First Mid Bancshares (FMBH) investor relations material

Executive summary

• Achieved record quarterly adjusted net income of $33.4 million ($1.26 diluted EPS) for Q2 2026, with reported net income of $27.8 million, reflecting strong operational performance and the successful integration of Two Rivers Bank & Trust.

• Net income for the six months ended June 30, 2026 was $54.1 million, up from $45.6 million in 2025, with diluted EPS of $2.10 versus $1.90 year-over-year.

• Total assets reached $9.2 billion at June 30, 2026, up from $8.0 billion at December 31, 2025, driven by the acquisition of Two Rivers Bank.

• Non-interest income accounted for 26% of revenue over the last 12 months, highlighting revenue diversification.

• Continued focus on organic growth, strategic M&A, and digital transformation to enhance customer experience and operational efficiency.

Financial highlights

• Net interest margin (tax equivalent) improved to 3.79% for Q2 and the six months ended June 30, 2026, up 1bps sequentially and from 3.66% in the prior year.

• Net interest income for Q2 2026 was $79.7 million, up $8.9 million sequentially and $15.8 million year-over-year, with total non-interest income rising 14.1% to $55.3 million for the first half of 2026.

• Total deposits increased to $7.57 billion, up $23.9 million from the prior quarter; total loans ended at $6.93 billion, down $9.9 million from the prior quarter.

• Adjusted return on average assets was 1.45% and adjusted return on average common equity was 12.25% for Q2 2026.

• Efficiency ratio improved to 54.4% in Q2 2026.

Outlook and guidance

• Management anticipates continued integration benefits from the Two Rivers merger, ongoing capital deployment, and further revenue and efficiency gains.

• No material changes to risk factors or market risk outlook since the last annual report.