UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


                DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED):
                                OCTOBER 29, 2003


                       FIRST MID-ILLINOIS BANCSHARES, INC.
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


                                    DELAWARE
                 (STATE OR OTHER JURISDICTION OF INCORPORATION)


                               0-13368 37-1103704
           (COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.)


                    1515 CHARLESTON AVENUE, MATTOON, IL 61938
           (ADDRESS INCLUDING ZIP CODE OF PRINCIPAL EXECUTIVE OFFICES)


                                 (217) 234-7454
              (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)


Item 5.   Other Events

Incorporated  by reference is the  quarterly  shareholder  report  issued by the
Registrant on October 29, 2003,  attached as Exhibit 99,  providing  information
concerning the Registrant's financial statements as of September 30, 2003.



Item 7.   Financial Statements and Exhibits

         (c)      Exhibits

         Exhibit 99 - Quarterly shareholder report issued October 29, 2003


                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has dully  caused  this  Report  to be  signed on its  behalf by the
undersigned hereunto duly authorized.

                                         FIRST MID-ILLINOIS BANCSHARES, INC.



Dated: October 29, 2003                  By: /s/ William S. Rowland

                                             William S. Rowland
                                             President and Chief
                                             Executive Officer




                                  EXHIBIT INDEX


Exhibit
Number           Description

99               Quarterly shareholder report issued October 29, 2003





                                                                      Exhibit 99

                                                             October 29, 2003

Quarterly Report to the Owners,
First Mid-Illinois Bancshares, Inc.

Our financial  results for the first nine months of 2003 were good, with diluted
earnings per share  amounting to $2.14 per share.  This amount  represents a 21%
increase  from the $1.77 per share we  earned  during  the same  period in 2002.
Total  net  income  during  the  first  nine  months  of  2003  was  $6,877,000,
representing a 14% increase from the $6,046,000 we earned during the same period
in 2002.  Earnings  per share  increased  faster than net income  because of our
share buy-back program. Year-to-date in 2003, we have acquired 103,419 shares at
a total investment of $3,466,000. This program has proven to be an effective way
of increasing  value for  shareholders.  Any  shareholder who wishes to use this
service should contact Mrs. Christie Wright at (217) 258-0493.

Higher  non-interest  income  was the  primary  factor in the  earnings  growth.
Non-interest income increased to $9,913,000 for the first nine months of 2003 as
compared  to  $7,727,000  for the same period in 2002.  Residential  real estate
activity has continued to be strong throughout our franchise area, with mortgage
banking revenue  increasing to $1,755,000 for the first nine months of 2003 from
$1,054,000  for the same  period in 2002.  Most of the  residential  real estate
loans we originate  are sold into the  secondary  market for interest  rate risk
management  purposes.  In  addition,  growth in deposit  service  charges due to
increases in deposit  balances  and  overdraft  fees,  and  increased  insurance
commissions also contributed to the non-interest income increase.

Net interest  income declined  slightly for the first nine months,  amounting to
$19,965,000 in 2003 as compared to $20,001,000 in 2002. Loan pricing constraints
together with an extremely low interest rate  environment  resulted in a decline
in our net interest  margin from 4.18% in the first nine months of 2002 to 3.81%
for the first  nine  months of 2003.  We have  been  able to offset  the  margin
compression by increasing our loan volumes.  Loan balances have increased by $40
million since December 31, 2002,  with the growth  primarily in commercial  real
estate loans.

Our provision for loan losses  amounted to $750,000 for the first nine months of
2003 as  compared  to  $775,000  during  the same  period  last  year,  with net
charge-offs  declining to $205,000 for the first nine months of 2003 as compared
with $578,000 for the same period in 2002. Non-performing loans on September 30,
2003 were $4,766,000 as compared with $3,149,000 on December 31, 2002.

Non-interest  expenses of  $18,674,000  increased by $769,000 for the first nine
months of 2003 when compared to the same period in 2002 primarily as a result of
the  increased  costs  associated  with the locations in Champaign and Maryville
that were  opened in  November,  2002.  Both  branches  have had solid  loan and
deposit growth and are now adding to our profitability.

Thank  you for your  support  and for  your  confidence  in  First  Mid-Illinois
Bancshares, Inc.

                                         Sincerely,

                                         /s/ William S. Rowland

                                         William S. Rowland
                                         Chairman and Chief Executive Officer








Condensed Consolidated Balance Sheets
(In thousands, except share data)   (unaudited)                                             September 30,      December 31,
                                                                                                     2003              2002
                                                                                        ------------------ -----------------
                                                                                                             
Assets
Cash and due from banks                                                                          $ 23,887          $ 22,437
Federal funds sold and other interest-bearing deposits                                             15,750            47,220
Investment securities:
  Available-for-sale, at fair value                                                               167,055           166,415
  Held-to-maturity, at amortized cost (estimated fair
    value of $1,714 and $1,927 at September 30, 2003
    and December 31, 2002, respectively)                                                            1,692             1,902
Loans                                                                                             539,743           499,864
Less allowance for loan losses                                                                    (4,269)           (3,723)
  Net loans                                                                                       535,474           496,141
remises and equipment, net                                                                        16,307            16,916
Goodwill, net                                                                                       9,034             9,034
Intangible assets, net                                                                              4,166             4,743
Other assets                                                                                       10,493            11,432
                                                                                        ------------------ -----------------
  Total assets                                                                                   $783,858          $776,240
                                                                                        ================== =================

Liabilities and Stockholders' Equity
Deposits:
  Non-interest bearing                                                                           $ 90,545          $ 84,025
  Interest bearing                                                                                524,234           529,427
                                                                                        ------------------ -----------------
    Total deposits                                                                                614,779           613,452
Repurchase agreements with customers                                                               53,333            44,184
Other borrowings                                                                                   39,925            44,625
Other liabilities                                                                                   5,520             7,172
                                                                                        ------------------ -----------------
  Total liabilities                                                                              $713,557          $709,433
                                                                                        ------------------ -----------------
Stockholders' Equity:
Common stock ($4 par value; authorized 6,000,000 shares;
  Issued 3,663,610 shares in 2003 and 3,603,737 shares in 2002)                                   $14,655           $14,415
Additional paid-in capital                                                                         15,790            14,450
Retained earnings                                                                                  51,982            45,896
Deferred compensation                                                                               1,833             1,589
Accumulated other comprehensive income                                                              1,667             2,373
Treasury stock at cost, 517,981 shares in 2003 and 414,562 shares in 2002                        (15,626)          (11,916)
                                                                                        ------------------ -----------------
  Total stockholders' equity                                                                       70,301            66,807
                                                                                        ------------------ -----------------
  Total liabilities and stockholders' equity                                                     $783,858          $776,240
                                                                                        ================== =================






Condensed Consolidated Statements of Income
(In thousands)   (unaudited)
For the nine months ended September 30,                                                              2003              2002
                                                                                        ------------------ -----------------
                                                                                                             
Interest income:
Interest and fees on loans                                                                       $ 24,245          $ 25,317
Interest on investment securities                                                                   4,649             5,578
Interest on federal funds sold and other                                                              222               174
                                                                                        ------------------ -----------------
    Total interest income                                                                          29,116            31,069

Interest expense:
nterest on deposits                                                                                7,549             9,255
Interest on repurchase agreements with customers                                                      193               257
Interest on other borrowings                                                                        1,409             1,556
                                                                                        ------------------ -----------------
    Total interest expense                                                                          9,151            11,068
                                                                                        ------------------ -----------------
Net interest income                                                                                19,965            20,001
Provision for loan losses                                                                             750               775
                                                                                        ------------------ -----------------
Net interest income after provision for loan losses                                                19,215            19,226

Non-interest income:
Trust revenues                                                                                      1,444             1,398
Brokerage commissions                                                                                 209               195
Insurance commissions                                                                               1,141               901
Service charges                                                                                     3,303             2,609
Securities gains, net                                                                                 370               223
Mortgage banking revenues                                                                           1,755             1,054
Other                                                                                               1,691             1,347
                                                                                        ------------------ -----------------
  Total non-interest income                                                                         9,913             7,727

Non-interest expense:
Salaries and employee benefits                                                                     10,197             9,344
Net occupancy and equipment expense                                                                 3,202             3,023
Amortization of intangible assets                                                                     577               557
Other                                                                                               4,698             4,981
                                                                                        ------------------ -----------------
  Total non-interest expense                                                                       18,674            17,905
                                                                                        ------------------ -----------------

Income before income taxes                                                                         10,454             9,048
Income taxes                                                                                        3,577             3,002
                                                                                        ------------------ -----------------

Net income                                                                                        $ 6,877           $ 6,046
                                                                                        ================== =================












Condensed Consolidated Statements of Changes in Stockholders' Equity
(in thousands)   (unaudited)
For the nine month period ended September 30,                                                        2003              2002
                                                                                        ------------------ -----------------

                                                                                                             
Balance at beginning of period                                                                   $ 66,807          $ 63,925
Net income                                                                                          6,877             6,046
Dividends on stock                                                                                  (791)             (780)
Issuance of stock                                                                                   1,580             1,346
Purchase of treasury stock                                                                        (3,466)             (859)
Change in accumulated other comprehensive income (loss)                                             (706)             1,896
                                                                                        ------------------ -----------------
Balance at end of period                                                                         $ 70,301          $ 71,574
                                                                                        ================== =================














Per Share Information
(unaudited)

For the nine months ended September 30,                                                              2003              2002
                                                                                        ------------------ -----------------
                                                                                                               
Basic earnings per share                                                                           $ 2.17            $ 1.78
Diluted earnings per share                                                                         $ 2.14            $ 1.77
Book value per share                                                                               $22.35            $21.09











                       First Mid-Illinois Bancshares, Inc.
                             1515 Charleston Avenue
                             Mattoon, Illinois 61938
                                 (217) 234-7454

                                www.firstmid.com