First Mid Bancshares, Inc.

Item 1.01 Entry into a Material Definitive Agreement. On July 10, 2026, First Mid Bancshares, Inc. (the “Company”) executed a Promissory Note with Bankers’ Bank (the “Lender”), in the original principal amount of $19,709,626.03 (the “Note”). The Note was issued pursuant to the Company’s existing Business Loan Agreement with the Lender, which was previously disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on April 15, 2026. The Note bears interest at a fixed rate of 6.125% per annum, calculated on a 365/360 basis. The Company is required to make 38 regular monthly payments of $161,204.52, beginning July 28, 2026, followed by an estimated final balloon payment of $17,313,274.55 due on September 28, 2029, at which time all unpaid principal and accrued interest will be due and payable. The Note may be prepaid in whole or in part without penalty. The Note refinances, and does not satisfy or discharge, a prior note dated September 28, 2022, which the Company assumed and which was previously disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on March 2, 2026. The Note is secured by a Negative Pledge and Negative Assignment Agreement, dated July 10, 2026, between the Company and Lender, with respect to 100% of the issued and outstanding capital stock of First Mid Bank & Trust, National Association, the Company’s wholly owned bank subsidiary. The foregoing description of the Note does not purport to be complete and is qualified in its entirety by reference to the full text of the Note, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.