First Mid Bancshares reported adjusted net income of $25.3 million for the quarter ended December 31, 2025, translating to diluted earnings per share of $1.06, exactly matching consensus estimates. This represents a 21.8% increase in EPS compared with $0.87 in the year-ago period. On an unadjusted basis, net income reached a record $23.7 million, or $0.99 per share, driven by strong performance in core lending and fee-based businesses.

Total loans expanded by $187.3 million, or 3.2%, sequentially to $6.01 billion, marking a 6.0% increase year-over-year. Growth was broad-based across construction and land development, commercial real estate, agriculture operating lines and commercial and industrial portfolios. Total deposits rose by $105.7 million, or 1.7%, to $6.40 billion, reflecting a 5.6% annual gain. Interest-bearing demand deposits led the increase with a 10.2% quarterly gain, offsetting a seasonal 4.0% decline in non-interest-bearing balances.

Allowance for credit losses stood at $74.9 million, or 1.25% of total loans, consistent with the prior quarter. Nonperforming loans rose modestly to 0.53% of total loans, driven by two specific relationships, yet the ACL covered 234% of nonperformers. Tangible book value per share increased 4.3% quarterly to $29.42, a 20.3% gain over 2024. The bank’s efficiency ratio improved to 57.55%, and capital ratios remained well above regulatory ‘well-capitalized’ thresholds, with total capital at 15.67% of risk-weighted assets and a leverage ratio of 11.07%.

During the quarter, First Mid received regulatory approval to acquire Two Rivers Financial Group, positioning the bank for entry into Iowa markets upon closing in early 2026. Technology investments culminated in the rollout of new retail online banking and core processing platforms, enhancing customer experience and operational efficiency. The board declared a quarterly dividend of $0.25 per share, payable February 27, 2026, maintaining a consistent payout policy.