Ngati Rangiwewehi and Tapuika will each receive financial redress of $6 million and specific cultural redress packages.
This included a co-governance arrangement over the Kaituna River for Tapuika and the return of culturally significant sites such as Hamurana Springs to Ngati Rangiwewehi.
"The Government is committed to resolving all historical treaty grievances in a timely and durable way," Mr Finlayson said.
"These settlements are an important step towards resolving historical claims in the Bay of Plenty region."
The deeds were ratified by Ngati Rangiwewehi and Tapuika members.
The settlement is the ninth signed by the Crown this year.
Ngati Rangiwewehi chief executive Kahuariki Hancock said on the iwi's website that while it was not possible to be fully compensated, the settlement would provide redress in recognition of its historical grievance and toward restoring the relationship between iwi and the Crown.
Nobody was available for comment from Tapuika.