First Merchants Bank
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Data as of · sourced from FFIEC call reports. How we update
First Merchants Bank is an FDIC-insured commercial bank headquartered in Muncie, IN, established in 1893 (FDIC certificate 4365), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $21.32B, up 14.7% from Q2 2025, the 2nd largest of 87 banks headquartered in Indiana. Its CET1 capital ratio was 11.50% at Q2 2026, above regulatory requirements.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 4365
- Headquarters
- Muncie, IN
- Established
- 1893
- Total assets, Q2 2026
- $21.32B
- Assets vs Q2 2025
- +14.7%
- CET1 ratio, Q2 2026
- 11.50%
- Domestic offices
- 135 FDIC institution directory, current count
- Routing number
- 074900657
- Latest call report
- Q2 2026, FFIEC 041 · First Merchants Bank call report
- Holding company
- FIRST MERCHANTS CORPORATION
- Asset rank in state
- 2nd of 87 in Indiana
First Merchants Bank operates with a thinner capital cushion than most banks of its size. Based in Muncie, Indiana, it had $21.3 billion in assets at June 30, 2026, up 14.7% from a year earlier. It holds common equity equal to 11.50% of its risk-weighted assets, lower than about 9 in 10 of the 127 banks with $10 billion to $100 billion in assets (median 12.98%). It also returns 6.8% a year on shareholders' equity, lower than about three-quarters of banks its size (median 11.1%). It has also been growing, with assets up 14.7% in a year.
Net income for the quarter slipped 21% from a year earlier, to $46 million. Over the same year, loans grew 17.1% and deposits grew 12.9%. One more trend to watch: problem loans, meaning loans on nonaccrual or 90 or more days past due, net of government guarantees, rose to 0.81% of loans from 0.53% a year earlier.
As of June 30, 2026, First Merchants Bank reported a CET1 capital ratio of 11.50%, a return on assets of 0.87%, a nonperforming-loan ratio of 0.82% and a Texas ratio of 5.93%. The figures come from its call report filed with the FFIEC.
First Merchants Bank ranks as the 2nd largest of the 87 banks based in Indiana, by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets rose 1.3% to $21.32B, loans fell 0.4% and deposits rose 1.6%. Its loan book on June 30, 2026 was led by commercial and industrial loans, at 30.3% of total loans, followed by 1-4 family residential loans at 22.7%. Its 129 offices in the FDIC Summary of Deposits are in 93 cities across 3 states; its Muncie 7 offices book 14% of its branch deposits. Judged on its Q2 2026 call report, First Merchants Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 200 E Jackson St, Muncie, IN 47305
- County
- Delaware
- Metro Area
- Muncie, IN
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- No
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- March 13, 1893
- Former names
- First Merchants Bank National Association (1991-2016)
- Domestic offices
- 135 FDIC institution directory, current count
- Employees (FTE)
- 2,233
- Domestic deposits
- $16.78B
- Allowance for credit losses
- $241.6M
- Net charge-offs (YTD)
- $14.2M
- Average total assets
- $21.37B
- Average total loans
- $15.80B
- Average interest-bearing deposits
- $12.91B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 4365
- Fed RSSD
- 17147
- SEC CIK
- 712534 → filed by FIRST MERCHANTS CORPORATION
- Website
- http://www.firstmerchants.com →
- Parent Holding Company
- FIRST MERCHANTS CORPORATION (RSSD 1208559) · FRME
Management
Senior officers at parent holding company, from SEC Form 3/4/5 disclosures
| Name | Role | Title |
|---|---|---|
| Mark K Hardwick | CEO | Chief Executive Officer |
| Michael J Stewart | PRES | President |
| Michele Kawiecki | CFO | Chief Financial Officer |
| Stephan Fluhler | CIO | Chief Information Officer |
| John Martin | CCO | Chief Credit Officer |
| Eva D. Scurlock | CRO | Chief Risk Officer |
Profitability
Q2 annualizedCapital & Liquidity
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. How we compute these figures
Quarterly trends
From Q3 2023 to Q2 2026, First Merchants Bank's total assets ranged from $17.98B (Q3 2023) to $21.32B (Q2 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$21.32B total assets against $18.58B; $18.59B total liabilities against $16.25B.
$15.37B net loans and leases against $13.13B; $16.78B total deposits against $14.86B.
$3.29B securities against $3.38B; $616.1M cash and balances due against $304.9M.
$260.8M total interest income against $229.7M; $100.7M total interest expense against $95.7M.
$160.1M net interest income against $134.0M.
$37.2M total noninterest income against $31.3M; $113.3M total noninterest expense against $91.6M.
$33.0M provision for credit losses against $5.6M.
$46.5M net income against $59.2M.
0.87% return on assets against 1.27%; 3.43% net interest margin against 3.31%.
11.50% CET1 capital ratio against 11.39%; 9.96% tier 1 leverage ratio against 10.01%.
Inside the full First Merchants Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFirst Merchants Bank rankings
Its closest position to the top of a national ranking is 99 of 4,196, for total assets; its furthest is 1,847 of 2,134, for CET1 ratio.
Metric pages for First Merchants Bank: Uninsured deposits.
Banks merged into First Merchants Bank
- First Savings Bank, effective February 1, 2026
Quarterly trend: last 8 quarters
From Q3 2024 to Q2 2026, its return on assets ran from 0.65% (Q1 2026) to 1.44% (Q4 2024) and its net interest margin ran from 3.27% (Q1 2025) to 3.43% (Q2 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 11.50% | 0.87% | 0.82% | 5.93% | 3.43% |
| Q1 2026 | 11.58% | 0.65% | 0.60% | 4.41% | 3.39% |
| Q4 2025 | 11.86% | 1.25% | 0.53% | 3.72% | 3.34% |
| Q3 2025 | 11.42% | 1.26% | 0.50% | 3.66% | 3.30% |
| Q2 2025 | 11.39% | 1.27% | 0.54% | 3.96% | 3.31% |
| Q1 2025 | 11.65% | 1.24% | 0.66% | 5.05% | 3.27% |
| Q4 2024 | 11.64% | 1.44% | 0.62% | 4.73% | 3.35% |
| Q3 2024 | 11.41% | 1.12% | 0.58% | 4.41% | 3.30% |
Swipe the table sideways to see every column.
Branch Network
View all 129 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| First Merchants Bank (main office) | Muncie , IN | 47305 | $1.74B |
| Carmel Branch | Carmel , IN | 46032 | $950.3M |
| Monticello Branch | Monticello , IN | 47960 | $607.0M |
| Fishers Geist Branch | Fishers , IN | 46037 | $462.9M |
| Broad Ripple Branch | Indianapolis , IN | 46220 | $450.1M |
| Munster Ridge Road Branch | Munster , IN | 46321 | $302.1M |
| Brownsburg Branch | Brownsburg , IN | 46112 | $270.7M |
| Crown Point Branch | Crown Point , IN | 46307 | $266.1M |
| Avondale Meadows Branch | Indianapolis , IN | 46218 | $260.7M |
| Rensselaer Branch | Rensselaer , IN | 47978 | $252.3M |
| Veterans Parkway Branch | Lafayette , IN | 47909 | $230.0M |
| Lafayette Headquarters Branch | Lafayette , IN | 47901 | $227.4M |
| Clarksville Branch | Clarksville , IN | 47129 | $224.2M |
| Sawmill Rd Br | Dublin , OH | 43017 | $197.0M |
| Greenfield Branch | Greenfield , IN | 46140 | $196.6M |
| New Castle Branch | New Castle , IN | 47362 | $195.4M |
| Michgan Road Branch | Carmel , IN | 46032 | $191.1M |
| Pendleton Branch | Pendleton , IN | 46064 | $190.8M |
| Anderson Downtown Branch | Anderson , IN | 46016 | $178.4M |
| Mooresville Branch | Mooresville , IN | 46158 | $176.8M |
| Monroe Headquarters Branch | Monroe , MI | 48161 | $175.9M |
| Mcgalliard Branch | Muncie , IN | 47304 | $173.2M |
| Corydon Branch | Corydon , IN | 47112 | $165.6M |
| Valparaiso Branch | Valparaiso , IN | 46385 | $163.2M |
| New Haven Branch | New Haven , IN | 46774 | $160.6M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| February 1, 2026 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| February 1, 2026 | Structure Change | Acquired First Savings Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 1, 2022 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| April 1, 2022 | Structure Change | Acquired Level One Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 1, 2019 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| September 1, 2019 | Structure Change | Acquired Monroe Bank & Trust Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| July 15, 2017 | Structure Change | Acquired IAB Financial Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| July 14, 2017 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| May 20, 2017 | Structure Change | Acquired The Arlington Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| May 19, 2017 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 1, 2016 | Structure Change | Acquired Ameriana Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| December 31, 2015 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| April 18, 2015 | Structure Change | Acquired Cooper State Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 17, 2015 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| November 8, 2014 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| November 8, 2014 | Structure Change | Acquired Community Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| November 13, 2013 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| November 13, 2013 | Structure Change | Acquired Citizens Financial Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| February 11, 2012 | Structure Change | Acquired SCB Bank Failure, Government Assistance Provided for the acquired bank | FFIEC NIC |
| February 10, 2012 | Merger | Participated in FDIC Assisted Merger | FDIC |
| September 18, 2010 | Structure Change | Acquired First Merchants Trust Company, N.A. Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 17, 2010 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| September 26, 2009 | Structure Change | Acquired Commerce National Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| September 25, 2009 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| April 1, 2007 | Structure Change | Acquired United Communities National Bank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| April 1, 2007 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| January 1, 2006 | Structure Change | Acquired First United Bank, National Association Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| January 1, 2006 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 28 events, scroll the table for the full history.
Regulatory record
Facts as filed or published, not a rating.
- Deposit market share
- 6.2% of deposits in IN, rank 5 of 129 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 8,553 applications, 5,621 loans originated, $1.75B originated, across 31 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 149 loans, $110.5M approved, $742K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Consumer complaints
- 39 complaints in the last 4 full quarters. Raw counts, not adjusted for size
- Period: 2025-Q4 to 2026-Q3. Source: CFPB consumer complaint database.
- Not on file
- Enforcement actions, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about First Merchants Bank
What are First Merchants Bank's total assets?
As of the Q2 2026 filing, First Merchants Bank reported total assets of $21.32 billion in its FFIEC call report.
Where is First Merchants Bank headquartered?
It is headquartered in Muncie, IN, United States.
When was First Merchants Bank founded?
It was established in 1893, per the FDIC institution directory.
Is First Merchants Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #4365). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First Merchants Bank?
First Merchants Bank's primary federal regulator is the FDIC.
What is First Merchants Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 11.50% in its Q2 2026 call report, above regulatory requirements.
How many branches does First Merchants Bank operate?
It operates 135 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First Merchants Bank's Texas Ratio?
Its Texas Ratio is 5.93% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was First Merchants Bank previously called?
The charter now named First Merchants Bank has also operated as First Merchants Bank National Association (1991-2016), per FDIC structure-change records.
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