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First Mid Bancshares, Inc. (NASDAQ:FMBH), a financial holding company with a market capitalization of $888 million based in Mattoon, Illinois, announced on Friday, May 16, 2025, an increase in its authorized shares of common stock. The amendment to the company’s Restated Certificate of Incorporation was approved by stockholders at the Annual Meeting on April 30, 2025, raising the number of authorized shares from 30 million to 45 million.
The change was filed with the Secretary of State of Delaware on May 12, 2025, and became effective immediately. Following this amendment, the company also filed a restatement of its Certificate of Incorporation to include this and all prior amendments, which also took effect upon filing on May 12, 2025.
This development was disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission, which also included complete copies of the Amendment and the Restated Certificate of Incorporation as exhibits.
First Mid Bancshares, Inc. operates as a financial holding company and is incorporated in Delaware with its executive offices located in Mattoon, Illinois. The company’s common stock is traded on The Nasdaq Global Market under the symbol "FMBH."
The information regarding these corporate changes is based on the company’s recent SEC filing.
In other recent news, First Mid Bancshares, Inc. reported several significant updates affecting its operations and strategic initiatives. The company announced an amendment to its stock incentive plan, increasing the available shares for issuance to 1,000,000 and extending the plan’s term to January 21, 2035. This development was approved at the annual stockholders meeting, which also saw an increase in authorized common stock from 30,000,000 to 45,000,000 shares. Additionally, First Mid Bancshares secured an extension of its $15 million revolving credit facility with The Northern Trust (NASDAQ:NTRS) Company, extending the maturity date to April 3, 2026.
In the financial sphere, Stephens analyst Terry McEvoy adjusted the price target for First Mid Bancshares to $41.00, down from $43.00, while maintaining an Equal Weight rating. This revision followed the company’s first-quarter performance, which exceeded expectations in net interest income and loan balances but faced challenges in fee income. The bank’s net interest margin stood at 3.60%, surpassing Stephens’ estimate of 3.44%. Furthermore, First Mid Bancshares is actively exploring acquisition opportunities and has successfully converted its retail online systems, paving the way for future branch consolidations.
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