First Mid Bancshares

-5.21%

First Mid Bancshares is a financial holding company based in Mattoon, Illinois. It operates through its subsidiary, First Mid Bank & Trust, and provides a range of banking and financial services to its clients.
Founded in 1983, First Mid Bancshares has grown to become a significant player in the financial services industry in the Midwest region of the United States. It currently operates over 60 banking locations across Illinois and Missouri, and offers a wide range of products and services, including personal and business banking, wealth management, and insurance services.
The company’s mission is to be a trusted and respected financial partner, providing exceptional service and innovative solutions to its clients. It aims to achieve this by focusing on building strong relationships with its customers, operating with integrity and transparency, and remaining committed to the communities it serves.
In addition to its financial services, First Mid Bancshares is also actively involved in philanthropic initiatives in its local communities. The company supports various charitable organizations and events, and its employees regularly volunteer their time and resources to give back to the community.
Overall, First Mid Bancshares is a well-established and reputable company that continues to grow and meet the evolving needs of its clients in the financial services industry.

1. Strong Community Focus: First Mid Bancshares has a strong commitment to serving the local communities in which it operates. The company actively supports local initiatives and donates to various charitable causes.
2. Long History: First Mid Bancshares was founded in 1865, making it one of the oldest continuously operating banks in the U.S. With over 150 years of experience, the company has built a strong reputation and established a loyal customer base.
3. Sound Financial Performance: The company has consistently reported strong financial performance, with steady growth in assets, deposits, and earnings. This demonstrates the stability and reliability of First Mid Bancshares as a financial institution.
4. Diversified Business: First Mid Bancshares offers a range of financial services, including banking, wealth management, and insurance. This diversification helps the company weather economic downturns and provides a more comprehensive solution for its customers.
5. Experienced Management: The company’s leadership team has a wealth of experience in the financial industry, with many of them having spent their entire careers at First Mid Bancshares. This expertise helps guide the company’s strategic decisions and ensures its long-term success.
6. Technology-driven: First Mid Bancshares has invested heavily in technology to improve its services and enhance the customer experience. This includes offering online and mobile banking, electronic deposit options, and other digital solutions.
7. Strong Corporate Governance: First Mid Bancshares follows a strict code of ethics and holds its employees and directors to high standards of conduct. This commitment to corporate governance helps build trust with customers and investors.
8. Expansion Strategy: The company has a strategic growth plan that includes expanding its presence in existing markets and entering new markets through selective acquisitions. This allows First Mid Bancshares to continually diversify and strengthen its business.
9. Employee Development: First Mid Bancshares values its employees and invests in their development through training and advancement opportunities. This creates a positive work culture and helps attract and retain talented individuals.
10. Commitment to Sustainability: First Mid Bancshares is committed to being a responsible corporate citizen and has implemented sustainable practices to reduce its environmental impact. The company also supports local environmental initiatives and encourages its employees to volunteer in community projects.

First Mid Bancshares is a bank holding company that operates through its wholly-owned subsidiary, First Mid Bank & Trust. Its business model is primarily focused on providing a wide range of banking and financial services to individuals, businesses, and organizations in its local markets.
The company offers a variety of deposit products, including checking and savings accounts, money market accounts, and certificates of deposit. It also provides lending services, such as commercial and agricultural loans, residential and commercial real estate loans, and consumer loans.
First Mid Bancshares generates revenue through the interest income on loans and investments, as well as non-interest income from fees and commissions on its products and services. The company also offers wealth management and insurance services through its subsidiaries, expanding its revenue streams.
The company’s business model also includes a strong focus on fostering relationships with its customers and communities. It aims to provide personalized and high-quality services while actively supporting local economic development and philanthropic initiatives.
Overall, First Mid Bancshares’ business model is centered on traditional banking activities, diversification of its services, and community involvement, with a goal of sustainable growth and profitability.

1. First Mid Bancshares, Inc. is a financial holding company based in Mattoon, Illinois. The company was founded in 1865 and is the oldest bank holding company in the state of Illinois.
2. The company operates primarily through its wholly-owned subsidiary, First Mid-Illinois Bank & Trust, National Association. This bank has been in operation since 1865 and has a long history of serving its local communities.
3. First Mid Bancshares is listed on the Nasdaq Global Select Market under the ticker symbol FMBH. As of 2021, the company has a market capitalization of over $700 million.
4. First Mid Bancshares has a strong presence in central and southern Illinois, with over 60 locations throughout the region. The company offers a full range of banking services, including personal and business banking, wealth management, and insurance.
5. The company has a history of strategic acquisitions, with more than 20 acquisitions completed since 1991. These acquisitions have allowed First Mid Bancshares to expand its footprint and diversify its product offerings.
6. In addition to its traditional banking services, First Mid Bancshares also offers specialized services such as agricultural lending, trust and investment services, and mortgage services.
7. First Mid Bancshares has been recognized for its financial performance and community involvement. The company has been named to the Forbes Best Banks in America list multiple times and has received awards for its charitable giving and community involvement.
8. The current president and CEO of First Mid Bancshares is Joe Dively, who has been with the company since 1999. Under his leadership, the company has experienced significant growth and success.
9. As part of its commitment to giving back to the community, First Mid Bancshares established the First Mid Charitable Foundation in 2008. This foundation provides grants and donations to local organizations and causes.
10. In 2020, First Mid Bancshares announced plans to merge with LINCO Bancshares, Inc., a bank holding company based in Indianapolis, Indiana. The merger is expected to be completed in mid-2021 and will further expand First Mid Bancshares’ presence in the Midwest.
See Company Due Diligence: