What to do when a First Mid Bank & Trust account holder dies

On a joint account with survivorship, the balance belongs to the surviving owners when one owner dies; two or more survivors hold it together with survivorship.¹

A joint account held as tenants in common gives no owner a right of survivorship, so a deceased owner's share does not pass to the others by the account's terms.¹

Beneficiaries of a payable-on-death or revocable trust account can withdraw only once every owner has died and only if they are living; two or more surviving beneficiaries share it equally.¹

An executor, administrator or conservator acting under a court order may open and keep an account. First Mid is not responsible for what a fiduciary does with the money.¹

First Mid HSAs are provided by Lively, Inc., and the Two Rivers HSAs moved to Lively in 2026 without their beneficiary designations, which the owner had to name again.^{2, 3}

At a Texas branch, a convenience signer does not own the account, and the bank may pay a convenience signer until it is told the last owner has died.¹

At a Wisconsin branch, when a spouse on a marital account with payable-on-death beneficiaries dies, half goes to the surviving spouse and half to the beneficiaries the deceased spouse named.¹

Estate settlement with First Mid as executor or administrator, and help for court-appointed executors^{4, 5, 6}

First Mid Health Savings Accounts, powered by Lively²

The deposit terms make it the customer's duty to tell First Mid promptly when anyone who can withdraw from the account dies.¹

First Mid may keep honoring the owner's checks and instructions until it knows of the death, and may pay checks dated on or before the death for up to ten days afterward unless someone with an interest orders it to stop.¹

A power of attorney ends at the owner's death, and an authorized signer's authority ends then too, but the bank may honor them until it has notice and time to act.¹

First Mid may take a debt any owner owes it from the account, but not from an IRA or where the debtor can withdraw only in a representative capacity.¹

When survivors or beneficiaries make conflicting claims, First Mid may hold the funds until a court decides or it has proof the dispute is settled.¹

A checking account with no deposits or withdrawals for 12 months, or a money market account for 24, is dormant and is charged $5.00 a month; after years of no activity the money may go to the state.¹

Account research is charged at $25.00 an hour with a one-hour minimum, plus $0.25 a printed page and $1.00 a check image.¹

The deposit terms' arbitration clause binds an owner's heirs, representatives and beneficiaries, including payable-on-death beneficiaries.¹

An account is governed by federal law and the law of the state of the branch that holds it; the arbitration clause applies Illinois law where state law applies.¹

Two Rivers Bank & Trust accounts became First Mid accounts on June 15, 2026, most keeping their account numbers, and First Mid became custodian of the Two Rivers IRAs, including beneficiary IRAs.⁷