First Mid Bancshares, Inc. is a diversified financial holding company that operates primarily through its wholly-owned subsidiary, First Mid Bank & Trust, N.A. Founded in 1865 and headquartered in Mattoon, Illinois, the company provides a comprehensive suite of financial services to commercial, retail, and agricultural customers. Its core business segments include community banking, wealth management, and insurance services. The community banking division offers traditional deposit products, commercial and industrial loans, commercial real estate loans, agricultural loans, and consumer lending. The wealth management segment provides estate planning, investment services, farm management, and brokerage services, managing approximately $7.8 billion in assets. Additionally, First Mid operates the largest bank-owned insurance agency in Illinois, offering property and casualty, senior insurance products, group medical insurance, and personal lines.
Geographically, First Mid Bancshares has expanded its footprint significantly through organic growth and strategic acquisitions, operating a network of banking centers across Illinois, Missouri, Texas, Wisconsin, Iowa, and Indiana. The company's diversified revenue stream is a key competitive advantage, with non-interest income historically accounting for approximately 26% to 30% of total revenue, bolstered by its robust wealth management and insurance operations. By maintaining a conservative risk profile and a strong community-focused banking model, First Mid Bancshares has established itself as a prominent regional financial institution in the Midwest.
