Recent Updates — FRMEP

First Merchants Corporation announced that CEO Mark K. Hardwick will retire effective January 1, 2027, after 29 years with the company. President Michael J. Stewart will succeed him as President and Chief Executive Officer on the same date. The transition is part of an executive succession plan, with no additional compensatory arrangements or material contracts disclosed for Mr. Stewart. First Merchants Corporation operates in the banking industry, providing commercial and consumer banking services through its subsidiary.

First Merchants Corporation announced the pricing of a $100 million registered public offering of 6.750% Fixed-to-Floating Rate Subordinated Notes due 2036 on September 23, 2026. The notes will initially bear interest at 6.750% per annum from September 25, 2026, through September 30, 2031, with semiannual payments commencing April 1, 2027. After October 1, 2031, the rate will reset quarterly to Three-Month Term SOFR plus 202 basis points. The company intends to use net proceeds for general corporate purposes, including common share repurchases, and expects the notes to qualify as Tier 2 capital. Piper Sandler is acting as sole book-running manager with Keefe, Bruyette & Woods, Hovde Group, and Brean Capital as co-managers. Closing is expected on or about September 25, 2026.

First Merchants Corporation declared a quarterly cash dividend of $0.37 per common share on August 14, 2026. The dividend is payable on September 18, 2026 to shareholders of record as of September 4, 2026. First Merchants Corporation operates in the financial services industry as a bank holding company.

First Merchants Corporation declared a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, payable on August 14, 2026, to stockholders of record on July 30, 2026. First Merchants Corporation is a financial services company providing banking and wealth management services.

Dr. Mung Chiang resigned from the Board of Directors of First Merchants Corporation, effective July 1, 2026. The resignation was due to professional relocation outside the primary market area. Following the resignation, the Board size will be decreased from thirteen members to twelve. First Merchants Corporation is a financial services company providing banking and commercial services.