First Mid Bancshares Q1 adjusted net income beats estimates, helped by Two Rivers acquisition

First Mid Bancshares

29/04/2026 21:43

Overview

U.S. regional bank's Q1 adjusted net income beat analyst expectations

GAAP EPS for Q1 was $1.06, up from $0.93 a year ago

Company closed acquisition of Two Rivers, adding $871 mln loans and $1.04 bln deposits

Outlook

Company expects merger of Two Rivers Bank to complete late in Q2, pending regulatory approval

Company does not expect significant losses from agricultural credit downgrades

Company says integration of Two Rivers acquisition progressing as expected

Result Drivers

TWO RIVERS ACQUISITION - Q1 results benefited from the addition of $871 mln in loans and $1.04 bln in deposits from the Two Rivers deal, which also contributed to higher net interest income and non-interest income

ORGANIC LOAN AND DEPOSIT GROWTH - Excluding Two Rivers, the company saw solid organic growth in commercial real estate and agricultural operating loans, as well as interest-bearing demand deposits

NET INTEREST MARGIN EXPANSION - Net interest margin rose 5 basis points to 3.78%, driven by loan growth, repricing benefits, and disciplined management of funding costs, despite anticipated dilution from Two Rivers

Company press release: ID:nGNXXbBwJ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$1.06
Q1 Adjusted Net Income
Beat
$28.40 mln
$25.39 mln (5 Analysts)
Q1 Net Income
$26.33 mln
Q1 Net Interest Income
$70.79 mln
Q1 Dividend
$0.25


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for First Mid Bancshares Inc is $47.00, about 7.4% above its April 28 closing price of $43.77

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)