First Merchants Corporation

{{Short description|Financial holding company in Indiana, United States}}

{{Infobox company

| name = First Merchants Corporation

| logo = First Merchants Corporation logo.png

| image = Jackson and Jefferson parking lot in Muncie.jpg

| image_caption = Corporate office in Muncie, Indiana

| trading_name = First Merchants

| type = Public

| traded_as = {{NASDAQ|FRME}}
Russell 2000 Component

| key_people = Mark Hardwick (CEO)

| products = Banking, Trust

| assets = {{profit}}$18.2 billion USD (2023)

| num_employees = 2,224 (2023)

| homepage = {{url|firstmerchants.com}}

| foundation = {{start date and age|1892}}

| location = Muncie, Indiana, United States

}}

First Merchants Corporation is a financial holding company in Central Indiana,{{Cite web|url=https://www.firstmerchants.com/investors|title=Investors {{!}} First Merchants|website=www.firstmerchants.com|access-date=2016-05-05}} headquartered in Muncie, Indiana. The Corporation includes First Merchants Bank and First Merchants Private Wealth Advisors (a division of First Merchants Bank). The company is listed on the NASDAQ as FRME. As of March 2023, total asset size of First Merchants Corporation was $18.2 billion.{{Cite web|title=Investor Relations {{!}} First Merchants Corporation|url=https://ir.firstmerchants.com/investor-relations/|access-date=2022-04-01|website=ir.firstmerchants.com|language=en}} First Merchants offers commercial banking, personal banking, and investment advisor services.

History

First Merchants Bank has been growing both organically and through mergers and acquisitions. Banks acquired include:

  • 1893 – Merchants National Bank, Muncie, IN
  • 1988 – Pendleton Banking Company, Pendleton, IN
  • 1991 – First United Bank, Middletown, IN
  • 1996 – Union County National Bank, Liberty, IN
  • 1996 – The Randolph County Bank, Winchester, IN
  • 1999 – First National Bank of Portland, Portland, IN
  • 1999 – Anderson Community Bank, Anderson, IN
  • 2000 – Decatur Bank & Trust, Decatur, IN
  • 2001 – Frances Slocum Bank & Trust, Wabash, IN
  • 2002 – Lafayette Bank & Trust, Lafayette, IN
  • 2003 – Commerce National Bank, Columbus, OH
  • 2008 – Lincoln Bank, Plainfield, IN
  • 2012 – Shelby County Bank, Shelbyville, IN
  • 2013 – Citizens Financial Bank, Munster, IN
  • 2014 – Community Bank, Noblesville, IN
  • 2015 – Cooper State Bank, Columbus, OH
  • 2015 – Ameriana Bank, New Castle, IN
  • 2017 – Arlington Bank,{{Cite web|title=First Merchants Corporation Completes its Merger with The Arlington Bank|url=https://www.firstmerchants.com/news/2017/05/22/first-merchants-corporation-completes-its-merger-with-the-arlington-bank|access-date=2017-05-22|website=Default|language=en}} Columbus, OH
  • 2017 – iAB Bank,{{Cite web|title=First Merchants Corporation Completes its Merger with Independent Alliance Banks, Inc.|url=https://www.firstmerchants.com/news/news-detail/2017/07/17/first-merchants-corporation-completes-its-merger-with-independent-alliance-banks-inc|access-date=2017-07-27|website=Default|language=en}} Fort Wayne, IN
  • 2019 – Monroe Bank and Trust,{{Cite web|title=First Merchants Finalizes its Merger with Monroe Bank & Trust|url=https://www.firstmerchants.com/news/news-detail/2019/09/03/first-merchants-finalizes-its-merger-with-monroe-bank-trust|access-date=2019-09-03|website=Default|language=en}} Monroe, MI
  • 2020 – Hoosier Trust Company,{{Cite web|title=First Merchants to acquire Hoosier Trust Company|url=https://www.firstmerchants.com/news/2020/11/09/first-merchants-to-acquire-hoosier-trust-company|access-date=2022-02-07|website=Default|language=en}} Indianapolis, IN
  • 2022 – Level One Bank,{{Cite web|title=First Merchants Corp. Completes Legal Closing of Level One Bancorp Merger |url=https://www.firstmerchants.com/news/news-detail/2022/04/01/first-merchants-corp-completes-legal-closing-of-level-one-bancorp-merger |access-date=2022-04-01 |website=First Merchants News |language=en}} Farmington Hills, MI

A baseball/softball complex on the campus of Ball State University was renamed the First Merchants Ballpark Complex in 2016.{{cite web |title=Ball Diamond at First Merchants Ballpark Complex |url=https://ballstatesports.com/facilities/ball-diamond-at-first-merchants-ballpark-complex/12 |website=Ball State University}}

Recognition

In June 2022, First Merchants Bank was ranked by Forbes as one of America's Best Banks.{{Cite web|title=America's Best Banks 2022 |url=https://www.forbes.com/lists/americas-best-banks/ |access-date=2022-06-29 |website=Forbes |language=en}} This is the 5th year in a row First Merchants has received this award. In March 2021, Forbes ranked First Merchants Bank as a top U.S. bank for the 4th consecutive year.{{Cite web|url=https://www.firstmerchants.com/news/news-detail/2021/03/17/forbes-ranks-first-merchants-as-top-bank-in-indiana-for-fourth-consecutive-year|title=Forbes ranks First Merchants as top U.S. Bank for fourth consecutive year|work=Default }} First Merchants Bank was ranked #2 on the “America's Best Bank list in January 2019.{{Cite web|url=https://www.firstmerchants.com/news/2019/02/04/general/first-merchants-jumps-to-2-on-forbes-list-of-top-u.s.-banks-for-2019/|title=Forbes ranks First Merchants Bank #2 of America's Best Banks|website=www.firstmerchants.com|language=en|access-date=2019-03-04}}{{Cite web|url=https://www.forbes.com/sites/kurtbadenhausen/2019/01/16/americas-best-banks-2019/|title=America's Best And Worst Banks 2019|last=Badenhausen|first=Kurt|website=Forbes|language=en|access-date=2019-03-04}} compiled by Forbes, up from their #4 ranking in 2018.{{Cite web|url=https://www.firstmerchants.com/news/2018/01/11/general/forbes-ranks-first-merchants-as-top-five-u.s.-bank-for-2018/|title=Forbes ranks First Merchants as top-five U.S. bank for 2018 {{!}} First Merchants Bank|website=www.firstmerchants.com|language=en|access-date=2019-03-04}}

In May, 2022, First Merchants Bank was voted 4th in "Great Employers to Work for in Indiana" by the Best Companies Group.{{Cite web |title=First Merchants Bank Named to Great Employers to Work for in Indiana 2022 List |url=https://www.firstmerchants.com/news/2022/05/26/first-merchants-bank-named-to-great-employers-to-work-for-in-indiana-2022-list |access-date=2022-06-07 |website=Default |language=en}} Additionally, First Merchants Bank was listed as one of the “Best Places to Work in Indiana” by the Indiana Chamber of Commerce in 2018 for Major Companies with 1,000+ employees{{Cite web|url=https://www.indianachamber.com/record-125-best-places-work-indiana-companies-named/|title=Record 125 Best Places to Work in Indiana Companies Named|last=Patrick|first=Rebecca|date=2018-02-19|website=Indiana Chamber of Commerce|language=en-US|access-date=2019-03-04}} and again in 2019.{{Cite web|url=https://www.indianachamber.com/2019-best-places-to-work-in-indiana-companies-named-chamber-announces-rankings-april-30/|title=2019 Best Places to Work in Indiana Companies Named; Chamber Announces Rankings April 30|last=Patrick|first=Rebecca|date=2019-02-18|website=Indiana Chamber of Commerce|language=en-US|access-date=2019-03-04}} First Merchants Bank was named as one of the “Best Places to Work” by Columbus Business First for 2018{{Cite web|url=https://www.bizjournals.com/columbus/best-places-to-work|title=Best Places To Work in Columbus Ohio|website=www.bizjournals.com|access-date=2019-03-04}} and as one of the 2019 Best Employers in Ohio, a list created by the Ohio SHRM State Council, Crain's Cleveland Business and Best Companies Group. First Merchants was also named one of the “Best Places to Work” in the state of Illinois in 2018{{Cite web|url=https://www.bestplacestoworkil.com/2018-best-places-to-work-in-illinois|title=2018 "Best Places to Work in Illinois"|website=www.bestplacestoworkil.com|access-date=2019-03-04}} and again in 2019. Comparably gives First Merchants Bank an A+ on Culture Score{{Cite web|url=https://www.comparably.com/companies/first-merchants|title=First Merchants Culture via Comparably|website=www.comparably.com/companies/first-merchants|access-date=2022-06-29}} with a 4.7 out of 5 star rating based on 133+ employee survey responses as of June 2022.

First Merchants Bank was rated as one of the best "In-State Banks" by Forbes and Statistica in June 2022.{{Cite web |title=Forbes Names First Merchants Bank Among Indiana's Best for Customer Experience |url=https://www.firstmerchants.com/news/2022/06/27/forbes-names-first-merchants-bank-among-indiana-s-best-for-customer-experience |access-date=2022-06-29 |website=Default |language=en}} First Merchants was also rated as one of the top big banks in the USA by Newsweek magazine in 2022{{cite web |title=Best Big Banks by State 2022 |url=https://www.newsweek.com/americas-best-banks-2022/best-big-banks-state |website=Newsweek |access-date=8 February 2022 |language=en |date=14 September 2021}} and one of the top 20 banks in the USA by S&P Global Market Intelligence in 2022.{{cite web |title=S&P Global Market Intelligence ranks First Merchants as a top 20 bank in 2021 |url=https://www.firstmerchants.com/news/news-detail/2022/03/30/s-p-global-market-intelligence-ranks-first-merchants-as-a-top-20-bank-in-2021 |website=S&P Global |access-date=30 March 2022 |language=en |date=30 March 2022}}

References

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