First Merchants Corporation reports developments for a financial holding company built around First Merchants Bank, its single full-service bank charter, and First Merchants Private Wealth Advisors. News commonly covers community banking results, deposit and loan activity, investment securities, mortgage lending, cash management, wealth management, and capital actions involving common stock and Series A preferred depositary shares.
Company updates also include board and executive governance matters, cash dividend declarations, earnings-call materials, digital banking partnerships, and completed acquisition activity such as the First Savings Financial Group merger that expanded its southern Indiana presence.
First Merchants (NASDAQ: FRME) reported third-quarter 2026 net income available to common shareholders of $67.8 million, above both comparison periods. Diluted earnings were $1.09, versus $0.70 in the preceding quarter and $0.98 a year earlier. Net interest income reached $161.1 million; fully taxable equivalent net interest margin, which adjusts for tax-exempt income, rose to 3.44%.
Loans increased $70.2 million and deposits grew $175.6 million from the preceding quarter. Net charge-offs—loans written off less recoveries—totaled $29.4 million, driven by two previously reserved credits. Nonperforming assets reached 0.57% of assets, versus 0.56%. Nine-month common earnings fell to $139.0 million from $167.5 million. First Merchants issued $100 million of subordinated debt in late September and repurchased $12.0 million of shares during the quarter. President Mike Stewart will succeed CEO Mark Hardwick upon his retirement at year-end 2026.
First Merchants (FRME) declared a quarterly cash dividend on its Series A preferred stock, payable November 16, 2026. The dividend is $46.88 per preferred share, or $0.4688 per depositary share, for stockholders of record on October 30, 2026. Each depositary share (FRMEP) represents a 1/100th interest in a share of the 7.50% Non-Cumulative Perpetual Preferred Stock, Series A.
First Merchants (FRME) announced CEO Mark Hardwick will retire at the end of 2026, with Mike Stewart succeeding him. Stewart, currently First Merchants Bank President, will become President and CEO at the start of 2027. Hardwick has spent 29 years with the bank; Stewart has been with it for more than 18 years.
Hardwick said he wants to dedicate more time to consultative faith-based leadership. Stewart plans to continue organic growth in the communities the bank serves, building on its Midwestern presence through deeper customer relationships, technology use and customer-focused products.
First Merchants (FRME) will release its third quarter 2026 financial results on October 21, 2026, ahead of an earnings call.
The conference call and webcast will take place on October 22, 2026, at 9:00 a.m. ET. Presentation slides will be available during the webcast, and a webcast replay will remain available until October 22, 2027.
First Merchants (FRME) announced pricing for a $100 million subordinated notes offering on September 23, 2026.
The notes bear 6.750% annual interest from September 25, 2026, until October 1, 2031, with payments every six months starting April 1, 2027. The rate then resets quarterly to an expected benchmark of Three-Month Term SOFR plus 202 basis points, with quarterly payments. First Merchants may redeem the notes starting October 1, 2031; otherwise, they mature October 1, 2036.
Closing is expected on or about September 25, 2026, subject to customary conditions. First Merchants intends to use net proceeds for general corporate purposes, including common-share repurchases. The notes are intended to qualify as Tier 2 regulatory capital.
First Merchants Corporation (NASDAQ: FRME) declared a cash dividend of $0.37 per common share on August 14, 2026. The dividend will be paid on September 18, 2026 to shareholders of record as of September 4, 2026. First Merchants is a Muncie, Indiana-based financial holding company operating First Merchants Bank and its private wealth division.
First Merchants Corporation (NASDAQ: FRME) reported second quarter 2026 net income available to common stockholders of $43.5 million, or $0.70 per diluted share, versus $56.4 million, or $0.98, a year earlier and $27.7 million, or $0.45, in the first quarter of 2026. Adjusted diluted EPS was $0.74, compared to $1.03 in the prior quarter and $0.98 in the prior-year quarter. Net interest income rose to $158.9 million, with fully taxable equivalent net interest margin at 3.38%, up 3 basis points sequentially and 13 basis points year-over-year. Loans reached $15.5 billion after $268.8 million linked-quarter growth, including $221.7 million organic growth on a 5.8% annualized basis, while deposits increased to $16.8 billion, up $267.8 million sequentially. Provision for credit losses rose to $33.0 million as two commercial relationships totaling $41.8 million were placed on nonaccrual and associated reserves of $29.7 million were recorded. Capital remained strong with a common equity tier 1 ratio of 11.16%, and the company repurchased 976,631 common shares year-to-date for $38.3 million.
First Merchants Corporation (NASDAQ: FRME) declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, represented by depositary shares (NASDAQ: FRMEP). Holders will receive $0.4688 per depositary share, payable on August 14, 2026 to stockholders of record on July 30, 2026.
First Merchants Corporation (Nasdaq: FRME) will release its second quarter 2026 financial results on July 22, 2026, and host an earnings conference call and webcast on July 23, 2026, at 9:00 a.m. ET. A webcast replay will be available until July 23, 2027.
First Merchants (NASDAQ:FRME) and NCRC announced a new $2.02 billion, five-year Community Benefits Agreement running from January 1, 2026 through December 31, 2030.
The plan targets Indiana, Michigan and Ohio with:
- $650M LMI mortgage lending
- $464M small-business lending
- $700M community development lending
- $200M community development investments
- $6M philanthropy