FIRST MID BANCSHARES, INC.

First Mid Bancshares, Inc. entered into an employment agreement with Matthew K. Smith, effective July 1, 2026, through December 31, 2027, with automatic annual renewals. The agreement provides an annual base salary of $425,000 and eligibility for incentive compensation with a target of 75% of the base salary. It also includes participation in deferred and long-term incentive plans, four weeks of vacation, and various fringe benefits. The agreement outlines termination provisions, including enhanced severance following a change in control, and includes confidentiality, non-compete, and non-solicitation covenants.

First Mid Bancshares, Inc. announced a leadership transition as part of its long-term succession planning. Effective July 1, 2026, Matthew K. Smith, current President, will become Chief Executive Officer and President and join the Board of Directors. Joseph R. Dively, Chairman and CEO, will transition to Executive Chairman, continuing to lead board strategy, governance, oversight, and M&A strategy. Smith has been instrumental in the company's growth from $2.8 billion to $9.3 billion in assets since joining in 2016.

First Mid Bancshares, Inc. reported strong financial results for Q1 2026, with net income of $26.3 million and diluted EPS of $1.06. The company successfully closed the acquisition of Two Rivers Financial Group, Inc. on February 28, 2026, adding $871.4 million in loans and $1.04 billion in deposits. The integration is progressing as expected, contributing to record quarterly earnings and expanding the company's footprint into Iowa.

First Mid Bancshares, Inc. has secured new financing totaling $35.0 million from Bankers' Bank. This includes a $15.0 million revolving line of credit, maturing in April 2027, and a $20.0 million term loan, due in April 2029. The new facilities provide the company with additional liquidity, with interest rates tied to the Wall Street Journal Prime Rate and SOFR, respectively.