First Mid Bancshares, Inc. (FMBH) Stock

First Mid Bancshares, Inc. (FMBH) is a Financials stock trading at $50.26 (as of 2026-08-21), with a market capitalization of $1.34B and a trailing P/E of 13.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

First Mid Bancshares, Inc. is a financial holding company that provides community banking services to commercial, retail, and agricultural customers in the United States. It offers deposit products, multiple categories of loans, wealth and employee benefit services, insurance offerings, and operates locations across Illinois, Missouri, and Indiana.

Understand First Mid Bancshares, Inc.: how it makes money

First Mid Bancshares provides community banking services, including deposits and loans, and also earns fee and related income from wealth management and insurance, with profitability largely tied to net interest income after credit loss provisions.

Bank earnings are driven by Net Interest Income After Provision for Credit Losses, supplemented by smaller non-interest revenues such as Wealth Management Revenue and Insurance Commissions Revenue.

Revenue by segment (latest quarter)
Wealth Mgmt	$0.0B
Ins Comm	$0.0B
Insurance	$0.0B
Other Banking	$0.1B

Business quality (Solid): Key operating drivers shown (net interest income after credit provisions and multiple credit quality metrics), but segment revenue detail is limited to a few categories, with the remainder grouped as other banking.

Valuation: At 12× earnings, FMBH trades 8% below the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

Credit losses look contained in the latest quarter: Net Charge-Offs are 0.0 USD_B, while Non-Performing Loans are 0.04 USD_B and the Allowance for Credit Losses (ACL) is 0.09 USD_B.
Core profitability supported by net interest after provisions: Net Interest Income After Provision for Credit Losses is 0.06 USD_B in the latest quarter, and the reported operating margin is 33.7%.
Fee businesses contribute to revenue mix: Wealth Management Revenue is 0.01 USD_B and Trust and Wealth Management Assets Under Management are 1.2 USD_B, with Insurance revenue and Insurance Commissions revenue each at 0.01 USD_B.

Bear case

Credit risk is still measurable: Non-Performing Loans are 0.04 USD_B, Special Mention Loans are 0.12 USD_B, and Substandard Loans are 0.04 USD_B.
Deposit funding sensitivity may exist: Percentage of Deposits That Were Uninsured is 25.9%, which can increase sensitivity to deposit funding conditions.
Branch footprint is contracting: Full-Service Branches Closed is 8.0 (with Branches at 14.0), which could affect customer access and deposit or fee generation over time.

Valuation — source: SEC EDGAR (first-party)
Price	$50.26
Market Cap	$1.34B
P/E Ratio	13.3
EV / EBITDA	8.9
Price / Book	1.21
Price / Sales	3.28
FCF Yield	8.9%
DCF Value (model)	$62.85
DCF Upside vs Price	25.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$372.99M
Net Margin	24.6%
Revenue Growth (YoY)	23.0%
EPS Growth (YoY)	7.1%
FCF Growth (YoY)	305.2%

Valuation vs Sector & Industry
Stock P/E	13.3
Sector P/E (Financials)	15.1
Industry P/E (Banking)	12.9
vs Sector	-11.9%
vs Industry	3.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($85.19M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Banking
CEO	Joseph R. Dively
Employees	1,194
Country	US
IPO Date	1999-03-16

Related Companies (Business model: Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.