Business Combinations (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table summarizes the estimated fair values of assets acquired and liabilities assumed at the date of acquisition (in thousands).



	Acquired Book Value		Fair Value Adjustments			As Recorded by First Mid Bank
Assets
Cash	279,468		—			279,468
Loans	155,774		(3,377		)	152,397
Premises and equipment	4,547		(125		)	4,422
Goodwill	—		14,015			14,015
Core deposit intangible	—		6,216			6,216
Other assets	1,433		—			1,433
Total assets acquired	$	441,222	$	16,729		$	457,951
Liabilities
Deposits	$	452,810	$	837		$	453,647
Securities sold under agreements to repurchase	3,797		—			3,797
Other liabilities	507		—			507
Total liabilities assumed	$	457,114	$	837		$	457,951

Business Acquisition, Pro Forma Information [Table Text Block]

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 acquisition taken place at the beginning of the period (in thousands):



	Three months ended				Nine months ended
	September 30,				September 30,
	2015		2014		2015		2014
Net interest income	$	16,953	$	15,842	$	47,627	$	45,685
Provision for loan losses	522		96		1,012		651
Non-interest income	6,811		6,283		19,750		19,515
Non-interest expense	15,615		14,178		42,873		42,524
Income before income taxes	7,627		7,851		23,492		22,025
Income tax expense	2,674		2,909		8,384		8,167
Net income	$	4,953	$	4,942	$	15,108	$	13,858
Dividends on preferred shares	550		1,105		1,650		3,313
Net income available to common stockholders	$	4,403	$	3,837	$	13,458	$	10,545

Earnings per share
Basic	$	0.52	$	0.65	$	1.78	$	1.79
Diluted	$	0.51	$	0.59	$	1.69	$	1.65

Basic weighted average shares outstanding	8,421,397		5,881,681		7,553,468		5,881,973
Diluted weighted average shares outstanding	9,784,533		8,386,142		8,916,604		8,386,507

The unaudited pro forma condensed combined financial statements do not reflect any anticipated cost savings and revenue enhancements. Accordingly, the pro forma results of operations of the Company as of and after the business combination may not be indicative of the results that actually would have occurred if the combination had been in effect during the periods presented or of the results that may be attained in the future.