FIRST MID BANCSHARES, INC. Earnings Per Share Disclosure
Note 2 -- Earnings Per Share
Basic net income per common share available to common stockholders is calculated as net income less preferred stock dividends divided by the weighted average number of common shares outstanding. Diluted net income per common share available to common stockholders is computed using the weighted average number of common shares outstanding, increased by the assumed conversion of the Company’s convertible preferred stock and the Company’s stock options and restricted stock awarded, unless anti-dilutive.
The components of basic and diluted net income per common share available to common stockholders for the years ended December 31, 2025, 2024, and 2023 were as follows:
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2025 |
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2024 |
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2023 |
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Basic net income per common share available to common stockholders: |
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Net income available to common stockholders |
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$ |
91,749,000 |
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$ |
78,898,000 |
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$ |
68,935,000 |
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Weighted average common shares outstanding |
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23,873,495 |
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23,800,523 |
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21,780,217 |
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Basic earnings per common share |
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$ |
3.84 |
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$ |
3.31 |
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$ |
3.17 |
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Diluted net income per common share available to common stockholders: |
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Net income available to common stockholders |
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$ |
91,749,000 |
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|
$ |
78,898,000 |
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$ |
68,935,000 |
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Weighted average common shares outstanding |
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23,873,495 |
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23,800,523 |
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21,780,217 |
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Dilutive potential common shares: |
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Restricted stock awarded |
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113,013 |
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95,158 |
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88,571 |
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Dilutive potential common shares |
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113,013 |
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|
95,158 |
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|
88,571 |
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Diluted weighted average common shares outstanding |
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23,986,508 |
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23,895,681 |
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21,868,788 |
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Diluted earnings per common share |
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$ |
3.83 |
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$ |
3.30 |
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$ |
3.15 |
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There were no shares not considered in computing diluted earnings per share for the years ended December 31, 2025, 2024, and 2023.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Mar 6, 2024 | |
| 2022 | Mar 3, 2023 | |
| 2021 | Mar 2, 2022 | |
| 2020 | Mar 8, 2021 | |
| 2019 | Mar 9, 2020 | |
| 2018 | Mar 5, 2019 | |
| 2017 | Mar 2, 2018 | |
| 2016 | Mar 6, 2017 | |
| 2015 | Mar 4, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.