First Bankers Trustshares Inc

First Bankers Trustshares maintains a debt-to-equity ratio of 0.93, indicating a relatively balanced capital structure with moderate leverage. The company's liquidity position is assessed as medium, with free cash flow of $5.94 million and operating cash flow of $16.03 million, but net cash is negative after subtracting total debt. This suggests the company may need to rely on external financing or asset sales to meet long-term obligations. Profitability metrics show a return on equity (ROE) of 8.55% and a return on assets (ROA) of 0.90%, which are below the industry median for regional banks. These figures indicate that the company is generating returns, but at a slower pace compared to its peers. The company's net interest margin and efficiency ratio are not disclosed, but the ROE and ROA suggest room for improvement in asset utilization and cost management. The company's revenue is concentrated in its primary market area, with a focus on commercial operating, commercial real estate, agricultural operating, agricultural real estate, and construction and land development segments. No material geographic diversification is disclosed, and the company's exposure to local economic conditions is significant. This concentration increases vulnerability to regional downturns in agriculture or real estate. The company's growth trajectory is not explicitly outlined in the latest filings, but the absence of capital expenditures and a flat share count suggest a conservative approach to expansion. The company's revenue of $26.21 million in the latest period is stable, but no year-over-year growth is reported. The outlook for the next fiscal year is not provided, but the company's risk assessment indicates low dilution potential and a medium liquidity risk. The risk assessment highlights a key flag: net cash is negative after subtracting total debt, which could impact the company's ability to fund operations or investments without external financing. The company's liquidity risk is moderate, and the risk of dilution is low, with no recent share issuance or ATM activity reported. The company's capital structure appears stable, but the negative net cash position is a concern for long-term liquidity. Recent events include the filing of the 10-K for the fiscal year ending December 31, 2023, which provides a detailed overview of the company's financial position and risk factors. No material changes in management, strategy, or regulatory environment are disclosed in the latest filings. The company's operations remain focused on its core banking services in west central Illinois.