NASDAQ$FMBH

First Mid Bancshares Inc · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Second quarter results reflected the strength of diversification and the success of strategic initiatives.

First Mid Bancshares reported strong second-quarter results driven by relationship-driven model with growth in both loans and deposits, while maintaining strong asset quality metrics. The company received regulatory approval for the Blackhawk acquisition and completed the acquisition of PGIB Insurance.

  • Net interest income decreased by $0.8 million, or 1.9%, compared to the first quarter of 2023.
  • Total loans ended the quarter at $4.81 billion, representing an increase of $52.8 million, or 1.1%, compared to the prior quarter.
  • Total deposits ended the quarter at $5.22 billion, which represented an increase of $188.8 million, or 3.8% from the prior quarter.
  • Noninterest income for the second quarter of 2023 was $19.5 million compared to $22.5 million in the first quarter of 2023.

Headline financials

Total Revenue

$61.9M

Previous: $65.4M-5.4%
EPS (adj)

$0.83

Previous: $0.90-7.8%
Efficiency Ratio

60.4%

No prior period
NPL / Total Loans

0.4%

Previous: 0.4%-9.3%
NPA / Total Assets

0.3%

Previous: 0.4%-5.6%
Capital Expenditures

-$1.91M

Previous: -$2.76M+30.9%
Free Cash Flow

$14.7M

Previous: $15M-2.3%
Net Income

$16.6M

Previous: $17.8M-6.7%
Operating Income

$33.4M

Previous: $52.4M-36.2%
Gross Profit

$61.9M

Previous: $65.4M-5.4%
Cash & Equivalents

$168M

Previous: $132M+26.7%
Total Assets

$6.7B

Previous: $6.66B+0.6%
Stock-Based Comp

$437K

Previous: $401K+9.0%

Revenue & EPS history

First Mid · Revenue · Quarterly

$61.9M

Q2 2023-5.4%vs Q2 2022
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

First Mid · $18.8M total across 2 segments · Q1 2023

  • Insurance
    $14M
  • Wealth Mgmt
    $4.8M

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2023

Historical avgQ2 2023

-0.2%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+2.0%

Avg return

30 days after

41%

27 / 66 earnings

Positive

+7.1%

Q4 2009

Best reaction

-11.5%

Q1 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.1%+1.5%+2.4%
Q4 2025-1.1%+4.1%-2.5%
Q3 2025-3.0%-0.7%+5.0%
Q2 2025-3.4%-1.3%+1.3%
Q1 2025+3.0%+7.5%+5.5%
Q4 2024+2.8%+4.2%+3.3%
Q3 2024-3.2%-2.6%+7.5%
Q2 2024-1.7%-2.4%+4.9%
Q1 2024-0.8%-0.6%+0.8%
Q4 2023-0.5%-0.4%-8.9%
Q3 2023+2.3%+4.6%+19.6%
Q2 2023+2.0%+3.5%-6.6%
Q1 2023+5.8%+6.7%+2.4%
Q4 2022-1.6%+0.5%-3.6%
Q3 2022+0.2%-1.6%-4.1%
Q2 2022-2.1%-3.1%-5.6%
Q1 2022+2.2%-1.9%+0.8%
Q4 2021-2.9%-1.9%-3.0%
Q3 2021+2.4%+4.5%-0.2%
Q2 2021+2.0%+4.1%+4.0%
Q1 2021+1.4%+2.4%+1.4%
Q4 2020+3.2%+4.5%+10.9%
Q3 2020+2.5%+8.3%+17.6%
Q2 2020-3.8%-2.3%+4.9%
Q1 2020-5.9%-12.1%-9.7%
Q4 2019-1.3%-2.2%-4.9%
Q3 2019+0.5%+1.0%+0.7%
Q2 2019-0.2%-0.9%-8.1%
Q1 2019+3.9%+6.3%+2.7%
Q4 2018+0.2%-1.6%+8.0%
Q3 2018+6.2%+9.5%+6.4%
Q2 2018+1.2%+0.4%+2.2%
Q1 2018+0.5%-0.1%+1.5%
Q4 2017-0.3%-0.3%-8.0%
Q3 2017-0.8%-7.4%-6.2%
Q2 2017-0.3%+3.7%-1.8%
Q1 2017-2.3%-2.4%-1.5%
Q4 2016-1.6%-1.2%+5.3%
Q3 2016+4.6%+12.2%+27.1%
Q2 2016+1.3%+0.9%+6.3%
Q1 2016+1.9%
Q4 2015+1.3%
Q3 2015+0.1%
Q2 2015+0.2%
Q1 2015-5.2%
Q4 2014-2.1%
Q3 2014-0.7%
Q2 2014+0.0%
Q1 2014+0.0%
Q4 2013-4.1%
Q3 2013+0.0%
Q2 2013+0.0%
Q1 2013+0.0%
Q4 2011+0.0%
Q4 2012+0.0%
Q3 2012-1.8%
Q2 2012+6.3%
Q1 2011-11.5%
Q1 2012+0.0%
Q4 2009+7.1%
Q3 2010-4.8%
Q3 2011-4.8%
Q2 2011-1.5%
Q4 2010-1.5%
Q2 2010-1.5%
Q1 2010+0.0%

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