AcquisitionsJul 31, 2026, 12:38 PM

First Merchants Completes First Savings Acquisition

AI Summary

First Merchants Corporation completed its acquisition of First Savings Financial Group, Inc. on February 1, 2026, issuing 6.1 million shares of common stock for a total purchase price of approximately $243.2 million. This strategic move expanded the company's geographic footprint. For the second quarter of 2026, net income available to common stockholders decreased to $43.5 million ($0.70 Basic EPS) from $56.4 million ($0.98 Basic EPS) in Q2 2025, primarily due to a significant increase in provision for credit losses and $20.8 million in integration expenses.

Key Highlights

Completed the acquisition of First Savings Financial Group, Inc. on February 1, 2026.
Issued 6.1 million shares of common stock for the $243.2 million acquisition.
Total assets increased to $21.3 billion as of June 30, 2026, from $19.0 billion at December 31, 2025.
Net income available to common stockholders was $43.5 million for Q2 2026, down from $56.4 million in Q2 2025.
Basic EPS was $0.70 for Q2 2026, compared to $0.98 for Q2 2025.
Net interest income rose to $158.9 million in Q2 2026 from $133.0 million in Q2 2025.
Provision for credit losses significantly increased to $33.0 million in Q2 2026 from $5.6 million in Q2 2025.
Incurred $20.8 million in integration and transaction-related expenses for the six months ended June 30, 2026.

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FRME

Major Banks

FIRST MERCHANTS CORP

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