First Mid Bancshares, Inc. (NASDAQ: FMBH) (“First Mid” or “the company”) is the holding company for main subsidiary, First Mid Bank & Trust, N.A., which operates 79 locations primarily across IL, MO, and most recently, IA, with a smaller presence in WI, IN, and TX. The company has historically been acquisitive, utilizing whole-bank, branch, and loan portfolio acquisitions to strengthen its core deposit base, enhance noninterest income, diversify operations, and grow market share within its footprint — 10 deals since 2015 have added more than $6 billion in assets. Most recently, the acquisition of $1.2 billion-asset Two Rivers Financial Group (“Two Rivers”) closed in 1Q26 and expanded the franchise into IA, adding ~$1 billion of deposits and $1.2 billion of wealth AUM. Moving forward, management remains open to another whole-bank transaction as FMBH approaches the $10 billion asset threshold, while remaining opportunistic in non-bank bolt-ons, including…
Log in or Sign up for free access to this report.
KBRA is a global full-service rating agency with a mission to set a standard of excellence and integrity. Established in 2010, KBRA remains dedicated to the restoration of trust in credit ratings by creating new standards for assessing risk and by offering timely and transparent ratings. KBRA provides market participants with an alternative solution by delivering in-depth research across various sectors within the United States and European markets. We strive to provide the investment community with the products and tools needed to make informed investment decisions.