First Merchants

Indiana bank cutting 80 workers after merger

October 4, 2013
Associated Press
Citizens Financial Bank president Daryl Pomranke said all the layoffs will be of employees in support roles such as operations and technology
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PROXY CORNER: First Merchants Corp.Restricted Content

September 14, 2013
First Merchants Corp. operates 76 branches in 24 Indiana counties and two Ohio counties.
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Indiana banks finally regain pre-meltdown asset levels

July 10, 2013
Chris O'Malley
Assets for Indiana banks have risen back to levels seen in 2008, and financial institutions are lending again. But smaller, community-based banks still face an array of challenges that could lead to more consolidation.
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First Merchants accused of overdraft fee violations

May 29, 2013
Chris O'Malley
A lawsuit seeking class-action status alleges that the Muncie-based bank manipulated the timing of customers' transactions to cause their checking accounts to bounce more frequently, generating millions of dollars in overdraft fees.
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Spate of banking mergers may be just the beginningRestricted Content

May 18, 2013
Greg Andrews
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.
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First Merchants' deal to make it state's second-biggest bank

May 13, 2013
Greg Andrews
The acquisition of CFS Bancorp Inc. will increase First Merchants' assets to $5.4 billion and leave it with nearly 100 offices.
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Many banks still digging out from Great Recession traumaRestricted Content

October 13, 2012
The following statistics reflect performance of the 10 banks with the largest market shares in the Indianapolis Metropolitan Statistical Area.
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PROXY CORNER: First Merchants Corp.Restricted Content

September 1, 2012
Muncie-based First Merchants Corp. operates 79 branches in 24 Indiana counties and two Ohio counties.
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Regional investing conference heavy on Indiana banksRestricted Content

July 14, 2012
Event organizers say Wall Street isn't the only place to drum up interest in stocks.
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First Merchants has sights set on metro area growthRestricted Content

May 19, 2012
Scott Olson
Boone, Hancock counties on the Muncie-based bank's radar.
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First Merchants shuns management from failed SCB Bank

February 13, 2012
Scott Olson
Muncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville, declined to bring the failed bank's CEO into the new ownership.
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PROXY CORNER: First Merchants Corp.

December 25, 2010
 IBJ Staff
Muncie-based First Merchants Corp. operates about 80 banking offices, nearly all in Indiana.
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Banks still cautious on commercial real estateRestricted Content

August 28, 2010
Scott Olson
Singed by the downturn, banks are winnowing real estate portfolios.
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First Merchants, First Financial mull expansionRestricted Content

August 7, 2010
Norm Heikens
Acquisitions situate banks to seek market share in Indianapolis.
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Battered banks don't see light at end of tunnelRestricted Content

May 29, 2010
Greg Andrews
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
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PROXY CORNER: First Merchants Corp.

May 15, 2010
 IBJ Staff
First Merchants Corp. is a bank holding company that operates offices in Indiana and Ohio. For the year ended Dec. 31, 2009, the company reported a net loss of $45.7 million, or $2.17 per diluted share, on $281.6 million in revenue.
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A new real estate crisis could wreck recoveryRestricted Content

April 24, 2010
Greg Andrews
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due by the end of 2014.
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Many banks cutting dividends to merely a pennyRestricted Content

March 13, 2010
Greg Andrews
Banks used to take pride in having long records of increasing dividends. Now, about all most can say is they still pay one.
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Durham trailer-maker sued for nearly $1M

January 14, 2010
Greg Andrews
First Merchants Bank is seeking nearly $1 million from Tim Durham and his companies through a recently filed loan-default lawsuit.
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Falling property prices fuel new wave of bank woes

November 21, 2009
Peter Schnitzler
The second and third quarters were brutal for Indiana banks, as they set aside big reserves to cover losses on commercial real estate loans.
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First Merchants posts quarterly loss on bad loans

November 2, 2009
Muncie-based First Merchants Corp. said Monday afternoon that loan charge-offs contributed to a loss of $6.4 million in the third quarter.
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First Merchants posts larger loss on fraud charge

August 6, 2009
Scott Olson
Muncie-based First Merchants Corp. disclosed this week that the bank lost $31.2 million in the second quarter, including $10.2 million it blamed on fraudulent financial statements provided by a large commercial borrower.
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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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