First Mid Bancshares, Inc. has announced an agreement to acquire Two Rivers Financial Group Inc., the parent company of Two Rivers Bank & Trust headquartered in Burlington. The all-stock transaction is valued at approximately $94.1 million, expanding First Mid’s footprint into Central and southeastern Iowa. The transaction, unanimously approved by both boards, is slated to close in the first quarter of 2026, pending regulatory and shareholder approvals. Under the terms of the deal, Two Rivers shareholders will receive 1.225 shares of FMBH common stock for each share of TRVR, based on First Mid’s closing price of $36.80 on Oct. 28, 2025. “This partnership is an exciting step forward for our organization as we expand into a neighboring state, demonstrating our commitment to continued growth and geographic diversification,” Joseph R. Dively, chairman and CEO of First Mid, said in a prepared statement.