AcquisitionsMay 1, 2026, 04:27 PM

FIRST MERCHANTS Completes First Savings Acquisition; Q1 Diluted EPS $0.45

AI Summary

FIRST MERCHANTS CORPORATION completed its acquisition of First Savings Financial Group, Inc. on February 1, 2026, issuing 6.1 million common shares for a total purchase price of approximately $243.2 million. The acquisition significantly increased total assets and deposits, but the company reported a decline in Q1 2026 net income available to common stockholders to $27.687 million, or $0.45 diluted EPS, compared to $54.870 million, or $0.94 diluted EPS, in Q1 2025. This decline was partly due to $17.0 million in integration and transaction-related expenses and a $29.755 million net loss on mortgage loans reclassified to held for sale.

Key Highlights

Completed acquisition of First Savings Financial Group, Inc. on February 1, 2026.
Issued 6.1 million common shares for the acquisition, valued at approximately $243.2 million.
Recorded $70.787 million in goodwill and $29.4 million for core deposit intangible from the acquisition.
Net income available to common stockholders for Q1 2026 decreased to $27.687 million from $54.870 million in Q1 2025.
Diluted EPS for Q1 2026 was $0.45, down from $0.94 in Q1 2025.
Total Assets grew to $21.07 billion at March 31, 2026, from $19.03 billion at December 31, 2025.
Total Deposits increased to $16.49 billion at March 31, 2026, from $15.29 billion at December 31, 2025.
Incurred $17.0 million in integration and transaction-related expenses during Q1 2026.
Declared a cash dividend of $0.36 per common share for Q1 2026.

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FRME

Major Banks

FIRST MERCHANTS CORP

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