XML 49 R40.htm IDEA: XBRL DOCUMENT v3.24.0.1

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Intangible Assets and Goodwill

The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of business lines acquired. The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of December 31, 2023 and 2022 (in thousands):

		2023								2022
		Gross Carrying				Accumulated				Gross Carrying				Accumulated
		Value				Amortization				Value				Amortization
Goodwill		$	200,221			$	3,760			$	144,172			$	3,760
Intangibles from branch acquisition			3,015				3,015				3,015				3,015
Core deposit intangibles			79,945				34,966				45,355				28,432
Customer list intangibles			26,552				10,620				20,782				8,551
		$	309,733			$	52,361			$	213,324			$	43,758

Intangible Assets Mortgage Servicing Rights

The following table summarizes the activity pertaining to the mortgage servicing rights included in intangible assets as of December 31, 2023 and 2022 (in thousands):

		December 31, 2023				December 31, 2022
Beginning balance		$	331			$	420
Mortgage servicing rights acquired			7,070				—
Valuation recovery			(8	)			108
Mortgage servicing rights amortized			(524	)			(200	)
I/O strip			(10	)			3
Ending balance		$	6,859			$	331

Schedule of Intangible Assets Amortization Expense

Total amortization expense for the years ended December 31, 2023, 2022, and 2021 was as follows (in thousands):

		2023				2022				2021
Core deposit intangibles		$	6,534			$	4,347			$	3,176
Customer list intangibles			2,069				1,743				1,586
Mortgage servicing rights			524				200				629
		$	9,127			$	6,290			$	5,391

Schedule of Expected Amortization Expense

Estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):

For year ended 12/31/24		$	13,478
For year ended 12/31/25			12,158
For year ended 12/31/26			10,570
For year ended 12/31/27			9,351
For year ended 12/31/28			8,183

Blackhawk Bancorp, Inc

Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded

The following table provides a reconciliation of the purchase price paid for the acquisition of Blackhawk and the amount of goodwill recorded (in thousands):

Unallocated purchase price						$	26,955
Less purchase accounting adjustments:
Fair value of securities		$	(25,521	)
Fair value of loans, net			(43,477	)
Fair value of premises and equipment			(3,856	)
Fair value of time deposits			2,311
Fair value of subordinated and jr subordinated debentures			3,707
Increase in core deposit intangible			33,731
Increase in mortgage servicing rights			3,344
Other assets			6,619
							(23,142	)
Resulting goodwill from acquisition						$	50,097

Purdum, Gray, Ingledue, Beck, Inc.

Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded

The following provides a reconciliation of the purchase price paid for Purdum, Gray, Ingledue, Beck, Inc. and the amount of goodwill recorded (in thousands):

Unallocated purchase price						$	10,145
Less purchase accounting adjustments:
Insurance Company intangible		$	5,770
Other liabilities			(1,576	)
							4,194
Resulting goodwill from acquisition						$	5,951

Delta Bancshares Company

Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded

The following table provides a reconciliation of the purchase price paid for the acquisition of Delta and the amount of goodwill recorded (in thousands):

Unallocated purchase price						$	29,791
Less purchase accounting adjustments:
Fair value of securities		$	(2,836	)
Fair value of loans, net			(3,399	)
Fair value of premises and equipment			3,508
Fair value of time deposits			(1,759	)
Fair value of FHLB advances			(75	)
Core deposit intangible			5,920
Other assets			(570	)
Other liabilities			444
							1,233
Resulting goodwill from acquisition						$	28,558

X

- Definition

[Table Text Block] for Intangible Assets, Mortgage Servicing Rights [Table]

+ References

No definition available.

+ Details

Name:	fmbh_IntangibleAssetsMortgageServicingRightsTableTextBlock
Namespace Prefix:	fmbh_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of reconciliation of purchase price paid for acquisition and goodwill recorded.

+ References

No definition available.

+ Details

Name:	fmbh_ScheduleOfReconciliationOfPurchasePricePaidForAcquisitionAndGoodwillRecordedTableTextBlock
Namespace Prefix:	fmbh_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life.

+ References

No definition available.

+ Details

Name:	us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

+ Details

Name:	us-gaap_ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-2

+ Details

Name:	us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=fmbh_BlackhawkBancorpIncMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=fmbh_PurdumGrayIngledueBeckIncMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=fmbh_DeltaBancsharesCompanyMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: