earnings
confidence high
sentiment positive
materiality 0.75
First Mid Q2 net income $19.7M, EPS $0.82; dividend raised to $0.24; MRIG acquisition closed
FIRST MID BANCSHARES, INC.
2024-Q2 EPS reported
$1.68
- Net income $19.7M, diluted EPS $0.82; adjusted net income $20.1M, adjusted EPS $0.84.
- Net interest margin expanded 11 bps to 3.36%; loans grew $61.3M to $5.56B (1.1% QoQ).
- Quarterly dividend increased $0.01 to $0.24/share; payable Aug 30, record Aug 16.
- Closed acquisition of Mid Rivers Insurance Group on July 9; annual revenue ~$2.7M from 10 producers.
- Illinois tax law change caused $1.0M nonrecurring tax expense ($0.04 EPS drag) in Q2.