First Mid Bancshares, Inc. Terminates Previous Stock Repurchase Plan and Authorizes New Plan

Strategic Insights -

First Mid Bancshares, Inc., a leading financial institution, has terminated its previously authorized stock repurchase plan, effective June 30, 2025. In its place, the company's Board of Directors has authorized a new stock repurchase program, allowing for the repurchase of up to 1,200,000 shares of its issued and outstanding common stock. This new plan aims to enhance shareholder value and align with the company's financial goals.

Key Takeaways:

  • First Mid Bancshares, Inc. has terminated its previous stock repurchase plan, effective June 30, 2025.
  • A new stock repurchase program has been authorized, allowing for the repurchase of up to 1,200,000 shares of the company's issued and outstanding common stock.
  • The new program represents approximately 5% of the company's issued and outstanding shares as of June 24, 2025.
  • The repurchase program will be effective from July 1, 2025, to December 31, 2026, unless extended, modified, or terminated by further action of the Board.
  • Share repurchases may be made through various methods, including open market transactions, privately negotiated transactions, or Rule 10b5-1 trading plans.
  • Joseph R. Dively, Chairman, President, and Chief Executive Officer, has signed the report authorizing the new stock repurchase program.

Statistics:

  • Up to 1,200,000 shares of common stock may be repurchased under the new program.
  • The new program represents approximately 5% of First Mid Bancshares, Inc.'s issued and outstanding shares as of June 24, 2025.
  • The repurchase program will be effective from July 1, 2025, to December 31, 2026.

Sources:

  • United States Securities and Exchange Commission
  • First Mid Bancshares, Inc. - FORM 8-K (Current Report)
  • Securities Exchange Act of 1934
  • Rule 425 under the Securities Act (17 CFR 230.425)
  • Rule 10b5-1 trading plans