First Merchants Corporation
| Company type | Public |
|---|---|
| Industry | Financial services |
| Founded | 1892 |
| Headquarters | Muncie, Indiana , United States |
Area served | Central Indiana and surrounding regions |
| Products | Commercial banking, personal banking, investment advisory services |
Number of employees | Over 1,000 (2022) |
| Website | www |
First Merchants Corporation operates as a financial holding entity headquartered in Muncie, Indiana, primarily serving the Central Indiana region. The corporation encompasses First Merchants Bank along with its division, First Merchants Private Wealth Advisors. Trading on NASDAQ under the ticker FRME, the company reported total assets amounting to $18.2 billion as of March 2023. Its portfolio of services includes commercial and personal banking, as well as investment advisory offerings.
History
The growth of First Merchants Bank has been driven by both internal development and targeted acquisitions over the years, including:
- 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, Columbus, OH
- 2017 – iAB Bank, Fort Wayne, IN
- 2019 – Monroe Bank and Trust, Monroe, MI
- 2020 – Hoosier Trust Company, Indianapolis, IN
- 2022 – Level One Bank, Farmington Hills, MI
In a branding initiative in 2016, a baseball and softball facility at Ball State University was renamed the First Merchants Ballpark Complex, bolstering the corporation’s regional presence.
Recognition
Forbes honored First Merchants Bank in June 2022 by naming it one of America’s Best Banks for the fifth year running. Earlier in March 2021, Forbes had similarly acknowledged it as a leading U.S. bank for the fourth consecutive year. The institution secured the #2 spot on Forbes' "America's Best Banks" ranking in January 2019 after rising from #4 in the previous year.
In May 2022, the Best Companies Group ranked First Merchants as the fourth-best among "Great Employers to Work for in Indiana." The Indiana Chamber of Commerce recognized it as one of the “Best Places to Work in Indiana” during both 2018 and 2019 within companies exceeding 1,000 employees. Additional accolades include being named a “Best Place to Work” by Columbus Business First in 2018 and receiving recognition as one of Ohio’s Best Employers in 2019 by Ohio SHRM State Council alongside Crain's Cleveland Business and Best Companies Group. The bank earned comparable distinctions in Illinois for both 2018 and 2019. As of June 2022, Comparably awarded First Merchants an A+ Culture Score with a rating of 4.7 out of 5 stars based on employee feedback.
In June 2022 evaluations by Forbes and Statistica placed First Merchants among the top "In-State Banks." It was also recognized by Newsweek magazine as a leading large bank within the United States and ranked among the top twenty banks nationwide according to S&P Global Market Intelligence in that same year.