FIRST MID BANCSHARES, INC., 10-Q filed on 5/8/2026
Quarterly Report
v3.26.1
Document and Entity Information - shares
 3 Months Ended
Mar. 31, 2026
May 08, 2026
Cover [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Mar. 31, 2026  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Entity Registrant Name FIRST MID BANCSHARES, INC.  
Entity Central Index Key 0000700565  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Current Fiscal Year End Date --12-31  
Entity Filer Category Large Accelerated Filer  
Entity Common Stock, Shares Outstanding   26,615,796
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 Quarterly Report true  
Document Transition Report false  
v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Cash and due from banks:    
Non-interest-bearing $ 64,893 $ 57,224
Interest-bearing 411,190 197,620
Federal funds sold 949 76
Cash and cash equivalents 477,032 254,920
Certificates of deposit 3,060 1,740
Investment securities:    
Available-for-sale, at fair value (amortized cost of $1,325,037 and $1,215,813 at March 31, 2026 and December 31, 2025, respectively) 1,176,071 1,076,883
Held-to-maturity, at amortized cost (estimated fair value of $2,271 and $2,288 at March 31, 2026 and December 31, 2025, respectively) 2,271 2,288
Equity securities, at fair value 4,717 4,588
Less: loans held for sale 4,909 5,203
Loans 6,939,367 6,006,171
Less allowance for credit losses (86,814) (74,875)
Net loans 6,852,553 5,931,296
Interest receivable 46,753 39,949
Other real estate owned 5,529 2,857
Premises and equipment, net 101,935 90,782
Goodwill, net 203,391 203,391
Intangible assets, net 73,956 49,625
Bank owned life insurance 186,042 174,915
Right of use lease assets 13,411 12,674
Current tax assets 0 714
Deferred tax assets 61,834 45,453
Other assets 75,153 69,380
Total assets 9,288,617 7,966,658
Deposits:    
Non-interest-bearing 1,489,747 1,392,534
Interest-bearing 6,057,892 5,002,739
Total deposits 7,547,639 6,395,273
Repurchase agreements with customers 208,811 196,716
Interest payable 6,600 5,782
Other borrowings 295,106 270,000
Subordinated debt, net 60,072 60,008
Junior subordinated debentures, net 34,022 24,454
Lease liabilities 13,954 13,210
Current tax liabilities 10,602 0
Other liabilities 35,185 42,523
Total liabilities 8,211,991 7,007,966
Commitments and contingent liabilities (Note 12)
Stockholders’ equity:    
Common stock ($4 par value; authorized 45,000,000 shares; issued 27,307,663 and 24,671,969 shares in March 31, 2026 and December 31, 2025, respectively; outstanding 26,609,307 and 23,986,299 shares in March 31, 2026 and December 31, 2025, respectively) 111,231 100,688
Additional paid-in capital 614,974 516,984
Retained earnings 483,886 463,543
Deferred compensation (205) 2,654
Accumulated other comprehensive loss (108,708) (101,301)
Treasury stock, at cost (698,356 and 685,670 shares in March 31, 2026 and December 31, 2025) (24,552) (23,876)
Balance 1,076,626 958,692
Total liabilities and stockholders’ equity $ 9,288,617 $ 7,966,658
v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Investment securities:    
Held-to-maturity, at fair value $ 2,271 $ 2,288
Available-for-sale, amotized cost $ 1,325,037 $ 1,215,813
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) 27,307,663 24,671,969
Common stock, outstanding (in shares) 26,609,307 23,986,299
Treasury stock (in shares) 698,356 685,670
v3.26.1
Condensed Consolidated Statements of Income (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income:    
Interest and fees on loans $ 90,986,000 $ 79,918,000
Interest on investment securities    
Taxable 6,012,000 4,982,000
Exempt from federal income tax 1,873,000 1,795,000
Interest on certificates of deposit 21,000 36,000
Interest on federal funds sold 2,000 1,000
Interest on deposits with other financial institutions 1,726,000 827,000
Total interest income 100,620,000 87,559,000
Interest expense:    
Interest on deposits 24,774,000 23,722,000
Interest on repurchase agreements with customers 1,025,000 1,180,000
Interest on other borrowings 2,398,000 1,831,000
Interest on subordinated debt 1,170,000 949,000
Interest on junior subordinated debt 468,000 468,000
Total interest expense 29,835,000 28,150,000
Net interest income 70,785,000 59,409,000
Provision for credit losses 2,598,000 1,652,000
Net interest income after provision for credit losses 68,187,000 57,757,000
Other income:    
Wealth management revenues 6,375,000 5,800,000
Insurance commissions 10,807,000 9,925,000
Service charges 3,080,000 2,901,000
Investment securities gains (losses), net 20,000 (181,000)
Mortgage banking revenue, net 721,000 711,000
ATM/debit card revenue 4,135,000 3,646,000
Bank owned life insurance 1,340,000 1,687,000
Other income (37,000) 375,000
Total other income 26,441,000 24,864,000
Other expense:    
Salaries and employee benefits 35,016,000 31,748,000
Net occupancy and equipment expense 9,826,000 8,479,000
Net other real estate owned expense 212,000 101,000
FDIC insurance expense 940,000 849,000
Amortization of intangible assets 3,301,000 3,231,000
Stationery and supplies 302,000 431,000
Legal and professional 2,700,000 3,076,000
ATM/debit card expense 1,807,000 1,831,000
Marketing and donations 824,000 852,000
Other expense 5,797,000 3,874,000
Total other expense 60,725,000 54,472,000
Income before income taxes 33,903,000 28,149,000
Income taxes 7,576,000 5,978,000
Net income $ 26,327,000 $ 22,171,000
Per share data:    
Basic net income per common share $ 1.06 $ 0.93
Diluted net income per common share $ 1.06 $ 0.93
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net Income (Loss) $ 26,327,000 $ 22,171,000
Other comprehensive income (loss)    
Unrealized gains (losses) on available-for-sale securities, net of taxes of $2,778 and ($2,594) for three months ended March 31, 2026 and 2025, respectively (7,392,000) 6,902,000
Less: reclassification adjustment for realized gains (losses) included in net income, net of taxes of ($5) and $50 for three months ended March 31, 2026 and 2025, respectively 15,000 (131,000)
Other comprehensive income (loss), net of taxes (7,407,000) 7,033,000
Comprehensive income $ 18,920,000 $ 29,204,000
v3.26.1
Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Other comprehensive income (loss)    
Unrealized gains (losses) on available-for-sale securities, taxes $ 2,778 $ (2,594)
Reclassification adjustment for realized gains (losses) included in net income, taxes $ (5) $ 50
v3.26.1
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
Total
Two Rivers Financial Group, Inc
Common Stock
Common Stock
Two Rivers Financial Group, Inc
Additional Paid-in Capital
Additional Paid-in Capital
Two Rivers Financial Group, Inc
Retained Earnings
Deferred Compensation
Accumulated Other Comprehensive Loss
Treasury Stock
Beginning 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 available to common stockholders 22,171,000           22,171,000      
Other comprehensive income (loss), net tax 7,033,000               7,033,000  
Cash dividends on common stock (5,727,000)           (5,727,000)      
Issuance of restricted shares pursuant to 2017 stock incentive plan, net of forfeitures 2,869,000   294,000   2,575,000          
Issuance of common shares pursuant to 2017 stock incentive plan 218,000   22,000   196,000          
Issuance of common shares pursuant to the employee stock purchase plan 216,000   28,000   188,000          
Deferred compensation (2,960,000)             (2,779,000)   (181,000)
Grant of restricted units pursuant to 2017 stock incentive plan 1,791,000       1,791,000          
Release of restricted units pursuant to 2017 stock incentive plan (1,634,000)       (1,634,000)          
Vested restricted shares/units compensation expense 581,000       49,000     532,000    
Ending balance at Mar. 31, 2025 870,949,000   100,602,000   515,975,000   411,633,000 509,000 (135,350,000) (22,420,000)
Beginning 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)
Net income available to common stockholders 26,327,000           26,327,000      
Other comprehensive income (loss), net tax (7,407,000)               (7,407,000)  
Cash dividends on common stock (5,984,000)           (5,984,000)      
Issuance of restricted shares pursuant to 2017 stock incentive plan, net of forfeitures 3,569,000   328,000   3,241,000          
Issuance of common shares pursuant to 2017 stock incentive plan 304,000   28,000   276,000          
Issuance of common shares pursuant to the employee stock purchase plan 222,000   28,000   194,000          
Issuance of shares pursuant to the acquisition   $ 104,158,000   $ 10,159,000   $ 93,999,000        
Purchase of treasury shares (500,000)                 (500,000)
Deferred compensation (3,739,000)             (3,563,000)   (176,000)
Grant of restricted units pursuant to 2017 stock incentive plan 2,299,000       2,299,000          
Release of restricted units pursuant to 2017 stock incentive plan (2,070,000)       (2,070,000)          
Vested restricted shares/units compensation expense 755,000       51,000     704,000    
Ending balance at Mar. 31, 2026 $ 1,076,626,000   $ 111,231,000   $ 614,974,000   $ 483,886,000 $ (205,000) $ (108,708,000) $ (24,552,000)
v3.26.1
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash dividends declared per common share $ 0.25 $ 0.24
Stock issued during period, shares, employee stock purchase plans 6,975 6,891
Restricted stock issued during period, shares, pursuant to the 2017 stock incentive plan, net of forfeitures 81,913 73,618
Common stock issued during period, shares, pursuant to the 2017 stock incentive plan 6,975 5,600
Purchase of treasury shares (in shares) 12,686  
Two Rivers Financial Group, Inc    
Stock Issued During Period, Shares, Acquisitions 2,539,831  
v3.26.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 26,327 $ 22,171
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 2,598 1,652
Depreciation, amortization and accretion, net 5,356 4,996
Change in cash surrender value of bank owned life insurance (1,340) (1,200)
Gain on cash surrender value of bank owned life insurance 0 (487)
Stock-based compensation expense 865 688
Operating lease payments (852) (822)
Loss (gain) on sale of investment securities, net (20) 181
Loss on sales and write-downs of other real estate owned, net 52 80
Loss on sale of premises and equipment 6 14
Gain on sale of loans held for sale, net (927) (641)
Loss on repayment of subordinated debt 0 289
Gain on repayment of other borrowings 0 (85)
Decrease (increase) in accrued interest receivable (2,396) 1,186
Decrease (increase) in accrued interest payable 31 1,486
Origination of loans held for sale (34,261) (25,500)
Proceeds from sale of loans held for sale 33,924 29,111
Decrease in other assets (2,245) 21,118
Decrease in other liabilities (2,041) (6,353)
Net cash provided by operating activities 25,077 47,884
Cash flows from investing activities:    
Proceeds from maturities of certificates of deposits 840 980
Purchases of certificates of deposits (2,160) 0
Proceeds from sales of investment securities available-for-sale 167,803 8,291
Proceeds from maturities of investment securities available-for-sale 24,027 23,927
Purchases of investment securities available-for-sale (131,846) (500)
Purchase of investment securities held-to-maturity (3) (21)
Net increase in loans (63,743) (31,149)
Purchases of premises and equipment (1,960) (1,930)
Proceeds from sale of premises and equipment 20 3,500
Proceeds from sales of other real property owned, net 270 33
Proceeds from bank owned life insurance death benefit 0 1,414
Purchase of other investments (1,984) 0
Net cash provided by acquisition 88,269 0
Net cash provided by investing activities 79,533 4,545
Cash flows from financing activities:    
Net increase in deposits 111,573 73,284
Increase in repurchase agreements with customers 12,095 15,650
Proceeds from other borrowings 0 54,000
Repayment of other borrowings (206) (101,435)
Repayment of subordinated debt 0 (8,381)
Proceeds from issuance of common stock 524 434
Purchase of treasury stock (500) 0
Dividends paid on common stock (5,984) (5,727)
Net cash provided by financing activities 117,502 27,825
Increase in cash and cash equivalents 222,112 80,254
Cash and cash equivalents at beginning of period 254,920 121,216
Cash and cash equivalents at end of period 477,032 201,470
Cash paid (received) during the period for:    
Interest 29,017 26,805
Total income taxes, net of refunds (286) (1,191)
Supplemental disclosures of noncash investing and financing activities    
Loans transferred to other real estate owned 2,023 0
Fixed assets transferred to other real estate owned 950 0
Initial recognition of right-of-use assets in exchange for lease liabilities 57 668
Supplemental disclosures of purchases of capital stock    
Fair value of assets acquired 1,186,786 11,449
Cash paid 2 9,000
Common stock issued 104,159  
Total consideration paid 104,161 9,000
Fair value of liabilities assumed 1,082,625 2,449
US Federal    
Cash paid (received) during the period for:    
Total income taxes, net of refunds 0 (1,009)
State of Illinois    
Cash paid (received) during the period for:    
Total income taxes, net of refunds (206) (154)
State of Wisconsin    
Cash paid (received) during the period for:    
Total income taxes, net of refunds (80) 0
Other    
Cash paid (received) during the period for:    
Total income taxes, net of refunds $ 0 $ (28)
v3.26.1
Pay vs Performance Disclosure - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Pay vs Performance Disclosure    
Net Income (Loss) $ 26,327,000 $ 22,171,000
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
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
v3.26.1
Basis of Accounting and Consolidation
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Accounting and Consolidation

Note 1 -- Basis of Accounting and Consolidation

The unaudited condensed 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”), Two Rivers Bank & Trust (“Two Rivers Bank”), First Mid Wealth Management Company (“First Mid Wealth Management”), First Mid Insurance Group, Inc. (“First Mid Insurance”), and First Mid Captive, Inc. (“the Captive”). All significant intercompany balances and transactions have been eliminated in consolidation. The financial information reflects all adjustments which, in the opinion of management, are necessary for a fair presentation of the results of the interim periods ended March 31, 2026 and 2025, and all such adjustments are of a normal recurring nature. Certain amounts in the prior year’s consolidated financial statements may have been reclassified to conform to the March 31, 2026 presentation and there was no impact on net income or stockholders’ equity. The results of the interim period ended March 31, 2026 are not necessarily indicative of the results expected for the year-ending December 31, 2026. The 2025 year-end consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America.

The unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements and related footnote disclosures, although the Company believes that the disclosures made are adequate to make the information not misleading. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2025 Annual Report on Form 10-K.

Acquisitions

Downs Insurance Agency, Inc. During the quarter ended March 31, 2026, Downs Insurance Agency, Inc. (DIA) customer list was acquired by the Company for a purchase price of $1.4 million and immediately assigned to First Mid Insurance Group.

Two Rivers Financial Group, Inc. 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 “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 would merge with and into Star Sub LLC, whereupon the separate corporate existence of Two Rivers would cease and Star Sub LLC would continue as a surviving company and a wholly-owned subsidiary of the Company (the “Merger”).

Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, each share of common stock of Two Rivers issued and outstanding immediately prior to the effective time of the Merger (other than shares held in treasury by Two Rivers) was converted into and became 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 Merger to Two Rivers shareholders and equity award holders was 2,539,831 shares of the Company common stock valued at $104.2 million and $2,000 of cash-in-lieu of fractional shares.

It is anticipated that Two Rivers Bank will be merged with and into First Mid Bank in June 2026. At which time, Two Rivers Bank offices will become branches of First Mid Bank.

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. (MRIG) was acquired by the Company for a purchase price of $10.1 million and immediately merged into First Mid Insurance Group.

Note 5 and 8 provide further information on the intangibles acquired in the above acquisitions.

Summary of Significant Accounting Policies

Segment Reporting

The Company operates as a single segment entity for financial reporting purposes. 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 March 31, 2026, management has reviewed the requirements of generally accepted accounting principles 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 generally accepted accounting principles, and no additional qualitative segment disclosures are necessary.

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss included in stockholders’ equity as of March 31, 2026 and December 31, 2025 are as follows (in thousands):

 

 

Unrealized Losses on Securities

 

March 31, 2026

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(148,966

)

Tax benefit

 

 

40,258

 

Balance at March 31, 2026

 

$

(108,708

)

 

 

 

December 31, 2025

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(138,930

)

Tax benefit

 

 

37,629

 

Balance at December 31, 2025

 

$

(101,301

)

 

Amounts reclassified from accumulated other comprehensive loss and the affected line items in the statements of income during the three months ended March 31, 2026 and 2025, were as follows (in thousands):

 

Amounts Reclassified from Other Comprehensive Income (Loss)

 

 

 

 

 

Three months ended

 

 

 

 

 

March 31,

 

 

Affected Line Item in the

 

 

2026

 

 

2025

 

 

Statements of Income

Realized gain (loss) on available-for-sale securities, net

 

$

20

 

 

$

(181

)

 

Investment securities gains (losses), net (total reclassified amount before tax)

Income tax benefit (expense)

 

 

(5

)

 

 

50

 

 

 Income taxes

Total reclassifications out of accumulated other comprehensive income (loss)

 

$

15

 

 

$

(131

)

 

Net reclassified amount

 

See “Note 3 – Investment Securities” for more detailed information regarding unrealized losses on available-for-sale securities.

New Accounting Pronouncements

In November 2024, the Financial Accounting Standards Board issued ASU 2024-03 “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” to require additional disclosures within the notes to the financial statements about certain expense items. Specifically, disaggregation of income statement captions that contain expenses within the following five categories is required: (1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, and (5) depreciation, depletion, and amortization (“DD&A”) costs recognized as part of oil- and gas-producing activities or other amounts of depletion expense. Further, this update requires disclosure of the total amount of selling expenses and the Company’s definition of selling expenses. This update provides a practical expedient for banks and bank holding companies to continue presenting salaries and employee benefits in conformity with SEC Rule 210.9-04 instead of requiring those entities to apply the employee compensation definition included in Subtopic 220-40. The amendments in this update may be applied on either a prospective or retrospective basis and will be effective for the Company beginning with the annual reporting period ending December 31, 2027, and interim reporting periods beginning January 1, 2028. The Company does not expect adoption of this ASU to have any impact on its financial position or results of operations because it only results in additional disclosures.

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 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 adopted this standard as of January 1, 2026.
v3.26.1
Earnings Per Share
 3 Months Ended
Mar. 31, 2026
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 three months ended March 31, 2026 and 2025 were as follows:

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Basic net income per common share available to common stockholders:

 

 

 

 

 

 

Net income available to common stockholders

 

$

26,327,000

 

 

$

22,171,000

 

Weighted average common shares outstanding

 

 

24,777,247

 

 

 

23,858,817

 

Basic earnings per common share

 

$

1.06

 

 

$

0.93

 

Diluted net income per common share available to common stockholders:

 

 

 

 

 

 

Net income available to common stockholders

 

$

26,327,000

 

 

$

22,171,000

 

Weighted average common shares outstanding

 

 

24,777,247

 

 

 

23,858,817

 

Dilutive potential common shares:

 

 

 

 

 

 

Restricted stock awarded

 

 

116,555

 

 

 

100,411

 

Diluted weighted average common shares outstanding

 

 

24,893,802

 

 

 

23,959,228

 

Diluted earnings per common share

 

$

1.06

 

 

$

0.93

 

 

 

There were no shares not considered in computing diluted earnings per share for the three months ended March 31, 2026 and 2025.
v3.26.1
Investment Securities
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Investment Securities

Note 3 -- 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 March 31, 2026 and December 31, 2025 were as follows (in thousands):

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
(Losses)

 

 

Fair Value

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

153,813

 

 

$

—

 

 

$

(10,234

)

 

$

143,579

 

Obligations of states and political subdivisions

 

 

327,480

 

 

 

234

 

 

 

(52,478

)

 

 

275,236

 

Mortgage-backed securities (1)

 

 

819,041

 

 

 

1,258

 

 

 

(86,948

)

 

 

733,351

 

Corporate bonded debt

 

 

24,703

 

 

 

—

 

 

 

(798

)

 

 

23,905

 

Total available-for-sale

 

$

1,325,037

 

 

$

1,492

 

 

$

(150,458

)

 

$

1,176,071

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Other securities

 

$

2,271

 

 

$

—

 

 

$

—

 

 

$

2,271

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 $4.7 million and $4.6 million of equity securities, at fair value, as of March 31, 2026 and December 31, 2025, 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 March 31, 2026, 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 three months ended March 31, 2026 and 2025 (in thousands):

 

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Proceeds from sales

 

$

167,803

 

 

$

8,291

 

Gross gains

 

 

20

 

 

 

—

 

Gross losses

 

 

—

 

 

 

(181

)

Income tax benefit (expense)

 

 

(5

)

 

 

49

 

 

The following table presents the aging of gross unrealized losses and fair value by investment category as of March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

 

 

Fair
Value

 

 

Unrealized
Losses

 

 

Fair
Value

 

 

Unrealized
Losses

 

 

Fair
Value

 

 

Unrealized
Losses

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

797

 

 

$

—

 

 

$

142,331

 

 

$

(10,234

)

 

$

143,128

 

 

$

(10,234

)

Obligations of states and political subdivisions

 

 

32,023

 

 

 

(431

)

 

 

225,095

 

 

 

(52,047

)

 

 

257,118

 

 

 

(52,478

)

Mortgage-backed securities (1)

 

 

170,102

 

 

 

(3,042

)

 

 

465,341

 

 

 

(83,906

)

 

 

635,443

 

 

 

(86,948

)

Corporate bonded debt

 

 

3,975

 

 

 

(24

)

 

 

17,180

 

 

 

(774

)

 

 

21,155

 

 

 

(798

)

Total

 

$

206,897

 

 

$

(3,497

)

 

$

849,947

 

 

$

(146,961

)

 

$

1,056,844

 

 

$

(150,458

)

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

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 March 31, 2026, there were four hundred sixty-three available-for-sale securities with a fair value of $849.9 million and unrealized losses of $147.0 million in a continuous unrealized loss position for twelve months or more. 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 March 31, 2026 and December 31, 2025, 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 March 31, 2026, to be experiencing credit losses and recognized no resulting allowance for credit losses. The Company does not intend to sell a significant amount of the investments unless they are acquired and subsequently marked to fair value, 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 after purchase.
v3.26.1
Loans and Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Loans and Allowance for Credit Losses

Note 4 -- 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 March 31, 2026 and December 31, 2025 follows (in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

Construction and land development

 

$

319,945

 

 

$

361,678

 

Agricultural real estate

 

 

405,226

 

 

 

374,143

 

1-4 family residential properties

 

 

746,704

 

 

 

494,258

 

Multifamily residential properties

 

 

457,705

 

 

 

340,324

 

Commercial real estate

 

 

2,972,812

 

 

 

2,582,404

 

Loans secured by real estate

 

 

4,902,392

 

 

 

4,152,807

 

Agricultural loans

 

 

370,124

 

 

 

307,290

 

Commercial and industrial loans

 

 

1,502,384

 

 

 

1,385,421

 

Consumer loans

 

 

39,672

 

 

 

32,109

 

All other loans

 

 

179,008

 

 

 

161,604

 

Total gross loans

 

 

6,993,580

 

 

 

6,039,231

 

Less: loans held for sale

 

 

4,909

 

 

 

5,203

 

Total gross loans held for investment

 

 

6,988,671

 

 

 

6,034,028

 

Less:

 

 

 

 

 

 

Net deferred loan fees, premiums, and discounts

 

 

49,304

 

 

 

27,857

 

Allowance for credit losses

 

 

86,814

 

 

 

74,875

 

Net loans

 

$

6,852,553

 

 

$

5,931,296

 

 

Net loans increased $921.3 million as of March 31, 2026 compared to December 31, 2025. 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 $40.1 million and $35.1 million at March 31, 2026 and December 31, 2025, 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 threshold 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 March 31, 2026 (in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

First Mid Bank

 

 

 

 

 

 

Commercial real estate

 

 

 

 

 

 

Owner occupied

 

$

744,435

 

 

$

747,512

 

Non-owner occupied

 

 

 

 

 

 

Shopping centers and malls

 

 

270,895

 

 

 

264,961

 

Industrial and warehouse

 

 

247,069

 

 

 

237,522

 

Hotels and motels

 

 

216,141

 

 

 

218,073

 

Skilled nursing facility

 

 

192,441

 

 

 

187,875

 

Assisted living facility

 

 

168,834

 

 

 

170,733

 

Office

 

 

162,049

 

 

 

160,524

 

Retail

 

 

112,492

 

 

 

112,169

 

RV parks and campgrounds

 

 

99,159

 

 

 

104,267

 

Other property types

 

 

388,656

 

 

 

378,768

 

First Mid Bank total commercial real estate

 

$

2,602,171

 

 

$

2,582,404

 

 

 

 

 

 

 

 

Two Rivers Bank

 

 

 

 

 

 

Commercial real estate

 

 

 

 

 

 

Owner occupied

 

$

97,705

 

 

$

—

 

Non-owner occupied

 

 

272,936

 

 

 

—

 

Two Rivers Bank total commercial real estate

 

$

370,641

 

 

$

—

 

Total commercial real estate

 

$

2,972,812

 

 

$

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 to be 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, term loans to fund the purchase of equipment, and the Company's Direct Merchant Finance product to fund crop inputs, primarily seed. 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. The Direct Merchant Finance loans are typically written for one year and are generally unsecured. 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 multifamily 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 million 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 multifamily, 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 threshold 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, their risk rating assigned is Substandard and their principal balances exceeds $5 million, or they are 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 all loans not mentioned above in the individually evaluated loans section. 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 increased for the period due to past due levels increasing primarily from the addition of the Two Rivers Bank loan portfolio.

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 were unchanged during the quarter.

Residential Real Estate Non-Owner Occupied Loans. The loan segment increased in the quarter from the addition of the Two Rivers Bank loan portfolio. The qualitative factors for this segment increased during the quarter due to this addition, including products not historically offered by First Mid Bank and variations in credit administration of the loans acquired.

Residential Real Estate Owner Occupied Loans. The loan segment increased in the quarter from the addition of the Two Rivers Bank loan portfolio. The qualitative factors for this segment increased during the quarter due to this addition, including products not historically offered by First Mid Bank and variations in the credit administration of the loans acquired. The qualitative factors for this loan segment also increased due to an increase in past dues.

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. The quarter ended with lower past dues in this loan segment, which reduced the qualitative factors.

Commercial Real Estate Non-Owner Occupied Loans. This segment includes the Company's largest balances. The portfolio showed overall stability during the quarter and no changes to qualitative factors were made for this segment.

Agricultural Loans. Losses in this segment include the Company's Direct Merchant Financing product, which inherently comes with higher overall risk of losses. Overall past dues in this segment increased during the quarter and drove a higher qualitative factor adjustment.

Commercial and Industrial Loans. Most of the repricing to higher rates in this loan segment has already occurred. There were no changes to qualitative factors during the quarter.

Consumer Loans. This segment is a small portion of the Company's loan portfolio. Historical net charge-offs have been immaterial in this segment. No changes to qualitative factors were made during the quarter.

The following table presents the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of the three months ended March 31, 2026 (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

 

Three months ended
March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

5,129

 

 

$

1,283

 

 

$

3,753

 

 

$

35,589

 

 

$

1,401

 

 

$

26,285

 

 

$

1,435

 

 

$

74,875

 

Initial allowance on loans acquired

 

 

986

 

 

 

184

 

 

 

2,140

 

 

 

5,360

 

 

 

76

 

 

 

1,904

 

 

 

191

 

 

 

10,841

 

Provision (release) for credit loss expense

 

 

(1,175

)

 

 

(12

)

 

 

(117

)

 

 

1,780

 

 

 

1,176

 

 

 

615

 

 

 

331

 

 

 

2,598

 

Loans charged off

 

 

—

 

 

 

(40

)

 

 

(26

)

 

 

(1,111

)

 

 

—

 

 

 

(291

)

 

 

(498

)

 

 

(1,966

)

Recoveries collected

 

 

—

 

 

 

—

 

 

 

193

 

 

 

1

 

 

 

10

 

 

 

40

 

 

 

222

 

 

 

466

 

Ending balance

 

$

4,940

 

 

$

1,415

 

 

$

5,943

 

 

$

41,619

 

 

$

2,663

 

 

$

28,553

 

 

$

1,681

 

 

$

86,814

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table presents the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of the three months ended March 31, 2025 (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

 

Three months ended
March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

3,275

 

 

$

1,361

 

 

$

3,579

 

 

$

32,669

 

 

$

1,957

 

 

$

25,602

 

 

$

1,739

 

 

$

70,182

 

Initial allowance on loans acquired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provision (release) for credit loss expense

 

 

456

 

 

 

(69

)

 

 

(14

)

 

 

(125

)

 

 

809

 

 

 

559

 

 

 

36

 

 

 

1,652

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

(39

)

 

 

(338

)

 

 

(1,117

)

 

 

(223

)

 

 

(366

)

 

 

(2,083

)

Recoveries collected

 

 

—

 

 

 

—

 

 

 

18

 

 

 

8

 

 

 

—

 

 

 

90

 

 

 

184

 

 

 

300

 

 Ending balance

 

$

3,731

 

 

$

1,292

 

 

$

3,544

 

 

$

32,214

 

 

$

1,649

 

 

$

26,028

 

 

$

1,593

 

 

$

70,051

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 where 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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

Collateral

 

 

Allowance
for Credit
Losses

 

Three months ended March 31, 2026

 

Real Estate

 

 

Business
Assets

 

 

Other

 

 

Total

 

 

 

 

Construction and land development

 

$

8,465

 

 

$

—

 

 

$

—

 

 

$

8,465

 

 

$

620

 

Agricultural real estate

 

 

506

 

 

 

—

 

 

 

—

 

 

 

506

 

 

 

—

 

1-4 family residential properties

 

 

262

 

 

 

—

 

 

 

—

 

 

 

262

 

 

 

16

 

Multifamily residential properties

 

 

358

 

 

 

—

 

 

 

—

 

 

 

358

 

 

 

—

 

Commercial real estate

 

 

27,839

 

 

 

—

 

 

 

—

 

 

 

27,839

 

 

 

163

 

Loans secured by real estate

 

 

37,430

 

 

 

—

 

 

 

—

 

 

 

37,430

 

 

 

799

 

Agricultural loans

 

 

—

 

 

 

—

 

 

 

628

 

 

 

628

 

 

 

628

 

Commercial and industrial loans

 

 

—

 

 

 

7,996

 

 

 

29

 

 

 

8,025

 

 

 

2

 

Other loans

 

 

—

 

 

 

10,854

 

 

 

—

 

 

 

10,854

 

 

 

165

 

Total loans

 

$

37,430

 

 

$

18,850

 

 

$

657

 

 

$

56,937

 

 

$

1,594

 

Twelve months ended December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

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

 

Agricultural loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial and industrial loans

 

 

—

 

 

 

7,123

 

 

 

29

 

 

 

7,152

 

 

 

392

 

Other loans

 

 

—

 

 

 

11,184

 

 

 

—

 

 

 

11,184

 

 

 

84

 

Total loans

 

$

31,290

 

 

$

18,307

 

 

$

29

 

 

$

49,626

 

 

$

489

 

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 March 31, 2026 (in thousands):

 

March 31, 2026

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2026

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

Prior

 

 

Loans

 

 

Total

 

Construction and land development loans

 

Pass

 

$

114,672

 

 

$

115,440

 

 

$

5,549

 

 

$

11,944

 

 

$

32,841

 

 

$

27,000

 

 

$

—

 

 

$

307,446

 

Special mention

 

 

—

 

 

 

—

 

 

 

457

 

 

 

—

 

 

 

342

 

 

 

—

 

 

 

—

 

 

 

799

 

Substandard

 

 

—

 

 

 

—

 

 

 

4,968

 

 

 

5

 

 

 

464

 

 

 

3,041

 

 

 

—

 

 

 

8,478

 

Total

 

$

114,672

 

 

$

115,440

 

 

$

10,974

 

 

$

11,949

 

 

$

33,647

 

 

$

30,041

 

 

$

—

 

 

$

316,723

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 Agricultural real estate loans

 

 Pass

 

$

41,672

 

 

$

28,126

 

 

$

14,734

 

 

$

96,710

 

 

$

142,215

 

 

$

682

 

 

$

—

 

 

$

324,139

 

Special mention

 

 

918

 

 

 

2,361

 

 

 

893

 

 

 

32,019

 

 

 

21,924

 

 

 

4,775

 

 

 

—

 

 

 

62,890

 

Substandard

 

 

1,033

 

 

 

—

 

 

 

—

 

 

 

757

 

 

 

11,301

 

 

 

663

 

 

 

—

 

 

 

13,754

 

 Total

 

$

43,623

 

 

$

30,487

 

 

$

15,627

 

 

$

129,486

 

 

$

175,440

 

 

$

6,120

 

 

$

—

 

 

$

400,783

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

40

 

 

$

—

 

 

$

40

 

 1-4 family residential properties

 

 Pass

 

$

77,345

 

 

$

46,338

 

 

$

49,723

 

 

$

110,835

 

 

$

318,391

 

 

$

15,728

 

 

$

102,440

 

 

$

720,800

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

179

 

 

 

681

 

 

 

—

 

 

 

—

 

 

 

860

 

Substandard

 

 

125

 

 

 

581

 

 

 

574

 

 

 

834

 

 

 

7,976

 

 

 

1,357

 

 

 

946

 

 

 

12,393

 

 Total

 

$

77,470

 

 

$

46,919

 

 

$

50,297

 

 

$

111,848

 

 

$

327,048

 

 

$

17,085

 

 

$

103,386

 

 

$

734,053

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

16

 

 

$

10

 

 

$

—

 

 

$

26

 

 Commercial real estate loans

 

 Pass

 

$

489,277

 

 

$

251,123

 

 

$

309,047

 

 

$

655,550

 

 

$

1,533,869

 

 

$

96,953

 

 

$

—

 

 

$

3,335,819

 

Special mention

 

 

—

 

 

 

418

 

 

 

1,227

 

 

 

12,817

 

 

 

5,204

 

 

 

5,213

 

 

 

—

 

 

 

24,879

 

Substandard

 

 

—

 

 

 

8,668

 

 

 

13,597

 

 

 

5,519

 

 

 

11,683

 

 

 

4,044

 

 

 

—

 

 

 

43,511

 

 Total

 

$

489,277

 

 

$

260,209

 

 

$

323,871

 

 

$

673,886

 

 

$

1,550,756

 

 

$

106,210

 

 

$

—

 

 

$

3,404,209

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

753

 

 

$

358

 

 

$

—

 

 

$

—

 

 

$

1,111

 

 Agricultural loans

 

 Pass

 

$

185,712

 

 

$

37,265

 

 

$

11,289

 

 

$

16,573

 

 

$

21,424

 

 

$

66,582

 

 

$

—

 

 

$

338,845

 

Special mention

 

 

16,584

 

 

 

8,519

 

 

 

236

 

 

 

676

 

 

 

155

 

 

 

54

 

 

 

—

 

 

 

26,224

 

Substandard

 

 

1,732

 

 

 

294

 

 

 

1,403

 

 

 

770

 

 

 

453

 

 

 

1,210

 

 

 

—

 

 

 

5,862

 

 Total

 

$

204,028

 

 

$

46,078

 

 

$

12,928

 

 

$

18,019

 

 

$

22,032

 

 

$

67,846

 

 

$

—

 

 

$

370,931

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 Commercial and industrial loans

 

 Pass

 

$

441,881

 

 

$

217,030

 

 

$

96,263

 

 

$

209,636

 

 

$

532,065

 

 

$

92,451

 

 

$

—

 

 

$

1,589,326

 

Special mention

 

 

18,941

 

 

 

9,905

 

 

 

2,975

 

 

 

9,211

 

 

 

22,675

 

 

 

271

 

 

 

—

 

 

 

63,978

 

Substandard

 

 

—

 

 

 

1,418

 

 

 

2,132

 

 

 

1,312

 

 

 

18,839

 

 

 

975

 

 

 

—

 

 

 

24,676

 

 Total

 

$

460,822

 

 

$

228,353

 

 

$

101,370

 

 

$

220,159

 

 

$

573,579

 

 

$

93,697

 

 

$

—

 

 

$

1,677,980

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

290

 

 

$

—

 

 

$

1

 

 

$

—

 

 

$

291

 

 Consumer loans

 

 Pass

 

$

9,634

 

 

$

4,539

 

 

$

3,847

 

 

$

11,842

 

 

$

6,623

 

 

$

2,641

 

 

$

—

 

 

$

39,126

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18

 

Substandard

 

 

—

 

 

 

25

 

 

 

22

 

 

 

197

 

 

 

196

 

 

 

9

 

 

 

—

 

 

 

449

 

Doubtful

 

 

2

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4

 

 Total

 

$

9,636

 

 

$

4,566

 

 

$

3,869

 

 

$

12,057

 

 

$

6,819

 

 

$

2,650

 

 

$

—

 

 

$

39,597

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

8

 

 

$

6

 

 

$

40

 

 

$

444

 

 

$

—

 

 

$

498

 

 Total loans

 

 Pass

 

$

1,360,193

 

 

$

699,861

 

 

$

490,452

 

 

$

1,113,090

 

 

$

2,587,428

 

 

$

302,037

 

 

$

102,440

 

 

$

6,655,501

 

Special mention

 

 

36,443

 

 

 

21,203

 

 

 

5,788

 

 

 

54,920

 

 

 

50,981

 

 

 

10,313

 

 

 

—

 

 

 

179,648

 

Substandard

 

 

2,890

 

 

 

10,986

 

 

 

22,696

 

 

 

9,394

 

 

 

50,912

 

 

 

11,299

 

 

 

946

 

 

 

109,123

 

Doubtful

 

 

2

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4

 

Total

 

$

1,399,528

 

 

$

732,052

 

 

$

518,936

 

 

$

1,177,404

 

 

$

2,689,321

 

 

$

323,649

 

 

$

103,386

 

 

$

6,944,276

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

8

 

 

$

1,049

 

 

$

414

 

 

$

495

 

 

$

—

 

 

$

1,966

 

 

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 (in thousands):

 

December 31, 2025

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Loans

 

 

Total

 

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 write-offs

 

$

—

 

 

$

—

 

 

$

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 write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 1-4 family residential properties

 

 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 write-offs

 

$

—

 

 

$

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 write-offs

 

$

—

 

 

$

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 write-offs

 

$

—

 

 

$

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 write-offs

 

$

—

 

 

$

—

 

 

$

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 write-offs

 

$

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 write-offs

 

$

5

 

 

$

1,014

 

 

$

1,387

 

 

$

1,551

 

 

$

846

 

 

$

3,070

 

 

$

—

 

 

$

7,873

 

 

The following table presents the Company’s loan portfolio, on an amortized cost basis, aging analysis at March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

90 Days
or More
Past Due

 

 

Total
Past Due

 

 

Current

 

 

Total Loans
Receivable

 

 

Total Loans
> 90 Days and
Accruing

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

—

 

 

$

3,266

 

 

$

3,439

 

 

$

6,705

 

 

$

310,018

 

 

$

316,723

 

 

$

—

 

Agricultural real estate

 

 

162

 

 

 

—

 

 

 

841

 

 

 

1,003

 

 

 

399,780

 

 

 

400,783

 

 

 

—

 

1-4 family residential properties

 

 

5,676

 

 

 

943

 

 

 

1,577

 

 

 

8,196

 

 

 

725,857

 

 

 

734,053

 

 

 

—

 

Multifamily residential properties

 

 

107

 

 

 

—

 

 

 

145

 

 

 

252

 

 

 

455,933

 

 

 

456,185

 

 

 

—

 

Commercial real estate

 

 

4,980

 

 

 

450

 

 

 

3,458

 

 

 

8,888

 

 

 

2,939,136

 

 

 

2,948,024

 

 

 

—

 

Loans secured by real estate

 

 

10,925

 

 

 

4,659

 

 

 

9,460

 

 

 

25,044

 

 

 

4,830,724

 

 

 

4,855,768

 

 

 

—

 

Agricultural loans

 

 

695

 

 

 

17

 

 

 

2,520

 

 

 

3,232

 

 

 

367,699

 

 

 

370,931

 

 

 

—

 

Commercial and industrial loans

 

 

1,238

 

 

 

561

 

 

 

1,814

 

 

 

3,613

 

 

 

1,495,466

 

 

 

1,499,079

 

 

 

—

 

Consumer loans

 

 

285

 

 

 

72

 

 

 

85

 

 

 

442

 

 

 

39,155

 

 

 

39,597

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

178,901

 

 

 

178,901

 

 

 

—

 

Total loans

 

$

13,143

 

 

$

5,309

 

 

$

13,879

 

 

$

32,331

 

 

$

6,911,945

 

 

$

6,944,276

 

 

$

—

 

Percent of total loans

 

 

 

 

 

 

 

 

 

 

 

0.47

%

 

 

 

 

 

 

 

 

 

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

%

 

 

 

 

 

 

 

 

 

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 loans, 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's income. Subsequent receipts on nonaccrual 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 as of March 31, 2026 and December 31, 2025 (in thousands). This table excludes performing purchased credit deteriorated loans and performing loans modified.

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Nonaccrual
with no
Allowance for

 

 

Total

 

 

Nonaccrual
with no
Allowance for

 

 

Total

 

 

 

Credit Loss

 

 

Nonaccrual

 

 

Credit Loss

 

 

Nonaccrual

 

Construction and land development

 

$

3,796

 

 

$

8,470

 

 

$

5

 

 

$

5

 

Agricultural real estate

 

 

1,562

 

 

 

1,562

 

 

 

1,181

 

 

 

1,181

 

1-4 family residential properties

 

 

6,158

 

 

 

7,680

 

 

 

4,940

 

 

 

5,763

 

Multifamily residential properties

 

 

503

 

 

 

503

 

 

 

371

 

 

 

371

 

Commercial real estate

 

 

8,033

 

 

 

8,347

 

 

 

10,109

 

 

 

10,381

 

Loans secured by real estate

 

 

20,052

 

 

 

26,562

 

 

 

16,606

 

 

 

17,701

 

Agricultural loans

 

 

1,909

 

 

 

2,537

 

 

 

19

 

 

 

19

 

Commercial and industrial loans

 

 

3,028

 

 

 

3,057

 

 

 

1,232

 

 

 

1,967

 

Consumer loans

 

 

181

 

 

 

181

 

 

 

182

 

 

 

182

 

All other loans

 

 

1,823

 

 

 

10,854

 

 

 

1,942

 

 

 

11,184

 

Total loans

 

$

26,993

 

 

$

43,191

 

 

$

19,981

 

 

$

31,053

 

The aggregate principal balances of nonaccrual, past due ninety days or more loans were $43.2 million and $31.1 million at March 31, 2026 and December 31, 2025, respectively. Interest income that would have been recorded under the original terms of such nonaccrual loans totaled $501,000 and $471,000 for the three months ended March 31, 2026 and 2025, respectively.

Loan Modifications to Borrowers Experiencing Financial Difficulty

The following table shows the amortized cost of loans at March 31, 2026 and 2025 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

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

283

 

 

$

—

 

 

$

—

 

 

 

—

%

1-4 family residential properties

 

 

32

 

 

 

1,061

 

 

 

—

 

 

 

0.02

%

Commercial real estate

 

 

1,262

 

 

 

—

 

 

 

505

 

 

 

0.03

%

Loans secured by real estate

 

 

1,577

 

 

 

1,061

 

 

 

505

 

 

 

0.05

%

Commercial and industrial loans

 

 

418

 

 

 

211

 

 

 

—

 

 

 

0.01

%

Consumer loans

 

 

—

 

 

 

3

 

 

 

—

 

 

 

—

%

Total

 

$

1,995

 

 

$

1,275

 

 

$

505

 

 

 

0.06

%

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

304

 

 

$

—

 

 

$

—

 

 

 

0.01

%

1-4 family residential properties

 

 

42

 

 

 

748

 

 

 

—

 

 

 

0.01

%

Commercial real estate

 

 

822

 

 

 

158

 

 

 

979

 

 

 

0.03

%

Loans secured by real estate

 

 

1,168

 

 

 

906

 

 

 

979

 

 

 

0.05

%

Commercial and industrial loans

 

 

859

 

 

 

87

 

 

 

—

 

 

 

0.02

%

Consumer loans

 

 

2

 

 

 

7

 

 

 

—

 

 

 

—

%

Total

 

$

2,029

 

 

$

1,000

 

 

$

979

 

 

 

0.07

%

 

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 March 31, 2026 and 2025.

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

90 Days
or More
Past Due

 

 

Total Past
Due

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

174

 

 

 

—

 

 

 

—

 

 

 

174

 

The following table shows the financial effect of loan modifications during the quarter ended March 31, 2026 and 2025 to borrowers experiencing financial difficulty.

 

 

Weighted Average

 

 

Weighted Average

 

 

 

Interest Rate

 

 

Term Extension

 

 

 

Reduction

 

 

(in months)

 

March 31, 2026

 

 

 

 

 

 

Commercial real estate

 

 

—

%

 

 

—

 

Commercial and industrial loans

 

 

—

%

 

 

12

 

March 31, 2025

 

 

 

 

 

 

Commercial real estate

 

 

1.00

%

 

 

—

 

Commercial and industrial loans

 

 

—

%

 

 

—

 

A loan is considered to be in payment default once it is 90 days past due under the modified terms. There were one and four loans modified during the prior twelve months that experienced payment defaults for the three months ended March 31, 2026 and 2025, respectively.

At March 31, 2026 and December 31, 2025, the balance of real estate owned included $5.5 million and $2.9 million respectively of foreclosed real estate properties recorded as a result of obtaining physical possession of the property. At March 31, 2026 and December 31, 2025, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceeds were in process were $6.0 million and $1.3 million, respectively.

v3.26.1
Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 5 -- Goodwill and Intangible Assets

The Company has goodwill from business combinations, 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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Gross Carrying
Value

 

 

Accumulated
Amortization

 

 

Gross Carrying
Value

 

 

Accumulated
Amortization

 

Goodwill

 

$

207,151

 

 

$

3,760

 

 

$

207,151

 

 

$

3,760

 

Core deposit intangibles

 

 

101,185

 

 

 

55,547

 

 

 

79,945

 

 

 

53,285

 

Customer list intangibles

 

 

40,814

 

 

 

16,805

 

 

 

34,420

 

 

 

16,021

 

Total

 

$

349,150

 

 

$

76,112

 

 

$

321,516

 

 

$

73,066

 

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.

During the quarter ended March 31, 2026, a customer list intangible asset of $1.4 million was recorded for the acquisition of DIA’s customer list in connection with its insurance business. The purchase consideration given to DIA matches the amount of intangible assets recorded.

No goodwill was recorded for the acquisition and merger of Two Rivers during the first quarter of 2026. The following table provides a reconciliation of the purchase price paid for the acquisition of Two Rivers and the lack of goodwill recorded (in thousands):

Unallocated purchase price

 

 

 

$

(14,671

)

Purchase accounting adjustments:

 

 

 

 

 

Decrease in fair value of securities

$

6,074

 

 

 

 

Decrease in fair value of loans, net

 

17,145

 

 

 

 

Decrease in fair value of premises and equipment

 

1,552

 

 

 

 

Decrease on time deposits

 

(131

)

 

 

 

Decrease in fair value of junior subordinated debt and other borrowings

 

(253

)

 

 

 

Increase in core deposit intangible

 

(17,056

)

 

 

 

Customer list intangible

 

(5,043

)

 

 

 

Recapture of existing goodwill

 

20,657

 

 

 

 

Other assets

 

(8,274

)

 

 

 

Total purchase accounting adjustments

 

 

 

 

14,671

 

Resulting goodwill from acquisition

 

 

 

$

—

 

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. 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. 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.

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

)

 

 

 

Total purchase accounting adjustments

 

 

 

 

3,129

 

Resulting goodwill from acquisition

 

 

 

$

6,930

 

The unpaid principal balance of mortgage loans serviced for others was $495.7 million, $557.6 million, and $509.7 million as of March 31, 2026, March 31, 2025, and December 31, 2025, respectively. The Company has mortgage servicing rights acquired in previous acquisitions. 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 three months ended March 31, 2026 and 2025 (in thousands):

 

 

March 31, 2026

 

 

March 31, 2025

 

Beginning balance

 

$

4,566

 

 

$

5,629

 

Adjustment to valuation reserve

 

 

—

 

 

 

1

 

Mortgage servicing rights amortized

 

 

(255

)

 

 

(287

)

Interest only strip

 

 

(2

)

 

 

(5

)

Ending balance

 

$

4,309

 

 

$

5,338

 

Fair value of portfolio

 

$

5,430

 

 

$

6,500

 

 

Total amortization expense for three months ended March 31, 2026 and 2025 was as follows (in thousands):

 

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Core deposit intangibles

 

$

2,262

 

 

$

2,263

 

Customer list intangibles

 

 

784

 

 

 

681

 

Mortgage servicing rights

 

 

255

 

 

 

287

 

Total

 

$

3,301

 

 

$

3,231

 

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

 

Aggregate amortization expense:

 

 

 

For period 01/01/26-03/31/26

 

$

3,301

 

Estimated amortization expense:

 

 

 

For period 04/01/26-12/31/26

 

 

11,509

 

For year-ended 12/31/27

 

 

13,911

 

For year-ended 12/31/28

 

 

12,276

 

For year-ended 12/31/29

 

 

10,502

 

For year-ended 12/31/30

 

 

8,117

 

The weighted average amortization period for core deposit, customer lists and total intangibles was 3.40, 4.77, and 3.87 years respectively, at March 31, 2026.

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.

v3.26.1
Repurchase Agreements and Other Borrowings
 3 Months Ended
Mar. 31, 2026
Repurchase Agreements And Other Borrowings [Abstract]  
Repurchase Agreements and Other Borrowings

Note 6 -- Repurchase Agreements and Other Borrowings

Securities sold under agreements to repurchase have overnight maturities and a weighted average rate of 2.04%.

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):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

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

 

$

60,723

 

 

$

55,863

 

Mortgage-backed securities (1)

 

 

148,088

 

 

 

140,853

 

Total

 

$

208,811

 

 

$

196,716

 

 

 

 

 

 

 

 

(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.

 

 

FHLB advances represent borrowings by First Mid Bank and Two Rivers Bank to fund loan demand. Advances were $275.2 million and $270.0 million at March 31, 2026 and December 31, 2025, respectively. At March 31, 2026, the advances were as follows:

 

Advance

 

 

Term (in years)

 

Interest Rate

 

Maturity Date

$

19,397

 

 

7.0

 

2.46%

 

May 29, 2026

 

22,149

 

 

10.0

 

1.74%

 

June 5, 2026

 

25,000,000

 

 

3.0

 

4.40%

 

June 15, 2026

 

14,546

 

 

15.0

 

3.87%

 

July 1, 2026

 

14,365

 

 

15.0

 

3.68%

 

July 20, 2026

 

2,400,000

 

 

3.0

 

4.79%

 

September 8, 2026

 

19,538

 

 

15.0

 

2.26%

 

September 9, 2026

 

57,319

 

 

7.0

 

2.11%

 

September 11, 2026

 

66,169

 

 

7.0

 

1.80%

 

October 9, 2026

 

94,344

 

 

7.0

 

1.81%

 

January 29, 2027

 

102,811

 

 

7.0

 

1.52%

 

March 1, 2027

 

25,000,000

 

 

3.0

 

4.37%

 

May 10, 2027

 

25,000,000

 

 

3.0

 

4.32%

 

May 17, 2027

 

22,083

 

 

15.0

 

2.38%

 

August 6, 2027

 

11,070

 

 

15.0

 

2.42%

 

August 9, 2027

 

204,236

 

 

10.0

 

2.72%

 

January 26, 2028

 

25,000,000

 

 

5.0

 

3.95%

 

June 29, 2028

 

261,208

 

 

10.0

 

2.10%

 

June 20, 2029

 

25,000,000

 

 

5.0

 

3.93%

 

June 27, 2029

 

182,238

 

 

10.0

 

2.01%

 

August 2, 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

 

412,756

 

 

10.0

 

1.06%

 

March 6, 2030

 

415,533

 

 

10.0

 

1.29%

 

March 15, 2030

 

25,000,000

 

 

5.0

 

3.16%

 

August 14, 2030

 

358,310

 

 

10.0

 

0.89%

 

November 4, 2030

 

50,000,000

 

 

5.0

 

2.92%

 

November 25, 2030

 

502,036

 

 

10.0

 

0.83%

 

February 14, 2031

 

25,000,000

 

 

10.0

 

2.71%

 

March 5, 2035

$

275,180,108

 

 

 

 

 

 

 
v3.26.1
Disclosures of Fair Values of Financial Instruments
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Disclosures of Fair Values of Financial Instruments

Note 7 -- 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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

Fair Value Measurements Using:

 

 

 

Fair Value

 

 

Quoted Prices in
Active Markets
for Identical
Assets (Level 1)

 

 

Significant
Other
Observable
Inputs (Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

143,579

 

 

$

—

 

 

$

143,579

 

 

$

—

 

Obligations of states and political subdivisions

 

 

275,236

 

 

 

—

 

 

 

275,236

 

 

 

—

 

Mortgage-backed securities

 

 

733,351

 

 

 

—

 

 

 

725,876

 

 

 

7,475

 

Corporate bonded debt

 

 

23,905

 

 

 

—

 

 

 

21,146

 

 

 

2,759

 

Total available-for-sale securities

 

 

1,176,071

 

 

 

—

 

 

 

1,165,837

 

 

 

10,234

 

Equity securities

 

 

4,717

 

 

 

4,717

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

4,909

 

 

 

—

 

 

 

4,909

 

 

 

—

 

Derivative assets: interest rate swaps

 

 

1,721

 

 

 

—

 

 

 

1,721

 

 

 

—

 

Total assets

 

$

1,187,418

 

 

$

4,717

 

 

$

1,172,467

 

 

$

10,234

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities: interest rate swaps

 

$

1,241

 

 

$

—

 

 

$

1,241

 

 

$

—

 

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

 

 

$

—

 

 

The change in fair value of assets measured on a recurring basis using significant unobservable inputs (Level 3) for the years ended three months ended March 31, 2026 and 2025 is summarized as follows (in thousands):

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Beginning balance

 

$

2,759

 

 

$

5,759

 

Purchases

 

 

7,475

 

 

 

—

 

Ending balance

 

$

10,234

 

 

$

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 March 31, 2026 was $21.6 million and a fair value of $19.9 million resulting in specific loss exposures of $1.7 million. As of December 31, 2025, the total carrying amount of loans for which a change in specific allowance occurred was $11.0 million. These loans had a fair value of $10.4 million which resulted in specific loss exposures of $605,000.

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 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 expenses. The total carrying amount of other real estate owned as of March 31, 2026 was $5.5 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 $317,000. 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 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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

Fair Value Measurements Using:

 

 

 

 

 

 

Quoted Prices
in Active
Markets for
Identical Assets

 

 

Significant
Other
Observable
Inputs

 

 

Significant
Unobservable
Inputs

 

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

19,916

 

 

$

—

 

 

$

—

 

 

$

19,916

 

Foreclosed assets held for sale

 

 

317

 

 

 

—

 

 

 

—

 

 

 

317

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

10,389

 

 

$

—

 

 

$

—

 

 

$

10,389

 

Foreclosed assets held for sale

 

 

605

 

 

 

—

 

 

 

—

 

 

 

605

 

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 March 31, 2026 and December 31, 2025.

 

 

 

Fair Value

 

Valuation

 

 

 

Range

 

 

(in thousands)

 

Technique

 

Unobservable Inputs

 

(Weighted Average)

March 31, 2026

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$19,916

 

Third party
valuations

 

Discount to reflect realizable value

 

0%-40%

 

(20%)

Foreclosed assets held for sale

 

317

 

Third party
valuations

 

Discount to reflect realizable value less estimated selling costs

 

0%-40%

 

(35%)

December 31, 2025

 

 

 

 

 

 

 

 

 

 

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 tables present estimated fair values of the Company’s financial instruments at March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

Carrying
Amount

 

 

Fair
Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

476,083

 

 

$

476,083

 

 

$

476,083

 

 

$

—

 

 

$

—

 

Federal funds sold

 

 

949

 

 

 

949

 

 

 

949

 

 

 

—

 

 

 

—

 

Certificates of deposit

 

 

3,060

 

 

 

3,060

 

 

 

—

 

 

 

3,060

 

 

 

—

 

Available-for-sale investment securities

 

 

1,176,071

 

 

 

1,176,071

 

 

 

—

 

 

 

1,165,837

 

 

 

10,234

 

Held-to-maturity investment securities

 

 

2,271

 

 

 

2,271

 

 

 

2,271

 

 

 

—

 

 

 

—

 

Equity investment securities

 

 

4,717

 

 

 

4,717

 

 

 

4,717

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

4,909

 

 

 

4,909

 

 

 

—

 

 

 

4,909

 

 

 

—

 

Loans net of allowance for credit losses

 

 

6,939,367

 

 

 

6,653,493

 

 

 

—

 

 

 

—

 

 

 

6,653,493

 

Interest receivable

 

 

46,753

 

 

 

46,753

 

 

 

—

 

 

 

46,753

 

 

 

—

 

Federal Reserve Bank stock

 

 

19,855

 

 

 

19,855

 

 

 

—

 

 

 

19,855

 

 

 

—

 

Federal Home Loan Bank stock

 

 

12,341

 

 

 

12,341

 

 

 

—

 

 

 

12,341

 

 

 

—

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

7,547,639

 

 

$

7,476,423

 

 

$

—

 

 

$

5,972,507

 

 

$

1,503,916

 

Repurchase agreements with customers

 

 

208,811

 

 

 

208,811

 

 

 

—

 

 

 

208,811

 

 

 

—

 

Interest payable

 

 

6,600

 

 

 

6,600

 

 

 

—

 

 

 

6,600

 

 

 

—

 

Other borrowings

 

 

295,106

 

 

 

294,417

 

 

 

—

 

 

 

294,417

 

 

 

—

 

Subordinated debt, net

 

 

60,072

 

 

 

60,961

 

 

 

—

 

 

 

60,961

 

 

 

—

 

Junior subordinated debt, net

 

 

34,022

 

 

 

32,435

 

 

 

—

 

 

 

32,435

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

1,740

 

 

 

1,740

 

 

 

—

 

 

 

1,740

 

 

 

—

 

Available-for-sale investment securities

 

 

1,076,883

 

 

 

1,076,883

 

 

 

—

 

 

 

1,074,124

 

 

 

2,759

 

Held-to-maturity investment securities

 

 

2,288

 

 

 

2,288

 

 

 

2,288

 

 

 

—

 

 

 

—

 

Equity investment 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

 

Repurchase agreements with customers

 

 

196,716

 

 

 

196,716

 

 

 

—

 

 

 

196,716

 

 

 

—

 

Interest payable

 

 

5,782

 

 

 

5,782

 

 

 

—

 

 

 

5,782

 

 

 

—

 

Other borrowings

 

 

270,000

 

 

 

270,338

 

 

 

—

 

 

 

270,338

 

 

 

—

 

Subordinated debt, net

 

 

60,008

 

 

 

60,800

 

 

 

—

 

 

 

60,800

 

 

 

—

 

Junior subordinated debt, net

 

 

24,454

 

 

 

22,083

 

 

 

—

 

 

 

22,083

 

 

 

—

 
v3.26.1
Business Combinations
 3 Months Ended
Mar. 31, 2026
Business Combination [Abstract]  
Business Combinations

Note 8 -- Business Combinations

On February 28, 2026, the Company completed its acquisition of Two Rivers Financial Group, Inc. (“Two Rivers”) pursuant to an Agreement and Plan of Merger Agreement, dated October 29, 2025 (the “Agreement”). Pursuant to the Agreement, Two Rivers was merged with and into the Company. Two Rivers shareholders received 1.225 shares of the Company's common stock for each share of Two Rivers common stock.

The Company accounted for the Two Rivers 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, time deposits, real property, jr. subordinated debt, a note payable, leases, FHLB borrowings and a customer list intangible 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

 

$

88,972

 

Loans held for sale

 

 

43

 

Loans, net

 

 

860,534

 

Investments-available for sale

 

 

169,780

 

FHLB stock

 

 

989

 

Premises and equipment

 

 

11,743

 

Accrued interest receivable

 

 

4,408

 

Prepaid expenses

 

 

954

 

Other assets

 

 

12,889

 

Core deposit intangible

 

 

21,240

 

Customer list intangible

 

 

5,043

 

Deferred tax asset

 

 

10,191

 

Total assets acquired

 

$

1,186,786

 

 

 

 

Liabilities

 

 

 

Deposits

 

$

1,040,793

 

FHLB advance

 

 

5,308

 

Note payable

 

 

20,004

 

Junior subordinated debt, net

 

 

9,526

 

Accrued interest payable

 

 

829

 

Accrued and other liabilities

 

 

6,165

 

Total liabilities assumed

 

 

1,082,625

 

Net assets acquired

 

$

104,161

 

 

 

 

Total consideration

 

$

104,161

 

Goodwill / bargain purchase

 

$

—

 

The following table presents a summary of consideration transferred:

(In thousands, except shares)

 

 

 

Common stock issued (2,539,831 shares)

 

$

104,159

 

Cash consideration

 

 

2

 

Purchase price

 

$

104,161

 

 

The Company recorded no goodwill or bargain purchase in connection with the acquisition of Two Rivers. The goodwill calculation is provisional for up to one year after the acquisition and could be adjusted in subsequent quarters during 2026 if additional relevant information to the fair values listed above become available. 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 loss rates, 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.

 

Premises and equipment. The fair value of the real estate acquired was determined by using third party real estate appraisers. The appraisals factored in the condition of the property and comparable sales of similar properties in similar markets. The appraisals allocated the value of each property between land and building and the properties were recorded at the appraised value on the balance sheet as of the date of the acquisition.

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.

Customer list intangible. The Company identified wealth management trust customer relationships, in the form of customer list intangible, as an identified intangible asset. Customer list intangibles derive value from the expected future benefits or earnings capacity attributable to the acquired trust customer relationships. The fair value of the customer list intangible was estimated by identifying the expected future benefits of the customer relationships and discounting those benefits back to present value. The customer list intangible will be amortized over its estimated useful life of approximately 11 years using the straight-line method.

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 flow using market rates offered for time deposits of similar remaining maturities.

FHLB borrowings, note payable, and jr. subordinated debt. The FHLB borrowings, note payable, and jr. subordinated debt was fair valued using an income approach. Cash flows were calculated using the instrument’s annualized contractual rate and discounted to present value using market rates for similar types of borrowing arrangements.

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. Non-PCD loans have not experienced a more than insignificant deterioration in credit quality since origination. Under ASU 2025-08, these loans are referred to as purchased seasoned loans and accounted for similarly to the PCD loans. PCD and purchased seasoned 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.

In accordance with ASC 326, Financial Instruments – Credit Losses, immediately following the acquisition the Company established a $10.8 million allowance for credit losses on the $896.2 million of acquired loans.

The following table provides a summary of loans purchased as part of the Two Rivers acquisition as of the acquisition date:

(In thousands)

 

 

 

Unpaid principal balance

 

$

896,204

 

Allowance for credit losses at acquisition

 

 

(10,841

)

Non-credit discount on acquired loans

 

 

(24,786

)

Fair value of loans

 

$

860,577

 

 

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 Two Rivers Merger taken place at the beginning of the period (dollars in thousands, except per share data):

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Net interest income

 

$

77,091

 

 

$

68,234

 

Provision for credit losses

 

 

2,598

 

 

 

1,849

 

Non-interest income

 

 

28,498

 

 

 

27,725

 

Non-interest expense

 

 

69,530

 

 

 

65,067

 

Income before income taxes

 

 

33,461

 

 

 

29,043

 

Income tax expense

 

 

7,718

 

 

 

6,103

 

Net income available to common stockholders

 

$

25,743

 

 

$

22,940

 

Earnings per share

 

 

 

 

 

 

Basic

 

$

0.97

 

 

$

0.87

 

Diluted

 

$

0.97

 

 

$

0.87

 

Basic weighted average shares outstanding

 

 

26,470,468

 

 

 

26,398,648

 

Diluted weighted average shares outstanding

 

 

26,587,023

 

 

 

26,499,059

 

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 Two Rivers acquisition, pre-tax, of $2.1 million during the three months ended March 31, 2026 and no related acquisition costs were incurred during the three months ended March 31, 2025.
v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases

Note 9 -- 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):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

Operating lease right-of-use assets

 

$

13,411

 

 

$

12,674

 

Operating lease liabilities

 

 

13,954

 

 

 

13,210

 

Weighted-average remaining lease term (in years)

 

 

4.3

 

 

4.4

 

Weighted-average discount rate

 

 

3.57

%

 

 

3.54

%

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

 

$

2,799

 

2027

 

 

3,402

 

2028

 

 

2,753

 

2029

 

 

2,271

 

2030

 

 

1,541

 

Thereafter

 

 

2,685

 

Total minimum lease payments

 

 

15,451

 

Less imputed interest

 

 

(1,497

)

Total lease liabilities

 

$

13,954

 

 

The components of lease expense for the three months ended March 31, 2026 and 2025 were as follows (in thousands):

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Operating lease cost

 

$

912

 

 

$

826

 

Short-term lease cost

 

 

37

 

 

 

31

 

Variable lease cost

 

 

173

 

 

 

343

 

Total lease cost

 

 

1,122

 

 

 

1,200

 

Income from subleases

 

 

(77

)

 

 

(80

)

Net lease cost

 

$

1,045

 

 

$

1,120

 

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. In October 2025, 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):

 

 

 

March 31, 2026

 

 

March 31, 2025

 

Operating cash flows from operating leases

 

$

852

 

 

$

822

 
v3.26.1
Derivatives
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives

Note 10 -- 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 March 31, 2026 and December 31, 2025 (in thousands):

Derivative

 

Balance Sheet
Location

 

Weighted Average
Remaining Maturity
(Years)

 

Notional
Amount

 

 

Estimated
Value

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

3.1

 

$

11,901

 

 

$

(1,241

)

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

3.3

 

$

11,974

 

 

$

(1,247

)

The effects of the fair value hedges on the Company's income statement during the three months ended March 31, 2026 and 2025 were as follows (in thousands):

 

 

 

 

 

Three months ended

 

 

 

 

 

March 31,

 

Derivative

 

Location of Gain (Loss) on Derivative

 

2026

 

 

2025

 

Interest rate swap agreements

 

Interest income on loans

 

$

(1

)

 

$

(263

)

 

 

 

 

 

Three months ended

 

 

 

 

 

March 31,

 

Derivative

 

Location of Gain (Loss) on Hedged Items

 

2026

 

 

2025

 

Interest rate swap agreements

 

Interest income on loans

 

$

1

 

 

$

263

 

 

The following amounts were recorded on the balance sheet related to the cumulative basis adjustment for fair value hedges as of March 31, 2026 and December 31, 2025 (in thousands):

 

Line Item in the Balance Sheet in
Which the Hedge Items are Included

 

Carrying Amount of
the Hedged Assets

 

 

Cumulative Amount of Fair Value Hedging
Adjustments Included in the Carrying
Amount of the Hedged Assets

 

March 31, 2026

 

 

 

 

 

 

Loans

 

$

11,421

 

 

$

(480

)

 

 

 

 

 

 

 

December 31, 2025

 

 

 

 

 

 

Loans

 

 

11,493

 

 

 

(481

)

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 the three months ended March 31, 2026 and December 31, 2025 (dollars in thousands):

 

 

 

Balance Sheet
Location

 

Weighted Average
Remaining Maturity
(Years)

 

Notional
Amount

 

 

Estimated
Value

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other assets

 

2.7

 

$

24,238

 

 

$

1,721

 

Interest rate swap agreements

 

Loans

 

2.7

 

 

24,238

 

 

 

(480

)

Interest rate swap agreements

 

Other liabilities

 

2.7

 

 

24,238

 

 

 

1,241

 

 

 

 

 

 

 

 

 

 

 

 

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

 
v3.26.1
Regulatory Capital
 3 Months Ended
Mar. 31, 2026
Regulatory Capital [Abstract]  
Regulatory Capital

Note 11 -- 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”), First Mid Bank follows similar minimum regulatory requirements established for national banks by the Office of the Comptroller of the Currency (“OCC”). Two Rivers Bank follows similar minimum regulatory requirements established for Iowa banks by the Iowa Division of Banking and qualifies to be a community bank and utilize the community bank leverage ratio. 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 regulatory capital standards to ensure capital adequacy require the Company and its subsidiary banks to maintain minimum capital amounts and ratios (set forth in the table below). Management believes that, as of March 31, 2026 and December 31, 2025, the Company and First Mid Bank and Two Rivers Bank met all capital adequacy requirements.

As of December 31, 2025, the most recent notification from the primary regulators categorized First Mid Bank and Two Rivers 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 following table. At March 31, 2026, there were no conditions or events since the most recent notification that management believes has 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

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

1,109,373

 

 

 

15.48

%

 

$

752,330

 

 

> 10.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

918,376

 

 

 

14.48

%

 

 

665,941

 

 

> 10.50%

 

$

634,229

 

 

> 10.00%

Two Rivers Bank

 

 

116,694

 

 

 

13.95

%

 

 

87,862

 

 

> 10.50%

 

 

83,678

 

 

> 10.00%

Tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

972,518

 

 

 

13.57

%

 

 

609,029

 

 

> 8.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

842,769

 

 

 

13.29

%

 

 

539,095

 

 

> 8.50%

 

 

507,384

 

 

> 8.00%

Two Rivers Bank

 

 

115,518

 

 

 

13.81

%

 

 

71,126

 

 

> 8.50%

 

 

66,942

 

 

> 8.00%

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

938,496

 

 

 

13.10

%

 

 

501,553

 

 

> 7.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

842,769

 

 

 

13.29

%

 

 

443,961

 

 

> 7.00%

 

 

412,249

 

 

> 6.50%

Two Rivers Bank

 

 

115,518

 

 

 

13.81

%

 

 

58,574

 

 

> 7.00%

 

 

54,391

 

 

> 6.50%

Tier 1 capital (to average assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

972,518

 

 

 

10.62

%

 

 

366,286

 

 

> 4.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

842,769

 

 

 

10.75

%

 

 

313,474

 

 

> 4.00%

 

 

391,842

 

 

> 5.00%

Two Rivers Bank

 

 

115,518

 

 

 

9.94

%

 

 

46,467

 

 

> 4.00%

 

 

58,084

 

 

> 5.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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%

The Company's risk-weighted assets, capital, and capital ratios for March 31, 2026 were computed in accordance with Basel III capital rules. As of March 31, 2026, the Company, First Mid Bank and Two Rivers Bank had capital ratios above the required minimums for regulatory capital adequacy, and First Mid Bank and Two Rivers Bank had capital ratios that qualified it for treatment as well-capitalized under the regulatory framework for prompt corrective action with respect to banks.
v3.26.1
Commitments and Contingent Liabilities
 3 Months Ended
Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingent Liabilities

Note 12 -- Commitments and Contingent Liabilities

First Mid Bank and Two Rivers Bank enter into financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of their 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 material losses from these instruments and has adequately reserved for these instruments.

The off-balance sheet financial instruments whose contract amounts represent credit risk at March 31, 2026 and December 31, 2025 were as follows (in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

Unused commitments and lines of credit:

 

 

 

 

 

 

Commercial real estate

 

$

226,184

 

 

$

214,028

 

Commercial operating

 

 

774,829

 

 

 

675,087

 

Home equity

 

 

128,947

 

 

 

119,456

 

Other

 

 

357,169

 

 

 

371,322

 

Total

 

$

1,487,129

 

 

$

1,379,893

 

Standby letters of credit

 

$

14,937

 

 

$

17,575

 

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 March 31, 2026. 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.
v3.26.1
Basis of Accounting and Consolidation (Policies)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Accounting and Consolidation

The unaudited condensed 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”), Two Rivers Bank & Trust (“Two Rivers Bank”), First Mid Wealth Management Company (“First Mid Wealth Management”), First Mid Insurance Group, Inc. (“First Mid Insurance”), and First Mid Captive, Inc. (“the Captive”). All significant intercompany balances and transactions have been eliminated in consolidation. The financial information reflects all adjustments which, in the opinion of management, are necessary for a fair presentation of the results of the interim periods ended March 31, 2026 and 2025, and all such adjustments are of a normal recurring nature. Certain amounts in the prior year’s consolidated financial statements may have been reclassified to conform to the March 31, 2026 presentation and there was no impact on net income or stockholders’ equity. The results of the interim period ended March 31, 2026 are not necessarily indicative of the results expected for the year-ending December 31, 2026. The 2025 year-end consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America.

The unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and do not include all the information required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements and related footnote disclosures, although the Company believes that the disclosures made are adequate to make the information not misleading. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2025 Annual Report on Form 10-K.
Acquisitions

Acquisitions

Downs Insurance Agency, Inc. During the quarter ended March 31, 2026, Downs Insurance Agency, Inc. (DIA) customer list was acquired by the Company for a purchase price of $1.4 million and immediately assigned to First Mid Insurance Group.

Two Rivers Financial Group, Inc. 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 “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 would merge with and into Star Sub LLC, whereupon the separate corporate existence of Two Rivers would cease and Star Sub LLC would continue as a surviving company and a wholly-owned subsidiary of the Company (the “Merger”).

Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, each share of common stock of Two Rivers issued and outstanding immediately prior to the effective time of the Merger (other than shares held in treasury by Two Rivers) was converted into and became 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 Merger to Two Rivers shareholders and equity award holders was 2,539,831 shares of the Company common stock valued at $104.2 million and $2,000 of cash-in-lieu of fractional shares.

It is anticipated that Two Rivers Bank will be merged with and into First Mid Bank in June 2026. At which time, Two Rivers Bank offices will become branches of First Mid Bank.

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. (MRIG) was acquired by the Company for a purchase price of $10.1 million and immediately merged into First Mid Insurance Group.

Note 5 and 8 provide further information on the intangibles acquired in the above acquisitions.
Segment Reporting

Segment Reporting

The Company operates as a single segment entity for financial reporting purposes. 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 March 31, 2026, management has reviewed the requirements of generally accepted accounting principles 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 generally accepted accounting principles, and no additional qualitative segment disclosures are necessary.
Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss included in stockholders’ equity as of March 31, 2026 and December 31, 2025 are as follows (in thousands):

 

 

Unrealized Losses on Securities

 

March 31, 2026

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(148,966

)

Tax benefit

 

 

40,258

 

Balance at March 31, 2026

 

$

(108,708

)

 

 

 

December 31, 2025

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(138,930

)

Tax benefit

 

 

37,629

 

Balance at December 31, 2025

 

$

(101,301

)

 

Amounts reclassified from accumulated other comprehensive loss and the affected line items in the statements of income during the three months ended March 31, 2026 and 2025, were as follows (in thousands):

 

Amounts Reclassified from Other Comprehensive Income (Loss)

 

 

 

 

 

Three months ended

 

 

 

 

 

March 31,

 

 

Affected Line Item in the

 

 

2026

 

 

2025

 

 

Statements of Income

Realized gain (loss) on available-for-sale securities, net

 

$

20

 

 

$

(181

)

 

Investment securities gains (losses), net (total reclassified amount before tax)

Income tax benefit (expense)

 

 

(5

)

 

 

50

 

 

 Income taxes

Total reclassifications out of accumulated other comprehensive income (loss)

 

$

15

 

 

$

(131

)

 

Net reclassified amount

 

See “Note 3 – Investment Securities” for more detailed information regarding unrealized losses on available-for-sale securities.
New Accounting Pronouncements

New Accounting Pronouncements

In November 2024, the Financial Accounting Standards Board issued ASU 2024-03 “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” to require additional disclosures within the notes to the financial statements about certain expense items. Specifically, disaggregation of income statement captions that contain expenses within the following five categories is required: (1) purchases of inventory, (2) employee compensation, (3) depreciation, (4) intangible asset amortization, and (5) depreciation, depletion, and amortization (“DD&A”) costs recognized as part of oil- and gas-producing activities or other amounts of depletion expense. Further, this update requires disclosure of the total amount of selling expenses and the Company’s definition of selling expenses. This update provides a practical expedient for banks and bank holding companies to continue presenting salaries and employee benefits in conformity with SEC Rule 210.9-04 instead of requiring those entities to apply the employee compensation definition included in Subtopic 220-40. The amendments in this update may be applied on either a prospective or retrospective basis and will be effective for the Company beginning with the annual reporting period ending December 31, 2027, and interim reporting periods beginning January 1, 2028. The Company does not expect adoption of this ASU to have any impact on its financial position or results of operations because it only results in additional disclosures.

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 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 adopted this standard as of January 1, 2026.
v3.26.1
Basis of Accounting and Consolidation (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Components of Accumulated Other Comprehensive loss

The components of accumulated other comprehensive loss included in stockholders’ equity as of March 31, 2026 and December 31, 2025 are as follows (in thousands):

 

 

Unrealized Losses on Securities

 

March 31, 2026

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(148,966

)

Tax benefit

 

 

40,258

 

Balance at March 31, 2026

 

$

(108,708

)

 

 

 

December 31, 2025

 

 

 

Net unrealized losses on securities available-for-sale

 

$

(138,930

)

Tax benefit

 

 

37,629

 

Balance at December 31, 2025

 

$

(101,301

)
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income

Amounts reclassified from accumulated other comprehensive loss and the affected line items in the statements of income during the three months ended March 31, 2026 and 2025, were as follows (in thousands):

 

Amounts Reclassified from Other Comprehensive Income (Loss)

 

 

 

 

 

Three months ended

 

 

 

 

 

March 31,

 

 

Affected Line Item in the

 

 

2026

 

 

2025

 

 

Statements of Income

Realized gain (loss) on available-for-sale securities, net

 

$

20

 

 

$

(181

)

 

Investment securities gains (losses), net (total reclassified amount before tax)

Income tax benefit (expense)

 

 

(5

)

 

 

50

 

 

 Income taxes

Total reclassifications out of accumulated other comprehensive income (loss)

 

$

15

 

 

$

(131

)

 

Net reclassified amount
v3.26.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
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 three months ended March 31, 2026 and 2025 were as follows:

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Basic net income per common share available to common stockholders:

 

 

 

 

 

 

Net income available to common stockholders

 

$

26,327,000

 

 

$

22,171,000

 

Weighted average common shares outstanding

 

 

24,777,247

 

 

 

23,858,817

 

Basic earnings per common share

 

$

1.06

 

 

$

0.93

 

Diluted net income per common share available to common stockholders:

 

 

 

 

 

 

Net income available to common stockholders

 

$

26,327,000

 

 

$

22,171,000

 

Weighted average common shares outstanding

 

 

24,777,247

 

 

 

23,858,817

 

Dilutive potential common shares:

 

 

 

 

 

 

Restricted stock awarded

 

 

116,555

 

 

 

100,411

 

Diluted weighted average common shares outstanding

 

 

24,893,802

 

 

 

23,959,228

 

Diluted earnings per common share

 

$

1.06

 

 

$

0.93

 

 
v3.26.1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025 were as follows (in thousands):

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
(Losses)

 

 

Fair Value

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

153,813

 

 

$

—

 

 

$

(10,234

)

 

$

143,579

 

Obligations of states and political subdivisions

 

 

327,480

 

 

 

234

 

 

 

(52,478

)

 

 

275,236

 

Mortgage-backed securities (1)

 

 

819,041

 

 

 

1,258

 

 

 

(86,948

)

 

 

733,351

 

Corporate bonded debt

 

 

24,703

 

 

 

—

 

 

 

(798

)

 

 

23,905

 

Total available-for-sale

 

$

1,325,037

 

 

$

1,492

 

 

$

(150,458

)

 

$

1,176,071

 

Held-to-maturity:

 

 

 

 

 

 

 

 

 

 

 

 

Other securities

 

$

2,271

 

 

$

—

 

 

$

—

 

 

$

2,271

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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 three months ended March 31, 2026 and 2025 (in thousands):

 

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Proceeds from sales

 

$

167,803

 

 

$

8,291

 

Gross gains

 

 

20

 

 

 

—

 

Gross losses

 

 

—

 

 

 

(181

)

Income tax benefit (expense)

 

 

(5

)

 

 

49

 

 
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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

Less than 12 months

 

 

12 months or more

 

 

Total

 

 

 

Fair
Value

 

 

Unrealized
Losses

 

 

Fair
Value

 

 

Unrealized
Losses

 

 

Fair
Value

 

 

Unrealized
Losses

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

797

 

 

$

—

 

 

$

142,331

 

 

$

(10,234

)

 

$

143,128

 

 

$

(10,234

)

Obligations of states and political subdivisions

 

 

32,023

 

 

 

(431

)

 

 

225,095

 

 

 

(52,047

)

 

 

257,118

 

 

 

(52,478

)

Mortgage-backed securities (1)

 

 

170,102

 

 

 

(3,042

)

 

 

465,341

 

 

 

(83,906

)

 

 

635,443

 

 

 

(86,948

)

Corporate bonded debt

 

 

3,975

 

 

 

(24

)

 

 

17,180

 

 

 

(774

)

 

 

21,155

 

 

 

(798

)

Total

 

$

206,897

 

 

$

(3,497

)

 

$

849,947

 

 

$

(146,961

)

 

$

1,056,844

 

 

$

(150,458

)

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

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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.

 
v3.26.1
Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Summary of Loans

A summary of loans at March 31, 2026 and December 31, 2025 follows (in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

Construction and land development

 

$

319,945

 

 

$

361,678

 

Agricultural real estate

 

 

405,226

 

 

 

374,143

 

1-4 family residential properties

 

 

746,704

 

 

 

494,258

 

Multifamily residential properties

 

 

457,705

 

 

 

340,324

 

Commercial real estate

 

 

2,972,812

 

 

 

2,582,404

 

Loans secured by real estate

 

 

4,902,392

 

 

 

4,152,807

 

Agricultural loans

 

 

370,124

 

 

 

307,290

 

Commercial and industrial loans

 

 

1,502,384

 

 

 

1,385,421

 

Consumer loans

 

 

39,672

 

 

 

32,109

 

All other loans

 

 

179,008

 

 

 

161,604

 

Total gross loans

 

 

6,993,580

 

 

 

6,039,231

 

Less: loans held for sale

 

 

4,909

 

 

 

5,203

 

Total gross loans held for investment

 

 

6,988,671

 

 

 

6,034,028

 

Less:

 

 

 

 

 

 

Net deferred loan fees, premiums, and discounts

 

 

49,304

 

 

 

27,857

 

Allowance for credit losses

 

 

86,814

 

 

 

74,875

 

Net loans

 

$

6,852,553

 

 

$

5,931,296

 
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 March 31, 2026 (in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

First Mid Bank

 

 

 

 

 

 

Commercial real estate

 

 

 

 

 

 

Owner occupied

 

$

744,435

 

 

$

747,512

 

Non-owner occupied

 

 

 

 

 

 

Shopping centers and malls

 

 

270,895

 

 

 

264,961

 

Industrial and warehouse

 

 

247,069

 

 

 

237,522

 

Hotels and motels

 

 

216,141

 

 

 

218,073

 

Skilled nursing facility

 

 

192,441

 

 

 

187,875

 

Assisted living facility

 

 

168,834

 

 

 

170,733

 

Office

 

 

162,049

 

 

 

160,524

 

Retail

 

 

112,492

 

 

 

112,169

 

RV parks and campgrounds

 

 

99,159

 

 

 

104,267

 

Other property types

 

 

388,656

 

 

 

378,768

 

First Mid Bank total commercial real estate

 

$

2,602,171

 

 

$

2,582,404

 

 

 

 

 

 

 

 

Two Rivers Bank

 

 

 

 

 

 

Commercial real estate

 

 

 

 

 

 

Owner occupied

 

$

97,705

 

 

$

—

 

Non-owner occupied

 

 

272,936

 

 

 

—

 

Two Rivers Bank total commercial real estate

 

$

370,641

 

 

$

—

 

Total commercial real estate

 

$

2,972,812

 

 

$

2,582,404

 
Allowance for Credit Losses Based on Portfolio Segment

The following table presents the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of the three months ended March 31, 2026 (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

 

Three months ended
March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

5,129

 

 

$

1,283

 

 

$

3,753

 

 

$

35,589

 

 

$

1,401

 

 

$

26,285

 

 

$

1,435

 

 

$

74,875

 

Initial allowance on loans acquired

 

 

986

 

 

 

184

 

 

 

2,140

 

 

 

5,360

 

 

 

76

 

 

 

1,904

 

 

 

191

 

 

 

10,841

 

Provision (release) for credit loss expense

 

 

(1,175

)

 

 

(12

)

 

 

(117

)

 

 

1,780

 

 

 

1,176

 

 

 

615

 

 

 

331

 

 

 

2,598

 

Loans charged off

 

 

—

 

 

 

(40

)

 

 

(26

)

 

 

(1,111

)

 

 

—

 

 

 

(291

)

 

 

(498

)

 

 

(1,966

)

Recoveries collected

 

 

—

 

 

 

—

 

 

 

193

 

 

 

1

 

 

 

10

 

 

 

40

 

 

 

222

 

 

 

466

 

Ending balance

 

$

4,940

 

 

$

1,415

 

 

$

5,943

 

 

$

41,619

 

 

$

2,663

 

 

$

28,553

 

 

$

1,681

 

 

$

86,814

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table presents the balance in the allowance for credit losses and the recorded investment in loans based on portfolio segment and impairment method as of the three months ended March 31, 2025 (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

 

Three months ended
March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

3,275

 

 

$

1,361

 

 

$

3,579

 

 

$

32,669

 

 

$

1,957

 

 

$

25,602

 

 

$

1,739

 

 

$

70,182

 

Initial allowance on loans acquired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provision (release) for credit loss expense

 

 

456

 

 

 

(69

)

 

 

(14

)

 

 

(125

)

 

 

809

 

 

 

559

 

 

 

36

 

 

 

1,652

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

(39

)

 

 

(338

)

 

 

(1,117

)

 

 

(223

)

 

 

(366

)

 

 

(2,083

)

Recoveries collected

 

 

—

 

 

 

—

 

 

 

18

 

 

 

8

 

 

 

—

 

 

 

90

 

 

 

184

 

 

 

300

 

 Ending balance

 

$

3,731

 

 

$

1,292

 

 

$

3,544

 

 

$

32,214

 

 

$

1,649

 

 

$

26,028

 

 

$

1,593

 

 

$

70,051

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

Collateral

 

 

Allowance
for Credit
Losses

 

Three months ended March 31, 2026

 

Real Estate

 

 

Business
Assets

 

 

Other

 

 

Total

 

 

 

 

Construction and land development

 

$

8,465

 

 

$

—

 

 

$

—

 

 

$

8,465

 

 

$

620

 

Agricultural real estate

 

 

506

 

 

 

—

 

 

 

—

 

 

 

506

 

 

 

—

 

1-4 family residential properties

 

 

262

 

 

 

—

 

 

 

—

 

 

 

262

 

 

 

16

 

Multifamily residential properties

 

 

358

 

 

 

—

 

 

 

—

 

 

 

358

 

 

 

—

 

Commercial real estate

 

 

27,839

 

 

 

—

 

 

 

—

 

 

 

27,839

 

 

 

163

 

Loans secured by real estate

 

 

37,430

 

 

 

—

 

 

 

—

 

 

 

37,430

 

 

 

799

 

Agricultural loans

 

 

—

 

 

 

—

 

 

 

628

 

 

 

628

 

 

 

628

 

Commercial and industrial loans

 

 

—

 

 

 

7,996

 

 

 

29

 

 

 

8,025

 

 

 

2

 

Other loans

 

 

—

 

 

 

10,854

 

 

 

—

 

 

 

10,854

 

 

 

165

 

Total loans

 

$

37,430

 

 

$

18,850

 

 

$

657

 

 

$

56,937

 

 

$

1,594

 

Twelve months ended December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

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

 

Agricultural loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial and industrial loans

 

 

—

 

 

 

7,123

 

 

 

29

 

 

 

7,152

 

 

 

392

 

Other loans

 

 

—

 

 

 

11,184

 

 

 

—

 

 

 

11,184

 

 

 

84

 

Total loans

 

$

31,290

 

 

$

18,307

 

 

$

29

 

 

$

49,626

 

 

$

489

 
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 March 31, 2026 (in thousands):

 

March 31, 2026

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2026

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

Prior

 

 

Loans

 

 

Total

 

Construction and land development loans

 

Pass

 

$

114,672

 

 

$

115,440

 

 

$

5,549

 

 

$

11,944

 

 

$

32,841

 

 

$

27,000

 

 

$

—

 

 

$

307,446

 

Special mention

 

 

—

 

 

 

—

 

 

 

457

 

 

 

—

 

 

 

342

 

 

 

—

 

 

 

—

 

 

 

799

 

Substandard

 

 

—

 

 

 

—

 

 

 

4,968

 

 

 

5

 

 

 

464

 

 

 

3,041

 

 

 

—

 

 

 

8,478

 

Total

 

$

114,672

 

 

$

115,440

 

 

$

10,974

 

 

$

11,949

 

 

$

33,647

 

 

$

30,041

 

 

$

—

 

 

$

316,723

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 Agricultural real estate loans

 

 Pass

 

$

41,672

 

 

$

28,126

 

 

$

14,734

 

 

$

96,710

 

 

$

142,215

 

 

$

682

 

 

$

—

 

 

$

324,139

 

Special mention

 

 

918

 

 

 

2,361

 

 

 

893

 

 

 

32,019

 

 

 

21,924

 

 

 

4,775

 

 

 

—

 

 

 

62,890

 

Substandard

 

 

1,033

 

 

 

—

 

 

 

—

 

 

 

757

 

 

 

11,301

 

 

 

663

 

 

 

—

 

 

 

13,754

 

 Total

 

$

43,623

 

 

$

30,487

 

 

$

15,627

 

 

$

129,486

 

 

$

175,440

 

 

$

6,120

 

 

$

—

 

 

$

400,783

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

40

 

 

$

—

 

 

$

40

 

 1-4 family residential properties

 

 Pass

 

$

77,345

 

 

$

46,338

 

 

$

49,723

 

 

$

110,835

 

 

$

318,391

 

 

$

15,728

 

 

$

102,440

 

 

$

720,800

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

179

 

 

 

681

 

 

 

—

 

 

 

—

 

 

 

860

 

Substandard

 

 

125

 

 

 

581

 

 

 

574

 

 

 

834

 

 

 

7,976

 

 

 

1,357

 

 

 

946

 

 

 

12,393

 

 Total

 

$

77,470

 

 

$

46,919

 

 

$

50,297

 

 

$

111,848

 

 

$

327,048

 

 

$

17,085

 

 

$

103,386

 

 

$

734,053

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

16

 

 

$

10

 

 

$

—

 

 

$

26

 

 Commercial real estate loans

 

 Pass

 

$

489,277

 

 

$

251,123

 

 

$

309,047

 

 

$

655,550

 

 

$

1,533,869

 

 

$

96,953

 

 

$

—

 

 

$

3,335,819

 

Special mention

 

 

—

 

 

 

418

 

 

 

1,227

 

 

 

12,817

 

 

 

5,204

 

 

 

5,213

 

 

 

—

 

 

 

24,879

 

Substandard

 

 

—

 

 

 

8,668

 

 

 

13,597

 

 

 

5,519

 

 

 

11,683

 

 

 

4,044

 

 

 

—

 

 

 

43,511

 

 Total

 

$

489,277

 

 

$

260,209

 

 

$

323,871

 

 

$

673,886

 

 

$

1,550,756

 

 

$

106,210

 

 

$

—

 

 

$

3,404,209

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

753

 

 

$

358

 

 

$

—

 

 

$

—

 

 

$

1,111

 

 Agricultural loans

 

 Pass

 

$

185,712

 

 

$

37,265

 

 

$

11,289

 

 

$

16,573

 

 

$

21,424

 

 

$

66,582

 

 

$

—

 

 

$

338,845

 

Special mention

 

 

16,584

 

 

 

8,519

 

 

 

236

 

 

 

676

 

 

 

155

 

 

 

54

 

 

 

—

 

 

 

26,224

 

Substandard

 

 

1,732

 

 

 

294

 

 

 

1,403

 

 

 

770

 

 

 

453

 

 

 

1,210

 

 

 

—

 

 

 

5,862

 

 Total

 

$

204,028

 

 

$

46,078

 

 

$

12,928

 

 

$

18,019

 

 

$

22,032

 

 

$

67,846

 

 

$

—

 

 

$

370,931

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 Commercial and industrial loans

 

 Pass

 

$

441,881

 

 

$

217,030

 

 

$

96,263

 

 

$

209,636

 

 

$

532,065

 

 

$

92,451

 

 

$

—

 

 

$

1,589,326

 

Special mention

 

 

18,941

 

 

 

9,905

 

 

 

2,975

 

 

 

9,211

 

 

 

22,675

 

 

 

271

 

 

 

—

 

 

 

63,978

 

Substandard

 

 

—

 

 

 

1,418

 

 

 

2,132

 

 

 

1,312

 

 

 

18,839

 

 

 

975

 

 

 

—

 

 

 

24,676

 

 Total

 

$

460,822

 

 

$

228,353

 

 

$

101,370

 

 

$

220,159

 

 

$

573,579

 

 

$

93,697

 

 

$

—

 

 

$

1,677,980

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

290

 

 

$

—

 

 

$

1

 

 

$

—

 

 

$

291

 

 Consumer loans

 

 Pass

 

$

9,634

 

 

$

4,539

 

 

$

3,847

 

 

$

11,842

 

 

$

6,623

 

 

$

2,641

 

 

$

—

 

 

$

39,126

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18

 

Substandard

 

 

—

 

 

 

25

 

 

 

22

 

 

 

197

 

 

 

196

 

 

 

9

 

 

 

—

 

 

 

449

 

Doubtful

 

 

2

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4

 

 Total

 

$

9,636

 

 

$

4,566

 

 

$

3,869

 

 

$

12,057

 

 

$

6,819

 

 

$

2,650

 

 

$

—

 

 

$

39,597

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

8

 

 

$

6

 

 

$

40

 

 

$

444

 

 

$

—

 

 

$

498

 

 Total loans

 

 Pass

 

$

1,360,193

 

 

$

699,861

 

 

$

490,452

 

 

$

1,113,090

 

 

$

2,587,428

 

 

$

302,037

 

 

$

102,440

 

 

$

6,655,501

 

Special mention

 

 

36,443

 

 

 

21,203

 

 

 

5,788

 

 

 

54,920

 

 

 

50,981

 

 

 

10,313

 

 

 

—

 

 

 

179,648

 

Substandard

 

 

2,890

 

 

 

10,986

 

 

 

22,696

 

 

 

9,394

 

 

 

50,912

 

 

 

11,299

 

 

 

946

 

 

 

109,123

 

Doubtful

 

 

2

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4

 

Total

 

$

1,399,528

 

 

$

732,052

 

 

$

518,936

 

 

$

1,177,404

 

 

$

2,689,321

 

 

$

323,649

 

 

$

103,386

 

 

$

6,944,276

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

8

 

 

$

1,049

 

 

$

414

 

 

$

495

 

 

$

—

 

 

$

1,966

 

 

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 (in thousands):

 

December 31, 2025

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Loans

 

 

Total

 

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 write-offs

 

$

—

 

 

$

—

 

 

$

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 write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 1-4 family residential properties

 

 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 write-offs

 

$

—

 

 

$

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 write-offs

 

$

—

 

 

$

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 write-offs

 

$

—

 

 

$

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 write-offs

 

$

—

 

 

$

—

 

 

$

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 write-offs

 

$

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 write-offs

 

$

5

 

 

$

1,014

 

 

$

1,387

 

 

$

1,551

 

 

$

846

 

 

$

3,070

 

 

$

—

 

 

$

7,873

 

 
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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

90 Days
or More
Past Due

 

 

Total
Past Due

 

 

Current

 

 

Total Loans
Receivable

 

 

Total Loans
> 90 Days and
Accruing

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

—

 

 

$

3,266

 

 

$

3,439

 

 

$

6,705

 

 

$

310,018

 

 

$

316,723

 

 

$

—

 

Agricultural real estate

 

 

162

 

 

 

—

 

 

 

841

 

 

 

1,003

 

 

 

399,780

 

 

 

400,783

 

 

 

—

 

1-4 family residential properties

 

 

5,676

 

 

 

943

 

 

 

1,577

 

 

 

8,196

 

 

 

725,857

 

 

 

734,053

 

 

 

—

 

Multifamily residential properties

 

 

107

 

 

 

—

 

 

 

145

 

 

 

252

 

 

 

455,933

 

 

 

456,185

 

 

 

—

 

Commercial real estate

 

 

4,980

 

 

 

450

 

 

 

3,458

 

 

 

8,888

 

 

 

2,939,136

 

 

 

2,948,024

 

 

 

—

 

Loans secured by real estate

 

 

10,925

 

 

 

4,659

 

 

 

9,460

 

 

 

25,044

 

 

 

4,830,724

 

 

 

4,855,768

 

 

 

—

 

Agricultural loans

 

 

695

 

 

 

17

 

 

 

2,520

 

 

 

3,232

 

 

 

367,699

 

 

 

370,931

 

 

 

—

 

Commercial and industrial loans

 

 

1,238

 

 

 

561

 

 

 

1,814

 

 

 

3,613

 

 

 

1,495,466

 

 

 

1,499,079

 

 

 

—

 

Consumer loans

 

 

285

 

 

 

72

 

 

 

85

 

 

 

442

 

 

 

39,155

 

 

 

39,597

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

178,901

 

 

 

178,901

 

 

 

—

 

Total loans

 

$

13,143

 

 

$

5,309

 

 

$

13,879

 

 

$

32,331

 

 

$

6,911,945

 

 

$

6,944,276

 

 

$

—

 

Percent of total loans

 

 

 

 

 

 

 

 

 

 

 

0.47

%

 

 

 

 

 

 

 

 

 

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

%

 

 

 

 

 

 

 

 

 
Recorded Balance of Loans on Nonaccrual Loans

The following table presents the Company’s recorded balance of nonaccrual loans as of March 31, 2026 and December 31, 2025 (in thousands). This table excludes performing purchased credit deteriorated loans and performing loans modified.

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Nonaccrual
with no
Allowance for

 

 

Total

 

 

Nonaccrual
with no
Allowance for

 

 

Total

 

 

 

Credit Loss

 

 

Nonaccrual

 

 

Credit Loss

 

 

Nonaccrual

 

Construction and land development

 

$

3,796

 

 

$

8,470

 

 

$

5

 

 

$

5

 

Agricultural real estate

 

 

1,562

 

 

 

1,562

 

 

 

1,181

 

 

 

1,181

 

1-4 family residential properties

 

 

6,158

 

 

 

7,680

 

 

 

4,940

 

 

 

5,763

 

Multifamily residential properties

 

 

503

 

 

 

503

 

 

 

371

 

 

 

371

 

Commercial real estate

 

 

8,033

 

 

 

8,347

 

 

 

10,109

 

 

 

10,381

 

Loans secured by real estate

 

 

20,052

 

 

 

26,562

 

 

 

16,606

 

 

 

17,701

 

Agricultural loans

 

 

1,909

 

 

 

2,537

 

 

 

19

 

 

 

19

 

Commercial and industrial loans

 

 

3,028

 

 

 

3,057

 

 

 

1,232

 

 

 

1,967

 

Consumer loans

 

 

181

 

 

 

181

 

 

 

182

 

 

 

182

 

All other loans

 

 

1,823

 

 

 

10,854

 

 

 

1,942

 

 

 

11,184

 

Total loans

 

$

26,993

 

 

$

43,191

 

 

$

19,981

 

 

$

31,053

 
Amortized Cost Basis of Loans Experiencing Financial Difficulty and Modified

The following table shows the amortized cost of loans at March 31, 2026 and 2025 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

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

283

 

 

$

—

 

 

$

—

 

 

 

—

%

1-4 family residential properties

 

 

32

 

 

 

1,061

 

 

 

—

 

 

 

0.02

%

Commercial real estate

 

 

1,262

 

 

 

—

 

 

 

505

 

 

 

0.03

%

Loans secured by real estate

 

 

1,577

 

 

 

1,061

 

 

 

505

 

 

 

0.05

%

Commercial and industrial loans

 

 

418

 

 

 

211

 

 

 

—

 

 

 

0.01

%

Consumer loans

 

 

—

 

 

 

3

 

 

 

—

 

 

 

—

%

Total

 

$

1,995

 

 

$

1,275

 

 

$

505

 

 

 

0.06

%

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

304

 

 

$

—

 

 

$

—

 

 

 

0.01

%

1-4 family residential properties

 

 

42

 

 

 

748

 

 

 

—

 

 

 

0.01

%

Commercial real estate

 

 

822

 

 

 

158

 

 

 

979

 

 

 

0.03

%

Loans secured by real estate

 

 

1,168

 

 

 

906

 

 

 

979

 

 

 

0.05

%

Commercial and industrial loans

 

 

859

 

 

 

87

 

 

 

—

 

 

 

0.02

%

Consumer loans

 

 

2

 

 

 

7

 

 

 

—

 

 

 

—

%

Total

 

$

2,029

 

 

$

1,000

 

 

$

979

 

 

 

0.07

%

 
Performance of loans modified

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 March 31, 2026 and 2025.

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

90 Days
or More
Past Due

 

 

Total Past
Due

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate

 

 

174

 

 

 

—

 

 

 

—

 

 

 

174

 
Financial Effect of Loan Modifications

The following table shows the financial effect of loan modifications during the quarter ended March 31, 2026 and 2025 to borrowers experiencing financial difficulty.

 

 

Weighted Average

 

 

Weighted Average

 

 

 

Interest Rate

 

 

Term Extension

 

 

 

Reduction

 

 

(in months)

 

March 31, 2026

 

 

 

 

 

 

Commercial real estate

 

 

—

%

 

 

—

 

Commercial and industrial loans

 

 

—

%

 

 

12

 

March 31, 2025

 

 

 

 

 

 

Commercial real estate

 

 

1.00

%

 

 

—

 

Commercial and industrial loans

 

 

—

%

 

 

—

 
v3.26.1
Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2026
Schedule of Intangible Assets and Goodwill The following table presents gross carrying amount and accumulated amortization by major intangible asset class as of March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

Gross Carrying
Value

 

 

Accumulated
Amortization

 

 

Gross Carrying
Value

 

 

Accumulated
Amortization

 

Goodwill

 

$

207,151

 

 

$

3,760

 

 

$

207,151

 

 

$

3,760

 

Core deposit intangibles

 

 

101,185

 

 

 

55,547

 

 

 

79,945

 

 

 

53,285

 

Customer list intangibles

 

 

40,814

 

 

 

16,805

 

 

 

34,420

 

 

 

16,021

 

Total

 

$

349,150

 

 

$

76,112

 

 

$

321,516

 

 

$

73,066

 
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 Two Rivers and the lack of goodwill recorded (in thousands):

Unallocated purchase price

 

 

 

$

(14,671

)

Purchase accounting adjustments:

 

 

 

 

 

Decrease in fair value of securities

$

6,074

 

 

 

 

Decrease in fair value of loans, net

 

17,145

 

 

 

 

Decrease in fair value of premises and equipment

 

1,552

 

 

 

 

Decrease on time deposits

 

(131

)

 

 

 

Decrease in fair value of junior subordinated debt and other borrowings

 

(253

)

 

 

 

Increase in core deposit intangible

 

(17,056

)

 

 

 

Customer list intangible

 

(5,043

)

 

 

 

Recapture of existing goodwill

 

20,657

 

 

 

 

Other assets

 

(8,274

)

 

 

 

Total purchase accounting adjustments

 

 

 

 

14,671

 

Resulting goodwill from acquisition

 

 

 

$

—

 
Intangible Assets Mortgage Servicing Rights The following table summarizes the activity pertaining to the mortgage servicing rights included in intangible assets as of three months ended March 31, 2026 and 2025 (in thousands):

 

 

March 31, 2026

 

 

March 31, 2025

 

Beginning balance

 

$

4,566

 

 

$

5,629

 

Adjustment to valuation reserve

 

 

—

 

 

 

1

 

Mortgage servicing rights amortized

 

 

(255

)

 

 

(287

)

Interest only strip

 

 

(2

)

 

 

(5

)

Ending balance

 

$

4,309

 

 

$

5,338

 

Fair value of portfolio

 

$

5,430

 

 

$

6,500

 

 
Schedule of Intangible Assets Amortization Expense

Total amortization expense for three months ended March 31, 2026 and 2025 was as follows (in thousands):

 

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Core deposit intangibles

 

$

2,262

 

 

$

2,263

 

Customer list intangibles

 

 

784

 

 

 

681

 

Mortgage servicing rights

 

 

255

 

 

 

287

 

Total

 

$

3,301

 

 

$

3,231

 
Schedule of Expected Amortization Expense

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

 

Aggregate amortization expense:

 

 

 

For period 01/01/26-03/31/26

 

$

3,301

 

Estimated amortization expense:

 

 

 

For period 04/01/26-12/31/26

 

 

11,509

 

For year-ended 12/31/27

 

 

13,911

 

For year-ended 12/31/28

 

 

12,276

 

For year-ended 12/31/29

 

 

10,502

 

For year-ended 12/31/30

 

 

8,117

 
MRIG  
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

)

 

 

 

Total purchase accounting adjustments

 

 

 

 

3,129

 

Resulting goodwill from acquisition

 

 

 

$

6,930

 
v3.26.1
Repurchase Agreements and Other Borrowings (Tables)
 3 Months Ended
Mar. 31, 2026
Repurchase Agreements And Other Borrowings [Abstract]  
Schedule of Securities Financing Transactions

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

 

 

 

March 31, 2026

 

 

December 31, 2025

 

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

 

$

60,723

 

 

$

55,863

 

Mortgage-backed securities (1)

 

 

148,088

 

 

 

140,853

 

Total

 

$

208,811

 

 

$

196,716

 

 

 

 

 

 

 

 

(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.

 

 
Federal Home Loan Bank, Advances

FHLB advances represent borrowings by First Mid Bank and Two Rivers Bank to fund loan demand. Advances were $275.2 million and $270.0 million at March 31, 2026 and December 31, 2025, respectively. At March 31, 2026, the advances were as follows:

 

Advance

 

 

Term (in years)

 

Interest Rate

 

Maturity Date

$

19,397

 

 

7.0

 

2.46%

 

May 29, 2026

 

22,149

 

 

10.0

 

1.74%

 

June 5, 2026

 

25,000,000

 

 

3.0

 

4.40%

 

June 15, 2026

 

14,546

 

 

15.0

 

3.87%

 

July 1, 2026

 

14,365

 

 

15.0

 

3.68%

 

July 20, 2026

 

2,400,000

 

 

3.0

 

4.79%

 

September 8, 2026

 

19,538

 

 

15.0

 

2.26%

 

September 9, 2026

 

57,319

 

 

7.0

 

2.11%

 

September 11, 2026

 

66,169

 

 

7.0

 

1.80%

 

October 9, 2026

 

94,344

 

 

7.0

 

1.81%

 

January 29, 2027

 

102,811

 

 

7.0

 

1.52%

 

March 1, 2027

 

25,000,000

 

 

3.0

 

4.37%

 

May 10, 2027

 

25,000,000

 

 

3.0

 

4.32%

 

May 17, 2027

 

22,083

 

 

15.0

 

2.38%

 

August 6, 2027

 

11,070

 

 

15.0

 

2.42%

 

August 9, 2027

 

204,236

 

 

10.0

 

2.72%

 

January 26, 2028

 

25,000,000

 

 

5.0

 

3.95%

 

June 29, 2028

 

261,208

 

 

10.0

 

2.10%

 

June 20, 2029

 

25,000,000

 

 

5.0

 

3.93%

 

June 27, 2029

 

182,238

 

 

10.0

 

2.01%

 

August 2, 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

 

412,756

 

 

10.0

 

1.06%

 

March 6, 2030

 

415,533

 

 

10.0

 

1.29%

 

March 15, 2030

 

25,000,000

 

 

5.0

 

3.16%

 

August 14, 2030

 

358,310

 

 

10.0

 

0.89%

 

November 4, 2030

 

50,000,000

 

 

5.0

 

2.92%

 

November 25, 2030

 

502,036

 

 

10.0

 

0.83%

 

February 14, 2031

 

25,000,000

 

 

10.0

 

2.71%

 

March 5, 2035

$

275,180,108

 

 

 

 

 

 

 
v3.26.1
Disclosures of Fair Values of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Assets 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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

Fair Value Measurements Using:

 

 

 

Fair Value

 

 

Quoted Prices in
Active Markets
for Identical
Assets (Level 1)

 

 

Significant
Other
Observable
Inputs (Level 2)

 

 

Significant
Unobservable
Inputs
(Level 3)

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Available-for-sale securities:

 

 

 

 

 

 

 

 

 

 

 

 

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

 

$

143,579

 

 

$

—

 

 

$

143,579

 

 

$

—

 

Obligations of states and political subdivisions

 

 

275,236

 

 

 

—

 

 

 

275,236

 

 

 

—

 

Mortgage-backed securities

 

 

733,351

 

 

 

—

 

 

 

725,876

 

 

 

7,475

 

Corporate bonded debt

 

 

23,905

 

 

 

—

 

 

 

21,146

 

 

 

2,759

 

Total available-for-sale securities

 

 

1,176,071

 

 

 

—

 

 

 

1,165,837

 

 

 

10,234

 

Equity securities

 

 

4,717

 

 

 

4,717

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

4,909

 

 

 

—

 

 

 

4,909

 

 

 

—

 

Derivative assets: interest rate swaps

 

 

1,721

 

 

 

—

 

 

 

1,721

 

 

 

—

 

Total assets

 

$

1,187,418

 

 

$

4,717

 

 

$

1,172,467

 

 

$

10,234

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities: interest rate swaps

 

$

1,241

 

 

$

—

 

 

$

1,241

 

 

$

—

 

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

 

 

$

—

 

 
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 three months ended March 31, 2026 and 2025 is summarized as follows (in thousands):

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Beginning balance

 

$

2,759

 

 

$

5,759

 

Purchases

 

 

7,475

 

 

 

—

 

Ending balance

 

$

10,234

 

 

$

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 March 31, 2026 and December 31, 2025 (in thousands):

 

 

Fair Value Measurements Using:

 

 

 

 

 

 

Quoted Prices
in Active
Markets for
Identical Assets

 

 

Significant
Other
Observable
Inputs

 

 

Significant
Unobservable
Inputs

 

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

19,916

 

 

$

—

 

 

$

—

 

 

$

19,916

 

Foreclosed assets held for sale

 

 

317

 

 

 

—

 

 

 

—

 

 

 

317

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$

10,389

 

 

$

—

 

 

$

—

 

 

$

10,389

 

Foreclosed assets held for sale

 

 

605

 

 

 

—

 

 

 

—

 

 

 

605

 
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 March 31, 2026 and December 31, 2025.

 

 

 

Fair Value

 

Valuation

 

 

 

Range

 

 

(in thousands)

 

Technique

 

Unobservable Inputs

 

(Weighted Average)

March 31, 2026

 

 

 

 

 

 

 

 

 

 

Collateral dependent loans

 

$19,916

 

Third party
valuations

 

Discount to reflect realizable value

 

0%-40%

 

(20%)

Foreclosed assets held for sale

 

317

 

Third party
valuations

 

Discount to reflect realizable value less estimated selling costs

 

0%-40%

 

(35%)

December 31, 2025

 

 

 

 

 

 

 

 

 

 

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%)

 
Summary of Estimated Fair Values of Company Financial Instruments

The following tables present estimated fair values of the Company’s financial instruments at March 31, 2026 and December 31, 2025 (in thousands):

 

 

 

Carrying
Amount

 

 

Fair
Value

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

476,083

 

 

$

476,083

 

 

$

476,083

 

 

$

—

 

 

$

—

 

Federal funds sold

 

 

949

 

 

 

949

 

 

 

949

 

 

 

—

 

 

 

—

 

Certificates of deposit

 

 

3,060

 

 

 

3,060

 

 

 

—

 

 

 

3,060

 

 

 

—

 

Available-for-sale investment securities

 

 

1,176,071

 

 

 

1,176,071

 

 

 

—

 

 

 

1,165,837

 

 

 

10,234

 

Held-to-maturity investment securities

 

 

2,271

 

 

 

2,271

 

 

 

2,271

 

 

 

—

 

 

 

—

 

Equity investment securities

 

 

4,717

 

 

 

4,717

 

 

 

4,717

 

 

 

—

 

 

 

—

 

Loans held for sale

 

 

4,909

 

 

 

4,909

 

 

 

—

 

 

 

4,909

 

 

 

—

 

Loans net of allowance for credit losses

 

 

6,939,367

 

 

 

6,653,493

 

 

 

—

 

 

 

—

 

 

 

6,653,493

 

Interest receivable

 

 

46,753

 

 

 

46,753

 

 

 

—

 

 

 

46,753

 

 

 

—

 

Federal Reserve Bank stock

 

 

19,855

 

 

 

19,855

 

 

 

—

 

 

 

19,855

 

 

 

—

 

Federal Home Loan Bank stock

 

 

12,341

 

 

 

12,341

 

 

 

—

 

 

 

12,341

 

 

 

—

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

$

7,547,639

 

 

$

7,476,423

 

 

$

—

 

 

$

5,972,507

 

 

$

1,503,916

 

Repurchase agreements with customers

 

 

208,811

 

 

 

208,811

 

 

 

—

 

 

 

208,811

 

 

 

—

 

Interest payable

 

 

6,600

 

 

 

6,600

 

 

 

—

 

 

 

6,600

 

 

 

—

 

Other borrowings

 

 

295,106

 

 

 

294,417

 

 

 

—

 

 

 

294,417

 

 

 

—

 

Subordinated debt, net

 

 

60,072

 

 

 

60,961

 

 

 

—

 

 

 

60,961

 

 

 

—

 

Junior subordinated debt, net

 

 

34,022

 

 

 

32,435

 

 

 

—

 

 

 

32,435

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

1,740

 

 

 

1,740

 

 

 

—

 

 

 

1,740

 

 

 

—

 

Available-for-sale investment securities

 

 

1,076,883

 

 

 

1,076,883

 

 

 

—

 

 

 

1,074,124

 

 

 

2,759

 

Held-to-maturity investment securities

 

 

2,288

 

 

 

2,288

 

 

 

2,288

 

 

 

—

 

 

 

—

 

Equity investment 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

 

Repurchase agreements with customers

 

 

196,716

 

 

 

196,716

 

 

 

—

 

 

 

196,716

 

 

 

—

 

Interest payable

 

 

5,782

 

 

 

5,782

 

 

 

—

 

 

 

5,782

 

 

 

—

 

Other borrowings

 

 

270,000

 

 

 

270,338

 

 

 

—

 

 

 

270,338

 

 

 

—

 

Subordinated debt, net

 

 

60,008

 

 

 

60,800

 

 

 

—

 

 

 

60,800

 

 

 

—

 

Junior subordinated debt, net

 

 

24,454

 

 

 

22,083

 

 

 

—

 

 

 

22,083

 

 

 

—

 
v3.26.1
Business Combinations (Tables) - Two Rivers Financial Group, Inc
 3 Months Ended
Mar. 31, 2026
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

 

$

88,972

 

Loans held for sale

 

 

43

 

Loans, net

 

 

860,534

 

Investments-available for sale

 

 

169,780

 

FHLB stock

 

 

989

 

Premises and equipment

 

 

11,743

 

Accrued interest receivable

 

 

4,408

 

Prepaid expenses

 

 

954

 

Other assets

 

 

12,889

 

Core deposit intangible

 

 

21,240

 

Customer list intangible

 

 

5,043

 

Deferred tax asset

 

 

10,191

 

Total assets acquired

 

$

1,186,786

 

 

 

 

Liabilities

 

 

 

Deposits

 

$

1,040,793

 

FHLB advance

 

 

5,308

 

Note payable

 

 

20,004

 

Junior subordinated debt, net

 

 

9,526

 

Accrued interest payable

 

 

829

 

Accrued and other liabilities

 

 

6,165

 

Total liabilities assumed

 

 

1,082,625

 

Net assets acquired

 

$

104,161

 

 

 

 

Total consideration

 

$

104,161

 

Goodwill / bargain purchase

 

$

—

 
Summary of Consideration Transferred

The following table presents a summary of consideration transferred:

(In thousands, except shares)

 

 

 

Common stock issued (2,539,831 shares)

 

$

104,159

 

Cash consideration

 

 

2

 

Purchase price

 

$

104,161

 
Summary of Loans Purchased

The following table provides a summary of loans purchased as part of the Two Rivers acquisition as of the acquisition date:

(In thousands)

 

 

 

Unpaid principal balance

 

$

896,204

 

Allowance for credit losses at acquisition

 

 

(10,841

)

Non-credit discount on acquired loans

 

 

(24,786

)

Fair value of loans

 

$

860,577

 

 
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 Two Rivers Merger taken place at the beginning of the period (dollars in thousands, except per share data):

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Net interest income

 

$

77,091

 

 

$

68,234

 

Provision for credit losses

 

 

2,598

 

 

 

1,849

 

Non-interest income

 

 

28,498

 

 

 

27,725

 

Non-interest expense

 

 

69,530

 

 

 

65,067

 

Income before income taxes

 

 

33,461

 

 

 

29,043

 

Income tax expense

 

 

7,718

 

 

 

6,103

 

Net income available to common stockholders

 

$

25,743

 

 

$

22,940

 

Earnings per share

 

 

 

 

 

 

Basic

 

$

0.97

 

 

$

0.87

 

Diluted

 

$

0.97

 

 

$

0.87

 

Basic weighted average shares outstanding

 

 

26,470,468

 

 

 

26,398,648

 

Diluted weighted average shares outstanding

 

 

26,587,023

 

 

 

26,499,059

 
v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Summary of Supplemental Balance Sheet Information

 

 

 

March 31, 2026

 

 

December 31, 2025

 

Operating lease right-of-use assets

 

$

13,411

 

 

$

12,674

 

Operating lease liabilities

 

 

13,954

 

 

 

13,210

 

Weighted-average remaining lease term (in years)

 

 

4.3

 

 

4.4

 

Weighted-average discount rate

 

 

3.57

%

 

 

3.54

%

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):
Summary of Maturities of Lease Liabilities

 

 

Operating Leases

 

2026

 

$

2,799

 

2027

 

 

3,402

 

2028

 

 

2,753

 

2029

 

 

2,271

 

2030

 

 

1,541

 

Thereafter

 

 

2,685

 

Total minimum lease payments

 

 

15,451

 

Less imputed interest

 

 

(1,497

)

Total lease liabilities

 

$

13,954

 

 
Summary of Components of Lease Expense

The components of lease expense for the three months ended March 31, 2026 and 2025 were as follows (in thousands):

 

 

Three months ended

 

 

 

March 31,

 

 

 

2026

 

 

2025

 

Operating lease cost

 

$

912

 

 

$

826

 

Short-term lease cost

 

 

37

 

 

 

31

 

Variable lease cost

 

 

173

 

 

 

343

 

Total lease cost

 

 

1,122

 

 

 

1,200

 

Income from subleases

 

 

(77

)

 

 

(80

)

Net lease cost

 

$

1,045

 

 

$

1,120

 

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. In October 2025, 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):
Summary of Operating Lease Cash Flows

 

 

March 31, 2026

 

 

March 31, 2025

 

Operating cash flows from operating leases

 

$

852

 

 

$

822

 
v3.26.1
Derivatives (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative [Line Items]  
Summary of Derivative Instruments, Gain (Loss)

The effects of the fair value hedges on the Company's income statement during the three months ended March 31, 2026 and 2025 were as follows (in thousands):

 

 

 

 

 

Three months ended

 

 

 

 

 

March 31,

 

Derivative

 

Location of Gain (Loss) on Derivative

 

2026

 

 

2025

 

Interest rate swap agreements

 

Interest income on loans

 

$

(1

)

 

$

(263

)

 

 

 

 

 

Three months ended

 

 

 

 

 

March 31,

 

Derivative

 

Location of Gain (Loss) on Hedged Items

 

2026

 

 

2025

 

Interest rate swap agreements

 

Interest income on loans

 

$

1

 

 

$

263

 

 

T
Summary of Cumulative Basis Adjustment of Fair Value Hedges he following amounts were recorded on the balance sheet related to the cumulative basis adjustment for fair value hedges as of March 31, 2026 and December 31, 2025 (in thousands):

 

Line Item in the Balance Sheet in
Which the Hedge Items are Included

 

Carrying Amount of
the Hedged Assets

 

 

Cumulative Amount of Fair Value Hedging
Adjustments Included in the Carrying
Amount of the Hedged Assets

 

March 31, 2026

 

 

 

 

 

 

Loans

 

$

11,421

 

 

$

(480

)

 

 

 

 

 

 

 

December 31, 2025

 

 

 

 

 

 

Loans

 

 

11,493

 

 

 

(481

)
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 the three months ended March 31, 2026 and December 31, 2025 (dollars in thousands):

 

 

 

Balance Sheet
Location

 

Weighted Average
Remaining Maturity
(Years)

 

Notional
Amount

 

 

Estimated
Value

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other assets

 

2.7

 

$

24,238

 

 

$

1,721

 

Interest rate swap agreements

 

Loans

 

2.7

 

 

24,238

 

 

 

(480

)

Interest rate swap agreements

 

Other liabilities

 

2.7

 

 

24,238

 

 

 

1,241

 

 

 

 

 

 

 

 

 

 

 

 

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

 
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 March 31, 2026 and December 31, 2025 (in thousands):

Derivative

 

Balance Sheet
Location

 

Weighted Average
Remaining Maturity
(Years)

 

Notional
Amount

 

 

Estimated
Value

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

3.1

 

$

11,901

 

 

$

(1,241

)

 

 

 

 

 

 

 

 

 

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

3.3

 

$

11,974

 

 

$

(1,247

)
v3.26.1
Regulatory Capital (Tables)
 3 Months Ended
Mar. 31, 2026
Regulatory Capital [Abstract]  
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations

As of December 31, 2025, the most recent notification from the primary regulators categorized First Mid Bank and Two Rivers 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 following table. At March 31, 2026, there were no conditions or events since the most recent notification that management believes has 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

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

$

1,109,373

 

 

 

15.48

%

 

$

752,330

 

 

> 10.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

918,376

 

 

 

14.48

%

 

 

665,941

 

 

> 10.50%

 

$

634,229

 

 

> 10.00%

Two Rivers Bank

 

 

116,694

 

 

 

13.95

%

 

 

87,862

 

 

> 10.50%

 

 

83,678

 

 

> 10.00%

Tier 1 capital (to risk-weighted assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

972,518

 

 

 

13.57

%

 

 

609,029

 

 

> 8.50%

 

N/A

 

 

N/A

First Mid Bank

 

 

842,769

 

 

 

13.29

%

 

 

539,095

 

 

> 8.50%

 

 

507,384

 

 

> 8.00%

Two Rivers Bank

 

 

115,518

 

 

 

13.81

%

 

 

71,126

 

 

> 8.50%

 

 

66,942

 

 

> 8.00%

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

938,496

 

 

 

13.10

%

 

 

501,553

 

 

> 7.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

842,769

 

 

 

13.29

%

 

 

443,961

 

 

> 7.00%

 

 

412,249

 

 

> 6.50%

Two Rivers Bank

 

 

115,518

 

 

 

13.81

%

 

 

58,574

 

 

> 7.00%

 

 

54,391

 

 

> 6.50%

Tier 1 capital (to average assets)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company

 

 

972,518

 

 

 

10.62

%

 

 

366,286

 

 

> 4.00%

 

N/A

 

 

N/A

First Mid Bank

 

 

842,769

 

 

 

10.75

%

 

 

313,474

 

 

> 4.00%

 

 

391,842

 

 

> 5.00%

Two Rivers Bank

 

 

115,518

 

 

 

9.94

%

 

 

46,467

 

 

> 4.00%

 

 

58,084

 

 

> 5.00%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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%
v3.26.1
Commitments and Contingent Liabilities (Tables)
 3 Months Ended
Mar. 31, 2026
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 March 31, 2026 and December 31, 2025 were as follows (in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

Unused commitments and lines of credit:

 

 

 

 

 

 

Commercial real estate

 

$

226,184

 

 

$

214,028

 

Commercial operating

 

 

774,829

 

 

 

675,087

 

Home equity

 

 

128,947

 

 

 

119,456

 

Other

 

 

357,169

 

 

 

371,322

 

Total

 

$

1,487,129

 

 

$

1,379,893

 

Standby letters of credit

 

$

14,937

 

 

$

17,575

 
v3.26.1
Basis of Accounting and Consolidation - Additional Information (Details)
 3 Months Ended
Oct. 29, 2025
USD ($)
shares
Mar. 31, 2026
USD ($)
Segment
Dec. 31, 2025
USD ($)
Sep. 30, 2025
USD ($)
Sep. 30, 2024
USD ($)
Summary Of Significant Accounting Policies [Line Items]          
Number of operating segment | Segment   1      
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]   true      
Change in Accounting Principle, Accounting Standards Update, Adoption Date   Jan. 01, 2026      
Accounting Standards Update [Extensible Enumeration]   Accounting Standards Update Two Thousand Twenty Five Zero Eight [Member]      
Downs Insurance Agency, Inc.          
Summary Of Significant Accounting Policies [Line Items]          
Purchase price   $ 1,400,000      
Two Rivers Financial Group, Inc          
Summary Of Significant Accounting Policies [Line Items]          
Purchase price $ 104,161,000        
Percentage of issued and outstanding shares acquired 100.00%        
Conversion of common stock | shares 1.225        
Consideration payable in shares | shares 2,539,831        
Common stock consideration value $ 104,159,000        
Consideration payable in cash $ 2,000        
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  
Mid Rivers Insurance Group, Inc.          
Summary Of Significant Accounting Policies [Line Items]          
Purchase price         $ 10,100,000
v3.26.1
Basis of Accounting and Consolidation - Schedule of Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Balance $ 1,076,626 $ 958,692 $ 870,949 $ 846,391
Accumulated Other Comprehensive Loss        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Net unrealized losses on securities available-for-sale (148,966) (138,930)    
Tax benefit 40,258 37,629    
Balance $ (108,708) $ (101,301) $ (135,350) $ (142,383)
v3.26.1
Basis of Accounting and Consolidation - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Income tax benefit (expense) $ 5 $ (50)
Total reclassifications out of accumulated other comprehensive income (loss) 15 (131)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Realized gain (loss) on available-for-sale securities, net 20 (181)
Income tax benefit (expense) (5) 50
Total reclassifications out of accumulated other comprehensive income (loss) $ 15 $ (131)
v3.26.1
Earnings Per Share - Components of Basic and Diluted Net Income Per Common Share (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Basic net income per common share available to common stockholders:    
Net income available to common stockholders $ 26,327,000 $ 22,171,000
Weighted average common shares outstanding 24,777,247 23,858,817
Basic earnings per common share $ 1.06 $ 0.93
Diluted net income per common share available to common stockholders:    
Net income available to common stockholders $ 26,327,000 $ 22,171,000
Weighted average common shares outstanding 24,777,247 23,858,817
Dilutive potential common shares:    
Restricted stock awarded 116,555 100,411
Diluted weighted average common shares outstanding 24,893,802 23,959,228
Diluted earnings per common share $ 1.06 $ 0.93
v3.26.1
Earnings Per Share - Additional Information (Details) - shares
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Earnings Per Share [Abstract]    
Number of anti-dilutive shares excluded when computing diluted earnings per share 0 0
v3.26.1
Investment Securities - Available for Sale and Held for Maturity Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Available-for-sale: [Abstract]    
Amortized Cost $ 1,325,037 $ 1,215,813
Gross Unrealized Gains 1,492 2,802
Gross Unrealized (Losses) (150,458) (141,732)
Fair Value 1,176,071 1,076,883
Held-to-maturity: [Abstract]    
Held-to-maturity 2,271 2,288
Fair Value 2,271 2,288
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale: [Abstract]    
Amortized Cost 153,813 153,859
Gross Unrealized Gains 0 3
Gross Unrealized (Losses) (10,234) (9,782)
Fair Value 143,579 144,080
Obligations of States and Political Subdivisions    
Available-for-sale: [Abstract]    
Amortized Cost 327,480 327,950
Gross Unrealized Gains 234 341
Gross Unrealized (Losses) (52,478) (47,658)
Fair Value 275,236 280,633
Mortgage-backed Securities    
Available-for-sale: [Abstract]    
Amortized Cost 819,041 705,728
Gross Unrealized Gains 1,258 2,458
Gross Unrealized (Losses) (86,948) (83,520)
Fair Value 733,351 624,666
Corporate bonded debt    
Available-for-sale: [Abstract]    
Amortized Cost 24,703 28,276
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) (798) (772)
Fair Value 23,905 27,504
Other Securities    
Held-to-maturity: [Abstract]    
Held-to-maturity 2,271 2,288
Gross Unrealized Gains 0 0
Gross Unrealized (Losses) 0 0
Fair Value $ 2,271 $ 2,288
v3.26.1
Investment Securities - Additional Information (Details)
Mar. 31, 2026
USD ($)
Security
Dec. 31, 2025
USD ($)
Security
Schedule Of Available For Sale Securities [Line Items]    
Equity securities, at fair value $ 4,717,000 $ 4,588,000
Number of securities in unrealized loss positions | Security 463 488
Available-for-sale, 12 months or longer, Fair Value $ 849,947,000 $ 888,695,000
12 months or longer, unrealized losses 146,961,000 141,589,000
Held to maturity securities, 12 months or longer, unrealized losses $ 0 $ 0
v3.26.1
Investment Securities - Proceeds From Sales of Available for Sale Investment Securities, Realized Gains and Losses and Income Tax Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Realized Investment Gains (Losses) [Abstract]    
Proceeds from sales $ 167,803 $ 8,291
Gross gains 20 0
Gross losses 0 (181)
Income tax benefit (expense) $ (5) $ 49
v3.26.1
Investment Securities - Fair Value of Investments with Sustained Gross Unrealized Losses (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]    
Available-for-sale, Less than 12 months, Fair Value $ 206,897 $ 21,217
Available-for-sale, Less than 12 months, Unrealized Losses (3,497) (143)
Available-for-sale, 12 months or longer, Fair Value 849,947 888,695
Available-for-sale, 12 months or longer, Unrealized losses (146,961) (141,589)
Available-for-sale, Total Fair Value 1,056,844 909,912
Available-for-sale, Total Unrealized Losses (150,458) (141,732)
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 797 0
Available-for-sale, Less than 12 months, Unrealized Losses 0 0
Available-for-sale, 12 months or longer, Fair Value 142,331 142,833
Available-for-sale, 12 months or longer, Unrealized losses (10,234) (9,782)
Available-for-sale, Total Fair Value 143,128 142,833
Available-for-sale, Total Unrealized Losses (10,234) (9,782)
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 32,023 5,923
Available-for-sale, Less than 12 months, Unrealized Losses (431) (8)
Available-for-sale, 12 months or longer, Fair Value 225,095 246,076
Available-for-sale, 12 months or longer, Unrealized losses (52,047) (47,650)
Available-for-sale, Total Fair Value 257,118 251,999
Available-for-sale, Total Unrealized Losses (52,478) (47,658)
Mortgage-backed Securities    
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]    
Available-for-sale, Less than 12 months, Fair Value 170,102 11,327
Available-for-sale, Less than 12 months, Unrealized Losses (3,042) (102)
Available-for-sale, 12 months or longer, Fair Value 465,341 480,583
Available-for-sale, 12 months or longer, Unrealized losses (83,906) (83,418)
Available-for-sale, Total Fair Value 635,443 491,910
Available-for-sale, Total Unrealized Losses (86,948) (83,520)
Corporate bonded debt    
Available-for-sale Securities, Continuous Unrealized Loss Position, Qualitative Disclosure [Abstract]    
Available-for-sale, Less than 12 months, Fair Value 3,975 3,967
Available-for-sale, Less than 12 months, Unrealized Losses (24) (33)
Available-for-sale, 12 months or longer, Fair Value 17,180 19,203
Available-for-sale, 12 months or longer, Unrealized losses (774) (739)
Available-for-sale, Total Fair Value 21,155 23,170
Available-for-sale, Total Unrealized Losses $ (798) $ (772)
v3.26.1
Loans and Allowance for Credit Losses - Summary of Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans $ 6,993,580 $ 6,039,231    
Less: loans held for sale 4,909 5,203    
Total gross loans held for investment 6,988,671 6,034,028    
Net deferred loan fees, premiums and discounts 49,304 27,857    
Allowance for credit losses 86,814 74,875 $ 70,051 $ 70,182
Net loans 6,852,553 5,931,296    
Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 4,902,392 4,152,807    
Construction and Land Development | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 319,945 361,678    
Allowance for credit losses 4,940 5,129 3,731 3,275
Agricultural | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 405,226 374,143    
Allowance for credit losses 1,415 1,283 1,292 1,361
Commercial | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 2,972,812 2,582,404    
Allowance for credit losses 41,619 35,589 32,214 32,669
Agricultural Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 370,124 307,290    
Allowance for credit losses 2,663 1,401 1,649 1,957
Commercial and Industrial Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 1,502,384 1,385,421    
Allowance for credit losses 28,553 26,285 26,028 25,602
Consumer Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 39,672 32,109    
Allowance for credit losses 1,681 1,435 1,593 1,739
All Other Loans        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 179,008 161,604    
1-4 Family | Residential Properties | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans 746,704 494,258    
Allowance for credit losses 5,943 3,753 $ 3,544 $ 3,579
Multifamily | Residential Properties | Real Estate Loan        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Gross loans $ 457,705 $ 340,324    
v3.26.1
Loans and Allowance for Credit Losses - Additional Information (Details)
 3 Months Ended 9 Months Ended
Mar. 31, 2026
USD ($)
Alternative
Loan_modified
Mar. 31, 2025
USD ($)
Loan_modified
Sep. 30, 2025
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Accrued interest on loans $ 40,100,000     $ 35,100,000  
Gross loans 6,939,367,000     6,006,171,000  
Increase in accounts and notes receivable 921,300,000        
Allowance for credit losses $ 86,814,000 $ 70,051,000   74,875,000 $ 70,182,000
Number of alternatives for measuring impaired loans receivable | Alternative 3        
Recorded balance of nonaccrual loans $ 43,191,000     31,053,000  
Interest lost on nonaccrual loans $ 501,000 $ 471,000      
Troubled debt restructurings balance | Loan_modified 1 4      
Real estate acquired through foreclosure $ 5,529,000 $ 2,900,000   2,857,000  
Mortgage loans secured by real estate In foreclosure 6,000,000 1,300,000      
Minimum          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Allowance for credit losses 250,000        
Minimum | Substandard          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Allowance for credit losses $ 5,000,000        
Commercial Real Estate          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Thresholds percentage of total capital 300.00%        
Recorded balance of nonaccrual loans $ 8,347,000     10,381,000  
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 years        
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 $ 7,680,000     5,763,000  
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 $ 1,415,000 1,292,000   1,283,000 1,361,000
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 $ 28,553,000 26,028,000   26,285,000 25,602,000
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 | Real Estate Loan          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Allowance for credit losses $ 4,940,000 $ 3,731,000   $ 5,129,000 $ 3,275,000
Construction and Land Development | Real Estate Loan | Minimum          
Accounts, Notes, Loans and Financing Receivable [Line Items]          
Gross loans $ 2,000,000        
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        
v3.26.1
Loans and Allowance for Credit Losses - Summary of Gross Commercial Real Estate Loans By Property Type (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans $ 6,993,580 $ 6,039,231
Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 4,902,392 4,152,807
Commercial | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 2,972,812 2,582,404
First Mid Bank | Commercial | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 2,602,171 2,582,404
First Mid Bank | Commercial | Real Estate Loan | Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 744,435 747,512
First Mid Bank | Commercial | Real Estate Loan | Shopping Centers and Malls | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 270,895 264,961
First Mid Bank | Commercial | Real Estate Loan | Industrial and Warehouse | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 247,069 237,522
First Mid Bank | Commercial | Real Estate Loan | Hotels and Motels | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 216,141 218,073
First Mid Bank | Commercial | Real Estate Loan | Skilled Nursing Facility | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 192,441 187,875
First Mid Bank | Commercial | Real Estate Loan | Office | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 162,049 160,524
First Mid Bank | Commercial | Real Estate Loan | Assisted Living Facility | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 168,834 170,733
First Mid Bank | Commercial | Real Estate Loan | Retail | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 112,492 112,169
First Mid Bank | Commercial | Real Estate Loan | RV Parks and Campgrounds | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 99,159 104,267
First Mid Bank | Commercial | Real Estate Loan | Other Property Types | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 388,656 378,768
Two Rivers Bank | Commercial | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 370,641 0
Two Rivers Bank | Commercial | Real Estate Loan | Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans 97,705 0
Two Rivers Bank | Commercial | Real Estate Loan | Non Owner Occupied    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Gross loans $ 272,936 $ 0
v3.26.1
Loans and Allowance for Credit Losses - Allowance for Credit Losses Based on Portfolio Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Allowance for loan losses [Abstract]    
Allowance for credit losses, Beginning Balance $ 74,875 $ 70,182
Initial allowance on loans acquired 10,841 0
Provision (release) for credit loss expense 2,598 1,652
Loans charged off (1,966) (2,083)
Recoveries collected 466 300
Allowance for credit losses, Ending Balance 86,814 70,051
Construction and Land Development | Real Estate Loan    
Allowance for loan losses [Abstract]    
Allowance for credit losses, Beginning Balance 5,129 3,275
Initial allowance on loans acquired 986 0
Provision (release) for credit loss expense (1,175) 456
Loans charged off 0 0
Recoveries collected 0 0
Allowance for credit losses, Ending Balance 4,940 3,731
Agricultural | Real Estate Loan    
Allowance for loan losses [Abstract]    
Allowance for credit losses, Beginning Balance 1,283 1,361
Initial allowance on loans acquired 184 0
Provision (release) for credit loss expense (12) (69)
Loans charged off (40) 0
Recoveries collected 0 0
Allowance for credit losses, Ending Balance 1,415 1,292
Residential Properties | Real Estate Loan | 1-4 Family    
Allowance for loan losses [Abstract]    
Allowance for credit losses, Beginning Balance 3,753 3,579
Initial allowance on loans acquired 2,140 0
Provision (release) for credit loss expense (117) (14)
Loans charged off (26) (39)
Recoveries collected 193 18
Allowance for credit losses, Ending Balance 5,943 3,544
Commercial | Real Estate Loan    
Allowance for loan losses [Abstract]    
Allowance for credit losses, Beginning Balance 35,589 32,669
Initial allowance on loans acquired 5,360 0
Provision (release) for credit loss expense 1,780 125
Loans charged off (1,111) (338)
Recoveries collected 1 8
Allowance for credit losses, Ending Balance 41,619 32,214
Agricultural Loans    
Allowance for loan losses [Abstract]    
Allowance for credit losses, Beginning Balance 1,401 1,957
Initial allowance on loans acquired 76 0
Provision (release) for credit loss expense 1,176 809
Loans charged off 0 (1,117)
Recoveries collected 10 0
Allowance for credit losses, Ending Balance 2,663 1,649
Commercial and Industrial Loans    
Allowance for loan losses [Abstract]    
Allowance for credit losses, Beginning Balance 26,285 25,602
Initial allowance on loans acquired 1,904 0
Provision (release) for credit loss expense 615 559
Loans charged off (291) (223)
Recoveries collected 40 90
Allowance for credit losses, Ending Balance 28,553 26,028
Consumer Loans    
Allowance for loan losses [Abstract]    
Allowance for credit losses, Beginning Balance 1,435 1,739
Initial allowance on loans acquired 191 0
Provision (release) for credit loss expense 331 36
Loans charged off (498) (366)
Recoveries collected 222 184
Allowance for credit losses, Ending Balance $ 1,681 $ 1,593
v3.26.1
Loans and Allowance for Credit Losses - Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans Individually Evaluated (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment $ 56,937 $ 49,626
Allowance for Credit Losses 1,594 489
Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 628 0
Allowance for Credit Losses 628 0
Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 8,025 7,152
Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 10,854 11,184
Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 37,430 31,290
Real Estate | Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Real Estate | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Real Estate | 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 18,850 18,307
Business Assets | Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Business Assets | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 7,996 7,123
Business Assets | Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 10,854 11,184
Other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 657 29
Other | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Allowance for Credit Losses   13
Other | Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 628 0
Other | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 29 29
Allowance for Credit Losses 2 392
Other | Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 0 0
Allowance for Credit Losses 165 84
Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 37,430 31,290
Allowance for Credit Losses 799 13
Real Estate Loan | Construction and Land Development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Allowance for Credit Losses 620 0
Real Estate Loan | Agricultural    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 506 111
Allowance for Credit Losses 0 0
Real Estate Loan | Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 8,465 0
Real Estate Loan | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 27,839 30,208
Allowance for Credit Losses 163  
Real Estate Loan | Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 37,430 31,290
Real Estate Loan | Real Estate | Construction and Land Development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 8,465 0
Real Estate Loan | Real Estate | Agricultural    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 506 111
Real Estate Loan | Real Estate | Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Individually Evaluated for Impairment 27,839 30,208
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 | Construction and Land Development    
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 | Construction and Land Development    
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 262 600
Allowance for Credit Losses 16 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 262 600
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 358 371
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 358 371
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
v3.26.1
Loans and Allowance for Credit Losses - Credit Risk Profile of Loan Portfolio Based on Risk Rating Category and Payment Activity (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Credit Quality Information [Abstract]    
Current fiscal year $ 1,399,528 $ 1,361,714
Fiscal year before current fiscal year 732,052 649,961
Two years before current fiscal year 518,936 437,734
Three years before current fiscal year 1,177,404 1,059,821
Four years before current fiscal year 2,689,321 806,863
Prior 323,649 1,601,795
Revolving Loans 103,386 93,486
Current period gross write-offs, current fiscal year 0 5
Current period gross write-offs, fiscal year before current fiscal year 0 1,014
Current period gross write-offs, two year before current fiscal year 8 1,387
Current period gross write-offs, three year before current fiscal year 1,049 1,551
Current period gross write-offs, four year before current fiscal year 414 846
Current period gross write-offs, prior 495 3,070
Current period gross write-offs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 6,944,276 6,011,374
Current period gross write-offs, total loans receivables 1,966 7,873
Pass    
Credit Quality Information [Abstract]    
Current fiscal year 1,360,193 1,339,692
Fiscal year before current fiscal year 699,861 632,760
Two years before current fiscal year 490,452 412,275
Three years before current fiscal year 1,113,090 1,007,252
Four years before current fiscal year 2,587,428 801,276
Prior 302,037 1,525,024
Revolving Loans 102,440 92,629
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 6,655,501 5,810,908
Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 36,443 20,846
Fiscal year before current fiscal year 21,203 9,684
Two years before current fiscal year 5,788 4,907
Three years before current fiscal year 54,920 43,446
Four years before current fiscal year 50,981 1,756
Prior 10,313 39,871
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 179,648 120,510
Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 2,890 1,176
Fiscal year before current fiscal year 10,986 7,517
Two years before current fiscal year 22,696 20,552
Three years before current fiscal year 9,394 9,123
Four years before current fiscal year 50,912 3,831
Prior 11,299 36,900
Revolving Loans 946 857
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 109,123 79,956
Doubtful    
Credit Quality Information [Abstract]    
Current fiscal year 2  
Fiscal year before current fiscal year 2  
Two years before current fiscal year 0  
Three years before current fiscal year 0  
Four years before current fiscal year 0  
Prior 0  
Revolving Loans 0  
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 4  
Commercial And Multifamily Portfolio Segment    
Credit Quality Information [Abstract]    
Current period gross write-offs, current fiscal year 0 0
Current period gross write-offs, fiscal year before current fiscal year 0 699
Current period gross write-offs, two year before current fiscal year 0 0
Current period gross write-offs, three year before current fiscal year 753 391
Current period gross write-offs, four year before current fiscal year 358 0
Current period gross write-offs, prior 0 107
Current period gross write-offs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Current period gross write-offs, total loans receivables 1,111 1,197
Agricultural Loans    
Credit Quality Information [Abstract]    
Current fiscal year 204,028 232,326
Fiscal year before current fiscal year 46,078 45,804
Two years before current fiscal year 12,928 10,179
Three years before current fiscal year 18,019 10,996
Four years before current fiscal year 22,032 6,410
Prior 67,846 2,560
Revolving Loans 0 0
Current period gross write-offs, current fiscal year 0 0
Current period gross write-offs, fiscal year before current fiscal year 0 280
Current period gross write-offs, two year before current fiscal year 0 1,081
Current period gross write-offs, three year before current fiscal year 0 836
Current period gross write-offs, four year before current fiscal year 0 306
Current period gross write-offs, prior 0 0
Current period gross write-offs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 370,931 308,275
Current period gross write-offs, total loans receivables 0 2,503
Agricultural Loans | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 185,712 230,666
Fiscal year before current fiscal year 37,265 45,361
Two years before current fiscal year 11,289 7,684
Three years before current fiscal year 16,573 10,151
Four years before current fiscal year 21,424 6,363
Prior 66,582 2,560
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 338,845 302,785
Agricultural Loans | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 16,584 1,209
Fiscal year before current fiscal year 8,519 76
Two years before current fiscal year 236 11
Three years before current fiscal year 676 0
Four years before current fiscal year 155 23
Prior 54 0
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 26,224 1,319
Agricultural Loans | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 1,732 451
Fiscal year before current fiscal year 294 367
Two years before current fiscal year 1,403 2,484
Three years before current fiscal year 770 845
Four years before current fiscal year 453 24
Prior 1,210 0
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 5,862 4,171
Commercial Industrial And Other Portfolio Segment    
Credit Quality Information [Abstract]    
Current fiscal year 460,822 451,351
Fiscal year before current fiscal year 228,353 225,203
Two years before current fiscal year 101,370 87,699
Three years before current fiscal year 220,159 219,631
Four years before current fiscal year 573,579 159,309
Prior 93,697 399,887
Revolving Loans 0 0
Current period gross write-offs, current fiscal year 0 0
Current period gross write-offs, fiscal year before current fiscal year 0 0
Current period gross write-offs, two year before current fiscal year 0 163
Current period gross write-offs, three year before current fiscal year 290 225
Current period gross write-offs, four year before current fiscal year 0 497
Current period gross write-offs, prior 1 1,600
Current period gross write-offs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 1,677,980 1,543,080
Current period gross write-offs, total loans receivables 291 2,485
Commercial Industrial And Other Portfolio Segment | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 441,881 431,942
Fiscal year before current fiscal year 217,030 214,908
Two years before current fiscal year 96,263 82,977
Three years before current fiscal year 209,636 210,658
Four years before current fiscal year 532,065 159,029
Prior 92,451 357,077
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 1,589,326 1,456,591
Commercial Industrial And Other Portfolio Segment | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 18,941 19,409
Fiscal year before current fiscal year 9,905 8,898
Two years before current fiscal year 2,975 2,542
Three years before current fiscal year 9,211 7,965
Four years before current fiscal year 22,675 61
Prior 271 26,193
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 63,978 65,068
Commercial Industrial And Other Portfolio Segment | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 0 0
Fiscal year before current fiscal year 1,418 1,397
Two years before current fiscal year 2,132 2,180
Three years before current fiscal year 1,312 1,008
Four years before current fiscal year 18,839 219
Prior 975 16,617
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 24,676 21,421
Consumer Loans    
Credit Quality Information [Abstract]    
Current fiscal year 9,636 5,619
Fiscal year before current fiscal year 4,566 2,585
Two years before current fiscal year 3,869 2,821
Three years before current fiscal year 12,057 13,054
Four years before current fiscal year 6,819 5,643
Prior 2,650 2,196
Revolving Loans 0 0
Current period gross write-offs, current fiscal year 0 5
Current period gross write-offs, fiscal year before current fiscal year 0 23
Current period gross write-offs, two year before current fiscal year 8 27
Current period gross write-offs, three year before current fiscal year 6 99
Current period gross write-offs, four year before current fiscal year 40 43
Current period gross write-offs, prior 444 1,228
Current period gross write-offs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 39,597 31,918
Current period gross write-offs, total loans receivables 498 1,425
Consumer Loans | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 9,634 5,619
Fiscal year before current fiscal year 4,539 2,555
Two years before current fiscal year 3,847 2,812
Three years before current fiscal year 11,842 12,861
Four years before current fiscal year 6,623 5,511
Prior 2,641 2,119
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 39,126 31,477
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 0
Three years before current fiscal year 18 22
Four years before current fiscal year 0 0
Prior 0 0
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 18 22
Consumer Loans | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 0 0
Fiscal year before current fiscal year 25 30
Two years before current fiscal year 22 9
Three years before current fiscal year 197 171
Four years before current fiscal year 196 132
Prior 9 77
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 449 419
Consumer Loans | Doubtful    
Credit Quality Information [Abstract]    
Current fiscal year 2  
Fiscal year before current fiscal year 2  
Two years before current fiscal year 0  
Three years before current fiscal year 0  
Four years before current fiscal year 0  
Prior 0  
Revolving Loans 0  
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 4  
Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 4,855,768 4,128,101
Real Estate Loan | Construction and Land Development    
Credit Quality Information [Abstract]    
Current fiscal year 114,672 114,696
Fiscal year before current fiscal year 115,440 99,757
Two years before current fiscal year 10,974 120,000
Three years before current fiscal year 11,949 5,172
Four years before current fiscal year 33,647 6,048
Prior 30,041 15,014
Revolving Loans 0 0
Current period gross write-offs, current fiscal year 0 0
Current period gross write-offs, fiscal year before current fiscal year 0 0
Current period gross write-offs, two year before current fiscal year 0 107
Current period gross write-offs, three year before current fiscal year 0 0
Current period gross write-offs, four year before current fiscal year 0 0
Current period gross write-offs, prior 0 0
Current period gross write-offs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 316,723 360,687
Current period gross write-offs, total loans receivables 0 107
Real Estate Loan | Construction and Land Development | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 114,672 114,696
Fiscal year before current fiscal year 115,440 99,757
Two years before current fiscal year 5,549 119,602
Three years before current fiscal year 11,944 5,167
Four years before current fiscal year 32,841 6,048
Prior 27,000 14,659
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 307,446 359,929
Real Estate Loan | Construction and Land Development | 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 457 398
Three years before current fiscal year 0 0
Four years before current fiscal year 342 0
Prior 0 348
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 799 746
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 4,968 0
Three years before current fiscal year 5 5
Four years before current fiscal year 464 0
Prior 3,041 7
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 8,478 12
Real Estate Loan | Agricultural    
Credit Quality Information [Abstract]    
Current fiscal year 43,623 43,584
Fiscal year before current fiscal year 30,487 22,573
Two years before current fiscal year 15,627 13,415
Three years before current fiscal year 129,486 130,517
Four years before current fiscal year 175,440 63,080
Prior 6,120 100,239
Revolving Loans 0 0
Current period gross write-offs, current fiscal year 0 0
Current period gross write-offs, fiscal year before current fiscal year 0 0
Current period gross write-offs, two year before current fiscal year 0 0
Current period gross write-offs, three year before current fiscal year 0 0
Current period gross write-offs, four year before current fiscal year 0 0
Current period gross write-offs, prior 40 0
Current period gross write-offs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 400,783 373,408
Current period gross write-offs, total loans receivables 40 0
Real Estate Loan | Agricultural | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 41,672 42,758
Fiscal year before current fiscal year 28,126 22,040
Two years before current fiscal year 14,734 12,609
Three years before current fiscal year 96,710 107,950
Four years before current fiscal year 142,215 61,357
Prior 682 87,939
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 324,139 334,653
Real Estate Loan | Agricultural | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 918 228
Fiscal year before current fiscal year 2,361 339
Two years before current fiscal year 893 806
Three years before current fiscal year 32,019 22,343
Four years before current fiscal year 21,924 1,331
Prior 4,775 7,810
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 62,890 32,857
Real Estate Loan | Agricultural | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 1,033 598
Fiscal year before current fiscal year 0 194
Two years before current fiscal year 0 0
Three years before current fiscal year 757 224
Four years before current fiscal year 11,301 392
Prior 663 4,490
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 13,754 5,898
Real Estate Loan | Commercial And Multifamily Portfolio Segment    
Credit Quality Information [Abstract]    
Current fiscal year 489,277 459,831
Fiscal year before current fiscal year 260,209 222,469
Two years before current fiscal year 323,871 174,368
Three years before current fiscal year 673,886 616,668
Four years before current fiscal year 1,550,756 501,098
Prior 106,210 929,718
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 3,404,209 2,904,152
Real Estate Loan | Commercial And Multifamily Portfolio Segment | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 489,277 459,831
Fiscal year before current fiscal year 251,123 217,098
Two years before current fiscal year 309,047 157,923
Three years before current fiscal year 655,550 597,491
Four years before current fiscal year 1,533,869 498,456
Prior 96,953 916,195
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 3,335,819 2,846,994
Real Estate Loan | Commercial And Multifamily Portfolio Segment | Special Mention    
Credit Quality Information [Abstract]    
Current fiscal year 0 0
Fiscal year before current fiscal year 418 371
Two years before current fiscal year 1,227 1,150
Three years before current fiscal year 12,817 12,931
Four years before current fiscal year 5,204 248
Prior 5,213 4,760
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 24,879 19,460
Real Estate Loan | Commercial And Multifamily Portfolio Segment | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 0 0
Fiscal year before current fiscal year 8,668 5,000
Two years before current fiscal year 13,597 15,295
Three years before current fiscal year 5,519 6,246
Four years before current fiscal year 11,683 2,394
Prior 4,044 8,763
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 43,511 37,698
1-4 Family | Real Estate Loan | Residential Properties    
Credit Quality Information [Abstract]    
Current fiscal year 77,470 54,307
Fiscal year before current fiscal year 46,919 31,570
Two years before current fiscal year 50,297 29,252
Three years before current fiscal year 111,848 63,783
Four years before current fiscal year 327,048 65,275
Prior 17,085 152,181
Revolving Loans 103,386 93,486
Current period gross write-offs, current fiscal year 0 0
Current period gross write-offs, fiscal year before current fiscal year 0 12
Current period gross write-offs, two year before current fiscal year 0 9
Current period gross write-offs, three year before current fiscal year 0 0
Current period gross write-offs, four year before current fiscal year 16 0
Current period gross write-offs, prior 10 135
Current period gross write-offs, revolving loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 734,053 489,854
Current period gross write-offs, total loans receivables 26 156
1-4 Family | Real Estate Loan | Residential Properties | Pass    
Credit Quality Information [Abstract]    
Current fiscal year 77,345 54,180
Fiscal year before current fiscal year 46,338 31,041
Two years before current fiscal year 49,723 28,668
Three years before current fiscal year 110,835 62,974
Four years before current fiscal year 318,391 64,512
Prior 15,728 144,475
Revolving Loans 102,440 92,629
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 720,800 478,479
1-4 Family | Real Estate Loan | Residential Properties | 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 0
Three years before current fiscal year 179 185
Four years before current fiscal year 681 93
Prior 0 760
Revolving Loans 0 0
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 860 1,038
1-4 Family | Real Estate Loan | Residential Properties | Substandard    
Credit Quality Information [Abstract]    
Current fiscal year 125 127
Fiscal year before current fiscal year 581 529
Two years before current fiscal year 574 584
Three years before current fiscal year 834 624
Four years before current fiscal year 7,976 670
Prior 1,357 6,946
Revolving Loans 946 857
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable $ 12,393 $ 10,337
v3.26.1
Loans and Allowance for Credit Losses - Loan Portfolio, on Amortized Cost Basis, Aging Analysis (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Loans Receivable Aging Analysis [Abstract]    
Total Past Due $ 6,939,367 $ 6,006,171
Total Loans Receivable 6,944,276 6,011,374
Total Loans> 90 Days and Accruing 0 0
Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 4,855,768 4,128,101
Total Loans> 90 Days and Accruing 0 0
Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 316,723 360,687
Total Loans> 90 Days and Accruing 0 0
Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 400,783 373,408
Total Loans> 90 Days and Accruing 0 0
Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 734,053 489,854
Total Loans> 90 Days and Accruing 0 0
Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 456,185 339,482
Total Loans> 90 Days and Accruing 0 0
Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 2,948,024 2,564,670
Total Loans> 90 Days and Accruing 0 0
Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 370,931 308,275
Total Loans> 90 Days and Accruing 0 0
Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 1,499,079 1,381,598
Total Loans> 90 Days and Accruing 0 0
Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 39,597 31,918
Total Loans> 90 Days and Accruing 0 0
All Other Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Loans Receivable 178,901 161,482
Total Loans> 90 Days and Accruing 0 0
Financial Asset, 30 to 59 Days Past Due    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 13,143 6,180
Financial Asset, 30 to 59 Days Past Due | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 10,925 5,437
Financial Asset, 30 to 59 Days Past Due | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 0 0
Financial Asset, 30 to 59 Days Past Due | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 162 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 5,676 4,725
Financial Asset, 30 to 59 Days Past Due | Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 107 0
Financial Asset, 30 to 59 Days Past Due | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 4,980 712
Financial Asset, 30 to 59 Days Past Due | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 695 0
Financial Asset, 30 to 59 Days Past Due | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,238 414
Financial Asset, 30 to 59 Days Past Due | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 285 329
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 5,309 2,126
Financial Asset, 60 to 89 Days Past Due | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 4,659 1,858
Financial Asset, 60 to 89 Days Past Due | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 3,266 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 943 1,630
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 450 228
Financial Asset, 60 to 89 Days Past Due | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 17 19
Financial Asset, 60 to 89 Days Past Due | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 561 205
Financial Asset, 60 to 89 Days Past Due | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 72 44
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 13,879 9,214
Financial Asset, Equal to or Greater than 90 Days Past Due | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 9,460 8,199
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 3,439 0
Financial Asset, Equal to or Greater than 90 Days Past Due | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 841 841
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 1,577 1,687
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 145 0
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 3,458 5,671
Financial Asset, Equal to or Greater than 90 Days Past Due | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 2,520 0
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,814 904
Financial Asset, Equal to or Greater than 90 Days Past Due | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 85 111
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 $ 32,331 $ 17,520
Percent of total loans 0.47% 0.29%
Total Past Due | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due $ 25,044 $ 15,494
Total Past Due | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 6,705 0
Total Past Due | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,003 841
Total Past Due | Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 8,196 8,042
Total Past Due | Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 252 0
Total Past Due | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 8,888 6,611
Total Past Due | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 3,232 19
Total Past Due | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 3,613 1,523
Total Past Due | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 442 484
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 6,911,945 5,993,854
Current | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 4,830,724 4,112,607
Current | Construction and Land Development | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 310,018 360,687
Current | Agricultural | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 399,780 372,567
Current | Residential Properties | Real Estate Loan | 1-4 Family    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 725,857 481,812
Current | Residential Properties | Real Estate Loan | Multifamily    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 455,933 339,482
Current | Commercial | Real Estate Loan    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 2,939,136 2,558,059
Current | Agricultural Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 367,699 308,256
Current | Commercial and Industrial Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 1,495,466 1,380,075
Current | Consumer Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due 39,155 31,434
Current | All Other Loans    
Loans Receivable Aging Analysis [Abstract]    
Total Past Due $ 178,901 $ 161,482
v3.26.1
Loans and Allowance for Credit Losses - Recorded Balance of Loans on Nonaccrual Loans (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance $ 26,993 $ 19,981
Financing Receivable, Nonaccrual 43,191 31,053
Construction and Land Development    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 3,796 5
Financing Receivable, Nonaccrual 8,470 5
Agricultural Real Estate Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 1,562 1,181
Financing Receivable, Nonaccrual 1,562 1,181
1-4 Family Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 6,158 4,940
Financing Receivable, Nonaccrual 7,680 5,763
Multifamily Residential Properties    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 503 371
Financing Receivable, Nonaccrual 503 371
Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 8,033 10,109
Financing Receivable, Nonaccrual 8,347 10,381
Loans Secured by Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 20,052 16,606
Financing Receivable, Nonaccrual 26,562 17,701
Agricultural Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 1,909 19
Financing Receivable, Nonaccrual 2,537 19
Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 3,028 1,232
Financing Receivable, Nonaccrual 3,057 1,967
Consumer Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 181 182
Financing Receivable, Nonaccrual 181 182
All Other Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable, Nonaccrual, No Allowance 1,823 1,942
Financing Receivable, Nonaccrual $ 10,854 $ 11,184
v3.26.1
Loans and Allowance for Credit Losses - Amortized Cost Basis of Loans Experiencing Financial Difficulty and Modified (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.06% 0.07%
Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.05% 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 0.03% 0.03%
Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total Class of Financing Receivable 0.01% 0.02%
Payment Delay Investment    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance $ 1,995 $ 2,029
Payment Delay Investment | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 1,577 1,168
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 283 304
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 32 42
Payment Delay Investment | Commercial Real Estate | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 1,262 822
Payment Delay Investment | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 418 859
Term Extension Modifications    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 1,275 1,000
Term Extension Modifications | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 1,061 906
Term Extension Modifications | Consumer Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 3 7
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 1,061 748
Term Extension Modifications | Commercial Real Estate | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 0 158
Term Extension Modifications | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 211 87
Interest Rate Reduction    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 505 979
Interest Rate Reduction | Real Estate Loan    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance 505 979
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 505 979
Interest Rate Reduction | Commercial and Industrial Loans    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivables, Modifications during Period, Balance $ 0 $ 0
v3.26.1
Loans and Allowance for Credit Losses - Performance of Loans Modified (Details) - Commercial Real Estate - USD ($)
$ in Thousands
Mar. 31, 2026
Mar. 31, 2025
30-59 Days Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable Modifications Performance Recorded Investment $ 0 $ 174
60-89 Days Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable Modifications Performance Recorded Investment 0 0
90 Days or More Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable Modifications Performance Recorded Investment 0 0
Total Past Due    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing Receivable Modifications Performance Recorded Investment $ 0 $ 174
v3.26.1
Loans and Allowance for Credit Losses - Financial Effect of Loan Modifications (Details)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Commercial Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Weighted Average Interest Rate Reduction 0.00% 1.00%
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% 0.00%
Weighted Average Term Extension (in months) 12 years
v3.26.1
Goodwill and Intangible Assets - Schedule of Intangible Assets and Goodwill (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
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 349,150 321,516
Goodwill and Intangible Assets, Accumulated Amortization 76,112 73,066
Core Deposit Intangibles    
Finite Lived Intangible Assets [Line Items]    
Intangible Assets, Gross Carrying Value 101,185 79,945
Intangible Assets, Accumulated Amortization 55,547 53,285
Customer List Intangibles    
Finite Lived Intangible Assets [Line Items]    
Intangible Assets, Gross Carrying Value 40,814 34,420
Intangible Assets, Accumulated Amortization $ 16,805 $ 16,021
v3.26.1
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
 1 Months Ended 3 Months Ended
Dec. 31, 2025
Mar. 31, 2026
Sep. 30, 2025
Oct. 29, 2025
Mar. 31, 2025
Sep. 30, 2024
Finite Lived Intangible Assets [Line Items]            
Goodwill, net $ 203,391,000 $ 203,391,000        
Principal balance of mortgage loans serviced for others 509,700,000 $ 495,700,000     $ 557,600,000  
Weighted average amortization period of intangibles   3 years 10 months 13 days        
Core Deposit Intangibles            
Finite Lived Intangible Assets [Line Items]            
Intangible assets amortization period   10 years        
Weighted average amortization period of intangibles   3 years 4 months 24 days        
Customer List Intangibles            
Finite Lived Intangible Assets [Line Items]            
Weighted average amortization period of intangibles   4 years 9 months 7 days        
Minimum | Customer List Intangibles            
Finite Lived Intangible Assets [Line Items]            
Intangible assets amortization period   3 years        
Maximum | Customer List Intangibles            
Finite Lived Intangible Assets [Line Items]            
Intangible assets amortization period   12 years        
Downs Insurance Agency, Inc. | Customer List Intangibles            
Finite Lived Intangible Assets [Line Items]            
Intangible assets acquired   $ 1,400,000        
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          
Mid Rivers Insurance Group, Inc.            
Finite Lived Intangible Assets [Line Items]            
Goodwill, net           $ 6,930,000
Two Rivers Financial Group, Inc            
Finite Lived Intangible Assets [Line Items]            
Goodwill, net   $ 0        
Two Rivers Financial Group, Inc | Core Deposit Intangibles            
Finite Lived Intangible Assets [Line Items]            
Intangible assets amortization period       10 years    
Two Rivers Financial Group, Inc | Customer List Intangibles            
Finite Lived Intangible Assets [Line Items]            
Intangible assets amortization period       11 years    
v3.26.1
Goodwill and Intangible Assets - Schedule of Reconciliation of Purchase Price Paid for Acquisition and Goodwill Recorded (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Sep. 30, 2024
Dec. 31, 2025
Less purchase accounting adjustments:      
Resulting goodwill from acquisition $ 203,391,000   $ 203,391,000
Mid Rivers Insurance Group, Inc.      
Goodwill [Line Items]      
Unallocated purchase price   $ 10,059,000  
Less purchase accounting adjustments:      
Insurance Company intangible   4,305,000  
Other liabilities   (1,176,000)  
Total purchase accounting adjustments   3,129,000  
Resulting goodwill from acquisition   $ 6,930,000  
Two Rivers Financial Group, Inc      
Goodwill [Line Items]      
Unallocated purchase price (14,671,000)    
Less purchase accounting adjustments:      
Decrease in fair value of securities 6,074,000    
Decrease in fair value of loans, net 17,145,000    
Decrease in fair value of premises and equipment 1,552,000    
Decrease on time deposits (131,000)    
Decrease in fair value of junior subordinated debt and other borrowings (253,000)    
Increase in core deposit intangible (17,056,000)    
Customer list intangible (5,043,000)    
Recapture of existing goodwill 20,657,000    
Other assets (8,274,000)    
Total purchase accounting adjustments 14,671,000    
Resulting goodwill from acquisition $ 0    
v3.26.1
Goodwill and Intangible Assets - Intangible Assets Mortgage Servicing Rights (Details) - Mortgage Servicing Rights - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Finite Lived Intangible Assets [Line Items]    
Beginning balance $ 4,566 $ 5,629
Adjustment to valuation reserve 0 1
Mortgage servicing rights amortized (255) (287)
Interest only strip (2) (5)
Ending balance 4,309 5,338
Fair value of portfolio $ 5,430 $ 6,500
v3.26.1
Goodwill and Intangible Assets - Schedule of Intangible Assets Amortization Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Finite Lived Intangible Assets [Line Items]    
Amortization of intangible assets $ 3,301 $ 3,231
Core Deposit Intangibles    
Finite Lived Intangible Assets [Line Items]    
Amortization of intangible assets 2,262 2,263
Customer List Intangibles    
Finite Lived Intangible Assets [Line Items]    
Amortization of intangible assets 784 681
Mortgage Servicing Rights    
Finite Lived Intangible Assets [Line Items]    
Amortization of intangible assets $ 255 $ 287
v3.26.1
Goodwill and Intangible Assets - Schedule of Expected Amortization Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Aggregate amortization expense:    
For period 01/01/26-03/31/26 $ 3,301 $ 3,231
Estimated amortization expense:    
For period 04/01/26-12/31/26 11,509  
For year ended 12/31/27 13,911  
For year ended 12/31/28 12,276  
For year ended 12/31/29 10,502  
For year ended 12/31/30 $ 8,117  
v3.26.1
Repurchase Agreements and Other Borrowings - Additional Information (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Repurchase Agreements And Other Borrowings [Abstract]    
Securities sold under agreements to repurchase weighted average rate 2.04%  
Federal Home Loan Bank Advances $ 275,180,108 $ 270,000,000
v3.26.1
Repurchase Agreements and Other Borrowings - Schedule of Securities Financing Transactions (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets Sold Under Agreements To Repurchase [Line Items]    
Securities pledged to Repurchase Agreements $ 208,811 $ 196,716
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 60,723 55,863
Mortgage-backed Securities    
Assets Sold Under Agreements To Repurchase [Line Items]    
Securities pledged to Repurchase Agreements [1] $ 148,088 $ 140,853
[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.
v3.26.1
Repurchase Agreements and Other Borrowings - Federal Home Loan Bank, Advances (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 275,180,108 $ 270,000,000
Interest Rate 2.46% - Maturity Date May 29, 2026    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 19,397  
Federal Home Loan Bank Advances, Term (in years) 7 years  
Federal Home Loan Bank, Advances, Interest Rate 2.46%  
Federal Home Loan Bank, Advances, Maturity Date May 29, 2026  
Interest Rate 1.74% - Maturity Date June 5, 2026    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 22,149  
Federal Home Loan Bank Advances, Term (in years) 10 years  
Federal Home Loan Bank, Advances, Interest Rate 1.74%  
Federal Home Loan Bank, Advances, Maturity Date Jun. 05, 2026  
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 3.87% - Maturity Date July 1, 2026    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 14,546  
Federal Home Loan Bank Advances, Term (in years) 15 years  
Federal Home Loan Bank, Advances, Interest Rate 3.87%  
Federal Home Loan Bank, Advances, Maturity Date Jul. 01, 2026  
Interest Rate 3.68% - Maturity Date July 20, 2026    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 14,365  
Federal Home Loan Bank Advances, Term (in years) 15 years  
Federal Home Loan Bank, Advances, Interest Rate 3.68%  
Federal Home Loan Bank, Advances, Maturity Date Jul. 20, 2026  
Interest Rate 4.79% - Maturity Date September 8, 2026    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 2,400,000  
Federal Home Loan Bank Advances, Term (in years) 3 years  
Federal Home Loan Bank, Advances, Interest Rate 4.79%  
Federal Home Loan Bank, Advances, Maturity Date Sep. 08, 2026  
Interest Rate 2.26% - Maturity Date September 9, 2026    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 19,538  
Federal Home Loan Bank Advances, Term (in years) 15 years  
Federal Home Loan Bank, Advances, Interest Rate 2.26%  
Federal Home Loan Bank, Advances, Maturity Date Sep. 09, 2026  
Interest Rate 2.11% - Maturity Date September 11, 2026    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 57,319  
Federal Home Loan Bank Advances, Term (in years) 7 years  
Federal Home Loan Bank, Advances, Interest Rate 2.11%  
Federal Home Loan Bank, Advances, Maturity Date Sep. 11, 2026  
Interest Rate 1.80% - Maturity Date October 9, 2026    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 66,169  
Federal Home Loan Bank Advances, Term (in years) 7 years  
Federal Home Loan Bank, Advances, Interest Rate 1.80%  
Federal Home Loan Bank, Advances, Maturity Date Oct. 09, 2026  
Interest Rate 1.81% - Maturity Date January 29, 2027    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 94,344  
Federal Home Loan Bank Advances, Term (in years) 7 years  
Federal Home Loan Bank, Advances, Interest Rate 1.81%  
Federal Home Loan Bank, Advances, Maturity Date Jan. 29, 2027  
Interest Rate 1.52% - Maturity Date March 1, 2027    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 102,811  
Federal Home Loan Bank Advances, Term (in years) 7 years  
Federal Home Loan Bank, Advances, Interest Rate 1.52%  
Federal Home Loan Bank, Advances, Maturity Date Mar. 01, 2027  
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 2.38% - Maturity Date August 6, 2027    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 22,083  
Federal Home Loan Bank Advances, Term (in years) 15 years  
Federal Home Loan Bank, Advances, Interest Rate 2.38%  
Federal Home Loan Bank, Advances, Maturity Date Aug. 06, 2027  
Interest Rate 2.42% - Maturity Date August 9, 2027    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 11,070  
Federal Home Loan Bank Advances, Term (in years) 15 years  
Federal Home Loan Bank, Advances, Interest Rate 2.42%  
Federal Home Loan Bank, Advances, Maturity Date Aug. 09, 2027  
Interest Rate 2.72% - Maturity Date January 26, 2028    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 204,236  
Federal Home Loan Bank Advances, Term (in years) 10 years  
Federal Home Loan Bank, Advances, Interest Rate 2.72%  
Federal Home Loan Bank, Advances, Maturity Date Jan. 26, 2028  
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 2.10% - Maturity Date June 20, 2029    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 261,208  
Federal Home Loan Bank Advances, Term (in years) 10 years  
Federal Home Loan Bank, Advances, Interest Rate 2.10%  
Federal Home Loan Bank, Advances, Maturity Date Jun. 20, 2029  
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 2.01% - Maturity Date August 2, 2029    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 182,238  
Federal Home Loan Bank Advances, Term (in years) 10 years  
Federal Home Loan Bank, Advances, Interest Rate 2.01%  
Federal Home Loan Bank, Advances, Maturity Date Aug. 02, 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 1.06% - Maturity Date March 6, 2030    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 412,756  
Federal Home Loan Bank Advances, Term (in years) 10 years  
Federal Home Loan Bank, Advances, Interest Rate 1.06%  
Federal Home Loan Bank, Advances, Maturity Date Mar. 06, 2030  
Interest Rate 1.29% - Maturity Date March 15, 2030    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 415,533  
Federal Home Loan Bank Advances, Term (in years) 10 years  
Federal Home Loan Bank, Advances, Interest Rate 1.29%  
Federal Home Loan Bank, Advances, Maturity Date Mar. 15, 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 0.89% - Maturity Date November 4, 2030    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 358,310  
Federal Home Loan Bank Advances, Term (in years) 10 years  
Federal Home Loan Bank, Advances, Interest Rate 0.89%  
Federal Home Loan Bank, Advances, Maturity Date Nov. 04, 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 0.83% - Maturity Date February 14, 2031    
FHLB Advances [Abstract]    
Federal Home Loan Bank Advances $ 502,036  
Federal Home Loan Bank Advances, Term (in years) 10 years  
Federal Home Loan Bank, Advances, Interest Rate 0.83%  
Federal Home Loan Bank, Advances, Maturity Date Feb. 14, 2031  
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  
v3.26.1
Disclosures of Fair Values of Financial Instruments - Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Available-for-sale securities:    
Total available-for-sale securities $ 1,176,071 $ 1,076,883
Equity securities, at fair value 4,717 4,588
U.S. Treasury Securities and Obligations of U.S. Government Corporations and Agencies    
Available-for-sale securities:    
Total available-for-sale securities 143,579 144,080
Obligations of States and Political Subdivisions    
Available-for-sale securities:    
Total available-for-sale securities 275,236 280,633
Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities 23,905 27,504
Fair Value, Recurring    
Available-for-sale securities:    
Total available-for-sale securities 1,176,071 1,076,883
Equity securities, at fair value 4,717 4,588
Loans held for sale, fair value 4,909 5,203
Derivative assets: interest rate swaps 1,721 1,728
Total assets 1,187,418 1,088,402
Derivative liabilities: interest rate swaps 1,241 1,247
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 143,579 144,080
Fair Value, Recurring | Obligations of States and Political Subdivisions    
Available-for-sale securities:    
Total available-for-sale securities 275,236 280,633
Fair Value, Recurring | Mortgage-backed Securities    
Available-for-sale securities:    
Total available-for-sale securities 733,351 624,666
Fair Value, Recurring | Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities 23,905 27,504
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 4,717 4,588
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 4,717 4,588
Loans held for sale, fair value 0 0
Derivative assets: interest rate swaps 0 0
Total assets 4,717 4,588
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 0
Significant Other Observable Inputs (Level 2)    
Available-for-sale securities:    
Total available-for-sale securities 1,165,837 1,074,124
Equity securities, at fair value 0 0
Loans held for sale, fair value 4,909 5,203
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring    
Available-for-sale securities:    
Total available-for-sale securities 1,165,837 1,074,124
Equity securities, at fair value 0 0
Loans held for sale, fair value 4,909 5,203
Derivative assets: interest rate swaps 1,721 1,728
Total assets 1,172,467 1,081,055
Derivative liabilities: interest rate swaps 1,241 1,247
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 143,579 144,080
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Obligations of States and Political Subdivisions    
Available-for-sale securities:    
Total available-for-sale securities 275,236 280,633
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Mortgage-backed Securities    
Available-for-sale securities:    
Total available-for-sale securities 725,876 624,666
Significant Other Observable Inputs (Level 2) | Fair Value, Recurring | Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities 21,146 24,745
Significant Unobservable Inputs (Level 3)    
Available-for-sale securities:    
Total available-for-sale securities 10,234 2,759
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 10,234 2,759
Equity securities, at fair value 0 0
Loans held for sale, fair value 0 0
Derivative assets: interest rate swaps 0 0
Total assets 10,234 2,759
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 7,475 0
Significant Unobservable Inputs (Level 3) | Fair Value, Recurring | Corporate bonded debt    
Available-for-sale securities:    
Total available-for-sale securities $ 2,759 $ 2,759
v3.26.1
Disclosures of Fair Values of Financial Instruments - Fair Value of Assets Measured on a Recurring Basis Using Significant Unobservable Inputs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Beginning balance $ 2,759 $ 5,759
Purchases 7,475 0
Ending balance $ 10,234 $ 5,759
v3.26.1
Disclosures of Fair Values of Financial Instruments - Additional Information (Details) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Allowance for credit losses $ 86,814,000 $ 70,051,000 $ 74,875,000 $ 70,182,000
Other real estate owned 5,529,000 2,900,000 2,857,000  
Mortgage Servicing Rights        
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Finite-lived intangible assets, net 4,309,000 5,338,000 4,566,000 $ 5,629,000
Mortgage servicing rights (MSR) impairment (recovery) 0 $ (1,000)    
Fair Value, Nonrecurring        
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Carrying amount of loans with a specific allowance 21,600,000   11,000,000  
Fair value of loans with a specific allowance 19,900,000   10,400,000  
Allowance for credit losses 1,700,000   605,000  
Fair Value, Nonrecurring | Carrying Amount        
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Other real estate owned 5,500,000   2,900,000  
Fair Value, Nonrecurring | Fair Value        
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]        
Other real estate owned $ 317,000   $ 605,000  
v3.26.1
Disclosures of Fair Values of Financial Instruments - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Collateral Dependent Loans    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value $ 19,916 $ 10,389
Foreclosed Assets Held-for-sale    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value 317 605
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 19,916 10,389
Significant Unobservable Inputs (Level 3) | Foreclosed Assets Held-for-sale    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value $ 317 $ 605
v3.26.1
Disclosures of Fair Values of Financial Instruments - Significant Unobservable Inputs Used in Valuation of Level 3 Fair Value Measurements (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
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 $ 19,916 $ 10,389
Collateral Dependent Loans | Fair Value, Nonrecurring | Level 3    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Assets, Fair Value $ 19,916 $ 10,389
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 $ 317 $ 605
v3.26.1
Disclosures of Fair Values of Financial Instruments - Summary of Estimated Fair Values of Company Financial Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Financial assets    
Total available-for-sale securities $ 1,176,071 $ 1,076,883
Held-to-maturity securities 2,271 2,288
Equity securities, at fair value 4,717 4,588
Carrying Amount    
Financial assets    
Cash and due from banks 476,083 254,844
Federal funds sold 949 76
Certificates of deposit 3,060 1,740
Total available-for-sale securities 1,176,071 1,076,883
Held-to-maturity securities 2,271 2,288
Equity securities, at fair value 4,717 4,588
Loans held for sale 4,909 5,203
Loans net of allowance for credit losses 6,939,367 5,931,296
Interest receivable 46,753 39,949
Federal Reserve Bank stock 19,855 19,855
Federal Home Loan Bank stock 12,341 11,351
Financial liabilities    
Deposits 7,547,639 6,395,273
Securities sold under agreements to repurchase 208,811 196,716
Interest payable 6,600 5,782
Federal Home Loan Bank borrowings 295,106 270,000
Fair Value    
Financial assets    
Cash and due from banks 476,083 254,844
Federal funds sold 949 76
Certificates of deposit 3,060 1,740
Total available-for-sale securities 1,176,071 1,076,883
Held-to-maturity securities 2,271 2,288
Equity securities, at fair value 4,717 4,588
Loans held for sale 4,909 5,203
Loans net of allowance for credit losses 6,653,493 5,761,258
Interest receivable 46,753 39,949
Federal Reserve Bank stock 19,855 19,855
Federal Home Loan Bank stock 12,341 11,351
Financial liabilities    
Deposits 7,476,423 6,322,439
Securities sold under agreements to repurchase 208,811 196,716
Interest payable 6,600 5,782
Federal Home Loan Bank borrowings 294,417 270,338
Subordinated Debt | Carrying Amount    
Financial liabilities    
Subordinated debt, net 60,072 60,008
Subordinated Debt | Fair Value    
Financial liabilities    
Subordinated debt, net 60,961 60,800
Junior Subordinated Debentures | Carrying Amount    
Financial liabilities    
Subordinated debt, net 34,022 24,454
Junior Subordinated Debentures | Fair Value    
Financial liabilities    
Subordinated debt, net 32,435 22,083
Fair Value, Inputs, Level 1 [Member]    
Financial assets    
Cash and due from banks 476,083 254,844
Federal funds sold 949 76
Certificates of deposit 0 0
Total available-for-sale securities 0 0
Held-to-maturity securities 2,271 2,288
Equity securities, at fair value 4,717 4,588
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 debt, net 0 0
Fair Value, Inputs, Level 1 [Member] | Junior Subordinated Debentures    
Financial liabilities    
Subordinated debt, net 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 3,060 1,740
Total available-for-sale securities 1,165,837 1,074,124
Held-to-maturity securities 0 0
Equity securities, at fair value 0 0
Loans held for sale 4,909 5,203
Loans net of allowance for credit losses 0 0
Interest receivable 46,753 39,949
Federal Reserve Bank stock 19,855 19,855
Federal Home Loan Bank stock 12,341 11,351
Financial liabilities    
Deposits 5,972,507 5,265,780
Securities sold under agreements to repurchase 208,811 196,716
Interest payable 6,600 5,782
Federal Home Loan Bank borrowings 294,417 270,338
Fair Value, Inputs, Level 2 [Member] | Subordinated Debt    
Financial liabilities    
Subordinated debt, net 60,961 60,800
Fair Value, Inputs, Level 2 [Member] | Junior Subordinated Debentures    
Financial liabilities    
Subordinated debt, net 32,435 22,083
Fair Value, Inputs, Level 3 [Member]    
Financial assets    
Cash and due from banks 0 0
Federal funds sold 0 0
Certificates of deposit 0 0
Total available-for-sale securities 10,234 2,759
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 6,653,493 5,761,258
Interest receivable 0 0
Federal Reserve Bank stock 0 0
Federal Home Loan Bank stock 0 0
Financial liabilities    
Deposits 1,503,916 1,056,659
Securities sold under agreements to repurchase 0 0
Interest payable 0 0
Federal Home Loan Bank borrowings 0 0
Fair Value, Inputs, Level 3 [Member] | Subordinated Debt    
Financial liabilities    
Subordinated debt, net 0 0
Fair Value, Inputs, Level 3 [Member] | Junior Subordinated Debentures    
Financial liabilities    
Subordinated debt, net $ 0 $ 0
v3.26.1
Business Combinations - Additional Information (Details) - USD ($)
 3 Months Ended
Oct. 29, 2025
Mar. 31, 2026
Mar. 31, 2025
Core Deposit Intangibles      
Business Combination [Line Items]      
Intangible assets amortization period   10 years  
Two Rivers Financial Group, Inc      
Business Combination [Line Items]      
Conversion of common stock 1.225    
Goodwill acquired during period $ 0    
Pre-tax of acquisition costs   $ 2,100,000 $ 0
Two Rivers Financial Group, Inc | ASU 2016-13      
Business Combination [Line Items]      
Allowance for credit losses 10,800,000    
Allowance for credit losses on non-PCD loans $ 896,200,000    
Two Rivers Financial Group, Inc | Core Deposit Intangibles      
Business Combination [Line Items]      
Intangible assets amortization period 10 years    
Two Rivers Financial Group, Inc | Customer List Intangibles      
Business Combination [Line Items]      
Intangible assets amortization period 11 years    
v3.26.1
Business Combinations - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - Two Rivers Financial Group, Inc
$ in Thousands
Oct. 29, 2025
USD ($)
Liabilities  
Total consideration paid $ 104,161
Fair Value Adjustments  
Assets  
Cash and due from banks 88,972
Loans held for sale 43
Loans, net 860,534
Investments-available for sale 169,780
FHLB stock 989
Premises and equipment 11,743
Accrued interest receivable 4,408
Prepaid expenses 954
Other assets 12,889
Deferred tax asset 10,191
Total assets acquired 1,186,786
Liabilities  
Deposits 1,040,793
FHLB advance 5,308
Note payable 20,004
Junior subordinated debt, net 9,526
Accrued interest payable 829
Accrued and other liabilities 6,165
Total liabilities assumed 1,082,625
Net assets acquired 104,161
Total consideration paid 104,161
Goodwill / bargain purchase 0
Core Deposit Intangibles | Fair Value Adjustments  
Assets  
Core deposit intangible 21,240
Customer List Intangibles | Fair Value Adjustments  
Assets  
Core deposit intangible $ 5,043
v3.26.1
Business Combinations - Summary of Consideration Transferred (Details) - Two Rivers Financial Group, Inc
Oct. 29, 2025
USD ($)
Business Combination [Line Items]  
Common stock issued (2,539,831 shares) $ 104,159,000
Cash consideration 2,000
Purchase price $ 104,161,000
v3.26.1
Business Combinations - Summary of Consideration Transferred (Parenthetical) (Details)
Oct. 29, 2025
shares
Two Rivers Financial Group, Inc  
Business Combination [Line Items]  
Consideration payable in shares 2,539,831
v3.26.1
Business Combinations - Summary of Loans Purchased (Details) - Two Rivers Financial Group, Inc [Member]
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Business Combination [Line Items]  
Unpaid principal balance $ 896,204
Allowance for credit losses at acquisition (10,841)
Non-credit discount on acquired loans (24,786)
Fair value of PCD loans $ 860,577
v3.26.1
Business Combinations - Unaudited Pro Forma Condensed Combined Financial Information (Details) - Two Rivers Financial Group, Inc [Member] - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Business Combination [Line Items]    
Net interest income $ 77,091 $ 68,234
Provision for loan losses 2,598 1,849
Non-interest income 28,498 27,725
Non-interest expense 69,530 65,067
Income before income taxes 33,461 29,043
Income tax expense 7,718 6,103
Net income available to common stockholders $ 25,743 $ 22,940
Earnings per share    
Basic $ 0.97 $ 0.87
Diluted $ 0.97 $ 0.87
Basic weighted average shares outstanding 26,470,468 26,398,648
Diluted weighted average shares outstanding 26,587,023 26,499,059
v3.26.1
Leases - Summary of Supplemental Balance Sheet Information (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Leases, Operating [Abstract]    
Operating lease right-of-use assets $ 13,411 $ 12,674
Operating lease liabilities $ 13,954 $ 13,210
Weighted-average remaining lease term (in years) 4 years 3 months 18 days 4 years 4 months 24 days
Weighted-average discount rate 3.57% 3.54%
v3.26.1
Leases - Summary of Maturities of Lease Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Lessee, Operating Lease, Liability, Payment, Due [Abstract]    
2026 $ 2,799  
2027 3,402  
2028 2,753  
2029 2,271  
2030 1,541  
Thereafter 2,685  
Total minimum lease payments 15,451  
Less imputed interest (1,497)  
Total lease liabilites $ 13,954 $ 13,210
v3.26.1
Leases - Summary of Components of Lease Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Lease, Cost [Abstract]    
Operating lease cost $ 912 $ 826
Short-term lease cost 37 31
Variable lease cost 173 343
Total lease cost 1,122 1,200
Income from subleases (77) (80)
Net lease cost $ 1,045 $ 1,120
v3.26.1
Leases - Summary of Operating Lease Cash Flows (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Leases [Abstract]    
Operating cash flows from operating leases $ 852 $ 822
v3.26.1
Lease - Additional Information (Details)
 3 Months Ended
Mar. 31, 2026
USD ($)
Leases [Abstract]  
Gain on sale of office building $ 630,000
v3.26.1
Derivatives - Schedule of Derivative Instruments (Details) - Fair Value Hedging - Designated As Hedging Instrument - Interest Rate Swap Agreements - Other Liabilities - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Derivative [Line Items]    
Derivative, Weighted Average Remaining Maturity (Years) 3 years 1 month 6 days 3 years 3 months 18 days
Derivative Liability, Notional Amount $ 11,901 $ 11,974
Derivative Liability, Estimated Value $ (1,241) $ (1,247)
v3.26.1
Derivatives - Summary of Derivative Instruments, Gain (Loss) (Details) - Fair Value Hedging - Interest Rate Swap Agreements - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Derivative [Line Items]    
Gain (Loss) on Derivatives $ (1) $ (263)
Gain (Loss) on Hedged Items $ 1 $ 263
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Interest and fees on loans Interest and fees on loans
v3.26.1
Derivatives - Summary of Hedged Instrument (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Hedged Instruments [Abstract]    
Carrying Amount of the Hedged Asset $ 11,421 $ 11,493
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 $ (480) $ (481)
v3.26.1
Derivatives - Summary of Non Hedge Instruments (Details) - Not Designated as Hedging Instrument - Interest Rate Swap Agreements - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Other Assets    
Derivative [Line Items]    
Derivative, Weighted Average Remaining Maturity (Years) 2 years 8 months 12 days 3 years
Derivative Assets, Notional Amount $ 24,238 $ 27,233
Derivative Assets, Estimated Value $ 1,721 $ 1,728
Loans    
Derivative [Line Items]    
Derivative, Weighted Average Remaining Maturity (Years) 2 years 8 months 12 days 3 years
Derivative Liability, Notional Amount $ 24,238 $ 27,233
Derivative Liability, Estimated Value $ (480) $ 481
Other Liabilities    
Derivative [Line Items]    
Derivative, Weighted Average Remaining Maturity (Years) 2 years 8 months 12 days 3 years
Derivative Liability, Notional Amount $ 24,238 $ 27,233
Derivative Liability, Estimated Value $ 1,241 $ 1,247
v3.26.1
Regulatory Capital - Additional Information (Details)
 3 Months Ended
Mar. 31, 2026
Regulatory Capital [Abstract]  
Description of regulatory requirements, capital adequacy purposes Quantitative measures established by regulatory capital standards to ensure capital adequacy require the Company and its subsidiary banks to maintain minimum capital amounts and ratios (set forth in the table below).
v3.26.1
Regulatory Capital - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Banking Regulation, Risk-Based Information [Abstract]    
Capital ($) $ 1,109,373 $ 989,634
Capital to RWA (%) 0.1548 0.1567
Capital Required for Capital Adequacy ($) $ 752,330 $ 663,053
Capital Required for Capital Adequacy to RWA (%) 0.105 0.105
Tier One Risk Based Capital ($) $ 972,518 $ 855,405
Tier One Risk Based Capital to RWA (%) 0.1357 0.1355
Tier One Risk Based Capital Required for Capital Adequacy ($) $ 609,029 $ 536,757
Tier One Risk Based Capital Required for Capital Adequacy to RWA (%) 0.085 0.085
Common Equity Tier One Risk Based Capital ($) $ 938,496 $ 830,951
Common Equity Tier One Risk Based Capital To RWA (%) 0.131 0.1316
Common Equity Tier One Risk Based Capital Required For Capital Adequacy ($) $ 501,553 $ 442,035
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to RWA (%) 0.07 0.07
Tier One Leverage Capital to Average Assets $ 972,518 $ 855,405
Tier One Leverage Capital to Average Assets (%) 0.1062 0.1107
Tier One Leverage Capital Required for Capital Adequacy ($) $ 366,286 $ 308,994
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (%) 0.04 0.04
First Mid Bank    
Banking Regulation, Risk-Based Information [Abstract]    
Capital ($) $ 918,376 $ 910,047
Capital to RWA (%) 0.1448 0.1447
Capital Required for Capital Adequacy ($) $ 665,941 $ 660,282
Capital Required for Capital Adequacy to RWA (%) 0.105 0.105
Capital Required to be Well Capitalized ($) $ 634,229 $ 628,840
Capital Required to be Well Capitalized to RWA (%) 0.10 0.10
Tier One Risk Based Capital ($) $ 842,769 $ 835,826
Tier One Risk Based Capital to RWA (%) 0.1329 0.1329
Tier One Risk Based Capital Required for Capital Adequacy with Capital Buffer ($) $ 539,095 $ 534,514
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 ($) $ 507,384 $ 503,072
Tier One Risk Based Capital Required to be Well Capitalized to RWA (%) 0.08 0.08
Common Equity Tier One Risk Based Capital ($) $ 842,769 $ 835,826
Common Equity Tier One Risk Based Capital To RWA (%) 0.1329 0.1329
Common Equity Tier One Risk Based Capital Required For Capital Adequacy ($) $ 443,961 $ 440,188
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 ($) $ 412,249 $ 408,746
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 $ 842,769 $ 835,826
Tier One Leverage Capital to Average Assets (%) 0.1075 0.1088
Tier One Leverage Capital Required for Capital Adequacy ($) $ 313,474 $ 307,361
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (%) 0.04 0.04
Tier One Leverage Capital Required to be Well Capitalized ($) $ 391,842 $ 384,201
Tier One Leverage Capital Required to be Well Capitalized to Average Assets (%) 0.05 0.05
Two Rivers Bank    
Banking Regulation, Risk-Based Information [Abstract]    
Capital ($) $ 116,694  
Capital to RWA (%) 0.1395  
Capital Required for Capital Adequacy ($) $ 87,862  
Capital Required for Capital Adequacy to RWA (%) 0.105  
Capital Required to be Well Capitalized ($) $ 83,678  
Capital Required to be Well Capitalized to RWA (%) 0.10  
Tier One Risk Based Capital ($) $ 115,518  
Tier One Risk Based Capital to RWA (%) 0.1381  
Tier One Risk Based Capital Required for Capital Adequacy with Capital Buffer ($) $ 71,126  
Tier One Risk Based Capital Required for Capital Adequacy with Capital Buffer to RWA (%) 0.085  
Tier One Risk Based Capital Required to be Well Capitalized ($) $ 66,942  
Tier One Risk Based Capital Required to be Well Capitalized to RWA (%) 0.08  
Common Equity Tier One Risk Based Capital ($) $ 115,518  
Common Equity Tier One Risk Based Capital To RWA (%) 0.1381  
Common Equity Tier One Risk Based Capital Required For Capital Adequacy ($) $ 58,574  
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to RWA (%) 0.07  
Common Equity Tier One Risk Based Capital Required to Be Well Capitalized ($) $ 54,391  
Common Equity Tier One Risk Based Capital Required To Be Well Capitalized to RiWA (%) 0.065  
Tier One Leverage Capital to Average Assets $ 115,518  
Tier One Leverage Capital to Average Assets (%) 0.0994  
Tier One Leverage Capital Required for Capital Adequacy ($) $ 46,467  
Tier One Leverage Capital Required for Capital Adequacy to Average Assets (%) 0.04  
Tier One Leverage Capital Required to be Well Capitalized ($) $ 58,084  
Tier One Leverage Capital Required to be Well Capitalized to Average Assets (%) 0.05  
v3.26.1
Commitments and Contingent Liabilities - Schedule of Off-balance Sheet Financial Instruments Whose Contract Amounts Represent Credit Risk (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Commitments to Extend Credit [Member]    
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Commercial real estate $ 226,184 $ 214,028
Commercial operating 774,829 675,087
Home equity 128,947 119,456
Other 357,169 371,322
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Asset 1,487,129 1,379,893
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 $ 14,937 $ 17,575
v3.26.1
Commitments and Contingent Liabilities - Additional Information (Details)
 3 Months Ended
Mar. 31, 2026
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