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Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Parent Company Only Financial Statements

Note 22 -- Parent Company Only Financial Statements

Presented below are condensed balance sheets, statements of income and cash flows for the Company (in thousands):

First Mid Bancshares, Inc. (Parent Company)
Balance Sheets		December 31,
		2024				2023
Assets
Cash		$	11,762			$	9,968
Premises and equipment, net			5,301				5,218
Investment in subsidiaries			934,750				907,989
Other assets			8,230				6,720
Total assets		$	960,043			$	929,895
Liabilities and stockholders’ equity
Liabilities
Debt		$	111,752			$	130,813
Other liabilities			1,900				5,878
Total liabilities			113,652				136,691
Stockholders’ equity			846,391				793,204
Total liabilities and stockholders’ equity		$	960,043			$	929,895

First Mid Bancshares, Inc. (Parent Company)
Statements of Income and Comprehensive Income (Loss)		Years ended December 31,
		2024				2023				2022
Income:
Dividends from subsidiaries		$	58,000			$	51,213			$	34,040
Other income			681				87				542
Total income			58,681				51,300				34,582
Operating expenses			11,256				12,192				9,221
Income before income taxes and equity in undistributed earnings of subsidiaries			47,425				39,108				25,361
Income tax benefit			2,892				3,453				2,780
Income before equity in undistributed earnings of subsidiaries			50,317				42,561				28,141
Equity in undistributed earnings of subsidiaries			28,581				26,374				44,811
Net income			78,898				68,935				72,952
Other comprehensive income (loss), net of taxes			(5,956	)			15,080				(150,676	)
Comprehensive income (loss)		$	72,942			$	84,015			$	(77,724	)

First Mid Bancshares, Inc. (Parent Company)
Statements of Cash Flows		Years ended December 31,
		2024				2023				2022
Cash flows from operating activities:
Net income		$	78,898			$	68,935			$	72,952
Adjustments to reconcile net income to net
Cash provided by (used in) operating activities:
Depreciation, amortization, accretion, net			—				265				218
Dividends received from subsidiary			—				51,213				34,040
Equity in undistributed earnings of subsidiaries			(28,581	)			(26,374	)			(44,811	)
Increase in other assets			(2,221	)			(49,606	)			(208,359	)
Increase (decrease) in other liabilities			(871	)			1,526				(146	)
Net cash provided by (used in) operating activities			47,225				45,959				(146,106	)
Cash flows from investing activities:
Investment in subsidiary			(4,000	)			—				—
Net cash from (used in) business acquisition			—				(41,827	)			67,323
Net cash provided by (used in) investing activities			(4,000	)			(41,827	)			67,323
Cash flows from financing activities:
Repayment of long-term debt			(19,455	)			—				—
Proceeds from issuance of common stock			1,054				1,004				93,415
Payment to repurchase common stock			(659	)			(465	)			(340	)
Direct expense related to capital transactions			—				—				(29	)
Dividends paid on common stock			(22,371	)			(19,557	)			(17,830	)
Net cash provided by (used in) financing activities			(41,431	)			(19,018	)			75,216
Increase (decrease) in cash			1,794				(14,886	)			(3,567	)
Cash at beginning of year			9,968				24,854				28,421
Cash at end of year		$	11,762			$	9,968			$	24,854

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- References

No definition available.

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-11

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