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FRMENasdaqNational Commercial BanksFiscal year ends December 31Also trades as FRMEP

FIRST MERCHANTS CORP

Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q on Jul 31, 2026
$39.38−0.22 (-0.56%)

Close on Oct 19, 2026

Market cap
$2.40B
P/E (TTM)
11.6
Dividend yield
3.63%

About First Merchants

National Commercial Banks, SIC 6021

First Merchants Corporation operates as a financial holding company providing community banking services through its principal subsidiary, First Merchants Bank. The company conducts business across one primary segment, delivering a wide selection of commercial and retail banking products alongside mortgage and wealth management solutions. Commercial clients have access to capital debt financing, depository offerings, and treasury management, while individual consumers can obtain deposit accounts and consumer loans. Additionally, residential mortgage lending assists buyers and property owners, while the Private Wealth Advisors division delivers comprehensive wealth planning, investment management, and fiduciary estate services to individuals and families.

The organization maintains its corporate headquarters in Muncie, Indiana. Its physical footprint comprises 111 banking centers situated across Indiana, Ohio, and Michigan, augmented by mobile and digital banking delivery systems. Following an acquisition completed in early 2026, the branch network expanded into southern Indiana markets with 16 additional banking centers. In total, the institution employs 2,086 full-time equivalent personnel to support its regional banking operations.

Summary of the business section of First Merchants's latest annual report, written by StockData.

Company profile

Company

Legal name
FIRST MERCHANTS CORP
Founded
1982
Headquarters
Muncie, IN
Address
200 E Jackson St, Po Box 792 47308-0792
Phone
(765) 747-1500
Employees
2,086, Dec 31, 2025
Industry
National Commercial Banks
Incorporated in
Indiana
Fiscal year ends
December 31
Auditor
Forvis Mazars, LLP, Indianapolis, IN

Stock & identifiers

Ticker
FRME
Other tickers
FRMEP
Exchange
Nasdaq
Shares outstanding
63M, Jul 27, 2026
Public float
$2.20B, Jun 30, 2025
Filer category
Large accelerated filer
Stock splits
3-for-2, Oct 26, 1998; 3-for-2, Oct 30, 1995; 3-for-2, Jan 26, 1993
SEC CIK
712534
CUSIP
320817109
ISIN
US3208171096
LEI
TZTBT0OTGQ2FEK6XMX94
EIN
35-1544218

Executives and directors

Officers and directors who filed ownership reports (Forms 3, 4, 5) in the last two years

NamePositionShares owned
Mark K. HardwickChief Executive Officer, Director150,525
Stephan FluhlerChief Information Officer25,466
Eva D. ScurlockChief Risk Officer31,523
Michele KawieckiChief Financial Officer74,412
John MartinChief Credit Officer71,549
Joseph C. PetersonChief Commercial Officer45,482
Steven C. HarrisChief Human Resources Officer22,797
Michael J. StewartPresident123,069
Chad KimballChief Risk Officer18,090
Michael R. BecherDirector29,699
Michael C. RechinDirector95,544
Larry W. MyersDirector314,534
Paul G. FultzDirector518
Howard HaldermanDirector29,788
Jean L. WojtowiczDirector66,731
Kevin D. JohnsonDirector9,498
Michael J. FisherDirector19,029
Mung ChiangDirector8,864
Jason R. SondhiDirector11,098
Clark C. KelloggDirector17,382
Susan W. BrooksDirector12,572
Gary LehmanDirector53,775
Patrick J. FehringDirector120,485

CEO pay and shareholder return

Pay versus performance table from the proxy statement

Fiscal yearCEO total payCEO pay actually paidOther executives (avg)Value of $100 investedPeer group
FY2025
Mark K. Hardwick
$2.40M$2.25M$1.29M$119$153
FY2024
Mark K. Hardwick
$2.08M$2.24M$1.19M$114$130
FY2023
Mark K. Hardwick
$1.79M$1.69M$970.09K$102$116
FY2022
Mark K. Hardwick
$1.87M$1.85M$1.03M$108$116
FY2021
Mark K. Hardwick
$1.45M$1.58M$1.06M$107$125
FY2020
Mark K. Hardwick
$1.40M$1.17M$666.53K$93$91

“Actually paid” adjusts reported pay for changes in the value of equity awards. Shareholder return assumes $100 invested at the start of the measurement period, as disclosed by the company.

Employees

Headcount reported in annual reports

“As of December 31, 2025, the Corporation and its subsidiaries had 2,086 full-time equivalent employees.”

Corporate history

Events identified from SEC filings

DateEventDetails
Oct 10, 2025MergerRegistration of securities for a merger or exchange offer (S-4)
Mar 30, 2022ListingRegistration of securities on an exchange (Form 8-A)
Dec 23, 2021MergerRegistration of securities for a merger or exchange offer (S-4)
Dec 3, 2018MergerRegistration of securities for a merger or exchange offer (S-4)
Apr 24, 2017MergerRegistration of securities for a merger or exchange offer (S-4)
Mar 17, 2017MergerRegistration of securities for a merger or exchange offer (S-4)
Aug 26, 2015MergerRegistration of securities for a merger or exchange offer (S-4)
Sep 9, 2014MergerRegistration of securities for a merger or exchange offer (S-4)
Jan 28, 2014Acquisition / saleCompletion of acquisition or disposition of assets (8-K Item 2.01)
Nov 12, 2013Acquisition / saleCompletion of acquisition or disposition of assets (8-K Item 2.01)
Jul 3, 2013MergerRegistration of securities for a merger or exchange offer (S-4)
Feb 13, 2012Acquisition / saleCompletion of acquisition or disposition of assets (8-K Item 2.01)
Jan 2, 2009Acquisition / saleCompletion of acquisition or disposition of assets (8-K Item 2.01)
Sep 24, 2008MergerRegistration of securities for a merger or exchange offer (S-4)
Jun 29, 2007DelistingNotice of delisting from exchange (Form 25)
Dec 6, 2002MergerRegistration of securities for a merger or exchange offer (S-4)
Dec 21, 2001MergerRegistration of securities for a merger or exchange offer (S-4)
Apr 6, 2001MergerRegistration of securities for a merger or exchange offer (S-4)
Mar 24, 2000MergerRegistration of securities for a merger or exchange offer (S-4)
Jan 7, 1999MergerRegistration of securities for a merger or exchange offer (S-4)
Dec 29, 1998MergerRegistration of securities for a merger or exchange offer (S-4)
Apr 9, 1996MergerRegistration of securities for a merger or exchange offer (S-4)