This is a routine debt refinancing with no change in overall leverage or new capital. Monitor upcoming quarterly filings for any shift in the company's debt profile or interest expense. No immediate trading action warranted.
Price Chart
Executive Summary
First Mid Bancshares executed a $19.7M promissory note with Bankers' Bank to refinance an existing September 2022 note. The 3-year fixed-rate note at 6.125% carries a balloon payment due September 2029 and is secured by a negative pledge on the bank subsidiary's stock. This is a routine refinancing of existing debt with no change in overall leverage or new cash raised.
Key Facts
- Principal amount of $19,709,626.03
- Fixed interest rate of 6.125% per annum on a 365/360 basis
- 38 monthly payments of $161,204.52 followed by a balloon payment of ~$17.3M due September 28, 2029
- Secured by a Negative Pledge and Negative Assignment Agreement on 100% of the capital stock of First Mid Bank & Trust, N.A.
- Refinances a prior note dated September 28, 2022, without satisfying or discharging it
Financial Impact
Routine refinancing of ~$19.7M in existing debt; no material change in total debt or interest expense relative to the prior note
Risk Factors
- Refinancing at 6.125% may be at a higher rate than the prior note, increasing interest expense modestly
- Balloon payment in 2029 creates refinancing risk if credit conditions tighten
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001171843-26-004658 |
| Document: f8k_071526.htm | 0001171843-26-004658 |
| Document: 0001171843-26-004658-index-headers.html | 0001171843-26-004658 |
| Document: 0001171843-26-004658-index.html | 0001171843-26-004658 |
| Document: 0001171843-26-004658.txt | 0001171843-26-004658 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | 8-K | $49.26 | awaiting T+60 | — | $50.74 (+3.00%) |
Oct 16, 2026 10d ago | SC 13D/A | $49.73 | awaiting T+60 | — | $50.74 (+2.03%) |
Jul 23, 2026 13w ago | 8-K | $50.05 $49.29 | ▼ −1.52% | ▼ −6.07% | $50.74 (+1.38%) |
Jul 15, 2026 14w ago | 8-K | $48.77 $49.24 | ▲ +0.96% | ▼ −1.57% | $50.74 (+4.04%) |
Apr 29, 2026 25w ago | 8-K | $41.84 $51.16 | ▲ +22.27% | ▲ +19.16% | $50.74 (+21.27%) |
Apr 29, 2026 25w ago | Press Release | $41.84 $51.16 | ▲ +22.27% | ▲ +19.16% | $50.74 (+21.27%) |
Apr 29, 2026 25w ago | 8-K | $41.84 $51.16 | ▲ +22.27% | ▲ +19.16% | $50.74 (+21.27%) |
Apr 15, 2026 27w ago | 8-K | $43.47 $47.93 | ▲ +10.26% | ▲ +2.12% | $50.74 (+16.72%) |
Mar 17, 2026 31w ago | DEFA14A | $39.38 $45.67 | ▲ +15.97% | ▲ +6.11% | $50.74 (+28.85%) |
Mar 2, 2026 34w ago | Press Release | $41.50 $44.29 | ▲ +6.72% | ▼ −2.60% | $50.74 (+22.27%) |
US Market Status
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