NASDAQ$FMBH

First Mid Bancshares Inc · Q3 2023 earnings

Q3 2023 earnings · · Investor relations

Briefing

Announced solid core results and completed the acquisition of Blackhawk Bank.

First Mid Bancshares announced solid core results for Q3 2023, which included the acquisition of Blackhawk Bank on August 15th, adding approximately $1.2 billion in deposits and $730.2 million in loans. The company's net interest income increased, driven by the Blackhawk acquisition and loan repricing.

  • Net interest income increased by $8.1 million, or 19.1% compared to the second quarter of 2023.
  • Total loans ended the quarter at $5.54 billion, representing an increase of $726.6 million.
  • Total deposits ended the quarter at $6.35 billion, which represented an increase of $1.13 billion.
  • Noninterest income for the third quarter of 2023 was $23.1 million compared to $19.5 million in the second quarter of 2023.

Headline financials

Total Revenue

$73.5M

Previous: $65M+13.0%
EPS (adj)

$0.77

Previous: $0.90-14.4%
Efficiency Ratio

58.6%

Previous: 0.6%+9732.2%
NPL / Total Loans

0.4%

Previous: 0.0%+8536.4%
NPA / Total Assets

0.3%

Previous: 0.0%+7794.7%
Capital Expenditures

-$3.02M

Previous: -$3.87M+22.0%
Free Cash Flow

$12.1M

Previous: $14.1M-14.0%
Net Income

$15.1M

Previous: $17.9M-15.7%
Operating Income

$37.6M

Previous: $50M-24.8%
Gross Profit

$73.5M

Previous: $65M+13.0%
Cash & Equivalents

$377M

Previous: $155M+143.0%
Total Assets

$7.86B

Previous: $6.65B+18.1%
Stock-Based Comp

$469K

Previous: $433K+8.3%

Revenue & EPS history

First Mid · Revenue · Quarterly

$73.5M

Q3 2023+13%vs Q3 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

Forward guidance

This document may contain certain forward-looking statements about First Mid, such as discussions of First Mid’s pricing and fee trends, credit quality and outlook, liquidity, new business results, expansion plans, anticipated expenses and planned schedules.

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 2023

Historical avgQ3 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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