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First Mid Bancshares Executive Compensation (FY25)

FMBH · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Joseph Dively
Latest say-on-pay support
=
April 29, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 21, 2026Latest filing (8-K): May 1, 2026
7 filings cited on this page
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199 figures on this page: 195 cited to the filing that reported them, 4 calculated from figures it prints. See the citations

More on First Mid Bancshares

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Joseph Dively: $1,604,008 → $2,109,337 (31.5% higher)
CEO pay ratio: 36:1 → 44:1 (22.2% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is First Mid Bancshares' chief executive and what were they paid?
Joseph Dively was paid $2,109,337 in total compensation as Chairman & Chief Executive Officer for fiscal 2025. Compared with the $1,604,008 reported for fiscal 2024, Dively's total was 31.5% higher.
What was First Mid Bancshares' say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 97.3% of votes cast for or against in favor at the meeting held April 29, 2026.
Which companies are in First Mid Bancshares' peer group?
The disclosed peer group includes 1st Source Corporation, Alerus Financial Corporation, Byline Bancorp, Inc., Community Trust Bancorp, Inc. and Equity Bancshares, Inc., among others.
What is First Mid Bancshares' chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 44:1, against median employee compensation of $48,485.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph Dively
Chairman, President & Chief Executive Officer
◇—◇—◇—◇◇
Michael Taylor
Sr Executive Vice President & Chief Operating Officer
◇—◇—◇—◇◇
Eric McRae
Executive Vice President & Chief Lending Officer
◇—◇—◇—◇◇
Bradley Beesley
Executive Vice President & Chief Wealth Mgmt Officer
◇—◇—◇—◇◇
Matthew Smith
Executive Vice President & Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph Dively
Chairman, President & Chief Executive Officer
◇—◇—◇—◇◇
Bradley Beesley
Executive Vice President & Chief Wealth Mgmt Officer
◇—◇—◇—◇◇
Michael Taylor
Sr Executive Vice President & Chief Operating Officer
◇—◇—◇—◇◇
Eric McRae
Executive Vice President & Chief Lending Officer
◇—◇—◇—◇◇
Matthew Smith
Executive Vice President & Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph Dively
Chairman, President & Chief Executive Officer
◇—◇—◇—◇◇
Bradley Beesley
Executive Vice President & Chief Wealth Management Officer
◇—◇—◇—◇◇
Michael Taylor
Senior Executive Vice President & Chief Operating Officer
◇—◇—◇—◇◇
Matthew Smith
Executive Vice President & Chief Financial Officer
◇—◇—◇—◇◇
Eric McRae
Executive Vice President & Chief Lending Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph Dively
Chairman & Chief Executive Officer
◇—◇—◇—◇◇
Matthew Smith
President
◇—◇—◇—◇◇
Michael Taylor
Executive Vice President
◇—◇—◇—◇◇
Jordan Read
Executive Vice President
◇—◇—◇—◇◇
Eric McRae
Executive Vice President
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Eric S. McRaePSU◇◇◇—◇—◇
Jordan D. ReadPSU◇◇◇—◇—◇
Joseph R. DivelyPSU◇◇◇—◇—◇
Matthew K. SmithPSU◇◇◇—◇—◇
Michael L. TaylorPSU◇◇◇—◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Joseph DivelyPSU◇◇——
Matthew SmithPSU◇◇——
Michael TaylorPSU◇◇——
Eric McRaePSU◇◇——
Jordan ReadPSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Joseph Dively
Chairman & Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-compete period◇
Non-solicit period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Holly B. Adams
Lead independent director
◇◇————◇
Robert S. Cook
◇◇————◇
Mary J. Westerhold
◇◇————◇
James E. Zimmer
◇◇————◇
J. Kyle McCurry
◇◇————◇
Gisele A. Marcus
◇◇————◇
Paul L. Palmby
◇◇————◇
Zachary I. Horn
◇◇————◇
Alex J. Melvin
◇◇————◇
Joseph R. Dively served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • 1st Source Corporation SRCE
  • Alerus Financial Corporation ALRS
  • Byline Bancorp, Inc. BY
  • Community Trust Bancorp, Inc. CTBI
  • Equity Bancshares, Inc. EQBK
  • Farmers National Banc Corp. FMNB
  • FB Financial Corporation FBK
  • First Commonwealth Financial Corporation FCF
  • First Financial Corporation THFF
  • FirstSun Capital Bancorp FSUN
  • German American Bancorp, Inc. GABC
  • Great Southern Bancorp, Inc. GSBC
  • HBT Financial, Inc. HBT
  • Horizon Bancorp HBNC
  • Independent Bank Corporation IBCP
  • Lakeland Financial Corporation LKFN
  • Mercantile Bank Corporation MBWM
  • Midland States Bancorp, Inc. MSBI
  • Midwest One Financial Group, Inc. symbol not shown
  • Nicolet Bankshares, Inc. NIC
  • Old Second Bancorp, Inc. OSBC
  • Park National Corporation PRK
  • Peoples Bancorp, Inc. PEBO
  • QCR Holdings, Inc. QCRH
  • Republic Bancorp, Inc. RBCAA
  • Stock Yards Bancorp, Inc. SYBT

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 29, 2026=◇◇◇
2022April 26, 2023=◇◇◇
2019April 29, 2020=◇◇◇
2016April 26, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Joseph Dively (Chairman & Chief Executive Officer), FY2025 total compensation $2,109,337 (base salary $543,400) [exec_comp, SEC accession 0001193125-26-109951, filed 2026-03-17]

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What this page does not include

Everything above is a fact First Mid Bancshares disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where First Mid Bancshares sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
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Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
199 figures on this page: 195 cited to the filing that reported them, 4 calculated from figures it prints.
195 cited to the filing
4 calculated from the filing

Documents cited

  1. 0001171843-26-002932
    Proposal 2: Advisory Vote on Executive Compensation.
  2. 0001193125-26-109951
    Compensation Discussion and Analysis
  3. 0000950170-25-040920
    SUMMARY COMPENSATION TABLE
  4. 0000950170-24-031929
  5. 0001171843-23-002720
  6. 0000700565-20-000020
  7. 0000700565-17-000027
Cite this data
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Velarion, “First Mid Bancshares executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/FMBH (accessed 2026).
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The paid brief for First Mid Bancshares

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
Get the executive briefGet the board briefNo account needed.
7 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Peers First Mid Bancshares discloses

The companies named in FMBH's own disclosed peer group.

1st Source CorporationAlerus Financial CorporationByline Bancorp, Inc.Community Trust Bancorp, Inc.Equity Bancshares, Inc.Farmers National Banc Corp.FB Financial CorporationFirst Commonwealth Financial CorporationFirst Financial CorporationFirstSun Capital BancorpGerman American Bancorp, Inc.Great Southern Bancorp, Inc.HBT Financial, Inc.Horizon BancorpIndependent Bank CorporationLakeland Financial CorporationMercantile Bank CorporationMidland States Bancorp, Inc.Nicolet Bankshares, Inc.Old Second Bancorp, Inc.Park National CorporationPeoples Bancorp, Inc.QCR Holdings, Inc.Republic Bancorp, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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