form11k_2010.htm

 
FORM 11-K
 
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2010
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.
PROFIT SHARING PLAN AND TRUST
(Full Title of Plan)
 
 
FIRST MID-ILLINOIS BANCSHARES, INC.
1515 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.
 
Profit Sharing Plan & Trust
 
EIN 37-0404035 PN 002
 
Accountants’ Report and Financial Statements
 
December 31, 2010 and 2009
 

 

 
 

 

First Mid-Illinois Bancshares, Inc.
 
Profit Sharing Plan & Trust
 
December 31, 2010 and 2009
 

 
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)
17
   

 

 


 
 

 







Report of Independent Registered Public Accounting Firm



401(k) Oversight Committee
First Mid-Illinois Bancshares, Inc. 401(k) Profit Sharing Plan & Trust
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, 2010 and 2009, 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 standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  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, 2010 and 2009, 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 accompanying supplemental schedule of assets (held at end of year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.  The supplemental schedule is the responsibility of the Plan's management.  The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole.
 
/s/ BKD, LLP
 
Decatur, Illinois
June 29, 2011
 

 
Federal Employer Identification Number:  44-0160260
 

 
 

 


 
First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Statements of Net Assets Available for Benefits
December 31, 2010 and 2009

 

 

 
   
2010
   
2009
 
Assets
           
             
      Investments, At Fair Value
  $ 29,254,151     $ 25,615,226  
                 
      Receivables
               
               Due from broker for securities sold
    -       324,527  
               Interest and dividends
    79,797       74,840  
               Notes receivable from participants
    345,443       368,096  
      425,240       767,463  
                 
                       Total assets
    29,679,391       26,382,689  
                 
Liability
               
                 
               Due to broker for securities purchased
    -       324,527  
                 
     Net Assets Available for Benefits
  $ 29,679,391     $ 26,058,162  

 


See Notes to Financial Statements


 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Statements of Changes in Net Assets Available for Benefits
December 31, 2010 and 2009
 
 


 
   
2010
   
2009
 
     Investment Income
           
               Net appreciation (depreciation) in fair value of investments
  $ 1,810,919     $ 2,031,317  
               Interest and dividends
    625,761       566,238  
      2,436,680       2,597,555  
                 
     Interest Income from Notes Receivable from Participants
    16,108       23,176  
                 
     Contributions
               
               Employer
    803,305       786,850  
               Participants
    928,553       909,965  
               Rollovers
    230,284       24,034  
                 
      1,962,142       1,720,849  
                 
                    Total additions
    4,414,930       4,341,580  
                 
     Deductions
               
               Benefits paid to participants
    792,068       2,757,624  
               Other
    1,633       -  
                    Total deductions
    793,701       2,757,624  
                 
                 
     Net Increase (Decrease)
    3,621,229       1,583,956  
                 
     Net Assets Available for Benefits, Beginning of Year
    26,058,162       24,474,206  
                 
     Net Assets Available for Benefits, End of Year
  $ 29,679,391     $ 26,058,162  
                 


 

See Notes to Financial Statements

 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009
 
 

 

 
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 one-half year 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 contributions are also permitted.  The Company makes matching contributions calculated as a percentage of the before tax contribution made on behalf of each contributing participant.  The Company determines this percentage each year.  For December 31, 2010 and 2009, 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, 2010 and 2009, 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.
 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009
 

 
 
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, 2010 and 2009, forfeited nonvested accounts totaled $28,031 and $7,349, respectively.  These accounts are reallocated to participants in the same manner as employer contributions.
 
 
Notes Receivable from Participants
 
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 40% 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.  See Note 9 for change in accounting principle.
 
 
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.
 

 

 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009
 

 
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 includes the Plan’s gains and losses on investments bought and sold as well as held during the year.
 
 
Plan Tax Status
 
The Plan operates under a nonstandardized adoption agreement in connection with a prototype retirement plan sponsored by First Mid-Illinois Bank & Trust.  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 tax examinations by tax authorities for years before 2007.
 
 
Payment of Benefits
 
Benefit payments to participants are recorded upon distribution.
 

 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009
 

 
 
Administrative Expenses
 
Administrative expenses may be paid by the Company or the Plan, at the Company’s discretion.
 
 
Reclassifications
 
Certain reclassifications have been made to the 2009 financial statements to conform to the 2010 financial statement presentation.  These reclassifications had no effect on changes in net assets available for benefits.
 

 
Note 3:  
Investments
 
The Plan’s investments are held by a bank-administered trust fund.  The Plan’s investments (including investments bought, sold and held during the year) appreciated (depreciated) in fair value as follows:
 
   
2010
 
   
Net Appreciation (Depreciation)
in Fair Value During Year
   
Fair Value at End of Year
 
             
     Mutual funds
           
           Equity funds
  $ 1,421,379     $ 12,192,691  
           Balanced investment funds
    240,312       2,480,141  
        Fixed-income funds
    18,393       2,432,670  
        International funds
    207,887       1,661,058  
     Common stock
    (77,052 )     5,542,167  
     Money market funds
    -       81,673  
     Certificates of deposit
    -       4,863,751  
                 
    $ 1,810,919     $ 29,254,151  
                 

 


 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009



 
   
2009
 
   
Net Depreciation in Fair Value During Year
   
Fair Value at End of Year
 
             
     Mutual funds
           
           Equity funds
  $ 2,900,173     $ 11,314,384  
           Balanced investment funds
    466,339       2,390,112  
        Fixed-income funds
    38,348       1,705,489  
        International funds
    91,934       546,053  
     Common stock
    (1,465,477 )     5,368,827  
     Money market funds
    -       107,987  
     Certificates of deposit
    -       4,182,374  
                 
    $ 2,031,317     $ 25,615,226  
                 

 

 
The following amounts are the nonparticipant-directed investments, included in the table above:
 

 
   
Fair Value at the End of Year
 
   
2010
   
2009
 
             
     Certificate of deposit
  $ 573,911     $ 544,624  
                 

 

 

 

 

 

 

 

 

 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009

 

 
The fair value of individual investments that represented 5% or more of the Plan’s net assets in either year available for benefits were as follows:
 
   
2010
   
2009
 
             
        Federated Max Capital Index Fund
  $ 1,442,701     $ 1,447,271  
        Vanguard Growth Index Signal Fund
    1,920,403       1,773,852  
        Dodge & Cox Balanced Fund
    1,436,351       1,583,225  
        Oakmark Global I Fund
    2,245,760       2,302,961  
        T. Rowe Price Mid-Cap Value Fund
    2,704,108       2,512,167  
        First Mid-Illinois Bancshares, Inc. common stock
    5,542,167       5,368,827  
        First Mid-Illinois Bank & Trust certificate of deposit
    4,289,940       3,637,751  
                 
                 

 
Interest and dividends realized on the Plan’s investments for the years ended 2010 and 2009 were $625,761 and $566,238, respectively.
 

 
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:
 
   
2010
   
2009
 
          Net Assets:
           
               Certificate of deposit
  $ 573,911     $ 544,624  
               Interest receivable
    678       1,248  
                 
                    Net assets
  $ 574,589     $ 545,872  
                 
          Changes in net assets:
               
               Contributions
  $ 588,381     $ 536,175  
               Interest income
    6,151       9,697  
               Transfers to participant-directed investments
    (565,815 )     (544,077 )
                 
                     Total additions
  $ 28,717     $ 1,795  

 

 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009

 

 
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, 2010 and 2009, participants held 321,285 and 306,790 shares, respectively.
 
The Plan also holds certificates of deposit with First Mid-Illinois Bank & Trust, totaling $4,863,751 and $4,182,374 at December 31, 2010 and 2009, 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.
 

 
Note 6:  
Fair Value of Plan Assets
 
ASC Topic 820, Fair Value Measurements, defines fair value as 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.  Topic 820 also specifies a fair value hierarchy which requires a plan to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.  The standard describes 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
 
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.
 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009

 

 
 
Investments
 
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy.  Level 1 securities include common stock of the Company, money market and mutual funds.  If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows.  There were no Level 2 securities.  In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy and includes certificates of deposit.
 
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, 2010 and 2009:
 

         
2010
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
  $ 5,542,167     $ 5,542,167     $ -     $ -  
Mutual funds:
                               
  Equity funds
    12,192,691       12,192,691       -       -  
  Balanced  investment funds
    2,480,141       2,480,141       -       -  
  Fixed-income funds
    2,432,670       2,432,670       -       -  
  International funds
    1,661,058       1,661,058       -       -  
Money market funds
    81,673       81,673       -       -  
Certificates of deposit
    4,863,751       -       -       4,863,751  
    $ 29,254,151     $ 24,390,400     $ -     $ 4,863,751  

 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009

 

 
         
2009
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
  $ 5,368,827     $ 5,368,827     $ -     $ -  
Mutual funds:
                               
  Equity funds
    11,314,384       11,314,384       -       -  
  Balanced  investment funds
    2,390,112       2,390,112       -       -  
  Fixed-income funds
    1,705,489       1,705,489       -       -  
  International funds
    546,053       546,053       -       -  
Money market funds
    107,987       107,987       -       -  
Certificates of deposit
    4,182,374       -       -       4,182,374  
    $ 25,615,226     $ 21,432,852     $ -     $ 4,182,374  

 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009

 

 
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, 2009
  $ 5,930,221  
  Total interest income included in net increase in net assets available for benefits
    141,494  
  Purchases
    1,323,073  
  Redemptions
    (3,212,414 )
Balance, December 31, 2009
  $ 4,182,374  
  Total interest income included in net increase in net assets available for benefits
    70,564  
  Purchases
    2,008,841  
  Redemptions
    (1,398,028 )
Balance, December 31, 2010
  $ 4,863,751  

 
For the years December 31, 2010 and 2009, realized and unrealized gains and losses included in net increase in net assets available for benefits for the period January 1, 2009, through December 31, 2010, are reported in net appreciation in fair value of investments in the statements of changes in net assets available for benefits.
 

 
Note 7:  
Current Economic Conditions
 
The current protracted economic decline continues to present employee benefit plans with difficult circumstances and challenges, which in some cases have resulted in large and unanticipated declines in the fair value of investments.  The financial statements have been prepared using values and information currently available to the Plan.
 
Given the volatility of current economic conditions, the values of assets recorded in the financial statements could change rapidly, resulting in material future adjustments in investment values that could negatively impact the Plan.
 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009

 

 
Note 8:  
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 9:  
Change in Accounting Principle
 
During 2010, the Plan adopted the provisions of ASU 2010-25, Reporting Loans to Participants by Defined Contribution Pension Plans.  The ASU requires loans to participants to be reported as Notes Receivable from Participants at unpaid principal plus accrued but unpaid interest, instead of being reported as a part of Investments at fair value as they were under previous guidance.
 
The following financial statement line items for fiscal years 2010 and 2009 were affected by the change in accounting principle:
 

   
2010
 
   
Statement of Net Assets
Available for Benefits
 
   
As Computed Under Previous Guidance
   
As Computed Under ASU 2010-25
   
Effect of Change
 
                   
Investments
  $ 29,599,594     $ 29,254,151     $ (345,443 )
Notes receivable from participants
    -       345,443       345,443  

 
   
2009
 
   
Statement of Net Assets
Available for Benefits
 
   
As Previously Reported
   
As Adjusted
   
Effect of Change
 
                   
Investments
  $ 25,983,322     $ 25,615,226     $ (368,096 )
Notes receivable from participants
    -       368,096       368,096  

 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
Notes to Financial Statements
December 31, 2010 and 2009

 

 
   
2010
 
   
Statement of Changes in Net Assets
Available for Benefits
 
   
As Computed Under Previous Guidance
   
As Computed Under ASU 2010-25
   
Effect of Change
 
                   
Interest and dividends
  $ 641,868     $ 625,760     $ (16,108 )
Net investment income
    2,452,787       2,436,679       (16,108 )
Interest income from notes receivable from participants
    -       16,108       16,108  

 
   
2009
 
   
Statement of Changes in Net Assets
Available for Benefits
 
   
As Previously Reported
   
As Adjusted
   
Effect of Change
 
                   
Interest and dividends
  $ 589,414     $ 566,238     $ (23,176 )
Net investment income
    2,620,731       2,597,555       (23,176 )
Interest income from notes receivable from participants
    -       23,176       23,176  

 
Net assets available for benefits were not affected by the adoption of the new guidance.
 

 

 

 
 

 


 

 

 

 

 

 

 

 

 

 

 
Supplemental Schedule
 

 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
EIN 37-0404035 PN 002
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
December 31, 2010

 

 
Identity of Issuer
Description of Investment
 
Current
 
         
Certificates of Deposit
       
First Mid-Illinois Bank & Trust*
1.00% due 12/31/10
  $ 573,911  
First Mid-Illinois Bank & Trust*
1.00% due 12/31/10
    4,289,840  
        4,863,751  
           
Common Stock
         
     First Mid-Illinois Bancshares, Inc.*
321,285 Shares
    5,542,167  
           
Mutual Funds
         
     American Century Equity Income
84,188 Shares
    606,999  
     American Funds EuroPacific Growth Fund
4,273 Shares
    173,822  
     American Funds EuroPacific Growth F-2
19,599 Shares
    810,024  
     American Funds Capital World Bond F-2
8,247 Shares
    168,243  
     Dodge & Cox Balanced Fund
20,455 Shares
    1,436,351  
     Federated Max Capital Index Fund
111,664 Shares
    1,442,701  
     Federated Total Return Bond Fund
75,093 Shares
    837,285  
     Keely Small Cap Value Fund – C
12,817 Shares
    321,837  
     Legg Mason ClearBridge Appreciation Fund
48,969 Shares
    667,445  
     Oakmark Global I Fund
99,900 Shares
    2,245,760  
     Oppenheimer Developing Markets Y
7,312 Shares
    263,726  
     Perkins Mid Cap Value
19,875 Shares
    448,572  
     PIMCO Total Return D
64,352 Shares
    698,214  
     Principal High Yield
32,032 Shares
    254,334  
     Principal Real Estate Securities
6,602 Shares
    106,430  
     Royce Low-Priced Stock Fund
32,484 Shares
    594,451  
     RS Emerging Markets Fund
9,171 Shares
    245,244  
     RS Global Natural Resources A
3,054 Shares
    114,773  
     T. Rowe Price Mid-Cap Value Fund
114,049 Shares
    2,704,108  
     T. Rowe Price Retirement 2010 Fund
7,251 Shares
    110,794  
     T. Rowe Price Retirement 2020 Fund
10,533 Shares
    172,207  
     T. Rowe Price Retirement 2030 Fund
19,281 Shares
    331,244  
     T. Rowe Price Retirement 2040 Fund
14,243 Shares
    246,549  
     T. Rowe Price Retirement 2050 Fund
18,846 Shares
    182,996  
     The Growth Fund of America, Inc.
20,994 Shares
    638,425  
     Vanguard GNMA Fund
59,854 Shares
    642,837  
     Vanguard Growth Index Signal Fund
65,632 Shares
    1,920,403  
     Vanguard Windsor II -  Admiral
8,358 Shares
    380,786  
        18,766,560  
           


 
 

 

First Mid-Illinois Bancshares, Inc.
Profit Sharing Plan & Trust
EIN 37-0404035 PN 002
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
(Continued)
December 31, 2010

 

 

Identity of Issuer
Description of Investment
 
Current
 
         
Money Market
       
     Federated Prime Obligation Funds #10
26,225 Units
  $ 26,225  
     Federated Prime Obligation Funds #396
52,775 Units
    52,775  
     NTHN Institutional Funds Government Select
2,673 Units
    2,673  
        81,673  
           
        29,254,151  
           
Participant Loans
3.25% to 8.50%
    345,443  
           
      $ 29,599,594  
           

 
 
* Represents a party-in-interest to the Plan




 
 

 

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 29, 2011

/s/ William S. Rowland
William S. Rowland
President and Chief Executive Officer



 
 

 


 
Exhibit Index to Annual Report on Form 11-K

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