XML 32 R25.htm IDEA: XBRL DOCUMENT v3.24.3

Investment Securities (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Available for Sale and Held for Maturity Securities

The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at September 30, 2024 and December 31, 2023 were as follows (in thousands):

		Amortized Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Fair Value
September 30, 2024
Available-for-sale:
U.S. Treasury securities and obligations of U.S. government corporations and agencies		$	212,259			$	1			$	(18,091	)		$	194,169
Obligations of states and political subdivisions			326,751				255				(46,562	)			280,444
Mortgage-backed securities: GSE residential			668,554				1,564				(93,269	)			576,849
Other securities			67,097				—				(3,007	)			64,090
Total available-for-sale		$	1,274,661			$	1,820			$	(160,929	)		$	1,115,552
Held-to-maturity:
Other investments		$	2,298			$	—			$	—			$	2,298
Total held-to-maturity		$	2,298			$	—			$	—			$	2,298
December 31, 2023
Available-for-sale:
U.S. Treasury securities and obligations of U.S. government corporations and agencies		$	237,875			$	—			$	(26,219	)		$	211,656
Obligations of states and political subdivisions			337,835				152				(49,371	)			288,616
Mortgage-backed securities: GSE residential			714,216				1,158				(113,074	)			602,300
Other securities			73,795				—				(4,795	)			69,000
Total available-for-sale		$	1,363,721			$	1,310			$	(193,459	)		$	1,171,572
Held-to-maturity:
Other investments		$	2,286			$	—			$	—			$	2,286
Total held-to-maturity		$	2,286			$	—			$	—			$	2,286

Realized Gains and Losses From Sale of Securities

Realized gains and losses resulting from sales of securities were as follows during the three and nine months ended September 30, 2024 and 2023 (in thousands):

		Three months ended								Nine months ended
		September 30,								September 30,
		2024				2023				2024				2023
Gross gains		$	11			$	3,823			$	46			$	3,829
Gross losses			(288	)			(434	)			(479	)			(492	)

Investments Classified by Contractual Maturity Date

The following table indicates the expected maturities of investment securities classified as available-for-sale presented at fair value, and held-to-maturity presented at amortized cost, at September 30, 2024 and the weighted average yield for each range of maturities (dollars in thousands):

		One year or less				After 1 through 5 years				After 5 through 10 years				After ten years				Total
Available-for-sale:
U.S. Treasury securities and obligations of U.S. government corporations and agencies		$	181,606			$	12,563			$	—			$	—			$	194,169
Obligations of state and political subdivisions			24,154				115,365				139,325				1,600				280,444
Mortgage-backed securities: GSE residential			3,068				4,677				34,374				534,730				576,849
Other securities			46,927				16,383				780				—				64,090
Total available-for-sale investments		$	255,755			$	148,988			$	174,479			$	536,330			$	1,115,552
Weighted average yield			2.04	%			2.38	%			2.26	%			1.81	%			2.01	%
Full tax-equivalent yield			2.11	%			2.88	%			2.70	%			1.83	%			2.17	%
Held to maturity:
Other investments		$	—			$	—			$	—			$	2,298			$	2,298
Total held-to-maturity		$	—			$	—			$	—			$	2,298			$	2,298
Weighted average yield			—	%			—	%			—	%			—	%			—	%
Full tax-equivalent yield			—	%			—	%			—	%			—	%			—	%

Fair Value of Investments with Sustained Gross Unrealized Losses

The following table presents the aging of gross unrealized losses and fair value by investment category as of September 30, 2024 and December 31, 2023 (in thousands):

		Less than 12 months								12 months or more								Total
		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Fair Value				Unrealized Losses
September 30, 2024
Available-for-sale:
U.S. Treasury securities and obligations of U.S. government corporations and agencies		$	300			$	—			$	193,524			$	(18,091	)		$	193,824			$	(18,091	)
Obligations of states and political subdivisions			13,802				(833	)			251,107				(45,729	)			264,909				(46,562	)
Mortgage-backed securities: GSE residential			—				—				547,233				(93,269	)			547,233				(93,269	)
Other securities			—				—				58,340				(3,007	)			58,340				(3,007	)
Total		$	14,102			$	(833	)		$	1,050,204			$	(160,096	)		$	1,064,306			$	(160,929	)
December 31, 2023
Available-for-sale:
U.S. Treasury securities and obligations of U.S. government corporations and agencies		$	1,288			$	(4	)		$	210,069			$	(26,215	)		$	211,357			$	(26,219	)
Obligations of states and political subdivisions			22,281				(333	)			241,630				(49,038	)			263,911				(49,371	)
Mortgage-backed securities: GSE residential			5,818				(67	)			566,197				(113,007	)			572,015				(113,074	)
Other securities			5,311				(439	)			57,939				(4,356	)			63,250				(4,795	)
Total		$	34,698			$	(843	)		$	1,075,835			$	(192,616	)		$	1,110,533			$	(193,459	)

X

- Definition

Tabular disclosure of available-for-sale and held-for-maturity securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures.

+ References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479106/326-30-50-4

+ Details

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

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

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

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of realized gains and losses on investments reported in the statement of income.

+ References

No definition available.

+ Details

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