First Mid Bancshares Reports Record Q1 EPS, Integrates Two Rivers Acquisition

summarizeSummary

First Mid Bancshares reported record first-quarter 2026 earnings, driven by strong organic growth and the successful integration of the Two Rivers acquisition, despite some increases in asset quality metrics.

check_boxKey Events

• Record Q1 Earnings

  Reported net income of $26.3 million and diluted EPS of $1.06, marking record quarterly performance.

• Two Rivers Acquisition Closed

  Successfully completed the acquisition of Two Rivers Financial Group on February 28, 2026, adding $871.4 million in loans and $1.04 billion in deposits.

• Strong Loan and Deposit Growth

  Total loans increased by $932.9 million to $6.94 billion, and total deposits grew by $1.15 billion to $7.55 billion, including contributions from the acquisition and solid organic growth.

• Net Interest Margin Expansion

  Net interest margin (tax equivalent) expanded by 5 basis points quarter-over-quarter to 3.78%.

auto_awesomeAnalysis

First Mid Bancshares delivered strong first-quarter 2026 results, achieving record diluted earnings per share of $1.06 and net income of $26.3 million. The company successfully closed its acquisition of Two Rivers Financial Group, which significantly contributed to loan and deposit growth. While asset quality metrics saw some increases in non-performing and special mention loans, a substantial portion was attributed to the acquired portfolio, and management expressed confidence in overall balance sheet strength. The expansion of the net interest margin and a modest share repurchase further underscore a positive operational quarter.