First Merchants emerges from fair-lending settlement agreement
The bank had been operating under a settlement agreement since 2019, after the U.S. Department of Justice accused the bank of engaging in discriminatory lending practices.
First Merchants
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IBJ Podcast: Ball State hoops star turned bank CEO talks leadership tips, that UNLV game and making moves
Mark Hardwick’s journey as a distinguished Ball State alum continues. He was a key player during the Cardinals’ run of NCAA and NIT appearances, and now he’s CEO of fast-growing First Merchants Bank after nearly 20 years as CFO.
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First Merchants makes big moves after lending-bias settlements
First Merchants has begun constructing a $2 million branch that’s expected to open in the mostly Black Avondale Meadows neighborhood in late November. It’s he most visible sign yet of sweeping changes at the Muncie-based financial institution after it settled redlining investigations last year.
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Muncie-based First Merchants to acquire Michigan bank for $323.5M
First Merchants has agreed to acquire Farmington Hills-based Level One Bancorp, which has 16 Michigan banking offices. The deal is expected to close in the first half of next year.
First Merchants to close 17 bank branch locations
The company said it would use the savings from the closures to beef up its digital banking and in-branch technology initiatives.
First Merchants to acquire Indianapolis-based Hoosier Trust Co.
Muncie-based First Merchants plans to acquire Hoosier Trust for $3.2 million in a deal that is expected to close early next year.
Chase remains Indy’s biggest bank
PNC and Fifth Third rank as the second and third largest area bank by deposits.
First Merchants CEO Rechin stepping down after 13 years
Mike Rechin, who has served as the bank’s president and CEO since 2007, plans to retire at the end of the year. His departure will trigger several promotions among the bank’s other executives.
Tumult might lead Hoosier firms to put dividends on chopping block
Firms across the country from a broad range of industries will be taking a hard look at their dividends in the coming weeks, as the pandemic forces businesses to focus on conserving cash.
Former Indiana Pacers player joins First Merchants board
Clark Kellogg, a first-round draft pick for the Indiana Pacers in 1982 and current lead basketball analyst for CBS Sports, has been a member of the bank’s advisory board since 2001.
First Merchants Bank settles federal lawsuit alleging redlining
According to the complaint, First Merchants “engaged in unlawful redlining in Indianapolis by intentionally avoiding predominantly African-American neighborhoods because of the race of the people living in those neighborhoods.”
Investors thrashing bank stocks, despite solid earnings
Investors have turned pessimistic about everything from the inevitability of a U.S. recession to growing international trade disruptions and higher loan defaults.
Ex-banker gets 5-year sentence for stealing customers’ money
A former assistant manager has been sentenced after pleading guilty to stealing hundreds of thousands of dollars from depositors. She said she stole the money after she became addicted to playing slot machines.
First Merchants completes acquisition of Independent Alliance Banks
The merged companies make up the second-largest financial holding corporation headquartered in Indiana, behind Evansville-based Old National Bank Bancorp.
PROXY CORNER: First Merchants Corp.
Muncie-based First Merchants Corp. operates 106 branches in 27 Indiana counties, two Ohio counties and two Illinois counties.
PROXY CORNER: First Merchants Corp.
First Merchants Corp. operates 116 branches in 27 Indiana counties, two Ohio counties and two Illinois counties.
After legal delay, First Merchants set to close Ameriana buyout
The Muncie-based bank, which agreed to purchase New Castle-based Ameriana in June, had faced two shareholder lawsuits opposing the deal. Those lawsuits have been dropped.
Indiana banks cash in on overdraft fees as low rates linger
Now we know exactly how much of a fortune—or not—that larger, Indiana-based banks are generating from those ill-timed debit and ATM transactions.
Ameriana shareholders sue over First Merchants buyout terms
Ameriana shareholders said in the complaint that the $69 million offer is “inadequate” and that the deal deters competing bids.
First Merchants to buy Ameriana for $69 million
It marks the second announced acquisition in less than a year for First Merchants, underscoring growth plans for the second-largest Indiana-based bank.
PROXY CORNER: First Merchants Corp.
First Merchants Corp., 200 E. Jackson St., Muncie 47305 (www.firstmerchants.com), operates 95 branches in 26 Indiana counties, two Illinois counties and two Ohio counties.
How a dogged Muncie bank broke into top 10 in Indy
As of June 30, First Merchants Bank had amassed $958 million in deposits at 27 Indianapolis-area offices, placing it 10th, Federal Deposit Insurance Corp. data shows.