XML 34 R27.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Intangible Assets and Goodwill

The following table presents gross carrying value and accumulated amortization by major intangible asset class as of March 31, 2024 and December 31, 2023 (in thousands):

		March 31, 2024								December 31, 2023
		Gross Carrying Value				Accumulated Amortization				Gross Carrying Value				Accumulated Amortization
Goodwill not subject to amortization		$	200,221			$	3,760			$	200,221			$	3,760
Intangibles from branch acquisition			3,015				3,015				3,015				3,015
Core deposit intangibles			79,945				37,520				79,945				34,966
Other intangibles			26,552				11,198				26,552				10,620
		$	309,733			$	55,493			$	309,733			$	52,361

Intangible Assets Mortgage Servicing Rights

The Company has mortgage servicing rights acquired in previous acquisitions. The following table summarizes the activity pertaining to mortgage servicing rights included in intangible assets as of March 31, 2024, March 31, 2023 and December 31, 2023 (in thousands):

		March 31, 2024				March 31, 2023				December 31, 2023
Beginning balance		$	6,859			$	331			$	331
Mortgage servicing rights acquired during period			—				—				7,070
Adjustment to valuation reserve			(33	)			—				(8	)
Mortgage servicing rights amortized			(364	)			(17	)			(524	)
Interest only strip			(3	)			(2	)			(10	)
Ending balance		$	6,459			$	312			$	6,859

Schedule of Intangible Assets Amortization Expense

Total amortization expense for three months ended March 31, 2024 and 2023 was as follows (in thousands):

		Three months ended
		March 31,
		2024				2023
Core deposit intangibles		$	2,554			$	1,049
Customer list intangibles			579				456
Mortgage servicing rights			364				17
		$	3,497			$	1,522

Schedule of Expected Amortization Expense

Aggregate amortization expense for the current year and estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):

Aggregate amortization expense:
For period 01/01/24 - 03/31/24		$	3,497
Estimated amortization expense:
For period 04/01/24 - 12/31/24			9,982
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

Purdum, Gray, Ingledue, Beck, Inc.

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

The followingprovides 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
					$	5,951

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	)
					$	50,097

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_PurdumGrayIngledueBeckIncMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

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