FRMENasdaqNational Commercial BanksFiscal year ends December 31Also trades as FRMEP
FIRST MERCHANTS CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$39.38−0.22 (-0.56%)
Close on Oct 19, 2026
- Market cap
- $2.46B
- P/E (TTM)
- 12.6
- Dividend yield
- 3.63%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
47M
Shares held, 13F filers
Institutional holders
307
34 new, 23 sold out
Net institutional buying
1M
In Q2 2026
Insider trades, 12 months
0 buys · 9 sales
Net sold $1.94M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 4,407,367 | 7.60% | 13G (passive) amendment | Sep 30, 2025 |
| Vanguard Portfolio Management | 3,408,096 | 5.37% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 3,199,084 | 5.04% | 13G (passive) | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 3,074,411 | 5.10% | 13G (passive) | Dec 29, 2023 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of FRME | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 5,324,728 | – | $232.64M | +425,372 | 0.00% |
| Dimensional Fund Advisors LP | 3,689,776 | – | $161.21M | +93,759 | 0.03% |
| Vanguard Portfolio Management LLC | 3,402,832 | – | $148.67M | +43,798 | 0.01% |
| Vanguard Capital Management LLC | 2,720,680 | – | $118.87M | −9,931 | 0.00% |
| State Street Corp | 2,551,308 | – | $111.47M | +311,540 | 0.00% |
| Earnest Partners LLC | 2,174,024 | – | $94.98M | −81,566 | 0.34% |
| Geode Capital Management, LLC | 1,670,991 | – | $73.02M | +97,210 | 0.00% |
| Nuveen, LLC | 1,058,876 | – | $46.26M | +15,553 | 0.01% |
| Victory Capital Management Inc | 1,042,728 | – | $45.56M | +47,733 | 0.03% |
| Systematic Financial Management LP | 850,405 | – | $37.15M | −11,590 | 0.74% |
| First Trust Advisors LP | 776,088 | – | $33.91M | +50,829 | 0.02% |
| Charles Schwab Investment Management Inc | 711,910 | – | $31.10M | −7,515 | 0.00% |
| FJ Capital Management LLC | 711,425 | – | $31.08M | – | 4.03% |
| Goldman Sachs Group Inc | 697,055 | – | $30.45M | −440,130 | 0.00% |
| Wellington Management Group Llp | 696,621 | – | $30.44M | −310,614 | 0.01% |
| PL Capital Advisors, LLC | 686,333 | – | $29.99M | – | 8.34% |
| Northern Trust Corp | 683,988 | – | $29.88M | +30,629 | 0.00% |
| Qube Research & Technologies Ltd | 648,844 | – | $28.35M | −1,555 | 0.03% |
| JPMorgan Chase & Co | 639,609 | – | $27.90M | +109,891 | 0.00% |
| William Blair Investment Management, LLC | 622,443 | – | $27.19M | −167,439 | 0.08% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|
| Q2 2026 | 307 | 47M | 34 / 129 | 86 / 23 | 3M | 2M |
| Q1 2026 | 300 | 46M | 53 / 128 | 71 / 30 | 12M | 3M |
| Q4 2025 | 282 | 44M | 32 / 98 | 96 / 25 | 3M | 3M |
| Q3 2025 | 282 | 45M | 31 / 105 | 81 / 25 | 4M | 3M |
| Q2 2025 | 278 | 44M | 38 / 90 | 89 / 27 | 2M | 2M |
| Q1 2025 | 272 | 44M | 38 / 80 | 92 / 16 | 4M | 2M |
| Q4 2024 | 253 | 44M | 40 / 85 | 82 / 26 | 3M | 3M |
| Q3 2024 | 243 | 44M | 31 / 88 | 71 / 18 | 7M | 2M |
| Q2 2024 | 231 | 43M | 26 / 88 | 70 / 27 | 2M | 3M |
| Q1 2024 | 233 | 45M | 29 / 64 | 86 / 23 | 2M | 2M |
| Q4 2023 | 229 | 45M | 41 / 74 | 79 / 22 | 4M | 2M |
| Q3 2023 | 213 | 43M | 24 / 83 | 63 / 21 | 2M | 2M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of FRME | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 1,903,958 | – | $83.18M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,713,468 | – | $74.86M | 0.09% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 1,375,470 | – | $60.09M | 0.03% | Jun 30, 2026 |
| Harbor Small Cap Value Fund | 1,013,346 | – | $43.72M | 1.74% | Jul 31, 2026 |
| Vanguard Small-Cap Value Index Fund | 869,799 | – | $38.00M | 0.06% | Jun 30, 2026 |
| U.S. Small Cap Value Portfolio | 841,426 | – | $36.30M | 0.19% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 708,014 | – | $30.93M | 0.03% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 698,296 | – | $30.12M | 0.09% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 611,904 | – | $26.73M | 0.18% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Regional Banking ETF | 571,434 | – | $24.97M | 0.53% | Jun 30, 2026 |
| First Trust SMID Cap Rising Dividend Achievers ETF | 535,992 | – | $23.42M | 0.21% | Jun 30, 2026 |
| Dimensional U.S. Targeted Value ETF | 408,312 | – | $17.61M | 0.12% | Jul 31, 2026 |
| U.S. Targeted Value Portfolio | 391,770 | – | $16.90M | 0.10% | Jul 31, 2026 |
| Fidelity Enhanced Small Cap Core ETF | 372,387 | – | $16.27M | 0.28% | Jun 30, 2026 |
| Dimensional US Small Cap Value ETF | 358,849 | – | $15.48M | 0.19% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | Latest filing |
|---|---|---|---|
| Mark K. Hardwick | Chief Executive Officer, Director | 150,525 | Sep 22, 2026 |
| Stephan Fluhler | Chief Information Officer | 25,466 | Sep 22, 2026 |
| Eva D. Scurlock | Chief Risk Officer | 31,523 | Aug 12, 2026 |
| Michele Kawiecki | Chief Financial Officer | 74,412 | Aug 4, 2026 |
| John Martin | Chief Credit Officer | 71,549 | Aug 4, 2026 |
| Joseph C. Peterson | Chief Commercial Officer | 45,482 | Aug 4, 2026 |
| Steven C. Harris | Chief Human Resources Officer | 22,797 | Aug 4, 2026 |
| Michael J. Stewart | President | 123,069 | Aug 4, 2026 |
| Chad Kimball | Chief Risk Officer | 18,090 | Aug 5, 2025 |
| Michael R. Becher | Director | 29,699 | Jul 2, 2026 |
| Michael C. Rechin | Director | 95,544 | Jul 2, 2026 |
| Larry W. Myers | Director | 314,534 | Jul 2, 2026 |
| Paul G. Fultz | Director | 518 | Jul 2, 2026 |
| Howard Halderman | Director | 29,788 | Jul 2, 2026 |
| Jean L. Wojtowicz | Director | 66,731 | Jul 2, 2026 |
| Kevin D. Johnson | Director | 9,498 | Jul 2, 2026 |
| Michael J. Fisher | Director | 19,029 | Jul 2, 2026 |
| Mung Chiang | Director | 8,864 | Jul 2, 2026 |
| Jason R. Sondhi | Director | 11,098 | Jul 2, 2026 |
| Clark C. Kellogg | Director | 17,382 | Jul 2, 2026 |
| Susan W. Brooks | Director | 12,572 | Jul 2, 2026 |
| Gary Lehman | Director | 53,775 | Apr 2, 2026 |
| Patrick J. Fehring | Director | 120,485 | Oct 2, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Stephan Fluhler Chief Information Officer | Aug 19, 2026 | Sale | −4,080 | $43.20 | $176.26K | 21,694 |
| Eva D. Scurlock Chief Risk Officer | Aug 3, 2026 | Award | +4,000 | $43.63 | $174.52K | 31,523 |
| Michele Kawiecki Chief Financial Officer | Aug 3, 2026 | Award | +13,000 | $43.63 | $567.19K | 72,404 |
| Stephan Fluhler Chief Information Officer | Aug 3, 2026 | Award | +5,000 | $43.63 | $218.15K | 25,774 |
| Michael J. Stewart President | Aug 3, 2026 | Award | +16,000 | $43.63 | $698.08K | 115,834 |
| Steven C. Harris Chief Human Resources Officer | Aug 3, 2026 | Award | +3,000 | $43.63 | $130.89K | 22,649 |
| Eva D. Scurlock Chief Risk Officer | Aug 3, 2026 | Award | +700 | $43.63 | $30.54K | 28,223 |
| Mark K. Hardwick Chief Executive Officer, Director | Aug 3, 2026 | Award | +21,000 | $43.63 | $916.23K | 132,620 |
| Joseph C. Peterson Chief Commercial Officer | Aug 3, 2026 | Award | +8,000 | $43.63 | $349.04K | 45,482 |
| John Martin Chief Credit Officer | Aug 3, 2026 | Award | +8,000 | $43.63 | $349.04K | 71,549 |
| Eva D. Scurlock Chief Risk Officer | Aug 2, 2026 | Tax withholding | −224 | $43.14 | $9.66K | 27,523 |
| Michele Kawiecki Chief Financial Officer | Aug 2, 2026 | Tax withholding | −2,910 | $43.14 | $125.54K | 59,404 |
| Stephan Fluhler Chief Information Officer | Aug 2, 2026 | Tax withholding | −1,532 | $43.14 | $66.09K | 20,774 |
| Michael J. Stewart President | Aug 2, 2026 | Tax withholding | −6,059 | $43.14 | $261.39K | 99,834 |
| Steven C. Harris Chief Human Resources Officer | Aug 2, 2026 | Tax withholding | −612 | $43.14 | $26.40K | 19,649 |
| Eva D. Scurlock Chief Risk Officer | Aug 2, 2026 | Tax withholding | −224 | $43.14 | $9.66K | 27,523 |
| Mark K. Hardwick Chief Executive Officer, Director | Aug 2, 2026 | Tax withholding | −5,821 | $43.14 | $251.12K | 111,620 |
| Joseph C. Peterson Chief Commercial Officer | Aug 2, 2026 | Tax withholding | −919 | $43.14 | $39.65K | 37,482 |
| John Martin Chief Credit Officer | Aug 2, 2026 | Tax withholding | −1,761 | $43.14 | $75.97K | 63,549 |
| Larry W. Myers Director | Jun 30, 2026 | Award | +518 | $43.69 | $22.63K | 90,269 |
| Michael C. Rechin Director | Jun 30, 2026 | Award | +554 | $43.69 | $24.20K | 90,424 |
| Michael R. Becher Director | Jun 30, 2026 | Award | +554 | $43.69 | $24.20K | 29,699 |
| Susan W. Brooks Director | Jun 30, 2026 | Award | +518 | $43.69 | $22.63K | 12,572 |
| Clark C. Kellogg Director | Jun 30, 2026 | Award | +518 | $43.69 | $22.63K | 15,858 |
| Jason R. Sondhi Director | Jun 30, 2026 | Award | +536 | $43.69 | $23.42K | 10,604 |
| Mung Chiang Director | Jun 30, 2026 | Award | +500 | $43.69 | $21.85K | 8,864 |
| Michael J. Fisher Director | Jun 30, 2026 | Award | +500 | $43.69 | $21.85K | 19,029 |
| Paul G. Fultz Director | Jun 30, 2026 | Award | +518 | $43.69 | $22.63K | 518 |
| Kevin D. Johnson Director | Jun 30, 2026 | Award | +500 | $43.69 | $21.85K | 9,498 |
| Jean L. Wojtowicz Director | Jun 30, 2026 | Award | +715 | $43.69 | $31.24K | 66,731 |
| Howard Halderman Director | Jun 30, 2026 | Award | +536 | $43.69 | $23.42K | 29,773 |
| Larry W. Myers Director | Jun 12, 2026 | Sale | −10,000 | $42.00 | $420.00K | 89,751 |
| Larry W. Myers Director | Jun 11, 2026 | Sale | −10,000 | $41.50 | $415.00K | 99,751 |
| Larry W. Myers First Vice President, Director | May 5, 2026 | Sale | −0.41 | $40.54 | $17 | 109,751 |
| Mung Chiang Director | Mar 31, 2026 | Award | +584 | $38.73 | $22.62K | 8,358 |
| Clark C. Kellogg Director | Mar 31, 2026 | Award | +584 | $38.73 | $22.62K | 15,271 |
| Jason R. Sondhi Director | Mar 31, 2026 | Award | +605 | $38.73 | $23.43K | 9,550 |
| Kevin D. Johnson Director | Mar 31, 2026 | Award | +564 | $38.73 | $21.84K | 8,983 |
| Michael J. Fisher Director | Mar 31, 2026 | Award | +564 | $38.73 | $21.84K | 18,457 |
| Howard Halderman Director | Mar 31, 2026 | Award | +605 | $38.73 | $23.43K | 29,047 |
| Michael C. Rechin Director | Mar 31, 2026 | Award | +625 | $38.73 | $24.21K | 89,870 |
| Michael R. Becher Director | Mar 31, 2026 | Award | +625 | $38.73 | $24.21K | 29,145 |
| Susan W. Brooks Director | Mar 31, 2026 | Award | +584 | $38.73 | $22.62K | 12,015 |
| Gary Lehman Director | Mar 31, 2026 | Award | +564 | $38.73 | $21.84K | 53,775 |
| Jean L. Wojtowicz Director | Mar 31, 2026 | Award | +806 | $38.73 | $31.22K | 65,519 |
| Larry W. Myers First Vice President, Director | Feb 26, 2026 | Sale | −5,000 | $41.50 | $207.50K | 109,491 |
| Larry W. Myers First Vice President, Director | Feb 26, 2026 | Sale | −5,000 | $41.50 | $207.50K | 109,491 |
| Eva D. Scurlock Chief Risk Officer | Feb 12, 2026 | Option exercise | +5,986 | $21.79 | $130.43K | 31,492 |
| Eva D. Scurlock Chief Risk Officer | Feb 12, 2026 | Option exercise | +681 | $21.79 | $14.84K | 25,506 |
| Eva D. Scurlock Chief Risk Officer | Feb 12, 2026 | Tax withholding | −3,810 | $41.64 | $158.65K | 27,682 |
| Eva D. Scurlock Chief Risk Officer | Feb 12, 2026 | Option exercise | +4,762 | $26.04 | $124.00K | 24,825 |
| Stephan Fluhler Chief Information Officer | Feb 11, 2026 | Sale | −4,161 | $41.96 | $174.60K | 22,000 |
| Steven C. Harris Chief Human Resources Officer | Feb 8, 2026 | Tax withholding | −970 | $42.34 | $41.07K | 19,884 |
| Michele Kawiecki Chief Financial Officer | Feb 8, 2026 | Tax withholding | −1,782 | $42.34 | $75.45K | 61,221 |
| John Martin Chief Credit Officer | Feb 8, 2026 | Tax withholding | −5,398 | $42.34 | $228.55K | 64,878 |
| Stephan Fluhler Chief Information Officer | Feb 8, 2026 | Tax withholding | −1,795 | $42.34 | $76.00K | 26,161 |
| Joseph C. Peterson Chief Commercial Officer | Feb 8, 2026 | Tax withholding | −1,789 | $42.34 | $75.75K | 38,025 |
| Eva D. Scurlock Chief Risk Officer | Feb 6, 2026 | Sale | −3,227 | $42.29 | $136.47K | 20,063 |
| Susan W. Brooks Director | Dec 31, 2025 | Award | +604 | $37.48 | $22.64K | 11,395 |
| Jean L. Wojtowicz Director | Dec 31, 2025 | Award | +833 | $37.48 | $31.22K | 64,183 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| H. Fluhler Stephan Chief Information Officer | Aug 19, 2026 | 4,080 | $176.26K | Aug 19, 2026 | Vested Restricted Stock Awards |
| W. Myers Larry Director | Jun 11, 2026 | 20,000 | $830.00K | Jun 11, 2026 | Vested Restricted Shares |
| W. Myers Larry Director, Officer - First Vice President | Feb 26, 2026 | 25,000 | $1.03M | Feb 26, 2026 | Vested Restricted Shares |
| H. Fluhler Stephan Chief Information Officer | Feb 10, 2026 | 4,161 | $174.35K | Feb 10, 2026 | Vested Restricted Stock Awards |
| Eva D. Scurlock Chief Risk Officer | Feb 4, 2026 | 3,227 | $131.69K | Feb 4, 2026 | Exercised Options |
| H. Fluhler Stephan Chief Information Officer | Nov 3, 2025 | 5,689 | $203.38K | Nov 4, 2025 | Vested Restricted Stock Awards |
| J. Stewart Michael President | Dec 13, 2024 | 7,248 | $313.04K | Dec 13, 2024 | RSA Dividends |
| J. Stewart Michael President | Dec 4, 2024 | 7,248 | $315.58K | Dec 5, 2024 | RSA Dividends |
| J. Fehring Patrick Director | Nov 7, 2024 | 26,437 | $1.14M | Nov 7, 2024 | Stock Option |
| K. Hardwick Mark Officer | Aug 9, 2024 | 11,833 | $420.78K | Aug 9, 2024 | 401k Plan |
| J. Fehring Patrick Director | May 30, 2024 | 23,936 | $778.06K | May 30, 2024 | Stock Option Exercise |
| Fluhler StephanH. Chief Information Officer | Feb 26, 2024 | 3,192 | $108.94K | Feb 26, 2024 | Vest Restricted Stock Awards |
| J. Fehring Patrick Director | Feb 12, 2024 | 9,903 | $346.61K | Feb 13, 2024 | Vested Restricted Stock Awards plus Dividends Paid and Reinvested Quarterly |
| C. Rechin Michael Director | Dec 14, 2023 | 10,000 | $375.40K | Dec 14, 2023 | Vested Restricted Stock Awards plus Dividends Paid and Reinvested Quarterly |