Quarterly ResultApr 29, 2026, 04:32 PM
FMBH Q1 Net Income $26.3M, EPS $1.06; Two Rivers Acquisition Closed
AI Summary
First Mid Bancshares, Inc. reported strong financial results for Q1 2026, with net income of $26.3 million and diluted EPS of $1.06. The company successfully closed the acquisition of Two Rivers Financial Group, Inc. on February 28, 2026, adding $871.4 million in loans and $1.04 billion in deposits. The integration is progressing as expected, contributing to record quarterly earnings and expanding the company's footprint into Iowa.
Key Highlights
- Closed acquisition of Two Rivers Financial Group, adding $871.4 million in loans and $1.04 billion in deposits.
- Net income of $26.3 million, or $1.06 diluted EPS.
- Adjusted quarterly net income of $28.4 million, or $1.14 diluted EPS.
- Total loans increased by $932.9 million to $6.94 billion.
- Total deposits increased by $1.15 billion to $7.55 billion.
- Net interest margin, tax equivalent, expanded 5 basis points to 3.78%.
- Repurchased 12,686 shares and declared a quarterly dividend of $0.25 per share.
- Tangible book value per common share increased 2.1% to $30.04.