Parent Company Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2021

First Mid Bancshares, Inc. (Parent Company)
Balance Sheets	December 31,
	2021		2020
Assets
Cash	$	28,421	$	122,163
Premises and equipment, net		4,377		4,423
Investment in subsidiaries		713,296		553,150
Other assets		4,048		4,062
Total assets	$	750,142	$	683,798
Liabilities and stockholders’ equity
Liabilities
Debt	$	113,595	$	113,280
Other liabilities		2,653		2,290
Total liabilities		116,248		115,570
Stockholders’ equity		633,894		568,228
Total liabilities and stockholders’ equity	$	750,142	$	683,798

First Mid Bancshares, Inc. (Parent Company)
Statements of Income and Comprehensive Income	Years ended December 31,
	2021			2020		2019
Income:
Dividends from subsidiaries	$	28,075		$	29,663	$	38,688
Other income		9			43		12
Total income		28,084			29,706		38,700
Operating expenses		9,630			4,697		4,492
Income before income taxes and equity in undistributed earnings of subsidiaries		18,454			25,009		34,208
Income tax benefit		2,656			1,231		1,256
Income before equity in undistributed earnings of subsidiaries		21,110			26,240		35,464
Equity in undistributed earnings of subsidiaries		30,380			19,030		12,479
Net income		51,490			45,270		47,943
Other comprehensive income (loss), net of taxes		(17,926	)		8,735		14,833
Comprehensive income	$	33,564		$	54,005	$	62,776

First Mid Bancshares, Inc. (Parent Company)
Statements of Cash Flows	Years ended December 31,
	2021			2020			2019
Cash flows from operating activities:
Net income	$	51,490		$	45,270		$	47,943
Adjustments to reconcile net income to net
Cash provided by operating activities:
Depreciation, amortization, accretion, net		350			104			125
Dividends received from subsidiary		28,075			29,663			38,688
Equity in undistributed earnings of subsidiaries		(30,380	)		(19,030	)		(12,479	)
Increase in other assets		(206,880	)		(30,121	)		(39,042	)
Increase in other liabilities		1,760			1,349			(17,104	)
Net cash provided by (used in) operating activities		(155,585	)		27,235			18,131
Cash flows from investing activities:
Investment in subsidiary		—			(700	)		(343	)
Net cash from business acquisition		30,968			—			310
Net cash provided by (used in) investing activities		30,968			(700	)		(33	)
Cash flows from financing activities:
Repayment of short-term debt		—			(5,000	)		—
Proceeds from short-term debt		—			5,000			—
Repayment of long-term debt		—			—			(10,310	)
Issuance of subordinated debt		—			94,253			—
Proceeds from issuance of common stock		46,128			610			589
Payment to repurchase common stock		(326	)		(213	)		(1,293	)
Direct expense related to capital transactions		(206	)		—			—
Dividends paid on common stock		(14,721	)		(12,814	)		(11,863	)
Net cash provided by (used in) financing activities		30,875			81,836			(22,877	)
Increase (decrease) in cash		(93,742	)		108,371			(4,779	)
Cash at beginning of year		122,163			13,792			18,571
Cash at end of year	$	28,421		$	122,163		$	13,792