First Mid Bancshares entered into a new promissory note with Bankers' Bank for $19.7 million to refinance existing debt. The fixed-rate note bears interest at 6.125% and requires 38 monthly payments of $161,204.52 starting July 28, 2026, followed by a balloon payment due September 28, 2029. The note may be prepaid without penalty and is secured by a negative pledge and assignment on 100% of the stock of First Mid Bank & Trust. Management expects the refinancing to support balance sheet flexibility.
Agreement details:
- Agreement type: Secured promissory note under existing business loan agreement
- Counterparty: Bankers' Bank
- Signed / Effective: Jul 10 2026 / same
- Duration / Termination: Through Sep 28 2029
- Reason: Refinance existing debt and enhance liquidity
Original SEC Filing:
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