First Mid Bancshares Inc (NASDAQ: FMBH) is a financial holding company that conducts banking operations through its wholly owned subsidiary, First Mid Bank & Trust, N.A. The company makes money primarily through net interest income on loans and deposits, supplemented by fee income from insurance, wealth management, and trust services. First Mid Bank serves customers across its Illinois and adjacent market footprint, with the holding company also operating First Mid Insurance Group (expanded via the acquisition of Mid Rivers Insurance Group in Q3 2024), First Mid Wealth Management Company (offering trust, farm services, investment services, and retirement planning), and a captive insurance subsidiary. The company expanded its banking franchise through the acquisition of Blackhawk Bank in August 2023, which was merged into First Mid Bank in December 2023. First Mid Bancshares was incorporated in Delaware, with operations centered on community banking markets. The company offers employees a stock purchase plan at a 15% discount through payroll deductions, approved by stockholders on April 25, 2018.

Revenue model

Net interest income from loans and deposits is the primary revenue driver. Fee-based income comes from insurance products and services (through First Mid Insurance Group), trust services, farm services, investment services, and retirement planning (through First Mid Wealth Management Company). The company also operates a captive insurance subsidiary.

Products and services

Commercial and retail banking through First Mid Bank & Trust, N.A.; insurance products and services through First Mid Insurance Group, Inc. (including Mid Rivers Insurance Group acquired in Q3 2024); trust services, farm services, investment services, and retirement planning through First Mid Wealth Management Company; captive insurance through First Mid Captive, Inc.

Customers and end markets

Retail and commercial banking customers, insurance buyers, trust and wealth management clients, and farm services customers. End markets include community banking, agricultural lending, and financial advisory services.

Value-chain role

Community bank holding company. Originates and holds loans, accepts deposits, distributes insurance products, and provides wealth and trust management services directly to end customers.

Geographic exposure

Illinois and adjacent markets, based on the community banking footprint described in the 10-K filed 2026-02-27.

Source: SEC 10-K, filed 2026-02-27

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