FIRST MERCHANTS Business Summary

First Merchants Corp (FRME) is a $21.4 billion financial holding company that generates revenue primarily through net interest income from a diversified commercial and consumer loan portfolio, complemented by fee-based income from its Wealth Management and Community Banking segments. Following the February 1, 2026, merger with First Savings Financial Group, the corporation significantly expanded its Midwest footprint into Southern Indiana and the Louisville MSA, enhancing its scale and core deposit base. The company operates through First Merchants Bank and its division, First Merchants Private Wealth Advisors, providing a comprehensive suite of trust, mortgage, and advisory services. As a premier mid-cap regional player, First Merchants competes directly with First Financial Bancorp, First Busey Corporation, Old National Bancorp, and Enterprise Financial Services, distinguishing itself through a relationship-centric model and a disciplined efficiency ratio of approximately 54.5%. First Merchants Corp was incorporated in 1982 and is currently led by Chief Executive Officer Mark K. Hardwick, a 28-year veteran who rose from Corporate Controller to CFO and COO before assuming the CEO role in 2021. The leadership team includes President Michael J. Stewart, who oversees regional and commercial banking operations, and Executive Vice President and CFO Michele M. Kawiecki, a former UMB Financial executive with extensive experience in capital management. Governance is directed by Board Chair Jean Wojtowicz and was recently bolstered by the February 2026 appointment of Larry W. Myers, the former CEO of First Savings Bank, to the Board of Directors. The company’s strategic stability is reinforced by high institutional ownership from major asset managers, including BlackRock and Vanguard, reflecting its status as a top-performing regional banking staple in the Midwest.