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First Mid Bancshares

FMBH
69
Banks - Regional · Financial Services
Exchange
NASDAQ
Winston Score
69
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Bank Quality
Good
Growth
Strong
Capital Strength
Exceptional
Asset Quality
Exceptional
Valuation
Good
Dividends
Mixed
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Winston Score History

The full picture

First Mid Bancshares is a regional bank holding company based in Mattoon, Illinois. It owns First Mid Bank & Trust, which offers everyday banking services like checking accounts, savings accounts, loans, and mortgages to individuals, families, and small businesses. The company also provides insurance and wealth management services, making it more than just a basic bank.

First Mid makes money by collecting interest on loans and charging fees for banking and financial services. It operates primarily across Illinois and Missouri, with over 60 branch locations, and has grown largely through acquiring smaller community banks in the region. With a market cap around $1.4 billion, it is a mid-sized community bank whose main competitive advantage is deep local relationships in smaller Midwestern markets. The key risk it faces is interest rate sensitivity — when rates shift, the gap between what it earns on loans and what it pays on deposits can shrink, putting pressure on profits.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+7.1% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

10.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$8.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

First Mid Bancshares's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Bank Quality

Return on owners' money
Return on Equity
10.4%
no trend
Solid — 10.4% return on equity

Standard mid-range return on equity. Acceptable.

Profit on lending
Net Interest Margin
3.75%
no trend
Wide spread — 3.75% net interest margin
Cost of running the bank
Efficiency Ratio
55.4%
no trend
Efficient — 55.4% efficiency ratio

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Growth

Sales growth
Sales YoY
+0.5%
Nearly flat sales (+0.5% YoY)
Profit growth
EPS YoY
+14.4%
Earnings growing (+14.4% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Capital Strength

Safety cushion
Capital Ratio
13.3%
no trend
Fortress balance sheet — 13.3% CET1

A strong capital cushion. This bank is well padded against a bad year.

Asset Quality

Loans not being repaid
Non-Performing Loans
0.53%
no trend
Clean loan book — 0.53% non-performing

Below 1% of loans are troubled. Still a healthy, well-run loan book.

Loans written off
Net Charge-Offs
0.10%
no trend
Minimal losses — 0.10% net charge-offs

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Valuation

Price vs profit
P/E Ratio (TTM)
12.4x
no trend
Attractive valuation — P/E 12.4

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+0.5
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
1.90%
no trend
Small dividend — 1.90% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+4.1%
no trend
Dividend growing modestly (4.1% YoY)

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