FIRST MID BANCSHARES, INC., 10-K filed on 2/27/2026
Annual Report
v3.25.4
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2025
Feb. 27, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2025    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Entity Registrant Name FIRST MID BANCSHARES, INC.    
Entity Central Index Key 0000700565    
Entity Current Reporting Status Yes    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Interactive Data Current Yes    
Current Fiscal Year End Date --12-31    
Entity Filer Category Large Accelerated Filer    
Entity Common Stock, Shares Outstanding   24,082,479  
Entity Public Float     $ 899,341,799
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction Flag false    
Entity Shell Company false    
Entity Small Business false    
Entity Emerging Growth Company false    
Title of 12(b) Security Common Stock    
Trading Symbol FMBH    
Security Exchange Name NASDAQ    
Entity File Number 001-36434    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 37-1103704    
Entity Address, Address Line One 1421 Charleston Avenue    
Entity Address, City or Town Mattoon    
Entity Address, State or Province IL    
Entity Address, Postal Zip Code 61938    
City Area Code 217    
Local Phone Number 234-7454    
Document Annual Report true    
Document Transition Report false    
Auditor Name Forvis Mazars, LLP    
Auditor Location St. Louis, Missouri    
Auditor Firm Id 686    
Auditor Opinion

Opinion on the Consolidated Financial Statements

 

We have audited the accompanying consolidated balance sheets of First Mid Bancshares, Inc. (the “Company”) as of December 31, 2025 and 2024, the related consolidated statements of income, comprehensive income, changes in stockholders’ equity, and cash flows for each of the years in the three-year period ended December 31, 2025, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.

 

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the Company’s internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control – Integrated Framework: (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 27, 2026 expressed an unqualified opinion thereon.

    
Documents Incorporated by Reference

DOCUMENTS INCORPORATED BY REFERENCE

 

Document

Into Form 10-K Part:

Portions of the Proxy Statement for 2026 Annual Meeting of Shareholders to be held on April 29, 2026

III
   
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Cash and due from banks:    
Non-interest bearing $ 57,224 $ 92,112
Interest bearing 197,620 29,029
Federal funds sold 76 75
Cash and cash equivalents 254,920 121,216
Certificates of deposit 1,740 3,500
Investment securities:    
Available-for-sale, at fair value (amortized cost of $1,215,813 and $1,257,436 at December 31, 2025 and 2024, respectively) 1,076,883 1,063,292
Held-to-maturity, at amortized cost (estimated fair value of $2,288 and $2,279 at December 31, 2025 and 2024, respectively) 2,288 2,279
Equity securities, at fair value 4,588 4,439
Loans held for sale, at fair value 5,203 6,614
Loans 6,006,171 5,665,848
Less allowance for credit losses (74,875) (70,182)
Net loans 5,931,296 5,595,666
Interest receivable 39,949 38,639
Other real estate owned, net 2,857 2,179
Premises and equipment, net 90,782 100,234
Goodwill, net 203,391 203,391
Intangible assets, net 49,625 58,515
Bank owned life insurance 174,915 170,854
Right of use asset 12,674 13,861
Tax assets 46,167 59,586
Other assets 69,380 75,469
Total assets 7,966,658 7,519,734
Deposits:    
Non-interest bearing 1,392,534 1,329,155
Interest bearing 5,002,739 4,727,941
Total deposits 6,395,273 6,057,096
Securities sold under agreements to repurchase 196,716 204,122
Interest payable 5,782 5,280
Other borrowings 270,000 242,520
Junior subordinated debentures, net 24,454 24,280
Subordinated debt, net 60,008 87,472
Lease liability 13,210 14,190
Other liabilities 42,523 38,383
Total liabilities 7,007,966 6,673,343
Commitments and contingent liabilities (Note 17)
Stockholders’ equity:    
Common stock, $4 par value; authorized 45,000,000 shares; issued 24,671,969 and 24,564,356 shares in 2025 and 2024, respectively; outstanding 23,986,299 and 23,895,807 shares in 2025 and 2024, respectively 100,688 100,258
Additional paid-in capital 516,984 512,810
Retained earnings 463,543 395,189
Deferred compensation 2,654 2,756
Accumulated other comprehensive loss (101,301) (142,383)
Treasury stock at cost, 685,670 and 668,549 shares in 2025 and 2024, respectively (23,876) (22,239)
Total stockholders’ equity 958,692 846,391
Total liabilities and stockholders’ equity $ 7,966,658 $ 7,519,734
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Investment securities:    
Available-for-sale, amotized cost $ 1,215,813 $ 1,257,436
Held-to-maturity, at fair value $ 2,288 $ 2,279
Stockholders’ equity:    
Common stock, par value (in dollars per share) $ 4 $ 4
Common stock, authorized (in shares) 45,000,000 45,000,000
Common stock, issued (in shares) 24,671,969 24,564,356
Common stock, outstanding (in shares) 23,986,299 23,895,807
Treasury stock (in shares) 685,670 668,549
v3.25.4
Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest income:      
Interest and fees on loans $ 338,694,000 $ 320,446,000 $ 262,423,000
Interest on investment securities      
Taxable 21,593,000 21,273,000 24,949,000
Exempt from federal income tax 7,290,000 7,563,000 7,170,000
Interest on certificates of deposit 103,000 144,000 98,000
Interest on federal funds sold 3,000 53,000 419,000
Interest on deposits with other financial institutions 5,307,000 7,900,000 5,107,000
Total interest income 372,990,000 357,379,000 300,166,000
Interest expense:      
Interest on deposits 98,327,000 106,919,000 77,294,000
Interest on securities sold under repurchase agreements with customers 4,490,000 6,448,000 6,565,000
Interest on other borrowings 8,401,000 8,674,000 16,789,000
Interest on junior subordinated debentures 1,817,000 2,156,000 1,859,000
Interest on subordinated debt 3,790,000 4,454,000 4,196,000
Total interest expense 116,825,000 128,651,000 106,703,000
Net interest income 256,165,000 228,728,000 193,463,000
Provision for credit losses 9,921,000 5,635,000 6,104,000
Net interest income after provision for credit losses 246,244,000 223,093,000 187,359,000
Other income:      
Wealth management revenues 22,941,000 22,818,000 20,793,000
Insurance commissions 32,295,000 28,552,000 24,814,000
Service charges 12,297,000 12,362,000 10,881,000
Securities gains (losses), net (2,509,000) (433,000) 3,383,000
Mortgage banking revenue, net 3,660,000 3,957,000 2,282,000
ATM / debit card revenue 16,411,000 16,807,000 14,347,000
Bank owned life insurance 5,475,000 4,728,000 4,957,000
Other income 2,481,000 7,495,000 5,329,000
Total other income 93,051,000 96,286,000 86,786,000
Other expense:      
Salaries and employee benefits 134,615,000 124,134,000 104,962,000
Net occupancy and equipment expense 36,579,000 30,407,000 26,946,000
Net other real estate owned expense 539,000 411,000 1,862,000
FDIC insurance expense 3,476,000 3,463,000 3,339,000
Amortization of intangible assets 12,443,000 13,556,000 9,127,000
Stationery and supplies 1,770,000 1,885,000 1,346,000
Legal and professional 10,746,000 12,944,000 7,379,000
ATM / debit card expense 6,945,000 6,384,000 5,322,000
Marketing and donations 3,348,000 3,418,000 3,005,000
Other expense 11,786,000 18,381,000 22,452,000
Total other expense 222,247,000 214,983,000 185,740,000
Income before income taxes 117,048,000 104,396,000 88,405,000
Income taxes 25,299,000 25,498,000 19,470,000
Net income $ 91,749,000 $ 78,898,000 $ 68,935,000
Per share data:      
Basic net income per common share $ 3.84 $ 3.31 $ 3.17
Diluted net income per common share 3.83 3.3 3.15
Cash dividends declared per common share $ 98 $ 94 $ 92
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net Income (Loss) $ 91,749,000 $ 78,898,000 $ 68,935,000
Other comprehensive income (loss)      
Unrealized gains (losses) on available-for-sale securities, net of taxes of ($14,757), $2,357, and ($7,140) for the years ended December 31, 2025, 2024 and 2023, respectively 39,258,000 (6,270,000) 17,482,000
Less: reclassification adjustment for realized gains (losses) included in net income net of taxes of $685, ($119), and $981 for the years ended December 31, 2025, 2024 and 2023, respectively (1,824,000) (314,000) 2,402,000
Other comprehensive income (loss), net of taxes 41,082,000 (5,956,000) 15,080,000
Comprehensive income $ 132,831,000 $ 72,942,000 $ 84,015,000
v3.25.4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other comprehensive income (loss)      
Unrealized gains (losses) on available-for-sale securities, taxes $ (14,757) $ 2,357 $ (7,140)
Reclassification adjustment for realized gains (losses) included in net income, taxes $ (685) $ (119) $ 981
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity - USD ($)
Total
Blackhawk Bancorp, Inc
Common Stock
Common Stock
Blackhawk Bancorp, Inc
Additional Paid-in Capital
Additional Paid-in Capital
Blackhawk Bancorp, Inc
Retained Earnings
Deferred Compensation
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Beginning Balance at Dec. 31, 2022 $ 633,155,000   $ 86,366,000   $ 427,001,000   $ 289,284,000 $ 2,064,000 $ (151,507,000) $ (20,053,000)
Net Income (Loss) 68,935,000           68,935,000      
Other comprehensive income (loss), net of tax 15,080,000               15,080,000  
Dividends on common stock (19,557,000)           (19,557,000)      
Issuance of restricted shares pursuant to 2017 stock incentive plan, net of forfeitures 1,620,000   218,000   1,402,000          
Issuance of common shares pursuant to the 2017 stock incentive plan, net of forfeitures 127,000   18,000   109,000          
Issuance of shares pursuant to the acquisition   $ 93,508,000   $ 13,161,000   $ 80,347,000        
Issuance of common shares pursuant to the employee stock purchase plan 877,000   156,000   721,000          
Purchase of treasury shares (465,000)                 (465,000)
Deferred compensation (1,140,000)             (765,000)   (375,000)
Grant of restricted stock units pursuant to the 2017 stock incentive plan 1,048,000       1,048,000          
Release of restricted stock units pursuant to the 2017 stock incentive plan (1,529,000)       (1,529,000)          
Vested restricted shares/units compensation expense 1,545,000       215,000     1,330,000    
Ending Balance at Dec. 31, 2023 793,204,000   99,919,000   509,314,000   338,662,000 2,629,000 (136,427,000) (20,893,000)
Net Income (Loss) 78,898,000           78,898,000      
Other comprehensive income (loss), net of tax (5,956,000)               (5,956,000)  
Dividends on common stock (22,371,000)           (22,371,000)      
Issuance of restricted shares pursuant to 2017 stock incentive plan, net of forfeitures 1,542,000   184,000   1,358,000          
Issuance of common shares pursuant to the 2017 stock incentive plan, net of forfeitures 192,000   23,000   169,000          
Issuance of shares pursuant to the acquisition       $ 0   $ 0        
Issuance of common shares pursuant to the employee stock purchase plan 862,000   132,000   730,000          
Purchase of treasury shares (659,000)                 (659,000)
Deferred compensation (2,526,000)             (1,839,000)   (687,000)
Grant of restricted stock units pursuant to the 2017 stock incentive plan 1,634,000       1,634,000          
Release of restricted stock units pursuant to the 2017 stock incentive plan (617,000)       (617,000)          
Vested restricted shares/units compensation expense 2,188,000       222,000     1,966,000    
Ending Balance at Dec. 31, 2024 846,391,000   100,258,000   512,810,000   395,189,000 2,756,000 (142,383,000) (22,239,000)
Net Income (Loss) 91,749,000           91,749,000      
Other comprehensive income (loss), net of tax 41,082,000               41,082,000  
Dividends on common stock (23,395,000)           (23,395,000)      
Issuance of restricted shares pursuant to 2017 stock incentive plan, net of forfeitures 2,831,000   290,000   2,541,000          
Issuance of common shares pursuant to the 2017 stock incentive plan, net of forfeitures 223,000   23,000   200,000          
Issuance of common shares pursuant to the employee stock purchase plan 897,000   117,000   780,000          
Purchase of treasury shares (724,000)                 (724,000)
Deferred compensation (3,201,000)             (2,288,000)   (913,000)
Grant of restricted stock units pursuant to the 2017 stock incentive plan 2,070,000       2,070,000          
Release of restricted stock units pursuant to the 2017 stock incentive plan (1,634,000)       (1,634,000)          
Vested restricted shares/units compensation expense 2,403,000       217,000     2,186,000    
Ending Balance at Dec. 31, 2025 $ 958,692,000   $ 100,688,000   $ 516,984,000   $ 463,543,000 $ 2,654,000 $ (101,301,000) $ (23,876,000)
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dividends declared per common share $ 98 $ 94 $ 92
Stock issued during period, shares, deferred compensation 0    
Restricted stock issued during period, shares, pursuant to the 2017 stock incentive plan, net of forfeitures 72,583 45,995 54,431
Common stock issued during period, shares, pursuant to the 2017 stock incentive plan, net of forfeitures 5,717 5,717 4,600
Stock issued during period, shares, employee stock purchase plans 29,313 32,936 38,989
Purchase of treasury shares (in shares) 17,121 15,978 13,481
Blackhawk Bancorp, Inc      
Stock Issued During Period, Shares, Acquisitions     3,290,222
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 91,749 $ 78,898 $ 68,935
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for credit losses 9,921 5,635 6,104
Depreciation, amortization and accretion, net 19,771 20,778 14,904
Change in cash surrender value of bank owned life insurance (4,988) (4,728) (3,981)
Gain on cash surrender value of bank owned life insurance (487) 0 (976)
Stock-based compensation expense 2,643 2,360 1,656
Operating lease payments (3,309) (3,333) (3,263)
Loss (gain) on sale of investment securities, net 2,509 433 (3,383)
Loss (gain) on sale of other real property owned, net 325 (1,317) 4,080
Loss (gain) on sale of premises and equipment (1,890) 1,243 131
Gain on sale of loans held for sale, net (3,962) (3,596) (1,200)
Loss (gain) on repayment of subordinated debentures 589 (493) 0
Gain on repayment of other borrowings (85) 0 0
Deferred income taxes (2,338) 590 16,739
Increase in accrued interest receivable (1,310) (3,557) (2,696)
Increase in accrued interest payable 2,263 217 1,045
Origination of loans held for sale (166,179) (127,020) (62,168)
Proceeds from sale of loans held for sale 171,552 128,982 58,726
Decrease (increase) in other assets 10,566 33,524 (20,562)
(Decrease) Increase in other liabilities 3,534 (4,191) (1,674)
Net cash provided by operating activities 130,874 124,425 72,417
Cash flows from investing activities:      
Proceeds from maturities of certificates of deposit investments 2,660 245 1,180
Purchase of certificates of deposit investments (900) (2,275) (245)
Proceeds from sales of investment securities available-for-sale 51,694 32,338 343,610
Proceeds from maturities of investment securities available-for-sale 117,617 91,664 105,964
Proceeds from maturities of investment securities held-to-maturity 0 0 668
Purchase of investment securities available-for-sale (132,065) (20,109) (1,462)
Purchase of held-to-maturity investment securities (64) (53) 0
Net increase in loans (345,710) (99,074) (20,826)
Purchases of premises and equipment (6,846) (4,945) (3,639)
Proceeds from sale of premises and equipment 11,179 7 0
Proceeds from sales of other real property owned, net 811 3,637 2,461
Proceeds from bank owned life insurance death benefit 1,414 0 2,048
Net cash (used in) provided by acquisition (2,415) (8,944) 44,621
Net cash (used in) provided by investing activities (302,625) (7,509) 474,380
Cash flows from financing activities:      
Net increase (decrease) in deposits 338,177 (66,563) (328,314)
Decrease in repurchase agreements (7,406) (9,599) (7,693)
Proceeds from other borrowings 200,000 165,000 150,000
Repayment of other borrowings (172,435) (186,171) (351,141)
Proceeds from short-term debt 4,000 0 0
Repayment of short-term debt (4,000) 0 0
Repayment of subordinated debentures (29,882) (19,455) 0
Proceeds from issuance of common stock 1,120 1,054 1,004
Purchase of treasury stock (724) (659) (465)
Dividends paid on common stock (23,395) (22,371) (19,557)
Net cash (used in) provided by financing activities 305,455 (138,764) (556,166)
Increase (decrease) in cash and cash equivalents 133,704 (21,848) (9,369)
Cash and cash equivalents at beginning of period 121,216 143,064 152,433
Cash and cash equivalents at end of period 254,920 121,216 143,064
Cash paid (received) during the period for:      
Interest 116,323 128,808 104,612
Total income taxes, net of refunds 17,964 (1,524) 22,252
Supplemental disclosures of noncash investing and financing activities      
Loans transferred to other real estate owned 159 4,683 681
Fixed assets transferred to other real estate owned 1,861 0 0
Initial recognition of right-of-use assets in exchange for lease liabilities 1,667 2,729 1,399
US Federal      
Cash paid (received) during the period for:      
Total income taxes, net of refunds 13,191 (441) 16,986
State of Illinois      
Cash paid (received) during the period for:      
Total income taxes, net of refunds 3,625 (320) 3,455
State of Missouri      
Cash paid (received) during the period for:      
Total income taxes, net of refunds 573 (2) 982
State of Wisconsin      
Cash paid (received) during the period for:      
Total income taxes, net of refunds 385 (811) 505
Other      
Cash paid (received) during the period for:      
Total income taxes, net of refunds 190 50 324
LINCO Bancshares, Inc.      
Supplemental disclosures of purchases of capital stock      
Fair value of assets acquired 0 11,449 1,328,280
Cash paid 0 9,000 10,172
Common stock issued 0 0 93,508
Total consideration paid 0 9,000 103,680
Fair value of liabilities assumed $ 0 $ 2,449 $ 1,224,600
v3.25.4
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Net Income (Loss) $ 91,749,000 $ 78,898,000 $ 68,935,000
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Title directors and officers
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b5-1 Arrangement Modified false
Non-Rule 10b5-1 Arrangement Modified false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management, Strategy and Governance
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

ITEM 1C. CYBERSECURITY

Risk management and strategy

The Company’s Information Security strategy prioritizes the identification, analysis and response to known, anticipated or unexpected threats; effective management of security risks; and resiliency against incidents. The Company’s cybersecurity risk management processes include technical security controls, policy enforcement mechanisms, monitoring systems, employee training, contractual arrangements, tools and related services from third-party providers, and management oversight to

assess, identify and manage material risks from cybersecurity threats. The Company has policies in place, including an Information Security Program to implement risk-based controls to protect the Company’s information, information systems, business operations, products and related services, and the information of the Company’s customers. The Company has adopted security-control principles based on generally accepted industry-recognized standards, and contractual requirements, as applicable. The Company leverages industry associations, third-party benchmarking, the results from regular internal and third-party audits, including penetration testing, threat intelligence feeds, and other similar resources to inform the Company’s cybersecurity processes and allocate resources.

The Company maintains security programs that include physical, administrative and technical safeguards and maintains plans and procedures intended to assist the Company in preventing and appropriately responding to cybersecurity threats or incidents. Through the Company’s cybersecurity risk management process, the Company monitors on an ongoing basis cybersecurity vulnerabilities and potential attack vectors to Company systems, and evaluates the potential operational and financial effects of identified threats and related countermeasures. The Company also periodically engages third-party consultants to assist in assessing, enhancing, implementing, and monitoring the Company’s cybersecurity risk management programs and responding to incidents.

The Company conducts tabletop testing of business continuity plans as outlined in the Company’s Business Continuity Management Program. The Company has also established an Incident Response Plan that outlines steps and responsibilities to be taken during a cybersecurity incident. As part of the Company’s cybersecurity risk management process, the Company conducts an annual “tabletop” exercise during which the Company simulates cybersecurity incidents to assess preparedness and identify opportunities for improvement. These exercises are conducted at both the technical and senior management levels. In addition, all employees are required to complete mandatory annual cybersecurity training courses and participate in bi-weekly phishing simulations Designed to enhance awareness of social engineering threats.

The Company has established a Vendor Management Program that forms part of the Company’s Enterprise Risk Management program and is supported by the Company’s security, compliance, and third-party partners. Through this program, the Company assesses cybersecurity risks associated with third-party service providers with whom the Company shares personal identifying and confidential information. Vendors with access to personal identifying and confidential information are subject to more rigorous initial and more frequent ongoing due diligence, including reviews of Service Organization Control 2 reports, information security policies, vulnerability and penetration tests, human resource policies, and business continuity plans. The Company continues to enhance its oversight processes to mature how cybersecurity risks associated with third-party products and services are identified and managed.

The Company has experienced, and may in the future experience, whether directly or through the Company’s third-party partners, cybersecurity incidents. While prior incidents have not materially affected the Company’s business strategy, results of operations or financial condition, and although the Company’s processes are designed to help prevent, detect, respond to, and mitigate the impact of such incidents, there is no guarantee that a future cyber incident would not materially affect the Company’s business strategy, results of operations or financial condition. The Company maintains cyber insurance coverage intended to help mitigate certain potential losses related to cybersecurity incidents.

For further discussion about these risks, see “Item 1A. Risk Factors – Operational Risks”

The Company integrates its cybersecurity practices into the Company’s Enterprise Risk Management program to enhance the identification, assessment, and monitoring of cyber-related operational, regulatory, and compliance risks. The Enterprise Risk Management Program, Information Security Program, Incident Response Plan, Business Continuity Management Program, and Vendor Management Program are approved by the Company’s Risk Oversight Committee (ROC), which is a management committee overseen by the Company’s Board of Directors and chaired by the Company’s Chief Financial and Risk Officer. The ROC brings together a multidisciplinary group to take an enterprise-wide view risk and promote risk awareness and sound risk management practices. Subcommittees and working groups are also in place to discuss technical expertise on specific areas of risk within the Company and provide updates to ROC.

Governance

The Company’s Board of Directors has overall responsibility for risk oversight, with its committees assisting the Board in performing this function. Oversight of cybersecurity risk has been delegated to the Board Risk Committee and Audit Committee, each of which reports to the full Board on a quarterly basis. The Board Risk Committee oversees management’s implementation and maintenance of the Company’s cybersecurity risk program and management’s response to material issues. The Audit Committee reviews the Company’s cybersecurity processes and compliance with governance policies and procedures. The Enterprise Risk Management program is reviewed and approved by the Board Risk Committee.

The Company’s Information Security Risk Officer, who is a member of the risk management team reporting to the Chief Financial and Risk Officer, provides quarterly briefings to the ROC and the Board Risk Committee on cybersecurity risks. These briefings may include assessments of cyber risks, the threat landscape, updates on material incidents, and information regarding cybersecurity risk mitigation and governance. In the event of a potentially material cybersecurity incident, the Incident Response Team is notified and briefed, and meetings with the Incident Response Team, which includes management, are held, with the Board of Directors being briefed, as appropriate. The Information Security Risk Officer has over 20 years of experience in information security and network administration, including extensive experience in the banking industry, and holds multiple industry-recognized certifications.

The Company’s Chief Technology Officer, who reports to the Chief Information Officer, provides oversight of the Company’s cybersecurity program as part of broader technology leadership responsibilities. The Chief Technology Officer oversees the Company’s Security Operations Team, which supports the Company’s efforts to identify, prevent, detect, respond to and recover from cybersecurity threats. The Security Operations Team is comprised of personnel with extensive information technology experience across both public and private sectors. The Chief Technology Officer has over 25 years of experience across cybersecurity, software development, systems, networking, and other technology- disciplines, including significant experience in technology leadership roles.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]

The Company integrates its cybersecurity practices into the Company’s Enterprise Risk Management program to enhance the identification, assessment, and monitoring of cyber-related operational, regulatory, and compliance risks. The Enterprise Risk Management Program, Information Security Program, Incident Response Plan, Business Continuity Management Program, and Vendor Management Program are approved by the Company’s Risk Oversight Committee (ROC), which is a management committee overseen by the Company’s Board of Directors and chaired by the Company’s Chief Financial and Risk Officer. The ROC brings together a multidisciplinary group to take an enterprise-wide view risk and promote risk awareness and sound risk management practices. Subcommittees and working groups are also in place to discuss technical expertise on specific areas of risk within the Company and provide updates to ROC.

Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

The Company’s Board of Directors has overall responsibility for risk oversight, with its committees assisting the Board in performing this function. Oversight of cybersecurity risk has been delegated to the Board Risk Committee and Audit Committee, each of which reports to the full Board on a quarterly basis. The Board Risk Committee oversees management’s implementation and maintenance of the Company’s cybersecurity risk program and management’s response to material issues. The Audit Committee reviews the Company’s cybersecurity processes and compliance with governance policies and procedures. The Enterprise Risk Management program is reviewed and approved by the Board Risk Committee.

The Company’s Information Security Risk Officer, who is a member of the risk management team reporting to the Chief Financial and Risk Officer, provides quarterly briefings to the ROC and the Board Risk Committee on cybersecurity risks. These briefings may include assessments of cyber risks, the threat landscape, updates on material incidents, and information regarding cybersecurity risk mitigation and governance. In the event of a potentially material cybersecurity incident, the Incident Response Team is notified and briefed, and meetings with the Incident Response Team, which includes management, are held, with the Board of Directors being briefed, as appropriate. The Information Security Risk Officer has over 20 years of experience in information security and network administration, including extensive experience in the banking industry, and holds multiple industry-recognized certifications.

The Company’s Chief Technology Officer, who reports to the Chief Information Officer, provides oversight of the Company’s cybersecurity program as part of broader technology leadership responsibilities. The Chief Technology Officer oversees the Company’s Security Operations Team, which supports the Company’s efforts to identify, prevent, detect, respond to and recover from cybersecurity threats. The Security Operations Team is comprised of personnel with extensive information technology experience across both public and private sectors. The Chief Technology Officer has over 25 years of experience across cybersecurity, software development, systems, networking, and other technology- disciplines, including significant experience in technology leadership roles.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Oversight of cybersecurity risk has been delegated to the Board Risk Committee and Audit Committee, each of which reports to the full Board on a quarterly basis. The Board Risk Committee oversees management’s implementation and maintenance of the Company’s cybersecurity risk program and management’s response to material issues. The Audit Committee reviews the Company’s cybersecurity processes and compliance with governance policies and procedures. The Enterprise Risk Management program is reviewed and approved by the Board Risk Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Audit Committee reviews the Company’s cybersecurity processes and compliance with governance policies and procedures. The Enterprise Risk Management program is reviewed and approved by the Board Risk Committee.
Cybersecurity Risk Role of Management [Text Block]

The Company’s Information Security Risk Officer, who is a member of the risk management team reporting to the Chief Financial and Risk Officer, provides quarterly briefings to the ROC and the Board Risk Committee on cybersecurity risks. These briefings may include assessments of cyber risks, the threat landscape, updates on material incidents, and information regarding cybersecurity risk mitigation and governance. In the event of a potentially material cybersecurity incident, the Incident Response Team is notified and briefed, and meetings with the Incident Response Team, which includes management, are held, with the Board of Directors being briefed, as appropriate. The Information Security Risk Officer has over 20 years of experience in information security and network administration, including extensive experience in the banking industry, and holds multiple industry-recognized certifications.

The Company’s Chief Technology Officer, who reports to the Chief Information Officer, provides oversight of the Company’s cybersecurity program as part of broader technology leadership responsibilities. The Chief Technology Officer oversees the Company’s Security Operations Team, which supports the Company’s efforts to identify, prevent, detect, respond to and recover from cybersecurity threats. The Security Operations Team is comprised of personnel with extensive information technology experience across both public and private sectors. The Chief Technology Officer has over 25 years of experience across cybersecurity, software development, systems, networking, and other technology- disciplines, including significant experience in technology leadership roles.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Company’s Chief Technology Officer, who reports to the Chief Information Officer, provides oversight of the Company’s cybersecurity program as part of broader technology leadership responsibilities.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The Chief Technology Officer has over 25 years of experience across cybersecurity, software development, systems, networking, and other technology- disciplines, including significant experience in technology leadership roles.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Company’s Information Security Risk Officer, who is a member of the risk management team reporting to the Chief Financial and Risk Officer, provides quarterly briefings to the ROC and the Board Risk Committee on cybersecurity risks.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Basis of Accounting and Consolidation
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Accounting and Consolidation

Note 1 – Basis of Accounting and Consolidation

The accompanying consolidated financial statements include the accounts of First Mid Bancshares, Inc. (“Company”) and its wholly owned subsidiaries: First Mid Bank & Trust, N.A. (“First Mid Bank”), First Mid Wealth Management Company, First Mid Insurance Group, Inc. (“First Mid Insurance”) and First Mid Captive, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America.

Acquisitions

Ray Farm Management During the quarter ended December 31, 2025, Ray Farm Management Services, Inc's (RFMS) customer list was acquired by the Company for a purchase price of $764,000 and immediately assigned to First Mid Wealth Management.

AAdvantage Insurance Group LLC During the quarter ended September 30, 2025, a portion of AAdvantage Insurance Group LLC’s (AAIG) customer list was acquired by the Company for a purchase price of $2.8 million and immediately assigned to First Mid Insurance Group.

Mid Rivers Insurance Group, Inc. During the quarter ended September 30, 2024, Mid Rivers Insurance Group, Inc. was acquired by the Company for a purchase price of $10.1 million and instantly merged into First Mid Insurance Group.

Purdum, Gray, Ingledue, Beck, Inc. During the quarter ended June 30, 2024, Purdum, Gray, Ingledue, Beck, Inc. was acquired by the Company for a purchase price of $10.2 million and instantly merged into First Mid Insurance Group.

Blackhawk Bancorp, Inc. On March 20, 2023, the Company and Eagle Sub LLC, a newly formed Wisconsin limited liability company and wholly-owned subsidiary of the Company, entered into an Agreement and Plan of Merger (the “Blackhawk Merger Agreement”) with Blackhawk Bancorp, Inc., a Wisconsin corporation (“Blackhawk”), pursuant to which, among other things, agreed to acquire 100% of the issued and outstanding shares of Blackhawk pursuant to a business combination whereby Blackhawk merged with and into Merger Sub, whereupon the separate corporate existence of Blackhawk ceased and Merger Sub continued as the surviving company and a wholly-owned subsidiary of the Company (the “Blackhawk Merger”).

Subject to the terms and conditions of the Blackhawk Merger Agreement, at the effective time of the Blackhawk Merger, each share of common stock, par value $0.01 per share, of Blackhawk issued and outstanding immediately prior to the effective time of the Blackhawk Merger (other than shares held in treasury by Blackhawk and dissenting shares) were converted into and became the right to receive 1.15 shares of common stock, par value $4.00 per share, of the Company and cash in lieu of fractional shares, less any applicable taxes required to be withheld, and subject to certain potential adjustments. On an aggregate basis, the total consideration payable by the Company at the closing of the Blackhawk Merger to Blackhawk’s shareholders and equity award holders was 3,290,222 shares of Company common stock valued at $93.5 million and $2,000 of cash in lieu of fractional shares.

The Blackhawk Merger closed August 15, 2023 and Blackhawk Bank was merged into First Mid Bank on December 1, 2023.

Note 7 provides further information on the intangibles acquired in the above acquisitions.

Pending Acquisitions

On October 29, 2025, the Company and Star Sub LLC, a newly formed Iowa limited liability company and wholly-owned subsidiary of the Company, entered into an Agreement and Plan of Merger (the "Two Rivers Merger Agreement") with Two Rivers Financial Group, Inc. an Iowa corporation (Two Rivers), pursuant to which, among other things, the Company agreed to acquire 100% of the issued and outstanding shares of Two Rivers pursuant to a business combination whereby Two Rivers will merge with and into Star Sub LLC, whereupon the separate corporate existence of Two Rivers will cease and Star Sub LLC will continue as a surviving company and a wholly-owned subsidiary of the Company (the "Two Rivers Merger").

Subject to the terms and conditions of the Two Rivers Merger Agreement, at the effective time of the Two Rivers Merger, each share of common stock of Two Rivers issued and outstanding immediately prior to the effective time of the Two Rivers Merger (other than shares held in treasury by Two Rivers) will be converted into and become the right to receive 1.225 shares of common stock of the Company, and cash in lieu of fractional shares, less any applicable taxes required to be withheld, and subject to certain potential adjustments. On an aggregate basis, the total consideration payable by the Company at the closing of the Two Rivers Merger to Two Rivers' shareholders and equity award holders is approximately 2,556,140 shares of Company common stock. The Two Rivers Merger is anticipated to be completed on February 28, 2026, and has been approved by the appropriate regulatory authorities and the shareholders of Two Rivers. The Company will account for the Two Rivers Merger under ASC 805, Business Combinations, upon closing.

General Litigation

The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operations and cash flows of the Company.

Summary of Significant Accounting Policies

Segment Reporting

The Company operates as a single segment entity for financial reporting purposes and has adopted ASU 2023-07 during the year ended December 31, 2024. The Chief Financial and Risk Officer, Jordan Read (CFO), serves as the Company’s chief operating decision maker (CODM). The CODM allocates resources and assesses performance of the Company based on the consolidated performance, excluding all significant intercompany balances and transactions, of the Company and its wholly owned subsidiaries and does not significantly utilize disaggregated segment financial information for decision making and resource allocation. As of December 31, 2025, management has reviewed the requirements of ASU 2023-07 and has determined that no additional segment disclosures are required. Specifically,

•
the Company does not use the tracked performance on the disaggregated segment level for decision-making or resource allocation purposes,
•
no significant segment-specific expenses or performance metrics are used internally for decision-making or resource allocation purposes, and
•
the level of financial consolidation presented in these financial statements aligns with the CODM’s internal reporting and decision-making process

Based on this assessment the Company’s financial statement disclosures fully comply with ASU 2023-07, and no additional qualitative segment disclosures are necessary.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company uses estimates and employs the judgments of management in determining the amount of its allowance for credit losses and income tax accruals and deferrals, in its fair value measurements of investment securities, and in the evaluation of impairment of loans, goodwill, investment securities, and premises and equipment. As with any estimate, actual results could differ from these estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses. In connection with the determination of the allowance for credit losses, management obtains independent appraisals for significant properties.

Fair Value Measurements

The fair value of a financial instrument is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The Company estimates the fair value of a financial instrument using a variety of valuation methods. Where financial instruments are actively traded and have quoted market prices, quoted market prices are used for fair value. When the financial instruments are not actively traded, other observable market inputs, such as quoted prices of securities with similar characteristics, may be used, if available, to determine fair value. When observable market prices do not exist, the Company estimates fair value. The Company’s valuation methods consider factors such as liquidity and concentration concerns. Other factors such as model assumptions, market dislocations, and unexpected correlations can affect estimates of fair value. Imprecision in estimating these factors can impact the amount of revenue or loss recorded.

At the end of each quarter, the Company assesses the valuation hierarchy for each asset or liability measured. From time to time, assets or liabilities may be transferred within hierarchy levels due to changes in availability of observable market inputs to measure fair value at the measurement date. Transfers into or out of hierarchy levels are based upon the fair value at the beginning of the reporting period. A more detailed description of the fair values measured at each level of the fair value hierarchy can be found in Note 11 – “Disclosures of Fair Values of Financial Instruments.”

Cash and Cash Equivalents

For purposes of reporting cash flows, cash equivalents include non-interest-bearing and interest-bearing cash and due from banks and federal funds sold. Generally, federal funds are sold for one-day periods.

Certificates of Deposit Investments

Certificates of deposit investments have original maturities of three to five years and are carried at cost.

Investment Securities

The Company classifies its investments in debt securities as either held-to-maturity or available-for-sale in accordance with ASC 320. Securities classified as held-to-maturity are recorded at cost or amortized cost. Available-for-sale securities are carried at fair value. Due to the subjective nature of the valuation process, it is possible that the actual fair values of these investments could differ from the estimated amounts, thereby affecting the financial position, results of operations and cash flows of the Company.

For AFS securities, management determines whether the decline in fair value below the amortized cost basis (impairment) is due to credit-related or other factors. In making that evaluation, management considers the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. Any impairment on AFS securities that is related to factors other than credit is recognized in other comprehensive income, net of related deferred income taxes. Credit-related impairment on AFS securities is recognized as an allowance for credit losses ("ACL") on the balance sheet based on the amount by which the amortized cost basis exceeds the fair value, with a corresponding charge to net income. Both the ACL and charge to net income may be reversed if conditions change. However, if the Company intends to sell, or more likely than not will be required to sell, an impaired AFS security before recovering its amortized cost basis, the entire impairment must be recognized in net

income with a corresponding adjustment to the security's amortized cost basis rather than through the establishment of an ACL. For HTM securities, management determines whether an ACL is necessary after considering the facts and circumstances of the underlying investment securities and evaluates expected credit losses by security type, aggregated by similar risk characteristics, based on historical credit losses adjusted for current conditions and supportable forecasts.

Loans

Loans are stated at the principal amount outstanding net of unearned discounts, unearned income, and the allowance for credit losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximate the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding.

The Company’s policy is to discontinue the accrual of interest income on any loan that becomes ninety days past due as to principal or interest or earlier when, in the opinion of management there is reasonable doubt as to the timely collection of principal or interest. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collectability of interest or principal.

Loans expected to be sold are classified as held for sale in the consolidated financial statements and are recorded at the lower of aggregate cost or fair value, taking into consideration future commitments to sell the loans.

Allowance for Credit Losses

The Company believes the allowance for credit losses is the critical accounting policy that requires the most significant judgments and assumptions used in the preparation of its consolidated financial statements. An estimate of potential losses inherent in the loan portfolio is determined and an allowance for those losses is established by considering factors including historical loss rates, expected cash flows, and estimated collateral values. In assessing these factors, the Company uses organizational history and experience with credit decisions and related outcomes. The allowance for credit losses represents the best estimate of losses inherent in the existing loan portfolio. The allowance for credit losses is increased by the provision for credit losses charged to expense and reduced by loans charged off, net of recoveries. The Company evaluates the allowance for credit losses at least quarterly. If the underlying assumptions later prove to be inaccurate based on subsequent loss evaluations, the allowance for credit losses is adjusted.

The Company first bifurcates the loan portfolio into segments that share risk characteristics and then utilizes a DCF method to measure the ACL on loans collectively evaluated that are sub-segmented by credit risk levels. The DCF method incorporates assumptions for probability of default, loss given default, prepayments and curtailments over the contractual term of the loans. In determining the probability of default, the Company utilized regression analysis that includes the use of peer data to determine certain economic factors that are relevant loss drivers in the portfolio segments based on historical evaluations. National unemployment is a loss driver used in all portfolios.

The Company individually evaluates certain loans for impairment. A specific allowance is assigned to a loan when expected cash flows or collateral do not justify the carrying amount of the loan. Because the economic and business climate in any given industry or market, and its impact on any given borrower, can change rapidly, the risk profile of the loan portfolio is continually assessed and adjusted when appropriate. Notwithstanding these procedures, there still exists the possibility that the assessment could prove to be significantly incorrect and that an immediate adjustment to the allowance for credit losses would be required.

Premises and Equipment

Premises, equipment, and capitalized software are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are charged to expense and determined principally by the straight-line method over the estimated useful lives of the assets. The estimated useful lives for each major depreciable classification of premises, equipment and capitalized software are as follows:

 

Buildings and improvements

20 years to 40 years

Leasehold improvements

5 years to 15 years

Furniture and equipment

3 years to 7 years

Capitalized Software

3 years to 10 years

Goodwill and Intangible Assets

The Company has goodwill from business combinations, identifiable intangible assets assigned to core deposit relationships and customer lists acquired, and intangible assets arising from the rights to service mortgage loans for others.

Identifiable intangible assets generally arise from branches acquired that the Company accounted for as purchases. Such assets consist of the excess of the purchase price over the fair value of net assets acquired, with specific amounts assigned to core deposit relationships and customer lists primarily related to the insurance agency and Wealth Management Company. Intangible assets are amortized by the straight-line method over various periods up to fifteen years. Management reviews intangible assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

In accordance with GAAP, the Company performed its annual testing of goodwill for impairment as of September 30, 2025 and determined that, as of that date, goodwill was not impaired. The goodwill of a reporting unit is tested for impairment between annual tests if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets.

Other Real Estate Owned

Other real estate owned acquired through loan foreclosure is initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for credit losses. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined that fair value temporarily declines subsequent to foreclosure, a valuation allowance is recorded through non-interest expense. Operating costs associated with the assets after acquisition are also recorded as non-interest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other non-interest expense.

Bank Owned Life Insurance

First Mid Bank has purchased life insurance policies on certain senior management. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts that are probable at settlement.

Federal Home Loan Bank Stock

Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula and carried at cost. This investment is presented in other assets on the Consolidated Balance Sheet.

Income Taxes

The Company and its subsidiaries file consolidated federal and state income tax returns with each organization computing its taxes on a separate company basis. Amounts provided for income tax expense are based on income reported for financial statement purposes rather than amounts currently payable under tax laws.

Deferred tax assets and liabilities are recognized for future tax consequences attributable to the temporary differences existing between the financial statement carrying amounts of assets and liabilities and their respective tax basis, as well as operating loss and tax credit carry forwards. To the extent that current available evidence about the future raises doubt about the realization of a deferred tax asset, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as an increase or decrease in income tax expense in the period in which such change is enacted.

In accordance with GAAP, the Company reviews its uncertain tax positions annually. An uncertain tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount actually recognized is the largest amount of tax benefit that is greater than 50% likely to be recognized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. A significant amount of judgment is applied to determine both whether the tax position meets the "more likely than not" test as well as to determine the largest amount of tax benefit that is greater than 50% likely to be recognized. Differences between the position taken by management and that of taxing authorities could result in a reduction of a tax benefit or increase to tax liability, which could adversely affect future income tax expense.

Captive Insurance Company

First Mid Captive, Inc. ("the Captive"), a wholly owned subsidiary of the Company which was formed and began operations in December 2019, is a Nevada- based captive insurance company. The Captive insures against certain risks unique to the operations of the Company and its subsidiaries for which insurance may not be currently available or economically feasible in today's insurance marketplace. The Captive pools resources with several other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves. The Captive is subject to regulations of the State of Nevada and undergoes periodic examinations by the Nevada Division of Insurance. It has elected to be taxed under Section 831(b) of the Internal Revenue Code. Pursuant to Section 831(b), if gross premiums do not exceed $2,850,000, then the Captive is taxable solely on its investment income. The Captive is included in the Company's consolidated financial statements and its federal income return.

Wealth Management Assets

Assets held in fiduciary or agency capacities by First Mid Wealth Management Company are not included in the consolidated balance sheets since such items are not assets of the Company or its subsidiaries. Fees from trust activities are recorded on a cash basis over the period in which the service is provided. Fees are a function of the market value of assets managed and administered, the volume of transactions, and fees for other services rendered, as set forth in the underlying client agreement with the First Mid Wealth Management Company. This revenue recognition involves the use of estimates and assumptions, including components that are calculated based on asset valuations and transaction volumes. Any out-of-pocket expenses or services not typically covered by the fee schedule for trust activities are charged directly to the trust account on a gross basis as trust revenue is incurred. First Mid Wealth Management Company managed assets totaling $6.6 billion and $6.4 billion at December 31, 2025 and 2024, respectively.

Treasury Stock

Treasury stock is stated at cost. Cost is determined by the first-in, first-out method.

Stock Incentive Awards

At the Annual Meeting of Stockholders held April 26, 2017, the stockholders approved the 2017 Stock Incentive Plan ("SI Plan"). The SI Plan was implemented to succeed the Company's 2007 Stock Incentive Plan, which had a ten-year term. At the Annual Meeting of Stockholders held on April 30, 2025, the stockholders approved amendments to the SI Plan to change the name of the plan to the 2025 Stock Incentive Plan and to extend the term of the plan to January 21, 2035. The SI Plan is intended to provide a means whereby directors, employees, consultants and advisors of the Company and its Subsidiaries may sustain a sense of

proprietorship and personal involvement in the continued development and financial success of the Company and its Subsidiaries, thereby advancing the interests of the Company and its stockholders. Accordingly, directors and selected employees, consultants and advisors may be provided the opportunity to acquire shares of Common Stock of the Company on the terms and conditions established in the SI Plan.

Following the stockholders' approval at the 2025 annual meeting of the Company, a maximum of 1 million shares of common stock may be issued under the SI Plan. The Company awarded 84,097, 80,332 and 45,986 shares during 2025, 2024, and 2023, respectively as stock and stock unit awards.

Employee Stock Purchase Plan

At the Annual Meeting of Stockholders held April 25, 2018, the stockholders approved the First Mid Bancshares, Inc. Employee Stock Purchase Plan (“ESPP”). The ESPP is intended to promote the interests of the Company by providing eligible employees with the opportunity to purchase shares of common stock of the Company at a 15% discount through payroll deductions. The ESPP is also intended to qualify as an employee stock purchase plan under Section 423 of the Internal Revenue Code. A maximum of 600,000 shares of common stock may be issued under the ESPP. As of December 31, 2025, 2024, and 2023, 29,313, 32,936 and 38,989 shares, respectively were issued pursuant to the ESPP. As of December 31, 2025, there were 444,023 shares unassigned but available to be issued under the ESPP.

Leases

The Company has adopted ASU 2016-02, Leases (Topic 842). As of December 31, 2025 substantially all the Company's leases are operating leases are operating leases for real estate property for bank branches, ATM locations, and office space. The Company recognizes a lease liability and a right-of-use asset, based on the present value of lease payments over the lease term. The discount rate used in determining present value was the Company's incremental borrowing rate which is the FHLB fixed advance rate based on the remaining lease term.

Revenue Recognition

Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”), establishes a revenue recognition model for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. Most of the Company’s revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as loans and investment securities, and revenue related to mortgage servicing activities, which are subject to other accounting standards. A description of the revenue-generating activities that are within the scope of ASC 606, and included in other income in the Company’s condensed consolidated statements of income are as follows:

Trust revenues. The Company generates fee income from providing fiduciary services through its trust department. Fees are billed in arrears based upon the preceding period account balance. Revenue from the farm management department is recorded when service is complete, for example when crops are sold. This revenue is included in wealth management revenues on the consolidated statement of income.

Brokerage commissions. The primary brokerage revenue is recorded at the beginning of each quarter through billing to customers based on the account asset size on the last day of the previous quarter. If a withdrawal of funds takes place, a prorated refund may occur; this is reflected within the same quarter as the original billing occurred. All performance obligations are met within the same quarter that the revenue is recorded. This revenue is included in wealth management revenues on the consolidated statement of income.

Insurance commissions. The Company’s insurance agency subsidiary, First Mid Insurance, receives commissions on premiums of new and renewed business policies. First Mid Insurance records commission revenue on direct bill policies as the cash is received. For agency bill policies, First Mid Insurance retains its commission portion of the customer premium payment and remits the balance to the carrier. In both cases, the entire performance obligation is held by the carriers.

Service charges on deposits. The Company generates revenue from fees charged for deposit account maintenance, overdrafts, wire transfers, and check fees. The revenue related to deposit fees is recognized at the time the performance obligation is satisfied.

ATM/debit card revenue. The Company generates revenue through service charges on the use of its ATM machines and interchange income from the use of Company issued credit and debit cards. The revenue is recognized at the time the service is used and the performance obligation is satisfied.

Other income. Treasury management fees and lock box fees are received and recorded after the service performance obligation is completed. Merchant bank card fees are received from various vendors; however, the performance obligation is with the vendors. The Company records gains on the sale of loans and the sale of OREO properties after the transactions are complete and transfer of ownership has occurred.

As each of the Company’s facilities are located in markets with similar economies, no disaggregation of revenue is necessary.

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss included in stockholders’ equity as of December 31, 2025 and 2024 are as follows (in thousands):

 

 

 

Unrealized Gain

 

 

 

(Loss) on

 

 

 

Securities

 

December 31, 2025

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(138,930

)

Tax benefit

 

 

37,629

 

Balance at December 31, 2025

 

$

(101,301

)

December 31, 2024

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(194,144

)

Tax benefit

 

 

51,761

 

Balance at December 31, 2024

 

$

(142,383

)

Amounts reclassified from accumulated other comprehensive loss and the affected line items in the statements of income during the years ended December 31, 2025, 2024, and 2023, were as follows (in thousands):

 

 

 

Amounts Reclassified from Other Comprehensive Income

 

 

Affected Line Item in the

 

 

2025

 

 

2024

 

 

2023

 

 

Statements of Income

Realized gains (losses) on available-for-sale securities

 

$

(2,509

)

 

$

(433

)

 

$

3,383

 

 

Securities gains (losses), net (total reclassified amount before tax)

Income tax benefit (expense)

 

 

685

 

 

 

119

 

 

 

(981

)

 

Income taxes

Total reclassifications out of accumulated other comprehensive income

 

$

(1,824

)

 

$

(314

)

 

$

2,402

 

 

Net reclassified amount

See “Note 4 – Investment Securities” for more detailed information regarding unrealized losses on available-for-sale securities.

New Accounting Pronouncements

In November 2025, the Financial Accounting Standards Board (FASB) published Accounting Standards Update (ASU) 2025-08, Financial Instruments Credit Losses (Topic 326): Purchased Loans (ASU 2025-08). The update was published with the intent to eliminate the current expected credit loss (CECL) “double
count” on non Purchase Credit Deteriorated (PCD) Loans. The update accomplishes this through using “gross up” methodology that is similar to the methodology used
on PCD Loans. In the new method all “purchased seasoned loans” are grossed up for the Allowance of Credit Losses (ACL) expected on the loans. Purchased
seasoned loans are defined as either:

•
a loan that is obtained through a business combination accounted for using the acquisition method (most common for the Company)
•
a loan obtained through a transfer that is a not a business combination accounted for using the acquisition method or initially recognized through the
consolidation of a variable interest entity and these loans must meet both of following criteria:
•
the loan is obtained more than 90 days after its origination date; and
•
the acquirer was not involved in the loan’s origination

The Company plans to adopt this standard prospectively as of January 1, 2026.

In December 2023, the Financial Accounting Standards Board issued ASU No. 2023-09, Income Tax (Topic 740): Improvements to Income Tax Disclosures. The amendments expand the disclosure requirements of income taxes, primarily related to the income tax rate reconciliation and income taxes paid with the intention to enhance transparency and decision usefulness of income tax disclosures. The amendments were effective for fiscal years beginning after December 15, 2024. Early adoption was permitted and not implemented by the Company. The adoption of this accounting pronouncement had no impact on the Financial Statements aside from additional disclosures presented in Note 15.

v3.25.4
Earnings Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share

Note 2 -- Earnings Per Share

Basic net income per common share available to common stockholders is calculated as net income less preferred stock dividends divided by the weighted average number of common shares outstanding. Diluted net income per common share available to common stockholders is computed using the weighted average number of common shares outstanding, increased by the assumed conversion of the Company’s convertible preferred stock and the Company’s stock options and restricted stock awarded, unless anti-dilutive.

The components of basic and diluted net income per common share available to common stockholders for the years ended December 31, 2025, 2024, and 2023 were as follows:

 

 

 

2025

 

 

2024

 

 

2023

 

Basic net income per common share available to common stockholders:

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

 

$

91,749,000

 

 

$

78,898,000

 

 

$

68,935,000

 

Weighted average common shares outstanding

 

 

23,873,495

 

 

 

23,800,523

 

 

 

21,780,217

 

Basic earnings per common share

 

$

3.84

 

 

$

3.31

 

 

$

3.17

 

Diluted net income per common share available to common stockholders:

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

 

$

91,749,000

 

 

$

78,898,000

 

 

$

68,935,000

 

Weighted average common shares outstanding

 

 

23,873,495

 

 

 

23,800,523

 

 

 

21,780,217

 

Dilutive potential common shares:

 

 

 

 

 

 

 

 

 

Restricted stock awarded

 

 

113,013

 

 

 

95,158

 

 

 

88,571

 

Dilutive potential common shares

 

 

113,013

 

 

 

95,158

 

 

 

88,571

 

Diluted weighted average common shares outstanding

 

 

23,986,508

 

 

 

23,895,681

 

 

 

21,868,788

 

Diluted earnings per common share

 

$

3.83

 

 

$

3.30

 

 

$

3.15

 

There were no shares not considered in computing diluted earnings per share for the years ended December 31, 2025, 2024, and 2023.
v3.25.4
Cash and Due from Banks
 12 Months Ended
Dec. 31, 2025
Cash and Cash Equivalents [Abstract]  
Cash and Due from Banks

Note 3 -- Cash and Due from Banks

At December 31, 2025, the Company's cash accounts exceeded federal insurance limits by $3.7 million. There have been no losses on these accounts.
v3.25.4
Investment Securities
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investment Securities

Note 4 -- Investment Securities

The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at December 31, 2025 and 2024 were as follows (in thousands):

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

 

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Fair Value

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

153,859

 

 

$

3

 

 

$

(9,782

)

 

$

144,080

 

Obligations of states and political subdivisions

 

 

327,950

 

 

 

341

 

 

 

(47,658

)

 

 

280,633

 

Mortgage-backed securities (1)

 

 

705,728

 

 

 

2,458

 

 

 

(83,520

)

 

 

624,666

 

Corporate bonded debt

 

 

28,276

 

 

 

—

 

 

 

(772

)

 

 

27,504

 

Total available-for-sale

 

$

1,215,813

 

 

$

2,802

 

 

$

(141,732

)

 

$

1,076,883

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Other securities

 

$

2,288

 

 

$

—

 

 

$

—

 

 

$

2,288

 

Total held-to-maturity

 

$

2,288

 

 

$

—

 

 

$

—

 

 

$

2,288

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

212,513

 

 

$

3

 

 

$

(21,158

)

 

$

191,358

 

Obligations of states and political subdivisions

 

 

324,046

 

 

 

135

 

 

 

(56,441

)

 

 

267,740

 

Mortgage-backed securities (1)

 

 

653,760

 

 

 

552

 

 

 

(114,570

)

 

 

539,742

 

Corporate bonded debt

 

 

67,117

 

 

 

—

 

 

 

(2,665

)

 

 

64,452

 

Total available-for-sale

 

$

1,257,436

 

 

$

690

 

 

$

(194,834

)

 

$

1,063,292

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Other securities

 

$

2,279

 

 

$

—

 

 

$

—

 

 

$

2,279

 

Total held-to-maturity

 

$

2,279

 

 

$

—

 

 

$

—

 

 

$

2,279

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Mortgage-backed securities include mortgage-backed securities (MBS) and collateralized mortgage obligation (CMO) issues from the following government sponsored enterprises: FHLMC, FNMA, GNMA and FHLB.

 

The Company also had $4.6 million and $4.4 million of equity securities, at fair value, as of December 31, 2025 and 2024, respectively. All the Company's held-to-maturity securities are government agency-backed securities for which the risk of loss is minimal. As such, as of December 31, 2025, the Company did not record an allowance for credit losses on its held-to-maturity securities.

 

Proceeds from sales of available-for-sale investment securities, realized gains and losses and income tax expense were as follows during the years ended December 31, 2025, 2024, and 2023 (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Proceeds from sales

 

$

51,694

 

 

$

32,338

 

 

$

343,610

 

Gross gains

 

 

2

 

 

 

46

 

 

 

4,381

 

Gross losses

 

 

(2,511

)

 

 

(479

)

 

 

(998

)

Income tax benefit (expense)

 

 

685

 

 

 

119

 

 

 

(981

)

The following table presents the aging of gross unrealized losses and fair value by investment category as of December 31, 2025 and 2024 (in thousands):

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

—

 

 

$

—

 

 

$

142,833

 

 

$

(9,782

)

 

$

142,833

 

 

$

(9,782

)

Obligations of states and political subdivisions

 

 

5,923

 

 

 

(8

)

 

 

246,076

 

 

 

(47,650

)

 

 

251,999

 

 

 

(47,658

)

Mortgage-backed securities (1)

 

 

11,327

 

 

 

(102

)

 

 

480,583

 

 

 

(83,418

)

 

 

491,910

 

 

 

(83,520

)

Corporate bonded debt

 

 

3,967

 

 

 

(33

)

 

 

19,203

 

 

 

(739

)

 

 

23,170

 

 

 

(772

)

Total

 

$

21,217

 

 

$

(143

)

 

$

888,695

 

 

$

(141,589

)

 

$

909,912

 

 

$

(141,732

)

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

1,340

 

 

$

—

 

 

$

189,327

 

 

$

(21,158

)

 

$

190,667

 

 

$

(21,158

)

Obligations of states and political subdivisions

 

 

20,349

 

 

 

(1,248

)

 

 

241,502

 

 

 

(55,193

)

 

 

261,851

 

 

 

(56,441

)

Mortgage-backed securities (1)

 

 

1,135

 

 

 

(18

)

 

 

511,746

 

 

 

(114,552

)

 

 

512,881

 

 

 

(114,570

)

Corporate bonded debt

 

 

—

 

 

 

—

 

 

 

58,702

 

 

 

(2,665

)

 

 

58,702

 

 

 

(2,665

)

Total

 

$

22,824

 

 

$

(1,266

)

 

$

1,001,277

 

 

$

(193,568

)

 

$

1,024,101

 

 

$

(194,834

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Mortgage-backed securities include mortgage-backed securities (MBS) and collateralized mortgage obligation (CMO) issues from the following government sponsored enterprises: FHLMC, FNMA, GNMA and FHLB.

 

At December 31, 2025, there were four hundred eighty-eight available-for-sale securities with a fair value of $888.7 million and unrealized losses of $141.6 million in a continuous unrealized loss position for twelve months or more. At December 31, 2024, there were five hundred fifty-seven available-for-sale securities with a fair value of $1.0 billion and unrealized losses of $193.6 million in a continuous unrealized loss position for twelve months or more.

At December 31, 2025 and December 31, 2024, there were no held-to-maturity securities in a continuous unrealized loss position for twelve months or more.

The Company does not consider available-for-sale securities with unrealized losses at December 31, 2025, to be experiencing credit losses and recognized no resulting allowance for credit losses. The Company does not intend to sell a significant amount of these investments, and it is more likely than not that the Company will not be required to sell these investments before recovery of the amortized cost basis, which may be the maturity dates of the securities. The unrealized losses occurred as a result of changes in interest rates, market spreads and market conditions subsequent to purchase.

Maturities of investment securities were as follows at December 31, 2025 (in thousands):

 

 

 

Amortized

 

 

Estimated

 

 

 

Cost

 

 

Fair Value

 

Available-for-sale:

 

 

 

 

 

 

Due in one year or less

 

$

216,897

 

 

$

203,803

 

Due in one-five years

 

 

285,112

 

 

 

240,360

 

Due in five-ten years

 

 

7,696

 

 

 

7,713

 

Due after ten years

 

 

380

 

 

 

341

 

 

 

510,085

 

 

 

452,217

 

Mortgage-backed securities (1)

 

 

705,728

 

 

 

624,666

 

Total available-for-sale

 

$

1,215,813

 

 

$

1,076,883

 

Held-to-maturity:

 

 

 

 

 

 

Due after ten years

 

 

2,288

 

 

 

2,288

 

Total held-to-maturity

 

$

2,288

 

 

$

2,288

 

 

 

 

 

 

 

 

(1) Mortgage-backed securities include mortgage-backed securities (MBS) and collateralized mortgage obligation (CMO) issues from the following government sponsored enterprises: FHLMC, FNMA, GNMA and FHLB.

 

Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
v3.25.4
Loans and Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans and Allowance for Credit Losses

Note 5 -- Loans and Allowance for Credit Losses

Loans are stated at the principal amount outstanding net of unearned discounts, unearned income, and allowance for credit losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximated the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding. A summary of loans at December 31, 2025 and 2024 follows (in thousands):

 

 

 

2025

 

 

2024

 

Construction and land development

 

$

361,678

 

 

$

236,258

 

Agricultural real estate

 

 

374,143

 

 

 

391,436

 

1-4 family residential properties

 

 

494,258

 

 

 

502,243

 

Multifamily residential properties

 

 

340,324

 

 

 

334,032

 

Commercial real estate

 

 

2,582,404

 

 

 

2,442,627

 

Loans secured by real estate

 

 

4,152,807

 

 

 

3,906,596

 

Agricultural loans

 

 

307,290

 

 

 

239,138

 

Commercial and industrial loans

 

 

1,385,421

 

 

 

1,340,865

 

Consumer loans

 

 

32,109

 

 

 

54,481

 

All other loans

 

 

161,604

 

 

 

169,232

 

Total gross loans

 

 

6,039,231

 

 

 

5,710,312

 

Less: loans held for sale

 

 

5,203

 

 

 

6,614

 

Total gross loans held for investment

 

 

6,034,028

 

 

 

5,703,698

 

Less:

 

 

 

 

 

 

Net deferred loan fees, premiums and discounts

 

 

27,857

 

 

 

37,850

 

Allowance for credit losses

 

 

74,875

 

 

 

70,182

 

Net loans

 

$

5,931,296

 

 

$

5,595,666

 

Net loans increased $335.6 million as of December 31, 2025 compared to December 31, 2024. Loans expected to be sold are classified as held for sale in the consolidated financial statements and are recorded at the lower of aggregate cost or fair value, taking into consideration future commitments to sell the loans. These loans are primarily for 1-4 family residential properties. Accrued interest on loans, which is excluded from the amortized cost of the balances above, totaled $35.1 million and $33.7 million at December 31, 2025 and 2024, respectively.

The structure of the Company’s loan approval process is based on progressively larger lending authorities granted to individual loan officers, loan committees, and ultimately the board of directors. Outstanding balances to one borrower or affiliated borrowers are limited by federal regulation; however, limits well below the regulatory thresholds are generally observed. The vast majority of the Company’s loans are to businesses located in the geographic market areas served by the Company’s branch network. Additionally, a significant portion of the collateral securing the loans in the portfolio is located within the Company’s primary geographic footprint. In general, the Company adheres to loan underwriting standards consistent with industry guidelines for all loan segments. The Company’s lending can be summarized into the following primary areas:

Commercial Real Estate Loans. Commercial real estate loans are generally comprised of loans to small business entities to purchase or expand structures in which the business operations are housed, loans to owners of real estate who lease space to non-related commercial entities, loans for construction and land development, loans to hotel and motel operators, and loans to owners of multifamily residential structures, such as apartment buildings. Commercial real estate loans are

underwritten based on historical and projected cash flows of the borrower and secondarily on the underlying real estate pledged as collateral on the debt. For the various types of commercial real estate loans, minimum criteria have been established within the Company’s loan policy regarding debt service coverage while maximum limits on loan-to-value and amortization periods have been defined. Maximum loan-to-value ratios range from 65% to 85% depending upon the type of real estate collateral, while the desired minimum debt coverage ratio is 1.20x to 1.35x. Amortization periods for commercial real estate loans are generally limited to twenty to thirty years, depending on the collateral type and loan-to-value. The Company’s commercial real estate portfolio is below the thresholds of 300 percent of the Company's total capital that would designate a concentration in commercial real estate lending, as established by the federal banking regulators.

The following table represents the gross commercial real estate loans by property type as of December 31, 2025 (in thousands):

 

 

 

December 31, 2025

 

Commercial real estate

 

 

 

Owner occupied

 

$

747,512

 

Non owner occupied

 

 

 

Shopping centers and malls

 

 

264,961

 

Industrial and warehouse

 

 

237,522

 

Hotels and motels

 

 

218,073

 

Skilled nursing facility

 

 

187,875

 

Assisted living facility

 

 

170,733

 

Office

 

 

160,524

 

Retail

 

 

112,169

 

RV parks and campgrounds

 

 

104,267

 

Other property types

 

 

378,768

 

Total commercial real estate

 

$

2,582,404

 

Commercial and Industrial Loans. Commercial and industrial loans are primarily comprised of working capital loans used to purchase inventory and fund accounts receivable that are secured by business assets other than real estate. These loans are generally written for one year or less. Also, equipment financing is provided to businesses with these loans generally limited to 80% of the value of the collateral and amortization periods limited to seven years. Commercial loans are often accompanied by a personal guaranty of the principal owners of a business. Like commercial real estate loans, the underlying cash flow of the business is the primary consideration in the underwriting process. The financial condition of commercial borrowers is monitored at least annually with the type of financial information required determined by the size of the relationship. Measures employed by the Company for businesses with higher risk profiles include the use of government-assisted lending programs through the Small Business Administration and U.S. Department of Agriculture.

Agricultural and Agricultural Real Estate Loans. Agricultural loans are generally comprised of seasonal operating lines to grain farmers to plant and harvest corn and soybeans and term loans to fund the purchase of equipment. Agricultural real estate loans are primarily comprised of loans for the purchase of farmland. Specific underwriting standards have been established for agricultural-related loans including the establishment of projections for each operating year based on industry developed estimates of farm input costs and expected commodity yields and prices. Operating lines are typically written for one year and secured by the crop. Loan-to-value ratios on loans secured by farmland generally do not exceed 80% and have amortization periods ranging from twenty-five to thirty years depending on the loan-to-value. Federal government-assistance lending programs through the Farm Service Agency are used to mitigate the level of credit risk when deemed appropriate.

Residential Real Estate Loans. Residential real estate loans generally include loans for the purchase or refinance of residential real estate properties consisting of one-to-four units and home equity loans and lines of credit. The Company sells most of its long-term fixed rate residential real estate loans to secondary market investors. The Company also releases the servicing of these loans upon sale. Residential real estate loans are typically underwritten to conform to industry standards including criteria for maximum debt-to-income and loan-to-value ratios as well as minimum credit scores. Loans secured by first liens on residential real estate held in the portfolio typically do not exceed 80% of the value of the collateral and have amortization periods of twenty-five years or less. The Company does not originate subprime mortgage loans.

Consumer Loans. Consumer loans are primarily comprised of loans to individuals for personal and household purposes such as the purchase of an automobile or other living expenses. Minimum underwriting criteria have been established that consider credit score, debt-to-income ratio, employment history, and collateral coverage. Typically, consumer loans are set up on monthly payments with amortization periods based on the type and age of the collateral.

Construction and land development loans. Construction and land development loans are generally comprised of loans of all sizes, across many different industries, and can include properties for commercial businesses or land development or for residential use such as multi-family properties. Commercial and land development loans are underwritten based on historical and projected cash flows of the borrower and secondarily on the underlying real estate pledged as collateral on the debt. Construction and land development loans include unique risks that require enhanced diligence by lending personnel. For these loans, documentation requirements have been established within policy and a specific checklist is followed. Additionally, based on the type of construction loan, the policy is also followed to designate the construction and land development loans as high-volatility commercial real estate if the loan meets the criteria. To ensure consistent construction loan monitoring, loans greater than $2,000,000 must be monitored by the Bank’s construction monitoring staff.

The policy also establishes maximum loan-to-value/amortizations, terms, construction periods, cash investments, pre-sale/lease and other requirements and are specific to the type of property including non-farm, non-residential secured loans as well as multi-family, 1-4 family non-owner occupied, land acquisition/development/vacant lot acquisition, and raw land. Maximum loan-to-value ratios range from 65% to 80% depending upon the type of real estate collateral. Amortization periods for construction and land development loans are generally limited to twenty to thirty years, depending on the collateral type and loan-to-value. The Company’s construction and land development portfolio is below the thresholds of 100 percent of the Company's total capital that would designate a concentration in construction and land development lending, as established by the federal banking regulators.

Other Loans. Other loans consist primarily of loans to municipalities to support community projects such as infrastructure improvements or equipment purchases. Underwriting guidelines for these loans are consistent with those established for commercial loans with the additional repayment source of the taxing authority of the municipality.

Allowance for Credit Losses

The allowance for credit losses represents the Company’s best estimate of the reserve necessary to adequately account for probable losses expected over the remaining contractual life of the assets. The provision for credit losses is the charge against current earnings that is determined by the Company as the amount needed to maintain an adequate allowance for credit losses. In determining the adequacy of the allowance for credit losses, and therefore the provision to be charged to current earnings, the Company relies predominantly on a disciplined credit review and approval process that extends to the full range of the Company’s credit exposure. The review process is directed by the overall lending policy and is intended to identify, at the earliest possible stage, borrowers who might be facing financial difficulty. Factors considered by the Company in evaluating the overall adequacy of the allowance include historical net credit losses, the level and composition of nonaccrual, past due and modified loans, trends in volumes and terms of loans, effects of changes in risk selection and underwriting standards or lending practices, lending staff changes, concentrations of credit, industry conditions and the current economic conditions in the region where the Company operates. The Company estimates the appropriate level of allowance for credit losses by evaluating large substandard, and large impaired loans separately from other loans.

Individually Evaluated Loans

The Company individually evaluates certain loans for impairment. Loans are individually evaluated for expected credit losses when their principal balance exceeds $250,000 and they are in nonaccrual status, designated as having a modification or probable of being foreclosed. For loans that allowance for credit loss is individually measured each quarter one of three alternatives is used: (1) the present value of expected future cash flows discounted at the loan’s effective interest rate; (2) the loan’s observable market price, if available; or (3) the fair value of the collateral less costs to sell for collateral dependent loans and loans for which foreclosure is deemed to be probable. A specific allowance is assigned when expected cash flows or collateral are less than the carrying amount of the loan. The carrying value of the loan reflects reductions from prior charge-offs.

Non-Individually Evaluated Loans

Non-individually evaluated loans comprise the vast majority of the Company’s total loan portfolio and include loans in accrual status and those credits not identified as modified loans. A small portion of these loans are considered “criticized” due to the risk rating assigned reflecting elevated credit risk due to characteristics, such as a strained cash flow position, associated with the individual borrowers. Criticized loans are those assigned risk ratings of Special Mention, Substandard, or Doubtful.

The Company first bifurcates the loan portfolio into segments that share risk characteristics and then utilizes a discounted cash flow (DCF) method to measure the ACL on loans collectively evaluated that are sub-segmented by credit risk levels. The DCF method incorporates assumptions for probability of default, loss given default, prepayments and curtailments over the contractual term of the loans. In determining the probability of default, the Company utilized regression analysis that includes the use of peer data to determine certain economic factors that are relevant loss drivers in the portfolio segments based on historical evaluations. National unemployment is a loss driver used in all portfolios.

Within each pool, factors are evaluated that have specific impacts to the borrowers within the pool. These, along with the general risks and events, and the specific lending policies and procedures by loan type described above, are analyzed to estimate the qualitative factors used to adjust the historical loss rates.

During the current period, the following assumptions and factors were considered when determining the historical loss rate and any potential adjustments by loan pool.

Construction and Land Development Loans. Historical losses in this segment remain very low. While inflationary pressures have caused some risk in this segment, most projects are associated with financially strong borrowers. The qualitative factors for this segment reduced slightly for the year due to concentration levels.

Agricultural Real Estate Loans. Historical losses in the segment remain very low. Farmland values have increased over an extended period of time. While values have declined slightly from their peak, values have held up well overall. This continues to drive low loan to values in this segment. The qualitative factors for this segment declined during the year due to this performance.

Residential Real Estate Non-Owner Occupied Loans. The loan segment has remained stable throughout the last several years. Both adversely classified and past dues have been consistent. There was no change to the qualitative factors for this segment.

Residential Real Estate Owner Occupied Loans. The loan segment has remained stable throughout the last several years. The severity of past due loans improved during the year, driving an overall reduction in the qualitative factors associated with this segment.

HELOC Loans. These loans are a small segment to overall loan balances. There was no change to the qualitative factors for this segment during the year.

Commercial Real Estate Owner Occupied Loans. This segment has remained stable, reflecting less uncertainty to recessionary risks that were high in prior years with the rapid movement in interest rates and inflationary pressures. Given the lower trend in interest rates and cash flow stability of the segment, the Company lowered its qualitative factors during the year.

Commercial Real Estate Non-Owner Occupied Loans. This segment includes the Company's largest balances. With fluctuations during the year for the qualitative factor driven by past dues within the segment, the qualitative factors ended the year in line with prior year end.

Agricultural Loans. Losses in this segment are very low. The qualitative factors for this segment fluctuated during the year due to overall past dues. The qualitative factors ended the year lower from improvement in the overall macroeconomic outlook for the agricultural industry including improved commodity prices and proposed government assistance. In addition, overall past due levels drove the qualitative factor lower.

Commercial and Industrial Loans. The qualitative factors for this segment were reduced during the year. Most of the repricing for higher rates in this loan segment has already occurred and prior years increases for higher risk were no longer necessary. In addition, tariff impacts had minimal overall impacts on the portfolio.

Consumer Loans. This segment is a small portion of the Company's loan portfolio. While historical net charge-offs have been immaterial in this segment, there was an increase in past dues that resulted in an increase to the qualitative factor to reflect the higher risk.

Acquired Loans. Loans acquired in a business combination after January 1, 2020, that have experienced more-than-insignificant deterioration in credit quality since origination are considered purchased credit deteriorated (“PCD”) loans. At the acquisition date, an estimate of expected credit losses is made for groups of PCD loans with similar risk characteristics and individual PCD loans without similar risk characteristics. This initial allowance for credit losses is allocated to individual PCD loans and added to the purchase price or acquisition date fair values to establish the initial amortized cost basis of the PCD loans. As the initial allowance for credit losses is added to the purchase price, there is no credit loss expense recognized upon acquisition of a PCD loan. Any difference between the unpaid principal balance of PCD loans and the amortized cost basis is considered to relate to noncredit factors and results in a discount or premium. Discounts and premiums are recognized through interest income on a level-yield method over the life of the loans. For acquired loans not deemed purchased credit deteriorated at acquisition, the differences between the initial fair value and the unpaid principal balance are recognized as interest income on a level-yield basis over the lives of the related loans. At the acquisition date, an initial allowance for expected credit losses is estimated and recorded as credit loss expense. The subsequent measurement of expected credit losses for all acquired loans is the same as the subsequent measurement of expected credit losses for originated loans.

The following tables present the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2025, 2024, and 2023 (in thousands):

 

 

 

Construction
and Land
Development

 

 

Agricultural
Real Estate

 

 

1-4 Family
Residential
Properties

 

 

Commercial
Real Estate

 

 

Agricultural
Loans

 

 

Commercial
and
Industrial

 

 

Consumer
Loans

 

 

Total

 

Twelve months ended December 31, 2025

 

Beginning Balance

 

$

3,275

 

 

$

1,361

 

 

$

3,579

 

 

$

32,669

 

 

$

1,957

 

 

$

25,602

 

 

$

1,739

 

 

$

70,182

 

Initial allowance on loans purchased with credit deterioration

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provision for credit loss expense

 

 

1,961

 

 

 

(131

)

 

 

66

 

 

 

4,003

 

 

 

925

 

 

 

2,582

 

 

 

515

 

 

 

9,921

 

Loans charged off

 

 

107

 

 

 

—

 

 

 

156

 

 

 

1,197

 

 

 

2,503

 

 

 

2,485

 

 

 

1,425

 

 

 

7,873

 

Recoveries collected

 

 

—

 

 

 

53

 

 

 

264

 

 

 

114

 

 

 

1,022

 

 

 

586

 

 

 

606

 

 

 

2,645

 

Ending balance

 

$

5,129

 

 

$

1,283

 

 

$

3,753

 

 

$

35,589

 

 

$

1,401

 

 

$

26,285

 

 

$

1,435

 

 

$

74,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended December 31, 2024

 

Beginning Balance

 

$

2,918

 

 

$

1,366

 

 

$

4,220

 

 

$

31,758

 

 

$

705

 

 

$

25,450

 

 

$

2,258

 

 

$

68,675

 

Initial allowance on loans purchased with credit deterioration

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provision for credit loss expense

 

 

352

 

 

 

(5

)

 

 

(785

)

 

 

1,178

 

 

 

3,587

 

 

 

510

 

 

 

798

 

 

 

5,635

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

195

 

 

 

451

 

 

 

2,410

 

 

 

688

 

 

 

2,004

 

 

 

5,748

 

Recoveries collected

 

 

5

 

 

 

—

 

 

 

339

 

 

 

184

 

 

 

75

 

 

 

330

 

 

 

687

 

 

 

1,620

 

Ending balance

 

$

3,275

 

 

$

1,361

 

 

$

3,579

 

 

$

32,669

 

 

$

1,957

 

 

$

25,602

 

 

$

1,739

 

 

$

70,182

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended December 31, 2023

 

Beginning Balance

 

$

2,250

 

 

$

1,433

 

 

$

3,742

 

 

$

28,157

 

 

$

585

 

 

$

20,808

 

 

$

2,118

 

 

$

59,093

 

Initial allowance on loans purchased with credit deterioration

 

 

308

 

 

 

—

 

 

 

124

 

 

 

1,066

 

 

 

—

 

 

 

2,273

 

 

 

20

 

 

 

3,791

 

Provision for credit loss expense

 

 

374

 

 

 

(67

)

 

 

225

 

 

 

1,755

 

 

 

490

 

 

 

2,322

 

 

 

1,005

 

 

 

6,104

 

Loans charged off

 

 

14

 

 

 

—

 

 

 

87

 

 

 

25

 

 

 

408

 

 

 

529

 

 

 

1,568

 

 

 

2,631

 

Recoveries collected

 

 

—

 

 

 

—

 

 

 

216

 

 

 

805

 

 

 

38

 

 

 

576

 

 

 

683

 

 

 

2,318

 

Ending balance

 

$

2,918

 

 

$

1,366

 

 

$

4,220

 

 

$

31,758

 

 

$

705

 

 

$

25,450

 

 

$

2,258

 

 

$

68,675

 

Consistent with regulatory guidance, charge-offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. The Company’s policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined. For all loan portfolio segments except 1-4 family residential properties and consumer, the Company promptly charges-off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including

bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral.

The Company charges-off 1-4 family residential and consumer loans, or portions thereof, when the Company reasonably determines the amount of the loss. The Company adheres to time frames established by applicable regulatory guidance which provides for the charge-down of 1-4 family first and junior lien mortgages to the net realizable value less costs to sell when the loan is 180 days past due, charge-off of unsecured open-end loans when the loan is 180 days past due, and charge down to the net realizable value when other secured loans are 120 days past due. Loans at these respective delinquency thresholds for which the Company can clearly document that the loan is both well-secured and in the process of collection, such that collection will occur regardless of delinquency status, need not be charged off.

The following table presents the amortized cost basis of collateral-dependent loans by class of loans that were individually evaluated to determine expected credit losses, and the related allowance for credit losses, as of December 31, 2025 and 2024 (in thousands):

 

 

 

Collateral

 

 

Allowance

 

 

 

Real Estate

 

 

Business
Assets

 

 

Other

 

 

Total

 

 

for Credit
Losses

 

Twelve months ended December 31, 2025

 

Agricultural real estate

 

$

111

 

 

 

—

 

 

 

—

 

 

$

111

 

 

 

—

 

1-4 family residential properties

 

 

600

 

 

 

—

 

 

 

—

 

 

 

600

 

 

 

—

 

Multifamily residential properties

 

 

371

 

 

 

—

 

 

 

—

 

 

 

371

 

 

 

—

 

Commercial real estate

 

 

30,208

 

 

 

—

 

 

 

—

 

 

 

30,208

 

 

 

13

 

Loans secured by real estate

 

 

31,290

 

 

 

—

 

 

 

—

 

 

 

31,290

 

 

 

13

 

Commercial and industrial loans

 

 

—

 

 

 

7,123

 

 

 

29

 

 

 

7,152

 

 

 

392

 

All other loans

 

 

—

 

 

 

11,184

 

 

 

—

 

 

 

11,184

 

 

 

84

 

Total loans

 

$

31,290

 

 

$

18,307

 

 

$

29

 

 

$

49,626

 

 

$

489

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended December 31, 2024

 

Agricultural real estate

 

$

1,107

 

 

 

—

 

 

 

—

 

 

$

1,107

 

 

 

—

 

1-4 family residential properties

 

 

360

 

 

 

—

 

 

 

—

 

 

 

360

 

 

 

—

 

Multifamily residential properties

 

 

895

 

 

 

—

 

 

 

—

 

 

 

895

 

 

 

—

 

Commercial real estate

 

 

4,430

 

 

 

—

 

 

 

—

 

 

 

4,430

 

 

 

196

 

Loans secured by real estate

 

 

6,792

 

 

 

—

 

 

 

—

 

 

 

6,792

 

 

 

196

 

Agricultural loans

 

 

600

 

 

 

9,526

 

 

 

—

 

 

 

10,126

 

 

 

788

 

Commercial and industrial loans

 

 

57

 

 

 

1,234

 

 

 

—

 

 

 

1,291

 

 

 

260

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total loans

 

$

7,449

 

 

$

10,760

 

 

$

—

 

 

$

18,209

 

 

$

1,244

 

Credit Quality

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, collateral support, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis is performed on a continuous basis. The Company uses the following definitions for risk ratings, which are commensurate with a loan considered "criticized":

Special Mention. Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard. Loans classified as substandard are inadequately protected by the current sound-worthiness and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing factors, conditions, and values, highly questionable and improbable.

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered pass rated loans. The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of December 31, 2025 and 2024 (in thousands):

 

 

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Loans

 

 

Total

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development loans

 

Pass

 

$

114,696

 

 

$

99,757

 

 

$

119,602

 

 

$

5,167

 

 

$

6,048

 

 

$

14,659

 

 

$

—

 

 

$

359,929

 

Special mention

 

 

—

 

 

 

—

 

 

 

398

 

 

 

—

 

 

 

—

 

 

 

348

 

 

 

—

 

 

 

746

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

—

 

 

 

7

 

 

 

—

 

 

 

12

 

Total

 

$

114,696

 

 

$

99,757

 

 

$

120,000

 

 

$

5,172

 

 

$

6,048

 

 

$

15,014

 

 

$

—

 

 

$

360,687

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

107

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

107

 

Agricultural real estate loans

 

Pass

 

$

42,758

 

 

$

22,040

 

 

$

12,609

 

 

$

107,950

 

 

$

61,357

 

 

$

87,939

 

 

$

—

 

 

$

334,653

 

Special mention

 

 

228

 

 

 

339

 

 

 

806

 

 

 

22,343

 

 

 

1,331

 

 

 

7,810

 

 

 

—

 

 

 

32,857

 

Substandard

 

 

598

 

 

 

194

 

 

 

—

 

 

 

224

 

 

 

392

 

 

 

4,490

 

 

 

—

 

 

 

5,898

 

Total

 

$

43,584

 

 

$

22,573

 

 

$

13,415

 

 

$

130,517

 

 

$

63,080

 

 

$

100,239

 

 

$

—

 

 

$

373,408

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

1-4 family residential property loans

 

Pass

 

$

54,180

 

 

$

31,041

 

 

$

28,668

 

 

$

62,974

 

 

$

64,512

 

 

$

144,475

 

 

$

92,629

 

 

$

478,479

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

185

 

 

 

93

 

 

 

760

 

 

 

—

 

 

 

1,038

 

Substandard

 

 

127

 

 

 

529

 

 

 

584

 

 

 

624

 

 

 

670

 

 

 

6,946

 

 

 

857

 

 

 

10,337

 

Total

 

$

54,307

 

 

$

31,570

 

 

$

29,252

 

 

$

63,783

 

 

$

65,275

 

 

$

152,181

 

 

$

93,486

 

 

$

489,854

 

Current period gross writeoffs

 

$

—

 

 

$

12

 

 

$

9

 

 

$

—

 

 

$

—

 

 

$

135

 

 

$

—

 

 

$

156

 

Commercial real estate loans

 

Pass

 

$

459,831

 

 

$

217,098

 

 

$

157,923

 

 

$

597,491

 

 

$

498,456

 

 

$

916,195

 

 

$

—

 

 

$

2,846,994

 

Special mention

 

 

—

 

 

 

371

 

 

 

1,150

 

 

 

12,931

 

 

 

248

 

 

 

4,760

 

 

 

—

 

 

 

19,460

 

Substandard

 

 

—

 

 

 

5,000

 

 

 

15,295

 

 

 

6,246

 

 

 

2,394

 

 

 

8,763

 

 

 

—

 

 

 

37,698

 

Total

 

$

459,831

 

 

$

222,469

 

 

$

174,368

 

 

$

616,668

 

 

$

501,098

 

 

$

929,718

 

 

$

—

 

 

$

2,904,152

 

Current period gross writeoffs

 

$

—

 

 

$

699

 

 

$

—

 

 

$

391

 

 

$

—

 

 

$

107

 

 

$

—

 

 

$

1,197

 

Agricultural loans

 

Pass

 

$

230,666

 

 

$

45,361

 

 

$

7,684

 

 

$

10,151

 

 

$

6,363

 

 

$

2,560

 

 

$

—

 

 

$

302,785

 

Special mention

 

 

1,209

 

 

 

76

 

 

 

11

 

 

 

—

 

 

 

23

 

 

 

—

 

 

 

—

 

 

 

1,319

 

Substandard

 

 

451

 

 

 

367

 

 

 

2,484

 

 

 

845

 

 

 

24

 

 

 

—

 

 

 

—

 

 

 

4,171

 

Total

 

$

232,326

 

 

$

45,804

 

 

$

10,179

 

 

$

10,996

 

 

$

6,410

 

 

$

2,560

 

 

$

—

 

 

$

308,275

 

Current period gross writeoffs

 

$

—

 

 

$

280

 

 

$

1,081

 

 

$

836

 

 

$

306

 

 

$

—

 

 

$

—

 

 

$

2,503

 

Commercial and industrial loans

 

Pass

 

$

431,942

 

 

$

214,908

 

 

$

82,977

 

 

$

210,658

 

 

$

159,029

 

 

$

357,077

 

 

$

—

 

 

$

1,456,591

 

Special mention

 

 

19,409

 

 

 

8,898

 

 

 

2,542

 

 

 

7,965

 

 

 

61

 

 

 

26,193

 

 

 

—

 

 

 

65,068

 

Substandard

 

 

—

 

 

 

1,397

 

 

 

2,180

 

 

 

1,008

 

 

 

219

 

 

 

16,617

 

 

 

—

 

 

 

21,421

 

Total

 

$

451,351

 

 

$

225,203

 

 

$

87,699

 

 

$

219,631

 

 

$

159,309

 

 

$

399,887

 

 

$

—

 

 

$

1,543,080

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

163

 

 

$

225

 

 

$

497

 

 

$

1,600

 

 

$

—

 

 

$

2,485

 

Consumer loans

 

Pass

 

$

5,619

 

 

$

2,555

 

 

$

2,812

 

 

$

12,861

 

 

$

5,511

 

 

$

2,119

 

 

$

—

 

 

$

31,477

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22

 

Substandard

 

 

—

 

 

 

30

 

 

 

9

 

 

 

171

 

 

 

132

 

 

 

77

 

 

 

—

 

 

 

419

 

Total

 

$

5,619

 

 

$

2,585

 

 

$

2,821

 

 

$

13,054

 

 

$

5,643

 

 

$

2,196

 

 

$

—

 

 

$

31,918

 

Current period gross writeoffs

 

$

5

 

 

$

23

 

 

$

27

 

 

$

99

 

 

$

43

 

 

$

1,228

 

 

$

—

 

 

$

1,425

 

Total loans

 

Pass

 

$

1,339,692

 

 

$

632,760

 

 

$

412,275

 

 

$

1,007,252

 

 

$

801,276

 

 

$

1,525,024

 

 

$

92,629

 

 

$

5,810,908

 

Special mention

 

 

20,846

 

 

 

9,684

 

 

 

4,907

 

 

 

43,446

 

 

 

1,756

 

 

 

39,871

 

 

 

—

 

 

 

120,510

 

Substandard

 

 

1,176

 

 

 

7,517

 

 

 

20,552

 

 

 

9,123

 

 

 

3,831

 

 

 

36,900

 

 

 

857

 

 

 

79,956

 

Total

 

$

1,361,714

 

 

$

649,961

 

 

$

437,734

 

 

$

1,059,821

 

 

$

806,863

 

 

$

1,601,795

 

 

$

93,486

 

 

$

6,011,374

 

Current period gross writeoffs

 

$

5

 

 

$

1,014

 

 

$

1,387

 

 

$

1,551

 

 

$

846

 

 

$

3,070

 

 

$

—

 

 

$

7,873

 

 

 

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Loans

 

 

Total

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development loans

 

Pass

 

$

82,696

 

 

$

101,715

 

 

$

14,390

 

 

$

15,817

 

 

$

4,735

 

 

$

16,342

 

 

$

—

 

 

$

235,695

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

382

 

 

 

—

 

 

 

382

 

Substandard

 

 

—

 

 

 

—

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

10

 

 

 

—

 

 

 

16

 

Total

 

$

82,696

 

 

$

101,715

 

 

$

14,396

 

 

$

15,817

 

 

$

4,735

 

 

$

16,734

 

 

$

—

 

 

$

236,093

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Agricultural real estate loans

 

Pass

 

$

25,824

 

 

$

17,292

 

 

$

159,433

 

 

$

55,083

 

 

$

48,700

 

 

$

73,592

 

 

$

—

 

 

$

379,924

 

Special mention

 

 

—

 

 

 

192

 

 

 

107

 

 

 

986

 

 

 

1,755

 

 

 

5,630

 

 

 

—

 

 

 

8,670

 

Substandard

 

 

—

 

 

 

141

 

 

 

966

 

 

 

—

 

 

 

—

 

 

 

1,059

 

 

 

—

 

 

 

2,166

 

Total

 

$

25,824

 

 

$

17,625

 

 

$

160,506

 

 

$

56,069

 

 

$

50,455

 

 

$

80,281

 

 

$

—

 

 

$

390,760

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

1-4 family residential property loans

 

Pass

 

$

46,350

 

 

$

36,454

 

 

$

74,580

 

 

$

75,325

 

 

$

61,936

 

 

$

110,348

 

 

$

79,714

 

 

$

484,707

 

Special mention

 

 

175

 

 

 

—

 

 

 

204

 

 

 

326

 

 

 

—

 

 

 

577

 

 

 

59

 

 

 

1,341

 

Substandard

 

 

174

 

 

 

672

 

 

 

916

 

 

 

737

 

 

 

557

 

 

 

6,875

 

 

 

618

 

 

 

10,549

 

Total

 

$

46,699

 

 

$

37,126

 

 

$

75,700

 

 

$

76,388

 

 

$

62,493

 

 

$

117,800

 

 

$

80,391

 

 

$

496,597

 

Current period gross writeoffs

 

$

—

 

 

$

46

 

 

$

13

 

 

$

33

 

 

$

—

 

 

$

103

 

 

$

—

 

 

$

195

 

Commercial real estate loans

 

Pass

 

$

216,297

 

 

$

213,704

 

 

$

680,665

 

 

$

535,056

 

 

$

289,855

 

 

$

774,516

 

 

$

—

 

 

$

2,710,093

 

Special mention

 

 

659

 

 

 

13,732

 

 

 

4,090

 

 

 

2,053

 

 

 

713

 

 

 

10,462

 

 

 

—

 

 

 

31,709

 

Substandard

 

 

—

 

 

 

49

 

 

 

3,844

 

 

 

467

 

 

 

—

 

 

 

4,067

 

 

 

—

 

 

 

8,427

 

Total

 

$

216,956

 

 

$

227,485

 

 

$

688,599

 

 

$

537,576

 

 

$

290,568

 

 

$

789,045

 

 

$

—

 

 

$

2,750,229

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

151

 

 

$

—

 

 

$

—

 

 

$

300

 

 

$

—

 

 

$

451

 

Agricultural loans

 

Pass

 

$

175,402

 

 

$

24,024

 

 

$

13,147

 

 

$

9,162

 

 

$

1,585

 

 

$

2,306

 

 

$

—

 

 

$

225,626

 

Special mention

 

 

617

 

 

 

2,208

 

 

 

976

 

 

 

100

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,901

 

Substandard

 

 

843

 

 

 

7,092

 

 

 

2,209

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10,144

 

Total

 

$

176,862

 

 

$

33,324

 

 

$

16,332

 

 

$

9,262

 

 

$

1,585

 

 

$

2,306

 

 

$

—

 

 

$

239,671

 

Current period gross writeoffs

 

$

—

 

 

$

2,213

 

 

$

100

 

 

$

52

 

 

$

—

 

 

$

45

 

 

$

—

 

 

$

2,410

 

Commercial and industrial loans

 

Pass

 

$

307,785

 

 

$

228,411

 

 

$

278,845

 

 

$

183,042

 

 

$

131,005

 

 

$

360,610

 

 

$

—

 

 

$

1,489,698

 

Special mention

 

 

54

 

 

 

1,149

 

 

 

1,277

 

 

 

748

 

 

 

1,020

 

 

 

7,583

 

 

 

—

 

 

 

11,831

 

Substandard

 

 

65

 

 

 

1,410

 

 

 

789

 

 

 

446

 

 

 

98

 

 

 

815

 

 

 

—

 

 

 

3,623

 

Total

 

$

307,904

 

 

$

230,970

 

 

$

280,911

 

 

$

184,236

 

 

$

132,123

 

 

$

369,008

 

 

$

—

 

 

$

1,505,152

 

Current period gross writeoffs

 

$

10

 

 

$

47

 

 

$

207

 

 

$

378

 

 

$

10

 

 

$

36

 

 

$

—

 

 

$

688

 

Consumer loans

 

Pass

 

$

5,098

 

 

$

5,138

 

 

$

24,430

 

 

$

11,810

 

 

$

4,494

 

 

$

2,385

 

 

$

—

 

 

$

53,355

 

Special mention

 

 

—

 

 

 

—

 

 

 

14

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14

 

Substandard

 

 

12

 

 

 

21

 

 

 

259

 

 

 

216

 

 

 

54

 

 

 

29

 

 

 

—

 

 

 

591

 

Total

 

$

5,110

 

 

$

5,159

 

 

$

24,703

 

 

$

12,026

 

 

$

4,548

 

 

$

2,414

 

 

$

—

 

 

$

53,960

 

Current period gross writeoffs

 

$

98

 

 

$

63

 

 

$

154

 

 

$

139

 

 

$

59

 

 

$

1,491

 

 

$

—

 

 

$

2,004

 

Total loans

 

Pass

 

$

859,452

 

 

$

626,738

 

 

$

1,245,490

 

 

$

885,295

 

 

$

542,310

 

 

$

1,340,099

 

 

$

79,714

 

 

$

5,579,098

 

Special mention

 

 

1,505

 

 

 

17,281

 

 

 

6,668

 

 

 

4,213

 

 

 

3,488

 

 

 

24,634

 

 

 

59

 

 

 

57,848

 

Substandard

 

 

1,094

 

 

 

9,385

 

 

 

8,989

 

 

 

1,866

 

 

 

709

 

 

 

12,855

 

 

 

618

 

 

 

35,516

 

Total

 

$

862,051

 

 

$

653,404

 

 

$

1,261,147

 

 

$

891,374

 

 

$

546,507

 

 

$

1,377,588

 

 

$

80,391

 

 

$

5,672,462

 

Current period gross writeoffs

 

$

108

 

 

$

2,369

 

 

$

625

 

 

$

602

 

 

$

69

 

 

$

1,975

 

 

$

—

 

 

$

5,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table presents the Company’s loan portfolio, on an amortized cost basis, aging analysis at December 31, 2025 and 2024 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

90 Days

 

 

 

 

 

 

 

 

 

 

 

Loans > 90

 

 

 

30-59 days

 

 

60-89 days

 

 

or More

 

 

Total

 

 

 

 

 

Total Loans

 

 

days and

 

 

 

Past Due

 

 

Past Due

 

 

Past Due

 

 

Past Due

 

 

Current

 

 

Receivable

 

 

Accruing

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

360,687

 

 

$

360,687

 

 

$

—

 

Agricultural real estate

 

 

—

 

 

 

—

 

 

 

841

 

 

 

841

 

 

 

372,567

 

 

 

373,408

 

 

 

—

 

1-4 family residential properties

 

 

4,725

 

 

 

1,630

 

 

 

1,687

 

 

 

8,042

 

 

 

481,812

 

 

 

489,854

 

 

 

—

 

Multifamily residential properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

339,482

 

 

 

339,482

 

 

 

—

 

Commercial real estate

 

 

712

 

 

 

228

 

 

 

5,671

 

 

 

6,611

 

 

 

2,558,059

 

 

 

2,564,670

 

 

 

—

 

Loans secured by real estate

 

 

5,437

 

 

 

1,858

 

 

 

8,199

 

 

 

15,494

 

 

 

4,112,607

 

 

 

4,128,101

 

 

 

—

 

Agricultural loans

 

 

—

 

 

 

19

 

 

 

—

 

 

 

19

 

 

 

308,256

 

 

 

308,275

 

 

 

—

 

Commercial and industrial loans

 

 

414

 

 

 

205

 

 

 

904

 

 

 

1,523

 

 

 

1,380,075

 

 

 

1,381,598

 

 

 

—

 

Consumer loans

 

 

329

 

 

 

44

 

 

 

111

 

 

 

484

 

 

 

31,434

 

 

 

31,918

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

161,482

 

 

 

161,482

 

 

 

—

 

Total loans

 

$

6,180

 

 

$

2,126

 

 

$

9,214

 

 

$

17,520

 

 

$

5,993,854

 

 

$

6,011,374

 

 

$

—

 

Percent of total loans

 

 

 

 

 

 

 

 

 

 

 

0.29

%

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

6

 

 

$

—

 

 

$

—

 

 

$

6

 

 

$

236,087

 

 

$

236,093

 

 

$

—

 

Agricultural real estate

 

 

—

 

 

 

—

 

 

 

533

 

 

 

533

 

 

 

390,227

 

 

 

390,760

 

 

 

—

 

1-4 family residential properties

 

 

2,209

 

 

 

931

 

 

 

2,089

 

 

 

5,229

 

 

 

491,368

 

 

 

496,597

 

 

 

—

 

Multifamily residential properties

 

 

—

 

 

 

—

 

 

 

472

 

 

 

472

 

 

 

332,172

 

 

 

332,644

 

 

 

—

 

Commercial real estate

 

 

595

 

 

 

553

 

 

 

344

 

 

 

1,492

 

 

 

2,416,093

 

 

 

2,417,585

 

 

 

—

 

Loans secured by real estate

 

 

2,810

 

 

 

1,484

 

 

 

3,438

 

 

 

7,732

 

 

 

3,865,947

 

 

 

3,873,679

 

 

 

—

 

Agricultural loans

 

 

550

 

 

 

—

 

 

 

1,289

 

 

 

1,839

 

 

 

237,832

 

 

 

239,671

 

 

 

—

 

Commercial and industrial loans

 

 

337

 

 

 

89

 

 

 

463

 

 

 

889

 

 

 

1,335,031

 

 

 

1,335,920

 

 

 

—

 

Consumer loans

 

 

442

 

 

 

48

 

 

 

111

 

 

 

601

 

 

 

53,359

 

 

 

53,960

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

169,232

 

 

 

169,232

 

 

 

—

 

Total loans

 

$

4,139

 

 

$

1,621

 

 

$

5,301

 

 

$

11,061

 

 

$

5,661,401

 

 

$

5,672,462

 

 

$

—

 

Percent of total loans

 

 

 

 

 

 

 

 

 

 

 

0.19

%

 

 

 

 

 

 

 

 

 

Nonaccrual Loans

Within all loan portfolio segments, loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. Impaired loans, excluding certain modified, are placed on nonaccrual status. Impaired loans include nonaccrual loans and loans modified in restructuring where concessions have been granted to borrowers experiencing financial difficulties. These concessions could include a reduction in the interest rate on the loan, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. It is the Company’s policy to have any restructured loans which are on nonaccrual status prior to being modified remain on nonaccrual status until, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. If the restructured loan is on accrual status prior to being modified, the loan is reviewed to determine if the modified loan should remain on accrual status.

The Company’s policy is to discontinue the accrual of interest income on all loans for which principal or interest is ninety days past due. The accrual of interest is discontinued earlier when, in the opinion of management, there is reasonable doubt as to the timely collection of interest or principal. Once interest accruals are discontinued, accrued but uncollected interest is charged against current year income. Subsequent receipts on non-accrual loans are recorded as a reduction of principal, and interest income is recorded only after principal recovery is reasonably assured. Interest on loans determined to be modified is recognized on an accrual basis in accordance with the restructured terms if the loan is in compliance with the modified terms. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collection of interest or principal. The Company requires a period of satisfactory performance of not less than six months before returning a nonaccrual loan to accrual status.

The amount of interest income recognized by the Company within the periods stated above was due to loans modified in restructuring that remain on accrual status.

The following table presents the Company’s recorded balance of nonaccrual loans at December 31, 2025 and December 31, 2024 (in thousands). This table excludes performing purchased credit deteriorated loans and performing loans modified.

 

 

 

2025

 

 

2024

 

 

 

Nonaccrual
with no
Allowance for

 

 

 

 

 

Nonaccrual
with no
Allowance for

 

 

 

 

 

 

Credit Loss

 

 

Nonaccrual

 

 

Credit Loss

 

 

Nonaccrual

 

Construction and land development

 

$

5

 

 

$

5

 

 

$

6

 

 

$

6

 

Agricultural real estate

 

 

1,181

 

 

 

1,181

 

 

 

2,213

 

 

 

2,213

 

1-4 family residential properties

 

 

4,940

 

 

 

5,763

 

 

 

4,196

 

 

 

4,937

 

Multifamily residential properties

 

 

371

 

 

 

371

 

 

 

—

 

 

 

—

 

Commercial real estate

 

 

10,109

 

 

 

10,381

 

 

 

4,901

 

 

 

7,716

 

Loans secured by real estate

 

 

16,606

 

 

 

17,701

 

 

 

11,316

 

 

 

14,872

 

Agricultural loans

 

 

19

 

 

 

19

 

 

 

1,371

 

 

 

11,521

 

Commercial and industrial loans

 

 

1,232

 

 

 

1,967

 

 

 

1,320

 

 

 

2,071

 

Consumer loans

 

 

182

 

 

 

182

 

 

 

311

 

 

 

311

 

All other loans

 

 

1,942

 

 

 

11,184

 

 

 

—

 

 

 

—

 

Total loans

 

$

19,981

 

 

$

31,053

 

 

$

14,318

 

 

$

28,775

 

 

The aggregate principal balances of nonaccrual, past due ninety days or more loans were $31.1 million and $28.8 million at December 31, 2025 and 2024, respectively. Interest income that would have been recorded under the original terms of such nonaccrual loans totaled $1.2 million, $1.4 million and $412,000 in 2025, 2024, and 2023, respectively.

 

Loan Modification to Borrowers Experiencing Financial Difficulty

The following table shows the amortized cost of loans at December 31, 2025 and 2024 that were both experiencing financial difficulty and modified segregated by portfolio segment and type of modification. The percentage of the amortized cost of loans that were modified to borrowers in financial distress as compared to outstanding loans is also presented below.

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

Payment

 

 

Term

 

 

Interest

 

 

Class of

 

 

 

Delay

 

 

Extension

 

 

Rate

 

 

Financing

 

 

 

Investment

 

 

Modifications

 

 

Reduction

 

 

Receivable

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

288

 

 

$

—

 

 

$

—

 

 

 

—

%

1-4 family residential properties

 

 

9

 

 

 

1,085

 

 

 

—

 

 

 

0.02

%

Commercial real estate

 

 

575

 

 

 

—

 

 

 

505

 

 

 

0.02

%

Loans secured by real estate

 

 

872

 

 

 

1,085

 

 

 

505

 

 

 

0.04

%

Commercial and industrial loans

 

 

708

 

 

 

73

 

 

 

—

 

 

 

0.01

%

Consumer loans

 

 

—

 

 

 

4

 

 

 

—

 

 

 

—

%

Total

 

$

1,580

 

 

$

1,162

 

 

$

505

 

 

 

0.05

%

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

309

 

 

$

—

 

 

$

—

 

 

 

0.01

%

1-4 family residential properties

 

 

45

 

 

 

758

 

 

 

—

 

 

 

0.01

%

Commercial real estate

 

 

847

 

 

 

188

 

 

 

472

 

 

 

0.03

%

Loans secured by real estate

 

 

1,201

 

 

 

946

 

 

 

472

 

 

 

0.05

%

Commercial and industrial loans

 

 

136

 

 

 

92

 

 

 

—

 

 

 

—

%

Consumer loans

 

 

2

 

 

 

8

 

 

 

—

 

 

 

—

%

Total

 

$

1,339

 

 

$

1,046

 

 

$

472

 

 

 

0.05

%

 

The Company closely monitors the performance of loans that have been modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table shows the performance of such loans that have been modified in the last twelve months ended December 31, 2025.

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

90 Days or
More
Past Due

 

 

Total Past
Due

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

$

—

 

 

$

505

 

 

$

—

 

 

$

505

 

Loans secured by real estate

 

 

—

 

 

 

505

 

 

 

—

 

 

 

505

 

Commercial and industrial loans

 

 

—

 

 

 

723

 

 

 

—

 

 

 

723

 

Total loans

 

$

—

 

 

$

1,228

 

 

$

—

 

 

$

1,228

 

The following table shows the financial effect of loan modifications during the current quarter to borrowers experiencing financial difficulty for the three months ended December 31, 2025.

 

 

 

Weighted Average

 

 

Weighted Average

 

 

 

Interest Rate

 

 

Term Extension

 

 

 

Reduction

 

 

(in months)

 

Agricultural real estate

 

 

—

%

 

 

—

 

1-4 family residential properties

 

 

—

%

 

 

—

 

Commercial real estate

 

 

—

%

 

 

—

 

Commercial and industrial loans

 

 

—

%

 

 

—

 

Consumer loans

 

 

—

%

 

 

—

 

Other Loans

 

 

—

%

 

 

—

 

A loan is considered to be in payment default once it is 90 days past due under the modified terms. There were no loans modified during the prior twelve months that experienced defaults for twelve months ended December 31, 2025.

At December 31, 2025 and 2024, the balance of real estate owned include $2.9 million and $2.2 million respectively of foreclosed real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2025 and 2024, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceeds were in process was $1.3 million and $2.8 million.

Purchased Credit Deteriorated (PCD) Loans

During 2023, the Company acquired loans from Blackhawk Bank, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows (in thousands):

 

 

 

Blackhawk Acquisition

 

Purchase price of purchase credit deteriorated loans at acquisition

 

$

115,250

 

Allowance for credit losses at acquisition

 

 

(3,791

)

Non-credit discount/(premium) at acquisition

 

 

(5,476

)

Fair value of purchased credit deteriorated loans at acquisition

 

$

105,983

 
v3.25.4
Premises and Equipment, Net
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Premises and Equipment, Net

Note 6 -- Premises and Equipment, Net

Premises and equipment at December 31, 2025 and 2024 consisted of (in thousands):

 

 

 

2025

 

 

2024

 

Land

 

$

28,523

 

 

$

35,355

 

Buildings and improvements

 

 

67,201

 

 

 

71,814

 

Furniture and equipment

 

 

21,678

 

 

 

20,154

 

Leasehold improvements

 

 

5,377

 

 

 

5,054

 

Capitalized software

 

 

7,243

 

 

 

3,233

 

Construction in progress

 

 

652

 

 

 

1,553

 

Subtotal

 

 

130,674

 

 

 

137,163

 

Accumulated depreciation and amortization

 

 

39,892

 

 

 

36,929

 

Total

 

$

90,782

 

 

$

100,234

 

Depreciation and amortization expense was $5.2 million, $4.9 million, and $5.0 million for the years ended December 31, 2025, 2024, and 2023, respectively. This expense is included in net occupancy and equipment expense on the Consolidated Statements of Income.

v3.25.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 7 -- Goodwill and Intangible Assets

The Company has goodwill from business combinations, intangible assets from branch acquisitions, identifiable intangible assets assigned to core deposit relationships and customer lists of business lines acquired. The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of December 31, 2025 and 2024 (in thousands):

 

 

 

2025

 

 

2024

 

 

 

Gross
Carrying

 

 

Accumulated

 

 

Gross
Carrying

 

 

Accumulated

 

 

 

Value

 

 

Amortization

 

 

Value

 

 

Amortization

 

Goodwill

 

$

207,151

 

 

$

3,760

 

 

$

207,151

 

 

$

3,760

 

Core deposit intangibles

 

 

79,945

 

 

 

53,285

 

 

 

79,945

 

 

 

44,736

 

Customer list intangibles

 

 

34,420

 

 

 

16,021

 

 

 

30,857

 

 

 

13,180

 

 

$

324,531

 

 

$

76,081

 

 

$

320,968

 

 

$

64,691

 

Core deposit intangibles are being amortized over a period of 10 years and other intangibles, primarily customer lists, are being amortized over periods ranging from 3 to 12 years.

In December 2025, a customer list intangible asset of $764,000 was recorded for the acquisition of RFMS customer list in connection with its farm management business. First Mid Wealth Management was assigned all of this intangible asset. The purchase consideration given to RFMS matches the amount of intangible assets recorded.

During the quarter ended September 30, 2025, a customer list intangible asset of $2.8 million was recorded for the acquisition of a portion of AAIG's customer list in connection with its insurance business. First Mid Insurance was assigned all of this intangible asset. The purchase consideration given to AAIG matches the amount of intangible assets recorded.

During the quarter ended September 30, 2024, goodwill of $6.9 million was recorded for the acquisition of the stock of Mid Rivers Insurance Group, Inc., in connection with its insurance business. First Mid Insurance was assigned all this goodwill.

The following provides a reconciliation of the purchase price paid for Mid Rivers Insurance Group, Inc. and the amount of goodwill recorded (in thousands):

 

Unallocated purchase price

 

 

 

 

$

10,059

 

Less purchase accounting adjustments:

 

 

 

 

 

 

Insurance Company intangible

 

$

4,305

 

 

 

 

Other liabilities

 

 

(1,176

)

 

 

 

 

 

 

 

 

3,129

 

Resulting goodwill from acquisition

 

 

 

 

$

6,930

 

Goodwill of $50.1 million was recorded for the acquisition and merger of Blackhawk Bancorp, Inc. during the third quarter of 2023. All this goodwill was assigned to the banking unit of the Company. The goodwill will not be deductible for tax purposes.

The following table provides a reconciliation of the purchase price paid for the acquisition of Blackhawk and the amount of goodwill recorded (in thousands):

 

Unallocated purchase price

 

 

 

 

$

26,955

 

Less purchase accounting adjustments:

 

 

 

 

 

 

Fair value of securities

 

$

(25,521

)

 

 

 

Fair value of loans, net

 

 

(43,477

)

 

 

 

Fair value of premises and equipment

 

 

(3,856

)

 

 

 

Fair value of time deposits

 

 

2,311

 

 

 

 

Fair value of subordinated and jr subordinated debentures

 

 

3,707

 

 

 

 

Increase in core deposit intangible

 

 

33,731

 

 

 

 

Increase in mortgage servicing rights

 

 

3,344

 

 

 

 

Other assets

 

 

6,619

 

 

 

 

 

 

 

 

 

(23,142

)

Resulting goodwill from acquisition

 

 

 

 

$

50,097

 

During the quarter ended June 30, 2023, goodwill of $6.0 million was recorded for the acquisition of the stock of Purdum, Gray, Ingledue, Beck, Inc., in connection with its insurance business. First Mid Insurance was assigned all this goodwill.

 

The following provides a reconciliation of the purchase price paid for Purdum, Gray, Ingledue, Beck, Inc. and the amount of goodwill recorded (in thousands):

 

Unallocated purchase price

 

 

 

 

$

10,145

 

Less purchase accounting adjustments:

 

 

 

 

 

 

Insurance Company intangible

 

$

5,770

 

 

 

 

Other liabilities

 

 

(1,576

)

 

 

 

 

 

 

 

 

4,194

 

Resulting goodwill from acquisition

 

 

 

 

$

5,951

 

The unpaid principal balance of mortgage loans serviced for others was $509.7 million and $572.6 million at December 31, 2025 and 2024, respectively. Mortgage servicing rights are accounted for under the amortization method. The following table summarizes the activity pertaining to the mortgage servicing rights included in intangible assets as of December 31, 2025 and 2024 (in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Beginning balance

 

$

5,629

 

 

$

6,859

 

Adjustment to valuation reserve

 

 

1

 

 

 

7

 

Mortgage servicing rights amortized

 

 

(1,053

)

 

 

(1,226

)

Interest only strip

 

 

(11

)

 

 

(11

)

Ending balance

 

$

4,566

 

 

$

5,629

 

Fair value of portfolio

 

$

5,596

 

 

$

6,716

 

Total amortization expense for the years ended December 31, 2025, 2024, and 2023 was as follows (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Core deposit intangibles

 

$

8,549

 

 

$

9,770

 

 

$

6,534

 

Customer list intangibles

 

 

2,841

 

 

 

2,560

 

 

 

2,069

 

Mortgage servicing rights

 

 

1,053

 

 

 

1,226

 

 

 

524

 

 

 

$

12,443

 

 

$

13,556

 

 

$

9,127

 

Estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):

 

For year ended 12/31/26

 

$

10,925

 

For year ended 12/31/27

 

 

9,661

 

For year ended 12/31/28

 

 

8,447

 

For year ended 12/31/29

 

 

7,095

 

For year ended 12/31/30

 

 

5,417

 

The weighted average amortization period for core deposit, customer lists and total intangibles was 2.91, 4.22 and 3.44 years respectively, at December 31, 2025.

v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Deposits

Note 8 – Deposits

As of December 31, 2025 and 2024, deposits consisted of the following (in thousands):

 

 

 

2025

 

 

2024

 

Demand deposits:

 

 

 

 

 

 

Non-interest-bearing

 

$

1,392,534

 

 

$

1,329,155

 

Interest-bearing

 

 

2,095,370

 

 

 

1,907,734

 

Savings

 

 

639,412

 

 

 

636,427

 

Money market

 

 

1,138,464

 

 

 

1,196,537

 

Time deposits

 

 

1,129,493

 

 

 

987,243

 

Total deposits

 

$

6,395,273

 

 

$

6,057,096

 

As of December 31, 2025, 2024, and 2023, the aggregate amount of time deposits in denominations of more than $250,000 was as follows (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Time deposit balances in denominations of more than $250,000

 

$

419,929

 

 

$

341,432

 

 

$

282,028

 

 

The following table shows the amount of maturities for all time deposits as of December 31, 2025 (in thousands):

 

Less than 1 year

 

$

988,464

 

1 year to 3 years

 

 

123,759

 

3 years to 5 years

 

 

17,270

 

Over 5 years

 

 

—

 

Total

 

$

1,129,493

 

In 2025, the Company maintained account relationships with various public entities throughout its market areas. These public entities had total balances of approximately $193.6 million and $261.2 million in various checking accounts and time deposits as of December 31, 2025 and 2024, respectively. These balances are subject to change depending upon the cash flow needs of the public entity.
v3.25.4
Repurchase Agreements and Other Borrowings
 12 Months Ended
Dec. 31, 2025
Repurchase Agreements And Other Borrowings [Abstract]  
Repurchase Agreements and Other Borrowings

Note 9 -- Repurchase Agreements and Other Borrowings

As of December 31, 2025 and 2024 borrowings consisted of the following (in thousands):

 

 

 

2025

 

 

2024

 

Securities sold under agreements to repurchase

 

$

196,716

 

 

$

204,122

 

Federal Home Loan Bank-overnight

 

 

—

 

 

 

90,000

 

Federal Home Loan Bank (FHLB) fixed-term advances

 

 

270,000

 

 

 

152,520

 

Subordinated debt

 

 

60,008

 

 

 

87,472

 

Junior subordinated debentures

 

 

24,454

 

 

 

24,280

 

Total

 

$

551,178

 

 

$

558,394

 

Aggregate annual maturities of FHLB advances and debt (excluding unamortized discounts and premiums) at December 31, 2025 are (in thousands):

 

 

 

 

 

 

Subordinated

 

 

Jr. Subordinated

 

 

 

 

 

 

FHLB

 

 

Debt

 

 

Debentures

 

 

Total

 

2026

 

$

25,000

 

 

$

—

 

 

$

—

 

 

$

25,000

 

2027

 

 

50,000

 

 

 

—

 

 

 

—

 

 

 

50,000

 

2028

 

 

25,000

 

 

 

—

 

 

 

—

 

 

 

25,000

 

2029

 

 

45,000

 

 

 

—

 

 

 

—

 

 

 

45,000

 

2030

 

 

100,000

 

 

 

56,000

 

 

 

—

 

 

 

156,000

 

Thereafter

 

 

25,000

 

 

 

5,000

 

 

 

25,775

 

 

 

55,775

 

 

 

270,000

 

 

 

61,000

 

 

 

25,775

 

 

 

356,775

 

Unamortized discount

 

 

—

 

 

 

(992

)

 

 

(1,321

)

 

 

(2,313

)

 

$

270,000

 

 

$

60,008

 

 

$

24,454

 

 

$

354,462

 

FHLB advances represent borrowings by First Mid Bank to fund loan demand. At December 31, 2025 the advances totaling $270.0 million were as follows:

 

Advance

 

Term (in years)

 

Interest Rate

 

Maturity Date

$25,000,000

 

3.0

 

4.40%

 

June 15, 2026

25,000,000

 

3.0

 

4.37%

 

May 10, 2027

25,000,000

 

3.0

 

4.32%

 

May 17, 2027

25,000,000

 

5.0

 

3.95%

 

June 29, 2028

25,000,000

 

5.0

 

3.93%

 

June 27, 2029

5,000,000

 

10.0

 

1.15%

 

October 3, 2029

5,000,000

 

10.0

 

1.12%

 

October 3, 2029

10,000,000

 

10.0

 

1.39%

 

December 31, 2029

25,000,000

 

5.0

 

3.46%

 

February 7, 2030

25,000,000

 

5.0

 

3.16%

 

August 14, 2030

50,000,000

 

5.0

 

2.92%

 

November 25, 2030

25,000,000

 

10.0

 

2.71%

 

March 5, 2035

 

Securities sold under agreements to repurchase have overnight maturities and a weighted average rate of 1.88%.

The right of setoff for a repurchase agreement resembles a secured borrowing, whereby the collateral pledged by the Company would be used to settle the fair value of the repurchase agreement should the Company be in default (e.g., declare bankruptcy), the Company could cancel the repurchase agreement (i.e., cease payment of principal and interest), and attempt collection on the amount of collateral value in excess of the repurchase agreement fair value. The collateral is held by a third-party financial institution in the counterparty's custodial account. The counterparty has the right to sell or repledge the investment securities. For government entity repurchase agreements, the collateral is held by the Company in a segregated custodial account under a tri- party agreement. The Company is required by the counterparty to maintain adequate collateral levels. In the event the collateral fair value falls below stipulated levels, the Company will pledge additional securities. The Company closely monitors collateral levels to ensure adequate levels are maintained, while mitigating the potential of over-collateralization in the event of counterparty default.

Repurchase agreements by class of collateral pledged are as follows (in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

US Treasury securities and obligations of U.S. government corporations and agencies

 

$

55,863

 

 

$

70,664

 

Mortgage-backed securities

 

 

140,853

 

 

 

133,458

 

Total

 

$

196,716

 

 

$

204,122

 

 

 

 

 

 

 

 

(1) Mortgage-backed securities include mortgage-backed securities (MBS) and collateralized mortgage obligation (CMO) issues from the following government sponsored enterprises: FHLMC, FNMA, GNMA and FHLB.

 

 

 

At December 31, 2025, there was no outstanding loan balance on the revolving credit agreement with The Northern Trust Company. This loan was renewed on April 4, 2025 for one year as a revolving credit agreement with a maximum available balance of $15 million. The interest rate is floating at 2.25% over the federal funds rate. The loan is unsecured. Management believes that the Company and its subsidiary bank was in compliance with all the existing covenants at December 31, 2025 and 2024.

On October 6, 2020, the Company issued and sold $96.0 million in aggregate principal amount of its 3.95% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes were issued pursuant to the Indenture, dated as of October 6, 2020 (the “Base Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of October 6, 2020 (the “Supplemental Indenture”), between the Company and the Trustee. The Base Indenture, as amended and supplemented by the Supplemental Indenture, governs the terms of the Notes and provides that the Notes are unsecured, subordinated debt obligations of the Company and will mature on October 15, 2030. From and including the date of issuance to, but excluding October 15, 2025, the Notes bore interest at an initial rate of 3.95% per annum. From and including October 15, 2025 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month Term SOFR plus a spread of 383 basis points, or such other rate as determined pursuant to the Supplemental Indenture, provided that in no event shall the applicable floating interest rate be less than zero per annum (7.5% and 3.95% at December 31, 2025 and 2024, respectively). On June 7, 2024, August 27, 2024, and September 6, 2024, the Company repurchased in open market transactions and subsequently cancelled $4.0 million, $15.0 million, and $1.0 million respectively, of the outstanding Notes. On October 15, 2025, the Company paid down $20 million of the outstanding Notes. As a result, as of December 31, 2025, $56 million in aggregate principal amount of the Notes remain issued and outstanding.

The Company may, beginning with the interest payment date of October 15, 2025, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to October 15, 2025, at the Company’s option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date.

On August 15, 2023, the Company assumed, as part of the Blackhawk Bancorp, Inc. acquisition, $7.5 million principal amount of 3.5% Fixed-to-Floating Rate Subordinated Notes due 2031 (“Blackhawk Subordinated Debt I”). Blackhawk Subordinated Debt I was issued pursuant to Indenture between the Company and UMB Bank, as trustee. This Indenture governs the terms of the Blackhawk Subordinated Debt I and provides that such notes are unsecured, subordinated debt obligations of the Company and will mature on May 14, 2031. From and including the date of issuance to, but excluding May 14, 2026, the notes will bear interest at an initial rate of 3.5% per annum. From and including May 14, 2026 to, but excluding the maturity date, the notes will bear interest at a floating rate equal to three-month Term SOFR plus a spread of 285 basis points. On February 5, 2025, the Company repurchased in open market transactions and subsequently cancelled $3.0 million of the outstanding Blackhawk Subordinated Debt I Notes. As a result, as of December 31, 2025, $4.5 million in aggregate principal amount of Blackhawk Subordinated Debt I Notes remain issued and outstanding.

On August 15, 2023, the Company assumed, as part of the Blackhawk Bancorp, Inc. acquisition, $7.5 million principal amount of 3.875% Fixed-to-Floating Rate Subordinated Notes due 2036 (“Blackhawk Subordinated Debt II”). Blackhawk Subordinated Debt II was issued pursuant to Indenture between the Company and UMB Bank, as trustee. This Indenture governs the terms of the Blackhawk Subordinated Debt II and provides that such notes are unsecured, subordinated debt obligations of the Company and will mature on May 14, 2036. From and including the date of issuance to, but excluding May 14, 2031, the notes will bear interest at an initial rate of 3.875% per annum. From and including May 14, 2031 to, but excluding the maturity date, the notes will bear interest at a floating rate equal to three-month Term SOFR plus a spread of 255 basis points. On February 5, 2025, the Company repurchased in open market transactions and subsequently cancelled $7.0 million of the outstanding Blackhawk Subordinated Debt II Notes. As a result, as of December 31, 2025, $500,000 in aggregate principal amount of Blackhawk Subordinated Debt II Notes remain issued and outstanding.

On April 26, 2006, the Company completed the issuance and sale of $10 million of fixed/floating rate trust preferred securities through First Mid-Illinois Statutory Trust II (“Trust II”), a statutory business trust and wholly owned unconsolidated subsidiary of the Company, as part of a pooled offering. The Company established Trust II for

the purpose of issuing the trust preferred securities. The $10.0 million in proceeds from the trust preferred issuance and an additional $310,000 for the Company’s investment in common equity of Trust II, a total of $10.3 million, was invested in junior subordinated debentures of the Company. The underlying junior subordinated debentures issued by the Company to Trust II mature in 2036, bore interest at a fixed rate of 6.98% paid quarterly until June 15, 2011 and then converted to floating rate (SOFR plus 160 basis points) after June 15, 2011 (5.59% and 6.81% at December 31, 2025 and 2024, respectively). The net proceeds to the Company were used for general corporate purposes, including the Company’s acquisition of Mansfield Bancorp, Inc. in 2006.

On September 8, 2016, the Company assumed the trust preferred securities of Clover Leaf Statutory Trust I (“CLST I”), a statutory business trust that was a wholly owned unconsolidated subsidiary of First Clover Financial. The $4.0 million of trust preferred securities and an additional $124,000 additional investment in common equity of CLST I, is invested in junior subordinated debentures issued to CLST I. The subordinated debentures matured in 2025, bear interest at three-month SOFR plus 185 basis points (5.84% and 7.06% at December 31, 2025 and 2024, respectively) and resets quarterly.

On May 1, 2018, the Company assumed the trust preferred securities of FBTC Statutory Trust I (“FBTCST I”), a statutory business trust that was a wholly owned unconsolidated subsidiary of First BancTrust Corporation. The $6.0 million of trust preferred securities and an additional $186,000 additional investment in common equity of FBTCST I is invested in junior subordinated debentures issued to FBTCST I. The subordinated debentures mature in 2035, bear interest at three-month SOFR plus 170 basis points (5.69% and 6.91% at December 31, 2025 and 2024, respectively) and resets quarterly.

On August 15, 2023, the Company assumed the trust preferred securities of Blackhawk Statutory Trust I (“BHST I”), a statutory business trust that was a wholly owned unconsolidated subsidiary of Blackhawk Bancorp, Inc. The $1.0 million of trust preferred securities and an additional $31,000 investment in common equity of BHST I is invested in junior subordinated debentures issued to BHST I. The subordinated debentures mature in 2032, bear interest at three-month SOFR plus 325 basis points (7.20% and 8.17% at December 31, 2025 and 2024, respectively) and resets quarterly.

On August 15, 2023, the Company assumed the trust preferred securities of Blackhawk Statutory Trust II (“BHST II”), a statutory business trust that was a wholly owned unconsolidated subsidiary of Blackhawk Bancorp, Inc. The $4.0 million of trust preferred securities and an additional $124,000 investment in common equity of BHST II is invested in junior subordinated debentures issued to BHST II. The subordinated debentures mature in 2035, bear interest at three-month SOFR plus 205 basis points (6.02% and 7.25% at December 31, 2025 and 2024, respectively) and resets quarterly.

The trust preferred securities issued by Trust II, CLST I, FBTCSTI, BHST I, and BHST II are included as Tier 1 capital of the Company for regulatory capital purposes. On March 1, 2005, the Federal Reserve Board adopted a final rule that allows the continued limited inclusion of trust preferred securities in the calculation of Tier 1 capital for regulatory purposes. The final rule provided a five-year transition period, ending September 30, 2010, for application of the revised quantitative limits. On March 17, 2009, the Federal Reserve Board adopted an additional final rule that delayed the effective date of the new limits on inclusion of trust preferred securities in the calculation of Tier 1 capital until March 31, 2012. The application of the revised quantitative limits did not and is not expected to have a significant impact on its calculation of Tier 1 capital for regulatory purposes or its classification as well-capitalized. The Dodd-Frank Act, signed into law July 21, 2010, removes trust preferred securities as a permitted component of a holding company’s Tier 1 capital after a three-year phase-in period beginning January 1, 2013 for larger holding companies. For holding companies with less than $15 billion in consolidated assets, existing issues of trust preferred securities are grandfathered and not subject to this new restriction. Similarly, the final rule implementing the Basel III reforms allows holding companies with less than $15 billion in consolidated assets as of December 31, 2009 to continue to count toward Tier 1 capital any trust preferred securities issued before May 19, 2010. New issuances of trust preferred securities, however would not count as Tier 1 regulatory capital.

In addition to requirements of the Dodd-Frank Act discussed above, the act also required the federal banking agencies to adopt rules that prohibit banks and their affiliates from engaging in proprietary trading and investing in and sponsoring certain unregistered investment companies (defined as hedge funds and private equity funds). This rule is generally referred to as the “Volcker Rule.” On December 10, 2013, the federal banking agencies issued final rules to implement the prohibitions required by the Volcker Rule. Following the publication of the final rule, and in reaction to concerns in the banking industry regarding the adverse impact the final rule’s treatment of certain collateralized debt instruments has on community banks, the federal banking agencies approved an interim final rule to permit banking entities to retain interests in certain collateralized debt obligations backed primarily by trust preferred securities. Under the interim final rule, the agencies permit the retention of an interest in or sponsorship of covered funds by banking entities under $15 billion in assets if (1) the collateralized debt obligation was established and issued prior to May 19, 2010, (2) the banking entity reasonably believes that the offering proceeds received by the collateralized debt obligation were invested primarily in qualifying trust preferred collateral, and (3) the banking entity’s interests in the collateralized debt obligation was acquired on or prior to December 10, 2013. Although the Volcker Rule impacts many large banking entities, the Company does not currently anticipate that the Volcker Rule will have a material effect on the operations of the Company or First Mid Bank.
v3.25.4
Regulatory Capital
 12 Months Ended
Dec. 31, 2025
Regulatory Capital [Abstract]  
Regulatory Capital

Note 10 -- Regulatory Capital

The Company is subject to various regulatory capital requirements administered by the federal banking agencies. Bank holding companies follow minimum regulatory requirements established by the Board of Governors of the Federal Reserve System (“Federal Reserve System”), and First Mid Bank follow similar minimum regulatory requirements established for national banks by the Office of the Comptroller of the Currency (“OCC”). Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary action by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements.

Quantitative measures established by each regulatory capital standards to ensure capital adequacy require the Company and its subsidiary bank to maintain a minimum capital amounts and ratios (set forth in the table below). Management believes that, as of December 31, 2025 and 2024, the Company and First Mid Bank met all capital adequacy requirements.

As of December 31, 2025 and 2024, the most recent notification from the primary regulators categorized First Mid Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, minimum total risk-based capital, Tier 1 risk-based capital, Common Equity Tier 1 risk-based capital, and Tier 1 leverage ratios must be maintained as set forth in the table below. At December 31, 2025, there were no conditions or events since the most recent notification that management believes have changed this categorization.

 

 

 

Actual

 

 

Required Minimum For Capital Adequacy Purposes with Capital Buffer

 

To Be Well-Capitalized Under Prompt Corrective Action Provisions

(Dollars in thousands)

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

Amount

 

 

Ratio

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

989,634

 

 

 

15.67

%

 

$

663,053

 

 

>10.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

910,047

 

 

 

14.47

%

 

 

660,282

 

 

>10.50%

 

$

628,840

 

 

> 10.00%

Tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

855,405

 

 

 

13.55

%

 

 

536,757

 

 

> 8.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

835,826

 

 

 

13.29

%

 

 

534,514

 

 

> 8.50%

 

 

503,072

 

 

> 8.00%

Common equity tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

830,951

 

 

 

13.16

%

 

 

442,035

 

 

> 7.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

835,826

 

 

 

13.29

%

 

 

440,188

 

 

> 7.00%

 

 

408,746

 

 

> 6.50%

Tier 1 capital (to average assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

855,405

 

 

 

11.07

%

 

 

308,994

 

 

> 4.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

835,826

 

 

 

10.88

%

 

 

307,361

 

 

> 4.00%

 

 

384,201

 

 

> 5.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

935,189

 

 

 

15.37

%

 

$

639,015

 

 

>10.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

880,621

 

 

 

14.51

%

 

 

637,089

 

 

>10.50%

 

$

606,752

 

 

> 10.00%

Tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

780,096

 

 

 

12.82

%

 

 

517,298

 

 

> 8.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

813,000

 

 

 

13.40

%

 

 

515,739

 

 

> 8.50%

 

 

485,401

 

 

> 8.00%

Common equity tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

755,816

 

 

 

12.42

%

 

 

426,010

 

 

> 7.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

813,000

 

 

 

13.40

%

 

 

424,726

 

 

> 7.00%

 

 

394,389

 

 

> 6.50%

Tier 1 capital (to average assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

780,096

 

 

 

10.33

%

 

 

301,976

 

 

> 4.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

813,000

 

 

 

10.82

%

 

 

300,596

 

 

> 4.00%

 

 

375,745

 

 

> 5.00%

The Company's risk-weighted assets, capital and capital ratios for December 31, 2025 and 2024 were computed in accordance with Basel III capital rules. See heading "Basel III" in the Overview section of this report for a more detailed description of Basel III rules. As of December 31, 2025 and 2024, the Company and First Mid Bank had capital ratios above the required minimums for regulatory capital adequacy, and First Mid Bank had capital ratios that qualified it for treatment as well-capitalized under the regulatory framework for prompt corrective action with respect to banks.
v3.25.4
Disclosures of Fair Values of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Disclosures of Fair Values of Financial Instruments

Note 11 -- Disclosures of Fair Values of Financial Instruments

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value:

Level 1 Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities.

Level 2 Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets or liabilities which use observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in active markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Following is a description of the inputs and valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy.

Available-for-Sale Securities. The fair value of available-for-sale securities is determined by various valuation methodologies. Where quoted market prices are available in an active market, securities are classified within Level 1. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market- based or independently sources market parameters, including but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy.

Equity Securities. The fair value of current equity securities is determined by obtaining quoted market prices in an active market and are classified within Level 1. In cases where quoted market prices are not available, fair values are estimated by using quoted prices of securities with similar characteristics and are classified in Level 2 of the valuation hierarchy.

Derivatives. The fair value of derivatives is based on models using observable market data as of the measurement date and are therefore classified in Level 2 of the valuation hierarchy.

Loans held for sale. The fair values are estimated by using quoted prices of loans with similar characteristics and are therefore classified in Level 2 of the valuation hierarchy.

The following table presents the Company’s assets that are measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of December 31, 2025 and 2024 (in thousands):

 

 

 

 

 

 

Fair Value Measurements Using:

 

 

 

 

 

 

Quoted Prices in

 

 

Significant

 

 

Significant

 

 

 

 

 

 

Active Markets

 

 

Other

 

 

Unobservable

 

 

 

 

 

 

for Identical

 

 

Observable

 

 

Inputs

 

 

 

Fair Value

 

 

Assets (Level 1)

 

 

Inputs (Level 2)

 

 

(Level 3)

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

144,080

 

 

$

—

 

 

$

144,080

 

 

$

—

 

Obligations of states and political subdivisions

 

 

280,633

 

 

 

—

 

 

 

280,633

 

 

 

—

 

Mortgage-backed securities

 

 

624,666

 

 

 

—

 

 

 

624,666

 

 

 

—

 

Corporate bonded debt

 

 

27,504

 

 

 

—

 

 

 

24,745

 

 

 

2,759

 

Total available-for-sale securities

 

 

1,076,883

 

 

 

—

 

 

 

1,074,124

 

 

 

2,759

 

Equity securities

 

 

4,588

 

 

 

4,588

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

5,203

 

 

 

—

 

 

 

5,203

 

 

 

—

 

Derivative assets: interest rate swaps

 

 

1,728

 

 

 

—

 

 

 

1,728

 

 

 

—

 

Total assets

 

$

1,088,402

 

 

$

4,588

 

 

$

1,081,055

 

 

$

2,759

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities: interest rate swaps

 

$

1,247

 

 

$

—

 

 

$

1,247

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

191,358

 

 

$

—

 

 

$

191,358

 

 

$

—

 

Obligations of states and political subdivisions

 

 

267,740

 

 

 

—

 

 

 

267,740

 

 

 

—

 

Mortgage-backed securities

 

 

539,742

 

 

 

—

 

 

 

539,742

 

 

 

—

 

Corporate bonded debt

 

 

64,452

 

 

 

—

 

 

 

58,693

 

 

 

5,759

 

Total available-for-sale securities

 

 

1,063,292

 

 

 

—

 

 

 

1,057,533

 

 

 

5,759

 

Equity securities

 

 

4,439

 

 

 

4,439

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

6,614

 

 

 

—

 

 

 

6,614

 

 

 

—

 

Derivative assets: interest rate swaps

 

 

2,949

 

 

 

—

 

 

 

2,949

 

 

 

—

 

Total assets

 

$

1,077,294

 

 

$

4,439

 

 

$

1,067,096

 

 

$

5,759

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities: interest rate swaps

 

$

2,006

 

 

$

—

 

 

$

2,006

 

 

$

—

 

 

The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2025 and 2024 is summarized as follows (in thousands):

 

 

 

Total

 

December 31, 2025

 

 

 

Beginning balance

 

$

5,759

 

Transfers out of Level 3

 

 

(7,029

)

Purchases

 

 

7,029

 

Maturities

 

 

(3,000

)

Ending balance

 

$

2,759

 

 

 

 

December 31, 2024

 

 

 

Beginning balance

 

$

6,163

 

Transfers into Level 3

 

 

3

 

Maturities

 

 

(407

)

Ending balance

 

$

5,759

 

Following is a description of the valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy.

Collateral Dependent Loans

Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. Allowable methods for determining the amount of impairment and estimating fair value include using the fair value of the collateral for collateral dependent loans.

If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Impaired loans that are collateral dependent are classified within Level 3 of the fair value hierarchy when impairment is determined using the fair value method.

Management establishes a specific allowance for loans that have an estimated fair value that is below the carrying value. The total carrying amount of loans for which a change in specific allowance has occurred as of December 31, 2025 was $11.0 million and a fair value of $10.4 million resulting in specific loss exposures of $605,000. As of December 31, 2024, the total carrying amount of loans for which a change specific allowance has occurred was $17.9 million. These loans had a fair value of $16.6 million which resulted in specific loss exposures of $1.3 million.

When there is little prospect of collecting principal or interest, loans, or portions of loans, may be charged-off to the allowance for credit losses. Losses are recognized in the period an obligation becomes uncollectible. The recognition of a loss does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan even though partial recovery may be affected in the future.

Foreclosed Assets Held For Sale

Other real estate owned acquired through loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for credit losses. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined that fair value declines subsequent to foreclosure, a valuation allowance is recorded through non-interest expense. Operating costs associated with the assets after acquisition are also recorded as non-interest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other non-interest expense. The total carrying amount of other real estate owned as of December 31, 2025 was $2.9 million. Other real estate owned included in the total carrying amount and measured at fair value on a nonrecurring basis during the year amounted to $605,000. The total carrying amount of other real estate owned as of December 31, 2024 was $2.2 million. Other real estate owned included in the total carrying amount and measured at fair value on a nonrecurring basis during the year amounted to $48,000.

The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2025 and 2024 (in thousands):

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Quoted Prices

 

 

 

 

 

 

 

 

 

 

 

 

in Active

 

 

Significant

 

 

Significant

 

 

 

 

 

 

Markets for

 

 

Other

 

 

Unobservable

 

 

 

 

 

 

Identical Assets

 

 

Observable Inputs

 

 

Inputs

 

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

10,389

 

 

$

—

 

 

$

—

 

 

$

10,389

 

Foreclosed assets held for sale

 

 

605

 

 

 

—

 

 

 

—

 

 

 

605

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

16,604

 

 

$

—

 

 

$

—

 

 

$

16,604

 

Foreclosed assets held for sale

 

 

48

 

 

 

—

 

 

 

—

 

 

 

48

 

Sensitivity of Significant Unobservable Inputs

The following table presents quantitative information about unobservable inputs used in Level 3 fair value measurements other than goodwill at December 31, 2025.

 

 

 

Fair Value

 

 

Valuation

 

 

 

Range

 

 

(in thousands)

 

 

Technique

 

Unobservable Inputs

 

(Weighted Average)

Collateral dependent loans

 

$

10,389

 

 

Third party valuations

 

Discount to reflect realizable value

 

0% - 40%

 

(20%)

Foreclosed assets held for sale

 

 

605

 

 

Third party valuations

 

Discount to reflect realizable value less estimated selling costs

 

0% - 40%

 

(35%)

The following table presents quantitative information about unobservable inputs used in Level 3 fair value measurements other than goodwill at December 31, 2024.

 

 

 

Fair Value

 

 

Valuation

 

 

 

Range

 

 

(in thousands)

 

 

Technique

 

Unobservable Inputs

 

(Weighted Average)

Collateral dependent loans

 

$

16,604

 

 

Third party valuations

 

Discount to reflect realizable value

 

0% - 40%

 

(20%)

Foreclosed assets held for sale

 

 

48

 

 

Third party valuations

 

Discount to reflect realizable value less estimated selling costs

 

0% - 40%

 

(35%)

 

The following tables present estimated fair values of the Company’s financial instruments at December 31, 2025 and 2024 (in thousands):

 

 

 

Carrying

 

 

Fair

 

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

254,844

 

 

$

254,844

 

 

$

254,844

 

 

$

—

 

 

$

—

 

Federal funds sold

 

 

76

 

 

 

76

 

 

 

76

 

 

 

—

 

 

 

—

 

Certificates of deposit investments

 

 

1,740

 

 

 

1,740

 

 

 

—

 

 

 

1,740

 

 

 

—

 

Available-for-sale securities

 

 

1,076,883

 

 

 

1,076,883

 

 

 

—

 

 

 

1,074,124

 

 

 

2,759

 

Held-to-maturity securities

 

 

2,288

 

 

 

2,288

 

 

 

2,288

 

 

 

—

 

 

 

—

 

Equity securities

 

 

4,588

 

 

 

4,588

 

 

 

4,588

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

5,203

 

 

 

5,203

 

 

 

—

 

 

 

5,203

 

 

 

—

 

Loans net of allowance for credit losses

 

 

5,931,296

 

 

 

5,761,258

 

 

 

—

 

 

 

—

 

 

 

5,761,258

 

Interest receivable

 

 

39,949

 

 

 

39,949

 

 

 

—

 

 

 

39,949

 

 

 

—

 

Federal Reserve Bank stock

 

 

19,855

 

 

 

19,855

 

 

 

—

 

 

 

19,855

 

 

 

—

 

Federal Home Loan Bank stock

 

 

11,351

 

 

 

11,351

 

 

 

—

 

 

 

11,351

 

 

 

—

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

6,395,273

 

 

$

6,322,439

 

 

$

—

 

 

$

5,265,780

 

 

$

1,056,659

 

Securities sold under agreements to repurchase

 

 

196,716

 

 

 

196,716

 

 

 

—

 

 

 

196,716

 

 

 

—

 

Interest payable

 

 

5,782

 

 

 

5,782

 

 

 

—

 

 

 

5,782

 

 

 

—

 

Federal Home Loan Bank borrowings

 

 

270,000

 

 

 

270,338

 

 

 

—

 

 

 

270,338

 

 

 

—

 

Subordinated debentures

 

 

60,008

 

 

 

60,800

 

 

 

—

 

 

 

60,800

 

 

 

—

 

Junior subordinated debentures

 

 

24,454

 

 

 

22,083

 

 

 

—

 

 

 

22,083

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

121,141

 

 

$

121,141

 

 

$

121,141

 

 

$

—

 

 

$

—

 

Federal funds sold

 

 

75

 

 

 

75

 

 

 

75

 

 

 

—

 

 

 

—

 

Certificates of deposit investments

 

 

3,500

 

 

 

3,500

 

 

 

—

 

 

 

3,500

 

 

 

—

 

Available-for-sale securities

 

 

1,063,292

 

 

 

1,063,292

 

 

 

—

 

 

 

1,057,533

 

 

 

5,759

 

Held-to-maturity securities

 

 

2,279

 

 

 

2,279

 

 

 

2,279

 

 

 

—

 

 

 

—

 

Equity securities

 

 

4,439

 

 

 

4,439

 

 

 

4,439

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

6,614

 

 

 

6,614

 

 

 

—

 

 

 

6,614

 

 

 

—

 

Loans net of allowance for credit losses

 

 

5,595,666

 

 

 

5,314,756

 

 

 

—

 

 

 

—

 

 

 

5,314,756

 

Interest receivable

 

 

38,639

 

 

 

38,639

 

 

 

—

 

 

 

38,639

 

 

 

—

 

Federal Reserve Bank stock

 

 

19,855

 

 

 

19,855

 

 

 

—

 

 

 

19,855

 

 

 

—

 

Federal Home Loan Bank stock

 

 

9,501

 

 

 

9,501

 

 

 

—

 

 

 

9,501

 

 

 

—

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

6,057,096

 

 

$

5,977,113

 

 

$

—

 

 

$

5,069,853

 

 

$

907,260

 

Securities sold under agreements to repurchase

 

 

204,122

 

 

 

204,122

 

 

 

—

 

 

 

204,122

 

 

 

—

 

Interest payable

 

 

5,280

 

 

 

5,280

 

 

 

—

 

 

 

5,280

 

 

 

—

 

Federal Home Loan Bank borrowings

 

 

242,520

 

 

 

240,125

 

 

 

—

 

 

 

240,125

 

 

 

—

 

Subordinated debentures

 

 

87,472

 

 

 

86,062

 

 

 

—

 

 

 

86,062

 

 

 

—

 

Junior subordinated debentures

 

 

24,280

 

 

 

21,411

 

 

 

—

 

 

 

21,411

 

 

 

—

 
v3.25.4
Deferred Compensation Plan
 12 Months Ended
Dec. 31, 2025
Deferred Compensation Plan [Abstract]  
Deferred Compensation Plan

Note 12 -- Deferred Compensation Plan

The Company follows the provisions of ASC 710, for purposes of the First Mid Bancshares, Inc. Amended and Restated Deferred Compensation Plan (“DCP”). At December 31, 2025, the Company classified the cost basis of its common stock issued and held in trust in connection with the DCP of approximately $6.8 million as treasury stock. The Company also classified the cost basis of its related deferred compensation obligation of approximately $6.8 million as an equity instrument (deferred compensation). The DCP was effective as of June 1984. The purpose of the DCP is to enable directors, advisory directors, and key employees the opportunity to defer a portion of the fees and cash compensation paid by the Company as a means of maximizing the effectiveness and flexibility of compensation arrangements. The Company invests all participants’ deferrals in shares of common stock. Dividends paid on the shares are credited to participants’ DCP accounts and invested in additional shares. During 2025 and 2024, the Company issued no common shares pursuant to the DCP.

The Company also maintains deferred compensation arrangements that were acquired in the Soy Capital acquisition. Individual participants in the agreements are primarily business development employees in the First Mid Insurance and First Mid Wealth Management divisions. The total liabilities associated with these agreements are included in other liabilities on the Company's consolidated balance sheets as of December 31, 2025 and 2024.
v3.25.4
Stock Incentive Plan
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock Incentive Plan

Note 13 -- Stock Incentive Plan

At the Annual Meeting of Stockholders held April 26, 2017, the stockholders approved the 2017 Stock Incentive Plan ("SI Plan"). The SI Plan was implemented to succeed the Company's 2007 Stock Incentive Plan, which had a ten-year term. At the Annual Meeting of Stockholders held on April 30, 2025, the stockholders approved amendments to the SI Plan to change the name of the plan to the 2025 Stock Incentive Plan and to extend the term of the plan to January 21, 2035. The SI Plan is intended to provide a means whereby directors, employees, consultants and advisors of the Company and its Subsidiaries may sustain a sense of proprietorship and personal involvement in the continued development and financial success of the Company and its Subsidiaries, thereby advancing the interests of the Company and its stockholders. Accordingly, directors and selected employees, consultants and advisors may be provided the opportunity to acquire shares of Common Stock of the Company on the terms and conditions established in the SI Plan.

Following the stockholders' approval at the 2025 annual meeting of the Company, a maximum of 1 million shares of common stock may be issued under the SI Plan. The Company awarded 84,097, 80,332 and 45,986 shares (under the 2017 Stock Incentive Plan) during 2025, 2024, and 2023, respectively, as stock and stock unit awards. The Company recognizes forfeitures of awarded shares as they occur.

The following table summarizes the compensation cost, net of forfeitures, related to stock-based compensation for the years ended December 31, 2025, 2024, and 2023 (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Stock and stock unit awards:

 

 

 

 

 

 

 

 

 

Pre-tax compensation expense

 

$

2,642

 

 

$

2,359

 

 

$

1,656

 

Income tax benefit

 

 

(555

)

 

 

(495

)

 

 

(348

)

Total share-based compensation expense, net of income taxes

 

$

2,087

 

 

$

1,864

 

 

$

1,308

 

The following table summarizes non-vested stock and stock unit activity for the years ended December 31, 2025, 2024, and 2023:

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

Weighted-avg

 

 

 

 

 

Weighted-avg

 

 

 

 

 

Weighted-avg

 

 

 

 

 

 

Grant-date

 

 

 

 

 

Grant-date

 

 

 

 

 

Grant-date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Nonvested, beginning of year

 

 

96,571

 

 

$

32.29

 

 

 

76,740

 

 

$

33.24

 

 

 

82,048

 

 

$

37.41

 

Granted

 

 

84,097

 

 

 

38.96

 

 

 

80,332

 

 

 

33.51

 

 

 

45,986

 

 

 

27.64

 

Vested

 

 

(62,512

)

 

 

(35.20

)

 

 

(58,330

)

 

 

(35.05

)

 

 

(49,525

)

 

 

(34.88

)

Forfeited

 

 

(1,452

)

 

 

(36.39

)

 

 

(2,171

)

 

 

(32.21

)

 

 

(1,769

)

 

 

(35.15

)

Nonvested, end of year

 

 

116,704

 

 

$

35.57

 

 

 

96,571

 

 

$

32.29

 

 

 

76,740

 

 

$

33.24

 

Fair value of shares vested

 

 

 

 

$

2,200,358

 

 

 

 

 

$

2,044,438

 

 

 

 

 

$

1,727,554

 

The fair value of the awards is amortized to compensation expense over the vesting periods of the awards (four years for restricted stock unit awards and three years for restricted stock awards) and is based on the market price of the Company’s common stock at the date of grant multiplied by the number of shares granted that are expected to vest. As of December 31, 2025, 2024, and 2023, there was $2.0 million, $1.4 million, and $1.5 million, respectively, of total unrecognized compensation cost related to unvested stock and stock unit awards under the SI Plan.
v3.25.4
Retirement Plans
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Retirement Plans

Note 14 -- Retirement Plans

The Company has a defined contribution retirement plan which covers substantially all employees, which for 2025, provided a Company matching contribution of up to 6% of pre-tax contributions made by each participant. Employee contributions are limited to the 402(g) limit of compensation. The total expense for the plan amounted to $4.7 million, $4.8 million and $4.0 million in 2025, 2024, and 2023, respectively.

v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

Note 15 -- Income Taxes

The components of federal and state income tax expense for the years ended December 31, 2025, 2024, and 2023 were as follows (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Current

 

 

 

 

 

 

 

 

 

Federal

 

$

19,899

 

 

$

18,504

 

 

$

2,189

 

State

 

 

7,738

 

 

 

6,404

 

 

 

542

 

Total current

 

 

27,637

 

 

 

24,908

 

 

 

2,731

 

Deferred

 

 

 

 

 

 

 

 

 

Federal

 

 

(1,887

)

 

 

(2,497

)

 

 

12,585

 

State

 

 

(451

)

 

 

3,087

 

 

 

4,154

 

Total deferred

 

 

(2,338

)

 

 

590

 

 

 

16,739

 

Total

 

$

25,299

 

 

$

25,498

 

 

$

19,470

 

 

Recorded income tax expense differs from the expected tax expense (computed by applying the applicable statutory U.S. federal tax rate of 21% to income before income taxes). The principal reasons for the difference are as follows (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

Amount

 

Percentage

 

 

Amount

 

Percentage

 

 

Amount

 

Percentage

 

US statutory income tax rate

 

$

24,580

 

 

21.0

%

 

$

21,923

 

 

21.0

%

 

$

18,565

 

 

21.0

%

Domestic state and local income tax, net of federal

 

 

5,772

 

 

4.9

%

 

 

4,917

 

 

4.7

%

 

 

3,710

 

 

4.2

%

Tax credits (federal)

 

 

(290

)

 

-0.2

%

 

 

(229

)

 

-0.2

%

 

 

(303

)

 

-0.3

%

Nontaxable or nondeductible items (federal)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt income from bank owned life insurance

 

 

(908

)

 

-0.8

%

 

 

(994

)

 

-1.0

%

 

 

(1,035

)

 

-1.2

%

Nondeductible interest expense

 

 

98

 

 

0.1

%

 

 

307

 

 

0.3

%

 

 

799

 

 

0.9

%

Other tax-exempt income

 

 

(2,459

)

 

-2.1

%

 

 

(2,397

)

 

-2.3

%

 

 

(2,416

)

 

-2.7

%

Other

 

 

93

 

 

0.1

%

 

 

(297

)

 

-0.3

%

 

 

251

 

 

0.3

%

Changes in valuation allowances (federal)

 

 

(607

)

 

-0.5

%

 

 

(357

)

 

-0.3

%

 

 

—

 

 

—

%

Changes in tax laws or rates enacted in the current period

 

 

—

 

 

—

%

 

 

2,581

 

 

2.5

%

 

 

—

 

 

—

%

Changes in unrecognized tax benefits (federal), net

 

 

249

 

 

0.2

%

 

 

213

 

 

0.2

%

 

 

—

 

 

—

%

Other items

 

 

(1,229

)

 

-1.0

%

 

 

(169

)

 

-0.2

%

 

 

(101

)

 

-0.1

%

Effective tax rate

 

$

25,299

 

 

21.6

%

 

$

25,498

 

 

24.4

%

 

$

19,470

 

 

22.0

%

Tax expense recorded by the Company for the years ended December 31, 2025, 2024, and 2023 included interest or penalties of approximately $249,000, $213,000, and $307,000, respectively. Tax returns filed with the Internal Revenue Service, Illinois, Wisconsin, Florida, Indiana, Missouri, and Texas Department of Revenues are subject to review by law under a three-year statute of limitations. The Company is no longer subject to U.S. federal or state income tax examinations by tax authorities for years before 2022.

On July 4, 2025, The One Big Beautiful Bill Act, was signed into law. The Company has completed its evaluation of the provisions of the bill and does not expect it to have a material impact on its financial statements.

The tax effects of the temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2025 and 2024 are presented below (in thousands):

 

 

 

2025

 

 

2024

 

Deferred tax assets:

 

 

 

 

 

 

Allowance for credit losses

 

$

19,751

 

 

$

18,588

 

Available-for-sale investment securities

 

 

36,171

 

 

 

49,082

 

Deferred compensation

 

 

4,215

 

 

 

4,377

 

Supplemental retirement

 

 

533

 

 

 

512

 

Deferred loan costs

 

 

384

 

 

 

462

 

Stock compensation expense

 

 

207

 

 

 

80

 

Deferred revenue

 

 

162

 

 

 

211

 

Acquisition costs

 

 

87

 

 

 

112

 

Lease liability

 

 

3,476

 

 

 

3,743

 

Other

 

 

3,083

 

 

 

3,623

 

Total gross deferred tax assets

 

 

68,069

 

 

 

80,790

 

Less valuation allowance

 

 

—

 

 

 

(682

)

Net deferred tax asset

 

 

68,069

 

 

 

80,108

 

Deferred tax liabilities:

 

 

 

 

 

 

Intangibles amortization

 

 

8,722

 

 

 

5,378

 

Prepaid expenses

 

 

1,947

 

 

 

2,023

 

FHLB stock dividend

 

 

21

 

 

 

21

 

Deferred expenses

 

 

100

 

 

 

100

 

Purchase accounting

 

 

—

 

 

 

1,854

 

Depreciation

 

 

3,177

 

 

 

4,517

 

Accumulated accretion

 

 

—

 

 

 

222

 

Mortgage servicing rights

 

 

1,202

 

 

 

1,485

 

Right of use asset

 

 

3,335

 

 

 

3,657

 

Other

 

 

552

 

 

 

1,265

 

Total gross deferred tax liabilities

 

 

19,056

 

 

 

20,522

 

Deferred tax assets, net

 

$

49,013

 

 

$

59,586

 

In evaluating the realizability of its deferred tax assets, the Company assesses whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on historical taxable income and projected future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will generate sufficient taxable income to realize the deferred tax assets as of December 31, 2024 and 2025, except

for a valuation allowance of $682,000 recorded against the 2024 net deferred tax asset related to capital loss carryforwards. In determining the need for this valuation allowance, the Company considered all positive and negative evidence available in assessing whether the weight of such evidence supported recognition of the deferred tax assets related to these capital losses. The Company expects to generate sufficient capital gains in 2025 to utilize the capital loss carryforwards; therefore, the Company has concluded that a valuation allowance is no longer warranted for the related deferred tax asset.
 
v3.25.4
Dividend Restrictions
 12 Months Ended
Dec. 31, 2025
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments [Abstract]  
Dividend Restrictions

Note 16 -- Dividend Restrictions

The National Bank Act imposes limitations on the amount of dividends that may be paid by a national bank, such as First Mid Bank. Generally, a national bank may pay dividends out of its undivided profits, in such amounts and at such times as the bank’s board of directors deems prudent. Without prior OCC approval, however, a national bank may not pay dividends in any calendar year which, in the aggregate, exceed the bank’s year-to-date net income plus the bank’s adjusted retained net income for the two preceding years. Factors that could adversely affect First Mid Bank’s net income include other-than- temporary impairment on investment securities that result in credit losses and economic conditions in industries where there are concentrations of loans outstanding that result in impairment of these loans and, consequently loan charges and the need for increased allowances for losses. See “Item 1A. Risk Factors,” Note 4 – “Investment Securities” and Note 5 – “Loans” for a more detailed discussion of the factors.

The payment of dividends by any financial institution or its holding company is affected by the requirement to maintain adequate capital pursuant to applicable capital adequacy guidelines and regulations, and a financial institution generally is prohibited from paying any dividends if, following payment thereof, the institution would be undercapitalized. As described above, First Mid Bank exceeded their minimum capital requirements under applicable guidelines as of December 31, 2025. As of December 31, 2025, approximately $54.5 million was available to be paid as dividends to the Company by First Mid Bank. Notwithstanding the availability of funds for dividends, however, the OCC may prohibit the payment of any dividends by First Mid Bank if the OCC determines that such payment would constitute an unsafe or unsound practice.
v3.25.4
Commitments and Contingent Liabilities
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingent Liabilities

Note 17 -- Commitments and Contingent Liabilities

First Mid Bank enters into financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include lines of credit, letters of credit and other commitments to extend credit. Each of these instruments involves, to varying degrees, elements of credit, interest rate and liquidity risk in excess of the amounts recognized in the consolidated balance sheets. The Company uses the same credit policies and requires similar collateral in approving lines of credit and commitments and issuing letters of credit as it does in making loans. The exposure to credit losses on financial instruments is represented by the contractual amount of these instruments. However, the Company does not anticipate any losses from these instruments.

The off-balance sheet financial instruments whose contract amounts represent credit risk at December 31, 2025 and 2024 were as follows (in thousands):

 

 

 

2025

 

 

2024

 

Unused commitments and lines of credit:

 

 

 

 

 

 

Commercial real estate

 

$

214,028

 

 

$

323,979

 

Commercial operating

 

 

675,087

 

 

 

649,082

 

Home equity

 

 

119,456

 

 

 

105,867

 

Other

 

 

371,322

 

 

 

332,113

 

Total

 

$

1,379,893

 

 

$

1,411,041

 

Standby letters of credit

 

$

17,575

 

 

$

16,909

 

Commitments to originate credit represent approved commercial, residential real estate and home equity loans that generally are expected to be funded within ninety days. Lines of credit are agreements by which the Company agrees to provide a borrowing accommodation up to a stated amount as long as there is no violation of any condition established in the loan agreement. Both commitments to originate credit and lines of credit generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the lines and some commitments are expected to expire without being drawn upon, the total amounts do not necessarily represent future cash requirements.

Standby letters of credit are conditional commitments issued by the Company to guarantee the financial performance of customers to third parties. Standby letters of credit are primarily issued to facilitate trade or support borrowing arrangements and generally expire in one year or less. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending credit facilities to customers. The maximum amount of credit that would be extended under letters of credit is equal to the total off-balance sheet contract amount of such instrument at December 31, 2025 and 2024. The Company's deferred revenue under standby letters of credit was nominal.

The Company is also subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition of ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operations and cash flows of the Company.
v3.25.4
Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions

Note 18 -- Related Party Transactions

Certain officers, directors and principal stockholders of the Company and its subsidiaries, their immediate families or their affiliated companies (“related parties”) have loans with one or more of the subsidiaries. Loans to related parties totaled approximately $130.3 million and $247.9 million at December 31, 2025 and 2024, respectively. Activity during 2025 and 2024 was as follows (in thousands):

 

 

 

2025

 

 

2024

 

Beginning balance

 

$

247,942

 

 

$

248,698

 

New loans

 

 

17,237

 

 

 

144,024

 

Loan repayments

 

 

(134,897

)

 

 

(144,780

)

Ending balance

 

$

130,282

 

 

$

247,942

 

Deposits from related parties held by First Mid Bank at December 31, 2025 and 2024 totaled $158.5 million and $61.2 million, respectively.
v3.25.4
Business Combinations
 12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
Business Combinations

Note 19 -- Business Combinations

On August 15, 2023, the Company completed its acquisition of Blackhawk Bancorp, Inc. (“Blackhawk”) pursuant to an Agreement and Plan of Merger, dated March 20, 2023 (the “Blackhawk Merger Agreement”). Pursuant to the Blackhawk Merger Agreement, Blackhawk was merged with and into the Company. Blackhawk shareholders received 1.15 shares of the Company's common stock for each share of Blackhawk common stock.

The Company accounted for the Blackhawk acquisition as a business combination using the acquisition method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”). ASC 805 requires assets purchased and liabilities assumed to be recorded at their respective fair values at the date of acquisition. The Company determined the fair value of loans, core deposit intangibles, mortgage servicing rights, time deposits, real property, and subordinated debt with the assistance of third-party valuations and appraisals.

A preliminary summary of the fair value of assets received and liabilities assumed are as follows:

 

(In thousands)

 

 

 

Assets

 

 

 

Cash and due from banks

 

$

55,600

 

Loans held for sale

 

 

3,222

 

Loans, net

 

 

722,866

 

Investments-available for sale

 

 

377,969

 

Short-term investments

 

 

869

 

FHLB stock

 

 

1,737

 

Premises and equipment

 

 

12,366

 

Accrued interest receivable

 

 

4,029

 

Prepaid expenses

 

 

1,182

 

Other assets

 

 

20,703

 

Core deposit intangible

 

 

34,590

 

Income tax receivable

 

 

2,077

 

Deferred tax asset

 

 

22,152

 

Mortgage servicing rights

 

 

7,070

 

Total assets acquired

 

$

1,266,432

 

 

 

 

Liabilities

 

 

 

Deposits

 

$

1,194,972

 

Subordinated and jr. subordinated debt

 

 

16,448

 

Accrued interest payable

 

 

1,091

 

Accrued and other liabilities

 

 

10,508

 

Total liabilities assumed

 

 

1,223,019

 

Net assets acquired

 

$

43,413

 

 

 

 

Total consideration

 

$

93,510

 

Goodwill

 

$

50,097

 

The following table presents a summary of consideration transferred:

 

(In thousands, except shares)

 

 

 

Common stock issued (3,290,222 shares)

 

$

93,508

 

Cash consideration

 

 

2

 

Purchase price

 

$

93,510

 

 

The Company recorded $50.1 million of goodwill in connection with the acquisition of Blackhawk, none of which is deductible for tax purposes. The amount of goodwill recorded reflects the synergies and operational efficiencies that are expected to result from the acquisition. The descriptions below describe the methods used to determine the fair value of significant assets acquired and liabilities assumed, as presented above:

Loans, net. The fair value of the loan portfolio was calculated on an individual loan basis using a discounted cash flow analysis, with results presented and assumptions applied on a summary basis. This analysis took into consideration the contractual terms of the loans and assumptions related to the cost of debt, cost of equity, servicing cost and other liquidity/risk premium considerations to estimate the projected cash flows. The inputs and assumptions used in the fair value estimate of the loan portfolio include credit mark, discount rate, prepayment speed, and foreclosure lag. Cash flows were adjusted by estimating future credit losses and the rate of prepayments. Projected monthly cash flows were then discounted to present value using a risk-adjusted market rate for similar loans.

Core deposit intangible. The Company identified customer relationships, in the form of core deposit intangibles, as an identified intangible asset. Core deposit intangibles derive value from the expected future benefits or earnings capacity attributable to the acquired core deposits. The fair value of the core deposit intangible was estimated by identifying the expected future benefits of the core deposits and discounting those benefits back to present value. The core deposit intangible will be amortized over its estimated useful life of approximately 10 years using the sum of the months digits accelerated method.

Mortgage servicing rights. The Company identified residential mortgage servicing rights intangible asset and determined the fair value using a discounted cash flow analysis. The key inputs and assumptions used in the fair value estimate include prepayment assumptions, servicing costs, delinquencies, foreclosure costs, ancillary income, income earned on float and escrow, interest on escrow, internal rate of return and inflation.

Deposits. The fair value of demand deposit and interest checking deposit accounts was assumed to approximate the carrying value as these accounts have no stated maturity and are payable on demand. The fair value of time deposits was estimated by discounting the contractual future cash flows using market rates offered for time deposits of similar remaining maturities.

Subordinated and jr. subordinated debt. The Subordinated and jr. subordinated debt was fair valued using an income approach. Cash flows were calculated using an annualized contractual rate adjusted for forward interest costs and discounted using a variable discount rate.

Accounting for acquired loans

Loans acquired are recorded at fair value with no carryover of the related allowance for credit losses. Purchased-credit deteriorated loans (“PCD”) are loans that have experienced more than insignificant credit deterioration since origination and are recorded at the purchase price. The allowance for credit losses is determined at the loan level. The sum of the loan’s purchase price and the allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan.

Non-PCD loans have not experienced a more than insignificant deterioration in credit quality since origination. The difference between the fair value and outstanding balance of the non-PCD loans is recognized as an adjustment to interest income over the lives of the loan.

In accordance with ASC 326, Financial Instruments – Credit Losses, immediately following the acquisition the Company established a $3.8 million allowance for credit losses on the $618.33 million of acquired non-PCD loans through provision for credit losses in the consolidated statement of operations.

The following table provides a summary of PCD loans purchased as part of the Blackhawk acquisition as of the acquisition date:

 

(In thousands)

 

 

 

Unpaid principal balance

 

$

115,250

 

PCD allowance for credit losses at acquisition

 

 

(3,791

)

Non-credit discount on acquired loans

 

 

(5,476

)

Fair value of PCD loans

 

$

105,983

 

The following unaudited pro forma condensed combined financial information presents the results of operations of the Company, including the effects of the purchase accounting adjustments and acquisition expenses, had the Blackhawk Merger taken place at the beginning of the period (dollars in thousands, except per share data):

 

 

 

Twelve months ended

 

 

 

December 31, 2023

 

Net interest income

 

$

229,317

 

Provision for credit losses

 

 

7,320

 

Non-interest income

 

 

95,660

 

Non-interest expense

 

 

223,354

 

Income before income taxes

 

 

94,303

 

Income tax expense

 

 

20,744

 

Net income available to common stockholders

 

$

73,559

 

Earnings per share

 

 

 

Basic

 

$

3.38

 

Diluted

 

$

3.36

 

Basic weighted average shares outstanding

 

 

21,780,217

 

Diluted weighted average shares outstanding

 

 

21,868,788

 

 

Acquisition costs are expensed as incurred as a component of non-interest expense and primarily include, but are not limited to, severance costs, professional services, data processing fees, and marketing and advertising expenses. The Company incurred acquisition costs related to the Blackhawk acquisition, pre-tax, of $2.5 million, $8.2 million, and $0 during the year ended December 31, 2024 and 2023, respectively.
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases

Note 20 -- Leases

The Company recognizes a lease liability and a right-of-use asset, based on the present value of lease payments over the lease term. The discount rate used in determining the present value is the Company's incremental borrowing rate which is the FHLB fixed advance rate based on the lease commencement date. In addition, the Company has elected not to include short-term leases (i.e. leases with terms of twelve months or less) or equipment leases (primarily copiers) deemed immaterial, on the consolidated balance sheets. The following table contains supplemental balance sheet information related to leases (dollars in thousands):

 

 

 

2025

 

 

2024

 

Operating lease right-of-use assets

 

$

12,674

 

 

$

13,861

 

Operating lease liabilities

 

 

13,210

 

 

 

14,190

 

Weighted-average remaining lease term (in years)

 

4.4

 

 

4.7

 

Weighted-average discount rate

 

 

3.54

%

 

 

3.22

%

Certain of the Company's leases contain options to renew the lease; however, not all renewal options are included in the calculation of lease liabilities as they are not reasonably certain to be exercised. The Company's leases do not contain residual value guarantees or material variable lease payments. The Company does not have any other material restrictions or covenants imposed by leases that would impact the Company's ability to pay dividends or cause the Company to incur additional financial obligations.

Future minimum lease payments under operating leases are (in thousands):

 

 

 

Operating Leases

 

2026

 

$

3,327

 

2027

 

 

3,089

 

2028

 

 

2,439

 

2029

 

 

1,982

 

2030

 

 

1,338

 

Thereafter

 

 

2,483

 

Total minimum lease payments

 

 

14,658

 

Less imputed interest

 

 

(1,448

)

Total lease liability

 

$

13,210

 

The components of lease expense for the twelve months ended December 31, 2025 and 2024 were as follows (in thousands):

 

 

 

2025

 

 

2024

 

Operating lease cost

 

$

3,331

 

 

$

3,394

 

Short-term lease cost

 

 

145

 

 

 

118

 

Variable lease cost

 

 

1,182

 

 

 

775

 

Total lease cost

 

 

4,658

 

 

 

4,287

 

Income from subleases

 

 

(326

)

 

 

(429

)

Net lease cost

 

$

4,332

 

 

$

3,858

 

As the Company elected not to separate lease and non-lease components, the variable lease cost primarily represents variable payment such as common area maintenance and copier expense. The Company does not have any material sub-lease agreements. The Company recognized a $630,000 gain on the sale of their branch location in St. Louis, MO and subsequently leased the property back from the buyer with a lease term ending on December 31, 2026. Cash paid for amounts included in the measurement of lease liabilities was (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Operating cash flows from operating leases

 

$

3,309

 

 

$

3,333

 

 

$

3,263

 
v3.25.4
Derivatives
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives

Note 21 -- Derivatives

The Company utilizes interest rate swaps, designated as fair value hedges, to mitigate the risk of changing interest rates on the fair value of fixed rate loans. For derivative instruments that are designed and qualify as a fair value hedge, the gain or loss on the derivative instrument, as well as the offsetting loss or gain in the hedged asset attributable to the hedged risk, is recognized in current earnings.

Derivatives Designated as Hedging Instruments

The following table provides the outstanding notional balances and fair value of outstanding derivatives designated as hedging instruments as of December 31, 2025 and 2024 (in thousands):

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

Balance Sheet

 

Remaining Maturity

 

 

Notional

 

 

Estimated

 

Derivative

 

Location

 

(Years)

 

 

Amount

 

 

Value

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

 

3.3

 

 

$

11,974

 

 

$

(1,247

)

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

 

4.3

 

 

$

12,486

 

 

$

(2,006

)

The effects of fair value hedges on the Company's income statement during the twelve months ended December 31, 2025 and 2024 were as follows (in thousands):

 

Derivative

 

Location of Gain (Loss) on Derivative

 

2025

 

 

2024

 

Interest rate swap agreements

 

Interest income on loans

 

$

(462

)

 

$

(6

)

 

Derivative

 

Location of Gain (Loss) on Hedged Items

 

2025

 

 

2024

 

Interest rate swap agreements

 

Interest income on loans

 

$

462

 

 

$

6

 

As of December 31, 2025 and 2024, the following amounts were recorded on the balance sheet related to the cumulative basis adjustment for fair value hedges (in thousands):

 

 

 

 

 

 

 

Cumulative Amount of Fair Value Hedging

 

Line Item in the Balance Sheet in

 

Carrying Amount of

 

 

Adjustments Included in the Carrying

 

Which the Hedge Items are Included

 

the Hedged Assets

 

 

Amount of the Hedged Assets

 

December 31, 2025

 

 

 

 

 

 

 

 

Loans

 

 

$

11,493

 

 

 

$

(481

)

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

Loans

 

 

$

11,543

 

 

 

$

(943

)

Derivatives Not Designated as Hedging Instruments

 

The following table provides the outstanding notional balances and fair value of outstanding derivatives not designated as hedging instruments as of December 31, 2025 and 2024 (in thousands):

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

Balance Sheet

 

Remaining Maturity

 

Notional

 

 

Estimated

 

 

 

Location

 

(Years)

 

Amount

 

 

Value

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other assets

 

3.0

 

$

27,233

 

 

$

1,728

 

Interest rate swap agreements

 

Loans

 

3.0

 

 

27,233

 

 

 

481

 

Interest rate swap agreements

 

Other liabilities

 

3.0

 

 

27,233

 

 

 

1,247

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other assets

 

4.0

 

$

28,968

 

 

$

2,949

 

Interest rate swap agreements

 

Other liabilities

 

4.0

 

 

28,968

 

 

 

(2,949

)
v3.25.4
Parent Company Only Financial Statements
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Parent Company Only Financial Statements

Note 22 -- Parent Company Only Financial Statements

Presented below are condensed balance sheets, statements of income and cash flows for the Company (in thousands):

 

First Mid Bancshares, Inc. (Parent Company)

 

 

 

 

 

 

Balance Sheets

 

December 31,

 

 

 

2025

 

 

2024

 

Assets

 

 

 

 

 

 

Cash

 

$

25,845

 

 

$

11,762

 

Premises and equipment, net

 

 

360

 

 

 

5,301

 

Investment in subsidiaries

 

 

996,334

 

 

 

934,750

 

Other assets

 

 

22,839

 

 

 

8,230

 

Total assets

 

$

1,045,378

 

 

$

960,043

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Debt

 

$

84,462

 

 

$

111,752

 

Other liabilities

 

 

2,224

 

 

 

1,900

 

Total liabilities

 

 

86,686

 

 

 

113,652

 

Stockholders’ equity

 

 

958,692

 

 

 

846,391

 

Total liabilities and stockholders’ equity

 

$

1,045,378

 

 

$

960,043

 

 

First Mid Bancshares, Inc. (Parent Company)

 

 

 

 

 

 

 

 

 

Statements of Income and Comprehensive Income (Loss)

 

Years ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Income:

 

 

 

 

 

 

 

 

 

Dividends from subsidiaries

 

$

79,115

 

 

$

58,000

 

 

$

51,213

 

Other income

 

 

159

 

 

 

681

 

 

 

87

 

Total income

 

 

79,274

 

 

 

58,681

 

 

 

51,300

 

Operating expenses

 

 

11,287

 

 

 

11,256

 

 

 

12,192

 

Income before income taxes and equity in undistributed earnings of subsidiaries

 

 

67,987

 

 

 

47,425

 

 

 

39,108

 

Income tax benefit

 

 

3,047

 

 

 

2,892

 

 

 

3,453

 

Income before equity in undistributed earnings of subsidiaries

 

 

71,034

 

 

 

50,317

 

 

 

42,561

 

Equity in undistributed earnings of subsidiaries

 

 

20,715

 

 

 

28,581

 

 

 

26,374

 

Net income

 

 

91,749

 

 

 

78,898

 

 

 

68,935

 

Other comprehensive income (loss), net of taxes

 

 

41,082

 

 

 

(5,956

)

 

 

15,080

 

Comprehensive income (loss)

 

$

132,831

 

 

$

72,942

 

 

$

84,015

 

 

 

First Mid Bancshares, Inc. (Parent Company)

 

 

 

 

 

 

 

 

 

Statements of Cash Flows

 

Years ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

Net income

 

$

91,749

 

 

$

78,898

 

 

$

68,935

 

Adjustments to reconcile net income to net

 

 

 

 

 

 

 

 

 

Cash provided by (used in) operating activities:

 

 

 

 

 

 

 

 

 

Depreciation, amortization, accretion, net

 

 

—

 

 

 

—

 

 

 

265

 

Dividends received from subsidiary

 

 

—

 

 

 

—

 

 

 

51,213

 

Equity in undistributed earnings of subsidiaries

 

 

(20,715

)

 

 

(28,581

)

 

 

(26,374

)

Increase in other assets

 

 

(12,522

)

 

 

(2,221

)

 

 

(49,606

)

Increase (decrease) in other liabilities

 

 

4,798

 

 

 

(871

)

 

 

1,526

 

Net cash provided by (used in) operating activities

 

 

63,310

 

 

 

47,225

 

 

 

45,959

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

Investment in subsidiary

 

 

—

 

 

 

(4,000

)

 

 

—

 

Net cash from (used in) business acquisition

 

 

—

 

 

 

—

 

 

 

(41,827

)

Other

 

 

3,654

 

 

 

—

 

 

 

—

 

Net cash provided by (used in) investing activities

 

 

3,654

 

 

 

(4,000

)

 

 

(41,827

)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

Repayment of long-term debt

 

 

(29,882

)

 

 

(19,455

)

 

 

—

 

Proceeds from issuance of common stock

 

 

1,120

 

 

 

1,054

 

 

 

1,004

 

Payment to repurchase common stock

 

 

(724

)

 

 

(659

)

 

 

(465

)

Dividends paid on common stock

 

 

(23,395

)

 

 

(22,371

)

 

 

(19,557

)

Net cash provided by (used in) financing activities

 

 

(52,881

)

 

 

(41,431

)

 

 

(19,018

)

Increase (decrease) in cash

 

 

14,083

 

 

 

1,794

 

 

 

(14,886

)

Cash at beginning of year

 

 

11,762

 

 

 

9,968

 

 

 

24,854

 

Cash at end of year

 

$

25,845

 

 

$

11,762

 

 

$

9,968

 
v3.25.4
Basis of Accounting and Consolidation (Policies)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Accounting and Consolidation

The accompanying consolidated financial statements include the accounts of First Mid Bancshares, Inc. (“Company”) and its wholly owned subsidiaries: First Mid Bank & Trust, N.A. (“First Mid Bank”), First Mid Wealth Management Company, First Mid Insurance Group, Inc. (“First Mid Insurance”) and First Mid Captive, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States of America.
Acquisitions

Acquisitions

Ray Farm Management During the quarter ended December 31, 2025, Ray Farm Management Services, Inc's (RFMS) customer list was acquired by the Company for a purchase price of $764,000 and immediately assigned to First Mid Wealth Management.

AAdvantage Insurance Group LLC During the quarter ended September 30, 2025, a portion of AAdvantage Insurance Group LLC’s (AAIG) customer list was acquired by the Company for a purchase price of $2.8 million and immediately assigned to First Mid Insurance Group.

Mid Rivers Insurance Group, Inc. During the quarter ended September 30, 2024, Mid Rivers Insurance Group, Inc. was acquired by the Company for a purchase price of $10.1 million and instantly merged into First Mid Insurance Group.

Purdum, Gray, Ingledue, Beck, Inc. During the quarter ended June 30, 2024, Purdum, Gray, Ingledue, Beck, Inc. was acquired by the Company for a purchase price of $10.2 million and instantly merged into First Mid Insurance Group.

Blackhawk Bancorp, Inc. On March 20, 2023, the Company and Eagle Sub LLC, a newly formed Wisconsin limited liability company and wholly-owned subsidiary of the Company, entered into an Agreement and Plan of Merger (the “Blackhawk Merger Agreement”) with Blackhawk Bancorp, Inc., a Wisconsin corporation (“Blackhawk”), pursuant to which, among other things, agreed to acquire 100% of the issued and outstanding shares of Blackhawk pursuant to a business combination whereby Blackhawk merged with and into Merger Sub, whereupon the separate corporate existence of Blackhawk ceased and Merger Sub continued as the surviving company and a wholly-owned subsidiary of the Company (the “Blackhawk Merger”).

Subject to the terms and conditions of the Blackhawk Merger Agreement, at the effective time of the Blackhawk Merger, each share of common stock, par value $0.01 per share, of Blackhawk issued and outstanding immediately prior to the effective time of the Blackhawk Merger (other than shares held in treasury by Blackhawk and dissenting shares) were converted into and became the right to receive 1.15 shares of common stock, par value $4.00 per share, of the Company and cash in lieu of fractional shares, less any applicable taxes required to be withheld, and subject to certain potential adjustments. On an aggregate basis, the total consideration payable by the Company at the closing of the Blackhawk Merger to Blackhawk’s shareholders and equity award holders was 3,290,222 shares of Company common stock valued at $93.5 million and $2,000 of cash in lieu of fractional shares.

The Blackhawk Merger closed August 15, 2023 and Blackhawk Bank was merged into First Mid Bank on December 1, 2023.

Note 7 provides further information on the intangibles acquired in the above acquisitions.

Pending Acquisitions

On October 29, 2025, the Company and Star Sub LLC, a newly formed Iowa limited liability company and wholly-owned subsidiary of the Company, entered into an Agreement and Plan of Merger (the "Two Rivers Merger Agreement") with Two Rivers Financial Group, Inc. an Iowa corporation (Two Rivers), pursuant to which, among other things, the Company agreed to acquire 100% of the issued and outstanding shares of Two Rivers pursuant to a business combination whereby Two Rivers will merge with and into Star Sub LLC, whereupon the separate corporate existence of Two Rivers will cease and Star Sub LLC will continue as a surviving company and a wholly-owned subsidiary of the Company (the "Two Rivers Merger").

Subject to the terms and conditions of the Two Rivers Merger Agreement, at the effective time of the Two Rivers Merger, each share of common stock of Two Rivers issued and outstanding immediately prior to the effective time of the Two Rivers Merger (other than shares held in treasury by Two Rivers) will be converted into and become the right to receive 1.225 shares of common stock of the Company, and cash in lieu of fractional shares, less any applicable taxes required to be withheld, and subject to certain potential adjustments. On an aggregate basis, the total consideration payable by the Company at the closing of the Two Rivers Merger to Two Rivers' shareholders and equity award holders is approximately 2,556,140 shares of Company common stock. The Two Rivers Merger is anticipated to be completed on February 28, 2026, and has been approved by the appropriate regulatory authorities and the shareholders of Two Rivers. The Company will account for the Two Rivers Merger under ASC 805, Business Combinations, upon closing.

General Litigation

General Litigation

The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operations and cash flows of the Company.

Segment Reporting

Segment Reporting

The Company operates as a single segment entity for financial reporting purposes and has adopted ASU 2023-07 during the year ended December 31, 2024. The Chief Financial and Risk Officer, Jordan Read (CFO), serves as the Company’s chief operating decision maker (CODM). The CODM allocates resources and assesses performance of the Company based on the consolidated performance, excluding all significant intercompany balances and transactions, of the Company and its wholly owned subsidiaries and does not significantly utilize disaggregated segment financial information for decision making and resource allocation. As of December 31, 2025, management has reviewed the requirements of ASU 2023-07 and has determined that no additional segment disclosures are required. Specifically,

•
the Company does not use the tracked performance on the disaggregated segment level for decision-making or resource allocation purposes,
•
no significant segment-specific expenses or performance metrics are used internally for decision-making or resource allocation purposes, and
•
the level of financial consolidation presented in these financial statements aligns with the CODM’s internal reporting and decision-making process

Based on this assessment the Company’s financial statement disclosures fully comply with ASU 2023-07, and no additional qualitative segment disclosures are necessary.
Loan

Loans

Loans are stated at the principal amount outstanding net of unearned discounts, unearned income, and the allowance for credit losses. Unearned income includes deferred loan origination fees reduced by loan origination costs and is amortized to interest income over the life of the related loan using methods that approximate the effective interest rate method. Interest on substantially all loans is credited to income based on the principal amount outstanding.

The Company’s policy is to discontinue the accrual of interest income on any loan that becomes ninety days past due as to principal or interest or earlier when, in the opinion of management there is reasonable doubt as to the timely collection of principal or interest. Nonaccrual loans are returned to accrual status when, in the opinion of management, the financial position of the borrower indicates there is no longer any reasonable doubt as to the timely collectability of interest or principal.

Loans expected to be sold are classified as held for sale in the consolidated financial statements and are recorded at the lower of aggregate cost or fair value, taking into consideration future commitments to sell the loans.
Use of Estimates

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company uses estimates and employs the judgments of management in determining the amount of its allowance for credit losses and income tax accruals and deferrals, in its fair value measurements of investment securities, and in the evaluation of impairment of loans, goodwill, investment securities, and premises and equipment. As with any estimate, actual results could differ from these estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses. In connection with the determination of the allowance for credit losses, management obtains independent appraisals for significant properties.
Fair Value Measurements

Fair Value Measurements

The fair value of a financial instrument is defined as the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The Company estimates the fair value of a financial instrument using a variety of valuation methods. Where financial instruments are actively traded and have quoted market prices, quoted market prices are used for fair value. When the financial instruments are not actively traded, other observable market inputs, such as quoted prices of securities with similar characteristics, may be used, if available, to determine fair value. When observable market prices do not exist, the Company estimates fair value. The Company’s valuation methods consider factors such as liquidity and concentration concerns. Other factors such as model assumptions, market dislocations, and unexpected correlations can affect estimates of fair value. Imprecision in estimating these factors can impact the amount of revenue or loss recorded.

At the end of each quarter, the Company assesses the valuation hierarchy for each asset or liability measured. From time to time, assets or liabilities may be transferred within hierarchy levels due to changes in availability of observable market inputs to measure fair value at the measurement date. Transfers into or out of hierarchy levels are based upon the fair value at the beginning of the reporting period. A more detailed description of the fair values measured at each level of the fair value hierarchy can be found in Note 11 – “Disclosures of Fair Values of Financial Instruments.”
Cash and Cash Equivalents and Certificates of Deposit Investments

Cash and Cash Equivalents

For purposes of reporting cash flows, cash equivalents include non-interest-bearing and interest-bearing cash and due from banks and federal funds sold. Generally, federal funds are sold for one-day periods.

Certificates of Deposit Investments

Certificates of deposit investments have original maturities of three to five years and are carried at cost.
Investment Securities

Investment Securities

The Company classifies its investments in debt securities as either held-to-maturity or available-for-sale in accordance with ASC 320. Securities classified as held-to-maturity are recorded at cost or amortized cost. Available-for-sale securities are carried at fair value. Due to the subjective nature of the valuation process, it is possible that the actual fair values of these investments could differ from the estimated amounts, thereby affecting the financial position, results of operations and cash flows of the Company.

For AFS securities, management determines whether the decline in fair value below the amortized cost basis (impairment) is due to credit-related or other factors. In making that evaluation, management considers the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value. Any impairment on AFS securities that is related to factors other than credit is recognized in other comprehensive income, net of related deferred income taxes. Credit-related impairment on AFS securities is recognized as an allowance for credit losses ("ACL") on the balance sheet based on the amount by which the amortized cost basis exceeds the fair value, with a corresponding charge to net income. Both the ACL and charge to net income may be reversed if conditions change. However, if the Company intends to sell, or more likely than not will be required to sell, an impaired AFS security before recovering its amortized cost basis, the entire impairment must be recognized in net

income with a corresponding adjustment to the security's amortized cost basis rather than through the establishment of an ACL. For HTM securities, management determines whether an ACL is necessary after considering the facts and circumstances of the underlying investment securities and evaluates expected credit losses by security type, aggregated by similar risk characteristics, based on historical credit losses adjusted for current conditions and supportable forecasts.

Allowance for Credit Losses

Allowance for Credit Losses

The Company believes the allowance for credit losses is the critical accounting policy that requires the most significant judgments and assumptions used in the preparation of its consolidated financial statements. An estimate of potential losses inherent in the loan portfolio is determined and an allowance for those losses is established by considering factors including historical loss rates, expected cash flows, and estimated collateral values. In assessing these factors, the Company uses organizational history and experience with credit decisions and related outcomes. The allowance for credit losses represents the best estimate of losses inherent in the existing loan portfolio. The allowance for credit losses is increased by the provision for credit losses charged to expense and reduced by loans charged off, net of recoveries. The Company evaluates the allowance for credit losses at least quarterly. If the underlying assumptions later prove to be inaccurate based on subsequent loss evaluations, the allowance for credit losses is adjusted.

The Company first bifurcates the loan portfolio into segments that share risk characteristics and then utilizes a DCF method to measure the ACL on loans collectively evaluated that are sub-segmented by credit risk levels. The DCF method incorporates assumptions for probability of default, loss given default, prepayments and curtailments over the contractual term of the loans. In determining the probability of default, the Company utilized regression analysis that includes the use of peer data to determine certain economic factors that are relevant loss drivers in the portfolio segments based on historical evaluations. National unemployment is a loss driver used in all portfolios.

The Company individually evaluates certain loans for impairment. A specific allowance is assigned to a loan when expected cash flows or collateral do not justify the carrying amount of the loan. Because the economic and business climate in any given industry or market, and its impact on any given borrower, can change rapidly, the risk profile of the loan portfolio is continually assessed and adjusted when appropriate. Notwithstanding these procedures, there still exists the possibility that the assessment could prove to be significantly incorrect and that an immediate adjustment to the allowance for credit losses would be required.
Premises and Equipment

Premises and Equipment

Premises, equipment, and capitalized software are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are charged to expense and determined principally by the straight-line method over the estimated useful lives of the assets. The estimated useful lives for each major depreciable classification of premises, equipment and capitalized software are as follows:

 

Buildings and improvements

20 years to 40 years

Leasehold improvements

5 years to 15 years

Furniture and equipment

3 years to 7 years

Capitalized Software

3 years to 10 years
Goodwill and Intangible Assets

Goodwill and Intangible Assets

The Company has goodwill from business combinations, identifiable intangible assets assigned to core deposit relationships and customer lists acquired, and intangible assets arising from the rights to service mortgage loans for others.

Identifiable intangible assets generally arise from branches acquired that the Company accounted for as purchases. Such assets consist of the excess of the purchase price over the fair value of net assets acquired, with specific amounts assigned to core deposit relationships and customer lists primarily related to the insurance agency and Wealth Management Company. Intangible assets are amortized by the straight-line method over various periods up to fifteen years. Management reviews intangible assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

In accordance with GAAP, the Company performed its annual testing of goodwill for impairment as of September 30, 2025 and determined that, as of that date, goodwill was not impaired. The goodwill of a reporting unit is tested for impairment between annual tests if an event occurs or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. Management also concluded that the remaining amounts and amortization periods were appropriate for all intangible assets.
Other Real Estate Owned

Other Real Estate Owned

Other real estate owned acquired through loan foreclosure is initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. The adjustment at the time of foreclosure is recorded through the allowance for credit losses. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined that fair value temporarily declines subsequent to foreclosure, a valuation allowance is recorded through non-interest expense. Operating costs associated with the assets after acquisition are also recorded as non-interest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and posted to other non-interest expense.
Bank Owned Life Insurance

Bank Owned Life Insurance

First Mid Bank has purchased life insurance policies on certain senior management. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts that are probable at settlement.
Federal Home Loan Bank Stock

Federal Home Loan Bank Stock

Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula and carried at cost. This investment is presented in other assets on the Consolidated Balance Sheet.

Income Taxes

Income Taxes

The Company and its subsidiaries file consolidated federal and state income tax returns with each organization computing its taxes on a separate company basis. Amounts provided for income tax expense are based on income reported for financial statement purposes rather than amounts currently payable under tax laws.

Deferred tax assets and liabilities are recognized for future tax consequences attributable to the temporary differences existing between the financial statement carrying amounts of assets and liabilities and their respective tax basis, as well as operating loss and tax credit carry forwards. To the extent that current available evidence about the future raises doubt about the realization of a deferred tax asset, a valuation allowance is established. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as an increase or decrease in income tax expense in the period in which such change is enacted.

In accordance with GAAP, the Company reviews its uncertain tax positions annually. An uncertain tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount actually recognized is the largest amount of tax benefit that is greater than 50% likely to be recognized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. A significant amount of judgment is applied to determine both whether the tax position meets the "more likely than not" test as well as to determine the largest amount of tax benefit that is greater than 50% likely to be recognized. Differences between the position taken by management and that of taxing authorities could result in a reduction of a tax benefit or increase to tax liability, which could adversely affect future income tax expense.
Captive Insurance Company

Captive Insurance Company

First Mid Captive, Inc. ("the Captive"), a wholly owned subsidiary of the Company which was formed and began operations in December 2019, is a Nevada- based captive insurance company. The Captive insures against certain risks unique to the operations of the Company and its subsidiaries for which insurance may not be currently available or economically feasible in today's insurance marketplace. The Captive pools resources with several other similar insurance company subsidiaries of financial institutions to spread a limited amount of risk among themselves. The Captive is subject to regulations of the State of Nevada and undergoes periodic examinations by the Nevada Division of Insurance. It has elected to be taxed under Section 831(b) of the Internal Revenue Code. Pursuant to Section 831(b), if gross premiums do not exceed $2,850,000, then the Captive is taxable solely on its investment income. The Captive is included in the Company's consolidated financial statements and its federal income return.
Wealth Management Assets

Wealth Management Assets

Assets held in fiduciary or agency capacities by First Mid Wealth Management Company are not included in the consolidated balance sheets since such items are not assets of the Company or its subsidiaries. Fees from trust activities are recorded on a cash basis over the period in which the service is provided. Fees are a function of the market value of assets managed and administered, the volume of transactions, and fees for other services rendered, as set forth in the underlying client agreement with the First Mid Wealth Management Company. This revenue recognition involves the use of estimates and assumptions, including components that are calculated based on asset valuations and transaction volumes. Any out-of-pocket expenses or services not typically covered by the fee schedule for trust activities are charged directly to the trust account on a gross basis as trust revenue is incurred. First Mid Wealth Management Company managed assets totaling $6.6 billion and $6.4 billion at December 31, 2025 and 2024, respectively.

Treasury Stock

Treasury Stock

Treasury stock is stated at cost. Cost is determined by the first-in, first-out method.
Stock Incentive Awards

Stock Incentive Awards

At the Annual Meeting of Stockholders held April 26, 2017, the stockholders approved the 2017 Stock Incentive Plan ("SI Plan"). The SI Plan was implemented to succeed the Company's 2007 Stock Incentive Plan, which had a ten-year term. At the Annual Meeting of Stockholders held on April 30, 2025, the stockholders approved amendments to the SI Plan to change the name of the plan to the 2025 Stock Incentive Plan and to extend the term of the plan to January 21, 2035. The SI Plan is intended to provide a means whereby directors, employees, consultants and advisors of the Company and its Subsidiaries may sustain a sense of

proprietorship and personal involvement in the continued development and financial success of the Company and its Subsidiaries, thereby advancing the interests of the Company and its stockholders. Accordingly, directors and selected employees, consultants and advisors may be provided the opportunity to acquire shares of Common Stock of the Company on the terms and conditions established in the SI Plan.

Following the stockholders' approval at the 2025 annual meeting of the Company, a maximum of 1 million shares of common stock may be issued under the SI Plan. The Company awarded 84,097, 80,332 and 45,986 shares during 2025, 2024, and 2023, respectively as stock and stock unit awards.
Employee Stock Purchase Plan

Employee Stock Purchase Plan

At the Annual Meeting of Stockholders held April 25, 2018, the stockholders approved the First Mid Bancshares, Inc. Employee Stock Purchase Plan (“ESPP”). The ESPP is intended to promote the interests of the Company by providing eligible employees with the opportunity to purchase shares of common stock of the Company at a 15% discount through payroll deductions. The ESPP is also intended to qualify as an employee stock purchase plan under Section 423 of the Internal Revenue Code. A maximum of 600,000 shares of common stock may be issued under the ESPP. As of December 31, 2025, 2024, and 2023, 29,313, 32,936 and 38,989 shares, respectively were issued pursuant to the ESPP. As of December 31, 2025, there were 444,023 shares unassigned but available to be issued under the ESPP.

Leases

Leases

The Company has adopted ASU 2016-02, Leases (Topic 842). As of December 31, 2025 substantially all the Company's leases are operating leases are operating leases for real estate property for bank branches, ATM locations, and office space. The Company recognizes a lease liability and a right-of-use asset, based on the present value of lease payments over the lease term. The discount rate used in determining present value was the Company's incremental borrowing rate which is the FHLB fixed advance rate based on the remaining lease term.

Revenue Recognition

Revenue Recognition

Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”), establishes a revenue recognition model for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity's contracts to provide goods or services to customers. Most of the Company’s revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as loans and investment securities, and revenue related to mortgage servicing activities, which are subject to other accounting standards. A description of the revenue-generating activities that are within the scope of ASC 606, and included in other income in the Company’s condensed consolidated statements of income are as follows:

Trust revenues. The Company generates fee income from providing fiduciary services through its trust department. Fees are billed in arrears based upon the preceding period account balance. Revenue from the farm management department is recorded when service is complete, for example when crops are sold. This revenue is included in wealth management revenues on the consolidated statement of income.

Brokerage commissions. The primary brokerage revenue is recorded at the beginning of each quarter through billing to customers based on the account asset size on the last day of the previous quarter. If a withdrawal of funds takes place, a prorated refund may occur; this is reflected within the same quarter as the original billing occurred. All performance obligations are met within the same quarter that the revenue is recorded. This revenue is included in wealth management revenues on the consolidated statement of income.

Insurance commissions. The Company’s insurance agency subsidiary, First Mid Insurance, receives commissions on premiums of new and renewed business policies. First Mid Insurance records commission revenue on direct bill policies as the cash is received. For agency bill policies, First Mid Insurance retains its commission portion of the customer premium payment and remits the balance to the carrier. In both cases, the entire performance obligation is held by the carriers.

Service charges on deposits. The Company generates revenue from fees charged for deposit account maintenance, overdrafts, wire transfers, and check fees. The revenue related to deposit fees is recognized at the time the performance obligation is satisfied.

ATM/debit card revenue. The Company generates revenue through service charges on the use of its ATM machines and interchange income from the use of Company issued credit and debit cards. The revenue is recognized at the time the service is used and the performance obligation is satisfied.

Other income. Treasury management fees and lock box fees are received and recorded after the service performance obligation is completed. Merchant bank card fees are received from various vendors; however, the performance obligation is with the vendors. The Company records gains on the sale of loans and the sale of OREO properties after the transactions are complete and transfer of ownership has occurred.

As each of the Company’s facilities are located in markets with similar economies, no disaggregation of revenue is necessary.
Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss included in stockholders’ equity as of December 31, 2025 and 2024 are as follows (in thousands):

 

 

 

Unrealized Gain

 

 

 

(Loss) on

 

 

 

Securities

 

December 31, 2025

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(138,930

)

Tax benefit

 

 

37,629

 

Balance at December 31, 2025

 

$

(101,301

)

December 31, 2024

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(194,144

)

Tax benefit

 

 

51,761

 

Balance at December 31, 2024

 

$

(142,383

)

Amounts reclassified from accumulated other comprehensive loss and the affected line items in the statements of income during the years ended December 31, 2025, 2024, and 2023, were as follows (in thousands):

 

 

 

Amounts Reclassified from Other Comprehensive Income

 

 

Affected Line Item in the

 

 

2025

 

 

2024

 

 

2023

 

 

Statements of Income

Realized gains (losses) on available-for-sale securities

 

$

(2,509

)

 

$

(433

)

 

$

3,383

 

 

Securities gains (losses), net (total reclassified amount before tax)

Income tax benefit (expense)

 

 

685

 

 

 

119

 

 

 

(981

)

 

Income taxes

Total reclassifications out of accumulated other comprehensive income

 

$

(1,824

)

 

$

(314

)

 

$

2,402

 

 

Net reclassified amount

See “Note 4 – Investment Securities” for more detailed information regarding unrealized losses on available-for-sale securities.
New Accounting Pronouncements

New Accounting Pronouncements

In November 2025, the Financial Accounting Standards Board (FASB) published Accounting Standards Update (ASU) 2025-08, Financial Instruments Credit Losses (Topic 326): Purchased Loans (ASU 2025-08). The update was published with the intent to eliminate the current expected credit loss (CECL) “double
count” on non Purchase Credit Deteriorated (PCD) Loans. The update accomplishes this through using “gross up” methodology that is similar to the methodology used
on PCD Loans. In the new method all “purchased seasoned loans” are grossed up for the Allowance of Credit Losses (ACL) expected on the loans. Purchased
seasoned loans are defined as either:

•
a loan that is obtained through a business combination accounted for using the acquisition method (most common for the Company)
•
a loan obtained through a transfer that is a not a business combination accounted for using the acquisition method or initially recognized through the
consolidation of a variable interest entity and these loans must meet both of following criteria:
•
the loan is obtained more than 90 days after its origination date; and
•
the acquirer was not involved in the loan’s origination

The Company plans to adopt this standard prospectively as of January 1, 2026.

In December 2023, the Financial Accounting Standards Board issued ASU No. 2023-09, Income Tax (Topic 740): Improvements to Income Tax Disclosures. The amendments expand the disclosure requirements of income taxes, primarily related to the income tax rate reconciliation and income taxes paid with the intention to enhance transparency and decision usefulness of income tax disclosures. The amendments were effective for fiscal years beginning after December 15, 2024. Early adoption was permitted and not implemented by the Company. The adoption of this accounting pronouncement had no impact on the Financial Statements aside from additional disclosures presented in Note 15.

v3.25.4
Basis of Accounting and Consolidation (Tables)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Estimated Useful Lives for Major Depreciable Classification of Premises and Equipment

Buildings and improvements

20 years to 40 years

Leasehold improvements

5 years to 15 years

Furniture and equipment

3 years to 7 years

Capitalized Software

3 years to 10 years
Schedule of Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss included in stockholders’ equity as of December 31, 2025 and 2024 are as follows (in thousands):

 

 

 

Unrealized Gain

 

 

 

(Loss) on

 

 

 

Securities

 

December 31, 2025

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(138,930

)

Tax benefit

 

 

37,629

 

Balance at December 31, 2025

 

$

(101,301

)

December 31, 2024

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(194,144

)

Tax benefit

 

 

51,761

 

Balance at December 31, 2024

 

$

(142,383

)
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss

Amounts reclassified from accumulated other comprehensive loss and the affected line items in the statements of income during the years ended December 31, 2025, 2024, and 2023, were as follows (in thousands):

 

 

 

Amounts Reclassified from Other Comprehensive Income

 

 

Affected Line Item in the

 

 

2025

 

 

2024

 

 

2023

 

 

Statements of Income

Realized gains (losses) on available-for-sale securities

 

$

(2,509

)

 

$

(433

)

 

$

3,383

 

 

Securities gains (losses), net (total reclassified amount before tax)

Income tax benefit (expense)

 

 

685

 

 

 

119

 

 

 

(981

)

 

Income taxes

Total reclassifications out of accumulated other comprehensive income

 

$

(1,824

)

 

$

(314

)

 

$

2,402

 

 

Net reclassified amount
v3.25.4
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Components of Basic and Diluted Net Income per Common Share

The components of basic and diluted net income per common share available to common stockholders for the years ended December 31, 2025, 2024, and 2023 were as follows:

 

 

 

2025

 

 

2024

 

 

2023

 

Basic net income per common share available to common stockholders:

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

 

$

91,749,000

 

 

$

78,898,000

 

 

$

68,935,000

 

Weighted average common shares outstanding

 

 

23,873,495

 

 

 

23,800,523

 

 

 

21,780,217

 

Basic earnings per common share

 

$

3.84

 

 

$

3.31

 

 

$

3.17

 

Diluted net income per common share available to common stockholders:

 

 

 

 

 

 

 

 

 

Net income available to common stockholders

 

$

91,749,000

 

 

$

78,898,000

 

 

$

68,935,000

 

Weighted average common shares outstanding

 

 

23,873,495

 

 

 

23,800,523

 

 

 

21,780,217

 

Dilutive potential common shares:

 

 

 

 

 

 

 

 

 

Restricted stock awarded

 

 

113,013

 

 

 

95,158

 

 

 

88,571

 

Dilutive potential common shares

 

 

113,013

 

 

 

95,158

 

 

 

88,571

 

Diluted weighted average common shares outstanding

 

 

23,986,508

 

 

 

23,895,681

 

 

 

21,868,788

 

Diluted earnings per common share

 

$

3.83

 

 

$

3.30

 

 

$

3.15

 
v3.25.4
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Available for Sale and Held for Maturity Securities

The amortized cost, gross unrealized gains and losses and estimated fair values for available-for-sale and held-to-maturity securities by major security type at December 31, 2025 and 2024 were as follows (in thousands):

 

 

 

 

 

 

Gross

 

 

Gross

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

 

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Fair Value

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

153,859

 

 

$

3

 

 

$

(9,782

)

 

$

144,080

 

Obligations of states and political subdivisions

 

 

327,950

 

 

 

341

 

 

 

(47,658

)

 

 

280,633

 

Mortgage-backed securities (1)

 

 

705,728

 

 

 

2,458

 

 

 

(83,520

)

 

 

624,666

 

Corporate bonded debt

 

 

28,276

 

 

 

—

 

 

 

(772

)

 

 

27,504

 

Total available-for-sale

 

$

1,215,813

 

 

$

2,802

 

 

$

(141,732

)

 

$

1,076,883

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Other securities

 

$

2,288

 

 

$

—

 

 

$

—

 

 

$

2,288

 

Total held-to-maturity

 

$

2,288

 

 

$

—

 

 

$

—

 

 

$

2,288

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

212,513

 

 

$

3

 

 

$

(21,158

)

 

$

191,358

 

Obligations of states and political subdivisions

 

 

324,046

 

 

 

135

 

 

 

(56,441

)

 

 

267,740

 

Mortgage-backed securities (1)

 

 

653,760

 

 

 

552

 

 

 

(114,570

)

 

 

539,742

 

Corporate bonded debt

 

 

67,117

 

 

 

—

 

 

 

(2,665

)

 

 

64,452

 

Total available-for-sale

 

$

1,257,436

 

 

$

690

 

 

$

(194,834

)

 

$

1,063,292

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Other securities

 

$

2,279

 

 

$

—

 

 

$

—

 

 

$

2,279

 

Total held-to-maturity

 

$

2,279

 

 

$

—

 

 

$

—

 

 

$

2,279

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Mortgage-backed securities include mortgage-backed securities (MBS) and collateralized mortgage obligation (CMO) issues from the following government sponsored enterprises: FHLMC, FNMA, GNMA and FHLB.

 
Proceeds From Sales of Available for Sale Investment Securities, Realized Gains and Losses and Income Tax Expense

Proceeds from sales of available-for-sale investment securities, realized gains and losses and income tax expense were as follows during the years ended December 31, 2025, 2024, and 2023 (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Proceeds from sales

 

$

51,694

 

 

$

32,338

 

 

$

343,610

 

Gross gains

 

 

2

 

 

 

46

 

 

 

4,381

 

Gross losses

 

 

(2,511

)

 

 

(479

)

 

 

(998

)

Income tax benefit (expense)

 

 

685

 

 

 

119

 

 

 

(981

)
Fair Value of Investments with Sustained Gross Unrealized Losses

The following table presents the aging of gross unrealized losses and fair value by investment category as of December 31, 2025 and 2024 (in thousands):

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

 

Value

 

 

Losses

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

—

 

 

$

—

 

 

$

142,833

 

 

$

(9,782

)

 

$

142,833

 

 

$

(9,782

)

Obligations of states and political subdivisions

 

 

5,923

 

 

 

(8

)

 

 

246,076

 

 

 

(47,650

)

 

 

251,999

 

 

 

(47,658

)

Mortgage-backed securities (1)

 

 

11,327

 

 

 

(102

)

 

 

480,583

 

 

 

(83,418

)

 

 

491,910

 

 

 

(83,520

)

Corporate bonded debt

 

 

3,967

 

 

 

(33

)

 

 

19,203

 

 

 

(739

)

 

 

23,170

 

 

 

(772

)

Total

 

$

21,217

 

 

$

(143

)

 

$

888,695

 

 

$

(141,589

)

 

$

909,912

 

 

$

(141,732

)

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

1,340

 

 

$

—

 

 

$

189,327

 

 

$

(21,158

)

 

$

190,667

 

 

$

(21,158

)

Obligations of states and political subdivisions

 

 

20,349

 

 

 

(1,248

)

 

 

241,502

 

 

 

(55,193

)

 

 

261,851

 

 

 

(56,441

)

Mortgage-backed securities (1)

 

 

1,135

 

 

 

(18

)

 

 

511,746

 

 

 

(114,552

)

 

 

512,881

 

 

 

(114,570

)

Corporate bonded debt

 

 

—

 

 

 

—

 

 

 

58,702

 

 

 

(2,665

)

 

 

58,702

 

 

 

(2,665

)

Total

 

$

22,824

 

 

$

(1,266

)

 

$

1,001,277

 

 

$

(193,568

)

 

$

1,024,101

 

 

$

(194,834

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Mortgage-backed securities include mortgage-backed securities (MBS) and collateralized mortgage obligation (CMO) issues from the following government sponsored enterprises: FHLMC, FNMA, GNMA and FHLB.

 
Maturities of Investment Securities

Maturities of investment securities were as follows at December 31, 2025 (in thousands):

 

 

 

Amortized

 

 

Estimated

 

 

 

Cost

 

 

Fair Value

 

Available-for-sale:

 

 

 

 

 

 

Due in one year or less

 

$

216,897

 

 

$

203,803

 

Due in one-five years

 

 

285,112

 

 

 

240,360

 

Due in five-ten years

 

 

7,696

 

 

 

7,713

 

Due after ten years

 

 

380

 

 

 

341

 

 

 

510,085

 

 

 

452,217

 

Mortgage-backed securities (1)

 

 

705,728

 

 

 

624,666

 

Total available-for-sale

 

$

1,215,813

 

 

$

1,076,883

 

Held-to-maturity:

 

 

 

 

 

 

Due after ten years

 

 

2,288

 

 

 

2,288

 

Total held-to-maturity

 

$

2,288

 

 

$

2,288

 

 

 

 

 

 

 

 

(1) Mortgage-backed securities include mortgage-backed securities (MBS) and collateralized mortgage obligation (CMO) issues from the following government sponsored enterprises: FHLMC, FNMA, GNMA and FHLB.

 
v3.25.4
Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Summary of Loans A summary of loans at December 31, 2025 and 2024 follows (in thousands):

 

 

 

2025

 

 

2024

 

Construction and land development

 

$

361,678

 

 

$

236,258

 

Agricultural real estate

 

 

374,143

 

 

 

391,436

 

1-4 family residential properties

 

 

494,258

 

 

 

502,243

 

Multifamily residential properties

 

 

340,324

 

 

 

334,032

 

Commercial real estate

 

 

2,582,404

 

 

 

2,442,627

 

Loans secured by real estate

 

 

4,152,807

 

 

 

3,906,596

 

Agricultural loans

 

 

307,290

 

 

 

239,138

 

Commercial and industrial loans

 

 

1,385,421

 

 

 

1,340,865

 

Consumer loans

 

 

32,109

 

 

 

54,481

 

All other loans

 

 

161,604

 

 

 

169,232

 

Total gross loans

 

 

6,039,231

 

 

 

5,710,312

 

Less: loans held for sale

 

 

5,203

 

 

 

6,614

 

Total gross loans held for investment

 

 

6,034,028

 

 

 

5,703,698

 

Less:

 

 

 

 

 

 

Net deferred loan fees, premiums and discounts

 

 

27,857

 

 

 

37,850

 

Allowance for credit losses

 

 

74,875

 

 

 

70,182

 

Net loans

 

$

5,931,296

 

 

$

5,595,666

 
Summary of Gross Commercial Real Estate Loans by Property Type

The following table represents the gross commercial real estate loans by property type as of December 31, 2025 (in thousands):

 

 

 

December 31, 2025

 

Commercial real estate

 

 

 

Owner occupied

 

$

747,512

 

Non owner occupied

 

 

 

Shopping centers and malls

 

 

264,961

 

Industrial and warehouse

 

 

237,522

 

Hotels and motels

 

 

218,073

 

Skilled nursing facility

 

 

187,875

 

Assisted living facility

 

 

170,733

 

Office

 

 

160,524

 

Retail

 

 

112,169

 

RV parks and campgrounds

 

 

104,267

 

Other property types

 

 

378,768

 

Total commercial real estate

 

$

2,582,404

 
Allowance for Credit Losses Based on Portfolio Segment

The following tables present the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2025, 2024, and 2023 (in thousands):

 

 

 

Construction
and Land
Development

 

 

Agricultural
Real Estate

 

 

1-4 Family
Residential
Properties

 

 

Commercial
Real Estate

 

 

Agricultural
Loans

 

 

Commercial
and
Industrial

 

 

Consumer
Loans

 

 

Total

 

Twelve months ended December 31, 2025

 

Beginning Balance

 

$

3,275

 

 

$

1,361

 

 

$

3,579

 

 

$

32,669

 

 

$

1,957

 

 

$

25,602

 

 

$

1,739

 

 

$

70,182

 

Initial allowance on loans purchased with credit deterioration

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provision for credit loss expense

 

 

1,961

 

 

 

(131

)

 

 

66

 

 

 

4,003

 

 

 

925

 

 

 

2,582

 

 

 

515

 

 

 

9,921

 

Loans charged off

 

 

107

 

 

 

—

 

 

 

156

 

 

 

1,197

 

 

 

2,503

 

 

 

2,485

 

 

 

1,425

 

 

 

7,873

 

Recoveries collected

 

 

—

 

 

 

53

 

 

 

264

 

 

 

114

 

 

 

1,022

 

 

 

586

 

 

 

606

 

 

 

2,645

 

Ending balance

 

$

5,129

 

 

$

1,283

 

 

$

3,753

 

 

$

35,589

 

 

$

1,401

 

 

$

26,285

 

 

$

1,435

 

 

$

74,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended December 31, 2024

 

Beginning Balance

 

$

2,918

 

 

$

1,366

 

 

$

4,220

 

 

$

31,758

 

 

$

705

 

 

$

25,450

 

 

$

2,258

 

 

$

68,675

 

Initial allowance on loans purchased with credit deterioration

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provision for credit loss expense

 

 

352

 

 

 

(5

)

 

 

(785

)

 

 

1,178

 

 

 

3,587

 

 

 

510

 

 

 

798

 

 

 

5,635

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

195

 

 

 

451

 

 

 

2,410

 

 

 

688

 

 

 

2,004

 

 

 

5,748

 

Recoveries collected

 

 

5

 

 

 

—

 

 

 

339

 

 

 

184

 

 

 

75

 

 

 

330

 

 

 

687

 

 

 

1,620

 

Ending balance

 

$

3,275

 

 

$

1,361

 

 

$

3,579

 

 

$

32,669

 

 

$

1,957

 

 

$

25,602

 

 

$

1,739

 

 

$

70,182

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended December 31, 2023

 

Beginning Balance

 

$

2,250

 

 

$

1,433

 

 

$

3,742

 

 

$

28,157

 

 

$

585

 

 

$

20,808

 

 

$

2,118

 

 

$

59,093

 

Initial allowance on loans purchased with credit deterioration

 

 

308

 

 

 

—

 

 

 

124

 

 

 

1,066

 

 

 

—

 

 

 

2,273

 

 

 

20

 

 

 

3,791

 

Provision for credit loss expense

 

 

374

 

 

 

(67

)

 

 

225

 

 

 

1,755

 

 

 

490

 

 

 

2,322

 

 

 

1,005

 

 

 

6,104

 

Loans charged off

 

 

14

 

 

 

—

 

 

 

87

 

 

 

25

 

 

 

408

 

 

 

529

 

 

 

1,568

 

 

 

2,631

 

Recoveries collected

 

 

—

 

 

 

—

 

 

 

216

 

 

 

805

 

 

 

38

 

 

 

576

 

 

 

683

 

 

 

2,318

 

Ending balance

 

$

2,918

 

 

$

1,366

 

 

$

4,220

 

 

$

31,758

 

 

$

705

 

 

$

25,450

 

 

$

2,258

 

 

$

68,675

 
Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans Individually Evaluated

The following table presents the amortized cost basis of collateral-dependent loans by class of loans that were individually evaluated to determine expected credit losses, and the related allowance for credit losses, as of December 31, 2025 and 2024 (in thousands):

 

 

 

Collateral

 

 

Allowance

 

 

 

Real Estate

 

 

Business
Assets

 

 

Other

 

 

Total

 

 

for Credit
Losses

 

Twelve months ended December 31, 2025

 

Agricultural real estate

 

$

111

 

 

 

—

 

 

 

—

 

 

$

111

 

 

 

—

 

1-4 family residential properties

 

 

600

 

 

 

—

 

 

 

—

 

 

 

600

 

 

 

—

 

Multifamily residential properties

 

 

371

 

 

 

—

 

 

 

—

 

 

 

371

 

 

 

—

 

Commercial real estate

 

 

30,208

 

 

 

—

 

 

 

—

 

 

 

30,208

 

 

 

13

 

Loans secured by real estate

 

 

31,290

 

 

 

—

 

 

 

—

 

 

 

31,290

 

 

 

13

 

Commercial and industrial loans

 

 

—

 

 

 

7,123

 

 

 

29

 

 

 

7,152

 

 

 

392

 

All other loans

 

 

—

 

 

 

11,184

 

 

 

—

 

 

 

11,184

 

 

 

84

 

Total loans

 

$

31,290

 

 

$

18,307

 

 

$

29

 

 

$

49,626

 

 

$

489

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended December 31, 2024

 

Agricultural real estate

 

$

1,107

 

 

 

—

 

 

 

—

 

 

$

1,107

 

 

 

—

 

1-4 family residential properties

 

 

360

 

 

 

—

 

 

 

—

 

 

 

360

 

 

 

—

 

Multifamily residential properties

 

 

895

 

 

 

—

 

 

 

—

 

 

 

895

 

 

 

—

 

Commercial real estate

 

 

4,430

 

 

 

—

 

 

 

—

 

 

 

4,430

 

 

 

196

 

Loans secured by real estate

 

 

6,792

 

 

 

—

 

 

 

—

 

 

 

6,792

 

 

 

196

 

Agricultural loans

 

 

600

 

 

 

9,526

 

 

 

—

 

 

 

10,126

 

 

 

788

 

Commercial and industrial loans

 

 

57

 

 

 

1,234

 

 

 

—

 

 

 

1,291

 

 

 

260

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total loans

 

$

7,449

 

 

$

10,760

 

 

$

—

 

 

$

18,209

 

 

$

1,244

 
Credit Risk Profile of Loan Portfolio Based on Risk Rating Category and Payment Activity The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of December 31, 2025 and 2024 (in thousands):

 

 

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Loans

 

 

Total

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development loans

 

Pass

 

$

114,696

 

 

$

99,757

 

 

$

119,602

 

 

$

5,167

 

 

$

6,048

 

 

$

14,659

 

 

$

—

 

 

$

359,929

 

Special mention

 

 

—

 

 

 

—

 

 

 

398

 

 

 

—

 

 

 

—

 

 

 

348

 

 

 

—

 

 

 

746

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

—

 

 

 

7

 

 

 

—

 

 

 

12

 

Total

 

$

114,696

 

 

$

99,757

 

 

$

120,000

 

 

$

5,172

 

 

$

6,048

 

 

$

15,014

 

 

$

—

 

 

$

360,687

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

107

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

107

 

Agricultural real estate loans

 

Pass

 

$

42,758

 

 

$

22,040

 

 

$

12,609

 

 

$

107,950

 

 

$

61,357

 

 

$

87,939

 

 

$

—

 

 

$

334,653

 

Special mention

 

 

228

 

 

 

339

 

 

 

806

 

 

 

22,343

 

 

 

1,331

 

 

 

7,810

 

 

 

—

 

 

 

32,857

 

Substandard

 

 

598

 

 

 

194

 

 

 

—

 

 

 

224

 

 

 

392

 

 

 

4,490

 

 

 

—

 

 

 

5,898

 

Total

 

$

43,584

 

 

$

22,573

 

 

$

13,415

 

 

$

130,517

 

 

$

63,080

 

 

$

100,239

 

 

$

—

 

 

$

373,408

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

1-4 family residential property loans

 

Pass

 

$

54,180

 

 

$

31,041

 

 

$

28,668

 

 

$

62,974

 

 

$

64,512

 

 

$

144,475

 

 

$

92,629

 

 

$

478,479

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

185

 

 

 

93

 

 

 

760

 

 

 

—

 

 

 

1,038

 

Substandard

 

 

127

 

 

 

529

 

 

 

584

 

 

 

624

 

 

 

670

 

 

 

6,946

 

 

 

857

 

 

 

10,337

 

Total

 

$

54,307

 

 

$

31,570

 

 

$

29,252

 

 

$

63,783

 

 

$

65,275

 

 

$

152,181

 

 

$

93,486

 

 

$

489,854

 

Current period gross writeoffs

 

$

—

 

 

$

12

 

 

$

9

 

 

$

—

 

 

$

—

 

 

$

135

 

 

$

—

 

 

$

156

 

Commercial real estate loans

 

Pass

 

$

459,831

 

 

$

217,098

 

 

$

157,923

 

 

$

597,491

 

 

$

498,456

 

 

$

916,195

 

 

$

—

 

 

$

2,846,994

 

Special mention

 

 

—

 

 

 

371

 

 

 

1,150

 

 

 

12,931

 

 

 

248

 

 

 

4,760

 

 

 

—

 

 

 

19,460

 

Substandard

 

 

—

 

 

 

5,000

 

 

 

15,295

 

 

 

6,246

 

 

 

2,394

 

 

 

8,763

 

 

 

—

 

 

 

37,698

 

Total

 

$

459,831

 

 

$

222,469

 

 

$

174,368

 

 

$

616,668

 

 

$

501,098

 

 

$

929,718

 

 

$

—

 

 

$

2,904,152

 

Current period gross writeoffs

 

$

—

 

 

$

699

 

 

$

—

 

 

$

391

 

 

$

—

 

 

$

107

 

 

$

—

 

 

$

1,197

 

Agricultural loans

 

Pass

 

$

230,666

 

 

$

45,361

 

 

$

7,684

 

 

$

10,151

 

 

$

6,363

 

 

$

2,560

 

 

$

—

 

 

$

302,785

 

Special mention

 

 

1,209

 

 

 

76

 

 

 

11

 

 

 

—

 

 

 

23

 

 

 

—

 

 

 

—

 

 

 

1,319

 

Substandard

 

 

451

 

 

 

367

 

 

 

2,484

 

 

 

845

 

 

 

24

 

 

 

—

 

 

 

—

 

 

 

4,171

 

Total

 

$

232,326

 

 

$

45,804

 

 

$

10,179

 

 

$

10,996

 

 

$

6,410

 

 

$

2,560

 

 

$

—

 

 

$

308,275

 

Current period gross writeoffs

 

$

—

 

 

$

280

 

 

$

1,081

 

 

$

836

 

 

$

306

 

 

$

—

 

 

$

—

 

 

$

2,503

 

Commercial and industrial loans

 

Pass

 

$

431,942

 

 

$

214,908

 

 

$

82,977

 

 

$

210,658

 

 

$

159,029

 

 

$

357,077

 

 

$

—

 

 

$

1,456,591

 

Special mention

 

 

19,409

 

 

 

8,898

 

 

 

2,542

 

 

 

7,965

 

 

 

61

 

 

 

26,193

 

 

 

—

 

 

 

65,068

 

Substandard

 

 

—

 

 

 

1,397

 

 

 

2,180

 

 

 

1,008

 

 

 

219

 

 

 

16,617

 

 

 

—

 

 

 

21,421

 

Total

 

$

451,351

 

 

$

225,203

 

 

$

87,699

 

 

$

219,631

 

 

$

159,309

 

 

$

399,887

 

 

$

—

 

 

$

1,543,080

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

163

 

 

$

225

 

 

$

497

 

 

$

1,600

 

 

$

—

 

 

$

2,485

 

Consumer loans

 

Pass

 

$

5,619

 

 

$

2,555

 

 

$

2,812

 

 

$

12,861

 

 

$

5,511

 

 

$

2,119

 

 

$

—

 

 

$

31,477

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

22

 

Substandard

 

 

—

 

 

 

30

 

 

 

9

 

 

 

171

 

 

 

132

 

 

 

77

 

 

 

—

 

 

 

419

 

Total

 

$

5,619

 

 

$

2,585

 

 

$

2,821

 

 

$

13,054

 

 

$

5,643

 

 

$

2,196

 

 

$

—

 

 

$

31,918

 

Current period gross writeoffs

 

$

5

 

 

$

23

 

 

$

27

 

 

$

99

 

 

$

43

 

 

$

1,228

 

 

$

—

 

 

$

1,425

 

Total loans

 

Pass

 

$

1,339,692

 

 

$

632,760

 

 

$

412,275

 

 

$

1,007,252

 

 

$

801,276

 

 

$

1,525,024

 

 

$

92,629

 

 

$

5,810,908

 

Special mention

 

 

20,846

 

 

 

9,684

 

 

 

4,907

 

 

 

43,446

 

 

 

1,756

 

 

 

39,871

 

 

 

—

 

 

 

120,510

 

Substandard

 

 

1,176

 

 

 

7,517

 

 

 

20,552

 

 

 

9,123

 

 

 

3,831

 

 

 

36,900

 

 

 

857

 

 

 

79,956

 

Total

 

$

1,361,714

 

 

$

649,961

 

 

$

437,734

 

 

$

1,059,821

 

 

$

806,863

 

 

$

1,601,795

 

 

$

93,486

 

 

$

6,011,374

 

Current period gross writeoffs

 

$

5

 

 

$

1,014

 

 

$

1,387

 

 

$

1,551

 

 

$

846

 

 

$

3,070

 

 

$

—

 

 

$

7,873

 

 

 

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Loans

 

 

Total

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development loans

 

Pass

 

$

82,696

 

 

$

101,715

 

 

$

14,390

 

 

$

15,817

 

 

$

4,735

 

 

$

16,342

 

 

$

—

 

 

$

235,695

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

382

 

 

 

—

 

 

 

382

 

Substandard

 

 

—

 

 

 

—

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

10

 

 

 

—

 

 

 

16

 

Total

 

$

82,696

 

 

$

101,715

 

 

$

14,396

 

 

$

15,817

 

 

$

4,735

 

 

$

16,734

 

 

$

—

 

 

$

236,093

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Agricultural real estate loans

 

Pass

 

$

25,824

 

 

$

17,292

 

 

$

159,433

 

 

$

55,083

 

 

$

48,700

 

 

$

73,592

 

 

$

—

 

 

$

379,924

 

Special mention

 

 

—

 

 

 

192

 

 

 

107

 

 

 

986

 

 

 

1,755

 

 

 

5,630

 

 

 

—

 

 

 

8,670

 

Substandard

 

 

—

 

 

 

141

 

 

 

966

 

 

 

—

 

 

 

—

 

 

 

1,059

 

 

 

—

 

 

 

2,166

 

Total

 

$

25,824

 

 

$

17,625

 

 

$

160,506

 

 

$

56,069

 

 

$

50,455

 

 

$

80,281

 

 

$

—

 

 

$

390,760

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

1-4 family residential property loans

 

Pass

 

$

46,350

 

 

$

36,454

 

 

$

74,580

 

 

$

75,325

 

 

$

61,936

 

 

$

110,348

 

 

$

79,714

 

 

$

484,707

 

Special mention

 

 

175

 

 

 

—

 

 

 

204

 

 

 

326

 

 

 

—

 

 

 

577

 

 

 

59

 

 

 

1,341

 

Substandard

 

 

174

 

 

 

672

 

 

 

916

 

 

 

737

 

 

 

557

 

 

 

6,875

 

 

 

618

 

 

 

10,549

 

Total

 

$

46,699

 

 

$

37,126

 

 

$

75,700

 

 

$

76,388

 

 

$

62,493

 

 

$

117,800

 

 

$

80,391

 

 

$

496,597

 

Current period gross writeoffs

 

$

—

 

 

$

46

 

 

$

13

 

 

$

33

 

 

$

—

 

 

$

103

 

 

$

—

 

 

$

195

 

Commercial real estate loans

 

Pass

 

$

216,297

 

 

$

213,704

 

 

$

680,665

 

 

$

535,056

 

 

$

289,855

 

 

$

774,516

 

 

$

—

 

 

$

2,710,093

 

Special mention

 

 

659

 

 

 

13,732

 

 

 

4,090

 

 

 

2,053

 

 

 

713

 

 

 

10,462

 

 

 

—

 

 

 

31,709

 

Substandard

 

 

—

 

 

 

49

 

 

 

3,844

 

 

 

467

 

 

 

—

 

 

 

4,067

 

 

 

—

 

 

 

8,427

 

Total

 

$

216,956

 

 

$

227,485

 

 

$

688,599

 

 

$

537,576

 

 

$

290,568

 

 

$

789,045

 

 

$

—

 

 

$

2,750,229

 

Current period gross writeoffs

 

$

—

 

 

$

—

 

 

$

151

 

 

$

—

 

 

$

—

 

 

$

300

 

 

$

—

 

 

$

451

 

Agricultural loans

 

Pass

 

$

175,402

 

 

$

24,024

 

 

$

13,147

 

 

$

9,162

 

 

$

1,585

 

 

$

2,306

 

 

$

—

 

 

$

225,626

 

Special mention

 

 

617

 

 

 

2,208

 

 

 

976

 

 

 

100

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,901

 

Substandard

 

 

843

 

 

 

7,092

 

 

 

2,209

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10,144

 

Total

 

$

176,862

 

 

$

33,324

 

 

$

16,332

 

 

$

9,262

 

 

$

1,585

 

 

$

2,306

 

 

$

—

 

 

$

239,671

 

Current period gross writeoffs

 

$

—

 

 

$

2,213

 

 

$

100

 

 

$

52

 

 

$

—

 

 

$

45

 

 

$

—

 

 

$

2,410

 

Commercial and industrial loans

 

Pass

 

$

307,785

 

 

$

228,411

 

 

$

278,845

 

 

$

183,042

 

 

$

131,005

 

 

$

360,610

 

 

$

—

 

 

$

1,489,698

 

Special mention

 

 

54

 

 

 

1,149

 

 

 

1,277

 

 

 

748

 

 

 

1,020

 

 

 

7,583

 

 

 

—

 

 

 

11,831

 

Substandard

 

 

65

 

 

 

1,410

 

 

 

789

 

 

 

446

 

 

 

98

 

 

 

815

 

 

 

—

 

 

 

3,623

 

Total

 

$

307,904

 

 

$

230,970

 

 

$

280,911

 

 

$

184,236

 

 

$

132,123

 

 

$

369,008

 

 

$

—

 

 

$

1,505,152

 

Current period gross writeoffs

 

$

10

 

 

$

47

 

 

$

207

 

 

$

378

 

 

$

10

 

 

$

36

 

 

$

—

 

 

$

688

 

Consumer loans

 

Pass

 

$

5,098

 

 

$

5,138

 

 

$

24,430

 

 

$

11,810

 

 

$

4,494

 

 

$

2,385

 

 

$

—

 

 

$

53,355

 

Special mention

 

 

—

 

 

 

—

 

 

 

14

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14

 

Substandard

 

 

12

 

 

 

21

 

 

 

259

 

 

 

216

 

 

 

54

 

 

 

29

 

 

 

—

 

 

 

591

 

Total

 

$

5,110

 

 

$

5,159

 

 

$

24,703

 

 

$

12,026

 

 

$

4,548

 

 

$

2,414

 

 

$

—

 

 

$

53,960

 

Current period gross writeoffs

 

$

98

 

 

$

63

 

 

$

154

 

 

$

139

 

 

$

59

 

 

$

1,491

 

 

$

—

 

 

$

2,004

 

Total loans

 

Pass

 

$

859,452

 

 

$

626,738

 

 

$

1,245,490

 

 

$

885,295

 

 

$

542,310

 

 

$

1,340,099

 

 

$

79,714

 

 

$

5,579,098

 

Special mention

 

 

1,505

 

 

 

17,281

 

 

 

6,668

 

 

 

4,213

 

 

 

3,488

 

 

 

24,634

 

 

 

59

 

 

 

57,848

 

Substandard

 

 

1,094

 

 

 

9,385

 

 

 

8,989

 

 

 

1,866

 

 

 

709

 

 

 

12,855

 

 

 

618

 

 

 

35,516

 

Total

 

$

862,051

 

 

$

653,404

 

 

$

1,261,147

 

 

$

891,374

 

 

$

546,507

 

 

$

1,377,588

 

 

$

80,391

 

 

$

5,672,462

 

Current period gross writeoffs

 

$

108

 

 

$

2,369

 

 

$

625

 

 

$

602

 

 

$

69

 

 

$

1,975

 

 

$

—

 

 

$

5,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Loan Portfolio, on Amortized Cost Basis, Aging Analysis

The following table presents the Company’s loan portfolio, on an amortized cost basis, aging analysis at December 31, 2025 and 2024 (dollars in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

90 Days

 

 

 

 

 

 

 

 

 

 

 

Loans > 90

 

 

 

30-59 days

 

 

60-89 days

 

 

or More

 

 

Total

 

 

 

 

 

Total Loans

 

 

days and

 

 

 

Past Due

 

 

Past Due

 

 

Past Due

 

 

Past Due

 

 

Current

 

 

Receivable

 

 

Accruing

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

360,687

 

 

$

360,687

 

 

$

—

 

Agricultural real estate

 

 

—

 

 

 

—

 

 

 

841

 

 

 

841

 

 

 

372,567

 

 

 

373,408

 

 

 

—

 

1-4 family residential properties

 

 

4,725

 

 

 

1,630

 

 

 

1,687

 

 

 

8,042

 

 

 

481,812

 

 

 

489,854

 

 

 

—

 

Multifamily residential properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

339,482

 

 

 

339,482

 

 

 

—

 

Commercial real estate

 

 

712

 

 

 

228

 

 

 

5,671

 

 

 

6,611

 

 

 

2,558,059

 

 

 

2,564,670

 

 

 

—

 

Loans secured by real estate

 

 

5,437

 

 

 

1,858

 

 

 

8,199

 

 

 

15,494

 

 

 

4,112,607

 

 

 

4,128,101

 

 

 

—

 

Agricultural loans

 

 

—

 

 

 

19

 

 

 

—

 

 

 

19

 

 

 

308,256

 

 

 

308,275

 

 

 

—

 

Commercial and industrial loans

 

 

414

 

 

 

205

 

 

 

904

 

 

 

1,523

 

 

 

1,380,075

 

 

 

1,381,598

 

 

 

—

 

Consumer loans

 

 

329

 

 

 

44

 

 

 

111

 

 

 

484

 

 

 

31,434

 

 

 

31,918

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

161,482

 

 

 

161,482

 

 

 

—

 

Total loans

 

$

6,180

 

 

$

2,126

 

 

$

9,214

 

 

$

17,520

 

 

$

5,993,854

 

 

$

6,011,374

 

 

$

—

 

Percent of total loans

 

 

 

 

 

 

 

 

 

 

 

0.29

%

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

6

 

 

$

—

 

 

$

—

 

 

$

6

 

 

$

236,087

 

 

$

236,093

 

 

$

—

 

Agricultural real estate

 

 

—

 

 

 

—

 

 

 

533

 

 

 

533

 

 

 

390,227

 

 

 

390,760

 

 

 

—

 

1-4 family residential properties

 

 

2,209

 

 

 

931

 

 

 

2,089

 

 

 

5,229

 

 

 

491,368

 

 

 

496,597

 

 

 

—

 

Multifamily residential properties

 

 

—

 

 

 

—

 

 

 

472

 

 

 

472

 

 

 

332,172

 

 

 

332,644

 

 

 

—

 

Commercial real estate

 

 

595

 

 

 

553

 

 

 

344

 

 

 

1,492

 

 

 

2,416,093

 

 

 

2,417,585

 

 

 

—

 

Loans secured by real estate

 

 

2,810

 

 

 

1,484

 

 

 

3,438

 

 

 

7,732

 

 

 

3,865,947

 

 

 

3,873,679

 

 

 

—

 

Agricultural loans

 

 

550

 

 

 

—

 

 

 

1,289

 

 

 

1,839

 

 

 

237,832

 

 

 

239,671

 

 

 

—

 

Commercial and industrial loans

 

 

337

 

 

 

89

 

 

 

463

 

 

 

889

 

 

 

1,335,031

 

 

 

1,335,920

 

 

 

—

 

Consumer loans

 

 

442

 

 

 

48

 

 

 

111

 

 

 

601

 

 

 

53,359

 

 

 

53,960

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

169,232

 

 

 

169,232

 

 

 

—

 

Total loans

 

$

4,139

 

 

$

1,621

 

 

$

5,301

 

 

$

11,061

 

 

$

5,661,401

 

 

$

5,672,462

 

 

$

—

 

Percent of total loans

 

 

 

 

 

 

 

 

 

 

 

0.19

%

 

 

 

 

 

 

 

 

 
Recorded Balance of Loans on Nonaccrual Loans

The following table presents the Company’s recorded balance of nonaccrual loans at December 31, 2025 and December 31, 2024 (in thousands). This table excludes performing purchased credit deteriorated loans and performing loans modified.

 

 

 

2025

 

 

2024

 

 

 

Nonaccrual
with no
Allowance for

 

 

 

 

 

Nonaccrual
with no
Allowance for

 

 

 

 

 

 

Credit Loss

 

 

Nonaccrual

 

 

Credit Loss

 

 

Nonaccrual

 

Construction and land development

 

$

5

 

 

$

5

 

 

$

6

 

 

$

6

 

Agricultural real estate

 

 

1,181

 

 

 

1,181

 

 

 

2,213

 

 

 

2,213

 

1-4 family residential properties

 

 

4,940

 

 

 

5,763

 

 

 

4,196

 

 

 

4,937

 

Multifamily residential properties

 

 

371

 

 

 

371

 

 

 

—

 

 

 

—

 

Commercial real estate

 

 

10,109

 

 

 

10,381

 

 

 

4,901

 

 

 

7,716

 

Loans secured by real estate

 

 

16,606

 

 

 

17,701

 

 

 

11,316

 

 

 

14,872

 

Agricultural loans

 

 

19

 

 

 

19

 

 

 

1,371

 

 

 

11,521

 

Commercial and industrial loans

 

 

1,232

 

 

 

1,967

 

 

 

1,320

 

 

 

2,071

 

Consumer loans

 

 

182

 

 

 

182

 

 

 

311

 

 

 

311

 

All other loans

 

 

1,942

 

 

 

11,184

 

 

 

—

 

 

 

—

 

Total loans

 

$

19,981

 

 

$

31,053

 

 

$

14,318

 

 

$

28,775

 
Amortized Cost Basis of Loans Experiencing Financial Difficulty and Modified

The following table shows the amortized cost of loans at December 31, 2025 and 2024 that were both experiencing financial difficulty and modified segregated by portfolio segment and type of modification. The percentage of the amortized cost of loans that were modified to borrowers in financial distress as compared to outstanding loans is also presented below.

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

Payment

 

 

Term

 

 

Interest

 

 

Class of

 

 

 

Delay

 

 

Extension

 

 

Rate

 

 

Financing

 

 

 

Investment

 

 

Modifications

 

 

Reduction

 

 

Receivable

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

288

 

 

$

—

 

 

$

—

 

 

 

—

%

1-4 family residential properties

 

 

9

 

 

 

1,085

 

 

 

—

 

 

 

0.02

%

Commercial real estate

 

 

575

 

 

 

—

 

 

 

505

 

 

 

0.02

%

Loans secured by real estate

 

 

872

 

 

 

1,085

 

 

 

505

 

 

 

0.04

%

Commercial and industrial loans

 

 

708

 

 

 

73

 

 

 

—

 

 

 

0.01

%

Consumer loans

 

 

—

 

 

 

4

 

 

 

—

 

 

 

—

%

Total

 

$

1,580

 

 

$

1,162

 

 

$

505

 

 

 

0.05

%

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

309

 

 

$

—

 

 

$

—

 

 

 

0.01

%

1-4 family residential properties

 

 

45

 

 

 

758

 

 

 

—

 

 

 

0.01

%

Commercial real estate

 

 

847

 

 

 

188

 

 

 

472

 

 

 

0.03

%

Loans secured by real estate

 

 

1,201

 

 

 

946

 

 

 

472

 

 

 

0.05

%

Commercial and industrial loans

 

 

136

 

 

 

92

 

 

 

—

 

 

 

—

%

Consumer loans

 

 

2

 

 

 

8

 

 

 

—

 

 

 

—

%

Total

 

$

1,339

 

 

$

1,046

 

 

$

472

 

 

 

0.05

%
Performance of loans modified The following table shows the performance of such loans that have been modified in the last twelve months ended December 31, 2025.

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

90 Days or
More
Past Due

 

 

Total Past
Due

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

$

—

 

 

$

505

 

 

$

—

 

 

$

505

 

Loans secured by real estate

 

 

—

 

 

 

505

 

 

 

—

 

 

 

505

 

Commercial and industrial loans

 

 

—

 

 

 

723

 

 

 

—

 

 

 

723

 

Total loans

 

$

—

 

 

$

1,228

 

 

$

—

 

 

$

1,228

 
Financial Effect of Loan Modifications

The following table shows the financial effect of loan modifications during the current quarter to borrowers experiencing financial difficulty for the three months ended December 31, 2025.

 

 

 

Weighted Average

 

 

Weighted Average

 

 

 

Interest Rate

 

 

Term Extension

 

 

 

Reduction

 

 

(in months)

 

Agricultural real estate

 

 

—

%

 

 

—

 

1-4 family residential properties

 

 

—

%

 

 

—

 

Commercial real estate

 

 

—

%

 

 

—

 

Commercial and industrial loans

 

 

—

%

 

 

—

 

Consumer loans

 

 

—

%

 

 

—

 

Other Loans

 

 

—

%

 

 

—

 
Summary of Purchased Credit Deteriorated (PCD) Loans

During 2023, the Company acquired loans from Blackhawk Bank, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows (in thousands):

 

 

 

Blackhawk Acquisition

 

Purchase price of purchase credit deteriorated loans at acquisition

 

$

115,250

 

Allowance for credit losses at acquisition

 

 

(3,791

)

Non-credit discount/(premium) at acquisition

 

 

(5,476

)

Fair value of purchased credit deteriorated loans at acquisition

 

$

105,983

 
v3.25.4
Premises and Equipment, Net (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Premises and Equipment

Premises and equipment at December 31, 2025 and 2024 consisted of (in thousands):

 

 

 

2025

 

 

2024

 

Land

 

$

28,523

 

 

$

35,355

 

Buildings and improvements

 

 

67,201

 

 

 

71,814

 

Furniture and equipment

 

 

21,678

 

 

 

20,154

 

Leasehold improvements

 

 

5,377

 

 

 

5,054

 

Capitalized software

 

 

7,243

 

 

 

3,233

 

Construction in progress

 

 

652

 

 

 

1,553

 

Subtotal

 

 

130,674

 

 

 

137,163

 

Accumulated depreciation and amortization

 

 

39,892

 

 

 

36,929

 

Total

 

$

90,782

 

 

$

100,234

 
v3.25.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Schedule of Intangible Assets and Goodwill The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of December 31, 2025 and 2024 (in thousands):

 

 

 

2025

 

 

2024

 

 

 

Gross
Carrying

 

 

Accumulated

 

 

Gross
Carrying

 

 

Accumulated

 

 

 

Value

 

 

Amortization

 

 

Value

 

 

Amortization

 

Goodwill

 

$

207,151

 

 

$

3,760

 

 

$

207,151

 

 

$

3,760

 

Core deposit intangibles

 

 

79,945

 

 

 

53,285

 

 

 

79,945

 

 

 

44,736

 

Customer list intangibles

 

 

34,420

 

 

 

16,021

 

 

 

30,857

 

 

 

13,180

 

 

$

324,531

 

 

$

76,081

 

 

$

320,968

 

 

$

64,691

 
Intangible Assets Mortgage Servicing Rights The following table summarizes the activity pertaining to the mortgage servicing rights included in intangible assets as of December 31, 2025 and 2024 (in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

Beginning balance

 

$

5,629

 

 

$

6,859

 

Adjustment to valuation reserve

 

 

1

 

 

 

7

 

Mortgage servicing rights amortized

 

 

(1,053

)

 

 

(1,226

)

Interest only strip

 

 

(11

)

 

 

(11

)

Ending balance

 

$

4,566

 

 

$

5,629

 

Fair value of portfolio

 

$

5,596

 

 

$

6,716

 
Schedule of Intangible Assets Amortization Expense

Total amortization expense for the years ended December 31, 2025, 2024, and 2023 was as follows (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Core deposit intangibles

 

$

8,549

 

 

$

9,770

 

 

$

6,534

 

Customer list intangibles

 

 

2,841

 

 

 

2,560

 

 

 

2,069

 

Mortgage servicing rights

 

 

1,053

 

 

 

1,226

 

 

 

524

 

 

 

$

12,443

 

 

$

13,556

 

 

$

9,127

 
Schedule of Expected Amortization Expense

Estimated amortization expense for each of the five succeeding years is shown in the table below (in thousands):

 

For year ended 12/31/26

 

$

10,925

 

For year ended 12/31/27

 

 

9,661

 

For year ended 12/31/28

 

 

8,447

 

For year ended 12/31/29

 

 

7,095

 

For year ended 12/31/30

 

 

5,417

 
Mid Rivers  
Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded

The following provides a reconciliation of the purchase price paid for Mid Rivers Insurance Group, Inc. and the amount of goodwill recorded (in thousands):

 

Unallocated purchase price

 

 

 

 

$

10,059

 

Less purchase accounting adjustments:

 

 

 

 

 

 

Insurance Company intangible

 

$

4,305

 

 

 

 

Other liabilities

 

 

(1,176

)

 

 

 

 

 

 

 

 

3,129

 

Resulting goodwill from acquisition

 

 

 

 

$

6,930

 
Blackhawk Bancorp, Inc  
Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded

The following table provides a reconciliation of the purchase price paid for the acquisition of Blackhawk and the amount of goodwill recorded (in thousands):

 

Unallocated purchase price

 

 

 

 

$

26,955

 

Less purchase accounting adjustments:

 

 

 

 

 

 

Fair value of securities

 

$

(25,521

)

 

 

 

Fair value of loans, net

 

 

(43,477

)

 

 

 

Fair value of premises and equipment

 

 

(3,856

)

 

 

 

Fair value of time deposits

 

 

2,311

 

 

 

 

Fair value of subordinated and jr subordinated debentures

 

 

3,707

 

 

 

 

Increase in core deposit intangible

 

 

33,731

 

 

 

 

Increase in mortgage servicing rights

 

 

3,344

 

 

 

 

Other assets

 

 

6,619

 

 

 

 

 

 

 

 

 

(23,142

)

Resulting goodwill from acquisition

 

 

 

 

$

50,097

 
Purdum, Gray, Ingledue, Beck, Inc.  
Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded

The following provides a reconciliation of the purchase price paid for Purdum, Gray, Ingledue, Beck, Inc. and the amount of goodwill recorded (in thousands):

 

Unallocated purchase price

 

 

 

 

$

10,145

 

Less purchase accounting adjustments:

 

 

 

 

 

 

Insurance Company intangible

 

$

5,770

 

 

 

 

Other liabilities

 

 

(1,576

)

 

 

 

 

 

 

 

 

4,194

 

Resulting goodwill from acquisition

 

 

 

 

$

5,951

 
v3.25.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Deposits [Abstract]  
Summary of Deposits

As of December 31, 2025 and 2024, deposits consisted of the following (in thousands):

 

 

 

2025

 

 

2024

 

Demand deposits:

 

 

 

 

 

 

Non-interest-bearing

 

$

1,392,534

 

 

$

1,329,155

 

Interest-bearing

 

 

2,095,370

 

 

 

1,907,734

 

Savings

 

 

639,412

 

 

 

636,427

 

Money market

 

 

1,138,464

 

 

 

1,196,537

 

Time deposits

 

 

1,129,493

 

 

 

987,243

 

Total deposits

 

$

6,395,273

 

 

$

6,057,096

 
Summary of Aggregate Amount of Time Deposits more than 100,000

As of December 31, 2025, 2024, and 2023, the aggregate amount of time deposits in denominations of more than $250,000 was as follows (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Time deposit balances in denominations of more than $250,000

 

$

419,929

 

 

$

341,432

 

 

$

282,028

 

 
Summary of Maturities for All Time Deposits

The following table shows the amount of maturities for all time deposits as of December 31, 2025 (in thousands):

 

Less than 1 year

 

$

988,464

 

1 year to 3 years

 

 

123,759

 

3 years to 5 years

 

 

17,270

 

Over 5 years

 

 

—

 

Total

 

$

1,129,493

 
v3.25.4
Repurchase Agreements and Other Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
Repurchase Agreements And Other Borrowings [Abstract]  
Schedule of Borrowings

As of December 31, 2025 and 2024 borrowings consisted of the following (in thousands):

 

 

 

2025

 

 

2024

 

Securities sold under agreements to repurchase

 

$

196,716

 

 

$

204,122

 

Federal Home Loan Bank-overnight

 

 

—

 

 

 

90,000

 

Federal Home Loan Bank (FHLB) fixed-term advances

 

 

270,000

 

 

 

152,520

 

Subordinated debt

 

 

60,008

 

 

 

87,472

 

Junior subordinated debentures

 

 

24,454

 

 

 

24,280

 

Total

 

$

551,178

 

 

$

558,394

 
Aggregate Annual Maturities of Long-Term Borrowings

Aggregate annual maturities of FHLB advances and debt (excluding unamortized discounts and premiums) at December 31, 2025 are (in thousands):

 

 

 

 

 

 

Subordinated

 

 

Jr. Subordinated

 

 

 

 

 

 

FHLB

 

 

Debt

 

 

Debentures

 

 

Total

 

2026

 

$

25,000

 

 

$

—

 

 

$

—

 

 

$

25,000

 

2027

 

 

50,000

 

 

 

—

 

 

 

—

 

 

 

50,000

 

2028

 

 

25,000

 

 

 

—

 

 

 

—

 

 

 

25,000

 

2029

 

 

45,000

 

 

 

—

 

 

 

—

 

 

 

45,000

 

2030

 

 

100,000

 

 

 

56,000

 

 

 

—

 

 

 

156,000

 

Thereafter

 

 

25,000

 

 

 

5,000

 

 

 

25,775

 

 

 

55,775

 

 

 

270,000

 

 

 

61,000

 

 

 

25,775

 

 

 

356,775

 

Unamortized discount

 

 

—

 

 

 

(992

)

 

 

(1,321

)

 

 

(2,313

)

 

$

270,000

 

 

$

60,008

 

 

$

24,454

 

 

$

354,462

 
Federal Home Loan Bank, Advances

FHLB advances represent borrowings by First Mid Bank to fund loan demand. At December 31, 2025 the advances totaling $270.0 million were as follows:

 

Advance

 

Term (in years)

 

Interest Rate

 

Maturity Date

$25,000,000

 

3.0

 

4.40%

 

June 15, 2026

25,000,000

 

3.0

 

4.37%

 

May 10, 2027

25,000,000

 

3.0

 

4.32%

 

May 17, 2027

25,000,000

 

5.0

 

3.95%

 

June 29, 2028

25,000,000

 

5.0

 

3.93%

 

June 27, 2029

5,000,000

 

10.0

 

1.15%

 

October 3, 2029

5,000,000

 

10.0

 

1.12%

 

October 3, 2029

10,000,000

 

10.0

 

1.39%

 

December 31, 2029

25,000,000

 

5.0

 

3.46%

 

February 7, 2030

25,000,000

 

5.0

 

3.16%

 

August 14, 2030

50,000,000

 

5.0

 

2.92%

 

November 25, 2030

25,000,000

 

10.0

 

2.71%

 

March 5, 2035

 
Schedule of Securities Financing Transactions

Repurchase agreements by class of collateral pledged are as follows (in thousands):

 

 

 

December 31, 2025

 

 

December 31, 2024

 

US Treasury securities and obligations of U.S. government corporations and agencies

 

$

55,863

 

 

$

70,664

 

Mortgage-backed securities

 

 

140,853

 

 

 

133,458

 

Total

 

$

196,716

 

 

$

204,122

 

 

 

 

 

 

 

 

(1) Mortgage-backed securities include mortgage-backed securities (MBS) and collateralized mortgage obligation (CMO) issues from the following government sponsored enterprises: FHLMC, FNMA, GNMA and FHLB.

 

 

 
v3.25.4
Regulatory Capital (Tables)
 12 Months Ended
Dec. 31, 2025
Regulatory Capital [Abstract]  
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

As of December 31, 2025 and 2024, the most recent notification from the primary regulators categorized First Mid Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, minimum total risk-based capital, Tier 1 risk-based capital, Common Equity Tier 1 risk-based capital, and Tier 1 leverage ratios must be maintained as set forth in the table below. At December 31, 2025, there were no conditions or events since the most recent notification that management believes have changed this categorization.

 

 

 

Actual

 

 

Required Minimum For Capital Adequacy Purposes with Capital Buffer

 

To Be Well-Capitalized Under Prompt Corrective Action Provisions

(Dollars in thousands)

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

Amount

 

 

Ratio

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

989,634

 

 

 

15.67

%

 

$

663,053

 

 

>10.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

910,047

 

 

 

14.47

%

 

 

660,282

 

 

>10.50%

 

$

628,840

 

 

> 10.00%

Tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

855,405

 

 

 

13.55

%

 

 

536,757

 

 

> 8.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

835,826

 

 

 

13.29

%

 

 

534,514

 

 

> 8.50%

 

 

503,072

 

 

> 8.00%

Common equity tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

830,951

 

 

 

13.16

%

 

 

442,035

 

 

> 7.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

835,826

 

 

 

13.29

%

 

 

440,188

 

 

> 7.00%

 

 

408,746

 

 

> 6.50%

Tier 1 capital (to average assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

855,405

 

 

 

11.07

%

 

 

308,994

 

 

> 4.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

835,826

 

 

 

10.88

%

 

 

307,361

 

 

> 4.00%

 

 

384,201

 

 

> 5.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

935,189

 

 

 

15.37

%

 

$

639,015

 

 

>10.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

880,621

 

 

 

14.51

%

 

 

637,089

 

 

>10.50%

 

$

606,752

 

 

> 10.00%

Tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

780,096

 

 

 

12.82

%

 

 

517,298

 

 

> 8.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

813,000

 

 

 

13.40

%

 

 

515,739

 

 

> 8.50%

 

 

485,401

 

 

> 8.00%

Common equity tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

755,816

 

 

 

12.42

%

 

 

426,010

 

 

> 7.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

813,000

 

 

 

13.40

%

 

 

424,726

 

 

> 7.00%

 

 

394,389

 

 

> 6.50%

Tier 1 capital (to average assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

780,096

 

 

 

10.33

%

 

 

301,976

 

 

> 4.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

813,000

 

 

 

10.82

%

 

 

300,596

 

 

> 4.00%

 

 

375,745

 

 

> 5.00%
v3.25.4
Disclosures of Fair Values of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the Company’s assets that are measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall as of December 31, 2025 and 2024 (in thousands):

 

 

 

 

 

 

Fair Value Measurements Using:

 

 

 

 

 

 

Quoted Prices in

 

 

Significant

 

 

Significant

 

 

 

 

 

 

Active Markets

 

 

Other

 

 

Unobservable

 

 

 

 

 

 

for Identical

 

 

Observable

 

 

Inputs

 

 

 

Fair Value

 

 

Assets (Level 1)

 

 

Inputs (Level 2)

 

 

(Level 3)

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

144,080

 

 

$

—

 

 

$

144,080

 

 

$

—

 

Obligations of states and political subdivisions

 

 

280,633

 

 

 

—

 

 

 

280,633

 

 

 

—

 

Mortgage-backed securities

 

 

624,666

 

 

 

—

 

 

 

624,666

 

 

 

—

 

Corporate bonded debt

 

 

27,504

 

 

 

—

 

 

 

24,745

 

 

 

2,759

 

Total available-for-sale securities

 

 

1,076,883

 

 

 

—

 

 

 

1,074,124

 

 

 

2,759

 

Equity securities

 

 

4,588

 

 

 

4,588

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

5,203

 

 

 

—

 

 

 

5,203

 

 

 

—

 

Derivative assets: interest rate swaps

 

 

1,728

 

 

 

—

 

 

 

1,728

 

 

 

—

 

Total assets

 

$

1,088,402

 

 

$

4,588

 

 

$

1,081,055

 

 

$

2,759

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities: interest rate swaps

 

$

1,247

 

 

$

—

 

 

$

1,247

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities and obligations of U.S. government corporations and agencies

 

$

191,358

 

 

$

—

 

 

$

191,358

 

 

$

—

 

Obligations of states and political subdivisions

 

 

267,740

 

 

 

—

 

 

 

267,740

 

 

 

—

 

Mortgage-backed securities

 

 

539,742

 

 

 

—

 

 

 

539,742

 

 

 

—

 

Corporate bonded debt

 

 

64,452

 

 

 

—

 

 

 

58,693

 

 

 

5,759

 

Total available-for-sale securities

 

 

1,063,292

 

 

 

—

 

 

 

1,057,533

 

 

 

5,759

 

Equity securities

 

 

4,439

 

 

 

4,439

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

6,614

 

 

 

—

 

 

 

6,614

 

 

 

—

 

Derivative assets: interest rate swaps

 

 

2,949

 

 

 

—

 

 

 

2,949

 

 

 

—

 

Total assets

 

$

1,077,294

 

 

$

4,439

 

 

$

1,067,096

 

 

$

5,759

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities: interest rate swaps

 

$

2,006

 

 

$

—

 

 

$

2,006

 

 

$

—

 

 
Fair Value of Assets Measured on a Recurring Basis Using Significant Unobservable Inputs

The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2025 and 2024 is summarized as follows (in thousands):

 

 

 

Total

 

December 31, 2025

 

 

 

Beginning balance

 

$

5,759

 

Transfers out of Level 3

 

 

(7,029

)

Purchases

 

 

7,029

 

Maturities

 

 

(3,000

)

Ending balance

 

$

2,759

 

 

 

 

December 31, 2024

 

 

 

Beginning balance

 

$

6,163

 

Transfers into Level 3

 

 

3

 

Maturities

 

 

(407

)

Ending balance

 

$

5,759

 
Assets Measured at Fair Value on a Nonrecurring Basis

The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2025 and 2024 (in thousands):

 

 

 

Fair Value Measurements Using

 

 

 

 

 

 

Quoted Prices

 

 

 

 

 

 

 

 

 

 

 

 

in Active

 

 

Significant

 

 

Significant

 

 

 

 

 

 

Markets for

 

 

Other

 

 

Unobservable

 

 

 

 

 

 

Identical Assets

 

 

Observable Inputs

 

 

Inputs

 

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

10,389

 

 

$

—

 

 

$

—

 

 

$

10,389

 

Foreclosed assets held for sale

 

 

605

 

 

 

—

 

 

 

—

 

 

 

605

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

16,604

 

 

$

—

 

 

$

—

 

 

$

16,604

 

Foreclosed assets held for sale

 

 

48

 

 

 

—

 

 

 

—

 

 

 

48

 
Significant Unobservable Inputs Used in Valuation of Level 3 Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in Level 3 fair value measurements other than goodwill at December 31, 2025.

 

 

 

Fair Value

 

 

Valuation

 

 

 

Range

 

 

(in thousands)

 

 

Technique

 

Unobservable Inputs

 

(Weighted Average)

Collateral dependent loans

 

$

10,389

 

 

Third party valuations

 

Discount to reflect realizable value

 

0% - 40%

 

(20%)

Foreclosed assets held for sale

 

 

605

 

 

Third party valuations

 

Discount to reflect realizable value less estimated selling costs

 

0% - 40%

 

(35%)

The following table presents quantitative information about unobservable inputs used in Level 3 fair value measurements other than goodwill at December 31, 2024.

 

 

 

Fair Value

 

 

Valuation

 

 

 

Range

 

 

(in thousands)

 

 

Technique

 

Unobservable Inputs

 

(Weighted Average)

Collateral dependent loans

 

$

16,604

 

 

Third party valuations

 

Discount to reflect realizable value

 

0% - 40%

 

(20%)

Foreclosed assets held for sale

 

 

48

 

 

Third party valuations

 

Discount to reflect realizable value less estimated selling costs

 

0% - 40%

 

(35%)
Summary of Estimated Fair Values of Company Financial Instruments

The following tables present estimated fair values of the Company’s financial instruments at December 31, 2025 and 2024 (in thousands):

 

 

 

Carrying

 

 

Fair

 

 

 

 

 

 

 

 

 

 

 

 

Amount

 

 

Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

254,844

 

 

$

254,844

 

 

$

254,844

 

 

$

—

 

 

$

—

 

Federal funds sold

 

 

76

 

 

 

76

 

 

 

76

 

 

 

—

 

 

 

—

 

Certificates of deposit investments

 

 

1,740

 

 

 

1,740

 

 

 

—

 

 

 

1,740

 

 

 

—

 

Available-for-sale securities

 

 

1,076,883

 

 

 

1,076,883

 

 

 

—

 

 

 

1,074,124

 

 

 

2,759

 

Held-to-maturity securities

 

 

2,288

 

 

 

2,288

 

 

 

2,288

 

 

 

—

 

 

 

—

 

Equity securities

 

 

4,588

 

 

 

4,588

 

 

 

4,588

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

5,203

 

 

 

5,203

 

 

 

—

 

 

 

5,203

 

 

 

—

 

Loans net of allowance for credit losses

 

 

5,931,296

 

 

 

5,761,258

 

 

 

—

 

 

 

—

 

 

 

5,761,258

 

Interest receivable

 

 

39,949

 

 

 

39,949

 

 

 

—

 

 

 

39,949

 

 

 

—

 

Federal Reserve Bank stock

 

 

19,855

 

 

 

19,855

 

 

 

—

 

 

 

19,855

 

 

 

—

 

Federal Home Loan Bank stock

 

 

11,351

 

 

 

11,351

 

 

 

—

 

 

 

11,351

 

 

 

—

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

6,395,273

 

 

$

6,322,439

 

 

$

—

 

 

$

5,265,780

 

 

$

1,056,659

 

Securities sold under agreements to repurchase

 

 

196,716

 

 

 

196,716

 

 

 

—

 

 

 

196,716

 

 

 

—

 

Interest payable

 

 

5,782

 

 

 

5,782

 

 

 

—

 

 

 

5,782

 

 

 

—

 

Federal Home Loan Bank borrowings

 

 

270,000

 

 

 

270,338

 

 

 

—

 

 

 

270,338

 

 

 

—

 

Subordinated debentures

 

 

60,008

 

 

 

60,800

 

 

 

—

 

 

 

60,800

 

 

 

—

 

Junior subordinated debentures

 

 

24,454

 

 

 

22,083

 

 

 

—

 

 

 

22,083

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

121,141

 

 

$

121,141

 

 

$

121,141

 

 

$

—

 

 

$

—

 

Federal funds sold

 

 

75

 

 

 

75

 

 

 

75

 

 

 

—

 

 

 

—

 

Certificates of deposit investments

 

 

3,500

 

 

 

3,500

 

 

 

—

 

 

 

3,500

 

 

 

—

 

Available-for-sale securities

 

 

1,063,292

 

 

 

1,063,292

 

 

 

—

 

 

 

1,057,533

 

 

 

5,759

 

Held-to-maturity securities

 

 

2,279

 

 

 

2,279

 

 

 

2,279

 

 

 

—

 

 

 

—

 

Equity securities

 

 

4,439

 

 

 

4,439

 

 

 

4,439

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

6,614

 

 

 

6,614

 

 

 

—

 

 

 

6,614

 

 

 

—

 

Loans net of allowance for credit losses

 

 

5,595,666

 

 

 

5,314,756

 

 

 

—

 

 

 

—

 

 

 

5,314,756

 

Interest receivable

 

 

38,639

 

 

 

38,639

 

 

 

—

 

 

 

38,639

 

 

 

—

 

Federal Reserve Bank stock

 

 

19,855

 

 

 

19,855

 

 

 

—

 

 

 

19,855

 

 

 

—

 

Federal Home Loan Bank stock

 

 

9,501

 

 

 

9,501

 

 

 

—

 

 

 

9,501

 

 

 

—

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

6,057,096

 

 

$

5,977,113

 

 

$

—

 

 

$

5,069,853

 

 

$

907,260

 

Securities sold under agreements to repurchase

 

 

204,122

 

 

 

204,122

 

 

 

—

 

 

 

204,122

 

 

 

—

 

Interest payable

 

 

5,280

 

 

 

5,280

 

 

 

—

 

 

 

5,280

 

 

 

—

 

Federal Home Loan Bank borrowings

 

 

242,520

 

 

 

240,125

 

 

 

—

 

 

 

240,125

 

 

 

—

 

Subordinated debentures

 

 

87,472

 

 

 

86,062

 

 

 

—

 

 

 

86,062

 

 

 

—

 

Junior subordinated debentures

 

 

24,280

 

 

 

21,411

 

 

 

—

 

 

 

21,411

 

 

 

—

 
v3.25.4
Stock Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Compensation Cost, Net of Forfeitures, Related to Stock-based Compensation

The following table summarizes the compensation cost, net of forfeitures, related to stock-based compensation for the years ended December 31, 2025, 2024, and 2023 (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Stock and stock unit awards:

 

 

 

 

 

 

 

 

 

Pre-tax compensation expense

 

$

2,642

 

 

$

2,359

 

 

$

1,656

 

Income tax benefit

 

 

(555

)

 

 

(495

)

 

 

(348

)

Total share-based compensation expense, net of income taxes

 

$

2,087

 

 

$

1,864

 

 

$

1,308

 
Summary of Unvested Stock and Stock Units

The following table summarizes non-vested stock and stock unit activity for the years ended December 31, 2025, 2024, and 2023:

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

 

 

 

Weighted-avg

 

 

 

 

 

Weighted-avg

 

 

 

 

 

Weighted-avg

 

 

 

 

 

 

Grant-date

 

 

 

 

 

Grant-date

 

 

 

 

 

Grant-date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

Nonvested, beginning of year

 

 

96,571

 

 

$

32.29

 

 

 

76,740

 

 

$

33.24

 

 

 

82,048

 

 

$

37.41

 

Granted

 

 

84,097

 

 

 

38.96

 

 

 

80,332

 

 

 

33.51

 

 

 

45,986

 

 

 

27.64

 

Vested

 

 

(62,512

)

 

 

(35.20

)

 

 

(58,330

)

 

 

(35.05

)

 

 

(49,525

)

 

 

(34.88

)

Forfeited

 

 

(1,452

)

 

 

(36.39

)

 

 

(2,171

)

 

 

(32.21

)

 

 

(1,769

)

 

 

(35.15

)

Nonvested, end of year

 

 

116,704

 

 

$

35.57

 

 

 

96,571

 

 

$

32.29

 

 

 

76,740

 

 

$

33.24

 

Fair value of shares vested

 

 

 

 

$

2,200,358

 

 

 

 

 

$

2,044,438

 

 

 

 

 

$

1,727,554

 
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Components of Federal and State Income Tax Expense

The components of federal and state income tax expense for the years ended December 31, 2025, 2024, and 2023 were as follows (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Current

 

 

 

 

 

 

 

 

 

Federal

 

$

19,899

 

 

$

18,504

 

 

$

2,189

 

State

 

 

7,738

 

 

 

6,404

 

 

 

542

 

Total current

 

 

27,637

 

 

 

24,908

 

 

 

2,731

 

Deferred

 

 

 

 

 

 

 

 

 

Federal

 

 

(1,887

)

 

 

(2,497

)

 

 

12,585

 

State

 

 

(451

)

 

 

3,087

 

 

 

4,154

 

Total deferred

 

 

(2,338

)

 

 

590

 

 

 

16,739

 

Total

 

$

25,299

 

 

$

25,498

 

 

$

19,470

 

 
Effective Income Tax Reconciliation The principal reasons for the difference are as follows (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

Amount

 

Percentage

 

 

Amount

 

Percentage

 

 

Amount

 

Percentage

 

US statutory income tax rate

 

$

24,580

 

 

21.0

%

 

$

21,923

 

 

21.0

%

 

$

18,565

 

 

21.0

%

Domestic state and local income tax, net of federal

 

 

5,772

 

 

4.9

%

 

 

4,917

 

 

4.7

%

 

 

3,710

 

 

4.2

%

Tax credits (federal)

 

 

(290

)

 

-0.2

%

 

 

(229

)

 

-0.2

%

 

 

(303

)

 

-0.3

%

Nontaxable or nondeductible items (federal)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax-exempt income from bank owned life insurance

 

 

(908

)

 

-0.8

%

 

 

(994

)

 

-1.0

%

 

 

(1,035

)

 

-1.2

%

Nondeductible interest expense

 

 

98

 

 

0.1

%

 

 

307

 

 

0.3

%

 

 

799

 

 

0.9

%

Other tax-exempt income

 

 

(2,459

)

 

-2.1

%

 

 

(2,397

)

 

-2.3

%

 

 

(2,416

)

 

-2.7

%

Other

 

 

93

 

 

0.1

%

 

 

(297

)

 

-0.3

%

 

 

251

 

 

0.3

%

Changes in valuation allowances (federal)

 

 

(607

)

 

-0.5

%

 

 

(357

)

 

-0.3

%

 

 

—

 

 

—

%

Changes in tax laws or rates enacted in the current period

 

 

—

 

 

—

%

 

 

2,581

 

 

2.5

%

 

 

—

 

 

—

%

Changes in unrecognized tax benefits (federal), net

 

 

249

 

 

0.2

%

 

 

213

 

 

0.2

%

 

 

—

 

 

—

%

Other items

 

 

(1,229

)

 

-1.0

%

 

 

(169

)

 

-0.2

%

 

 

(101

)

 

-0.1

%

Effective tax rate

 

$

25,299

 

 

21.6

%

 

$

25,498

 

 

24.4

%

 

$

19,470

 

 

22.0

%
Tax Effects of Temporary Differences on Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of the temporary differences that gave rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2025 and 2024 are presented below (in thousands):

 

 

 

2025

 

 

2024

 

Deferred tax assets:

 

 

 

 

 

 

Allowance for credit losses

 

$

19,751

 

 

$

18,588

 

Available-for-sale investment securities

 

 

36,171

 

 

 

49,082

 

Deferred compensation

 

 

4,215

 

 

 

4,377

 

Supplemental retirement

 

 

533

 

 

 

512

 

Deferred loan costs

 

 

384

 

 

 

462

 

Stock compensation expense

 

 

207

 

 

 

80

 

Deferred revenue

 

 

162

 

 

 

211

 

Acquisition costs

 

 

87

 

 

 

112

 

Lease liability

 

 

3,476

 

 

 

3,743

 

Other

 

 

3,083

 

 

 

3,623

 

Total gross deferred tax assets

 

 

68,069

 

 

 

80,790

 

Less valuation allowance

 

 

—

 

 

 

(682

)

Net deferred tax asset

 

 

68,069

 

 

 

80,108

 

Deferred tax liabilities:

 

 

 

 

 

 

Intangibles amortization

 

 

8,722

 

 

 

5,378

 

Prepaid expenses

 

 

1,947

 

 

 

2,023

 

FHLB stock dividend

 

 

21

 

 

 

21

 

Deferred expenses

 

 

100

 

 

 

100

 

Purchase accounting

 

 

—

 

 

 

1,854

 

Depreciation

 

 

3,177

 

 

 

4,517

 

Accumulated accretion

 

 

—

 

 

 

222

 

Mortgage servicing rights

 

 

1,202

 

 

 

1,485

 

Right of use asset

 

 

3,335

 

 

 

3,657

 

Other

 

 

552

 

 

 

1,265

 

Total gross deferred tax liabilities

 

 

19,056

 

 

 

20,522

 

Deferred tax assets, net

 

$

49,013

 

 

$

59,586

 

In evaluating the realizability of its deferred tax assets, the Company assesses whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. Based on historical taxable income and projected future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will generate sufficient taxable income to realize the deferred tax assets as of December 31, 2024 and 2025, except

for a valuation allowance of $682,000 recorded against the 2024 net deferred tax asset related to capital loss carryforwards. In determining the need for this valuation allowance, the Company considered all positive and negative evidence available in assessing whether the weight of such evidence supported recognition of the deferred tax assets related to these capital losses. The Company expects to generate sufficient capital gains in 2025 to utilize the capital loss carryforwards; therefore, the Company has concluded that a valuation allowance is no longer warranted for the related deferred tax asset.
v3.25.4
Commitments and Contingent Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Off-balance Sheet Financial Instruments Whose Contract Amounts Represent Credit Risk

The off-balance sheet financial instruments whose contract amounts represent credit risk at December 31, 2025 and 2024 were as follows (in thousands):

 

 

 

2025

 

 

2024

 

Unused commitments and lines of credit:

 

 

 

 

 

 

Commercial real estate

 

$

214,028

 

 

$

323,979

 

Commercial operating

 

 

675,087

 

 

 

649,082

 

Home equity

 

 

119,456

 

 

 

105,867

 

Other

 

 

371,322

 

 

 

332,113

 

Total

 

$

1,379,893

 

 

$

1,411,041

 

Standby letters of credit

 

$

17,575

 

 

$

16,909

 
v3.25.4
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions

 

 

2025

 

 

2024

 

Beginning balance

 

$

247,942

 

 

$

248,698

 

New loans

 

 

17,237

 

 

 

144,024

 

Loan repayments

 

 

(134,897

)

 

 

(144,780

)

Ending balance

 

$

130,282

 

 

$

247,942

 
v3.25.4
Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination [Line Items]  
Summary of Purchased Credit Deteriorated (PCD) Loans

During 2023, the Company acquired loans from Blackhawk Bank, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows (in thousands):

 

 

 

Blackhawk Acquisition

 

Purchase price of purchase credit deteriorated loans at acquisition

 

$

115,250

 

Allowance for credit losses at acquisition

 

 

(3,791

)

Non-credit discount/(premium) at acquisition

 

 

(5,476

)

Fair value of purchased credit deteriorated loans at acquisition

 

$

105,983

 
Blackhawk Bancorp, Inc [Member]  
Business Combination [Line Items]  
Estimated Fair Values of Assets Acquired and Liabilities Assumed

A preliminary summary of the fair value of assets received and liabilities assumed are as follows:

 

(In thousands)

 

 

 

Assets

 

 

 

Cash and due from banks

 

$

55,600

 

Loans held for sale

 

 

3,222

 

Loans, net

 

 

722,866

 

Investments-available for sale

 

 

377,969

 

Short-term investments

 

 

869

 

FHLB stock

 

 

1,737

 

Premises and equipment

 

 

12,366

 

Accrued interest receivable

 

 

4,029

 

Prepaid expenses

 

 

1,182

 

Other assets

 

 

20,703

 

Core deposit intangible

 

 

34,590

 

Income tax receivable

 

 

2,077

 

Deferred tax asset

 

 

22,152

 

Mortgage servicing rights

 

 

7,070

 

Total assets acquired

 

$

1,266,432

 

 

 

 

Liabilities

 

 

 

Deposits

 

$

1,194,972

 

Subordinated and jr. subordinated debt

 

 

16,448

 

Accrued interest payable

 

 

1,091

 

Accrued and other liabilities

 

 

10,508

 

Total liabilities assumed

 

 

1,223,019

 

Net assets acquired

 

$

43,413

 

 

 

 

Total consideration

 

$

93,510

 

Goodwill

 

$

50,097

 
Summary of Consideration Transferred

The following table presents a summary of consideration transferred:

 

(In thousands, except shares)

 

 

 

Common stock issued (3,290,222 shares)

 

$

93,508

 

Cash consideration

 

 

2

 

Purchase price

 

$

93,510

 

 
Summary of Purchased Credit Deteriorated (PCD) Loans

The following table provides a summary of PCD loans purchased as part of the Blackhawk acquisition as of the acquisition date:

 

(In thousands)

 

 

 

Unpaid principal balance

 

$

115,250

 

PCD allowance for credit losses at acquisition

 

 

(3,791

)

Non-credit discount on acquired loans

 

 

(5,476

)

Fair value of PCD loans

 

$

105,983

 
Unaudited Pro Forma Condensed Combined Financial Information

The following unaudited pro forma condensed combined financial information presents the results of operations of the Company, including the effects of the purchase accounting adjustments and acquisition expenses, had the Blackhawk Merger taken place at the beginning of the period (dollars in thousands, except per share data):

 

 

 

Twelve months ended

 

 

 

December 31, 2023

 

Net interest income

 

$

229,317

 

Provision for credit losses

 

 

7,320

 

Non-interest income

 

 

95,660

 

Non-interest expense

 

 

223,354

 

Income before income taxes

 

 

94,303

 

Income tax expense

 

 

20,744

 

Net income available to common stockholders

 

$

73,559

 

Earnings per share

 

 

 

Basic

 

$

3.38

 

Diluted

 

$

3.36

 

Basic weighted average shares outstanding

 

 

21,780,217

 

Diluted weighted average shares outstanding

 

 

21,868,788

 

 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Summary of Supplemental Balance Sheet Information The following table contains supplemental balance sheet information related to leases (dollars in thousands):

 

 

 

2025

 

 

2024

 

Operating lease right-of-use assets

 

$

12,674

 

 

$

13,861

 

Operating lease liabilities

 

 

13,210

 

 

 

14,190

 

Weighted-average remaining lease term (in years)

 

4.4

 

 

4.7

 

Weighted-average discount rate

 

 

3.54

%

 

 

3.22

%
Summary of Future Minimum Lease Payments

Future minimum lease payments under operating leases are (in thousands):

 

 

 

Operating Leases

 

2026

 

$

3,327

 

2027

 

 

3,089

 

2028

 

 

2,439

 

2029

 

 

1,982

 

2030

 

 

1,338

 

Thereafter

 

 

2,483

 

Total minimum lease payments

 

 

14,658

 

Less imputed interest

 

 

(1,448

)

Total lease liability

 

$

13,210

 
Summary of Components of Lease Expense

The components of lease expense for the twelve months ended December 31, 2025 and 2024 were as follows (in thousands):

 

 

 

2025

 

 

2024

 

Operating lease cost

 

$

3,331

 

 

$

3,394

 

Short-term lease cost

 

 

145

 

 

 

118

 

Variable lease cost

 

 

1,182

 

 

 

775

 

Total lease cost

 

 

4,658

 

 

 

4,287

 

Income from subleases

 

 

(326

)

 

 

(429

)

Net lease cost

 

$

4,332

 

 

$

3,858

 
Summary of Operating Lease Cash Flows Cash paid for amounts included in the measurement of lease liabilities was (in thousands):

 

 

 

2025

 

 

2024

 

 

2023

 

Operating cash flows from operating leases

 

$

3,309

 

 

$

3,333

 

 

$

3,263

 
v3.25.4
Derivatives (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative [Line Items]  
Summary of Derivative Instruments, Gain (Loss)

The effects of fair value hedges on the Company's income statement during the twelve months ended December 31, 2025 and 2024 were as follows (in thousands):

 

Derivative

 

Location of Gain (Loss) on Derivative

 

2025

 

 

2024

 

Interest rate swap agreements

 

Interest income on loans

 

$

(462

)

 

$

(6

)

 

Derivative

 

Location of Gain (Loss) on Hedged Items

 

2025

 

 

2024

 

Interest rate swap agreements

 

Interest income on loans

 

$

462

 

 

$

6

 
Summary of Cumulative Basis Adjustment of Fair Value Hedges

As of December 31, 2025 and 2024, the following amounts were recorded on the balance sheet related to the cumulative basis adjustment for fair value hedges (in thousands):

 

 

 

 

 

 

 

Cumulative Amount of Fair Value Hedging

 

Line Item in the Balance Sheet in

 

Carrying Amount of

 

 

Adjustments Included in the Carrying

 

Which the Hedge Items are Included

 

the Hedged Assets

 

 

Amount of the Hedged Assets

 

December 31, 2025

 

 

 

 

 

 

 

 

Loans

 

 

$

11,493

 

 

 

$

(481

)

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

Loans

 

 

$

11,543

 

 

 

$

(943

)
Not Designated as Hedging Instrument  
Derivative [Line Items]  
Summary of Fair Value Derivative Instruments

The following table provides the outstanding notional balances and fair value of outstanding derivatives not designated as hedging instruments as of December 31, 2025 and 2024 (in thousands):

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

Balance Sheet

 

Remaining Maturity

 

Notional

 

 

Estimated

 

 

 

Location

 

(Years)

 

Amount

 

 

Value

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other assets

 

3.0

 

$

27,233

 

 

$

1,728

 

Interest rate swap agreements

 

Loans

 

3.0

 

 

27,233

 

 

 

481

 

Interest rate swap agreements

 

Other liabilities

 

3.0

 

 

27,233

 

 

 

1,247

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other assets

 

4.0

 

$

28,968

 

 

$

2,949

 

Interest rate swap agreements

 

Other liabilities

 

4.0

 

 

28,968

 

 

 

(2,949

)
Fair Value Hedging | Designated As Hedging Instrument  
Derivative [Line Items]  
Summary of Fair Value Derivative Instruments

The following table provides the outstanding notional balances and fair value of outstanding derivatives designated as hedging instruments as of December 31, 2025 and 2024 (in thousands):

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

Balance Sheet

 

Remaining Maturity

 

 

Notional

 

 

Estimated

 

Derivative

 

Location

 

(Years)

 

 

Amount

 

 

Value

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

 

3.3

 

 

$

11,974

 

 

$

(1,247

)

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

 

4.3

 

 

$

12,486

 

 

$

(2,006

)
v3.25.4
Parent Company Only Financial Statements (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Condensed Balance Sheets

First Mid Bancshares, Inc. (Parent Company)

 

 

 

 

 

 

Balance Sheets

 

December 31,

 

 

 

2025

 

 

2024

 

Assets

 

 

 

 

 

 

Cash

 

$

25,845

 

 

$

11,762

 

Premises and equipment, net

 

 

360

 

 

 

5,301

 

Investment in subsidiaries

 

 

996,334

 

 

 

934,750

 

Other assets

 

 

22,839

 

 

 

8,230

 

Total assets

 

$

1,045,378

 

 

$

960,043

 

Liabilities and stockholders’ equity

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Debt

 

$

84,462

 

 

$

111,752

 

Other liabilities

 

 

2,224

 

 

 

1,900

 

Total liabilities

 

 

86,686

 

 

 

113,652

 

Stockholders’ equity

 

 

958,692

 

 

 

846,391

 

Total liabilities and stockholders’ equity

 

$

1,045,378

 

 

$

960,043

 
Condensed Statements of Income

First Mid Bancshares, Inc. (Parent Company)

 

 

 

 

 

 

 

 

 

Statements of Income and Comprehensive Income (Loss)

 

Years ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Income:

 

 

 

 

 

 

 

 

 

Dividends from subsidiaries

 

$

79,115

 

 

$

58,000

 

 

$

51,213

 

Other income

 

 

159

 

 

 

681

 

 

 

87

 

Total income

 

 

79,274

 

 

 

58,681

 

 

 

51,300

 

Operating expenses

 

 

11,287

 

 

 

11,256

 

 

 

12,192

 

Income before income taxes and equity in undistributed earnings of subsidiaries

 

 

67,987

 

 

 

47,425

 

 

 

39,108

 

Income tax benefit

 

 

3,047

 

 

 

2,892

 

 

 

3,453

 

Income before equity in undistributed earnings of subsidiaries

 

 

71,034

 

 

 

50,317

 

 

 

42,561

 

Equity in undistributed earnings of subsidiaries

 

 

20,715

 

 

 

28,581

 

 

 

26,374

 

Net income

 

 

91,749

 

 

 

78,898

 

 

 

68,935

 

Other comprehensive income (loss), net of taxes

 

 

41,082

 

 

 

(5,956

)

 

 

15,080

 

Comprehensive income (loss)

 

$

132,831

 

 

$

72,942

 

 

$

84,015

 

 
Condensed Statements of Cash Flows

First Mid Bancshares, Inc. (Parent Company)

 

 

 

 

 

 

 

 

 

Statements of Cash Flows

 

Years ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

Net income

 

$

91,749

 

 

$

78,898

 

 

$

68,935

 

Adjustments to reconcile net income to net

 

 

 

 

 

 

 

 

 

Cash provided by (used in) operating activities:

 

 

 

 

 

 

 

 

 

Depreciation, amortization, accretion, net

 

 

—

 

 

 

—

 

 

 

265

 

Dividends received from subsidiary

 

 

—

 

 

 

—

 

 

 

51,213

 

Equity in undistributed earnings of subsidiaries

 

 

(20,715

)

 

 

(28,581

)

 

 

(26,374

)

Increase in other assets

 

 

(12,522

)

 

 

(2,221

)

 

 

(49,606

)

Increase (decrease) in other liabilities

 

 

4,798

 

 

 

(871

)

 

 

1,526

 

Net cash provided by (used in) operating activities

 

 

63,310

 

 

 

47,225

 

 

 

45,959

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

Investment in subsidiary

 

 

—

 

 

 

(4,000

)

 

 

—

 

Net cash from (used in) business acquisition

 

 

—

 

 

 

—

 

 

 

(41,827

)

Other

 

 

3,654

 

 

 

—

 

 

 

—

 

Net cash provided by (used in) investing activities

 

 

3,654

 

 

 

(4,000

)

 

 

(41,827

)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

Repayment of long-term debt

 

 

(29,882

)

 

 

(19,455

)

 

 

—

 

Proceeds from issuance of common stock

 

 

1,120

 

 

 

1,054

 

 

 

1,004

 

Payment to repurchase common stock

 

 

(724

)

 

 

(659

)

 

 

(465

)

Dividends paid on common stock

 

 

(23,395

)

 

 

(22,371

)

 

 

(19,557

)

Net cash provided by (used in) financing activities

 

 

(52,881

)

 

 

(41,431

)

 

 

(19,018

)

Increase (decrease) in cash

 

 

14,083

 

 

 

1,794

 

 

 

(14,886

)

Cash at beginning of year

 

 

11,762

 

 

 

9,968

 

 

 

24,854

 

Cash at end of year

 

$

25,845

 

 

$

11,762

 

 

$

9,968

 
v3.25.4
Basis of Accounting and Consolidation - Additional Information (Details)
 3 Months Ended 12 Months Ended
Oct. 29, 2025
shares
Mar. 20, 2023
USD ($)
$ / shares
shares
Dec. 31, 2025
USD ($)
$ / shares
shares
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2025
USD ($)
Segment
$ / shares
shares
Dec. 31, 2024
USD ($)
$ / shares
shares
Dec. 31, 2023
USD ($)
shares
Dec. 31, 2022
USD ($)
Summary Of Significant Accounting Policies [Line Items]                    
Common stock, par value (in dollars per share) | $ / shares     $ 4       $ 4 $ 4    
Number of operating segment | Segment             1      
Assets     $ 7,966,658,000       $ 7,966,658,000 $ 7,519,734,000    
Loans     5,931,296,000       5,931,296,000 5,595,666,000    
Deposits     $ 6,395,273,000       $ 6,395,273,000 6,057,096,000    
Federal funds selling period             1 day      
Intangible assets amortization period     15 years       15 years      
Captive maximum gross premiums             $ 2,850,000      
Value of trust accounts     $ 6,600,000,000       $ 6,600,000,000 $ 6,400,000,000    
Stock plans, term             10 years      
Maximum number of shares to be issued in stock incentive plan (in shares) | shares     1,000,000       1,000,000      
RSA/RSU, grants in period, gross | shares             84,097 80,332 45,986  
Employee discount for employee stock purchase plan             15.00%      
Employee stock purchase plan, number of shares authorized | shares     600,000       600,000      
Stock issued during period, shares, employee stock purchase plans | shares             29,313 32,936 38,989  
Right of use lease assets     $ 12,674,000       $ 12,674,000 $ 13,861,000    
Lease liability     13,210,000       13,210,000 14,190,000    
Cumulative change in accounting principal     958,692,000       958,692,000 846,391,000 $ 793,204,000 $ 633,155,000
Allowance for credit losses on loans     $ 74,875,000       $ 74,875,000 $ 70,182,000 $ 68,675,000 $ 59,093,000
Employee Stock Purchase Plan                    
Summary Of Significant Accounting Policies [Line Items]                    
Shares available for issuance | shares     444,023       444,023      
ASU 2023-07                    
Summary Of Significant Accounting Policies [Line Items]                    
Change in accounting principle, accounting standards update, adopted [true false]     true       true      
Change in accounting principle, accounting standards update, adoption date     Dec. 31, 2024       Dec. 31, 2024      
Minimum                    
Summary Of Significant Accounting Policies [Line Items]                    
Certificates of deposit investments original maturities period             3 years      
Allowance for credit losses on loans     $ 250,000,000       $ 250,000,000      
Maximum                    
Summary Of Significant Accounting Policies [Line Items]                    
Certificates of deposit investments original maturities period             5 years      
Mid Rivers Insurance Group, Inc.                    
Summary Of Significant Accounting Policies [Line Items]                    
Purchase price         $ 10,100,000          
Purdum, Gray, Ingledue, Beck, Inc.                    
Summary Of Significant Accounting Policies [Line Items]                    
Purchase price           $ 10,200,000        
Blackhawk Bancorp, Inc                    
Summary Of Significant Accounting Policies [Line Items]                    
Percentage of issued and outstanding shares acquired   100.00%                
Common stock, par value (in dollars per share) | $ / shares   $ 0.01                
Share Price | $ / shares   $ 4                
Consideration payable in cash   $ 2,000                
Consideration payable in shares | shares   3,290,222                
Conversion of common stock | shares   1.15                
Common stock consideration value   $ 93,508,000                
Purchase price   $ 93,510,000                
Two Rivers Financial Group, Inc                    
Summary Of Significant Accounting Policies [Line Items]                    
Percentage of issued and outstanding shares acquired 100.00%                  
Consideration payable in shares | shares 2,556,140                  
Conversion of common stock | shares 1.225                  
Ray Farm Management Services, Inc's | Customer List Intangibles                    
Summary Of Significant Accounting Policies [Line Items]                    
Purchase price     $ 764,000              
AAdvantage Insurance Group LLC's | Customer List Intangibles                    
Summary Of Significant Accounting Policies [Line Items]                    
Purchase price       $ 2,800,000            
v3.25.4
Basis of Accounting and Consolidation - Summary of Estimated Useful Lives for Major Depreciable Classification of Premises and Equipment (Details)
Dec. 31, 2025
Building and Building Improvements | Minimum  
Property Plant And Equipment [Line Items]  
Property, plant and equipment, useful life 20 years
Building and Building Improvements | Maximum  
Property Plant And Equipment [Line Items]  
Property, plant and equipment, useful life 40 years
Leasehold Improvements | Minimum  
Property Plant And Equipment [Line Items]  
Property, plant and equipment, useful life 5 years
Leasehold Improvements | Maximum  
Property Plant And Equipment [Line Items]  
Property, plant and equipment, useful life 15 years
Furniture and Equipment | Minimum  
Property Plant And Equipment [Line Items]  
Property, plant and equipment, useful life 3 years
Furniture and Equipment | Maximum  
Property Plant And Equipment [Line Items]  
Property, plant and equipment, useful life 7 years
Capitalized Software | Minimum  
Property Plant And Equipment [Line Items]  
Property, plant and equipment, useful life 3 years
Capitalized Software | Maximum  
Property Plant And Equipment [Line Items]  
Property, plant and equipment, useful life 10 years
v3.25.4
Basis of Accounting and Consolidation - Schedule of Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance $ 958,692 $ 846,391 $ 793,204 $ 633,155
Accumulated Other Comprehensive Income (Loss)        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Net unrealized losses on securities available-for-sale (138,930) (194,144)    
Tax expense 37,629 51,761    
Balance $ (101,301) $ (142,383) $ (136,427) $ (151,507)
v3.25.4
Basis of Accounting and Consolidation - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income Loss [Line Items]      
Income tax benefit (expense) $ 685 $ 119 $ (981)
Total reclassifications out of accumulated other comprehensive income (1,824) (314) 2,402
Accumulated Defined Benefit Plans Adjustment Attributable to Parent      
Accumulated Other Comprehensive Income Loss [Line Items]      
Realized gains (losses) on available-for-sale securities (2,509) (433) 3,383
Income tax benefit (expense) 685 119 (981)
Total reclassifications out of accumulated other comprehensive income $ (1,824) $ (314) $ 2,402
v3.25.4
Earnings Per Share - Components of Basic and Diluted Net Income Per Common Share (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Basic net income per common share available to common stockholders:      
Net income available to common stockholders $ 91,749,000 $ 78,898,000 $ 68,935,000
Weighted average common shares outstanding 23,873,495 23,800,523 21,780,217
Basic earnings per common share $ 3.84 $ 3.31 $ 3.17
Diluted net income per common share available to common stockholders:      
Net income available to common stockholders $ 91,749,000 $ 78,898,000 $ 68,935,000
Weighted average common shares outstanding 23,873,495 23,800,523 21,780,217
Dilutive potential common shares:      
Restricted stock awarded 113,013 95,158 88,571
Dilutive potential common shares 113,013 95,158 88,571
Diluted weighted average common shares outstanding 23,986,508 23,895,681 21,868,788
Diluted earnings per common share $ 3.83 $ 3.3 $ 3.15
v3.25.4
Earnings Per Share - Additional Information (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Number of anti-dilutive shares not considered in computing diluted earnings per share 0 0 0
v3.25.4
Cash and Due from Banks - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Cash and Cash Equivalents [Abstract]  
Cash uninsured amount $ 3,700,000
Loss on cash uninsured $ 0
v3.25.4
Investment Securities - Available for Sale and Held for Maturity Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Available-for-sale: [Abstract]    
Amortized Cost $ 1,215,813 $ 1,257,436
Gross Unrealized Gains 2,802 690
Gross Unrealized (Losses) (141,732) (194,834)
Fair Value 1,076,883 1,063,292
Held-to-maturity: [Abstract]    
Held-to-maturity 2,288 2,279
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) 0 0
Fair Value 2,288 2,279
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale: [Abstract]    
Amortized Cost 153,859 212,513
Gross Unrealized Gains 3 3
Gross Unrealized (Losses) (9,782) (21,158)
Fair Value 144,080 191,358
Obligations of States and Political Subdivisions    
Available-for-sale: [Abstract]    
Amortized Cost 327,950 324,046
Gross Unrealized Gains 341 135
Gross Unrealized (Losses) (47,658) (56,441)
Fair Value 280,633 267,740
Mortgage-backed Securities    
Available-for-sale: [Abstract]    
Amortized Cost 705,728 653,760
Gross Unrealized Gains 2,458 552
Gross Unrealized (Losses) (83,520) (114,570)
Fair Value 624,666 539,742
Corporate bonded debt    
Available-for-sale: [Abstract]    
Amortized Cost 28,276 67,117
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (772) (2,665)
Fair Value 27,504 64,452
Other Securities    
Held-to-maturity: [Abstract]    
Held-to-maturity 2,288 2,279
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) 0 0
Fair Value $ 2,288 $ 2,279
v3.25.4
Investment Securities - Additional Information (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Security
Dec. 31, 2024
USD ($)
Security
Dec. 31, 2023
Schedule Of Available For Sale Securities [Line Items]      
Equity securities, at fair value $ 4,588 $ 4,439  
Tax rate used to calculate tax-equivalent yields (in hundredths) 21.00% 21.00% 21.00%
Number of securities in unrealized loss positions | Security 488 557  
Available-for-sale, 12 months or longer, Fair Value $ 888,695 $ 1,001,277  
12 months or longer, unrealized losses $ 141,589 $ 193,568  
v3.25.4
Investment Securities - Schedule of Proceeds From Sales of Available for Sale Investment Securities, Realized Gains and Losses and Income Tax Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Realized Investment Gains (Losses) [Abstract]      
Proceeds from sales $ 51,694 $ 32,338 $ 343,610
Gross gains 2 46 4,381
Gross losses (2,511) (479) (998)
Income tax benefit (expense) $ 685 $ 119 $ (981)
v3.25.4
Investment Securities - Investments Classified by Contractual Maturity Date (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]    
Available-for-sale investments, Fair Value $ 1,076,883 $ 1,063,292
Held-to-maturity, Maturity [Abstract]    
Held-to-maturity, After ten years 2,288  
Held-to-maturity 2,288 2,279
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]    
Available-for-sale investments, Fair Value 144,080 191,358
Obligations of States and Political Subdivisions    
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]    
Available-for-sale investments, Fair Value 280,633 267,740
Mortgage-backed Securities    
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]    
Available-for-sale investments, Fair Value 624,666 539,742
Corporate bonded debt    
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]    
Available-for-sale investments, Fair Value 27,504 64,452
Other Securities    
Held-to-maturity, Maturity [Abstract]    
Held-to-maturity $ 2,288 $ 2,279
v3.25.4
Investment Securities - Fair Value of Investments with Sustained Gross Unrealized Losses (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]    
Available-for-sale, Less than 12 months, Fair Value $ 21,217 $ 22,824
Available-for-sale, Less than 12 months, Unrealized Losses (143) (1,266)
Available-for-sale, 12 months or longer, Fair Value 888,695 1,001,277
Available-for-sale, 12 months or longer, Unrealized losses (141,589) (193,568)
Available-for-sale, Total Fair Value 909,912 1,024,101
Available-for-sale, Total Unrealized Losses (141,732) (194,834)
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]    
Available-for-sale, Less than 12 months, Fair Value 0 1,340
Available-for-sale, Less than 12 months, Unrealized Losses 0 0
Available-for-sale, 12 months or longer, Fair Value 142,833 189,327
Available-for-sale, 12 months or longer, Unrealized losses (9,782) (21,158)
Available-for-sale, Total Fair Value 142,833 190,667
Available-for-sale, Total Unrealized Losses (9,782) (21,158)
Obligations of States and Political Subdivisions    
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]    
Available-for-sale, Less than 12 months, Fair Value 5,923 20,349
Available-for-sale, Less than 12 months, Unrealized Losses (8) (1,248)
Available-for-sale, 12 months or longer, Fair Value 246,076 241,502
Available-for-sale, 12 months or longer, Unrealized losses (47,650) (55,193)
Available-for-sale, Total Fair Value 251,999 261,851
Available-for-sale, Total Unrealized Losses (47,658) (56,441)
Mortgage-backed Securities    
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]    
Available-for-sale, Less than 12 months, Fair Value 11,327 1,135
Available-for-sale, Less than 12 months, Unrealized Losses (102) (18)
Available-for-sale, 12 months or longer, Fair Value 480,583 511,746
Available-for-sale, 12 months or longer, Unrealized losses (83,418) (114,552)
Available-for-sale, Total Fair Value 491,910 512,881
Available-for-sale, Total Unrealized Losses (83,520) (114,570)
Corporate bonded debt    
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]    
Available-for-sale, Less than 12 months, Fair Value 3,967 0
Available-for-sale, Less than 12 months, Unrealized Losses (33) 0
Available-for-sale, 12 months or longer, Fair Value 19,203 58,702
Available-for-sale, 12 months or longer, Unrealized losses (739) (2,665)
Available-for-sale, Total Fair Value 23,170 58,702
Available-for-sale, Total Unrealized Losses $ (772) $ (2,665)
v3.25.4
Investment Securities - Maturities of Investment Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract]    
Available-for-sale, Amortized Cost, Due in one year or less $ 216,897  
Available-for-sale, Amortized Cost, Due in one-five years 285,112  
Available-for-sale, Amortized Cost, Due in five-ten years 7,696  
Available-for-sale, Amortized Cost, Due after ten years 380  
Available-for-sale, Amortized Cost, Total 510,085  
Debt Securities, Available-for-sale, Maturity, Amortized Cost, Rolling Maturity [Abstract]    
Mortgage-backed securities: GSE residential, Amortized Cost 705,728  
Amortized Cost 1,215,813 $ 1,257,436
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract]    
Held-to-maturity, Amortized Cost, Due after ten years 2,288  
Held-to-maturity 2,288 2,279
Available-For-Sale Securities, Debt Maturities, Single Maturity Date, Fair Value single maturity [Abstract]    
Available-for-sale, Estimated Fair Value, Due in one year or less 203,803  
Available-for-sale, Estimated Fair Value, Due after one-five years 240,360  
Available-for-sale, Estimated Fair Value, Due after five-ten years 7,713  
Available-for-sale, Estimated Fair Value, Due after ten years 341  
Available-for-sale, Estimated Fair Value, Total 452,217  
Debt Securities, Available-for-sale, Maturity, Fair Value, Rolling Maturity [Abstract]    
Mortgage-backed securities: GSE residential, Estimated Fair Value 624,666  
Total available-for-sale, Estimated Fair Value 1,076,883  
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract]    
Held-to-maturity, Estimated Fair Value, Due after ten years 2,288  
Total held-to-maturity, Estimated Fair Value $ 2,288 $ 2,279
v3.25.4
Loans and Allowance for Credit Losses - Summary of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans $ 6,039,231 $ 5,710,312    
Less: loans held for sale 5,203 6,614    
Loans and leases receivable gross excluding loans held for sale 6,034,028 5,703,698    
Net deferred loan fees, premiums and discounts 27,857 37,850    
Allowance for credit losses 74,875 70,182 $ 68,675 $ 59,093
Net loans 5,931,296 5,595,666    
Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 4,152,807 3,906,596    
Construction and Land Development | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 361,678 236,258    
Allowance for credit losses 5,129 3,275 2,918 2,250
Agricultural | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 374,143 391,436    
Allowance for credit losses 1,283 1,361 1,366 1,433
Commercial | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 2,582,404 2,442,627    
Allowance for credit losses 35,589 32,669 31,758 28,157
Agricultural Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 307,290 239,138    
Allowance for credit losses 1,401 1,957 705 585
Commercial and Industrial Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 1,385,421 1,340,865    
Allowance for credit losses 26,285 25,602 25,450 20,808
Consumer Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 32,109 54,481    
Allowance for credit losses 1,435 1,739 2,258 2,118
All Other Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 161,604 169,232    
1-4 Family | Residential Properties | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans 494,258 502,243    
Allowance for credit losses 3,753 3,579 $ 4,220 $ 3,742
Multifamily | Residential Properties | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total gross loans $ 340,324 $ 334,032    
v3.25.4
Loans and Allowance for Credit Losses - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Loan_modified
Alternative
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Increase (decrease) in accounts and notes receivable $ 335,600,000      
Accrued interest on loans 35,100,000 $ 33,700,000    
Financing Receivable, before Allowance for Credit Loss, Total $ 6,006,171,000 5,665,848,000    
Number of alternatives for measuring impaired loans receivable | Alternative 3      
Allowance for credit losses $ 74,875,000 70,182,000 $ 68,675,000 $ 59,093,000
Recorded balance of nonaccrual loans 31,053,000 28,775,000    
Interest lost on nonaccrual loans $ 1,200,000 1,400,000 412,000  
Troubled debt restructurings balance | Loan_modified 0      
Real estate acquired through foreclosure $ 2,857,000 2,179,000    
Mortgage loans secured by real estate In foreclosure 1,300,000 2,800,000    
Minimum        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for credit losses $ 250,000,000      
Commercial Real Estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Thresholds percentage of total capital 300.00%      
Recorded balance of nonaccrual loans $ 10,381,000 7,716,000    
Commercial Real Estate | Minimum        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Maximum loan-to-value ratio (in hundredths) 65.00%      
Debt coverage ratio 1.20x      
Amortization period of loans twenty      
Commercial Real Estate | Maximum        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Maximum loan-to-value ratio (in hundredths) 85.00%      
Debt coverage ratio 1.35x      
Amortization period of loans thirty years      
1-4 Family Residential Properties        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Period when loans charged-down 180 days      
Recorded balance of nonaccrual loans $ 5,763,000 4,937,000    
Unsecured Open-end Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Period when loans charged-down 180 days      
Other Secured Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Period when loans charged-down 120 days      
Agricultural        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Maximum loan-to-value ratio (in hundredths) 80.00%      
Loans receivable, time period 1 year      
Agricultural | Minimum        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Amortization period of loans twenty-five      
Agricultural | Maximum        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Amortization period of loans thirty years      
Agricultural | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for credit losses $ 1,283,000 1,361,000 1,366,000 1,433,000
Commercial and Industrial Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Maximum loan-to-value ratio (in hundredths) 80.00%      
Amortization period of loans seven years      
Loans receivable, time period 1 year      
Allowance for credit losses $ 26,285,000 25,602,000 25,450,000 20,808,000
Residential Properties | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Maximum loan-to-value ratio (in hundredths) 80.00%      
Amortization period of loans twenty-five years      
Construction and Land Development        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Thresholds percentage of total capital 100.00%      
Construction and Land Development | Minimum        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing Receivable, before Allowance for Credit Loss, Total $ 2,000,000,000      
Construction and Land Development | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for credit losses $ 5,129,000 3,275,000 2,918,000 2,250,000
Construction and Land Development | Real Estate Loan | Minimum        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Maximum loan-to-value ratio (in hundredths) 65.00%      
Amortization period of loans twenty      
Construction and Land Development | Real Estate Loan | Maximum        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Maximum loan-to-value ratio (in hundredths) 80.00%      
Amortization period of loans thirty years      
Agricultural Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for credit losses $ 1,401,000 1,957,000 705,000 585,000
Consumer Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Allowance for credit losses $ 1,435,000 $ 1,739,000 $ 2,258,000 $ 2,118,000
v3.25.4
Loans and Allowance for Credit Losses - Summary of Gross Commercial Real Estate Loans by Property Type (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans $ 6,039,231 $ 5,710,312
Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 4,152,807 3,906,596
Commercial | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 2,582,404 $ 2,442,627
Commercial | Real Estate Loan | Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 747,512  
Commercial | Real Estate Loan | Shopping Centers and Malls | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 264,961  
Commercial | Real Estate Loan | Industrial and Warehouse | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 237,522  
Commercial | Real Estate Loan | Hotels and Motels | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 218,073  
Commercial | Real Estate Loan | Skilled Nursing Facility | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 187,875  
Commercial | Real Estate Loan | Office | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 160,524  
Commercial | Real Estate Loan | Assisted Living Facility | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 170,733  
Commercial | Real Estate Loan | Retail | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 112,169  
Commercial | Real Estate Loan | RV Parks and Campgrounds | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans 104,267  
Commercial | Real Estate Loan | Other Property Types | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total gross loans $ 378,768  
v3.25.4
Loans and Allowance for Credit Losses - Allowance for Credit Losses Based on Portfolio Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Allowance for loan losses [Abstract]      
Allowance for credit losses, Beginning Balance $ 70,182 $ 68,675 $ 59,093
Initial allowance on loans purchased with credit deterioration 0 0 3,791
Provision for credit loss expense 9,921 5,635 6,104
Loans charged off 7,873 5,748 2,631
Recoveries collected 2,645 1,620 2,318
Allowance for credit losses, Ending Balance 74,875 70,182 68,675
Construction and Land Development | Real Estate Loan      
Allowance for loan losses [Abstract]      
Allowance for credit losses, Beginning Balance 3,275 2,918 2,250
Initial allowance on loans purchased with credit deterioration 0 0 308
Provision for credit loss expense 1,961 352 374
Loans charged off 107 0 14
Recoveries collected 0 5 0
Allowance for credit losses, Ending Balance 5,129 3,275 2,918
Agricultural | Real Estate Loan      
Allowance for loan losses [Abstract]      
Allowance for credit losses, Beginning Balance 1,361 1,366 1,433
Initial allowance on loans purchased with credit deterioration 0 0 0
Provision for credit loss expense (131) (5) (67)
Loans charged off 0 0 0
Recoveries collected 53 0 0
Allowance for credit losses, Ending Balance 1,283 1,361 1,366
Residential Properties | Real Estate Loan | 1-4 Family      
Allowance for loan losses [Abstract]      
Allowance for credit losses, Beginning Balance 3,579 4,220 3,742
Initial allowance on loans purchased with credit deterioration 0 0 124
Provision for credit loss expense 66 (785) 225
Loans charged off 156 195 87
Recoveries collected 264 339 216
Allowance for credit losses, Ending Balance 3,753 3,579 4,220
Commercial | Real Estate Loan      
Allowance for loan losses [Abstract]      
Allowance for credit losses, Beginning Balance 32,669 31,758 28,157
Initial allowance on loans purchased with credit deterioration 0 0 1,066
Provision for credit loss expense 4,003 1,178 1,755
Loans charged off 1,197 451 25
Recoveries collected 114 184 805
Allowance for credit losses, Ending Balance 35,589 32,669 31,758
Agricultural Loans      
Allowance for loan losses [Abstract]      
Allowance for credit losses, Beginning Balance 1,957 705 585
Initial allowance on loans purchased with credit deterioration 0 0 0
Provision for credit loss expense 925 3,587 490
Loans charged off 2,503 2,410 408
Recoveries collected 1,022 75 38
Allowance for credit losses, Ending Balance 1,401 1,957 705
Commercial and Industrial Loans      
Allowance for loan losses [Abstract]      
Allowance for credit losses, Beginning Balance 25,602 25,450 20,808
Initial allowance on loans purchased with credit deterioration 0 0 2,273
Provision for credit loss expense 2,582 510 2,322
Loans charged off 2,485 688 529
Recoveries collected 586 330 576
Allowance for credit losses, Ending Balance 26,285 25,602 25,450
Consumer Loans      
Allowance for loan losses [Abstract]      
Allowance for credit losses, Beginning Balance 1,739 2,258 2,118
Initial allowance on loans purchased with credit deterioration 0 0 20
Provision for credit loss expense 515 798 1,005
Loans charged off 1,425 2,004 1,568
Recoveries collected 606 687 683
Allowance for credit losses, Ending Balance $ 1,435 $ 1,739 $ 2,258
v3.25.4
Loans and Allowance for Credit Losses - Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans Individually Evaluated (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment $ 49,626 $ 18,209
Allowance for Credit Losses 489 1,244
Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment   10,126
Allowance for Credit Losses   788
Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 7,152 1,291
Allowance for Credit Losses 392 260
All Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 11,184 0
Allowance for Credit Losses 84 0
Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 31,290 7,449
Real Estate | Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment   600
Real Estate | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 57
Real Estate | All Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Business Assets    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 18,307 10,760
Business Assets | Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment   9,526
Business Assets | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 7,123 1,234
Business Assets | All Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 11,184 0
Other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 29 0
Other | Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment   0
Other | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 29 0
Other | All Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 31,290 6,792
Allowance for Credit Losses 13 196
Real Estate Loan | Agricultural    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 111 1,107
Allowance for Credit Losses 0 0
Real Estate Loan | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 30,208 4,430
Allowance for Credit Losses 13 196
Real Estate Loan | Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 31,290 6,792
Real Estate Loan | Real Estate | Agricultural    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 111 1,107
Real Estate Loan | Real Estate | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 30,208 4,430
Real Estate Loan | Business Assets    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Real Estate Loan | Business Assets | Agricultural    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Real Estate Loan | Business Assets | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Real Estate Loan | Other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Real Estate Loan | Other | Agricultural    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Real Estate Loan | Other | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
1-4 Family | Real Estate Loan | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 600 360
Allowance for Credit Losses 0 0
1-4 Family | Real Estate Loan | Real Estate | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 600 360
1-4 Family | Real Estate Loan | Business Assets | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
1-4 Family | Real Estate Loan | Other | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Multifamily | Real Estate Loan | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 371 895
Allowance for Credit Losses 0 0
Multifamily | Real Estate Loan | Real Estate | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 371 895
Multifamily | Real Estate Loan | Business Assets | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Multifamily | Real Estate Loan | Other | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment $ 0 $ 0
v3.25.4
Loans and Allowance for Credit Losses - Credit Risk Profile of Loan Portfolio Based on Risk Rating Category and Payment Activity (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Credit Quality Information [Abstract]    
Current fiscal year $ 1,361,714 $ 862,051
Fiscal year before current fiscal year 649,961 653,404
Two years before current fiscal year 437,734 1,261,147
Three years before current fiscal year 1,059,821 891,374
Four years before current fiscal year 806,863 546,507
Prior 1,601,795 1,377,588
Revolving Loans 93,486 80,391
Current period gross writeoffs, current fiscal year 5 108
Current period gross writeoffs, fiscal year before current fiscal year 1,014 2,369
Current period gross writeoffs, two year before current fiscal year 1,387 625
Current period gross writeoffs, three year before current fiscal year 1,551 602
Current period gross writeoffs, four year before current fiscal year 846 69
Current period gross writeoffs, prior 3,070 1,975
Current period gross writeoffs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 6,011,374 5,672,462
Current period gross writeoffs, total loans receivables 7,873 5,748
Pass    
Credit Quality Information [Abstract]    
Current fiscal year 1,339,692 859,452
Fiscal year before current fiscal year 632,760 626,738
Two years before current fiscal year 412,275 1,245,490
Three years before current fiscal year 1,007,252 885,295
Four years before current fiscal year 801,276 542,310
Prior 1,525,024 1,340,099
Revolving Loans 92,629 79,714
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 5,810,908 5,579,098
Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 20,846 1,505
Fiscal year before current fiscal year 9,684 17,281
Two years before current fiscal year 4,907 6,668
Three years before current fiscal year 43,446 4,213
Four years before current fiscal year 1,756 3,488
Prior 39,871 24,634
Revolving Loans 0 59
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 120,510 57,848
Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 1,176 1,094
Fiscal year before current fiscal year 7,517 9,385
Two years before current fiscal year 20,552 8,989
Three years before current fiscal year 9,123 1,866
Four years before current fiscal year 3,831 709
Prior 36,900 12,855
Revolving Loans 857 618
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 79,956 35,516
Agricultural Loans    
Credit Quality Information [Abstract]    
Current fiscal year 232,326 176,862
Fiscal year before current fiscal year 45,804 33,324
Two years before current fiscal year 10,179 16,332
Three years before current fiscal year 10,996 9,262
Four years before current fiscal year 6,410 1,585
Prior 2,560 2,306
Revolving Loans 0 0
Current period gross writeoffs, current fiscal year 0 0
Current period gross writeoffs, fiscal year before current fiscal year 280 2,213
Current period gross writeoffs, two year before current fiscal year 1,081 100
Current period gross writeoffs, three year before current fiscal year 836 52
Current period gross writeoffs, four year before current fiscal year 306 0
Current period gross writeoffs, prior 0 45
Current period gross writeoffs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 308,275 239,671
Current period gross writeoffs, total loans receivables 2,503 2,410
Agricultural Loans | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 230,666 175,402
Fiscal year before current fiscal year 45,361 24,024
Two years before current fiscal year 7,684 13,147
Three years before current fiscal year 10,151 9,162
Four years before current fiscal year 6,363 1,585
Prior 2,560 2,306
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 302,785 225,626
Agricultural Loans | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 1,209 617
Fiscal year before current fiscal year 76 2,208
Two years before current fiscal year 11 976
Three years before current fiscal year 0 100
Four years before current fiscal year 23 0
Prior 0 0
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 1,319 3,901
Agricultural Loans | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 451 843
Fiscal year before current fiscal year 367 7,092
Two years before current fiscal year 2,484 2,209
Three years before current fiscal year 845 0
Four years before current fiscal year 24 0
Prior 0 0
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 4,171 10,144
Commercial Industrial And Other Portfolio Segment    
Credit Quality Information [Abstract]    
Current fiscal year 451,351 307,904
Fiscal year before current fiscal year 225,203 230,970
Two years before current fiscal year 87,699 280,911
Three years before current fiscal year 219,631 184,236
Four years before current fiscal year 159,309 132,123
Prior 399,887 369,008
Revolving Loans 0 0
Current period gross writeoffs, current fiscal year 0 10
Current period gross writeoffs, fiscal year before current fiscal year 0 47
Current period gross writeoffs, two year before current fiscal year 163 207
Current period gross writeoffs, three year before current fiscal year 225 378
Current period gross writeoffs, four year before current fiscal year 497 10
Current period gross writeoffs, prior 1,600 36
Current period gross writeoffs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 1,543,080 1,505,152
Current period gross writeoffs, total loans receivables 2,485 688
Commercial Industrial And Other Portfolio Segment | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 431,942 307,785
Fiscal year before current fiscal year 214,908 228,411
Two years before current fiscal year 82,977 278,845
Three years before current fiscal year 210,658 183,042
Four years before current fiscal year 159,029 131,005
Prior 357,077 360,610
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 1,456,591 1,489,698
Commercial Industrial And Other Portfolio Segment | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 19,409 54
Fiscal year before current fiscal year 8,898 1,149
Two years before current fiscal year 2,542 1,277
Three years before current fiscal year 7,965 748
Four years before current fiscal year 61 1,020
Prior 26,193 7,583
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 65,068 11,831
Commercial Industrial And Other Portfolio Segment | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 0 65
Fiscal year before current fiscal year 1,397 1,410
Two years before current fiscal year 2,180 789
Three years before current fiscal year 1,008 446
Four years before current fiscal year 219 98
Prior 16,617 815
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 21,421 3,623
Consumer Loans    
Credit Quality Information [Abstract]    
Current fiscal year 5,619 5,110
Fiscal year before current fiscal year 2,585 5,159
Two years before current fiscal year 2,821 24,703
Three years before current fiscal year 13,054 12,026
Four years before current fiscal year 5,643 4,548
Prior 2,196 2,414
Revolving Loans 0 0
Current period gross writeoffs, current fiscal year 5 98
Current period gross writeoffs, fiscal year before current fiscal year 23 63
Current period gross writeoffs, two year before current fiscal year 27 154
Current period gross writeoffs, three year before current fiscal year 99 139
Current period gross writeoffs, four year before current fiscal year 43 59
Current period gross writeoffs, prior 1,228 1,491
Current period gross writeoffs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 31,918 53,960
Current period gross writeoffs, total loans receivables 1,425 2,004
Consumer Loans | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 5,619 5,098
Fiscal year before current fiscal year 2,555 5,138
Two years before current fiscal year 2,812 24,430
Three years before current fiscal year 12,861 11,810
Four years before current fiscal year 5,511 4,494
Prior 2,119 2,385
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 31,477 53,355
Consumer Loans | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 0 0
Fiscal year before current fiscal year 0 0
Two years before current fiscal year 0 14
Three years before current fiscal year 22 0
Four years before current fiscal year 0 0
Prior 0 0
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 22 14
Consumer Loans | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 0 12
Fiscal year before current fiscal year 30 21
Two years before current fiscal year 9 259
Three years before current fiscal year 171 216
Four years before current fiscal year 132 54
Prior 77 29
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 419 591
Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 4,128,101 3,873,679
Real Estate Loan | Construction and Land Development    
Credit Quality Information [Abstract]    
Current fiscal year 114,696 82,696
Fiscal year before current fiscal year 99,757 101,715
Two years before current fiscal year 120,000 14,396
Three years before current fiscal year 5,172 15,817
Four years before current fiscal year 6,048 4,735
Prior 15,014 16,734
Revolving Loans 0 0
Current period gross writeoffs, current fiscal year 0 0
Current period gross writeoffs, fiscal year before current fiscal year 0 0
Current period gross writeoffs, two year before current fiscal year 107 0
Current period gross writeoffs, three year before current fiscal year 0  
Current period gross writeoffs, four year before current fiscal year 0 0
Current period gross writeoffs, prior 0 0
Current period gross writeoffs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 360,687 236,093
Current period gross writeoffs, total loans receivables 107 0
Real Estate Loan | Construction and Land Development | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 114,696 82,696
Fiscal year before current fiscal year 99,757 101,715
Two years before current fiscal year 119,602 14,390
Three years before current fiscal year 5,167 15,817
Four years before current fiscal year 6,048 4,735
Prior 14,659 16,342
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 359,929 235,695
Real Estate Loan | Construction and Land Development | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year   0
Fiscal year before current fiscal year   0
Two years before current fiscal year   0
Three years before current fiscal year   0
Four years before current fiscal year   0
Prior   382
Revolving Loans   0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable   382
Real Estate Loan | Construction and Land Development | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 0 0
Fiscal year before current fiscal year 0 0
Two years before current fiscal year 0 6
Three years before current fiscal year 5 0
Four years before current fiscal year 0 0
Prior 7 10
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 12 16
Real Estate Loan | Agricultural    
Credit Quality Information [Abstract]    
Current fiscal year 43,584 25,824
Fiscal year before current fiscal year 22,573 17,625
Two years before current fiscal year 13,415 160,506
Three years before current fiscal year 130,517 56,069
Four years before current fiscal year 63,080 50,455
Prior 100,239 80,281
Revolving Loans 0 0
Current period gross writeoffs, current fiscal year 0 0
Current period gross writeoffs, fiscal year before current fiscal year 0 0
Current period gross writeoffs, two year before current fiscal year 0 0
Current period gross writeoffs, three year before current fiscal year   0
Current period gross writeoffs, four year before current fiscal year 0 0
Current period gross writeoffs, prior 0 0
Current period gross writeoffs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 373,408 390,760
Current period gross writeoffs, total loans receivables 0 0
Real Estate Loan | Agricultural | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 42,758 25,824
Fiscal year before current fiscal year 22,040 17,292
Two years before current fiscal year 12,609 159,433
Three years before current fiscal year 107,950 55,083
Four years before current fiscal year 61,357 48,700
Prior 87,939 73,592
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 334,653 379,924
Real Estate Loan | Agricultural | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 228 0
Fiscal year before current fiscal year 339 192
Two years before current fiscal year 806 107
Three years before current fiscal year 22,343 986
Four years before current fiscal year 1,331 1,755
Prior 7,810 5,630
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 32,857 8,670
Real Estate Loan | Agricultural | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 598 0
Fiscal year before current fiscal year 194 141
Two years before current fiscal year 0 966
Three years before current fiscal year 224 0
Four years before current fiscal year 392 0
Prior 4,490 1,059
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 5,898 2,166
Real Estate Loan | Commercial And Multifamily Portfolio Segment    
Credit Quality Information [Abstract]    
Current fiscal year 459,831 216,956
Fiscal year before current fiscal year 222,469 227,485
Two years before current fiscal year 174,368 688,599
Three years before current fiscal year 616,668 537,576
Four years before current fiscal year 501,098 290,568
Prior 929,718 789,045
Revolving Loans 0 0
Current period gross writeoffs, current fiscal year 0 0
Current period gross writeoffs, fiscal year before current fiscal year 699 0
Current period gross writeoffs, two year before current fiscal year 0 151
Current period gross writeoffs, three year before current fiscal year 391 0
Current period gross writeoffs, four year before current fiscal year 0 0
Current period gross writeoffs, prior 107 300
Current period gross writeoffs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 2,904,152 2,750,229
Current period gross writeoffs, total loans receivables 1,197 451
Real Estate Loan | Commercial And Multifamily Portfolio Segment | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 459,831 216,297
Fiscal year before current fiscal year 217,098 213,704
Two years before current fiscal year 157,923 680,665
Three years before current fiscal year 597,491 535,056
Four years before current fiscal year 498,456 289,855
Prior 916,195 774,516
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 2,846,994 2,710,093
Real Estate Loan | Commercial And Multifamily Portfolio Segment | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 0 659
Fiscal year before current fiscal year 371 13,732
Two years before current fiscal year 1,150 4,090
Three years before current fiscal year 12,931 2,053
Four years before current fiscal year 248 713
Prior 4,760 10,462
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 19,460 31,709
Real Estate Loan | Commercial And Multifamily Portfolio Segment | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 0 0
Fiscal year before current fiscal year 5,000 49
Two years before current fiscal year 15,295 3,844
Three years before current fiscal year 6,246 467
Four years before current fiscal year 2,394 0
Prior 8,763 4,067
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 37,698 8,427
Real Estate Loan | Consumer Loans | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 0  
Fiscal year before current fiscal year 0  
Two years before current fiscal year 398  
Three years before current fiscal year 0  
Four years before current fiscal year 0  
Prior 348  
Revolving Loans 0  
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 746  
1-4 Family | Real Estate Loan    
Credit Quality Information [Abstract]    
Current fiscal year 54,307 46,699
Fiscal year before current fiscal year 31,570 37,126
Two years before current fiscal year 29,252 75,700
Three years before current fiscal year 63,783 76,388
Four years before current fiscal year 65,275 62,493
Prior 152,181 117,800
Revolving Loans 93,486 80,391
Current period gross writeoffs, current fiscal year 0 0
Current period gross writeoffs, fiscal year before current fiscal year 12 46
Current period gross writeoffs, two year before current fiscal year 9 13
Current period gross writeoffs, three year before current fiscal year 0 33
Current period gross writeoffs, four year before current fiscal year 0 0
Current period gross writeoffs, prior 135 103
Current period gross writeoffs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 489,854 496,597
Current period gross writeoffs, total loans receivables 156 195
1-4 Family | Real Estate Loan | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 54,180 46,350
Fiscal year before current fiscal year 31,041 36,454
Two years before current fiscal year 28,668 74,580
Three years before current fiscal year 62,974 75,325
Four years before current fiscal year 64,512 61,936
Prior 144,475 110,348
Revolving Loans 92,629 79,714
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 478,479 484,707
1-4 Family | Real Estate Loan | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 0 175
Fiscal year before current fiscal year 0 0
Two years before current fiscal year 0 204
Three years before current fiscal year 185 326
Four years before current fiscal year 93 0
Prior 760 577
Revolving Loans 0 59
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 1,038 1,341
1-4 Family | Real Estate Loan | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 127 174
Fiscal year before current fiscal year 529 672
Two years before current fiscal year 584 916
Three years before current fiscal year 624 737
Four years before current fiscal year 670 557
Prior 6,946 6,875
Revolving Loans 857 618
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable $ 10,337 $ 10,549
v3.25.4
Loans and Allowance for Credit Losses - Loan Portfolio, on Amortized Cost Basis, Aging Analysis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Loans Receivable Aging Analysis [Abstract]    
Total Past Due $ 6,006,171 $ 5,665,848
Total Loans Receivable 6,011,374 5,672,462
Total Loans> 90 Days and Accruing 0 0
Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 4,128,101 3,873,679
Total Loans> 90 Days and Accruing 0 0
Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 489,854 496,597
Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 360,687 236,093
Total Loans> 90 Days and Accruing 0 0
Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 373,408 390,760
Total Loans> 90 Days and Accruing 0 0
Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 489,854 496,597
Total Loans> 90 Days and Accruing 0 0
Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 339,482 332,644
Total Loans> 90 Days and Accruing 0 0
Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 2,564,670 2,417,585
Total Loans> 90 Days and Accruing 0 0
Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 308,275 239,671
Total Loans> 90 Days and Accruing 0 0
Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 1,381,598 1,335,920
Total Loans> 90 Days and Accruing 0 0
Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 31,918 53,960
Total Loans> 90 Days and Accruing 0 0
All Other Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 161,482 169,232
Total Loans> 90 Days and Accruing 0 0
Financial Asset, 30 to 59 Days Past Due    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 6,180 4,139
Financial Asset, 30 to 59 Days Past Due | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 5,437 2,810
Financial Asset, 30 to 59 Days Past Due | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 6
Financial Asset, 30 to 59 Days Past Due | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, 30 to 59 Days Past Due | Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 4,725 2,209
Financial Asset, 30 to 59 Days Past Due | Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, 30 to 59 Days Past Due | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 712 595
Financial Asset, 30 to 59 Days Past Due | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 550
Financial Asset, 30 to 59 Days Past Due | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 414 337
Financial Asset, 30 to 59 Days Past Due | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 329 442
Financial Asset, 30 to 59 Days Past Due | All Other Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, 60 to 89 Days Past Due    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 2,126 1,621
Financial Asset, 60 to 89 Days Past Due | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,858 1,484
Financial Asset, 60 to 89 Days Past Due | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, 60 to 89 Days Past Due | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, 60 to 89 Days Past Due | Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,630 931
Financial Asset, 60 to 89 Days Past Due | Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, 60 to 89 Days Past Due | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 228 553
Financial Asset, 60 to 89 Days Past Due | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 19 0
Financial Asset, 60 to 89 Days Past Due | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 205 89
Financial Asset, 60 to 89 Days Past Due | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 44 48
Financial Asset, 60 to 89 Days Past Due | All Other Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, Equal to or Greater than 90 Days Past Due    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 9,214 5,301
Financial Asset, Equal to or Greater than 90 Days Past Due | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 8,199 3,438
Financial Asset, Equal to or Greater than 90 Days Past Due | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, Equal to or Greater than 90 Days Past Due | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 841 533
Financial Asset, Equal to or Greater than 90 Days Past Due | Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,687 2,089
Financial Asset, Equal to or Greater than 90 Days Past Due | Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 472
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 5,671 344
Financial Asset, Equal to or Greater than 90 Days Past Due | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 1,289
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 904 463
Financial Asset, Equal to or Greater than 90 Days Past Due | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 111 111
Financial Asset, Equal to or Greater than 90 Days Past Due | All Other Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Total Past Due    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due $ 17,520 $ 11,061
Percent of total loans 0.29% 0.19%
Total Past Due | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due $ 15,494 $ 7,732
Total Past Due | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 6
Total Past Due | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 841 533
Total Past Due | Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 8,042 5,229
Total Past Due | Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 472
Total Past Due | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 6,611 1,492
Total Past Due | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 19 1,839
Total Past Due | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,523 889
Total Past Due | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 484 601
Total Past Due | All Other Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Current    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 5,993,854 5,661,401
Current | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 4,112,607 3,865,947
Current | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 360,687 236,087
Current | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 372,567 390,227
Current | Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 481,812 491,368
Current | Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 339,482 332,172
Current | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 2,558,059 2,416,093
Current | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 308,256 237,832
Current | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,380,075 1,335,031
Current | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 31,434 53,359
Current | All Other Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due $ 161,482 $ 169,232
v3.25.4
Loans and Allowance for Credit Losses - Recorded Balance of Loans on Nonaccrual Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance $ 19,981 $ 14,318
Financing Receivable, Nonaccrual 31,053 28,775
Construction and Land Development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 5 6
Financing Receivable, Nonaccrual 5 6
Agricultural Real Estate Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 1,181 2,213
Financing Receivable, Nonaccrual 1,181 2,213
1-4 Family Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 4,940 4,196
Financing Receivable, Nonaccrual 5,763 4,937
Multifamily Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 371 0
Financing Receivable, Nonaccrual 371 0
Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 10,109 4,901
Financing Receivable, Nonaccrual 10,381 7,716
Loans Secured by Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 16,606 11,316
Financing Receivable, Nonaccrual 17,701 14,872
Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 19 1,371
Financing Receivable, Nonaccrual 19 11,521
Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 1,232 1,320
Financing Receivable, Nonaccrual 1,967 2,071
Consumer Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 182 311
Financing Receivable, Nonaccrual 182 311
All Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 1,942 0
Financing Receivable, Nonaccrual $ 11,184 $ 0
v3.25.4
Loans and Allowance for Credit Losses - Amortized Cost Basis of Loans Experiencing Financial Difficulty and Modified (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.05% 0.05%
Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.04% 0.05%
Consumer Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.00% 0.00%
Agricultural Real Estate Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.00% 0.01%
Residential Properties | Real Estate Loan | 1-4 Family    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.02% 0.01%
Commercial Real Estate | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.02% 0.03%
Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.01% 0.00%
Payment Delay Investment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance $ 1,580 $ 1,339
Payment Delay Investment | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 872 1,201
Payment Delay Investment | Consumer Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 0 2
Payment Delay Investment | Agricultural Real Estate Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 288 309
Payment Delay Investment | Residential Properties | Real Estate Loan | 1-4 Family    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 9 45
Payment Delay Investment | Commercial Real Estate | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 575 847
Payment Delay Investment | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 708 136
Term Extension Modifications    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 1,162 1,046
Term Extension Modifications | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 1,085 946
Term Extension Modifications | Consumer Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 4 8
Term Extension Modifications | Agricultural Real Estate Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 0 0
Term Extension Modifications | Residential Properties | Real Estate Loan | 1-4 Family    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 1,085 758
Term Extension Modifications | Commercial Real Estate | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 0 188
Term Extension Modifications | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 73 92
Interest Rate Reduction    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 505 472
Interest Rate Reduction | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 505 472
Interest Rate Reduction | Consumer Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 0 0
Interest Rate Reduction | Agricultural Real Estate Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 0 0
Interest Rate Reduction | Residential Properties | Real Estate Loan | 1-4 Family    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 0 0
Interest Rate Reduction | Commercial Real Estate | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 505 472
Interest Rate Reduction | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance $ 0 $ 0
v3.25.4
Loans and Allowance for Credit Losses - Performance of Loans Modified (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
30-59 Days Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment $ 0
60-89 Days Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 1,228
90 Days or More Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 0
Total Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 1,228
Loans Secured by Real Estate | 30-59 Days Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 0
Loans Secured by Real Estate | 60-89 Days Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 505
Loans Secured by Real Estate | 90 Days or More Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 0
Loans Secured by Real Estate | Total Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 505
Commercial Real Estate | 30-59 Days Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 0
Commercial Real Estate | 60-89 Days Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 505
Commercial Real Estate | 90 Days or More Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 0
Commercial Real Estate | Total Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 505
Commercial and Industrial Loans | 30-59 Days Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 0
Commercial and Industrial Loans | 60-89 Days Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 723
Commercial and Industrial Loans | 90 Days or More Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment 0
Commercial and Industrial Loans | Total Past Due  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Financing Receivable Modifications Performance Recorded Investment $ 723
v3.25.4
Loans and Allowance for Credit Losses - Financial Effect of Loan Modifications (Details)
 12 Months Ended
Dec. 31, 2025
1-4 Family | Real Estate Loan  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted Average Interest Rate Reduction 0.00%
Weighted Average Term Extension (in months)
Agricultural Real Estate | Real Estate Loan  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted Average Interest Rate Reduction 0.00%
Weighted Average Term Extension (in months)
Commercial Real Estate  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted Average Interest Rate Reduction 0.00%
Weighted Average Term Extension (in months)
Commercial and Industrial Loans  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted Average Interest Rate Reduction 0.00%
Weighted Average Term Extension (in months)
Consumer Loans  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted Average Interest Rate Reduction 0.00%
Weighted Average Term Extension (in months)
Other Loans  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Weighted Average Interest Rate Reduction 0.00%
Weighted Average Term Extension (in months)
v3.25.4
Loans and Allowance for Credit Losses - Summary of Purchased Credit Deteriorated (PCD) Loans (Details) - Blackhawk Acquisition [Member]
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Summary Of Purchased Credit Deteriorated Loans [Line Items]  
Purchased credit deteriorated loans $ 115,250
PCD allowance for credit losses at acquisition (3,791)
Non-credit discount/(premium) at acquisition (5,476)
Fair value of purchased credit deteriorated loans at acquisition $ 105,983
v3.25.4
Premises and Equipment, Net - Summary of Premises and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Property Plant And Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 130,674 $ 137,163
Accumulated depreciation and amortization 39,892 36,929
Total 90,782 100,234
Land    
Property Plant And Equipment [Line Items]    
Property, Plant and Equipment, Gross 28,523 35,355
Buildings and Improvements    
Property Plant And Equipment [Line Items]    
Property, Plant and Equipment, Gross 67,201 71,814
Furniture and Equipment    
Property Plant And Equipment [Line Items]    
Property, Plant and Equipment, Gross 21,678 20,154
Leasehold Improvements    
Property Plant And Equipment [Line Items]    
Property, Plant and Equipment, Gross 5,377 5,054
Capitalized Software    
Property Plant And Equipment [Line Items]    
Property, Plant and Equipment, Gross 7,243 3,233
Construction in Progress    
Property Plant And Equipment [Line Items]    
Property, Plant and Equipment, Gross $ 652 $ 1,553
v3.25.4
Premises and Equipment, Net - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net Occupancy and Equipment Expense      
Property, Plant and Equipment [Line Items]      
Depreciation Expense $ 5.2 $ 4.9 $ 5.0
v3.25.4
Goodwill and Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Finite Lived Intangible Assets [Line Items]    
Goodwill, Gross Carrying Value $ 207,151 $ 207,151
Goodwill, Accumulated Amortization 3,760 3,760
Goodwill and Intangible Assets, Gross Carrying Value 324,531 320,968
Goodwill and Intangible Assets, Accumulated Amortization 76,081 64,691
Core Deposit Intangibles    
Finite Lived Intangible Assets [Line Items]    
Intangible Assets, Gross Carrying Value 79,945 79,945
Intangible Assets, Accumulated Amortization 53,285 44,736
Customer List Intangibles    
Finite Lived Intangible Assets [Line Items]    
Intangible Assets, Gross Carrying Value 34,420 30,857
Intangible Assets, Accumulated Amortization $ 16,021 $ 13,180
v3.25.4
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
 1 Months Ended 3 Months Ended 12 Months Ended
Mar. 20, 2023
Dec. 31, 2025
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2025
Dec. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Finite Lived Intangible Assets [Line Items]                
Intangible assets amortization period   15 years     15 years      
Goodwill, net   $ 203,391,000     $ 203,391,000 $ 203,391,000    
Principal balance of mortgage loans serviced for others   $ 509,700,000     $ 509,700,000 $ 572,600,000    
Weighted average amortization period of intangibles         3 years 5 months 8 days      
Core Deposit Intangibles                
Finite Lived Intangible Assets [Line Items]                
Intangible assets amortization period   10 years     10 years      
Weighted average amortization period of intangibles         2 years 10 months 28 days      
Customer List Intangibles                
Finite Lived Intangible Assets [Line Items]                
Weighted average amortization period of intangibles         4 years 2 months 19 days      
Maximum | Customer List Intangibles                
Finite Lived Intangible Assets [Line Items]                
Intangible assets amortization period   12 years     12 years      
Minimum | Customer List Intangibles                
Finite Lived Intangible Assets [Line Items]                
Intangible assets amortization period   3 years     3 years      
Mid Rivers                
Finite Lived Intangible Assets [Line Items]                
Goodwill acquired during period       $ 6,900,000        
Goodwill, net       $ 6,930,000        
Blackhawk Bancorp, Inc                
Finite Lived Intangible Assets [Line Items]                
Goodwill acquired during period $ 50,100,000              
Goodwill, net             $ 50,097,000  
Blackhawk Bancorp, Inc | Core Deposit Intangibles                
Finite Lived Intangible Assets [Line Items]                
Intangible assets amortization period 10 years              
Purdum, Gray, Ingledue, Beck, Inc.                
Finite Lived Intangible Assets [Line Items]                
Goodwill, net               $ 5,951,000
AAdvantage Insurance Group LLC's | Customer List Intangibles                
Finite Lived Intangible Assets [Line Items]                
Intangible assets acquired     $ 2,800,000          
Ray Farm Management Services, Inc's | Customer List Intangibles                
Finite Lived Intangible Assets [Line Items]                
Intangible assets acquired   $ 764,000            
v3.25.4
Goodwill and Intangible Assets - Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded (Details) - USD ($)
$ in Thousands
 3 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2025
Dec. 31, 2024
Less purchase accounting adjustments:          
Resulting goodwill from acquisition       $ 203,391 $ 203,391
Mid Rivers          
Goodwill [Line Items]          
Unallocated purchase price $ 10,059        
Less purchase accounting adjustments:          
Insurance Company intangible 4,305        
Other liabilities (1,176)        
Goodwill, purchase accounting adjustments 3,129        
Resulting goodwill from acquisition $ 6,930        
Blackhawk Bancorp, Inc          
Goodwill [Line Items]          
Unallocated purchase price   $ 26,955      
Less purchase accounting adjustments:          
Fair value of securities   (25,521)      
Fair value of loans, net   (43,477)      
Fair value of premises and equipment   (3,856)      
Fair value of time deposits   2,311      
Fair value of subordinated and jr subordinated debentures   3,707      
Increase in core deposit intangible   33,731      
Increase in mortgage servicing rights   3,344      
Other assets   6,619      
Goodwill, purchase accounting adjustments   (23,142)      
Resulting goodwill from acquisition   $ 50,097      
Purdum, Gray, Ingledue, Beck, Inc.          
Goodwill [Line Items]          
Unallocated purchase price     $ 10,145    
Less purchase accounting adjustments:          
Insurance Company intangible     5,770    
Other liabilities     (1,576)    
Goodwill, purchase accounting adjustments     4,194    
Resulting goodwill from acquisition     $ 5,951    
v3.25.4
Goodwill and Intangible Assets - Intangible Assets Mortgage Servicing Rights (Details) - Mortgage Servicing Rights - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Finite Lived Intangible Assets [Line Items]    
Beginning balance $ 5,629 $ 6,859
Adjustment to valuation reserve 1 7
Mortgage servicing rights amortized (1,053) (1,226)
Interest only strip (11) (11)
Ending balance 4,566 5,629
Fair value of portfolio $ 5,596 $ 6,716
v3.25.4
Goodwill and Intangible Assets - Schedule of Intangible Assets Amortization Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]      
Amortization of intangible assets $ 12,443 $ 13,556 $ 9,127
Core Deposit Intangibles      
Finite Lived Intangible Assets [Line Items]      
Amortization of intangible assets 8,549 9,770 6,534
Customer List Intangibles      
Finite Lived Intangible Assets [Line Items]      
Amortization of intangible assets 2,841 2,560 2,069
Mortgage Servicing Rights      
Finite Lived Intangible Assets [Line Items]      
Amortization of intangible assets $ 1,053 $ 1,226 $ 524
v3.25.4
Goodwill and Intangible Assets - Schedule of Expected Amortization Expense (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Estimated amortization expense [Abstract]  
For year ended 12/31/26 $ 10,925
For year ended 12/31/27 9,661
For year ended 12/31/28 8,447
For year ended 12/31/29 7,095
For year ended 12/31/30 $ 5,417
v3.25.4
Deposits - Summary of Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Demand deposits:    
Non-interest bearing $ 1,392,534 $ 1,329,155
Interest-bearing 2,095,370 1,907,734
Savings 639,412 636,427
Money market 1,138,464 1,196,537
Time deposits 1,129,493 987,243
Total deposits $ 6,395,273 $ 6,057,096
v3.25.4
Deposits - Summary of Aggregate Amount of Time Deposits more than 250,000 (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deposits [Abstract]      
Time deposit balances in denominations of more than $250,000 $ 419,929 $ 341,432 $ 282,028
v3.25.4
Deposits - Summary of Maturities for All Time Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Maturities of Time Deposits [Abstract]    
Less than 1 year $ 988,464  
1 year to 3 years 123,759  
3 years to 5 years 17,270  
Over 5 years 0  
Total $ 1,129,493 $ 987,243
v3.25.4
Deposits - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Demand deposits:    
Total of Public entitiy balances $ 193.6 $ 261.2
v3.25.4
Repurchase Agreements and Other Borrowings - Schedule of Borrowings (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Schedule of Borrowings [Line Items]    
Federal Home Loan Bank-overnight $ 0 $ 90,000
Federal Home Loan Bank (FHLB) fixed-term advances 270,000 152,520
Subordinated debt, net 60,008 87,472
Junior subordinated debentures 24,454 24,280
Short Term and Long Term Borrowings 551,178 558,394
Securities Sold under Agreements to Repurchase    
Schedule of Borrowings [Line Items]    
Short-term debt $ 196,716 $ 204,122
v3.25.4
Repurchase Agreements and Other Borrowings - Schedule of Aggregate Annual Maturities of Long-Term Borrowings (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Maturities of Long-term Debt [Abstract]  
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months $ 25,000
Long-term Debt, Maturities, Repayments of Principal in Year Two 50,000
Long-term Debt, Maturities, Repayments of Principal in Year Three 25,000
Long-term Debt, Maturities, Repayments of Principal in Year Four 45,000
Long-term Debt, Maturities, Repayments of Principal in Year Five 156,000
Long-term Debt, Maturities, Repayments of Principal after Year Five 55,775
Long-term debt, gross 356,775
Unamortized discount (2,313)
Long-term Debt 354,462
FHLB Advances  
Maturities of Long-term Debt [Abstract]  
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months 25,000
Long-term Debt, Maturities, Repayments of Principal in Year Two 50,000
Long-term Debt, Maturities, Repayments of Principal in Year Three 25,000
Long-term Debt, Maturities, Repayments of Principal in Year Four 45,000
Long-term Debt, Maturities, Repayments of Principal in Year Five 100,000
Long-term Debt, Maturities, Repayments of Principal after Year Five 25,000
Long-term debt, gross 270,000
Unamortized discount 0
Long-term Debt 270,000
Subordinated Debt  
Maturities of Long-term Debt [Abstract]  
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months 0
Long-term Debt, Maturities, Repayments of Principal in Year Two 0
Long-term Debt, Maturities, Repayments of Principal in Year Three 0
Long-term Debt, Maturities, Repayments of Principal in Year Four 0
Long-term Debt, Maturities, Repayments of Principal in Year Five 56,000
Long-term Debt, Maturities, Repayments of Principal after Year Five 5,000
Long-term debt, gross 61,000
Unamortized discount (992)
Long-term Debt 60,008
Junior Subordinated Debentures  
Maturities of Long-term Debt [Abstract]  
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months 0
Long-term Debt, Maturities, Repayments of Principal in Year Two 0
Long-term Debt, Maturities, Repayments of Principal in Year Three 0
Long-term Debt, Maturities, Repayments of Principal in Year Four 0
Long-term Debt, Maturities, Repayments of Principal in Year Five 0
Long-term Debt, Maturities, Repayments of Principal after Year Five 25,775
Long-term debt, gross 25,775
Unamortized discount (1,321)
Long-term Debt $ 24,454
v3.25.4
Repurchase Agreements and Other Borrowings - Additional Information (Details) - USD ($)
 12 Months Ended
Oct. 15, 2025
Feb. 05, 2025
Sep. 06, 2024
Aug. 27, 2024
Jun. 07, 2024
Aug. 15, 2023
Oct. 06, 2020
May 01, 2018
Sep. 08, 2016
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2021
Apr. 26, 2006
Repurchase Agreements And Other Borrowings [Line Items]                          
Securities sold under agreements to repurchase weighted average rate                   1.88%      
Aggregate principal amount issued and outstanding                   $ 354,462,000      
Junior subordinated debentures, net                   24,454,000 $ 24,280,000    
Junior Subordinated Debentures                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Aggregate principal amount issued and outstanding                   $ 24,454,000      
Basis points                 1.85%        
3.95% Subordinated Notes due 2030                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Aggregate principal amount             $ 96,000,000.0            
Description floating rate basis                   three-month Term SOFR      
Shares repurchased and subsequently cancelled     $ 1,000,000 $ 15,000,000 $ 4,000,000                
Repayment of debt $ 20,000,000                        
Aggregate principal amount issued and outstanding                   $ 56,000,000      
Fixed-to-Floating Rate             3.95%     7.50% 3.95%    
Maturity date             Oct. 15, 2030            
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]                   us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember      
Basis points             3.83%            
Redemption description                     The Company may, beginning with the interest payment date of October 15, 2025, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to October 15, 2025, at the Company’s option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date.    
FMIS Trust II                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Trust preferred securities issued                         $ 10,000,000.0
Investment in statutory trust                         $ 310,000
Junior subordinated debentures, net                       $ 10,300,000  
FMIS Trust II | Junior Subordinated Debentures                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Fixed-to-Floating Rate                   5.59% 6.81%    
Debt instrument, interest rate terms                   bore interest at a fixed rate of 6.98% paid quarterly until June 15, 2011 and then converted to floating rate (SOFR plus 160 basis points) after June 15, 2011      
BHS Trust I                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Trust preferred securities issued           $ 1,000,000.0              
Investment in statutory trust           $ 31,000              
BHS Trust I | Junior Subordinated Debentures                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Fixed-to-Floating Rate                   7.20% 8.17%    
Basis points           3.25%              
Debt instrument, interest rate terms                   three-month SOFR      
BHS Trust II                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Trust preferred securities issued           $ 4,000,000.0              
Investment in statutory trust           $ 124,000              
BHS Trust II | Junior Subordinated Debentures                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Fixed-to-Floating Rate                   6.02% 7.25%    
Basis points           2.05%              
Debt instrument, interest rate terms                   three-month SOFR      
CLS Trust I                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Trust preferred securities issued                 $ 4,000,000.0        
Investment in statutory trust                 $ 124,000        
CLS Trust I | Junior Subordinated Debentures                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Fixed-to-Floating Rate                   5.84% 7.06%    
Debt instrument, interest rate terms                   bear interest at three-month SOFR plus 185 basis points      
FBTCST I                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Trust preferred securities issued               $ 6,000,000.0          
Investment in statutory trust               $ 186,000          
FBTCST I | Junior Subordinated Debentures                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Fixed-to-Floating Rate                   5.69% 6.91%    
Basis points               1.70%          
Debt instrument, interest rate terms                   bear interest at three-month SOFR plus 170 basis points      
Blackhawk | 3.50%                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Aggregate principal amount           $ 7,500,000              
Shares repurchased and subsequently cancelled   $ 3,000,000                      
Aggregate principal amount issued and outstanding                   $ 4,500,000      
Interest rate (as a percent)           3.50%              
Maturity date           May 14, 2031              
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]                   us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember      
Basis points           2.85%              
Blackhawk | 3.875%                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Aggregate principal amount           $ 7,500,000              
Shares repurchased and subsequently cancelled   $ 7,000,000                      
Aggregate principal amount issued and outstanding                   $ 500,000      
Interest rate (as a percent)           3.875%              
Maturity date           May 14, 2036              
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]                   us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember      
Basis points           2.55%              
Revolving Credit Facility                          
Repurchase Agreements And Other Borrowings [Line Items]                          
Line of credit facility, maximum borrowing capacity                   $ 15,000,000      
Line of credit facility, interest rate spread                   2.25%      
v3.25.4
Repurchase Agreements and Other Borrowings - Federal Home Loan Bank, Advances (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 270,000,000.0
Interest Rate 4.40% - Maturity Date June 15, 2026  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 25,000,000
Federal Home Loan Bank Advances, Term (in years) 3 years
Federal Home Loan Bank, Advances, Interest Rate 4.40%
Federal Home Loan Bank, Advances, Maturity Date Jun. 15, 2026
Interest Rate 4.37% - Maturity Date May 10, 2027  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 25,000,000
Federal Home Loan Bank Advances, Term (in years) 3 years
Federal Home Loan Bank, Advances, Interest Rate 4.37%
Federal Home Loan Bank, Advances, Maturity Date May 10, 2027
Interest Rate 4.32% - Maturity Date May 17, 2027  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 25,000,000
Federal Home Loan Bank Advances, Term (in years) 3 years
Federal Home Loan Bank, Advances, Interest Rate 4.32%
Federal Home Loan Bank, Advances, Maturity Date May 17, 2027
Interest Rate 3.95% - Maturity Date June 29, 2028  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 25,000,000
Federal Home Loan Bank Advances, Term (in years) 5 years
Federal Home Loan Bank, Advances, Interest Rate 3.95%
Federal Home Loan Bank, Advances, Maturity Date Jun. 29, 2028
Interest Rate 3.93% - Maturity Date June 27, 2029  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 25,000,000
Federal Home Loan Bank Advances, Term (in years) 5 years
Federal Home Loan Bank, Advances, Interest Rate 3.93%
Federal Home Loan Bank, Advances, Maturity Date Jun. 27, 2029
Interest Rate 1.15% - Maturity Date October 3, 2029  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 5,000,000
Federal Home Loan Bank Advances, Term (in years) 10 years
Federal Home Loan Bank, Advances, Interest Rate 1.15%
Federal Home Loan Bank, Advances, Maturity Date Oct. 03, 2029
Interest Rate 1.12% - Maturity Date October 3, 2029  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 5,000,000
Federal Home Loan Bank Advances, Term (in years) 10 years
Federal Home Loan Bank, Advances, Interest Rate 1.12%
Federal Home Loan Bank, Advances, Maturity Date Oct. 03, 2029
Interest Rate 1.39% - Maturity Date December 31, 2029  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 10,000,000
Federal Home Loan Bank Advances, Term (in years) 10 years
Federal Home Loan Bank, Advances, Interest Rate 1.39%
Federal Home Loan Bank, Advances, Maturity Date Dec. 31, 2029
Interest Rate 3.46% - Maturity Date February 7, 2030  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 25,000,000
Federal Home Loan Bank Advances, Term (in years) 5 years
Federal Home Loan Bank, Advances, Interest Rate 3.46%
Federal Home Loan Bank, Advances, Maturity Date Feb. 07, 2030
Interest Rate 3.16% - Maturity Date August 14, 2030  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 25,000,000
Federal Home Loan Bank Advances, Term (in years) 5 years
Federal Home Loan Bank, Advances, Interest Rate 3.16%
Federal Home Loan Bank, Advances, Maturity Date Aug. 14, 2030
Interest Rate 2.92% - Maturity Date November 25, 2030  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 50,000,000
Federal Home Loan Bank Advances, Term (in years) 5 years
Federal Home Loan Bank, Advances, Interest Rate 2.92%
Federal Home Loan Bank, Advances, Maturity Date Nov. 25, 2030
Interest Rate 2.71% - Maturity Date March 5, 2035  
FHLB Advances [Abstract]  
Federal Home Loan Bank Advances $ 25,000,000
Federal Home Loan Bank Advances, Term (in years) 10 years
Federal Home Loan Bank, Advances, Interest Rate 2.71%
Federal Home Loan Bank, Advances, Maturity Date Mar. 05, 2035
v3.25.4
Repurchase Agreements and Other Borrowings - Schedule of Securities Financing Transactions (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets Sold Under Agreements To Repurchase [Line Items]    
Securities pledged to Repurchase Agreements $ 196,716 $ 204,122
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Assets Sold Under Agreements To Repurchase [Line Items]    
Securities pledged to Repurchase Agreements 55,863 70,664
Mortgage-backed Securities    
Assets Sold Under Agreements To Repurchase [Line Items]    
Securities pledged to Repurchase Agreements $ 140,853 $ 133,458
v3.25.4
Regulatory Capital - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
Regulatory Capital [Abstract]  
Description of regulatory requirements, capital adequacy purposes Quantitative measures established by each regulatory capital standards to ensure capital adequacy require the Company and its subsidiary bank to maintain a minimum capital amounts and ratios (set forth in the table below).
v3.25.4
Regulatory Capital - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Phantom section (for regulatory ratios):    
Capital ($) $ 989,634 $ 935,189
Capital to RWA (%) 0.1567 0.1537
Capital Required for Capital Adequacy ($) $ 663,053 $ 639,015
Capital Required for Capital Adequacy to RWA (%) 0.105 0.105
Tier One Risk Based Capital ($) $ 855,405 $ 780,096
Tier One Risk Based Capital to RWA (%) 0.1355 0.1282
Tier One Risk Based Capital Required for Capital Adequacy ($) $ 536,757 $ 517,298
Tier One Risk Based Capital Required for Capital Adequacy to RWA (%) 0.085 0.085
Common Equity Tier One Risk Based Capital ($) $ 830,951 $ 755,816
Common Equity Tier One Risk Based Capital To RWA (%) 0.1316 0.1242
Common Equity Tier One Risk Based Capital Required For Capital Adequacy ($) $ 442,035 $ 426,010
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to RWA (%) 0.07 0.07
Tier One Leverage Capital to Average Assets $ 855,405 $ 780,096
Tier One Leverage Capital to Average Assets (%) 0.1107 0.1033
Tier One Leverage Capital Required for Capital Adequacy ($) $ 308,994 $ 301,976
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (%) 0.04 0.04
First Mid Bank    
Phantom section (for regulatory ratios):    
Capital ($) $ 910,047 $ 880,621
Capital to RWA (%) 0.1447 0.1451
Capital Required for Capital Adequacy ($) $ 660,282 $ 637,089
Capital Required for Capital Adequacy to RWA (%) 0.105 0.105
Capital Required to be Well Capitalized ($) $ 628,840 $ 606,752
Capital Required to be Well Capitalized to RWA (%) 0.10 0.10
Tier One Risk Based Capital ($) $ 835,826 $ 813,000
Tier One Risk Based Capital to RWA (%) 0.1329 0.134
Tier One Risk Based Capital Required for Capital Adequacy with Capital Buffer ($) $ 534,514 $ 515,739
Tier One Risk Based Capital Required for Capital Adequacy with Capital Buffer to RWA (%) 0.085 0.085
Tier One Risk Based Capital Required to be Well Capitalized ($) $ 503,072 $ 485,401
Tier One Risk Based Capital Required to be Well Capitalized to RWA (%) 0.08 0.08
Common Equity Tier One Risk Based Capital ($) $ 835,826 $ 813,000
Common Equity Tier One Risk Based Capital To RWA (%) 0.1329 0.134
Common Equity Tier One Risk Based Capital Required For Capital Adequacy ($) $ 440,188 $ 424,726
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to RWA (%) 0.07 0.07
Common Equity Tier One Risk Based Capital Required to Be Well Capitalized ($) $ 408,746 $ 394,389
Common Equity Tier One Risk Based Capital Required To Be Well Capitalized to RiWA (%) 0.065 0.065
Tier One Leverage Capital to Average Assets $ 835,826 $ 813,000
Tier One Leverage Capital to Average Assets (%) 0.1088 0.1082
Tier One Leverage Capital Required for Capital Adequacy ($) $ 307,361 $ 300,596
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (%) 0.04 0.04
Tier One Leverage Capital Required to be Well Capitalized ($) $ 384,201 $ 375,745
Tier One Leverage Capital Required to be Well Capitalized to Average Assets (%) 0.05 0.05
v3.25.4
Disclosures of Fair Values of Financial Instruments - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Available-for-sale securities:    
Total available-for-sale securities $ 1,076,883 $ 1,063,292
Equity securities, at fair value 4,588 4,439
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale securities:    
Total available-for-sale securities 144,080 191,358
Obligations of States and Political Subdivisions    
Available-for-sale securities:    
Total available-for-sale securities 280,633 267,740
Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities 27,504 64,452
Fair Value, Recurring    
Available-for-sale securities:    
Total available-for-sale securities 1,076,883 1,063,292
Equity securities, at fair value 4,588 4,439
Loans held for sale, fair value 5,203 6,614
Derivative assets: interest rate swaps 1,728 2,949
Total assets 1,088,402 1,077,294
Derivative liabilities: interest rate swaps 1,247 2,006
Fair Value, Recurring | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale securities:    
Total available-for-sale securities 144,080 191,358
Fair Value, Recurring | Obligations of States and Political Subdivisions    
Available-for-sale securities:    
Total available-for-sale securities 280,633 267,740
Fair Value, Recurring | Mortgage-backed Securities    
Available-for-sale securities:    
Total available-for-sale securities 624,666 539,742
Fair Value, Recurring | Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities 27,504  
Equity securities, at fair value   64,452
Quoted Prices in Active Markets for Identical Assets (Level 1)    
Available-for-sale securities:    
Total available-for-sale securities 0 0
Equity securities, at fair value 4,588 4,439
Loans held for sale, fair value 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring    
Available-for-sale securities:    
Total available-for-sale securities 0 0
Equity securities, at fair value 4,588 4,439
Loans held for sale, fair value 0 0
Derivative assets: interest rate swaps 0 0
Total assets 4,588 4,439
Derivative liabilities: interest rate swaps 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale securities:    
Total available-for-sale securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | Obligations of States and Political Subdivisions    
Available-for-sale securities:    
Total available-for-sale securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | Mortgage-backed Securities    
Available-for-sale securities:    
Total available-for-sale securities 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Recurring | Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities 0  
Equity securities, at fair value   0
Significant Other Observable Inputs (Level 2)    
Available-for-sale securities:    
Total available-for-sale securities 1,074,124 1,057,533
Equity securities, at fair value 0 0
Loans held for sale, fair value 5,203 6,614
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring    
Available-for-sale securities:    
Total available-for-sale securities 1,074,124 1,057,533
Equity securities, at fair value 0 0
Loans held for sale, fair value 5,203 6,614
Derivative assets: interest rate swaps 1,728 2,949
Total assets 1,081,055 1,067,096
Derivative liabilities: interest rate swaps 1,247 2,006
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale securities:    
Total available-for-sale securities 144,080 191,358
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Obligations of States and Political Subdivisions    
Available-for-sale securities:    
Total available-for-sale securities 280,633 267,740
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Mortgage-backed Securities    
Available-for-sale securities:    
Total available-for-sale securities 624,666 539,742
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities 24,745  
Equity securities, at fair value   58,693
Significant Unobservable Inputs (Level 3)    
Available-for-sale securities:    
Total available-for-sale securities 2,759 5,759
Equity securities, at fair value 0 0
Loans held for sale, fair value 0 0
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring    
Available-for-sale securities:    
Total available-for-sale securities 2,759 5,759
Equity securities, at fair value 0 0
Loans held for sale, fair value 0 0
Derivative assets: interest rate swaps 0 0
Total assets 2,759 5,759
Derivative liabilities: interest rate swaps 0 0
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale securities:    
Total available-for-sale securities 0 0
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Obligations of States and Political Subdivisions    
Available-for-sale securities:    
Total available-for-sale securities 0 0
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Mortgage-backed Securities    
Available-for-sale securities:    
Total available-for-sale securities 0 0
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities $ 2,759  
Equity securities, at fair value   $ 5,759
v3.25.4
Disclosures of Fair Values of Financial Instruments - Fair Value of Assets Measured on a Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance $ 5,759 $ 6,163
Transfers into Level 3   3
Transfers out of Level 3 (7,029)  
Total gains or losses    
Purchases 7,029  
Maturities (3,000) (407)
Ending balance $ 2,759 $ 5,759
v3.25.4
Disclosures of Fair Values of Financial Instruments - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Allowance for credit losses $ 74,875,000 $ 70,182,000 $ 68,675,000 $ 59,093,000
Other real estate owned 2,857,000 2,179,000    
Mortgage Servicing Rights        
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Finite-lived intangible assets, net 4,566,000 5,629,000 $ 6,859,000  
Mortgage servicing rights (MSR) impairment (recovery) 1,000 7,000    
Fair Value, Nonrecurring        
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Carrying amount of loans with a specific allowance 11,000,000 17,900,000    
Fair value of loans with a specific allowance 10,400,000 16,600,000    
Allowance for credit losses 605,000 1,300,000    
Fair Value, Nonrecurring | Carrying Amount        
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Other real estate owned 2,900,000 2,200,000    
Fair Value, Nonrecurring | Fair Value        
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Other real estate owned $ 605,000 $ 48,000    
v3.25.4
Disclosures of Fair Values of Financial Instruments - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Collateral Dependent Loans    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value $ 10,389 $ 16,604
Foreclosed Assets Held-for-sale    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value 605 48
Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateral Dependent Loans    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value 0 0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Foreclosed Assets Held-for-sale    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value 0 0
Significant Other Observable Inputs (Level 2) | Collateral Dependent Loans    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value 0 0
Significant Other Observable Inputs (Level 2) | Foreclosed Assets Held-for-sale    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value 0 0
Significant Unobservable Inputs (Level 3) | Collateral Dependent Loans    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value 10,389 16,604
Significant Unobservable Inputs (Level 3) | Foreclosed Assets Held-for-sale    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value $ 605 $ 48
v3.25.4
Disclosures of Fair Values of Financial Instruments - Significant Unobservable Inputs Used in Valuation of Level 3 Fair Value Measurements (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Collateral Dependent Loans | Level 3 | Minimum | Third Party Valuations    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans 0.00% 0.00%
Collateral Dependent Loans | Level 3 | Maximum | Third Party Valuations    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans 40.00% 40.00%
Collateral Dependent Loans | Level 3 | Weighted Average | Third Party Valuations    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans 20.00% 20.00%
Collateral Dependent Loans | Fair Value, Nonrecurring    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value $ 10,389 $ 16,604
Collateral Dependent Loans | Fair Value, Nonrecurring | Level 3    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value $ 10,389 $ 16,604
Foreclosed Assets Held-for-sale | Level 3 | Minimum | Third Party Valuations    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans 0.00% 0.00%
Foreclosed Assets Held-for-sale | Level 3 | Maximum | Third Party Valuations    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans 40.00% 40.00%
Foreclosed Assets Held-for-sale | Level 3 | Weighted Average | Third Party Valuations    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans 35.00% 35.00%
Foreclosed Assets Held-for-sale | Fair Value, Nonrecurring    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value $ 605 $ 48
v3.25.4
Disclosures of Fair Values of Financial Instruments - Summary of Estimated Fair Values of Company Financial Instruments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financial assets    
Total available-for-sale securities $ 1,076,883 $ 1,063,292
Held-to-maturity securities 2,288 2,279
Equity securities, at fair value 4,588 4,439
Fair Value, Inputs, Level 1 [Member]    
Financial assets    
Cash and due from banks 254,844 121,141
Federal funds sold 76 75
Certificates of deposit investments 0 0
Total available-for-sale securities 0 0
Held-to-maturity securities 2,288 2,279
Equity securities, at fair value 4,588 4,439
Loans held for sale 0 0
Loans net of allowance for credit losses 0 0
Interest receivable 0 0
Federal Reserve Bank stock 0 0
Federal Home Loan Bank stock 0 0
Financial liabilities    
Deposits 0 0
Securities sold under agreements to repurchase 0 0
Interest payable 0 0
Federal Home Loan Bank borrowings 0 0
Fair Value, Inputs, Level 1 [Member] | Subordinated Debt    
Financial liabilities    
Subordinated debentures 0 0
Fair Value, Inputs, Level 1 [Member] | Junior Subordinated Debentures    
Financial liabilities    
Subordinated debentures 0 0
Fair Value, Inputs, Level 2 [Member]    
Financial assets    
Cash and due from banks 0 0
Federal funds sold 0 0
Certificates of deposit investments 1,740 3,500
Total available-for-sale securities 1,074,124 1,057,533
Held-to-maturity securities 0 0
Equity securities, at fair value 0 0
Loans held for sale 5,203 6,614
Loans net of allowance for credit losses 0 0
Interest receivable 39,949 38,639
Federal Reserve Bank stock 19,855 19,855
Federal Home Loan Bank stock 11,351 9,501
Financial liabilities    
Deposits 5,265,780 5,069,853
Securities sold under agreements to repurchase 196,716 204,122
Interest payable 5,782 5,280
Federal Home Loan Bank borrowings 270,338 240,125
Fair Value, Inputs, Level 2 [Member] | Subordinated Debt    
Financial liabilities    
Subordinated debentures 60,800 86,062
Fair Value, Inputs, Level 2 [Member] | Junior Subordinated Debentures    
Financial liabilities    
Subordinated debentures 22,083 21,411
Level 3    
Financial assets    
Cash and due from banks 0 0
Federal funds sold 0 0
Certificates of deposit investments 0 0
Total available-for-sale securities 2,759 5,759
Held-to-maturity securities 0 0
Equity securities, at fair value 0 0
Loans held for sale 0 0
Loans net of allowance for credit losses 5,761,258 5,314,756
Interest receivable 0 0
Federal Reserve Bank stock 0 0
Federal Home Loan Bank stock 0 0
Financial liabilities    
Deposits 1,056,659 907,260
Securities sold under agreements to repurchase 0 0
Interest payable 0 0
Federal Home Loan Bank borrowings 0 0
Level 3 | Subordinated Debt    
Financial liabilities    
Subordinated debentures 0 0
Level 3 | Junior Subordinated Debentures    
Financial liabilities    
Subordinated debentures 0 0
Carrying Amount    
Financial assets    
Cash and due from banks 254,844 121,141
Federal funds sold 76 75
Certificates of deposit investments 1,740 3,500
Total available-for-sale securities 1,076,883 1,063,292
Held-to-maturity securities 2,288 2,279
Equity securities, at fair value 4,588 4,439
Loans held for sale 5,203 6,614
Loans net of allowance for credit losses 5,931,296 5,595,666
Interest receivable 39,949 38,639
Federal Reserve Bank stock 19,855 19,855
Federal Home Loan Bank stock 11,351 9,501
Financial liabilities    
Deposits 6,395,273 6,057,096
Securities sold under agreements to repurchase 196,716 204,122
Interest payable 5,782 5,280
Federal Home Loan Bank borrowings 270,000 242,520
Carrying Amount | Subordinated Debt    
Financial liabilities    
Subordinated debentures 60,008 87,472
Carrying Amount | Junior Subordinated Debentures    
Financial liabilities    
Subordinated debentures 24,454 24,280
Fair Value    
Financial assets    
Cash and due from banks 254,844 121,141
Federal funds sold 76 75
Certificates of deposit investments 1,740 3,500
Total available-for-sale securities 1,076,883 1,063,292
Held-to-maturity securities 2,288 2,279
Equity securities, at fair value 4,588 4,439
Loans held for sale 5,203 6,614
Loans net of allowance for credit losses 5,761,258 5,314,756
Interest receivable 39,949 38,639
Federal Reserve Bank stock 19,855 19,855
Federal Home Loan Bank stock 11,351 9,501
Financial liabilities    
Deposits 6,322,439 5,977,113
Securities sold under agreements to repurchase 196,716 204,122
Interest payable 5,782 5,280
Federal Home Loan Bank borrowings 270,338 240,125
Fair Value | Subordinated Debt    
Financial liabilities    
Subordinated debentures 60,800 86,062
Fair Value | Junior Subordinated Debentures    
Financial liabilities    
Subordinated debentures $ 22,083 $ 21,411
v3.25.4
Deferred Compensation Plan - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
shares
Deferred Compensation Plan [Abstract]  
Cost basis of common stock issued and held in trust $ 6.8
Deferred compensation plan recorded liability $ 6.8
Shares issued pursuant to deferred compensation plan | shares 0
v3.25.4
Stock Incentive Plan - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Stock plans, term 10 years    
Maximum number of shares to be issued in stock incentive plan (in shares) 1,000,000    
Unrecognized share-based compensation cost $ 2.0 $ 1.4 $ 1.5
Stock Unit Awards and Stock Awards [Member]      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Common stock awarded in SI plan (in shares) 84,097 80,332 45,986
Annual Awards      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Unrecognized compensation expense, period of recognition 4 years    
Cumulative Awards      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Unrecognized compensation expense, period of recognition 3 years    
v3.25.4
Stock Incentive Plan - Summary of Compensation Cost, Net of Forfeitures, Related to Stock-based Compensation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Total share-based compensation expense, net of income taxes $ 2,087 $ 1,864 $ 1,308
Stock Unit Awards and Stock Awards [Member]      
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]      
Pre-tax compensation expense 2,642 2,359 1,656
Income tax benefit $ (555) $ (495) $ (348)
v3.25.4
Stock Incentive Plan - Summary of Unvested Stock and Stock Units (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Nonvested, beginning of year 96,571 76,740 82,048
Granted 84,097 80,332 45,986
Vested (62,512) (58,330) (49,525)
Forfeited (1,452) (2,171) (1,769)
Nonvested, end of year 116,704 96,571 76,740
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]      
Nonvested, beginning of year $ 32.29 $ 33.24 $ 37.41
Granted 38.96 33.51 27.64
Vested (35.2) (35.05) (34.88)
Forfeited (36.39) (32.21) (35.15)
Nonvested, end of year $ 35.57 $ 32.29 $ 33.24
Fair value of shares vested $ 2,200,358 $ 2,044,438 $ 1,727,554
v3.25.4
Retirement Plans - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Defined contribution plan, maximum annual contribution per employee, percent 6.00%    
Defined contribution plan, cost $ 4.7 $ 4.8 $ 4.0
v3.25.4
Income Taxes - Components of Federal and State Income Tax Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Federal $ 19,899 $ 18,504 $ 2,189
State 7,738 6,404 542
Total current 27,637 24,908 2,731
Federal (1,887) (2,497) 12,585
State (451) 3,087 4,154
Total deferred (2,338) 590 16,739
Total $ 25,299 $ 25,498 $ 19,470
v3.25.4
Income Taxes - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Statutory U.S. Federal Tax Rate 21.00% 21.00% 21.00%
Interest or penalties expense $ 249,000 $ 213,000 $ 307,000
Valuation allowance related to deferred tax assets $ 0 $ 682,000  
v3.25.4
Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
US statutory income tax rate $ 24,580 $ 21,923 $ 18,565
Domestic state and local income tax, net of federal 5,772 4,917 3,710
Tax credits (federal) (290) (229) (303)
Tax-exempt income from bank owned life insurance (908) (994) (1,035)
Nondeductible interest expense 98 307 799
Other tax exempt income (2,459) (2,397) (2,416)
Other 93 (297) 251
Changes in valuation allowances (federal) (607) (357) 0
Changes in tax laws or rates enacted in the current period 0 2,581 0
Changes in unrecognized tax benefits (federal), net 249 213 0
Other items (1,229) (169) (101)
Total $ 25,299 $ 25,498 $ 19,470
Percentage      
US statutory income tax rate 21.00% 21.00% 21.00%
Domestic state and local income tax, net of federal 4.90% 4.70% 4.20%
Tax credits (federal) (0.20%) (0.20%) (0.30%)
Tax-exempt income from bank owned life insurance (0.80%) (1.00%) (1.20%)
Nondeductible interest expense 0.10% 0.30% 0.90%
Other tax-exempt income (2.10%) (2.30%) (2.70%)
Other 0.10% (0.30%) 0.30%
Changes in valuation allowances (federal) (0.50%) (0.30%) 0.00%
Changes in tax laws or rates enacted in the current period 0.00% 2.50% 0.00%
Changes in unrecognized tax benefits (federal), net 0.20% 0.20% 0.00%
Other items (1.00%) (0.20%) (0.10%)
Effective tax rate 21.60% 24.40% (22.00%)
v3.25.4
Income Taxes - Tax Effects of Temporary Differences on Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]    
Allowance for credit losses $ 19,751,000 $ 18,588,000
Available-for-sale investment securities 36,171,000 49,082,000
Deferred compensation 4,215,000 4,377,000
Supplemental retirement 533,000 512,000
Deferred loan costs 384,000 462,000
Stock compensation expense 207,000 80,000
Deferred revenue 162,000 211,000
Acquisition costs 87,000 112,000
Lease Liability 3,476,000 3,743,000
Other 3,083,000 3,623,000
Total gross deferred tax assets 68,069,000 80,790,000
Less valuation allowance 0 (682,000)
Net deferred tax asset 68,069,000 80,108,000
Intangibles amortization 8,722,000 5,378,000
Prepaid expenses 1,947,000 2,023,000
FHLB stock dividend 21,000 21,000
Deferred expenses 100,000 100,000
Purchase accounting 0 1,854,000
Depreciation 3,177,000 4,517,000
Accumulated accretion 0 222,000
Mortgage servicing rights 1,202,000 1,485,000
Right of use asset 3,335,000 3,657,000
Other 552,000 1,265,000
Total gross deferred tax liabilities 19,056,000 20,522,000
Deferred tax assets, net $ 49,013,000 $ 59,586,000
v3.25.4
Dividend Restrictions - Additional Information (Details)
$ in Millions
Dec. 31, 2025
USD ($)
First Mid Bank  
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items]  
Amount Available for Dividend Distribution without Prior Approval from Regulatory Agency $ 54.5
v3.25.4
Commitments and Contingent Liabilities - Schedule of Off-balance Sheet Financial Instruments Whose Contract Amounts Represent Credit Risk (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Commitments to Extend Credit [Member]    
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Commercial real estate $ 214,028 $ 323,979
Commercial operating 675,087 649,082
Home equity 119,456 105,867
Other 371,322 332,113
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Asset 1,379,893 1,411,041
Financial Standby Letter of Credit [Member]    
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Asset $ 17,575 $ 16,909
v3.25.4
Commitments and Contingent Liabilities - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
Commitments to Extend Credit [Member]  
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]  
Number of expected days to fund commitments 90 days
Financial Standby Letter of Credit [Member]  
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]  
Period when letters of credit expire one year or less
v3.25.4
Related Party Transactions - Additional Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Related Party Transactions [Abstract]      
Loans to related parties $ 130,282 $ 247,942 $ 248,698
Related Party Deposit Liabilities $ 158,500 $ 61,200  
v3.25.4
Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Related Party Transactions [Abstract]    
Beginning balance $ 247,942 $ 248,698
New loans 17,237 144,024
Loan repayments (134,897) (144,780)
Ending balance $ 130,282 $ 247,942
v3.25.4
Business Combinations - Additional Information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Mar. 20, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Intangible asset estimated useful life   15 years    
Core Deposit Intangibles        
Business Combination [Line Items]        
Intangible asset estimated useful life   10 years    
Blackhawk Bancorp, Inc        
Business Combination [Line Items]        
Conversion of common stock 1.15      
Goodwill acquired during period $ 50,100      
Pre-tax of acquisition costs   $ 2,500 $ 8,200 $ 0
Blackhawk Bancorp, Inc | ASU 2016-13        
Business Combination [Line Items]        
Allowance for credit losses 3,800      
Allowance for credit losses on non-PCD loans $ 618,330      
Blackhawk Bancorp, Inc | Core Deposit Intangibles        
Business Combination [Line Items]        
Intangible asset estimated useful life 10 years      
v3.25.4
Business Combinations - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - Blackhawk Bancorp, Inc
$ in Thousands
Mar. 20, 2023
USD ($)
Liabilities  
Total consideration paid $ 93,510
Fair Value Adjustments  
Assets  
Cash and due from banks 55,600
Loans held for sale 3,222
Loans, net 722,866
Investments-available for sale 377,969
Short-term investments 869
FHLB stock 1,737
Premises and equipment 12,366
Accrued interest receivable 4,029
Prepaid expenses 1,182
Other assets 20,703
Core deposit intangible 34,590
Income tax receivable 2,077
Deferred tax asset 22,152
Mortgage servicing rights 7,070
Total assets acquired 1,266,432
Liabilities  
Deposits 1,194,972
Subordinated and jr. subordinated debt 16,448
Accrued interest payable 1,091
Accrued and other liabilities 10,508
Total liabilities assumed 1,223,019
Net assets acquired 43,413
Total consideration paid 93,510
Goodwill $ 50,097
v3.25.4
Business Combinations - Summary of Consideration Transferred (Details) - Blackhawk Bancorp, Inc
Mar. 20, 2023
USD ($)
Business Combination [Line Items]  
Common stock issued (3,290,222 shares) $ 93,508,000
Cash consideration 2,000
Purchase price $ 93,510,000
v3.25.4
Business Combinations - Summary of Consideration Transferred (Parenthetical) (Details)
Mar. 20, 2023
shares
Blackhawk Bancorp, Inc  
Business Combination [Line Items]  
Consideration payable in shares 3,290,222
v3.25.4
Business Combinations - Summary of Purchased Credit Deteriorated (PCD) Loans (Details) - Blackhawk Bancorp, Inc [Member]
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Business Combination [Line Items]  
Unpaid principal balance $ 115,250
PCD allowance for credit losses at acquisition (3,791)
Non-credit discount on acquired loans (5,476)
Fair value of PCD loans $ 105,983
v3.25.4
Business Combinations - Unaudited Pro Forma Condensed Combined Financial Information (Details) - Blackhawk Bancorp, Inc [Member]
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2023
USD ($)
$ / shares
shares
Business Combination [Line Items]  
Net interest income $ 229,317
Provision for loan losses 7,320
Non-interest income 95,660
Non-interest expense 223,354
Income before income taxes 94,303
Income tax expense 20,744
Net income available to common stockholders $ 73,559
Earnings per share  
Basic | $ / shares $ 3.38
Diluted | $ / shares $ 3.36
Basic weighted average shares outstanding | shares 21,780,217
Diluted weighted average shares outstanding | shares 21,868,788
v3.25.4
Leases - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
Lessee Lease Description [Line Items]  
Gain on sale of office building $ 630,000
v3.25.4
Leases - Summary of Supplemental Balance Sheet Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Leases, Operating [Abstract]    
Operating lease right-of-use assets $ 12,674 $ 13,861
Operating lease liabilities $ 13,210 $ 14,190
Weighted-average remaining lease term (in years) 4 years 4 months 24 days 4 years 8 months 12 days
Weighted-average discount rate 3.54% 3.22%
v3.25.4
Leases - Summary of Future Minimum Lease Payments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Lessee, Operating Lease, Liability, Payment, Due [Abstract]    
2026 $ 3,327  
2027 3,089  
2028 2,439  
2029 1,982  
2030 1,338  
Thereafter 2,483  
Total minimum lease payments 14,658  
Less imputed interest (1,448)  
Total lease liability $ 13,210 $ 14,190
v3.25.4
Leases - Summary of Components of Lease Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Lease, Cost [Abstract]    
Operating lease cost $ 3,331 $ 3,394
Short-term lease cost 145 118
Variable lease cost 1,182 775
Total lease cost 4,658 4,287
Income from subleases (326) (429)
Net lease cost $ 4,332 $ 3,858
v3.25.4
Leases - Summary of Operating Lease Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating cash flows from operating leases $ 3,309 $ 3,333 $ 3,263
v3.25.4
Derivatives - Schedule of Derivative Instruments (Details) - Fair Value Hedging - Designated As Hedging Instrument - Interest Rate Swap Agreements - Other Liabilities - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative [Line Items]    
Derivative, Weighted Average Remaining Maturity (Years) 3 years 3 months 18 days 4 years 3 months 18 days
Derivative Liability, Notional Amount $ 11,974 $ 12,486
Derivative Liability, Estimated Value $ (1,247) $ (2,006)
v3.25.4
Derivatives - Summary of Derivative Instruments, Gain (Loss) (Details) - Fair Value Hedging - Interest Rate Swap Agreements - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Derivative [Line Items]    
Gain (Loss) on Derivative $ (462) $ (6)
Gain (Loss) on Hedged Items $ 462 $ 6
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest and fees on loans Interest and fees on loans
v3.25.4
Derivatives - Summary of Hedged Instrument (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Hedged Instruments [Abstract]    
Carrying Amount of the Hedged Asset $ 11,493 $ 11,543
Hedged Asset, Statement of Financial Position [Extensible Enumeration] Other Assets Other Assets
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset $ (481) $ (943)
v3.25.4
Derivatives - Summary of Non Hedge Instruments (Details) - Not Designated as Hedging Instrument - Interest Rate Swap Agreements - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Other Assets    
Derivative [Line Items]    
Derivative, Weighted Average Remaining Maturity (Years) 3 years 4 years
Derivative Assets, Notional Amount $ 27,233 $ 28,968
Derivative Assets, Estimated Value $ 1,728 $ 2,949
Loans    
Derivative [Line Items]    
Derivative, Weighted Average Remaining Maturity (Years) 3 years  
Derivative Liability, Notional Amount $ 27,233  
Derivative Liability, Estimated Value $ 481  
Other Liabilities    
Derivative [Line Items]    
Derivative, Weighted Average Remaining Maturity (Years) 3 years 4 years
Derivative Liability, Notional Amount $ 27,233 $ 28,968
Derivative Liability, Estimated Value $ 1,247 $ (2,949)
v3.25.4
Parent Company Only Financial Statements - Condensed Balance Sheets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]        
Premises and equipment, net $ 90,782 $ 100,234    
Other assets 69,380 75,469    
Total assets 7,966,658 7,519,734    
Other liabilities 42,523 38,383    
Total liabilities 7,007,966 6,673,343    
Stockholders’ equity 958,692 846,391 $ 793,204 $ 633,155
Total liabilities and stockholders’ equity 7,966,658 7,519,734    
Parent Company [Member]        
Condensed Financial Statements, Captions [Line Items]        
Cash 25,845 11,762    
Premises and equipment, net 360 5,301    
Investment in subsidiaries 996,334 934,750    
Other assets 22,839 8,230    
Total assets 1,045,378 960,043    
Debt 84,462 111,752    
Other liabilities 2,224 1,900    
Total liabilities 86,686 113,652    
Stockholders’ equity 958,692 846,391    
Total liabilities and stockholders’ equity $ 1,045,378 $ 960,043    
v3.25.4
Parent Company Only Financial Statements - Condensed Statements of Income and Comprehensive Income (Loss) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]      
Income tax benefit $ (25,299,000) $ (25,498,000) $ (19,470,000)
Net income 91,749,000 78,898,000 68,935,000
Comprehensive income 132,831,000 72,942,000 84,015,000
Parent Company [Member]      
Condensed Financial Statements, Captions [Line Items]      
Dividends from subsidiaries 79,115,000 58,000,000 51,213,000
Other income 159,000 681,000 87,000
Total income 79,274,000 58,681,000 51,300,000
Operating expenses 11,287,000 11,256,000 12,192,000
Income before income taxes and equity in undistributed earnings of subsidiaries 67,987,000 47,425,000 39,108,000
Income tax benefit 3,047,000 2,892,000 3,453,000
Income before equity in undistributed earnings of subsidiaries 71,034,000 50,317,000 42,561,000
Equity in undistributed earnings of subsidiaries 20,715,000 28,581,000 26,374,000
Net income 91,749,000 78,898,000 68,935,000
Other comprehensive income (loss), net of taxes 41,082,000 (5,956,000) 15,080,000
Comprehensive income $ 132,831,000 $ 72,942,000 $ 84,015,000
v3.25.4
Parent Company Only Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]      
Net Income (Loss) $ 91,749,000 $ 78,898,000 $ 68,935,000
Depreciation, amortization and accretion, net 19,771,000 20,778,000 14,904,000
Increase in other assets 10,566,000 33,524,000 (20,562,000)
Increase (decrease) in other liabilities 3,534,000 (4,191,000) (1,674,000)
Net cash provided by operating activities 130,874,000 124,425,000 72,417,000
Net cash (used in) provided by investing activities (302,625,000) (7,509,000) 474,380,000
Repayment of short-term debt (4,000,000) 0 0
Proceeds from short-term debt 4,000,000 0 0
Proceeds from issuance of common stock 1,120,000 1,054,000 1,004,000
Payment to repurchase common stock (724,000) (659,000) (465,000)
Dividends paid on common stock (23,395,000) (22,371,000) (19,557,000)
Net cash (used in) provided by financing activities 305,455,000 (138,764,000) (556,166,000)
Increase (decrease) in cash and cash equivalents 133,704,000 (21,848,000) (9,369,000)
Cash and cash equivalents at beginning of period 121,216,000 143,064,000 152,433,000
Cash and cash equivalents at end of period 254,920,000 121,216,000 143,064,000
Parent Company [Member]      
Condensed Financial Statements, Captions [Line Items]      
Net Income (Loss) 91,749,000 78,898,000 68,935,000
Depreciation, amortization and accretion, net 0 0 265,000
Dividends received from subsidiary 0 0 51,213,000
Equity in undistributed earnings of subsidiaries (20,715,000) (28,581,000) (26,374,000)
Increase in other assets (12,522,000) (2,221,000) (49,606,000)
Increase (decrease) in other liabilities 4,798,000 (871,000) 1,526,000
Net cash provided by operating activities 63,310,000 47,225,000 45,959,000
Investment in subsidiary 0 (4,000,000) 0
Net cash from (used in) business acquisition 0 0 (41,827,000)
Other 3,654,000 0 0
Net cash (used in) provided by investing activities 3,654,000 (4,000,000) (41,827,000)
Repayment of long-term debt (29,882,000) (19,455,000) 0
Proceeds from issuance of common stock 1,120,000 1,054,000 1,004,000
Payment to repurchase common stock (724,000) (659,000) (465,000)
Dividends paid on common stock (23,395,000) (22,371,000) (19,557,000)
Net cash (used in) provided by financing activities (52,881,000) (41,431,000) (19,018,000)
Increase (decrease) in cash and cash equivalents 14,083,000 1,794,000 (14,886,000)
Cash and cash equivalents at beginning of period 11,762,000 9,968,000 24,854,000
Cash and cash equivalents at end of period $ 25,845,000 $ 11,762,000 $ 9,968,000