fmbh11k123114


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
___________________________
 
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PALNS PURSUANT TO SECTION 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
       For the fiscal year ended December 31, 2014
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _____________ to ______________
 
Commission file number: 0-13368
 
 
FIRST MID-ILLINOIS BANCSHARES, INC.
401 (k) PROFIT SHARING PLAN
(Full Title of Plan)
 
 
FIRST MID-ILLINOIS BANCSHARES, INC.
1421 Charleston Avenue
P.O. Box 499
Mattoon, Illinois 61938
(Name of Issuer of the Securities Held Pursuant to the Plan
and the Address of the Principal Executive Office)
 










First Mid-Illinois Bancshares, Inc.
 401 (k) Profit Sharing Plan
 
EIN 37-0404035 PN 002
 Report of Independent Registered Public Accounting Firm
and Financial Statements
 December 31, 2014 and 2013






First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
December 31, 2014 and 2013



Contents
 
 
 
 
 
Report of Independent Registered Public Accounting Firm
1

 
 
 
 
Financial Statements
 
 
   Statements of Net Assets Available for Benefits
2

 
   Statements of Changes in Net Assets Available for Benefits
3

 
   Notes to Financial Statements
4

 
 
 
 
Supplemental Schedule
 
 
   Schedule H, Line 4i -- Schedule of Assets (Held at End of Year)
16

 
 
 








Report of Independent Registered Public Accounting Firm


401(k) Oversight Committee
First Mid-Illinois Bancshares, Inc. 401(k) Profit Sharing Plan
Mattoon, Illinois

 
We have audited the accompanying statements of net assets available for benefits of First Mid-Illinois Bancshares, Inc. 401(k) Profit Sharing Plan as of December 31, 2014 and 2013, and the related statements of changes in net assets available for benefits for the years then ended.  These financial statements are the responsibility of the Plan's management.  Our responsibility is to express an opinion on these financial statements based on our audits.
 
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing auditing procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. Our audits also included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

 In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of First Mid-Illinois Bancshares, Inc. 401(k) Profit Sharing Plan as of December 31, 2014 and 2013, and the changes in its net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.
 
The supplemental schedule of assets (held at end of year) (the “Supplemental Information”) has been subjected to audit procedures performed in conjunction with the audit of Plan’s financial statements.  The Supplemental Information is the responsibility of the Plan's management.  Our audit procedures included determining whether the Supplemental Information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the Supplemental Information.  In forming our opinion on the Supplemental Information, we evaluated whether the Supplemental Information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.  In our opinion, the supplemental schedule of assets (held at end of year) is fairly stated, in all material respects, in relation to the financial statements as a whole.



 
Decatur, Illinois
June 26, 2015
 









First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Statements of Net Assets Available for Benefits
December 31, 2014 and 2013

 

 
 
 
2014
 
2013
Assets
 
 
 
 
Investments, At Fair Value
 
$
44,390,103

 
$
43,298,390

Receivables
 
 

 
 

 Employer's contributions
 
2,300

 
288

Interest and dividends
 
6,254

 
9,006

Notes receivable from participants
 
602,611

 
526,443

 
 
611,165

 
535,737

Total assets
 
45,001,268

 
43,834,127

Liability
 
 

 
 

Refunds due to excess contributions
 
24,603

 
23,230

Net Assets Available for Benefits
 
$
44,976,665

 
$
43,810,897


 


See Notes to Financial Statements
























2



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Statements of Changes in Net Assets Available for Benefits
December 31, 2014 and 2013
 
 


 
 
 
2014
 
2013
Investment Income
 
 
 
 
Net appreciation (depreciation) in fair value of investments
 
$
(878,815
)
 
$
4,482,506

Interest and dividends
 
1,999,590

 
1,207,390

 
 
1,120,775

 
5,689,896

Interest Income from Notes Receivable from Participants
 
17,270

 
16,798

Contributions
 
 

 
 

Employer
 
1,127,471

 
1,092,513

Participants
 
1,278,044

 
1,251,074

Rollovers
 
399,948

 
356,950

 
 
2,805,463

 
2,700,537

Total additions
 
3,943,508

 
8,407,231

Deductions
 
 

 
 

Benefits paid to participants
 
2,771,440

 
1,160,120

Administrative expenses
 
6,300

 
4,725

Total deductions
 
2,777,740

 
1,164,845

Net Increase
 
1,165,768

 
7,242,386

Net Assets Available for Benefits, Beginning of Year
 
43,810,897

 
36,568,511

Net Assets Available for Benefits, End of Year
 
$
44,976,665

 
$
43,810,897



 

See Notes to Financial Statements




3



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Notes to Financial Statements
December 31, 2014 and 2013
 




Note 1:  
Description of the Plan
 
The following description of the First Mid-Illinois Bancshares, Inc. 401(k) Profit Sharing Plan (Plan) provides only general information.  Participants should refer to the Plan Document and Summary Plan Description for a more complete description of the Plan’s provisions, which are available from the Plan Administrator.
  
General
 
The Plan is a defined contribution plan sponsored by First Mid-Illinois Bancshares, Inc. (Company) covering all full-time employees who have at least three months of service.  The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
  
Contributions
 
The Plan permits eligible employees through a salary deferral election to have the Company make annual contributions of up to 100% of eligible compensation.  Employee rollover and employee Roth contributions are also permitted.  Employees are automatically enrolled to contribute 4% of eligible wages to the plan upon eligibility.  The Company makes matching contributions based on discretionary percentages as determined by the Company’s Board of Directors on an annual basis.  For the years ended December 31, 2014 and 2013, the matching contributions were 50% of employees’ salary deferral amounts up to 4% of employees’ eligible compensation.  The Company may also, at its sole discretion, contribute to the Plan an amount to be determined from year to year as a profit sharing contribution.  For the years ended December 31, 2014 and 2013, the profit sharing contribution was 4% of eligible compensation.  Contributions are subject to certain limitations.
 
 Participant Investment Account Options
 
Investment account options available include various funds.  Each participant has the option of directing his contributions into any of the separate investment accounts and may change the allocation daily.  The annual profit sharing contribution is maintained in a non-participant directed investment until this contribution is allocated by the Plan to the eligible participant accounts.
 
 
Participant Accounts
 
Each participant’s account is credited with the participant’s contribution, the Company’s contribution and plan earnings.  The benefits to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

4



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Notes to Financial Statements
December 31, 2014 and 2013
 

 
 

Vesting
 
Participants are immediately vested in their voluntary contributions and the Company’s matching contributions plus earnings thereon.  Vesting in the Company’s profit sharing contribution portion of their accounts plus earnings thereon is based on years of vesting service, defined as a minimum of 500 hours of service.  A participant is fully vested after 6 years of vesting service.  The nonvested balance is forfeited upon payment of benefits.  Forfeitures are allocated among active participants based upon eligible compensation.
 
 Payment of Benefits
 
Upon termination of service, an employee may elect to receive a lump-sum amount equal to the value of his account.
 
 Forfeited Accounts
 
At December 31, 2014 and 2013, forfeited nonvested accounts totaled $22,468 and $30,890, respectively.  These accounts are reallocated to participants in the same manner as employer contributions.
 
 Participant Loans
 
The Plan document includes provisions authorizing loans from the Plan to active eligible participants.  Loans are made to any eligible participant demonstrating a qualifying need.  The minimum amount of a loan shall be $1,000.  The maximum amount of a participant’s loans is determined by the available loan balance restricted to the lesser of $50,000 or 50% of the participant’s vested account balance.  All loans are covered by demand notes and are repayable over a period not to exceed five years, except for loans for the purchase of a principal residence, through payroll withholdings unless the participant is paying the loan in full.  Interest on the loans is charged at prime rate at loan inception.
 
 
Plan Termination
 
Although it has not expressed an intention to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA.  In the event of plan termination, participants will become 100% vested in their accounts.

 


5



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Notes to Financial Statements
December 31, 2014 and 2013
 




Note 2:  
Summary of Significant Accounting Policies
 
 
Basis of Accounting
 
The accompanying financial statements are prepared on the accrual basis of accounting.
  
Use of Estimates
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets and changes in net assets and disclosure of contingent assets and liabilities at the date of the financial statements.  Actual results could differ from those estimates.
  
Valuation of Investments and Income Recognition
 
Quoted market prices, if available, are used to value investments.  Common stock is valued at the closing price reported on the active market on which the individual security is traded.  Mutual funds and the money market funds are valued at the net asset value (NAV) of shares held by the plan at year end.  Certificates of deposits are valued at amortized cost, which approximates fair value.
 
Purchases and sales of securities are recorded on a settlement-date basis.  Interest and dividend income is recorded on the accrual basis.  Net appreciation (depreciation) includes the Plan’s gains and losses on investments bought and sold as well as held during the year.
  
Notes Receivable from Participants
 
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest.  Delinquent participant loans are reclassified as distributions based upon the terms of the plan document.

Plan Tax Status
 
The Plan operated under a nonstandardized adoption agreement in connection with a prototype retirement plan sponsored by Benefit Plan Consultants Inc.  This prototype plan document has been filed with the appropriate agency and a determination letter was obtained on March 31, 2008.  The Plan has not obtained or requested a determination letter.  However, the Plan Administrator believes that the Plan and related trust are currently designed and being operated in compliance with the applicable requirements of the Internal Revenue Code. The Plan is no longer subject to U.S. federal or state income tax examinations by tax authorities before 2011.


6



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Notes to Financial Statements
December 31, 2014 and 2013
 

 
 

Payment of Benefits
 
Benefit payments to participants are recorded upon distribution.
  
Administrative Expenses
 
Administrative expenses may be paid by the Company or the Plan, at the Company’s discretion.


 
Note 3:  
Investments
 
The Plan’s investments are held by a bank-administered trust fund.  The fair value of the Plan's investments at the end of the year is as follows:
 
 
 
2014
 
2013
Mutual funds
 
 
 
 
Equity funds
 
$
22,703,179

 
$
20,427,678

Balanced investment funds
 
2,345,739

 
2,293,852

Fixed-income funds
 
4,461,221

 
4,286,714

International funds
 
4,105,534

 
4,407,265

Common stock
 
5,790,680

 
7,300,335

Money market funds
 
40,555

 
59,295

Certificates of deposit
 
4,943,195

 
4,523,251

 
 
$
44,390,103

 
$
43,298,390


7



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Notes to Financial Statements
December 31, 2014 and 2013




The Plan's investments (including investments bought, sold and held during the year) appreciated (depreciated) in fair value as follows:
 
 
2014
 
2013
Mutual funds
 
 
 
 
Equity funds
 
$
310,222

 
$
4,078,987

Balanced investment funds
 
94,244

 
457,639

Fixed-income funds
 
60,482

 
(166,719
)
International funds
 
(251,696
)
 
352,495

Common stock
 
(1,092,067
)
 
(239,896
)
 
 
$
(878,815
)
 
$
4,482,506


 
The following amounts are the nonparticipant-directed investments, included in the table on page 7:
 
 
Fair Value at the End of Year
 
 
2014
 
2013
Certificate of deposit
 
$
785,183

 
$
760,347



 The fair value of individual investments that represented 5% or more of the Plan’s net assets available for benefits, in either year, is as follows:
 
 
2014
 
2013
Vanguard Growth Index - Admiral Fund
 
$
3,052,213

 
$
2,682,159

Oakmark Global I Fund
 
2,644,105

 
2,873,072

T. Rowe Price Mid-Cap Value Fund
 
3,515,265

 
3,446,442

Dodge & Cox Balanced Fund
 
2,345,739

 
2,293,852

 Vanguard 500 Index Fund - Admiral
 
3,796,351

 

First Mid-Illinois Bancshares, Inc. common stock
 
5,790,680

 
7,300,335

   First Mid-Illinois Bank & Trust certificate of deposit
 
4,943,195

 
4,523,251


 
Interest and dividends realized on the Plan’s investments for the years ended 2014 and 2013 were $1,999,590 and $1,207,390, respectively.
 

 


8



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Notes to Financial Statements
December 31, 2014 and 2013




Note 4:  
Nonparticipant-Directed Investments
 
Information about the net assets and the components of the changes in net assets relating to the nonparticipant-directed investments, is as follows:
 
 
 
2014
 
2013
Net Assets:
 
 
 
 
Certificate of deposit
 
$
785,183

 
$
760,347

 
 
 
 
 
 
 
 
 
 
Changes in net assets:
 
 

 
 

Contributions
 
$
783,594

 
$
758,152

Interest income
 
1,875

 
2,196

Transfers to participant-directed investments
 
(760,633
)
 
(738,143
)
Total additions
 
$
24,836

 
$
22,205





Note 5:  
Party-in-Interest Transactions
 
Party-in-interest transactions include those with fiduciaries or employees of the Plan, any person who provides services to the Plan, an employer whose employees are covered by the Plan, a person who owns 50 percent or more of such an employer, or relatives of such persons.
 
The Plan’s investments are held in a trust account administered by First Mid-Illinois Bank & Trust, a wholly owned subsidiary of the Company.  Active participants can purchase the common stock of the Company.  At December 31, 2014 and 2013, participants held 312,166 and 331,833 shares, respectively.
 
The Plan also holds certificates of deposit with First Mid-Illinois Bank & Trust, totaling $4,943,195 and $4,523,251 at December 31, 2014 and 2013, respectively.
 
The Plan incurs expenses related to general administration and record keeping.  The plan sponsor pays these expenses and certain accounting and auditing fees relating to the Plan. The Plan paid $6,300 and $1,575, respectively, to FIrst Mid-Illinois Bank & Trust for participant loan distribution fees.
 

 



9



Note 6:  
Disclosures About Fair Value of Plan Assets
 
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs.  There is an hierarchy of three levels of inputs that may be used to measure fair value:
 
Level 1
Quoted prices in active markets for identical assets
 
Level 2
Observable inputs other than Level 1 prices, such as quoted prices for similar assets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets
 
Level 3
Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets
 

Recurring Measurements
 
The following table presents the fair value measurements of assets recognized in the accompanying statements of net assets available for benefits measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2014 and 2013:
 
 
 
 
 
2014
 
 
 
 
Fair Value Measurements Using
 
 
Fair Value
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Common Stock of the Company
 
$
5,790,680

 
$
5,790,680

 
$

 
$

Mutual funds:
 
 

 
 

 
 

 
 

Equity funds
 
22,703,179

 
22,703,179

 

 

Balanced  investment funds
 
2,345,739

 
2,345,739

 

 

Fixed-income funds
 
4,461,221

 
4,461,221

 

 

International funds
 
4,105,534

 
4,105,534

 

 

Money market funds
 
40,555

 
40,555

 

 

Certificates of deposit
 
4,943,195

 

 

 
4,943,195

 
 
$
44,390,103

 
$
39,446,908

 
$

 
$
4,943,195



 




10



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Notes to Financial Statements
December 31, 2014 and 2013

 

 
 
 
 
 
2013
 
 
 
 
Fair Value Measurements Using
 
 
Fair Value
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
Common Stock of the Company
 
$
7,300,335

 
$
7,300,335

 
$

 
$

Mutual funds:
 
 

 
 

 
 

 
 

Equity funds
 
20,427,678

 
20,427,678

 

 

Balanced  investment funds
 
2,293,852

 
2,293,852

 

 

Fixed-income funds
 
4,286,714

 
4,286,714

 

 

International funds
 
4,407,265

 
4,407,265

 

 

Money market funds
 
59,295

 
59,295

 

 

Certificates of deposit
 
4,523,251

 

 

 
4,523,251

 
 
$
43,298,390

 
$
38,775,139

 
$

 
$
4,523,251



Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying statements of net assets available for benefits, as well as the general classification of such assets pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the year ended December 31, 2014. The Plan had no liabilities measured at fair value on a nonrecurring basis. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below.
 
 Investments
 
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy.  If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters.  Such securities are classified in Level 2 of the valuation hierarchy.  In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. Level 3 securities are certificates of deposit and are valued at amortized costs, which approximates fair value.


11



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
Notes to Financial Statements
December 31, 2014 and 2013
 

 


Level 3 Reconciliation

The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying statements of net assets available for benefits using significant unobservable (Level 3) inputs:
 
 
 
Certificates of
Deposit
Balance, January 1, 2013
 
$
4,547,353

Total interest income included in net increase in net assets available for benefits
 
22,074

Purchases
 
2,898,256

Redemptions
 
(2,944,432
)
Balance, December 31, 2013
 
$
4,523,251

Total interest income included in net increase in net assets available for benefits
 
18,004

Purchases
 
1,452,755

Redemptions
 
(1,050,815
)
Balance, December 31, 2014
 
$
4,943,195


 
Unobservable (Level 3) Inputs
 
The following table presents quantitative information about unobservable inputs used in recurring Level 3 fair value measurements.
 
 
 
 
Range
 
Fair Value at
Valuation
 
(Weighted
 
12/31/2014
Technique
Unobservable Inputs
Average)
Certificates of Deposit
$
4,943,195

Amortized cost
Contractual interest rate
0.30%-0.35% (0.325%)
 
 
 
 
 
Range
 
Fair Value at
Valuation
 
(Weighted
 
12/31/2013
Technique
Unobservable Inputs
Average)
Certificates of Deposit
$
4,523,251

Amortized cost
Contractual interest rate
0.35%-0.50% (0.425%)

 


12



Note 7:  
Risks and Uncertainties
 
The Plan invests in various investment securities.  Investment securities are exposed to various risks such as interest rate, market and credit risks.  Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the participants’ account balances and the amounts reported in the statements of net assets available for benefits.


Note 8:  
Subsequent Event
 
The plan document was restated effective January 1, 2015 to bring the plan into compliance with the Pension Protection Act of 2006 (PPA) and other legislative and regulatory changes. The Plan was further amended to be a Safe Harbor 401(k) plan.



13























Supplemental Schedule

14



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
EIN 37-0404035 PN 002
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2014

Identity of Issuer
 
Description of Investment
 
Current
 
 
 
 
 
 
 
Certificates of Deposit
 
 
 
 
 
 
First Mid-Illinois Bank & Trust*
 
0.30
%
due
12/31/15
 
$
785,183

First Mid-Illinois Bank & Trust*
 
0.30
%
due
12/31/15
 
4,158,012

 
 
 
 
 
 
4,943,195

Common Stock
 
 
 
 
 
 

First Mid-Illinois Bancshares, Inc.*
 
312,166

Shares
 
 
5,790,680

 
 
 
 
 
 
 

Mutual Funds
 
 
 
 
 
 

American Funds EuroPacific Growth Fund
 
6,442

Shares
 
 
303,334

American Funds EuroPacific Growth F-2 #616
 
29,720

Shares
 
 
1,397,455

American Funds Capital World Bond F-2 #631
 
18,875

Shares
 
 
374,104

ClearBridge Appreciation Fund
 
72,242

Shares
 
 
1,472,293

Columbia Acorn International Fund - Z
 
14,822

Shares
 
 
618,534

Dodge & Cox Balanced Fund
 
22,890

Shares
 
 
2,345,739

Dodge & Cox Income Fund #147
 
85,774

Shares
 
 
1,181,961

Eagle Small Cap Growth Fund Class I
 
10,475

Shares
 
 
574,430

Federated Total Return Bond Fund
 
70,922

Shares
 
 
782,983

Neuberger Berman Genesis
 
17,772

Shares
 
 
1,005,894

Oakmark Global I Fund
 
90,645

Shares
 
 
2,644,105

Oppenheimer Developing Markets Y
 
36,120

Shares
 
 
1,266,383

Loomis Sayles Value N
 
49,407

Shares
 
 
1,304,339

Metropolitan West Total Return Bond I
 
124,834

Shares
 
 
1,360,688

Principal High Yield
 
76,522

Shares
 
 
562,437

Principal Real Estate Securities
 
20,864

Shares
 
 
477,781

RS Global Natural Resources A
 
28,730

Shares
 
 
712,792

T. Rowe Price Blue Chip Growth Fund
 
20,971

Shares
 
 
1,410,721

T. Rowe Price Growth Stock Fund #40
 
2,086

Shares
 
 
108,375

T. Rowe Price Mid-Cap Value Fund
 
121,973

Shares
 
 
3,515,265

T. Rowe Price Small-Cap Stock Fund
 
19,704

Shares
 
 
873,265

Vanguard 500 Index Signal Shares #1340
 
19,992

Shares
 
 
3,796,351

Vanguard Balanced Index Signal Shares
 
5,344

Shares
 
 
158,598

 Vanguard Developed Markets Index Fund
 
1,744

Shares
 
 
16,430

Vanguard GNMA Fund
 
52,962

Shares
 
 
573,051

Vanguard Growth Index Admiral Fund
 
56,838

Shares
 
 
3,052,213

Vanguard Mid-Cap Index Signal Shares
 
1,205

Shares
 
 
184,368


15



First Mid-Illinois Bancshares, Inc.
401(k) Profit Sharing Plan
EIN 37-0404035 PN 002
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
(Continued)
December 31, 2014

 

Identity of Issuer
 
Description of Investment
 
Current
Vanguard Small-Cap Index Signal Shares
 
1,934

Shares
 
 
108,073

Vanguard Interm-Term Govt Bond Index
 
5

Shares
 
 
101

Vanguard Total Bond Index Signal Shares
 
6,566

Shares
 
 
71,370

Vanguard Total World Stock Index
 
3,995

Shares
 
 
97,796

     Vanguard Value Index Signal
 
8,276

Shares
 
 
272,604

Vanguard Windsor II -  Admiral
 
14,507

Shares
 
 
960,342

Vanguard Emerging Markets Stock Index
 
947

Shares
 
 
31,498

 
 
 
 
 
 
33,615,673

 
 
 
 
 
 
 
Money Market Funds
 
 
 
 
 
 
Federated Prime Obligation Funds #10
 
7,706
Units
 
 
$
7,706

Federated Prime Obligation Funds #396
 
22,468
Units
 
 
22,468

NTHN Institutional Funds Government Select
 
10,381
Units
 
 
10,381

 
 
 
 
 
 
40,555

 
 
 
 
 
 
 

Notes Receivable from Participants*
 
3.25
%
to

 
602,611

 
 
 
 
 
 
$
44,992,714


 * Represents a party-in-interest to the Plan





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SIGNATURES


THE PLAN. Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrator has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

First Mid-Illinois Bancshares, Inc.
401 (k) Profit Sharing Plan


Date: June 26, 2015


Joseph R. Dively
President and Chief Executive Officer




17



Exhibit Index to Annual Report on Form 11-K

Exhibit
Number
Description and Filing or Incorporation Reference
 
 
23
Consent of BKD, LLP
 
 


18