>3.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Organization</U><FONT STYLE="font-size: 10pt">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Parent is duly registered as a financial holding company under the BHCA, is a corporation duly organized, validly existing and
in good standing under the laws of the State of Delaware, has the corporate power and authority to own its own properties and to carry
on its business as it is now being conducted, and is duly qualified and in good standing as a foreign corporation in each jurisdiction
where the location and character of its properties and the business conducted by it require such qualification, except where the failure
to be so qualified would not have a Material Adverse Effect on Parent. Merger Sub is a limited liability company duly organized, validly
existing and in good standing under the laws of the State of Delaware, has the power and authority to own its own properties and to carry
on its business as it is now being conducted, and is duly qualified and in good standing as a foreign company in each jurisdiction where
the location and character of its properties and the business conducted by it require such qualification, except where the failure to
be so qualified would not have a Material Adverse Effect on Parent. Merger Sub is a wholly owned subsidiary of Parent and is treated as
a disregarded entity for Federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>First Mid Bank &amp; Trust, N.A. is a nationally chartered bank, duly chartered and organized, validly existing and currently authorized
to transact the business of banking under the laws of the United States of America (the &#8220;<U>Parent Bank</U>&#8221;), and has the
requisite power and authority to own its properties and to carry on its business as presently conducted. Parent Bank is a wholly owned
subsidiary of Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_045"></A>3.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Capitalization</U><FONT STYLE="font-size: 10pt">. The authorized capital stock of Parent consists of (i) 30,000,000 shares of
common stock, $4.00 par value per share, of which 18,083,126 shares were issued and outstanding, and 620,691 shares were held in treasury,
as of the date of this Agreement, and (ii) 1,000,000 shares of preferred stock, no par value per share, of which zero shares are issued
and outstanding as of the date of this Agreement. The issued and outstanding shares of Parent Common Stock have been duly and validly
authorized and issued and are fully paid and non-assessable. The Parent Common Stock is subject to certain preferences, qualifications,
limitations, restrictions or special or relative rights under Parent&#8217;s certificate of incorporation, a true and complete copy of
which has been previously provided to the Company. There are no options, warrants, agreements, contracts or other rights in existence
to purchase or acquire from Parent any shares of capital stock of Parent, whether now or hereafter authorized or issued, other than shares
issuable pursuant to employee benefit or compensation plans referred to in the Parent SEC Documents. There are no voting trusts, voting
agreements, proxies or other agreements, instruments or undertakings with respect to the voting of any interests in Parent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_046"></A>3.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authorization; No Violations</U><FONT STYLE="font-size: 10pt"><I>. </I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The execution and delivery of this Agreement by Parent and the performance of Parent&#8217;s obligations hereunder have been duly
and validly authorized by the board of directors of Parent (the &#8220;<U>Parent Board</U>&#8221;), do not violate or conflict with the
certificate of incorporation or by-laws of Parent, the Delaware General Corporation Law, as amended, or any Applicable Law, court order
or decree to which Parent is a party or subject, or by which Parent is bound, and require no further corporate or stockholder approval
on the part of Parent. Subject to receipt of the consents or approvals set forth in <U>Schedule 3.4</U>, the execution and delivery of
this Agreement by Parent and the performance of Parent&#8217;s obligations hereunder do not and will not result in any default or give
rise to any right of termination, cancellation or acceleration under any material note, bond, mortgage, indenture or other agreement by
which Parent is bound. This Agreement, when executed and delivered, and subject to the matters described in <U>Section 3.4</U>, will be
a valid, binding and enforceable obligation of Parent, subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting creditors generally and to general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The execution and delivery of this Agreement by Merger Sub and the performance of Merger Sub&#8217;s obligations hereunder have
been duly and validly authorized by the sole member of Merger Sub, do not violate or conflict with the certificate of formation or operating
agreement of Merger Sub, any Applicable Law, court order or decree to which Merger Sub is a party or subject, or by which Merger Sub is
bound, and require no further limited liability company or member approval on the part of Merger Sub. Parent, in its capacity as sole
member of Merger Sub, has approved this Agreement and the Merger. Subject to receipt of the consents or approvals set forth in <U>Schedule
3.4</U>, the execution and delivery of this Agreement by Merger Sub and the performance of Merger Sub's obligations hereunder do not and
will not result in any default or give rise to any right of termination, cancellation or acceleration under any material note, bond, mortgage,
indenture or other agreement by which Merger Sub is bound. This Agreement, when executed and delivered, and subject to the matters described
in <U>Section 3.4</U>, will be a valid, binding and enforceable obligation of Merger Sub, subject to applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors generally and to general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_047"></A>3.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Consents and Approvals</U><FONT STYLE="font-size: 10pt"><I>.</I> No consents or approvals of, or filings or registrations with,
any Governmental Authority or with any third party are necessary in connection with the execution and delivery by Parent of this Agreement
and the consummation by Parent, as of the Effective Date, of the transactions contemplated by this Agreement, except for (a) the consents
and approvals set forth on <U>Schedule 3.4</U>, (b) the filing by Parent of an application with the Board of Governors of the Federal
Reserve System (the &#8220;<U>Federal Reserve</U>&#8221;) under the BHCA (the &#8220;<U>Federal Reserve Application</U>&#8221;) and the
filing of an application with the MO DOF (the &#8220;<U>MO DOF Application</U>&#8221;), (c) the filing by Parent of the Registration Statement,
(d) the Company Shareholder Approval, (e) the filing of the Articles of Merger with the MO SOS under the GBCLM and (f) the filing of the
Certificate of Merger with the DE SOS under the DLLCA. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_048"></A>3.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Parent SEC Filings and Financial Statements</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The financial statements presented (or incorporated by reference) in the Parent SEC Reports (including the related notes and any
schedules thereto, where applicable) have been prepared in conformity with GAAP, applied on a consistent basis throughout the periods
involved except in each case as indicated in such statements or the notes thereto, and comply in all material respects with all applicable
Legal Requirements. Taken together, the financial statements presented in the Parent SEC Reports (collectively, the &#8220;<U>Parent Financial
Statements</U>&#8221;) are complete and correct in all material respects and fairly and accurately present the respective financial position,
assets, liabilities, results of operations, changes in stockholders&#8217; equity and cash flows of Parent and its subsidiaries at the
respective dates of and for the periods referred to in the Parent Financial Statements, subject to normal year-end audit adjustments in
the case of unaudited Parent Financial Statements. The Parent Financial Statements do not include any assets or omit to state any liabilities,
absolute or contingent, or other facts, which inclusion or omission would render the Parent Financial Statements misleading in any material
respect as of the respective dates thereof and for the periods referred to therein. As of the date hereof, BKD LLP has not resigned (or
informed Parent that it intends to resign) or been dismissed as independent registered public accountants of Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Since December 31, 2018, Parent has timely furnished or filed all registration statements, prospectuses, reports, schedules, statements,
forms, documents and reports (including exhibits and all other information incorporated by reference) required to be furnished or filed
with the Commission under the Securities Act or the Securities and Exchange Act of 1934, as amended (the &#8220;<U>Exchange Act</U>&#8221;)
(collectively with any amendments thereto, but excluding the Proxy Statement and the Registration Statement, the &#8220;<U>Parent SEC
Reports</U>&#8221;), except to the extent that the failure to file any such Parent SEC Report would not have a Material Adverse Effect
on Parent. Each of the Parent SEC Reports, in each case as of its filing date, or, if amended, as finally amended prior to the date of
this Agreement (with respect to those Parent SEC Reports filed prior to the date of this Agreement), has complied as to form in all material
respects with the applicable requirements of the Securities Act, the Exchange Act, the Sarbanes Oxley Act of 2002 and the rules and regulations
of the SEC thereunder, and none of the Parent SEC Reports, including any financial statements, schedules or exhibits included or incorporated
by reference, when filed or furnished or, if amended, as finally amended prior to the date of this Agreement, contained any untrue statement
of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein,
in light of the circumstances under which they were made, not misleading, except to the extent that the failure to file any such Parent
SEC Report would not have a Material Adverse Effect on Parent. None of Parent&#8217;s subsidiaries are or ever have been required to file
or furnish any forms, reports or other documents with the Commission. As of the date of this Agreement, there are no material outstanding
or unresolved comments received from the Commission with respect to any of the Parent SEC Reports.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Parent has established and maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange
Act) as required by Rule 13a-15(a) under the Exchange Act, and Parent has established and maintains internal controls over financial reporting
(as such term is defined in Rule 13a-15(f) under the Exchange Act) as required by Rule 13a-15(a) under the Exchange Act. Parent has disclosed,
based on its most recent evaluation prior to the date of this Agreement, to Parent&#8217;s auditors and the audit committee of the Parent
Board (i) any significant deficiencies and material weaknesses in the design or operation of its internal controls over financial reporting
(as defined in Rule 13a-15(f) of the Exchange Act) which are reasonably likely to adversely affect Parent&#8217;s ability to record, process,
summarize and report financial information and (ii) any fraud that involves management or other employees who have a significant role
in Parent&#8217;s internal controls over financial reporting. Since December 31, 2018, neither Parent nor any of its subsidiaries has
Knowledge of any written complaint, allegation, assertion or claim regarding the accounting or auditing practices, procedures, methodologies
or methods of Parent or its subsidiaries or their respective internal accounting controls, including any written complaint, allegation,
assertion or claim that Parent or any of its subsidiaries has engaged in questionable accounting or auditing practices, which, if true,
would constitute a significant deficiency or a material weakness. Since January 1, 2018, subject to any applicable grace periods, (i)
Parent has been and is in compliance in all material respects with the applicable provisions of the Sarbanes Oxley Act of 2002, and (ii)
Parent has been and is in compliance with the applicable listing and corporate governance rules and regulations of NASDAQ.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_049"></A>3.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Compliance with Laws; Legal Proceedings</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Parent and its subsidiaries are each in compliance with all applicable federal, state, county and municipal laws and regulations
(i) that regulate or are concerned in any way with the ownership and operation of banks or the business of banking, their holding companies
and their subsidiaries or of acting as a fiduciary, including those laws and regulations relating to the investment of funds, the taking
of deposits, the lending of money, the collection of interest, the extension of credit and the location and operation of banking facilities,
or (ii) that otherwise relate to or affect the business or assets of Parent or any of its subsidiaries or the assets owned, used, occupied
or managed by Parent or any of its subsidiaries, except for such noncompliance which individually or in the aggregate would not have a
Material Adverse Effect on Parent. Parent and its subsidiaries hold all material Licenses from all appropriate federal, state or other
Governmental Authorities necessary for the conduct of their respective businesses and the ownership of their respective assets. None of
Parent or its subsidiaries has received from any federal, state or other Governmental Authority any notice or communication indicating
that Governmental Authority would, and Parent has no reason to believe any such Governmental Authority would, object to, or withhold any
approval or consent necessary for, the consummation by Parent of the Merger and the transactions contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Except as may be disclosed in the Parent SEC Documents, there are no material claims, actions, suits or proceedings pending or,
to the Knowledge of Parent, threatened or contemplated against or affecting Parent or its subsidiaries, at law or in equity, or before
any federal, state or other Governmental Authority or any arbitrator or arbitration panel, whether by contract or otherwise, including
any claims, actions, suits or proceedings that might seek to challenge the validity or propriety of the Merger or that would affect Parent&#8217;s
ability to obtain the Requisite Regulatory Approvals, and there is no decree, judgment or order or supervisory agreement of any kind in
existence against or restraining Parent or its subsidiaries from taking any action of any kind in connection with their respective businesses.
Except as may be disclosed in the Parent SEC Documents, none of Parent or its subsidiaries has received from any federal, state or other
Governmental Authority any notice or threat (whether written or, to the Knowledge of Parent, oral) of any enforcement action, criticism
or recommendation concerning capital, compliance with laws or regulations, safety or soundness, fiduciary duties or other banking or business
practices that has not been resolved to the reasonable satisfaction of such Governmental Authority and that would be materially adverse
to Parent and its subsidiaries taken as a whole, and Parent has no reasonable basis to believe that any such enforcement action, criticism
or recommendation not otherwise disclosed herein is contemplated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_050"></A>3.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Parent Regulatory Reports</U><FONT STYLE="font-size: 10pt"><I>.</I> Since December 31, 2018, Parent and its subsidiaries have
filed all material reports, registrations and statements, together with any amendments required to be made with respect thereto, required
to be filed with the Federal Reserve, the OCC, the Delaware Secretary of State and any other Governmental Authority or self-regulatory
organization with jurisdiction over any of the activities of Parent or its subsidiaries (the &#8220;<U>Parent Regulatory Reports</U>&#8221;),
and have paid all fees and assessments due and payable in connection therewith. As of their respective dates, the Parent Regulatory Reports
complied in all material respects with the statutes, rules and regulations enforced or promulgated by the applicable Governmental Authority
with which they were filed and did not contain any untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_051"></A>3.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Adverse Change</U><FONT STYLE="font-size: 10pt"><I>.</I> Except as disclosed in the Parent SEC Documents or this Agreement,
there has not occurred (a) since December 31, 2019, any Material Adverse Effect on Parent, or (b) any change, condition, event, circumstance,
fact or other occurrence, whether occurring before or since December 31, 2019 that may reasonably be expected to have or result in a Material
Adverse Effect on Parent. No fact or condition exists with respect to the business, operations or assets of Parent or its subsidiaries
which Parent has reason to believe may cause the Federal Reserve Application, the MO DOF Application or any of the other regulatory approvals
referenced in <U>Section 6.4</U> or <U>Section 7.4</U> to be denied or unduly delayed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_052"></A>3.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Taxation of the Merger</U><FONT STYLE="font-size: 10pt">. Neither Parent nor any of its subsidiaries has taken any action or
agreed to take any action that would preclude the Merger from qualifying as a reorganization in accordance with Section 368(a) of the
Code and, to the Knowledge of Parent, there are no agreements or arrangements to which Parent or any of its subsidiaries is a party that
would prevent the Merger from so qualifying.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_053"></A>3.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Brokers&#8217; and Finders&#8217; Fees</U><FONT STYLE="font-size: 10pt">. Neither Parent nor any of its subsidiaries has any
liability (whether incurred, potential, contingent or otherwise) for brokerage commissions, finders&#8217; fees, or like compensation
with respect to the transactions contemplated by this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_054"></A>3.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Information Supplied</U><FONT STYLE="font-size: 10pt">. None of the information supplied or to be supplied by Parent for inclusion
or incorporation by reference in (i) the Registration Statement will, at the time the Registration Statement is filed with the Commission,
at any time it is amended or supplemented or at the time it becomes effective under the Securities Act, contain any untrue statement of
a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading,
or (ii) the Proxy Statement will, at the date it is first mailed to the Company&#8217;s shareholders or at the time of the Company Shareholders
Meeting, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary
in order to make the statements therein, in the light of the circumstances under which they are made, not misleading. The Registration
Statement will comply as to form in all material respects with the requirements of the Securities Act and the rules and regulations thereunder,
except that no representation is made by Parent with respect to statements made or incorporated by reference therein based on information
supplied by the Company for inclusion or incorporation by reference therein.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_055"></A>3.12<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Loans; Loan Loss Reserves</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Each outstanding loan, loan agreement, note, lease or other borrowing agreement (including any overdraft protection extensions
of credit), any participation therein and any guaranty, renewal or extension thereof (collectively, &#8220;<U>Parent Loans</U>&#8221;)
reflected on the books and records of Parent Bank is evidenced by appropriate and sufficient documentation and, to the Knowledge of Parent,
constitutes the legal, valid and binding obligation of the obligor named therein, enforceable in accordance with its terms, except to
the extent such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting
the enforcement of creditors&#8217; rights and remedies generally from time to time in effect and by Applicable Law which may affect the
availability of equitable remedies. No obligor named in any Parent Loan has provided notice (whether written or, to the Knowledge of Parent
or Parent Bank, oral) to Parent or Parent Bank that such obligor intends to attempt to avoid the enforceability of any term of any Parent
Loan under any such laws or equitable remedies, and no Parent Loan is subject to any valid defense, set-off, or counterclaim that has
been threatened or asserted with respect to such Parent Loan. All Parent Loans that are secured, as evidenced by the appropriate and sufficient
ancillary security documents, are so secured by valid and enforceable liens. Neither Parent nor Parent Bank has entered into any loan
repurchase agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The reserves for loan and lease losses shown on each of the balance sheets contained in the Parent Financial Statements are adequate
in the judgment of management and consistent with applicable regulatory standards and under GAAP to provide for losses, net of recoveries
relating to loans and leases previously charged off, on loans and leases outstanding (excluding accrued interest receivable) as of the
applicable date of such balance sheet. The aggregate loan balances of Parent Bank in excess of such reserves, in each case as shown on
Parent Financial Statements, are, to the Knowledge of Parent and Parent Bank, collectible in accordance with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_056"></A>3.13<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Financial Capability</U><FONT STYLE="font-size: 10pt"><I>.</I> Parent has a sufficient number of non-outstanding shares of Parent
Common Stock to complete the Merger as contemplated by this Agreement. Parent will have prior to the Effective Time sufficient funds to
pay the aggregate Cash Consideration and the Option Consideration.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_057"></A>3.14<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Community Reinvestment Act Compliance</U><FONT STYLE="font-size: 10pt"><I>.</I> Parent Bank&#8217;s most recent Community Reinvestment
Act rating was &#8220;satisfactory&#8221; or better.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_058"></A>3.15<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Other Representations or Warranties</U><FONT STYLE="font-size: 10pt"><I>. </I>Except for the representations and warranties
made by Parent in this ARTICLE III, neither Parent nor any other Person makes any express or implied representation or warranty with respect
to Parent, any of its subsidiaries, or their respective businesses, operations, assets, liabilities, conditions (financial or otherwise)
or prospects, and Parent hereby disclaims any such other representations or warranties. In particular, without limiting the foregoing
disclaimer, neither Parent nor any other Person makes or has made any representation or warranty to the Company or any of its Affiliates
or Representatives with respect to: (i) any financial projection, forecast, estimate, budget or prospective information relating to Parent,
any of its subsidiaries or their respective businesses; or (ii) except for the representations and warranties made by the Company in this
ARTICLE III, any oral or written information presented to the Company or any of its Affiliates or Representatives in the course of their
due diligence investigation of Parent, the negotiation of this Agreement or in the course of the transactions contemplated hereby. Parent
acknowledges and agrees that neither the Company nor any other Person has made or is making any express or implied representation or warranty
other than those contained in ARTICLE II.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="appa_059"></A><B>ARTICLE IV<BR>
AGREEMENTS AND COVENANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_060"></A>4.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conduct of the Company&#8217;s Business</U><FONT STYLE="font-size: 10pt">. Except as may be (w) required by Applicable Law or
any Governmental Authority, (x) consented to by Parent (which consent shall not be unreasonably withheld, conditioned or delayed), (y)
required or explicitly permitted by the terms of this Agreement, or (z) set forth on <U>Schedule 4.1</U>, the Company shall (i) conduct
its business in the Ordinary Course of Business in all material respects, (ii) use commercially reasonable efforts to maintain and preserve
intact its business organization and advantageous business relationships and (iii) take no action that is intended to or would reasonably
be expected to materially adversely affect or materially delay the ability of the Company or Parent to obtain any of the Requisite Regulatory
Approvals, to perform its covenants and agreements under this Agreement or to consummate the Merger. Without limiting the generality of
the foregoing, except as may be required by Applicable Law or any Governmental Authority, required or explicitly permitted by the terms
of this Agreement, or set forth on <U>Schedule 4.1</U>, the Company will not, and will not permit any Company Subsidiary to, without the
prior written consent (including by electronic mail) of Parent: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>change the articles or certificate of incorporation or by-laws of the Company, the charter or by-laws of the Bank, or the certificate
of organization or operating agreement or by-laws of any other Company Subsidiary, or any other governing document; <U>provided</U>, <U>however</U>,
the Company shall use commercially reasonable efforts to cause Pine Valley to dissolve or merge into the Company prior to the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>issue, sell, pledge, transfer, dispose of, redeem or encumber any equity securities, effect any split, combination, subdivision,
reclassification or redemption of any outstanding equity securities, or otherwise change its capitalization as it exists on the date of
this Agreement, or issue, grant, or sell any options, equity appreciation or purchase rights, warrants, conversion rights or other rights,
securities or commitments obligating it to issue, sell or register any equity securities, or any securities or obligations convertible
into, or exercisable or exchangeable for, any equity securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>increase the compensation of officers or key employees, pay any bonuses except in the Ordinary Course of Business, or hire any
employee with an annual salary in excess of $100,000;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>become a party to, establish, amend, commence participation in, terminate or commit itself to the adoption of any Company Benefit
Plan for the benefit of any Employee (or newly hired employees), director or shareholder; accelerate the vesting of or lapsing of restrictions
with respect to any long-term incentive compensation under any Company Benefit Plans;&nbsp;cause the funding of any rabbi trust or similar
arrangement or take any action to fund or in any other way secure the payment of compensation or benefits under any Company Benefit Plan;
or&nbsp;materially change any actuarial assumptions used to calculate funding obligations with respect to any Company Benefit Plan that
is required by Applicable Law to be funded or change the manner in which contributions to such plans are made or the basis on which such
contributions are determined, except as may be required by GAAP or any Applicable Law;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(i) <FONT STYLE="font-family: Times New Roman, Times, Serif">enter into any new credit or new lending relationships greater than
$1,000,000 that would require an exception to the Bank&#8217;s formal loan policy as in effect as of the date of this Agreement or that
are not in strict compliance with the provisions of such loan policy; or (ii)&nbsp;other than incident to a reasonable loan restructuring,
extend additional credit to any Person and any director or officer of, or any owner of a material interest in, such Person (any of the
foregoing with respect to a Person being referred to as a &#8220;<U>Borrowing Affiliate</U>&#8221;) if such Person or such Borrowing Affiliate
is the obligor under any indebtedness to the Company or any Company Subsidiary which constitutes a nonperforming loan or against any part
of such indebtedness the Company or any Company Subsidiary has established loss reserves or any part of which has been charged-off by
the Company or any Company Subsidiary;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>declare or pay any dividends or other distributions on any equity securities; <U>provided</U>, <U>however</U>, subject to <U>Section
4.19</U>, that the Company may pay customary, ordinary course dividends on shares of Company Common Stock following January 1, 2022 if
the Closing shall not have occurred prior to the customary, ordinary course payment date for such dividends;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>fail to use commercially reasonable efforts to maintain present insurance coverage in respect of their properties and businesses;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
incur or guarantee any indebtedness for borrowed money, </FONT>except with respect to indebtedness to the Federal Home Loan Bank, trade
payables and similar liabilities and obligations incurred in the Ordinary Course of Business;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
maintain an allowance for loan and lease losses which is not adequate in all material respects under the requirements of GAAP to provide
for possible losses, net of recoveries relating to Loans previously charged off, on Loans and leases outstanding (excluding accrued interest
receivable);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(j)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>enter into any employment, consulting or similar agreements that are not terminable by the Company or such Company Subsidiary,
as applicable, on 30 days&#8217; or fewer notice without penalty or obligation, or terminate the employment of any officer or other key
employee of the Company or a Company Subsidiary thereof without first notifying Parent;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(k)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>take any action that would result in a termination, partial termination, curtailment, discontinuance of a Benefit Plan or merger
of any Benefit Plan into another plan or trust;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(l)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>fail to file all Tax Returns in a timely manner, make any application for or consent to any extension of time for filing any Tax
Return or any extension of the period of limitations applicable thereto, change any of its accounting methods for federal and state income
tax purposes or make or change any material Tax elections;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(m)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>implement or adopt any change in its accounting principles, practices or methods, other than as may be required by GAAP or applicable
regulatory accounting requirements;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(n)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make any expenditure for fixed assets in excess of $100,000 for any single item, or $250,000 in the aggregate, or enter into leases
of fixed assets having an annual rental in excess of $100,000 in the aggregate;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(o)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>incur any liabilities or obligations, make any commitments or disbursements, acquire (other than by way of foreclosures or acquisitions
of control in a fiduciary or similar capacity or in satisfaction of debts previously contracted in good faith, in each case in the Ordinary
Course of Business) or dispose of any property or asset, make any contract or agreement, or engage in any transaction except in the Ordinary
Course of Business consistent with prudent banking practices and the current policies of the Company and the Company Subsidiaries;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(p)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>amend or waive the material terms of, fail to do anything that will cause a breach by the Company or such Company Subsidiary of,
or default by the Company or such Company Subsidiary under, or enter into, any Material Contract, any material restriction on the ability
of the Company or such Company Subsidiary to conduct its business as it is presently being conducted, or any Contract or other binding
obligation relating to any class of Company Capital Stock or rights associated therewith or any outstanding instrument of indebtedness;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(q)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>engage or agree to engage in any &#8220;covered transaction&#8221; within the meaning of Sections 23A or 23B of the Federal Reserve
Act (without regard to the applicability of any exemptions contained in Section 23A), unless the Bank has complied with Sections 23A and
23B of the Federal Reserve Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(r)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>enter into any new line of business or materially change its lending, investment, underwriting, risk and asset liability management
and other banking and operating policies, except as required by Applicable Law or requested by any Governmental Authority;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(s)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> settle any action, suit, claim or proceeding against it, except for an action, suit, claim or proceeding that is settled in an
amount and for consideration not in excess of $100,000 and that would not (i)&nbsp;impose any material restriction on the business of
the Company or such Company Subsidiary or (ii)&nbsp;create precedent for claims that is reasonably likely to be material to it;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(t)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>make application for the opening, relocation or closing of any, or open, relocate or close any, branch office, loan production
office or other significant office or operations facility; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(u)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>agree to take, make any commitment to take, or adopt any resolutions of the Company Board in support of, any of the actions prohibited
by this <U>Section 4.1</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_061"></A>4.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conduct of Parent&#8217;s Business</U> <FONT STYLE="font-size: 10pt"><I>. </I>Except as may be (w) required by Applicable Law
or any Governmental Authority, (x) consented to by the Company (which consent shall not be unreasonably withheld, conditioned or delayed),
(y) required or explicitly permitted by the terms of this Agreement, or (z) set forth on <U>Schedule 4.2</U>, Parent shall (i) conduct
its business in the Ordinary Course of Business in all material respects, (ii) use commercially reasonable efforts to maintain and preserve
intact its business organization and advantageous business relationships and (iii) take no action that is intended to or would reasonably
be expected to materially adversely affect or materially delay the ability of the Company or Parent to obtain any of the Requisite Regulatory
Approvals, to perform its covenants and agreements under this Agreement or to consummate the Merger. Without limiting the generality of
the foregoing, except as may be required by Applicable Law or any Governmental Authority, required or explicitly permitted by the terms
of this Agreement, or set forth on <U>Schedule 4.2</U>, without the prior written consent of the Company which shall not be unreasonably
withheld, conditioned or delayed:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Parent shall not amend its certificate of incorporation or by-laws or similar governing documents of any of its subsidiaries, in
a manner that would materially and adversely affect the benefits of the Merger to the shareholders of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Parent shall not implement or adopt any change in its accounting principles, practices or methods, other than as may be required
by GAAP or applicable regulatory accounting requirements; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Parent shall not agree to take, make any commitment to take, or adopt any resolutions of the Parent Board in support of, any of
the actions prohibited by this <U>Section 4.2</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_062"></A>4.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Access to Information and Premises</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall provide Parent and its Representatives full access, during normal business hours and on reasonable advance notice
to the Company, to further information (to the extent permissible under Applicable Law) and the Company&#8217;s and Company Subsidiaries&#8217;
premises for purposes of (i) observing the Company&#8217;s and the Company Subsidiaries&#8217; business activities and operations and
to consult with their officers and employees regarding the same on an ongoing basis to verify compliance by the Company and the Company
Subsidiary with all terms of this Agreement, and (ii) making all necessary preparations for conversion of the Bank&#8217;s IT Assets;
<U>provided</U>, <U>however</U>, that the foregoing actions shall not (x) unduly interfere with the business operations of the Company
or the Company Subsidiaries, (y) require the disclosure of any matter that is subject to attorney-client, attorney work product or other
legal privilege (provided, however, that the Company shall use its reasonable best efforts to allow for such access or disclosure to the
maximum extent that does not result in a loss of any such attorney-client, attorney work product or other legal privilege) or (z) require
the disclosure of any matter that would violate Applicable Law or any duty. From the date hereof until the earlier of the Closing Date
or the termination of this Agreement in accordance with its terms, the Company shall promptly provide to Parent a copy of each report,
schedule, registration statement and other document filed, furnished or received by it during such period pursuant to the requirements
of federal and state banking laws or federal or state securities laws, and a copy of each report filed by it or any Company Subsidiaries
with any Governmental Authority; in each case other than portions of such documents relating to confidential supervisory or examination
materials or the disclosure of which would violate any Applicable Law. The Company shall also provide, and shall cause each Company Subsidiary
to provide, to Parent all information provided to the board of directors of such Persons, or to the members of such board&#8217;s committees,
in connection with all meetings of such board of directors or committees thereof, or otherwise provided to such directors or members,
and to provide any other financial reports or other analysis prepared for senior management of the Company or any Company Subsidiary;
in each case other than portions of such documents: (1)&nbsp;relating to confidential supervisory or examination materials, (2)&nbsp;the
disclosure of which would violate any Applicable Law, or (3)&nbsp;the disclosure of which would, in the reasonable judgment of the Company&#8217;s
outside counsel, result in the waiver of the attorney-client privilege.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Parent will use such information as is provided to it by the Company or the Company Subsidiaries, or Representatives thereof, solely
for the purpose of conducting business, legal and financial reviews of the Company and the Company Subsidiaries and for such other purposes
as may be related to this Agreement, and Parent will, and will direct all of its agents, employees and advisors to, maintain the confidentiality
of all such information in accordance with the terms of the letter agreement regarding confidentiality entered into by and between the
Company and Parent dated December 6, 2020 (the &#8220;<U>Confidentiality Agreement</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_063"></A>4.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Regulatory Filings of Parent</U><FONT STYLE="font-size: 10pt"><I>. </I>Within 45 days following execution and delivery of this
Agreement, or as soon as is practical thereafter, Parent will file the Federal Reserve Application and the Parent will file the MO DOF
Application, and each such Party shall take all other appropriate actions necessary to obtain the regulatory approvals referred to in
<U>Section 6.4</U> or <U>Section 7.4</U> hereof, (other than those to be obtained by the Commission, which are subject of <U>Section 4.5</U>),
and the Company and the Company Subsidiaries will use all reasonable and diligent efforts to assist in obtaining all such approvals. The
obligation of Parent to take all appropriate actions shall not be construed as including an obligation to accept any terms of or conditions
to a consent, authorization, order, or approval of, or any exemption by, any Governmental Authority or other party that are not acceptable
to Parent, in its sole reasonable discretion, or to change the business practices of Parent or any of its subsidiaries in a manner not
acceptable to Parent, in its sole reasonable discretion. In advance of filing any application for such regulatory approval, Parent shall
provide the Company and its counsel with a copy of such application (but excluding any information contained therein regarding Parent
and its business or operations for which confidential treatment has been requested) and provide an opportunity to comment thereon, and
thereafter shall promptly advise the Company and its counsel of any material communication received by Parent or its counsel from any
Governmental Authority with respect to such application.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_064"></A>4.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>SEC Filings</U><FONT STYLE="font-size: 10pt"><I>. </I>As soon as practicable following the date of this Agreement, Parent, at
its own expense, shall prepare and file with the Commission the Registration Statement, which shall include a proxy statement prepared
by Parent and the Company for use in connection with the Company Shareholders Meeting, all in accordance with the rules and regulations
of the Commission and Applicable Law (the &#8220;<U>Proxy Statement</U>&#8221;), and the Company and the Company Subsidiaries, at their
own expense, will assist Parent in preparing the Registration Statement. Parent shall use its commercially reasonable efforts to have
the Registration Statement declared effective under the Securities Act as promptly as practicable after such filing and to keep the Registration
Statement effective as long as is necessary to consummate the Merger and the transactions contemplated thereunder. The Company, at its
own expense, shall cause the Proxy Statement to be mailed to the Company&#8217;s shareholders as promptly as practicable after the Registration
Statement is declared effective under the Securities Act. Parent shall advise the Company promptly after it receives notice of the time
when the Registration Statement has become effective or any supplement or amendment has been filed, the issuance of any stop order, the
suspension of the qualification of Parent Capital Stock issuable in connection with the Merger for offering or sale in any jurisdiction,
or any request by the Commission to amend the Proxy Statement or the Registration Statement or comments thereon and responses thereto
or requests by the SEC for additional information, and the Company will advise Parent promptly after it receives notice of any request
by the Commission to amend the Proxy Statement or comments thereon and responses thereto or requests by the Commission for additional
information. The Parties shall use reasonable and diligent efforts to respond (with the assistance of the other Party) as promptly as
practicable to any comments of the Commission with respect thereto. If prior to the Effective Time any event occurs with respect to Parent
or its subsidiaries, or the Company or any Company Subsidiary, respectively, or any change occurs with respect to information supplied
by or on behalf of Parent or the Company, respectively, for inclusion in the Proxy Statement or the Registration Statement that, in each
case, is required to be described in an amendment of, or a supplement to, the Proxy Statement or the Registration Statement, Parent or
the Company, as applicable, shall promptly notify the other of such event, and Parent or the Company, as applicable, shall cooperate in
the prompt filing with the Commission of any necessary amendment or supplement to the Proxy Statement and the Registration Statement and,
as required by Applicable Law, in disseminating the information contained in such amendment or supplement to Parent&#8217;s stockholders
and the Company&#8217;s shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_065"></A>4.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Meeting</U><FONT STYLE="font-size: 10pt"><I>. </I>As soon as practicable following the date the Registration Statement is declared
effective by the Commission, the Company shall duly call, give notice of, convene and hold a meeting of its shareholders for the purpose
of approving the Merger and the transactions contemplated hereby, in accordance with the Company&#8217;s articles of incorporation, its
by-laws and the GBCLM (the &#8220;<U>Company Shareholders Meeting</U>&#8221;). Subject to <U>Section 4.8</U>, the Company and the Company
Board will use their reasonable best efforts to obtain from its shareholders the Company Shareholder Approval, including by the Company
Board recommending that its shareholders approve the Merger (the &#8220;<U>Company Recommendation</U>&#8221;), and the Company and the
Company Board will not withhold, withdraw, qualify or adversely modify (or publicly propose or resolve to withhold, withdraw, qualify
or adversely modify) the Company Recommendation (a &#8220;<U>Company Adverse Recommendation</U>&#8221;)). Notwithstanding any other provision
hereof, the Company shall have the right to postpone or adjourn the Company Shareholders Meeting: (i) by no more than 30 days if on a
date for which the Company Shareholders Meeting is scheduled, the Company has not received proxies representing a sufficient number of
shares of Company Common Stock to obtain the Company Shareholder Approval; or (ii) to the extent additional time is reasonably necessary
for the filing and distribution of any supplemental or amended disclosure that the Company Board has determined in good faith (after consultation
with its outside legal counsel) is necessary under Applicable Law and, to the extent required by Applicable Law, for such supplemental
or amended disclosure to be disseminated to and reviewed by the Company&#8217;s shareholders prior to the Company Shareholders Meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_066"></A>4.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Publicity</U><FONT STYLE="font-size: 10pt"><I>.</I> Parent and the Company shall coordinate all publicity relating to the transactions
contemplated by this Agreement and, except as otherwise required by Applicable Law or the rules of NASDAQ, or with respect to employee
meetings, no Party shall issue any press release, publicity statement or other public notice or communication, whether written or oral,
relating to this Agreement or any of the transactions contemplated hereby without obtaining the prior consent of the other Parties, which
consent shall not be unreasonably withheld, conditioned or delayed. The Company shall obtain the prior consent (which shall not be unreasonably
withheld, conditioned or delayed) of Parent to the content of any communication to the Company&#8217;s shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_067"></A>4.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Conduct Inconsistent with this Agreement</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall not, and shall cause the Company Subsidiaries to not, during the term of this Agreement, directly or indirectly,
solicit, encourage or facilitate inquiries or proposals or enter into any agreement with respect to, or initiate or participate in any
negotiations or discussions with any Person (other than Parent and its subsidiaries) concerning, any proposal, indication or offer, including
any proposal, indication or offer from or to the Company&#8217;s shareholders, made by any Person or group (as defined under Rule 13(d)
of the Exchange Act) other than Parent or its subsidiaries and/or affiliates relating to, whether in a single transaction or series of
related transactions, and whether directly or indirectly, any transaction or series of transactions (including any merger, reorganization,
share exchange, consolidation, business combination, tender offer, joint venture, partnership, recapitalization, dissolution, liquidation
or similar direct or indirect transaction involving the (i) acquisition, license or purchase of assets of the Company and/or the Company
Subsidiaries equal to fifteen percent or more of the consolidated assets of the Company and the Company Subsidiaries or to which fifteen
percent or more of the Company&#8217;s revenues or earnings on a consolidated basis are attributable or (ii) acquisition of beneficial
ownership (as defined under Rule 13(d) of the Exchange Act) of equity interests representing a fifteen percent or greater economic or
voting interest in the Company or tender offer (including a self-tender offer) or exchange offer that, if consummated, would result in
any Person or group (as defined under Rule 13(d) of the Exchange Act) beneficially owning equity interests representing a fifteen percent
(in number or voting power) or greater economic or voting interest in the Company (each, an &#8220;<U>Acquisition Proposal</U>&#8221;),
or furnish any information to any Person proposing or seeking an Acquisition Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding the foregoing, prior to obtaining the Company Shareholder Approval, in the event that the Company Board determines
in good faith and after consultation with outside counsel, that in light of an Acquisition Proposal, it is necessary to provide such information
or engage in such negotiations or discussions in order to act in a manner consistent with such Board&#8217;s fiduciary duties, the Company
Board may, in response to an Acquisition Proposal that did not result from a breach of <U>Section 4.8(a)</U> and that constitutes or is
reasonably expected to result in a Superior Acquisition Proposal, subject to its compliance with <U>Section 4.8(b)</U>, (i) furnish information
with respect to the Company or any Company Subsidiary to such Person making such Acquisition Proposal pursuant to a customary confidentiality
agreement that is no less restrictive than the Confidentiality Agreement <FONT STYLE="font-family: Times New Roman, Times, Serif">(subject
to the requirement that any such information not previously provided to Parent shall be promptly furnished to Parent) </FONT>and (ii)
participate in discussions or negotiations regarding such Acquisition Proposal and/or (iii) terminate this Agreement in order to concurrently
enter into an agreement with respect to such Superior Acquisition Proposal; <U>provided</U>, <U>however</U>, that (A) prior to terminating
this Agreement pursuant to this <U>Section 4.8</U>, the Company shall give Parent at least five days&#8217; notice thereof, attaching
any letter of intent, memorandum of understanding, agreement in principle, acquisition agreement, merger agreement, option agreement,
joint venture agreement, partnership agreement or other similar agreement (an &#8220;<U>Alternative Acquisition Agreement</U>&#8221;)
relating to such Superior Acquisition Proposal (or, if applicable, the most current draft thereof), which notice need only be given once
with respect to any Superior Acquisition Proposal, unless such Superior Acquisition Proposal is modified in any material respect, in which
case the three day period referred to herein shall be 48 hours, and (B) if, within such five day period (or where applicable, 48 hour
period), Parent makes an offer that the Company Board determines in good faith is more favorable to the shareholders of the Company, from
a financial point of view, than such Superior Acquisition Proposal (taking into account, among other things, (I) the terms of such offer
and (II) such legal, financial, regulatory, timing and other aspects of such offer which the Company Board deems relevant), and agrees
in writing to all adjustments in the terms and conditions of this Agreement as are necessary to reflect such offer, the Company&#8217;s
notice of termination with respect to such Superior Acquisition Proposal shall be deemed to be rescinded and of no further force and effect
and, if the Company or any Company Subsidiary has entered into a Superior Proposal Agreement, it shall promptly terminate such agreement
(it being agreed that the Company will cause any Alternative Acquisition Agreement entered into prior to the expiration of such five day
period (or where applicable 48 hour period) to include a provision permitting such termination). A &#8220;<U>Superior Acquisition Proposal</U>&#8221;
shall mean any Acquisition Proposal containing terms which the Company Board determines in its good faith judgment (based on the advice
of an independent financial advisor) to be more favorable to the Company&#8217;s shareholders than the Merger and for which financing,
to the extent required, is then committed or which, in the good faith judgment of the Company Board, is reasonably capable of being obtained
by such third party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In addition to the obligations of the Company set forth in <U>Section 4.8(a)</U> and <U>Section 4.8(b)</U>, the Company shall immediately
advise Parent orally and in writing of any request for information or of any Acquisition Proposal, the material terms and conditions of
such request or Acquisition Proposal and the identity of the Person making such request or Acquisition Proposal. The Company shall keep
Parent informed of the status and details (including amendments or proposed amendments) of any such request or Acquisition Proposal, including
the status of any discussions or negotiations with respect to any Superior Acquisition Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall, and shall cause each of its officers, directors, employees, consultants, accountants, brokers, financial advisors,
legal counsel, agents, advisors and other representatives (the &#8220;<U>Representatives</U>&#8221;) of the Company and the Company Subsidiaries
to, cease immediately and cause to be immediately terminated all soliciting activities, discussions and negotiations and access to nonpublic
information with, to or by any Person (other than Parent) regarding any proposal that constitutes, or could reasonably be expected to
lead to, any Acquisition Proposal. Except as expressly permitted pursuant to <U>Section 4.8(b)</U>, the Company shall not, and shall cause
its Representatives not to, at any time after the execution hereof, continue or resume any such soliciting activities, discussions, negotiations
or access to nonpublic information with, by or to any Person (other than Parent) with which the Company entered into a confidentiality,
standstill or similar agreement before the execution and delivery hereof or had discussions or negotiations before the execution and delivery
hereof regarding any proposal that constituted, or could reasonably have been expected to lead to, any Acquisition Proposal (any such
Persons and their affiliates and Representatives being referred to as &#8220;<U>Prior Company Bidders</U>&#8221;). The Company shall promptly
request that each Prior Company Bidder in possession of nonpublic information that was furnished by or on behalf of the Company or any
Company Subsidiary in connection with its consideration of any potential Acquisition Proposal return or destroy all such nonpublic information
heretofore furnished to such Prior Company Bidder and immediately terminate all physical and electronic data room access previously granted
to any such Prior Company Bidder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_068"></A>4.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Loan Charge-Off; Pre-Closing Loan Review</U><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall cause the Bank, prior to the Closing Date, (i) to write off all Loans of the Bank that are required to be written
off by the Bank&#8217;s regulators or that, in conformity with past practices and policies of the Bank and GAAP, should be written off
as Loan losses and (ii) to write down potential Loan losses in conformity with past practices and policies of the Bank and GAAP. Any such
write down shall not have any effect on, or be deemed to result in a breach of, the representations and warranties under <U>Section 2.8</U>
made by the Company as of the date of this Agreement and shall not be deemed to result in a Material Adverse Effect on the Company, but
shall be taken into account in determining the Consolidated Shareholders&#8217; Equity for purposes of <U>Section 1.4(d)</U>; and nothing
in this <U>Section&nbsp;4.9(a)</U> shall require the Company to make any additional provision to the Bank&#8217;s reserve for loan losses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall cause the Bank to make available to Parent the files maintained by the Bank with respect to, and information
regarding the status of, each Loan contained in the Loan portfolio of the Bank, as of a date not more than 15 days prior to the Closing
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_069"></A>4.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Director and Officer Insurance Coverage</U><FONT STYLE="font-size: 10pt"><I>.</I> Parent agrees to provide each of the directors,
officers, members or trustees of the Company and the Company Subsidiaries who continue to hold such positions after the Effective Time
substantially the same insurance coverage against personal liability for actions and omissions prior to the Effective Time no less favorable
than that which is provided to current directors and officers of Parent and its subsidiary bank. Without limiting the generality of the
preceding sentence, on or prior to the Closing Date, Parent shall procure and maintain (so long as the premium or premiums do not exceed
250% of the amount of the aggregate premiums paid by the Company for the current policy term for such purpose) for the benefit of the
Company and the Company Subsidiaries (including their respective successors) and individuals who were officers, directors, members or
trustees of the Company or Company Subsidiaries (but only in their capacity as such) immediately prior to Closing, a tail policy or policies
covering a period of six years following the Effective Time and providing coverages equivalent to the level and scope of directors&#8217;
and officers&#8217; liability and other professional insurance coverages as set forth in the Company&#8217;s and the Company Subsidiaries&#8217;
current directors&#8217; and officers&#8217; liability and other professional insurance policies in effect as of the Closing. Notwithstanding
anything to the contrary herein, and regardless of the purchase of insurance coverage under this <U>Section 4.10</U>, Parent acknowledges
and agrees that, after Closing, individuals who were officers, directors, members or trustees of the Company and the Company Subsidiaries
prior to Closing shall be held harmless and continue to be entitled to exculpation, indemnification and advancement of expenses for acts
and omissions occurring prior to Closing, to the extent of any exculpation, indemnification or advancement of expenses provided to such
individuals on the date hereof under the Applicable Law where the Company or the Company Subsidiaries are chartered or organized, and
under the organization documents of the Company or the Company Subsidiaries, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_070"></A>4.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Interim Financial Statements</U><FONT STYLE="font-size: 10pt"><I>.</I> Prior to the Closing Date, the Company shall deliver
to Parent a monthly balance sheet, income statement and statement of shareholder&#8217;s equity of the Company and each Company Subsidiary
as of the end of each month as promptly as practicable after they become available. Such monthly financial statements shall be prepared
consistent with past practice and in conformity in all material respects with GAAP (excluding footnote disclosure) applied on a basis
consistent with the Financial Statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_071"></A>4.12<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Dissent Process</U><FONT STYLE="font-size: 10pt"><I>. </I>The Company will give Parent prompt notice of any demands for appraisal
for any shares of Company Common Stock, any attempted withdrawals of such demands and any other notice given or instrument served relating
to the exercise of dissenters&#8217; rights granted under the GBCLM. Parent will have the right to participate in all negotiations and
proceedings relating thereto, except as otherwise required by law. The Company will not make any payment with respect to, or settle or
offer to settle, any appraisal demands without Parent&#8217;s prior written consent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_072"></A>4.13<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Section 368(a) Reorganization</U><FONT STYLE="font-size: 10pt">. Both prior to and after the Closing, none of the Parties shall
take or cause to be taken any action, or omit to take any action or cause any omission, that would cause the Merger not to qualify as
a reorganization in accordance with Section 368(a) of the Code. The Parties agree to take any and all necessary or advisable steps to
restructure or modify the terms of the transaction contemplated hereby if such steps are necessary or advisable to qualify the transaction
contemplated hereby as a reorganization in accordance with Section 368(a) of the Code; <U>provided</U>, <U>however</U>, that nothing in
this <U>Section 4.13</U> shall be deemed to require the Parties to take any steps that will increase the Merger Consideration.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_073"></A>4.14<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Certain Events</U><FONT STYLE="font-size: 10pt">. During the term of this Agreement, if any Party becomes aware of
any facts, circumstances or of the occurrence or impending occurrence of any event that would reasonably be expected to result in any
of the conditions set forth in ARTICLE VI or ARTICLE VII, as applicable, not being satisfied, then such Party shall promptly give detailed
written notice thereof to the other Party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_074"></A>4.15<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Reasonable and Diligent Efforts</U><FONT STYLE="font-size: 10pt">. The Parties shall use their respective commercially reasonable
efforts in good faith to satisfy the various conditions to Closing and to consummate the Merger as soon as practicable. No Party will
intentionally take or intentionally permit to be taken any action that would be in breach of the terms or provisions of this Agreement
(including any action that would impair or impede the timely obtainment of the regulatory approvals referenced in <U>Section 6.4</U> or
<U>Section 7.4</U>) or that would cause any of the representations contained herein to be or become untrue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_075"></A>4.16<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Shareholder Litigation</U><FONT STYLE="font-size: 10pt">. Each of the Company and Parent shall give the other the reasonable
opportunity to consult concerning the defense of any shareholder litigation against the Company or Parent, as applicable, or any of their
respective directors or officers relating to the transactions contemplated by this Agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_076"></A>4.17<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Section 16 Matters</U><FONT STYLE="font-size: 10pt">. Before the Effective Time, Parent shall cause any acquisitions of Parent
Common Stock resulting from the transactions contemplated by this Agreement by each individual who will become subject to the reporting
requirements of Section 16(a) of the Exchange Act with respect to Parent to be exempt under Rule 16b-3 promulgated under the Exchange
Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_077"></A>4.18<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Stock Exchange Listing</U><FONT STYLE="font-size: 10pt"><I>.</I> To the extent required, Parent shall file with NASDAQ a notification
form for the listing of all shares of Parent Common Stock included in the Parent Stock Consideration, and shall use its commercially reasonable
efforts to cause such shares of Parent Common Stock included in the Parent Stock Consideration to be listed on NASDAQ, subject to official
notice of issuance, prior to the Effective Time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_078"></A>4.19<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Dividends</U><FONT STYLE="font-size: 10pt">. After the date of this Agreement, each of Parent and the Company shall coordinate
with the other the declaration of any dividends in respect of Parent Common Stock and Company Common Stock (in the event the Company is
permitted to pay any such dividend pursuant to <U>Section 4.1</U>) and the record dates and payment dates relating thereto, it being the
intention of the Parties hereto that holders of Company Common Stock shall not receive two dividends in any period with respect to their
shares of Company Common Stock and any shares of Parent Common Stock any such holder receives in exchange therefor in the Merger. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_079"></A>4.20<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Takeover Statutes</U><FONT STYLE="font-size: 10pt"><I>. </I>No Party shall take any action that would cause any anti-takeover
statute to become applicable to this Agreement, the Voting Agreement or any of the transactions contemplated hereby or thereby, and each
party shall take all necessary steps to exempt (or ensure the continued exemption of) the Merger and the other transactions contemplated
hereby from any applicable anti-takeover statute now or hereafter in effect.&nbsp; If any &#8220;moratorium,&#8221; &#8220;control share,&#8221;
&#8220;fair price,&#8221; &#8220;affiliate transaction,&#8221; &#8220;business combination&#8221; or other anti-takeover Applicable Law
is or may become applicable to the Merger, the Parties shall use their respective commercially reasonable efforts to&nbsp;take such actions
as are reasonably necessary so that the transactions contemplated hereby may be consummated as promptly as practicable pursuant to the
terms of this Agreement, and otherwise take all such actions as are reasonably necessary to eliminate or minimize the effects of any such
Applicable Law on the Merger and the transactions contemplated hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><A NAME="appa_080"></A>ARTICLE V<BR>
EMPLOYEE BENEFIT MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_081"></A>5.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Benefit Plans</U><FONT STYLE="font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Effective as of the Closing Date, and in the discretion of Parent, each full-time Employee shall either continue under the Company
Benefit Plans or become eligible for and entitled to participate in Parent&#8217;s or Parent Bank&#8217;s benefit plans on the same terms
and subject to the same conditions as all other similarly-situated employees of Parent and its subsidiaries. To the extent Employees participate
in any Parent or Parent Bank benefit plans, Parent shall make, or cause Parent Bank to make, commercially reasonable efforts to ensure
that Employees shall be given credit for amounts paid under a corresponding Company Benefit Plan during the plan year in which the Closing
occurs for purposes of applying deductibles, co-payments and out-of-pocket maximums as though such amounts had been paid in accordance
with the terms and conditions of such Parent benefit plan for the plan year in which the Closing occurs. Parent shall use, and cause Parent
Bank to use, its commercially reasonable efforts to cause any pre-existing condition limitations (as administered in accordance with Applicable
Law) under Parent&#8217;s and Parent Bank&#8217;s medical benefit plans to be waived to the extent such conditions have been waived under
the Company&#8217;s health insurance plans. For purposes of determining eligibility to participate in and, where applicable, vesting under
Parent&#8217;s or Parent Bank&#8217;s applicable retirement savings plan and employee stock purchase plan, Parent&#8217;s or Parent Bank&#8217;s
applicable short-term disability plans, and applicable vacation policy, each Employee shall receive past service credit for his or her
prior employment with the Company or Company Subsidiary as if such Employee had then been employed by Parent or Parent Bank. Parent and
Parent Bank reserve the right to change or terminate their employee benefit plans at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall take (or cause to be taken), all actions necessary or appropriate to terminate, effective as of the day immediately
preceding the Closing Date, and subject to the Closing occurring, the Company Benefit Plans set forth on <U>Schedule 5.1(b)</U>. The Company
shall deliver to Parent, at least five Business Days prior to the Closing Date, evidence that the Company Board has taken, or will take
prior to the Closing Date, the necessary corporate action to terminate such Company Benefit Plans (the form and substance of which resolutions
shall be subject to review and approval of Parent, which approval shall not be unreasonably withheld), effective no later than the date
required by this <U>Section 5.1(b)</U>, and where necessary such termination action shall provide for settlement and distribution of benefits
in accordance with the provisions of Treasury regulation Section 1.409A-3(j)(4)(ix)(B).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Following the Effective Time, Parent or the applicable subsidiary of Parent shall cause the Employees to be covered by a severance
plan, pursuant to which plan any Employees who incur a qualifying involuntary termination of employment within twelve months after the
Closing Date will receive severance pay in accordance with the severance pay schedule set forth on <U>Schedule 5.1(c)</U>. Notwithstanding
the foregoing, no Employee eligible to receive severance benefits under an employment or other agreement shall be entitled to participate
in the severance policy described in this <U>Section 5.1(c)</U>. In connection with the foregoing, the Employees eligible to participate
in the severance policy described in this <U>Section 5.1(c)</U> shall receive service credit for years of continuous service with the
Company or any Company Subsidiary for purposes of determining the amount of any severance pay under such policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>No provision of this Agreement is intended to, or does: (i) limit the ability of Company or Company Subsidiary to amend, modify,
terminate, or adopt any benefit or compensation plan, program, policy, contract, agreement or arrangement, (ii) confer on any Person any
right to employment or service or continued employment or service or any term or condition of employment or service, or (iii) limit Company
or Company Subsidiary right to terminate the employment or service of any Person, including any Employee, at any time and for any or no
reason.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_082"></A>5.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Rights or Remedies</U><FONT STYLE="font-size: 10pt">. Nothing in this ARTICLE V shall confer upon any Employee or his or
her legal Representative, any rights or remedies, including any right to employment, or continued employment, for any specified period,
or any nature or kind whatsoever under or by reason of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="appa_083"></A><B>ARTICLE VI<BR>
CONDITIONS PRECEDENT TO<BR>
OBLIGATIONS OF PARENT AND MERGER SUB</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Unless waived by Parent and Merger Sub, Parent and
Merger Sub&#8217;s obligation to consummate the Merger is subject to the fulfillment, on or before the Closing, of each of the following
conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_084"></A>6.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties</U><FONT STYLE="font-size: 10pt">. The representations and warranties of the Company set forth
in this Agreement (other than <U>Section 2.1(a)</U>, <U>Section 2.3(a)</U> and <U>Section 2.4(a)</U>) shall be true and correct (without
giving effect to any limitation as to &#8220;materiality&#8221; or &#8220;Material Adverse Effect&#8221; contained therein) as of the
date of this Agreement and as of the Effective Time as though made on and as of the Effective Time (except that representations and warranties
that by their terms speak specifically as of the date of this Agreement or another date shall be true and correct as of such date), except
where the failure of such representations and warranties to be so true and correct does not have, and would not reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect on the Company; and (ii) the representations and warranties the Company
set forth in <U>Section 2.1(a)</U>, <U>Section 2.3(a)</U> and <U>Section 2.4(a)</U> shall be true and correct as of the date of this Agreement
and the Effective Time as though made on and as of the Effective Time (except that representations and warranties that by their terms
speak specifically as of the date of this Agreement or another date shall be true and correct as of such date) in all material respects.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_085"></A>6.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance of Agreements</U><FONT STYLE="font-size: 10pt">. The Company shall have performed in all material respects all agreements
herein required to be performed by the Company on or before the Effective Time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_086"></A>6.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Closing Certificate</U><FONT STYLE="font-size: 10pt"><I>. </I>The Company shall have delivered to Parent a certificate, dated
as of the Closing Date and signed on behalf of the Company by its chief executive officer or chief financial officer certifying to the
effect that the conditions set forth in <U>Section 6.1</U> and <U>Section 6.2</U> have been satisfied.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_087"></A>6.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Regulatory and Other Approvals</U><FONT STYLE="font-size: 10pt">. Parent shall have obtained the approval of all appropriate
Governmental Authorities of the transactions contemplated by this Agreement and the Merger (other than the Bank Merger) (the &#8220;<U>Requisite
Regulatory Approvals</U>&#8221;), and all required regulatory waiting periods shall have expired.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_088"></A>6.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Approval of Merger and Delivery of Articles of Merger</U><FONT STYLE="font-size: 10pt"><I>.</I> The Company Shareholder Approval
shall have been obtained, and the proper officers of the Company shall have executed and delivered to Parent the Articles of Merger, in
form suitable for filing with the MO SOS and DE SOS, and shall have executed and delivered all such other certificates, statements or
instruments as may be necessary or appropriate to effect such a filing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_089"></A>6.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Injunctions or Restraints; Illegality</U><FONT STYLE="font-size: 10pt">. No order, injunction or decree issued by any court
or agency of competent jurisdiction or other legal restraint or prohibition (an &#8220;<U>Injunction</U>&#8221;) preventing the consummation
of the Merger or any of the other transactions contemplated by this Agreement shall be in effect. No statute, rule, regulation, order,
or decree shall have been enacted, entered, promulgated, or enforced by any Governmental Authority that prohibits or makes illegal the
consummation of the Merger.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_090"></A>6.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Material Adverse Effect</U><FONT STYLE="font-size: 10pt"><I>.</I> Between the date of this Agreement and the Closing Date,
there shall have been no Material Adverse Effect with respect to the Company and the Company Subsidiaries, taken as a whole.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_091"></A>6.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Tax Opinion</U><FONT STYLE="font-size: 10pt"><I>.</I> Parent shall have received a written opinion of Schiff Hardin LLP, tax
counsel to Parent, in form and substance reasonably satisfactory to Parent, dated as of the Closing Date, to the effect that: (a) the
Merger will constitute a reorganization within the meaning of Section 368(a) of the Code and (b) each of the Company and Parent will be
a party to such reorganization within the meaning of Section 368(b) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_092"></A>6.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effectiveness of the Registration Statement</U><FONT STYLE="font-size: 10pt"><I>.</I> The Registration Statement shall have
become effective with respect to the shares of Parent Common Stock to be issued in the Merger, no stop orders suspending the effectiveness
of such Registration Statement shall have been issued, and no proceeding for that purpose shall have been instituted or threatened in
writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_093"></A>6.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Closing Balance Sheet</U><FONT STYLE="font-size: 10pt"><I>. </I>Prior to the Closing Date, the Company shall deliver to Parent
a consolidated balance sheet for the Company and the Company Subsidiaries as of the last day of the month preceding the Closing Date,
or as of three Business Days prior to the Closing Date if the Closing Date is a day that is more than three Business days following the
last day of the preceding month, prepared in conformity with past practices and policies of the Company and the Company Subsidiaries,
and in accordance with GAAP applied on a basis consistent with the preparation of the Interim Financial Statements (the &#8220;<U>Closing
Balance Sheet</U>&#8221;), together with a calculation of the Consolidated Shareholders&#8217; Equity. Parent shall have an opportunity
to review and comment on the Closing Balance Sheet prior to the Closing Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_094"></A>6.11<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Consents</U><FONT STYLE="font-size: 10pt"><I>.</I> The Company shall have obtained or caused to be obtained (a) all written
consents required under <U>Section 2.5</U>, and (b) all other written consents, permissions and approvals as required under any agreements,
contracts, appointments, indentures, plans, trusts or other arrangements with third parties required to effect the transactions contemplated
by this Agreement, in each case where failure to obtain such consents, permissions and approvals would have a Material Adverse Effect
on the Company or Parent&#8217;s rights under this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><A NAME="appa_095"></A><B>ARTICLE VII<BR>
CONDITIONS PRECEDENT TO OBLIGATIONS<BR>
OF THE COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">Unless waived by the Company, the Company&#8217;s
obligation to consummate the Merger is subject to the fulfillment, on or before the Closing, of each of the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_096"></A>7.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties; Performance of Agreements</U><FONT STYLE="font-size: 10pt"><I>.</I> The representations and
warranties of Parent and Merger Sub set forth in this Agreement (other than <U>Section 3.1(a)</U>, <U>Section 3.2</U> and <U>Section 3.3(a)</U>)
shall be true and correct (without giving effect to any limitation as to &#8220;materiality&#8221; or &#8220;Material Adverse Effect&#8221;
contained therein) as of the date of this Agreement and as of the Effective Time as though made on and as of the Effective Time (except
that representations and warranties that by their terms speak specifically as of the date of this Agreement or another date shall be true
and correct as of such date), except where the failure of such representations and warranties to be so true and correct does not have,
and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on Parent; and (ii) the representations
and warranties of Parent and Merger Sub set forth in <U>Section 3.1(a)</U>, <U>Section 3.2</U> and <U>Section 3.3(a)</U> shall be true
and correct as of the date of this Agreement and the Effective Time as though made on and as of the Effective Time (except that representations
and warranties that by their terms speak specifically as of the date of this Agreement or another date shall be true and correct as of
such date) in all material respects.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_097"></A>7.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Performance of Agreements</U><FONT STYLE="font-size: 10pt">. Parent and Merger Sub, respectively, shall have performed in all
material respects all agreements herein required to be performed by Parent or Merger Sub on or before the Effective Time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_098"></A>7.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Closing Certificate</U><FONT STYLE="font-size: 10pt"><I>.</I> Parent shall have delivered to the Company a certificate, dated
as of the Closing Date and signed on behalf of Parent by its chief executive officer or chief financial officer certifying to the effect
that the conditions set forth in <U>Section 7.1</U> and <U>Section 7.2</U> have been satisfied.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_099"></A>7.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Regulatory and Other Approvals</U><FONT STYLE="font-size: 10pt">. Parent shall have obtained all Requisite Regulatory Approvals,
all required regulatory waiting periods shall have expired, and there shall be pending on the Closing Date no motion for rehearing or
appeal from such approval or any suit or action seeking to enjoin the Merger or to obtain substantial damages in respect of such transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_100"></A>7.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Approval of Merger and Delivery of Articles of Merger</U><FONT STYLE="font-size: 10pt"><I>.</I> The Company Shareholder Approval
shall have been obtained, and the proper officers of Parent shall have executed and delivered to the Company the Articles of Merger, in
form suitable for filing with the MO SOS and DE SOS, and shall have executed and delivered all such other certificates, statements or
instruments as may be necessary or appropriate to effect such a filing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_101"></A>7.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Injunctions or Restraints; Illegality</U><FONT STYLE="font-size: 10pt">. No Injunction preventing the consummation of the
Merger or any of the other transactions contemplated by this Agreement shall be in effect. No statute, rule, regulation, order, or decree
shall have been enacted, entered, promulgated, or enforced by any Governmental Authority that prohibits or makes illegal the consummation
of the Merger.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_102"></A>7.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Adverse Changes</U><FONT STYLE="font-size: 10pt"><I>. </I>Between the date of this Agreement and the Closing Date, there
shall not have occurred any change or any condition, event, circumstance, fact or occurrence, other than as provided in this Agreement,
that would have a Material Adverse Effect on Parent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_103"></A>7.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Tax Opinion</U> <FONT STYLE="font-size: 10pt"><I>. </I>The Company shall have received a written opinion Armstrong Teasdale
LLP, tax advisor to the Company, in form and substance reasonably satisfactory to the Company, dated as of the Closing Date, to the effect
that: (a) the Merger will constitute a reorganization within the meaning of Section 368(a) of the Code and (b) each of the Company and
Parent will be a party to such reorganization within the meaning of Section 368(b) of the Code.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_104"></A>7.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effectiveness of the Registration Statement</U> <FONT STYLE="font-size: 10pt"><I>. </I>The Registration Statement shall have
become effective with respect to the shares of Parent Common Stock to be issued in the Merger, no stop orders suspending the effectiveness
of such Registration Statement shall have been issued, and no proceeding for that purpose shall have been instituted or threatened in
writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><A NAME="appa_105"></A>ARTICLE VIII<BR>
TERMINATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_106"></A>8.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination</U><FONT STYLE="font-size: 10pt">. This Agreement may be terminated and the Merger may be abandoned at any time
prior to the Effective Time by action taken or authorized by the Parent Board or the Company Board, notwithstanding obtaining the Company
Shareholder Approval, as follows (the date of any such termination, the &#8220;<U>Termination Date</U>&#8221;):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by mutual consent of Parent and the Company in a written instrument;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by either Parent or the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if any Governmental Authority of competent jurisdiction shall have denied any Requisite Regulatory Approval or issued a final nonappealable
order that has the effect of making consummation of the Merger illegal or otherwise preventing or prohibiting consummation of the Merger,
or if any application, filing or notice for a Requisite Regulatory Approval has been withdrawn at the request or recommendation of the
applicable Governmental Authority, unless, in each case, the failure to obtain a Requisite Regulatory Approval shall be the result of
the failure of the Party seeking to terminate this Agreement to perform or observe the covenants and agreements of such party set forth
herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Effective Time shall not have occurred on or before April 28, 2022 (the &#8220;<U>Outside Date</U>&#8221;); <U>provided</U>,
<U>however</U>, that the right to terminate this Agreement under this <U>Section 8.1(b)(ii)</U> shall not be available to a Party whose
failure to fulfill any obligation under this Agreement materially contributed to the failure of the Effective Time to occur on or before
such date;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if the Company Shareholder Approval is not obtained at the Company Shareholders Meeting; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if any state or federal law, rule or regulation is adopted or issued that has become effective and that has the effect of prohibiting
the Merger;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if it is not in material breach of this Agreement, and if (A) any of the representations and warranties of Parent herein are or
become untrue or inaccurate such that the condition set forth in <U>Section 7.1</U> would not be satisfied, or (B) there has been a breach
on the part of Parent of any of its covenants or agreements herein such that the condition set forth in <U>Section 7.2</U> would not be
satisfied, and, in either such case, such breach has not been, or cannot be, cured prior to the earlier of (I) two Business Days prior
to the Outside Date and (II) the date thirty Business Days after notice to Parent; or</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>under the circumstances and to the extent permitted, and subject to the terms and conditions of, <U>Section 4.8</U> and provided
the Termination Fee referenced in <U>Section 8.2(a)</U> shall have been paid by the Company to Parent; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if, at any time during the five Business Day period commencing on the Determination Date, each of the following conditions is satisfied:
(A) the Parent Market Value on the Determination Date is less than $31.42; and (B) (I) the number obtained by dividing (x) the Parent
Market Value on the Determination Date, by (y) the Initial Parent Market Value, is less than (II) the number obtained by subtracting 0.20
from the Index Ratio; subject to the following four sentences. Any such termination shall be effective on the fifteenth Business Day following
the Determination Date; subject to the following three sentences. If the Company elects to exercise its termination right pursuant to
this <U>Section&nbsp;8.1(c)(iii)</U>, it shall give prompt written notice thereof to Parent. During the five Business Day period commencing
with its receipt of such notice, Parent shall have the option to increase the Exchange Ratio to equal the lesser of (x)&nbsp;a quotient,
the numerator of which is equal to the product of Initial Parent Market Value, the Exchange Ratio, and the Index Ratio minus 0.20, and
the denominator of which is equal to the Parent Market Value on the Determination Date; or (y)&nbsp;the quotient determined by dividing
the Initial Parent Market Value by the Parent Market Value on the Determination Date, and multiplying the quotient by the product of the
Exchange Ratio and 0.80. If within such five Business Day period, Parent delivers written notice to the Company that it intends to proceed
with the Merger by paying such additional consideration as contemplated by the preceding sentence, and notifies the Company of the revised
Exchange Ratio, then no termination shall have occurred pursuant to this <U>Section&nbsp;8.1(c)(iii)</U>, and this Agreement shall remain
in full force and effect in accordance with its terms (except that the Exchange Ratio shall have been so modified). For purposes of clarification,
the adjustments to the Exchange Ratio contemplated by <U>Section&nbsp;1.4(d)</U> of this Agreement shall be calculated and applied subsequent
to any adjustment to the Exchange Ratio pursuant to this <U>Section&nbsp;8.1(c)(iii)</U>. If Parent or any company belonging to the Index
declares or effects a stock dividend, reclassification, recapitalization, split-up, combination, exchange of shares or similar transaction
between the date of this Agreement and the Determination Date, the prices for the common stock of such company shall be appropriately
adjusted for the purposes of applying this <U>Section&nbsp;8.1(c)(iii)</U>. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For purposes of this Agreement, the following terms
shall have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<U>Determination Date</U>&#8221; means the
fifteenth Business Day preceding the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<U>Final Index Price</U>&#8221; means the
average of the daily closing value of the Index for the ten consecutive trading days immediately preceding the Determination Date, subject
to adjustment pursuant to the last sentence of <U>Section 8.1(c)(iii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<U>Index</U>&#8221; means the Nasdaq Bank
Index or, if such index is not available, such substitute or similar index as substantially replicates the Nasdaq Bank Index.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<U>Index Ratio</U>&#8221; means the Final
Index Price divided by the Initial Index Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<U>Initial Index Price</U>&#8221; means
the average of the daily closing value of the Index for the ten consecutive trading days immediately preceding the execution of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<U>Initial Parent Market Value</U>&#8221;
means $39.28.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<U>Parent Market Value</U>&#8221; means,
as of any specified date, the average of the daily closing sales prices of a share of Parent Common Stock as reported on the Nasdaq Global
Select Market for the ten consecutive trading days immediately preceding such specified date&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>by Parent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>if it is not in material breach of this Agreement, and if (A) any of the representations and warranties of the Company herein are
or become untrue or incorrect such that the condition set forth in <U>Section 6.1</U> would not be satisfied, or (B) there has been a
breach on the part of the Company of any of its covenants or agreements herein such that the condition set forth in <U>Section 6.2</U>
would not be satisfied, and, in either such case, such breach has not been, or cannot be, cured prior to the earlier of (I) two Business
Days prior to the Outside Date and (II) the date thirty Business Days after notice to the Company; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>prior to the Company Shareholders Meeting, if (A) the Company Board shall have failed to include the Company Recommendation in
the Proxy Statement or shall have effected a Company Adverse Recommendation, (B) the Company Board shall have approved or recommended,
or proposed publicly to approve or recommend, any Acquisition Proposal or any Superior Acquisition Proposal other than this Agreement,
and/or permitted the Company to enter into an Alternative Acquisition Agreement, or (C) a tender offer or exchange offer for outstanding
shares of Company Common Stock shall have been commenced (other than by Parent or its affiliates) and the Company Board recommends that
the shareholders of the Company tender their shares in such tender or exchange offer or within ten Business Days after the commencement
of such tender or exchange offer, the Company Board fails to recommend rejection (or subsequently modifies a recommendation of rejection)
of such offer; or if the Company shall have failed to call the Company Shareholders Meeting in accordance with <U>Section 4.6(a)</U> or
shall have failed to deliver the Proxy Statement and the Registration Statement in accordance with <U>Section 4.5</U> in material breach
of such Sections and such failure shall not be due to any material breach by Parent of its obligations under <U>Section 4.5</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_107"></A>8.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effect of Termination</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding any provision of this Agreement to the contrary, if:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>(A) this Agreement is validly terminated pursuant to <U>Section 8.1(b)(ii)</U>, <U>Section 8.1(b)(iii)</U> or <U>Section 8.1(d)(i)</U>
(following in any such case a breach of <U>Section 4.8</U> by the Company), (B) following the execution and delivery of this Agreement
and in the case of a termination pursuant to <U>Section 8.1(b)(ii)</U> or <U>Section 8.1(d)(i)</U>, prior to such termination, and in
the case of a termination pursuant to <U>Section 8.1(b)(iii)</U>, prior to the Company Shareholders Meeting, any bona fide Acquisition
Proposal (substituting fifty percent for the fifteen percent thresholds set forth in the definition of &#8220;Acquisition Proposal&#8221;)
(a &#8220;<U>Qualifying Transaction</U>&#8221;) shall have been communicated to the Company or a member of the Company Board (whether
or not publicly disclosed) and not withdrawn or otherwise abandoned (and, if publicly disclosed, not publicly withdrawn or otherwise abandoned)
and (C) within twelve months following the termination of this Agreement pursuant to <U>Section 8.1(b)(ii)</U>, <U>Section 8.1(b)(iii)</U>
or <U>Section 8.1(d)(i)</U>, as applicable, such Qualifying Transaction is consummated; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>this Agreement is terminated by the Company pursuant to <U>Section 8.1(c)(ii)</U> or by Parent pursuant to <U>Section 8.1(d)(ii)</U>;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">then in any such event the Company shall pay to Parent (or a Person
designated in writing by Parent) by wire transfer of same-day funds a fee equal to the Termination Fee. &#8220;<U>Termination Fee</U>&#8221;
shall mean an amount equal to $3,090,000. Such payment shall be made, in the case of a termination referenced in clause (i) above, upon
the consummation of any Qualifying Transaction, or in the case of a termination referenced in clause (ii) above, concurrently with the
termination of this Agreement by the Company pursuant to <U>Section 8.1(c)(ii)</U> or within two Business Days after termination of this
Agreement by Parent pursuant to <U>Section 8.1(d)(ii)</U>. For the avoidance of doubt, in no event shall the Company be required to pay
the Termination Fee on more than one occasion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding anything to the contrary in this Agreement, in the circumstances in which the Termination Fee is or becomes payable
pursuant <U>Section 8.2(a)</U>, Parent&#8217;s sole and exclusive remedy (whether at law, in equity, in contract, in tort or otherwise)
against the Company or any of its affiliates with respect to the facts and circumstances giving rise to such payment obligation shall
be payment of the Termination Fee pursuant to <U>Section 8.2(a)</U>, and upon payment in full of such amount, none of Parent or any of
its affiliates nor any other Person shall have any rights or claims against the Company or any of its affiliates (whether at law, in equity,
in contract, in tort or otherwise) under or relating to this Agreement or the transactions contemplated hereby. Notwithstanding anything
to the contrary in this Agreement, if the Company fails promptly to pay Parent any amounts due under this <U>Section 8.2</U>, the Company
shall pay the costs and expenses (including reasonable legal fees and expenses) in connection with any action, including the filing of
any lawsuit or other legal action, taken to collect payment, together with interest on the amount of any unpaid fee or obligation at the
publicly announced prime rate of The Northern Trust Company in effect from time to time from the date such fee or obligation was required
to be paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Parties acknowledge that the agreements contained in this <U>Section 8.2</U> are an integral part of the transactions contemplated
by this Agreement, and that, without these agreements, the Parties would not enter into this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>There shall be deducted from any payments made pursuant to this <U>Section 8.2</U> such amounts as may be required to be withheld
therefrom under the Code or under any provision of U.S. state or local tax law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Party seeking to terminate this Agreement pursuant to <U>Section
8.1</U> (other than <U>Section 8.1(a)</U>) shall give written notice of such termination, including a description in reasonable detail
of the reasons for such termination, to the other Party in accordance with <U>Section 9.3</U>, specifying the provision or provisions
hereof pursuant to which such termination is effected. Except as otherwise provided in this <U>ARTICLE VIII</U>, any valid termination
of this Agreement pursuant <U>to Section 8.1</U> (other than <U>Section 8.1(a)</U>) shall be effective immediately upon the delivery of
notice of the terminating Party to the other Parties hereto. In the event of termination of this Agreement by either Parent or the Company
as provided in <U>Section 8.1</U>, this Agreement shall forthwith become void and have no effect, and none of Parent, the Company, any
of their respective subsidiaries or any of the officers or directors of any of them shall have any liability of any nature whatsoever
hereunder, or in connection with the transactions contemplated hereby; <U>provided</U>, <U>however</U>, that (i) <U>Section 4.3(b)</U>,
<U>Section 8.2</U>, and <U>ARTICLE IX</U> shall survive any termination of this Agreement and (ii) notwithstanding anything to the contrary
contained in this Agreement, neither Parent or the Company shall be relieved or released from any liabilities or damages arising out of
its willful and material breach of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><A NAME="appa_108"></A>ARTICLE IX<BR>
GENERAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_109"></A>9.1<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Confidential Information</U><FONT STYLE="font-size: 10pt">. The Parties each covenant that, in the event the transactions contemplated
by this Agreement are not consummated, each Party will keep in strict confidence and either return or destroy (and certify in writing
as to such destruction) all documents containing any information concerning the properties, business, and assets of the other Parties
that may have been obtained in the course of negotiations or examination of the affairs of the other Parties either prior or subsequent
to the execution of this Agreement (other than such information as shall be in the public domain or otherwise ascertainable from public
or outside sources), except to the extent that disclosure is required by judicial process or Governmental Authorities or to the extent
that retention of such documents is required by Applicable Law, rules or regulations governing record retention.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_110"></A>9.2<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Non-Assignment</U><FONT STYLE="font-size: 10pt">. Neither this Agreement nor any of the rights, interests or obligations of
the Parties under this Agreement shall be assigned by any Party (whether by operation of law or otherwise) without the prior written consent
of the other Parties. Notwithstanding the foregoing, Parent may assign its rights hereunder to another wholly owned subsidiary of Parent.
Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the
Parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_111"></A>9.3<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices</U><FONT STYLE="font-size: 10pt"><I>.</I> All notices, requests, demands, and other communications provided for in this
Agreement shall be in writing and shall be deemed to have been given (a) when delivered in Person, (b) the third (3<SUP>rd</SUP>) Business
Day after being deposited in the United States mail, registered or certified mail (return receipt requested), (c) the first Business Day
after being deposited with Federal Express or any other recognized national overnight courier service, or (d) if delivered by electronic
mail, upon receipt, in each case addressed as follows or at such other address as provided by a Party to the other Parties in accordance
with these procedures:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD>If to the Company or the Bank, addressed to:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">Delta Bancshares Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">2301 Market Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">Saint Louis, Missouri 63103</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; text-indent: 0.5in; padding-left: 1in">Email:</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 74%">John.Dulle@jbt-stl.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 1.5in">Attention:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">John L. Dulle, Executive Vice President</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><I>with a copy to</I>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">Armstrong Teasdale LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">7700 Forsyth Blvd., Suite. 1800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">St. Louis, Missouri 63105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0.5in">Email: pcambridge@atllp.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">Attention: Paul J. Cambridge, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in; text-align: right"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">If to Parent or Merger Sub, addressed to:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: 0in">First Mid Bancshares, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">1421 Charleston Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">Mattoon, Illinois 61938</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; text-indent: 0.5in; padding-left: 1in">Email:</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 74%">JCrowder@firstmid.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 1.5in">Attention:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Jason Crowder, Esq., General Counsel</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><I>with a copy to</I>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">Schiff Hardin LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">233 S. Wacker Drive, Suite 7100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">Chicago, Illinois 60606-6473</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; text-indent: 0.5in; padding-left: 1in">Email:</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 74%">jzgliniec@schiffhardin.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 1.5in">Attention:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Jason Zgliniec, Esq.</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_112"></A>9.4<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Knowledge</U><FONT STYLE="font-size: 10pt">. References in this Agreement to the &#8220;<U>Knowledge</U>&#8221; of a party shall
mean: (a) with respect to a natural Person, the actual knowledge of such Person after his or her reasonable investigation into the subject
matter at issue; (b) with respect to the Company and the Company Subsidiaries, the actual knowledge of the Chief Executive Officer, Chief
Financial Officer and Chief Credit Officer of the Company after their reasonable investigation into the subject matter at issue, and (c)
with respect to Parent, the actual knowledge of the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer of Parent
after their reasonable investigation into the subject matter at issue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_113"></A>9.5<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Interpretation and Definitions</U><FONT STYLE="font-size: 10pt">. The words &#8220;<U>hereof</U>,&#8221; &#8220;<U>herein</U>&#8221;
and &#8220;<U>herewith</U>&#8221; and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement
as a whole. Article, Section, Exhibit and Schedule references are to the Articles, Sections, Exhibits and Schedules of this Agreement
unless otherwise specified. The table of contents and headings contained in this Agreement are for reference purposes only and will not
affect in any way the meaning or interpretation of this Agreement. Whenever the words &#8220;<U>include</U>,&#8221; &#8220;<U>includes</U>,&#8221;
&#8220;<U>including</U>&#8221; or similar expressions are used in this Agreement, they will be understood to be followed by the words
&#8220;<U>without limitation</U>.&#8221; The words describing the singular shall include the plural and vice versa, and words denoting
any gender shall include all genders and words denoting natural Persons shall include corporations, partnerships and other entities and
vice versa. The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event of an ambiguity or question
of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the Parties and no presumption or burden
of proof will arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement. &#8220;<U>Affiliate</U>&#8221;
means, with respect to any Person, any other Person who, directly or indirectly, through one or more intermediaries, controls, is controlled
by, or is under common control with, such Person.&nbsp; The term &#8220;control&#8221; means (a) the ownership of more than 10% of the
voting securities or other voting interest of any Person (including attribution from related parties) or (b) the possession, directly
or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership
of voting securities, by contract or otherwise, and the terms &#8220;controlled by&#8221; and &#8220;under common control with&#8221;
have meanings correlative thereto.&nbsp; For purposes of the foregoing, for all periods prior to the Closing, neither Parent, on the one
hand, nor the Company or the Company Subsidiaries, on the other hand, will be treated as an Affiliate of the other. &#8220;<U>Business
Day</U>&#8221; means a day, other than a Saturday or a Sunday, on which banking institutions in the City of Mattoon, Illinois are required
to be open.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_114"></A>9.6<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Entire Agreement</U><FONT STYLE="font-size: 10pt"><I>.</I> This Agreement, including the Schedules and agreements delivered
pursuant hereto, and the Confidentiality Agreement, set forth the entire understanding of the Parties and supersedes all prior agreements,
arrangements, and communications, whether oral or written. This Agreement shall not be modified or amended other than by written agreement
of the Parties. Captions appearing in this Agreement are for convenience only and shall not be deemed to explain, limit, or amplify the
provisions hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_115"></A>9.7<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Extension; Waiver</U><FONT STYLE="font-size: 10pt">. At any time before the Effective Time, the Parties may (a) extend the time
for the performance of any of the obligations or other acts of the other Parties, (b) waive any inaccuracies in the representations and
warranties contained in this Agreement or in any document delivered pursuant to this Agreement or (c)&nbsp;waive compliance with any of
the agreements or conditions contained in this Agreement. Any agreement on the part of a Party to any such extension or waiver shall be
valid only if set forth in an instrument in writing signed on behalf of such Party. The failure of any Party to this Agreement to assert
any of its rights under this Agreement or otherwise shall not constitute a waiver of such rights. For any matter under this Agreement
requiring the consent or approval of any Party, such consent or approval shall be valid and binding on a Party hereto only if such consent
or approval is delivered in an instrument in writing signed on behalf of such Party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_116"></A>9.8<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Governing Law</U><FONT STYLE="font-size: 10pt">. This Agreement shall be governed by and construed in accordance with the laws
of the State of Missouri, without giving effect to the conflicts of laws principles thereof. Each of the Parties hereto (a) consents to
submit itself to the personal jurisdiction of any Missouri state court located in St. Louis County, Missouri or, in connection with any
matter requiring Federal court jurisdiction, any Federal court located in the Eastern District of Missouri (or any court with appellate
jurisdiction therefrom) in the event any dispute arises out of this Agreement or the transactions contemplated hereby, (b) agrees that
it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (c) agrees
that it will not bring any action relating to this Agreement or the transactions contemplated hereby in any court other than any Missouri
state court located in Coles County, Illinois or any Federal located in the Eastern District of Missouri and (d) waives any right to trial
by jury with respect to any action related to or arising out of this Agreement or the transactions contemplated hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_117"></A>9.9<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts</U><FONT STYLE="font-size: 10pt">. This Agreement and any amendments thereto may be executed in any number of counterparts
(including by electronic means), each of which shall be deemed an original, but all of which together shall constitute one and the same
agreement and shall become effective when counterparts have been signed by each of the Parties and delivered to the other Party, it being
understood that each Party need not sign the same counterpart.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><A NAME="appa_118"></A>9.10<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Severability</U><FONT STYLE="font-size: 10pt">. In the event that a court of competent jurisdiction shall finally determine
that any provision of this Agreement or any portion thereof is unlawful or unenforceable, such provision or portion thereof shall be deemed
to be severed from this Agreement, and every other provision and portion thereof that is not invalidated by such determination shall remain
in full force and effect. To the extent that a provision is deemed unenforceable by virtue of its scope but may be made enforceable by
limitation thereof, such provision shall be enforceable to the fullest extent permitted under the laws and public policies of the state
whose laws are deemed to govern enforceability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>** Signature Page Follows **</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IN WITNESS WHEREOF</B>, Parent, Merger Sub and the Company have
each executed this Agreement and Plan of Merger as of the day and year first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>FIRST MID BANCSHARES, INC.</B></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; width: 40%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Joseph R. Dively</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD>Joseph R. Dively</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>Chairman, President and Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>BROCK SUB LLC</B></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">By: First Mid Bancshares, Inc., its sole member</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Joseph R. Dively</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD>Joseph R. Dively</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>Chairman, President and Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>DELTA BANCSHARES COMPANY</B></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Michael J. Ross</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD>Michael J. Ross</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Title: </TD>
    <TD>Chairman and President</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><A NAME="a_appb"></A><B>Appendix B &#8211; GBCLM Dissenters&#8217; Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Missouri Revised Statutes &sect; 351.455 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Title XXIII. Corporations, Associations and Partnerships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Chapter 351. General and Business Corporations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Section 455. Shareholder entitled to appraisal and payment of fair
value, when--remedy exclusive, when. -</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. Any shareholder shall be deemed a dissenting shareholder and entitled
to appraisal under this section if such shareholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Owns stock of a corporation which is a party to a merger or consolidation
as of the record date for the meeting of shareholders at which the plan of merger or consolidation is submitted to a vote;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Files with the corporation before or at such meeting a written
objection to such plan of merger or consolidation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3) Does not vote in favor thereof if the shareholder owns voting stock
as of such record date; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(4) Makes written demand on the surviving or new corporation within
twenty days after the merger or consolidation is effected for payment of the fair value of such shareholder&#8217;s shares as of the day
before the date on which the vote was taken approving the merger or consolidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. The surviving or new corporation shall pay to each such dissenting
shareholder, upon surrender of his or her certificate or certificates representing said shares in the case of certificated shares, the
fair value thereof. Such demand shall state the number and class of the shares owned by such dissenting shareholder. Any shareholder who:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1) Fails to file a written objection prior to or at such meeting;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(2) Fails to make demand within the twenty-day period; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(3) In the case of a shareholder owning voting stock as of such record
date, votes in favor of the merger or consolidation; shall be conclusively presumed to have consented to the merger or consolidation and
shall be bound by the terms thereof and shall not be deemed to be a dissenting shareholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Notwithstanding the provisions of subsection 1 of section 351.230,
notice under the provisions of subsection 1 of section 351.230 stating the purpose for which the meeting is called shall be given to each
shareholder owning stock as of the record date for the meeting of shareholders at which the plan of merger or consolidation is submitted
to a vote, whether or not such shareholder is entitled to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. If within thirty days after the date on which such merger or consolidation
was effected the value of such shares is agreed upon between the dissenting shareholder and the surviving or new corporation, payment
therefor shall be made within ninety days after the date on which such merger or consolidation was effected, upon the surrender of his
or her certificate or certificates representing said shares in the case of certificated shares. Upon payment of the agreed value the dissenting
shareholder shall cease to have any interest in such shares or in the corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. If within such period of thirty days the shareholder and the surviving
or new corporation do not so agree, then the dissenting shareholder may, within sixty days after the expiration of the thirty-day period,
file a petition in any court of competent jurisdiction within the county in which the registered office of the surviving or new corporation
is situated, asking for a finding and determination of the fair value of such shares, and shall be entitled to judgment against the surviving
or new corporation for the amount of such fair value as of the day prior to the date on which such vote was taken approving such merger
or consolidation, together with interest thereon to the date of such judgment. The judgment shall be payable only upon and simultaneously
with the surrender to the surviving or new corporation of the certificate or certificates representing said shares in the case of certificated
shares. Upon the payment of the judgment, the dissenting shareholder shall cease to have any interest in such shares, or in the surviving
or new corporation. Such shares may be held and disposed of by the surviving or new corporation as it may see fit. Unless the dissenting
shareholder shall file such petition within the time herein limited, such shareholder and all persons claiming under such shareholder
shall be conclusively presumed to have approved and ratified the merger or consolidation, and shall be bound by the terms thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6. The right of a dissenting shareholder to be paid the fair value
of such shareholder&#8217;s shares as herein provided shall cease if and when the corporation shall abandon the merger or consolidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">7. When the remedy provided for in this section is available with respect
to a transaction, such remedy shall be the exclusive remedy of the shareholder as to that transaction, except in the case of fraud or
lack of authorization for the transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><A NAME="a_appc"></A>Appendix C &#8211; Form of Voting Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Execution Copy</B></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Voting Agreement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">This
Agreement</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">(<I>&#8220;Agreement&#8221;</I>) is made and entered into as
of the 28th day of July, 2021, by and between the undersigned shareholders (each, a <I>&#8220;Shareholder,&#8221;</I> and collectively,
the <I>&#8220;Shareholders&#8221;</I>) of </FONT>Delta Bancshares Company<FONT STYLE="font-family: Times New Roman, Times, Serif">, a
Missouri corporation (the <I>&#8220;Company&#8221;</I>), and </FONT>First Mid Bancshares, Inc.<FONT STYLE="font-family: Times New Roman, Times, Serif">,
a Delaware corporation (<I>&#8220;Parent&#8221;</I>).</FONT></P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Witnesseth:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps">Whereas,</FONT>
<FONT STYLE="font-family: Times New Roman, Times, Serif">the Company and Parent, together with Parent&#8217;s wholly-owned subsidiary
</FONT>Brock Sub LLC<FONT STYLE="font-family: Times New Roman, Times, Serif">, have entered into an Agreement and Plan of Merger dated
as of the date hereof (the <I>&#8220;Merger Agreement&#8221;</I>) (capitalized terms used but not defined in this Agreement shall have
the meanings given to them in the Merger Agreement); </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas,</FONT>
it is a condition precedent to Parent entering into the Merger Agreement that each of the Shareholders have executed and delivered this
Agreement, solely in their capacities as shareholders of the Company; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Whereas,</FONT>
each Shareholder owns and is entitled to vote the number of issued and outstanding shares of common stock of the Company (the <I>&#8220;Company
Common Shares&#8221;</I>) set forth opposite such Shareholder&#8217;s name on Schedule&nbsp;1 attached hereto and has agreed to vote such
Shareholder&#8217;s Company Common Shares pursuant to the terms set forth in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">Now,
Therefore,</FONT> in consideration of the premises and the respective representations, warranties, covenants and agreements set forth
herein, the Shareholders and Parent hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;1.&#9;Voting
of Shares</I>. Each Shareholder hereby agrees that at any meeting of the shareholders of the Company and in any action by written consent
of the shareholders of the Company, such Shareholder shall vote the Company Common Shares which such Shareholder owns and is entitled
to vote (a)&nbsp;in favor of the transactions contemplated by the Merger Agreement, (b)&nbsp;against any action or agreement which would
result in a breach of any term of, or any other obligation of the Company under, the Merger Agreement, and (c)&nbsp;against any action
or agreement which would impede, interfere with or attempt to discourage the transactions contemplated by the Merger Agreement; <U>provided</U>,
<U>however</U>, that nothing in this Agreement shall prevent a Shareholder who may also serve as a director of the Company from discharging
his or her fiduciary duties to the Company. Each Shareholder agrees that the Company shall be authorized to include in any proxy or material
transmitted to shareholders of the Company or of Parent<FONT STYLE="font-variant: small-caps">,</FONT> a statement to the effect that
the Shareholder is a party to this Agreement and has committed to vote in favor of the transactions as set forth in this Section 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 2.&#9;Term of
Agreement</I>. This Agreement shall be effective from the date hereof and shall terminate and be of no further force and effect upon
the earlier of (a)&nbsp;the Effective Time (as defined in the Merger Agreement), (b)&nbsp;the termination of the Merger Agreement in
accordance with its terms, which includes termination in the event the Company Board determines that its fiduciary duties require it
to accept an unsolicited Acquisition Proposal from a third party pursuant to Section 4.8 of the Merger Agreement, or (c)&nbsp;April 28,
2022.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 3.&#9;Covenants of Shareholders</I>.
Each Shareholder agrees not to: except to the extent contained in this Agreement, grant any proxies, deposit any Company Common Shares
into a voting trust or enter into a voting agreement with respect to any Company Common Shares; or without the prior written approval
of Parent, solicit, initiate or encourage any inquiries or proposals for a merger or other business combination involving the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 4.&#9;Representations
and Warranties of Shareholders</I>. Each Shareholder represents and warrants to Parent as follows: (a)&nbsp;such Shareholder has beneficial
ownership of, and is entitled to vote in accordance with such Shareholder&#8217;s commitments under this Agreement, the number of Company
Common Shares set forth opposite his or her name on Schedule 1 hereto, and does not own or have any right to acquire any Company Common
Shares not listed on Schedule&nbsp;1; (b)&nbsp;such Shareholder has the right, power and authority to execute, deliver and perform under
this Agreement; such execution, delivery and performance will not violate, or require any consent, approval, or notice under any provision
of law or result in the breach of any outstanding agreements or instruments to which such Shareholder is a party or is subject; and this
Agreement has been duly executed and delivered by such Shareholder and constitutes a legal, valid and binding agreement of such Shareholder,
enforceable in accordance with its terms; (c)&nbsp;such Shareholder&#8217;s Company Common Shares listed as owned on Schedule 1 hereto
are now and, until the termination of this Agreement, will remain owned by such Shareholder, free and clear of all voting trusts, voting
agreements, proxies, liens, claims, liabilities, security interests, marital property rights or any other encumbrances whatsoever (other
than (i)&nbsp;pledges for loans entered into in the ordinary course and (ii)&nbsp;rights of Parent and encumbrances respecting such Company
Common Shares created pursuant to this Agreement or the Merger Agreement); and (d) other than this Agreement and the Merger Agreement,
there are no outstanding options, warrants or rights to purchase or acquire, or agreements related to, such Shareholder&#8217;s Company
Common Shares. Notwithstanding this representation, no Shareholder shall be prevented by this Agreement from the following transfers
of Company Common Shares: (w)&nbsp;transfers by will or by operation of law (in which case this Agreement shall bind the transferee);
(x) transfers for estate and tax planning purposes, subject in each case to the transferee agreeing in writing to be bound by the terms
of this Agreement; (y)&nbsp;with the prior written consent of Parent (which consent shall not be unreasonably withheld), for any sales,
assignments, transfers or other dispositions necessitated by hardship; or (z)&nbsp; as Parent may otherwise agree in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section&nbsp;5.&#9;Representations
and Warranties of Parent</I>. Parent has the right, power and authority to execute and deliver this Agreement; such execution and delivery
will not violate, or require any consent, approval, or notice under any provision of law or result in the breach of any outstanding agreements
or instruments to which Parent is a party or is subject; and this Agreement has been duly executed and delivered by Parent and constitutes
a legal, valid and binding agreement of Parent, enforceable in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 6.&#9;Transferability</I>.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto (whether
by operation of law or otherwise) without the prior written consent of the other parties, except that Parent may assign this Agreement
to a direct or indirect wholly&#45;owned subsidiary or affiliate of Parent, <I>provided</I> that no such assignment shall relieve Parent
of its obligations hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 7.&#9;Specific
Performance</I>. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement
was not performed by any of the Shareholders in accordance with its specific terms or was otherwise breached. It is accordingly agreed
that Parent shall be entitled to injunctive relief to prevent breaches of this Agreement by the Shareholders and to enforce specifically
the terms and provisions hereof in addition to any other remedy to which Parent is entitled at law or in equity.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 8.&#9;Further
Assurances</I>. Each Shareholder agrees to execute and deliver all such further documents and instruments and take all such further action
as may be necessary or appropriate in order to consummate the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 9.&#9;Entire Agreement
and Amendment.</I> (a) Except for the Merger Agreement and its ancillary agreements and instruments, this Agreement contains the entire
agreement between the parties hereto with respect to the transactions contemplated hereunder and supersedes all prior arrangements or
understandings with respect hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;This Agreement may not be modified,
amended, altered or supplemented except upon the execution and delivery of a written agreement executed by the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Section
10.&#9;Notices</I>. Each notice, demand or other communication which may be or is required to be given under this Agreement </FONT>shall
be in writing and shall be deemed to have been given (a)&nbsp;when delivered in person, (b) the third (3<SUP>rd</SUP>) Business Day after
being deposited in the United States mail, registered or certified mail (return receipt requested), (c) the first Business Day after
being deposited with Federal Express or any other recognized national overnight courier service, or (d) if delivered by electronic mail,
upon receipt, in each case addressed to the applicable address set forth herein for <FONT STYLE="font-family: Times New Roman, Times, Serif">Parent
</FONT>or on Schedule 1 for each of the Shareholders<FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Section 11.&#9;General
Provisions</I>. This Agreement shall be governed by the laws of the State of Missouri. This Agreement may be executed in counterparts,
each of which shall be deemed to be an original. Headings are for convenience only and shall not affect the meaning of this Agreement.
Any term of this Agreement which is invalid or unenforceable shall be ineffective only to the extent of such invalidity or unenforceability
without rendering invalid or unenforceable the remaining terms of this Agreement.</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page Follows]</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1pt; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps">In
Witness Whereof,</FONT> the parties hereto have executed this Agreement as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">First Mid Bancshares, Inc.,</FONT>
a Delaware corporation<FONT STYLE="font-variant: small-caps">:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 5%">By: </TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 35%">&nbsp;</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Its:</TD>
    <TD> Chairman, President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Address for Notices:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First Mid Bancshares, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1421 Charleston Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mattoon, Illinois 61938</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; text-indent: 0.5in">Email:</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 74%">JCrowder@firstmid.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0.5in">Attention:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Jason Crowder, Esq., General Counsel</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">with a copy to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Schiff Hardin LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">233 S. Wacker Drive, Suite 7100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Chicago, Illinois 60606</P>

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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%; padding-left: 0.5in">E-mail:</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 74%">jzgliniec@schiffhardin.com</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.5in">Attention:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Jason Zgliniec, Esq.</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[Signature Page to Voting Agreement]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-variant: small-caps">Shareholders</FONT>:</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-decoration: underline; width: 45%">Signature<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">:</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="text-decoration: underline; width: 45%">Printed Name<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: 400">:</FONT></TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: small-caps bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Schedule 1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Name, Address and E-mail Address of Shareholder</FONT></TD>
    <TD STYLE="width: 50%; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Number of Company Common Shares Owned by Shareholder</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>TOTAL</B></P></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><A NAME="a_appd"></A>Appendix D &#8211; Opinion of Piper Sandler</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="vertical-align: bottom; width: 50%"><IMG SRC="pslogo.jpg" ALT=""></TD>
    <TD STYLE="text-align: right; color: #4A4F55; vertical-align: bottom; width: 50%"><FONT STYLE="font-size: 7pt">1251 AVENUE OF THE
    AMERICAS, 6<FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: 400; color: #4A4F55"><SUP>TH
    </SUP>FLOOR</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; color: #4A4F55; vertical-align: middle"><FONT STYLE="font-size: 7pt">NEW YORK, NY 10020</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; color: #4A4F55; vertical-align: middle">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4A4F55; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-size: 7pt">P
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal; font-weight: 400; color: #4A4F55">212 466-7800 | </FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; font-style: normal; font-weight: 700; color: #4A4F55">TF
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; font-style: normal; font-weight: 400; color: #4A4F55">800
    635-6851</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #4A4F55; font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; color: #4A4F55; vertical-align: middle"><FONT STYLE="font-size: 7pt">Piper Sandler &amp; Co. Since
    1895.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: right; color: #4A4F55; vertical-align: middle"><FONT STYLE="font-size: 7pt">Member SIPC and NYSE.</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: red"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 4.5in; text-align: right; text-indent: 0.5in">July 28, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Board of Directors</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Delta Bancshares Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2301 Market Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Saint Louis, MO 63103</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Delta Bancshares Company (&#8220;Company&#8221;),
First Mid Bancshares, Inc. (&#8220;Parent&#8221;) and Brock Sub LLC, a wholly-owned subsidiary of Parent (&#8220;Merger Sub&#8221;), are
proposing to enter into an Agreement and Plan of Merger (the &#8220;Agreement&#8221;) pursuant to which Company shall merge with and into
Merger Sub with Merger Sub as the surviving corporation (the &#8220;Merger&#8221;). As set forth in the Agreement, at the Effective Time,
each share of Company Common Stock issued and outstanding immediately prior to the Effective Time, except for certain shares of the Company
Common Stock as specified in the Agreement, shall be converted into and become the right to receive (i) 55.1061 shares of Parent Common
Stock (the &#8220;Stock Consideration&#8221;), and (ii) $352.26 in cash (the &#8220;Cash Consideration&#8221;, and together with the Stock
Consideration, the &#8220;Merger Consideration&#8221;). Capitalized terms used herein without definition shall have the meanings ascribed
thereto in the Agreement. You have requested our opinion as to the fairness, from a financial point of view, of the Merger Consideration
to the holders of Company Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Piper Sandler &amp; Co. (&#8220;Piper
Sandler&#8221;, &#8220;we&#8221; or &#8220;our&#8221;), as part of its investment banking business, is regularly engaged in the valuation
of financial institutions and their securities in connection with mergers and acquisitions and other corporate transactions. In connection
with this opinion, we have reviewed and considered, among other things: (i) an execution copy of&nbsp;the Agreement; (ii)&nbsp;certain
publicly available financial statements and other historical financial information of Company that we deemed relevant; (iii) certain publicly
available financial statements and other historical financial information of Parent that we deemed relevant; (iv) certain internal financial
projections for Company for the year ending December 31, 2021 with estimated annual long-term balance sheet and net income growth rates
and estimated dividends per share for Company for the years ending December 31, 2022 through December 31, 2025, as provided by the senior
management of Company; (v) publicly available median analyst earnings per share estimates for Parent for the six months ending December
31, 2021 and the year ending December 31, 2022, as well as estimated annual long-term balance sheet and net income growth rates for Parent
for the years ending December 31, 2023 through December 31, 2025 and estimated dividends per share for Parent for the years ending December
31, 2021 through December 31, 2025, as provided by the senior management of Parent; (vi)&nbsp;the pro forma financial impact of the Merger
on Parent based on certain assumptions relating to transaction expenses, purchase accounting adjustments and cost savings, as well as
estimated net income for Company for the years ending December 31, 2022 through December 31, 2023 with estimated annual long-term net
income growth rates for Company for the years ending December 31, 2023 through December 31, 2025, as provided by the senior management
of Parent; (vii) the publicly reported historical price and trading activity for Parent Common Stock, including a comparison of certain
stock trading information for Parent Common Stock and certain stock indices, as well as similar publicly available information for certain
other companies, the securities of which are publicly traded; (viii) a comparison of certain financial and market information for Company
and Parent with similar financial institutions for which information is publicly available; (ix) the financial terms of certain recent
business combinations in the bank and thrift industry (on a regional basis), to the extent publicly available; (x) the current market
environment generally and the banking environment in particular; and (xi) such other information, financial studies, analyses and investigations
and financial, economic and market criteria as we considered relevant. We also discussed with certain members of the senior management
of Company and its representatives the business, financial condition, results of operations and prospects of Company and held similar
discussions with certain members of the senior management of Parent and its representatives regarding the business, financial condition,
results of operations and prospects of Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 161; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In performing our review,
we have relied upon the accuracy and completeness of all of the financial and other information that was available to us from public sources,
that was provided to us by Company, Parent or their respective representatives, or that was otherwise reviewed by us and we have assumed
such accuracy and completeness for purposes of rendering this opinion without any independent verification or investigation. We have further
relied on the assurances of the respective senior managements of Company and Parent that they are not aware of any facts or circumstances
that would make any of such information inaccurate or misleading in any respect material to our analyses. We have not been asked to undertake,
and have not undertaken, an independent verification of any such information and we do not assume any responsibility or liability for
the accuracy or completeness thereof. We did not make an independent evaluation or perform an appraisal of the specific assets, the collateral
securing assets or the liabilities (contingent or otherwise) of Company or Parent, nor were we furnished with any such evaluations or
appraisals. We render no opinion on or evaluation of the collectability of any assets or the future performance of any loans of Company
or Parent. We did not make an independent evaluation of the adequacy of the allowance for loan losses of Company or Parent, or the combined
entity after the Merger, and we have not reviewed any individual credit files relating to Company or Parent. We have assumed, with your
consent, that the respective allowances for loan losses for both Company and Parent are adequate to cover such losses and will be adequate
on a pro forma basis for the combined entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In preparing its analyses,
Piper Sandler used certain internal financial projections for Company for the year ending December 31, 2021 with estimated annual long-term
balance sheet and net income growth rates and estimated dividends per share for Company for the years ending December 31, 2022 through
December 31, 2025, as provided by the senior management of Company. In addition, Piper Sandler used publicly available median analyst
earnings per share estimates for Parent for the six months ending December 31, 2021 and the year ending December 31, 2022, as well as
estimated annual long-term balance sheet and net income growth rates for Parent for the years ending December 31, 2023 through December
31, 2025 and estimated dividends per share for Parent for the years ending December 31, 2021 through December 31, 2025, as provided by
the senior management of Parent. Piper Sandler also received and used in its pro forma analyses certain assumptions relating to transaction
expenses, purchase accounting adjustments and cost savings, as well as estimated net income for Company for the years ending December
31, 2022 through December 31, 2023 with estimated annual long-term net income growth rates for Company for the years ending December 31,
2023 through December 31, 2025, as provided by the senior management of Parent. With respect to the foregoing information, the respective
senior managements of Company and Parent confirmed to us that such information reflected (or, in the case of the publicly available analyst
estimates referred to above, were consistent with) the best currently available projections, estimates and judgements of those respective
senior managements as to the future financial performance of Company and Parent, respectively, and we assumed that the financial results
reflected in such information would be achieved. We express no opinion as to such projections, estimates or judgements, or the assumptions
on which they are based. We have also assumed that there has been no material change in Company&#8217;s or Parent&#8217;s assets, financial
condition, results of operations, business or prospects since the date of the most recent financial statements made available to us. We
have assumed in all respects material to our analyses that Company and Parent will remain as going concerns for all periods relevant to
our analyses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 162; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have also assumed, with
your consent, that (i) each of the parties to the Agreement will comply in all material respects with all material terms and conditions
of the Agreement and all related agreements required to effect the Merger, that all of the representations and warranties contained in
such agreements are true and correct in all material respects, that each of the parties to such agreements will perform in all material
respects all of the covenants and other obligations required to be performed by such party under such agreements and that the conditions
precedent in such agreements are not and will not be waived, (ii) in the course of obtaining the necessary regulatory or third party approvals,
consents and releases with respect to the Merger, no delay, limitation, restriction or condition will be imposed that would have an adverse
effect on Company, Parent, the Merger or any related transactions, and (iii) the Merger and any related transactions will be consummated
in accordance with the terms of the Agreement without any waiver, modification or amendment of any material term, condition or agreement
thereof and in compliance with all applicable laws and other requirements. Finally, with your consent, we have relied upon the advice
that Company has received from its legal, accounting and tax advisors as to all legal, accounting and tax matters relating to the Merger
and the other transactions contemplated by the Agreement. We express no opinion as to any such matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our opinion is necessarily
based on financial, regulatory, economic, market and other conditions as in effect on, and the information made available to us as of,
the date hereof. Events occurring after the date hereof could materially affect this opinion. We have not undertaken to update, revise,
reaffirm or withdraw this opinion or otherwise comment upon events occurring after the date hereof. We express no opinion as to the trading
value of Parent Common Stock at any time or what the value of Parent Common Stock will be once it is actually received by the holders
of Company Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 163; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; padding-top: 12pt; padding-bottom: 6pt; border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">D-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have acted as Company&#8217;s
financial advisor in connection with the Merger and will receive a fee for our services, which fee is contingent upon consummation of
the Merger. We will also receive a fee for rendering this opinion, which opinion fee will be credited in full towards the advisory fee
which will become payable to Piper Sandler upon consummation of the Merger. Company has also agreed to indemnify us against certain claims
and liabilities arising out of our engagement and to reimburse us for certain of our out-of-pocket expenses incurred in connection with
our engagement. Piper Sandler has not provided any other investment banking services to Company in the two years preceding the date hereof.
As you are aware, Piper Sandler provided certain investment banking services to Parent in the two years preceding the date hereof. In
summary, Piper Sandler acted as (i) financial advisor to Parent in connection with Parent&#8217;s acquisition of LINCO Bancshares, Inc.,
which transaction closed in February 2021 and for which Piper Sandler received a fee of approximately $1.1 million, and (ii) book manager
in connection with Parent&#8217;s offer and sale of subordinated debt, which transaction closed in October 2020 and for which Piper Sandler
received a fee of approximately $1 million. In addition, in the ordinary course of our business as a broker-dealer, we may purchase securities
from and sell securities to Company, Parent and their respective affiliates. We may also actively trade the equity and debt securities
of Parent and its affiliates for our own account and for the accounts of our customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our opinion is directed to
the Board of Directors of Company in connection with its consideration of the Agreement and the Merger and does not constitute a recommendation
to any shareholder of Company as to how any such shareholder should vote at any meeting of shareholders called to consider and vote upon
the approval of the Agreement and the Merger. Our opinion is directed only as to the fairness, from a financial point of view, of the
Merger Consideration to the holders of Company Common Stock and does not address the underlying business decision of Company to engage
in the Merger, the form or structure of the Merger or any other transactions contemplated in the Agreement, the relative merits of the
Merger as compared to any other alternative transactions or business strategies that might exist for Company or the effect of any other
transaction in which Company might engage. We also do not express any opinion as to the fairness of the amount or nature of the compensation
to be received in the Merger by any Company officer, director or employee, or class of such persons, if any, relative to the amount of
compensation to be received by any other shareholder. This opinion has been approved by Piper Sandler&#8217;s fairness opinion committee.
This opinion may not be reproduced without Piper Sandler&#8217;s prior written consent; <I>provided</I>, however, Piper Sandler will provide
its consent for the opinion to be included in any regulatory filings, including the Proxy Statement and the S-4, to be filed with the
SEC and mailed to shareholders in connection with the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based upon and subject to
the foregoing, it is our opinion that, as of the date hereof, the Merger Consideration is fair to the holders of Company Common Stock
from a financial point of view.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="padding-left: 20pt; width: 50%">Very truly yours,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;<IMG SRC="pssig.jpg" ALT="" STYLE="height: 30px; width: 150px"></TD></TR>
 </table>
<p></P>

<P></P>

<P STYLE="text-align: center">D-4</P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P></p>


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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
