NASDAQ$FMBH

First Mid Bancshares Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Reported a strong quarter with record high quarterly earnings, driven by net organic loan growth and successful integration of acquired teams.

First Mid Bancshares, Inc. announced strong financial results for the third quarter of 2021, achieving a new record high in quarterly earnings. The quarter benefited from net organic loan growth, the integration of former Providence and new St. Louis based commercial lending teams, and an increase in net interest income.

  • Net interest income increased by $2.7 million, or 6.4%, compared to the second quarter of 2021.
  • Total loans ended the quarter at $3.95 billion, representing an increase of $151.5 million compared to the prior quarter.
  • Total deposits ended the quarter at $4.99 billion, which represented an increase of $249.2 million from the prior quarter.
  • Noninterest expense for the third quarter totaled $36.3 million compared to $46.0 million in the second quarter.

Headline financials

Total Revenue

$61.9M

Previous: $46.1M+34.2%
EPS (adj)

$1.08

Previous: $0.69+56.5%
Efficiency Ratio

52.7%

Previous: 54.9%-4.0%
Net Interest Margin

3.4%

No prior period
Capital Expenditures

-$2.37M

Previous: -$2.69M+11.9%
Free Cash Flow

$16M

Previous: $8.88M+79.8%
Net Income

$18.3M

Previous: $11.6M+58.5%
Operating Income

$50M

Previous: $35.9M+39.0%
Gross Profit

$61.9M

Previous: $46.1M+34.2%
Cash & Equivalents

$347M

Previous: $234M+48.2%
Total Assets

$6.04B

Previous: $4.51B+34.0%
Stock-Based Comp

$262K

Previous: $200K+31.0%

Revenue & EPS history

First Mid · Revenue · Quarterly

$61.9M

Q3 2021+34.2%vs Q3 2020
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

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

  • Insurance
    $14M
  • Wealth Mgmt
    $4.8M

Forward guidance

The company is preparing for a smooth transition and is excited about the opportunities and additional services the combined entity can provide to Delta’s customers and the broader St. Louis community

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 Q3 2021

Historical avgQ3 2021

-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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