First Mid Bank & Trust, National Association: SBA business acquisition lending record
First Mid Bank & Trust, National Association (home state IL) approved 54 SBA 7(a) loans to buy existing businesses since FY2018, totaling $30.2M. The median loan was $306,000. It ranks number 163 of 280 lenders by count and made 0.1% of all SBA acquisition loans nationally.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $201,100 and $482,150. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. Illinois is the largest state (78% of loans). Loans appear in only 5 states, which points to a regional lender.
- Industry concentration. Limited-Service Restaurants is 11% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 229 SBA 7(a) loans of any purpose since FY2020, totaling $106M. 28% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 9% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 3.2% charged off, 8% lower than the 3.5% national average.
First Mid Bank & Trust, National Association acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 11 | $7.4M | $291,000 | |
| FY2019 | 7 | $4.2M | $200,800 | |
| FY2020 | 8 | $2.9M | $225,750 | |
| FY2021 | 5 | $1.9M | $310,500 | |
| FY2022 | 12 | $6.4M | $314,250 | |
| FY2023 | 2 | $1.1M | $528,800 | |
| FY2024 | 4 | $1.4M | $335,000 | |
| FY2025 | 3 | $1.1M | $360,000 | |
| FY2026 | 2 | $3.9M | $1,927,750 |
How often do these acquisition loans fail?
Of the 31 First Mid Bank & Trust, National Association acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 1 have been charged off by the SBA, a rate of 3.2% by loan count and 0.3% by dollars. 14 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so First Mid Bank & Trust, National Association is 8% lower than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
States served
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 6 | 11.1% | $2.1M | |
| 2 | Plumbing, Heating, and Air-Conditioning Contractors | 4 | 7.4% | $3.1M | |
| 3 | Full-Service Restaurants | 4 | 7.4% | $2.4M | |
| 4 | Child Care Services | 3 | 5.6% | $4.3M | |
| 5 | Offices of Certified Public Accountants | 3 | 5.6% | $701K | |
| 6 | Car Washes | 2 | 3.7% | $3.5M | |
| 7 | Automotive Body, Paint, and Interior Repair and Maintenance | 2 | 3.7% | $1.1M | |
| 8 | Other Building Finishing Contractors | 2 | 3.7% | $970K | |
| 9 | Offices of Chiropractors | 2 | 3.7% | $586K | |
| 10 | Couriers and Express Delivery Services | 2 | 3.7% | $572K |
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Papa Murphy's Take 'N' Bake Pizza | 3 | 5.6% | $1.4M | |
| 2 | Subway | 1 | 1.9% | $833K | |
| 3 | Rainbow Restoration | 1 | 1.9% | $470K |
Questions buyers ask
Does First Mid Bank & Trust, National Association make SBA acquisition loans?
Yes. First Mid Bank & Trust, National Association approved 54 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 163 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are First Mid Bank & Trust, National Association's acquisition loans?
The median was $306,000, with the middle half between $201,100 and $482,150. The national median is $645,250, so this lender's typical loan is 53% lower than the national figure.
Which states does First Mid Bank & Trust, National Association lend in?
Illinois (42), Iowa (5), Texas (4), Indiana (2), Missouri (1). Its loans appear in 5 states, so it is closer to a regional lender.
Which industries does First Mid Bank & Trust, National Association finance?
Limited-Service Restaurants (6), Plumbing, Heating, and Air-Conditioning Contractors (4), Full-Service Restaurants (4), Child Care Services (3), Offices of Certified Public Accountants (3). The top industry is 11% of its acquisition loans.
How have First Mid Bank & Trust, National Association's acquisition loans performed?
Of 31 loans approved FY2018 to FY2021: 3.2% charged off, 8% lower than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
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Related
- Illinois acquisitions
- Iowa acquisitions
- Texas acquisitions
- Limited-Service Restaurants
- Plumbing, Heating, and Air-Conditioning Contractors
- Full-Service Restaurants
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First Mid Bank & Trust, National Association.