NEWS

First Merchants’ commitment to our communities is at the heart of what we do – and the backbone of that commitment is our dedication to service and volunteerism.

From Madam C.J. Walker to Oprah Winfrey, we owe a lot to Black entrepreneurs. August is National Black Business Month, where we celebrate the innovation, perseverance, and success of Black entrepreneurs, and take stock of our own work as allies of this vital community. First Merchants is proud to support Black-owned businesses, providing capital, sound advice, and adaptable strategies to help entrepreneurs succeed.

CLEVELAND, Ohio – First Merchants Bank was recognized by Crain’s Cleveland Business as one of the Best Employers across the entire state of Ohio in 2022. This achievement is based on strong scores for company policies and employee engagement as well as employee benefits and satisfaction.

Second Quarter Financial Results: First Merchants Corporation (the “Corporation”) has reported second quarter 2022 net income available to common stockholders of $38.5 million compared to $55.6 million during the same period in 2021. Diluted earnings per common share for the period totaled $.63 per share compared to the second quarter of 2021 result of $1.03 per share. Current quarter results included acquisition costs of $29.3 million resulting in a reduction of $.38 of diluted earnings per common share. The acquisition costs primarily consist of employee retention bonuses and severance, contract termination charges, professional fees, and current expected credit losses (“CECL”) Day 1 provision expense.

First Merchants Bank announced today it has been recognized by Comparably for Best Leadership Team. This annual award identifies leaders and leadership teams who are driving positive cultural change across companies large and small. First Merchants Bank was selected by Comparably as being in the top 5% of all financial services companies evaluated for their leadership qualities.