First Merchants Stock Price, News & Analysis

First Merchants Corporation (NASDAQ: FRME) is a financial holding company in the commercial banking industry. According to its public disclosures and press releases, the company is headquartered in Muncie, Indiana and conducts its banking operations through a single full-service bank charter, First Merchants Bank. The bank also operates as First Merchants Private Wealth Advisors, which is described as a division of First Merchants Bank.

First Merchants Corporation’s common stock trades on the Nasdaq Global Select Market under the symbol FRME. In addition to its common equity, the company has issued 7.50% Non-Cumulative Perpetual Preferred Stock, Series A. Depositary shares representing a 1/100th interest in a share of this Series A preferred stock trade on the Nasdaq Global Select Market under the symbol FRMEP. The company has stated in multiple press releases and SEC filings that quotations for these securities are carried in daily newspapers.

The company identifies itself as a financial holding company that, through its bank subsidiary, provides financial services delivered locally by bankers. Based on its own descriptions, First Merchants offers personal banking, business banking, real estate mortgage lending, cash management services, brokerage, wealth management, and insurance. The company reports that it operates in one segment, which it characterizes as community banking.

Business model and banking focus

First Merchants Corporation’s business model is centered on community banking through First Merchants Bank. The bank charter provides the structure for offering traditional banking products and services. The company’s disclosures reference personal and business banking, which indicate a focus on serving both individual and commercial customers through deposit accounts, lending activities, and related services. Real estate mortgage lending is specifically mentioned as part of its service offering, along with cash management services that support customers’ day-to-day financial operations.

The company also notes that it provides brokerage, wealth management, and insurance. These activities are aligned with the presence of First Merchants Private Wealth Advisors as a division of the bank, indicating that advisory and wealth-related services are delivered under that brand within the bank structure. All of these activities are reported within a single community banking segment, according to the company’s own description.

Capital structure and listed securities

In its SEC filings, First Merchants Corporation lists its Common Stock, $0.125 stated value per share, which trades under the symbol FRME on The Nasdaq Stock Market LLC. It also lists Depositary Shares, each representing a 1/100th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series A, which trade under the symbol FRMEP on The Nasdaq Stock Market LLC. The company has disclosed that the preferred stock has a 7.50% rate and is non-cumulative and perpetual.

Press releases and Form 8-K filings document that the company’s Board of Directors has declared cash dividends on both its common stock and its Series A preferred stock. For the preferred stock, the company has described a quarterly cash dividend of $46.88 per share on the Series A preferred, equivalent to $0.4688 per depositary share, with payment dates and record dates specified in those releases. For the common stock, the company has announced cash dividends per common share with corresponding payment and record dates in its press releases and related 8-K filings.

Regulatory status and reporting

First Merchants Corporation is incorporated in Indiana and files reports with the U.S. Securities and Exchange Commission under Commission File Number 001-41342, as indicated in multiple Form 8-K filings. Those filings confirm that the company is a registrant under the Securities Exchange Act of 1934 and that its securities are listed on the Nasdaq Global Select Market. The company uses Form 8-K to report material events, including results of operations and financial condition, dividend declarations, and entry into material definitive agreements.

In its 8-K filings, the company has reported quarterly financial results for periods such as the second and third quarters of 2025, including net interest income, noninterest income, noninterest expense, and balance sheet details. These filings also reference conference calls and webcasts for analysts and investors, with slide presentations furnished as exhibits. While detailed numerical results are time-specific, the pattern of regular quarterly reporting and earnings calls reflects the company’s ongoing participation in public markets and its communication practices with shareholders and analysts.

Growth, community banking segment, and merger activity

First Merchants Corporation states that it reports in one segment, community banking. Within that framework, its financial disclosures for 2025 show total assets, loans, deposits, and capital ratios as of quarter-end dates. The company has highlighted loan growth, deposit growth, and capital ratios such as its Common Equity Tier 1 Capital Ratio and tangible common equity ratio in its earnings press releases.

On September 25, 2025, First Merchants Corporation and First Savings Financial Group, Inc. announced that they had entered into a definitive merger agreement. According to the joint press release and the related Form 8-K, First Savings will merge with and into First Merchants in an all-stock transaction valued at approximately $241.3 million based on the closing price of First Merchants common stock on September 24, 2025. Immediately following the merger, First Savings Bank is expected to merge with and into First Merchants Bank. The transaction is described as subject to First Savings’ shareholder approval, regulatory approvals, and other customary conditions, with an anticipated closing in the first quarter of 2026.

The same press release notes that First Savings is headquartered in Jeffersonville, Indiana and operates 16 banking center locations in southern Indiana. It also provides information about First Savings’ assets, loans, and deposits as of June 30, 2025. The companies have stated that, upon completion of the merger, First Merchants and First Savings will have combined assets of approximately $21.0 billion and that First Merchants will remain the second largest financial holding company headquartered in Indiana. The combined company is expected to conduct its banking business as First Merchants Bank.

Earnings announcements and shareholder communications

First Merchants Corporation regularly announces its quarterly financial results through press releases and Form 8-K filings. For example, in July and October 2025, the company issued press releases detailing its second and third quarter 2025 earnings per share, net income available to common stockholders, loan and deposit growth, nonperforming asset ratios, and efficiency ratio. These releases are accompanied by scheduled earnings conference calls and webcasts, with registration links and replay availability described in the announcements.

The company’s communications emphasize metrics such as net interest income, noninterest income, provision for credit losses, and capital ratios. They also describe changes in loans, deposits, and investment securities over time, along with commentary on asset quality and nonperforming assets. While the specific figures are period-specific, the consistent structure of these disclosures illustrates how First Merchants presents its financial performance and risk profile to the market.

Dividends and capital management

Press releases and related Form 8-K filings show that First Merchants Corporation’s Board of Directors has declared recurring cash dividends on both common and preferred equity. For common stock, the company has disclosed cash dividends per share with specified record and payment dates. For the 7.50% Non-Cumulative Perpetual Preferred Stock, Series A, the company has declared quarterly cash dividends of $46.88 per preferred share, equivalent to $0.4688 per depositary share, again with detailed record and payment dates.

The company’s earnings releases also reference share repurchase activity, including the number of shares repurchased and the total amount spent during certain periods. These disclosures provide insight into how First Merchants manages its capital structure over time, though the specific amounts are tied to particular quarters and may change in future periods.

Trademarks and branding

In its press releases, First Merchants Corporation notes that FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation. This indicates that the company has taken steps to protect its brand identity in connection with its banking and financial services activities.

FAQs about First Merchants Corporation (FRME)

• What is First Merchants Corporation?
  First Merchants Corporation is a financial holding company that operates in the commercial banking industry. It is headquartered in Muncie, Indiana and conducts its banking business through First Merchants Bank, which it describes as a full-service bank charter.
• How does First Merchants Corporation describe its business segment?
  The company reports that it operates in a single segment, community banking. Through this segment, it provides financial services such as personal banking, business banking, real estate mortgage lending, cash management services, brokerage, wealth management, and insurance.
• On which exchange does FRME trade?
  First Merchants Corporation’s common stock trades on the Nasdaq Global Select Market under the symbol FRME. This information is confirmed in multiple Form 8-K filings and company press releases.
• What is FRMEP?
  FRMEP is the Nasdaq Global Select Market symbol for depositary shares of First Merchants Corporation’s 7.50% Non-Cumulative Perpetual Preferred Stock, Series A. Each depositary share represents a 1/100th interest in a share of the Series A preferred stock, as described in the company’s press releases and SEC filings.
• What services does First Merchants Bank provide?
  According to the company’s description, First Merchants Bank offers personal banking, business banking, real estate mortgage lending, cash management services, brokerage, wealth management, and insurance. These services are delivered locally by bankers and are reported within the community banking segment.
• What is First Merchants Private Wealth Advisors?
  First Merchants Private Wealth Advisors is identified by the company as a division of First Merchants Bank. It operates under the bank charter and is associated with the brokerage and wealth management services that the company lists among its offerings.
• Has First Merchants Corporation announced any merger activity?
  Yes. On September 25, 2025, First Merchants Corporation and First Savings Financial Group, Inc. announced that they had entered into a definitive merger agreement under which First Savings will merge with and into First Merchants in an all-stock transaction. The related Form 8-K and press release describe the terms, including the exchange ratio and the anticipated timing, subject to shareholder and regulatory approvals.
• Does First Merchants Corporation pay dividends?
  The company has announced cash dividends on both its common stock and its 7.50% Non-Cumulative Perpetual Preferred Stock, Series A. Press releases and Form 8-K filings detail the dividend amounts per share or per depositary share, along with record dates and payment dates.
• Where is First Merchants Corporation incorporated?
  First Merchants Corporation is incorporated in Indiana, as indicated in its Form 8-K filings, which list Indiana as the state of incorporation and provide its Commission File Number and employer identification number.
• How does First Merchants communicate financial results to investors?
  The company issues press releases and files Form 8-K reports to present its quarterly financial results. It also schedules earnings conference calls and webcasts, and it furnishes slide presentations as exhibits to its Form 8-K filings, providing additional detail and commentary for analysts and investors.