First Mid-Illinois Bank & Trust

What First Mid-Illinois Bank & Trust does

First Mid-Illinois Bank & Trust is the operating bank subsidiary of First Mid Bancshares, Inc. (NASDAQ: FMBH), a publicly traded regional bank holding company founded in 1865 and headquartered in Mattoon, Illinois. The company operates as a full-service community bank with approximately $9.1 billion in total assets following the March 2026 acquisition of Two Rivers Financial Group, serving individual consumers, businesses, agricultural operators, homebuyers, and wealth management clients across Illinois, Iowa, Missouri, Texas, and Wisconsin. Its customer base is segmented across five primary use cases: personal banking (checking, savings, mortgages, auto loans, credit cards via Elan Financial Services), business and commercial banking (lending, treasury management, SBA loans), agricultural lending, mortgage origination, and wealth management (delivered through a Raymond James partnership).

The product portfolio spans roughly 35 named products including core deposit products (Benefits Checking, Jumbo Money Market, CDs, IRAs, HSAs), consumer and mortgage lending (conventional, FHA, VA, Rural Development, home equity), specialty commercial lending (SBA, ag, healthcare, municipal, campground, accounts receivable, agency financing), treasury management, and insurance through First Mid Insurance Group. Digital channels are built on a Fiserv-powered mobile and online banking platform with integrated digital wallet support (Apple Pay, Google Pay, Samsung Pay, FitBit Pay, Visa SRC), Zelle P2P payments, mobile deposit via ProfitStars, and bill pay through RemitPlus Express.

Revenue is generated primarily through net interest income (3.80% NIM in Q3 2025) on loans and securities, supplemented by deposit fees, interchange income from Visa debit/credit transactions, wealth management fees routed through Raymond James, and insurance commissions. Pricing follows a tiered subscription model with relationship-based fee waivers (e.g., $8 Benefits Checking fee waived at $2,500 minimum daily balance or $25,000 total deposits) and unit pricing on basic accounts. Distribution relies on a physical branch network, proprietary ATMs with 5:00 p.m. deposit cutoff, the mobile app, online banking, and telephone banking. The go-to-market is relationship-led and community-anchored, targeting retail, small business, agricultural, and middle-market customers through local decision-making and full-service delivery.

Name

First Mid-Illinois Bank & Trust

Legal name

First Mid Bancshares, Inc.

Website

https://firstmid.com

Company type

Public

Founded year

1865

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

First Mid Bancshares (NASDAQ: FMBH) is an Illinois-based community bank holding company operating First Mid Bank & Trust, with approximately $9.1 billion in total assets serving consumers, businesses, agricultural operators, and wealth management clients across Illinois, Iowa, Missouri, Texas, and Wisconsin through branches and Fiserv-powered digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (522180), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

State Commercial Banks (6022), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industries

Liquidity & Cash Concentration (Sweeping, pooling, notional pooling) (FSABAIAC), Private Banking Lending (Securities-Backed, Real Estate, Structured Credit) (FSABADAE), Virtual / Digital-First Credit Cards (FSAKABAK)

Keywords

• Community banking services
• Commercial lending solutions
• Consumer mortgage loans
• Agricultural lending finance
• Wealth management trust services

Headquarters

HQ city

Mattoon

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue from interest earned on loans including commercial loans, mortgages, auto loans, agricultural loans, and consumer loans. Net interest margin reported at 3.80% in Q3 2025.
2. Deposit Fees and Charges: Monthly maintenance fees, paper statement fees, overdraft fees, ATM fees, and other account-related charges.
3. Card Transaction Fees: Interchange income from debit and credit card transactions processed through Visa network.
4. Wealth Management and Trust Services: Financial planning, investment management, and trust services offered through Raymond James partnership. Securities offered through Raymond James Financial Services, Inc. member FINRA/SIPC.
5. Insurance Services: Insurance products and services offered through First Mid Insurance Group, a wholly-owned subsidiary of First Mid Bancshares, Inc.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

First Mid-Illinois Bank & Trust provides full-service community banking including personal and business deposit accounts, consumer and commercial lending, mortgage origination, agricultural financing, insurance, and wealth management. The institution operates physical branches across Illinois and Iowa complemented by a Fiserv-powered digital banking platform including mobile and online channels.

Product overview

First Mid-Illinois Bank & Trust operates as a full-service regional bank offering a unified but multi-channel banking platform with personal banking, commercial banking, mortgage lending, insurance, and wealth management divisions. The core banking products include checking, savings, money market, and certificate of deposit accounts, complemented by lending products spanning mortgages, home equity, auto loans, and commercial credit facilities. Digital banking services are delivered through a Fiserv-powered online and mobile banking platform. The bank's specialty lending includes SBA loans, agricultural lending, healthcare financing, campground financing, and municipal financing. Wealth management services are delivered through First Mid Wealth Management in partnership with Raymond James, offering trust services, investment management, and retirement planning. The bank maintains two affiliate divisions: First Mid Insurance Group for insurance products and First Mid AG Services for agricultural services. Recent acquisitions include Two Rivers Financial Group (2026) expanding the bank's presence in Iowa with approximately $1.2 billion in assets.

Differentiator

Problem solved

Functional benefit

Brands

• First Mid Insurance Group: Insurance products and services offered through First Mid Insurance Group, a wholly-owned subsidiary of First Mid Bancshares, Inc.
• First Mid Wealth Management
• First Mid AG Services

Products and services

• Personal Checking
• Benefits Checking
• Personal Savings
• Jumbo Money Market
• Certificate of Deposit (CD)
• Individual Retirement Account (IRA)
• Health Savings Account (HSA)
• Mortgages
• Home Equity Loans
• Auto & Consumer Loans
• Debit Card
• Credit Card
• Online and Mobile Banking
• Business Checking
• Commercial Lending
• SBA Loans
• Ag Lending
• Treasury Management
• Wealth Management
• First Mid Insurance Group
• First Mid AG Services

Quantifiable outcome

• Net interest margin expansion to 3.80%
• +2 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

AI capability2 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• Raymond James Financial ServicescoreStrategic or Co-development PartnerSecurities and investment advisory services offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Raymond James financial advisors provide investment management, financial planning, and retirement services to First Mid Wealth Management clients. This partnership enables First Mid to offer comprehensive wealth management alongside its banking services.
• FiservcoreTechnology or IntegrationFirst Mid Bank & Trust Mobile app is powered by Fiserv, providing mobile banking capabilities including real-time balances, transfers, bill pay, mobile deposits, and Zelle integration. Fiserv provides the technological infrastructure for the bank's digital banking services.
• VisacoreTechnology or IntegrationFirst Mid debit cards operate on the Visa network, providing widespread acceptance at merchants worldwide and access to Visa's Zero Liability protection for unauthorized transactions.
• ZellecoreTechnology or IntegrationIntegrated P2P payment service allowing First Mid customers to send money to friends and family using phone numbers or email addresses.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• First Merchants Corporation: Indiana-based Midwestern community bank of comparable size with similar commercial, ag, and wealth management services. Comparable asset size and business mix.
• Wintrust Financial Corporation: Chicago-area community banking franchise with specialty lending verticals, premium deposit products, wealth management, and similar relationship-led model. Directly comparable in product mix though significantly larger.
• First Busey Corporation: Illinois-headquartered community bank with similar personal, commercial, and wealth management offerings, including ag lending exposure. Operates in many of the same Illinois/Iowa markets as First Mid post-Two Rivers.
• Byline Bancorp: Chicago-based community bank with similar size range, commercial and small business lending focus, and growth-via-acquisition strategy. Overlapping Illinois market presence.
• Old National Bancorp: Midwest-based super-community bank operating across Illinois, Indiana, Kentucky, and surrounding states with similar deposit-gathering, commercial lending, and wealth management franchises. Closely comparable business mix to First Mid, though materially larger in scale.
• Banner Corporation: Pacific Northwest community bank with similar commercial, ag, and mortgage focus. Comparable size and growth-via-acquisition profile, though geographically distinct.
• German American Bancorp: Indiana and Kentucky community bank with comparable commercial, ag, and wealth management lines, similar asset size range (~$5–7B), and overlapping Midwest geographic footprint. Closely aligned in operating model.
• Lakeland Financial Corporation: Indiana-headquartered community bank with comparable community banking model, ag lending, and treasury management. Similar scale, profitability, and Midwest geographic positioning.
• Heartland Financial USA / Glacier Bancorp: Multi-state community bank holding company with similar acquisition-driven growth strategy and comparable community banking, ag lending, and wealth management products across the Midwest.

Broad incumbents

• JPMorgan Chase (Community Banking / Midwest branches): Large national banking incumbent with significant branch presence in Illinois and across the Midwest. Competes head-to-head with First Mid on deposits, mortgages, and small business banking, though from a vastly larger scale and broader product set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights8 records

Customer concentration

• Facebookfacebook.com/firstmidbank
• LinkedInlinkedin.com/company/first-mid
• Instagraminstagram.com/firstmidbank
• Xx.com/firstmidbank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Mid-Illinois Bank & Trust