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Repurchase Agreements and Other Borrowings (Tables) | 12 Months Ended
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Dec. 31, 2022
Repurchase Agreements And Other Borrowings [Abstract] |
Schedule of Borrowings | As of December 31, 2022 and 2021 borrowings consisted of the following (in thousands):
|  | 2022 |  |  | 2021 |
Securities sold under agreements to repurchase |  | $ | 221,414 |  |  | $ | 146,268 |
Federal Home Loan Bank-overnight |  |  | 65,000 |  |  |  | — |
Federal Home Loan Bank (FHLB) fixed-term advances |  |  | 400,071 |  |  |  | 86,446 |
Subordinated debt |  |  | 94,553 |  |  |  | 94,400 |
Junior subordinated debentures |  |  | 19,364 |  |  |  | 19,195 |
Total |  | $ | 800,402 |  |  | $ | 346,309 |
Aggregate Annual Maturities of Long-Term Borrowings | Aggregate annual maturities of FHLB advances and debt (excluding unamortized discounts and premiums) at December 31, 2022 are (in thousands):
|  |  |  |  | Subordinated |  |  | Jr. Subordinated |
|  | FHLB |  |  | Debt |  |  | Debentures |
2023 |  | $ | 175,000 |  |  | $ | — |  |  | $ | — |
2024 |  |  | 60,000 |  |  |  | — |  |  |  | — |
2025 |  |  | 9,747 |  |  |  | — |  |  |  | 4,124 |
2026 |  |  | 150,000 |  |  |  | — |  |  |  | — |
2027 |  |  | — |  |  |  | — |  |  |  | — |
Thereafter |  |  | 70,000 |  |  |  | 96,000 |  |  |  | 16,496 |
|  |  | 464,747 |  |  |  | 96,000 |  |  |  | 20,620 |
Unamortized discount |  |  | 324 |  |  |  | (1,447 | ) |  |  | (1,256 | )
|  | $ | 465,071 |  |  | $ | 94,553 |  |  | $ | 19,364 |
Federal Home Loan Bank, Advances | FHLB advances represent borrowings by First Mid Bank to fund loan demand. At December 31, 2022 the advances totaling $464.7 million were as follows:
Advance |  | Term (in years) |  | Interest Rate |  | Maturity Date
$5,000,000 |  | 8.0 |  | 2.40% |  | January 9, 2023
35,000,000 |  | 0.5 |  | 4.22% |  | March 31, 2023
5,000,000 |  | 4.0 |  | 2.44% |  | May 30, 2023
5,000,000 |  | 1.0 |  | 2.00% |  | May 31, 2023
25,000,000 |  | 0.75 |  | 4.34% |  | June 30, 2023
5,000,000 |  | 3.5 |  | 1.51% |  | July 31, 2023
5,000,000 |  | 3.5 |  | 0.77% |  | September 11, 2023
10,000,000 |  | 5.0 |  | 1.45% |  | December 31, 2024
5,000,000 |  | 5.0 |  | 0.91% |  | March 10, 2025
4,746,475 |  | 10.0 |  | 2.64% |  | December 23, 2025
5,000,000 |  | 10.0 |  | 1.15% |  | October 3, 2029
5,000,000 |  | 10.0 |  | 1.12% |  | October 3, 2029
10,000,000 |  | 10.0 |  | 1.39% |  | December 31, 2029
25,000,000 |  | 1.0 |  | 4.81% |  | November 10, 2023
25,000,000 |  | 1.5 |  | 4.69% |  | May 10, 2024
25,000,000 |  | 2.0 |  | 4.59% |  | November 8, 2024
50,000,000 |  | 4.0 |  | 2.98% |  | December 8, 2027
50,000,000 |  | 4.0 |  | 3.49% |  | December 8, 2027
50,000,000 |  | 4.0 |  | 3.28% |  | December 8, 2027
50,000,000 |  | 10.0 |  | 2.77% |  | December 13, 2032
65,000,000 |  | overnight |  | 4.31% |  | January 1, 2023
Securities Underlying the Repurchase Agreements |
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Securities sold under agreements to repurchase: |  |  |  |  |  |  |  |  |
Maximum outstanding at any month-end |  | $ | 257,061 |  |  | $ | 212,503 |  |  | $ | 350,288 |
Average amount outstanding for the year |  |  | 202,242 |  |  |  | 173,762 |  |  |  | 219,298 |
Schedule of Securities Financing Transactions | Repurchase agreements by class of collateral pledged are as follows (in thousands):
|  | December 31, 2022 |  |  | December 31, 2021 |
US Treasury securities and obligations of U.S. government corporations and agencies |  | $ | 47,775 |  |  | $ | 53,782 |
Mortgage-backed securities: GSE: residential |  |  | 173,639 |  |  |  | 92,486 |
Total |  | $ | 221,414 |  |  | $ | 146,268 |

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