First Mid Bancshares, Inc. - Common Stock (FMBH)

Competitors to First Mid Bancshares, Inc. - Common Stock (FMBH)

Central Bancompany, Inc.

Central Bancompany, Inc. operates a network of community banks across Missouri and neighboring states, resembling First Mid Bancshares' operational model. Both companies emphasize community engagement and personalized customer service. However, Central Bancompany's larger scale and diversified banking services, including specialized services for commercial clients, provide it an edge in attracting business customers, which is crucial for growth in the competitive banking landscape. First Mid may compete effectively on customer service, but Central Bancompany's breadth of services puts it in a stronger market position.

Hancock Whitney Corporation

Hancock Whitney Corporation and First Mid Bancshares, Inc. compete primarily in the regional banking sector of the United States. Both institutions focus on offering similar financial products and services such as personal and commercial banking, wealth management, and mortgage services. Hancock Whitney has a stronger presence in Louisiana, Mississippi, Alabama, and Florida, which gives it competitive advantage in those markets. Additionally, its robust wealth management division allows it to attract high-net-worth clients, making it a formidable competitor against First Mid, which has a more centralized footprint in Illinois and neighboring states.

Heartland Financial USA, Inc. 

Heartland Financial USA, Inc. competes directly with First Mid Bancshares by offering a broad range of banking services throughout its network of community banks in the Midwest and Western United States. Both institutions are committed to the community banking model, but Heartland has expanded across multiple states and has a more diversified regional presence. Their ability to provide a wider array of financial products, alongside their focus on leveraging technology for improved customer engagement, allows Heartland to maintain a competitive advantage over First Mid in attracting younger, tech-savvy customers.

Old Second Bancorp, Inc. 

Old Second Bancorp, Inc. shares a similar market focus with First Mid Bancshares in providing community banking services. Both companies cater primarily to retail clients and small to mid-sized businesses. However, Old Second's long-standing reputation and established presence in the Illinois market give it a slight edge in brand recognition among consumers. Furthermore, Old Second has invested in digital banking infrastructure, making it a strong competitor in the evolving landscape of banking, where technology plays a crucial role in customer retention and acquisition compared to First Mid.

Peoples Bancorp Inc. 

Peoples Bancorp Inc. primarily serves Ohio and West Virginia, competing with First Mid Bancshares in the regional banking space. Both organizations prioritize community banking and local customer relationships. However, Peoples Bancorp has displayed aggressive growth through strategic acquisitions, allowing it to scale more rapidly than First Mid. This growth enhances their product offerings and operational efficiencies, providing a competitive advantage in attracting a broader customer base. While First Mid excels in its established markets, Peoples Bancorp's expansion efforts position it for future growth in the region, posing a competitive challenge.