FIRST MERCHANTS CORP

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.

First Merchants Corporation reported second quarter 2026 net income of $43.5 million, or $0.70 diluted EPS, compared to $0.98 in Q2 2025. Adjusted diluted EPS was $0.74. Results were significantly impacted by a $33.0 million provision for credit losses, primarily due to two commercial lending relationships totaling $41.8 million placed on nonaccrual status. Despite this, the company achieved solid loan and deposit growth, an expanding net interest margin of 3.38%, and strong adjusted pre-tax, pre-provision income of $84.6 million.

First Merchants Corporation announced that its Board of Directors has declared a quarterly cash dividend on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A. The dividend amounts to $46.88 per share, which is equivalent to $0.4688 per depositary share. This dividend is scheduled to be paid on August 14, 2026, to stockholders of record as of July 30, 2026.

Dr. Mung Chiang has resigned from the Board of Directors of First Merchants Corporation, effective July 1, 2026. His resignation stems from a change in professional responsibilities that necessitates his relocation outside the company's primary market area, limiting his ability to serve. The company confirmed that his departure was not due to any disagreements regarding its operations or practices. Consequently, the Board's size will be reduced from thirteen to twelve members.

First Merchants Corporation announced it will release its second quarter 2026 financial results on July 22, 2026. The company will host an earnings conference call and webcast the following day, July 23, 2026, at 9:00 a.m. ET. Details for accessing both the phone conference and the webcast, including a replay, were provided.

First Merchants Bank and the National Community Reinvestment Coalition (NCRC) announced a new $2.02 billion Community Benefits Agreement (CBA). This five-year agreement, effective from January 1, 2026, to December 31, 2030, reinforces the bank's commitment to financial wellness across its footprint in Indiana, Michigan, and Ohio. The CBA includes significant allocations for mortgage lending, small business lending, community development, and philanthropy, aiming to expand access to financial prosperity and support underserved communities.

First Merchants Corporation's Board of Directors approved a new stock repurchase program. The program authorizes the repurchase of up to 3,125,000 shares of the Company's common stock, with a total aggregate investment not exceeding $100,000,000. This represents approximately 5% of the outstanding shares and replaces a previous program from March 2025.

First Merchants Bank, a $21 billion-asset financial institution, has been recognized on Forbes World Best Banks 2026 list. This annual ranking, developed with Statista, evaluates banks based on customer trust, service quality, and overall experience, drawing from over 54,000 customer responses across 34 countries. The recognition highlights First Merchants' long-standing commitment to balancing digital innovation with meaningful in-person service and community-based decision making, reinforcing its reputation as a high-performing institution with deep local ties.

First Merchants Corporation has announced the appointment of Paul Fultz to its Boards of Directors for both the Corporation and First Merchants Bank. Mr. Fultz, a retired Audit and Business Unit Professional Practice Partner from KPMG LLP, brings over 30 years of experience in financial reporting, risk oversight, and governance. His addition is expected to strengthen the board's strategic decision-making and provide valuable perspective on complex transactions. With this appointment, First Merchants' board will expand to 13 members, including 10 independent outside directors.

First Merchants Corporation announced a cash dividend of $0.37 per common share. The dividend is scheduled to be paid on June 19, 2026, to shareholders of record as of June 5, 2026. First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana.