Building a $21B Banking Giant
The combined institution will boast assets of roughly $21 billion, positioning First Merchants as the second-largest financial holding company headquartered in Indiana. Operating under the First Merchants Bank name, the merged company will span 127 branches across Indiana, Michigan, and Ohio.
System integration is slated for completion by the second quarter of 2026, the companies said.
A Legacy of Nearly 90 Years
“For nearly 90 years, First Savings Bank has delivered strong returns for shareholders while staying deeply committed to our communities,” said Larry Myers, First Savings president and CEO. “By joining with First Merchants, we are ensuring those values endure while opening the door to exciting new opportunities for customers, employees, and investors.”
As part of the agreement, Myers will be appointed to the First Merchants board of directors.
Road Ahead: Approvals and Closing
The deal is expected to close in the first quarter of 2026, pending approval from shareholders of First Savings, regulatory clearance, and customary closing conditions.
Full details of the legal counsel advising both sides were not immediately available Thursday.
