---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-25-006797"
form_type: "8-K"
ticker: "FMBH"
cik: "0000700565"
company_name: "FIRST MID BANCSHARES, INC."
filed_at: "2025-10-30T23:59:59+00:00"
generated_at: "2026-05-17T01:28:27.556342+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Mid Bancshares to acquire Two Rivers Financial in stock deal valued ~$94M

## Summary
- First Mid (FMBH) to acquire 100% of Two Rivers (TRVR) in all-stock merger; shareholders get 1.225 FMBH shares per TRVR share.
- Aggregate consideration ~$94.1M; transaction estimated 12.3% accretive to EPS in 2027; tangible book dilution earned back in 2.1 years.
- Two Rivers has $1.1B assets, $901M loans, $988M deposits, and $1.2B trust/wealth AUM as of Sept 30, 2025; operates 14 Iowa branches.
- Expected Q1 2026 close, subject to regulatory and Two Rivers shareholder approvals; cost savings ~27% of Two Rivers noninterest expense.
- Shane Zimmerman, Two Rivers Bank CEO, to join First Mid as EVP and Divisional President.

## SEC filing metadata
- accession: 0001171843-25-006797
- form_type: 8-K
- ticker: FMBH
- cik: 0000700565
- company_name: FIRST MID BANCSHARES, INC.
- filed_at: 2025-10-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/700565/000117184325006797/0001171843-25-006797-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/700565/000117184325006797/f8k_102925.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-25-006797
- JSON: https://secwatch.observer/filing/0001171843-25-006797.json
- Plain text: https://secwatch.observer/filing/0001171843-25-006797.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.