FIRST MID BANCSHARES, INC.

FMBH · State Commercial Banks · 26.6M shares · +7%/yr ↑ shares · EDGAR filings ↗

Net buyback after stock comp: -$1M (gross $465K, SBC $2M)

Reference price $43.67 · est. market cap ~$1.2B — last insider sale, 2026-02-20 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

C65

First Mid Bancshares — Illinois community bank with average returns.

Strengths

Net income +16%, free cash flow 68th pct
Diversified wealth/insurance fees

Risks

ROE 9.6% (46th) average
Higher leverage (78th pct)
Regional concentration

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Insider sellingInsider selling — 2 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$282,778, last 6mo) Form 4 ↗

Key metrics

Return on equity

9.6%

Return on assets

1.2%

Net-income growth

16.3%

Debt / equity

0.4×

Free cash flow

$124M

Tangible book value

$706M

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-05-08	Nelson Regina P	Grant	1.0K	$43.94
2026-04-02	Westerhold Mary	Grant	323	$41.15
2026-04-02	McRae Eric S	Grant	86	$41.15
2026-04-02	Cook Robert S	Grant	320	$41.15
2026-04-02	Zimmer James Edwin	Grant	308	$41.15
2026-04-02	SMITH MATTHEW K	Grant	65	$41.15
2026-02-20	Wolak Stas R	Sell	430	$43.67
2026-02-17	Zimmer James Edwin	Buy	44	$43.73
2026-02-17	Zimmer James Edwin	Buy	53	$43.60
2026-02-17	Zimmer James Edwin	Buy	38	$43.58
2026-02-17	Zimmer James Edwin	Buy	38	$43.67
2026-02-17	Zimmer James Edwin	Buy	44	$43.72
2026-02-04	Beesley Bradley L	Sell	6.0K	$44.00
2026-02-02	Dean Clay M	Grant	2.4K	$43.58
2026-02-02	Westerhold Mary	Grant	775	$43.58
2026-02-02	Beesley Bradley L	Grant	2.4K	$43.58
2026-02-02	Zimmer James Edwin	Grant	775	$43.58
2026-02-02	Melvin Alex J	Grant	775	$43.58
2026-02-02	McCurry James Kyle	Grant	775	$43.58
2026-02-02	Marcus Gisele A	Grant	775	$43.58
2026-02-02	Horn Zachary	Grant	775	$43.58
2026-02-02	Cook Robert S	Grant	775	$43.58
2026-02-02	Adams Holly B	Grant	775	$43.58
2026-02-02	Wolak Stas R	Grant	2.4K	$43.58
2026-02-02	TAYLOR MICHAEL L	Grant	3.9K	$43.58
2026-02-02	SMITH MATTHEW K	Grant	5.0K	$43.58
2026-02-02	Schuetz Anya Y	Grant	1.2K	$43.58
2026-02-02	Read Jordan D.	Grant	3.9K	$43.58
2026-02-02	McRae Eric S	Grant	3.9K	$43.58
2026-02-02	McElwee Megan E	Grant	2.4K	$43.58
2026-02-02	Lewis Amanda D	Grant	2.9K	$43.58
2026-02-02	GATONS RHONDA G	Grant	2.4K	$43.58
2026-02-02	Frieburg Jeremy R	Grant	2.3K	$43.58
2026-02-02	Dively Joseph R	Grant	13K	$43.58
2026-02-02	Palmby Paul Laurence	Grant	775	$43.58
2026-02-02	Crowder Jason M	Grant	2.4K	$43.58
2026-01-05	McCurry James Kyle	Grant	319	$39.55
2026-01-05	Cook Robert S	Grant	341	$39.55
2026-01-05	Westerhold Mary	Grant	338	$39.55
2026-01-05	McRae Eric S	Grant	105	$39.55
2026-01-05	Horn Zachary	Grant	306	$39.55
2026-01-05	Zimmer James Edwin	Grant	322	$39.55
2025-12-24	Dean Clay M	Sell	3.7K	$40.58
2025-12-18	Dean Clay M	Sell	1.1K	$42.69
2025-12-15	Crowder Jason M	Tax withheld	411	$42.29
2025-12-15	Wolak Stas R	Tax withheld	175	$42.29
2025-12-15	TAYLOR MICHAEL L	Tax withheld	844	$42.29
2025-12-15	SMITH MATTHEW K	Tax withheld	844	$42.29
2025-12-15	Schuetz Anya Y	Tax withheld	172	$42.29
2025-12-15	Read Jordan D.	Tax withheld	470	$42.29
2025-12-15	McRae Eric S	Tax withheld	844	$42.29
2025-12-15	McElwee Megan E	Tax withheld	411	$42.29
2025-12-15	Lewis Amanda D	Tax withheld	549	$42.29
2025-12-15	GATONS RHONDA G	Tax withheld	456	$42.29
2025-12-15	Frieburg Jeremy R	Tax withheld	250	$42.29
2025-12-15	Dean Clay M	Tax withheld	549	$42.29
2025-12-15	Beesley Bradley L	Tax withheld	549	$42.29
2025-12-15	Dively Joseph R	Tax withheld	2.9K	$42.29
2025-12-08	Melvin Alex J	Grant	117	$39.93
2025-12-03	Dively Joseph R	Gift	13K	—
2025-10-02	Cook Robert S	Grant	364	$37.08
2025-10-02	Westerhold Mary	Grant	361	$37.08
2025-10-02	Horn Zachary	Grant	327	$37.08
2025-10-02	Zimmer James Edwin	Grant	344	$37.08
2025-10-02	McCurry James Kyle	Grant	340	$37.08
2025-10-02	McRae Eric S	Grant	96	$37.08
2025-08-06	Dean Clay M	Sell	1.6K	$37.64
2025-07-02	Zimmer James Edwin	Grant	327	$38.97
2025-07-02	Westerhold Mary	Grant	343	$38.97
2025-07-02	McCurry James Kyle	Grant	324	$38.97
2025-07-02	Horn Zachary	Grant	311	$38.97
2025-07-02	Cook Robert S	Grant	347	$38.97
2025-07-02	McRae Eric S	Grant	106	$38.97
2025-04-02	Crowder Jason M	Grant	1.8K	$34.79
2025-04-02	Cook Robert S	Grant	387	$34.79
2025-04-02	Marcus Gisele A	Grant	355	$34.79
2025-04-02	Westerhold Mary	Grant	384	$34.79
2025-04-02	McRae Eric S	Grant	100	$34.79
2025-04-02	Horn Zachary	Grant	348	$34.79
2025-04-02	Zimmer James Edwin	Grant	366	$34.79
2025-04-02	McCurry James Kyle	Grant	362	$34.79
2025-01-27	Wolak Stas R	Grant	1.8K	$38.96
2025-01-27	TAYLOR MICHAEL L	Grant	3.9K	$38.96
2025-01-27	SMITH MATTHEW K	Grant	3.9K	$38.96
2025-01-27	Schuetz Anya Y	Grant	935	$38.96
2025-01-27	Read Jordan D.	Grant	2.4K	$38.96
2025-01-27	McRae Eric S	Grant	3.9K	$38.96
2025-01-27	McElwee Megan E	Grant	1.8K	$38.96
2025-01-27	Lewis Amanda D	Grant	2.4K	$38.96
2025-01-27	GATONS RHONDA G	Grant	2.4K	$38.96
2025-01-27	Frieburg Jeremy R	Grant	1.8K	$38.96
2025-01-27	Dively Joseph R	Grant	13K	$38.96
2025-01-27	Dean Clay M	Grant	2.4K	$38.96
2025-01-27	Crowder Jason M	Grant	1.8K	$38.96
2025-01-27	Beesley Bradley L	Grant	2.4K	$38.96
2025-01-27	Zimmer James Edwin	Grant	700	$38.96
2025-01-27	Westerhold Mary	Grant	700	$38.96
2025-01-27	Palmby Paul Laurence	Grant	700	$38.96
2025-01-27	McCurry James Kyle	Grant	700	$38.96
2025-01-27	Marcus Gisele A	Grant	700	$38.96
2025-01-27	Horn Zachary	Grant	700	$38.96
2025-01-27	Cook Robert S	Grant	700	$38.96
2025-01-27	Adams Holly B	Grant	700	$38.96
2025-01-03	Cook Robert S	Grant	380	$35.59
2025-01-03	Crowder Jason M	Grant	54	$35.59
2025-01-03	Marcus Gisele A	Grant	348	$35.59
2025-01-03	McCurry James Kyle	Grant	355	$35.59
2025-01-03	Westerhold Mary	Grant	377	$35.59
2025-01-03	Zimmer James Edwin	Grant	359	$35.59
2025-01-03	McRae Eric S	Grant	114	$35.59

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

Date	Items
2026-05-01	Shareholder vote	filing ↗
2026-04-29	ResultsExhibits	filing ↗
2026-04-29	Exec/director changeReg FDExhibits	filing ↗
2026-04-15	Material agreement1.02Debt obligationExhibits	filing ↗
2026-03-02	Acquisition/dispositionDebt obligationReg FDExhibits	filing ↗
2026-02-25	Other	filing ↗
2026-02-20	Material agreementDebt obligationExhibits	filing ↗
2026-01-29	ResultsExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
10-Q	2026-05-08	2026-03-31	0001193125-26-213797 ↗
8-K	2026-05-01	2026-05-01	0001171843-26-002932 ↗
8-K	2026-04-29	2026-04-29	0001171843-26-002841 ↗
8-K	2026-04-29	2026-04-29	0001171843-26-002829 ↗
8-K	2026-04-15	2026-04-15	0001171843-26-002468 ↗
8-K	2026-03-02	2026-03-02	0001171843-26-001231 ↗
10-K	2026-02-27	2025-12-31	0001193125-26-080847 ↗
8-K	2026-02-25	2026-02-25	0001171843-26-001082 ↗
8-K	2026-02-20	2026-02-20	0001171843-26-000963 ↗
8-K	2026-01-29	2026-01-29	0001171843-26-000505 ↗
8-K	2026-01-02	2026-01-02	0001171843-26-000009 ↗
8-K	2025-12-30	2025-12-30	0001171843-25-008123 ↗