First Mid Bancshares Completes Acquisition of Two Rivers Financial Group
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 02 2026
0mins
Should l Buy FMBH?
First Mid Bancshares announced that the acquisition of Two Rivers Financial Group has been completed. There are no immediate changes for Two Rivers' customers. The conversion of accounts from Two Rivers is expected to happen in June of this year. Customers will receive information well in advance of any changes that may impact them.
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Analyst Views on FMBH
Wall Street analysts forecast FMBH stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 43.570
Low
48.00
Averages
48.00
High
48.00
Current: 43.570
Low
48.00
Averages
48.00
High
48.00
About FMBH
First Mid Bancshares, Inc. is a financial holding company. It is the parent company of First Mid Bank & Trust, N.A., First Mid Insurance Group, Inc., First Mid Wealth Management Co., and Two Rivers Bank & Trust. The Company provides a full suite of financial services including banking, wealth management, brokerage, Ag services, and insurance through a sizeable network of locations throughout Illinois, Missouri, Texas, and Wisconsin and a loan production office in the greater Indianapolis area. The Company offers insurance products and services to customers through its wholly owned subsidiary. It is engaged in the business of banking through its subsidiary, First Mid Bank & Trust, N.A. It offers insurance products and services to customers through its subsidiary, First Mid Insurance Group, Inc. It offers trust, farm services, investment services, and retirement planning through its subsidiary, First Mid Wealth Management Company.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
First Mid Bancshares Appoints New CEO
- Leadership Transition: First Mid Bancshares announced the appointment of Matt Smith as CEO and President effective July 1, 2026, marking a planned leadership transition aimed at ensuring ongoing business development and stability.
- Current CEO Role Shift: Current CEO Joe Dively will become Executive Chairman, continuing to oversee board strategy, governance, and M&A activities, which will help maintain strategic consistency in future acquisitions.
- Background of Matt Smith: Having been with First Mid since 2016 and previously serving as CFO, Matt Smith brings extensive financial management experience that will provide a solid foundation for his new role, expected to drive further growth in the financial services sector.
- Strategic Objectives: This leadership change not only recognizes internal talent but also reflects First Mid's commitment to future growth, aiming to enhance market competitiveness through effective leadership and strategic execution.
See More
First Mid Bancshares Announces Leadership Transition
- Leadership Transition: First Mid Bancshares announced that current President Matthew K. Smith will become CEO effective July 1, 2026, succeeding Joseph R. Dively, who will transition to Executive Chairman, ensuring continuity in company strategy and culture.
- Asset Growth: Under Smith's leadership, First Mid has seen total assets grow from approximately $2.8 billion to $9.3 billion since 2016, demonstrating success in capital planning and M&A activities, further solidifying its market position.
- Commitment to Service: Smith emphasized a continued focus on exceptional customer service, community support, and disciplined risk management, ensuring the company remains competitive in delivering long-term returns, reflecting a strong commitment to its mission.
- Governance and Strategy: Dively will continue to oversee the company's M&A strategy, ensuring alignment with Smith, highlighting First Mid's emphasis on strong governance and sustained growth, further driving expansion in the financial services sector.
See More
First Mid Bancshares Q1 Financial Highlights
- Earnings Growth: First Mid Bancshares reported a Q1 non-GAAP EPS of $1.14, indicating a sustained enhancement in profitability, reflecting effective management in loan and deposit growth.
- Significant Loan and Deposit Increases: Total loans reached $6.94 billion, with a quarterly increase of $932.9 million, while total deposits rose to $7.55 billion, up $1.15 billion quarter-over-quarter, demonstrating the company's competitive strength and increased customer trust.
- Net Interest Margin Expansion: The tax-equivalent net interest margin expanded to 3.78%, a quarterly increase of 5 basis points, showcasing the company's adaptability in changing interest rate environments, which aids in improving overall profitability.
- Shareholder Return Initiatives: The company repurchased 12,686 shares and declared a regular quarterly dividend of $0.25 per share, reflecting a commitment to shareholder returns while enhancing market confidence in the company's future growth.
See More
First Mid Bancshares Completes Acquisition of Two Rivers Financial Group
- Acquisition Completed: First Mid Bancshares, Inc. has successfully completed the acquisition of Two Rivers Financial Group, Inc., which had approximately $1.2 billion in assets, $883 million in loans, and $1 billion in deposits as of December 31, 2025, enhancing First Mid's market position.
- Asset Integration: This acquisition increases First Mid's total assets to approximately $9.1 billion and trust and wealth management assets to $7.9 billion, further solidifying its leadership in the financial services sector.
- Customer Service Commitment: There will be no immediate changes for Two Rivers' customers, with account conversions expected in June, and First Mid pledges to inform customers well in advance of any changes that may affect them, ensuring a smooth transition.
- Strategic Expansion: CEO Joe Dively expressed excitement in welcoming Two Rivers' customers and employees, emphasizing the intention to strengthen relationships through expanded services, showcasing the company's confidence in future growth.
See More
First Mid Bancshares Reports Strong Q4 Earnings and Acquisition Approval
- Earnings Performance: First Mid Bancshares reported a Q4 non-GAAP EPS of $1.06, indicating sustained growth in profitability, which reflects the company's robust financial management and competitive positioning in the market.
- Loan and Deposit Growth: Total loans reached $6.01 billion, with a quarterly increase of $187.3 million, or 3.2%, and a year-over-year increase of 6.0%; total deposits amounted to $6.40 billion, with a quarterly increase of $105.7 million, or 1.7%, and a year-over-year increase of 5.6%, demonstrating strong performance in both lending and deposit activities.
- Tangible Book Value Increase: Tangible book value per share increased by 4.3% during the quarter to $29.42, with a year-over-year increase of 20.3%, which not only enhances shareholder wealth but also provides a stronger foundation for future capital operations.
- Acquisition Approval and Dividend: The company received regulatory approval for the acquisition of Two Rivers Financial Group, Inc., while the Board declared a regular quarterly dividend of $0.25 per share, showcasing a dual strategy of business expansion and shareholder returns.
See More
First Mid Bancshares Declares Quarterly Dividend
- Quarterly Dividend Announcement: First Mid Bancshares declares a quarterly dividend of $0.25 per share, consistent with previous distributions, indicating the company's stable cash flow and profitability.
- Yield Information: The forward yield of 2.33% provides investors with a relatively attractive return, enhancing market interest in the stock.
- Shareholder Record Dates: The dividend will be payable on February 27, with a record date of February 12 and an ex-dividend date also on February 12, ensuring shareholders receive their dividends promptly.
- Financial Performance Overview: First Mid Bancshares reports a non-GAAP EPS of $1.06 and revenue of $88 million, reflecting the company's robust performance in the current economic environment.
See More
First Mid Bancshares Appoints New CEO
- Leadership Transition: First Mid Bancshares announced the appointment of Matt Smith as CEO and President effective July 1, 2026, marking a planned leadership transition aimed at ensuring ongoing business development and stability.
- Current CEO Role Shift: Current CEO Joe Dively will become Executive Chairman, continuing to oversee board strategy, governance, and M&A activities, which will help maintain strategic consistency in future acquisitions.
- Background of Matt Smith: Having been with First Mid since 2016 and previously serving as CFO, Matt Smith brings extensive financial management experience that will provide a solid foundation for his new role, expected to drive further growth in the financial services sector.
- Strategic Objectives: This leadership change not only recognizes internal talent but also reflects First Mid's commitment to future growth, aiming to enhance market competitiveness through effective leadership and strategic execution.
See More
First Mid Bancshares Announces Leadership Transition
- Leadership Transition: First Mid Bancshares announced that current President Matthew K. Smith will become CEO effective July 1, 2026, succeeding Joseph R. Dively, who will transition to Executive Chairman, ensuring continuity in company strategy and culture.
- Asset Growth: Under Smith's leadership, First Mid has seen total assets grow from approximately $2.8 billion to $9.3 billion since 2016, demonstrating success in capital planning and M&A activities, further solidifying its market position.
- Commitment to Service: Smith emphasized a continued focus on exceptional customer service, community support, and disciplined risk management, ensuring the company remains competitive in delivering long-term returns, reflecting a strong commitment to its mission.
- Governance and Strategy: Dively will continue to oversee the company's M&A strategy, ensuring alignment with Smith, highlighting First Mid's emphasis on strong governance and sustained growth, further driving expansion in the financial services sector.
See More
First Mid Bancshares Q1 Financial Highlights
- Earnings Growth: First Mid Bancshares reported a Q1 non-GAAP EPS of $1.14, indicating a sustained enhancement in profitability, reflecting effective management in loan and deposit growth.
- Significant Loan and Deposit Increases: Total loans reached $6.94 billion, with a quarterly increase of $932.9 million, while total deposits rose to $7.55 billion, up $1.15 billion quarter-over-quarter, demonstrating the company's competitive strength and increased customer trust.
- Net Interest Margin Expansion: The tax-equivalent net interest margin expanded to 3.78%, a quarterly increase of 5 basis points, showcasing the company's adaptability in changing interest rate environments, which aids in improving overall profitability.
- Shareholder Return Initiatives: The company repurchased 12,686 shares and declared a regular quarterly dividend of $0.25 per share, reflecting a commitment to shareholder returns while enhancing market confidence in the company's future growth.
See More
First Mid Bancshares Completes Acquisition of Two Rivers Financial Group
- Acquisition Completed: First Mid Bancshares, Inc. has successfully completed the acquisition of Two Rivers Financial Group, Inc., which had approximately $1.2 billion in assets, $883 million in loans, and $1 billion in deposits as of December 31, 2025, enhancing First Mid's market position.
- Asset Integration: This acquisition increases First Mid's total assets to approximately $9.1 billion and trust and wealth management assets to $7.9 billion, further solidifying its leadership in the financial services sector.
- Customer Service Commitment: There will be no immediate changes for Two Rivers' customers, with account conversions expected in June, and First Mid pledges to inform customers well in advance of any changes that may affect them, ensuring a smooth transition.
- Strategic Expansion: CEO Joe Dively expressed excitement in welcoming Two Rivers' customers and employees, emphasizing the intention to strengthen relationships through expanded services, showcasing the company's confidence in future growth.
See More
First Mid Bancshares Reports Strong Q4 Earnings and Acquisition Approval
- Earnings Performance: First Mid Bancshares reported a Q4 non-GAAP EPS of $1.06, indicating sustained growth in profitability, which reflects the company's robust financial management and competitive positioning in the market.
- Loan and Deposit Growth: Total loans reached $6.01 billion, with a quarterly increase of $187.3 million, or 3.2%, and a year-over-year increase of 6.0%; total deposits amounted to $6.40 billion, with a quarterly increase of $105.7 million, or 1.7%, and a year-over-year increase of 5.6%, demonstrating strong performance in both lending and deposit activities.
- Tangible Book Value Increase: Tangible book value per share increased by 4.3% during the quarter to $29.42, with a year-over-year increase of 20.3%, which not only enhances shareholder wealth but also provides a stronger foundation for future capital operations.
- Acquisition Approval and Dividend: The company received regulatory approval for the acquisition of Two Rivers Financial Group, Inc., while the Board declared a regular quarterly dividend of $0.25 per share, showcasing a dual strategy of business expansion and shareholder returns.
See More
First Mid Bancshares Declares Quarterly Dividend
- Quarterly Dividend Announcement: First Mid Bancshares declares a quarterly dividend of $0.25 per share, consistent with previous distributions, indicating the company's stable cash flow and profitability.
- Yield Information: The forward yield of 2.33% provides investors with a relatively attractive return, enhancing market interest in the stock.
- Shareholder Record Dates: The dividend will be payable on February 27, with a record date of February 12 and an ex-dividend date also on February 12, ensuring shareholders receive their dividends promptly.
- Financial Performance Overview: First Mid Bancshares reports a non-GAAP EPS of $1.06 and revenue of $88 million, reflecting the company's robust performance in the current economic environment.
See More
