First Mid Bancshares (FMBH) investor relations material

Executive summary

• Q3 net income was $33.3 million, or $1.25 diluted EPS; adjusted net income was $33.6 million, or $1.26 adjusted diluted EPS.

• Net income rose from $22.5 million a year earlier; deposits increased $44.2 million QoQ while loans declined $85.8 million, primarily on elevated CRE payoffs and customer collateral sales.

• Total assets were $9.39 billion at September 30, 2026, versus $7.97 billion at December 31, 2025; growth largely reflected the Two Rivers acquisition.

Financial highlights

• Q3 net interest income was $79.4 million, up $13.0 million YoY and down $0.3 million QoQ; 9M net interest income was $229.8 million.

• Q3 net income was $33.3 million versus $22.5 million YoY; diluted EPS was $1.25 versus $0.94. 9M net income was $87.4 million versus $68.1 million.

• Q3 provision for credit losses was a $299,000 release versus $3.4 million of expense a year earlier; 9M provision was $3.8 million versus $7.6 million.

• Q3 noninterest income was $27.2 million versus $22.9 million YoY; noninterest expense was $65.0 million versus $57.1 million.

• Total loans were $6.85 billion, down $85.8 million QoQ; deposits were $7.62 billion, up $44.2 million QoQ.

Outlook and guidance

• Evergreen transaction targets ~5% 2028E GAAP EPS accretion, or ~7% excluding the Durbin phase-in; projected 2028E pro forma ROAA is ~1.4%.

• Evergreen merger consideration is expected to include $14.1 million cash and 1,109,690 shares; closing is anticipated in H1 2027, subject to approvals and customary conditions.

• Winship Farm Management is expected to add over 8,600 acres under management over the next 3 years.

• Proceeds from the October 26 securities sale are expected to be reinvested at higher rates, with earnback expected in less than two years.