Mattoon, IL (October 7, 2024) – First Mid Bancshares, Inc., the holding company for First Mid Bank & Trust (First Mid), is proud to announce it has been named a 2024 Bank & Thrift Sm-All Star by Piper Sandler, a prestigious honor recognizing top-performing banks in the small cap segment. This distinction places First Mid among an elite group of 30 financial institutions across the country, showcasing its exceptional performance and commitment to delivering value to its customers, shareholders, and communities.
This year’s class admits eight new members and welcomes back 22 alumni. The objective of the Sm-All Stars is to identify the top performing small-cap banks and thrifts in the country. The designation is awarded based on a rigorous evaluation of key financial metrics, including profitability, growth, credit quality, and capital strength. Out of more than 350 publicly traded banks considered, only the top 30 are selected, representing the highest level of operational excellence and financial stability.
“We are thrilled to be recognized by Piper Sandler as a top-performing bank,” said Matt Smith, Chief Financial Officer at First Mid. “This achievement is a testament to our team’s dedication to providing outstanding service, innovative financial solutions, and sustainable growth for our clients and shareholders. We remain focused on building strong relationships and supporting the economic vitality of the communities we serve.”
The Sm-All Star award underscores First Mid’s strategic growth, commitment to prudent risk management, and customer-centric approach that has led to consistent financial success in a competitive market.
To earn Sm-All Star status, companies needed to have a market cap below $2.5 billion and clear numerous hurdles related to growth, profitability, credit quality, and capital strength. Against industry medians, banks had to outperform EPS growth, loan growth, deposit growth, ROAE, and in addition were required to report an NPA ratio below 0.75% at 6/30/24, an NCO ratio over the last twelve months of less than 25 bps, and a TCE ratio at or above 7.0% at 6/30/24.
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About First Mid Bancshares, Inc.: First Mid Bancshares, Inc. is the parent company of First Mid Bank & Trust, N.A., First Mid Insurance Group, Inc., and First Mid Wealth Management Company. First Mid is a $7.6 billion community-focused organization that provides financial services including banking, insurance, wealth management, brokerage, and ag services through a network of locations in Illinois, Missouri, Texas, and Wisconsin, and a loan production office in Indiana. Together, our First Mid team takes great pride in providing solutions and services to our customers and communities and has done so since 1865. More information about the Company is available on our website at www.firstmid.com. Our stock is traded in The NASDAQ Stock Market LLC under the ticker symbol “FMBH”. Member FDIC | Equal Housing Lender.