First Merchants - M&A Summary and Business Overview

Financial ServicesCompany

First Merchants M&A Summary

First Merchants has acquired 11 companies. A total of 2 acquisitions came from private equity firms. It has also divested 1 asset.

First Merchants’ largest acquisition to date was in 2018, when it acquired MBT Financial for $291M. First Merchants has acquired in 4 different US states. The Company’s most targeted sectors include financial services (90%) and insurance (10%).

First Merchants Business Overview

Where is First Merchants headquartered?

First Merchants is headquartered in Muncie, Indiana.

What is First Merchants’ revenue?

First Merchants disclosed revenue of 628M USD for 2022 and 520M USD for 2021.

How many employees does First Merchants have?

First Merchants has 1,821 employees.

What sector is First Merchants in?

First Merchants is a financial services company.

When was First Merchants founded?

First Merchants was founded in 1893.

M&A Summary

  • M&A Total Activity11
    • M&A Buy Activity10
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 3
  • M&A Advisors 4

First Merchants

First Merchants Corp.

200 East Jackson Street,
Muncie, Indiana 47305
United States,
(765) 747-1500
www.firstmerchants.com

First Merchants is a financial services holding company. First Merchants provides customers with personal banking, business banking, mortgage lending, cash management services, wealth management and insurance. First Merchants was incorporated in 1893 and is based in Muncie, Indiana.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 10 - - - - - 10
vol $788M $788M
Sell (0.0/yr) # 1 - - - - - 1
  11

Most Recent M&A

Company Date Value Type
MBT Financial Corp. 2018-10-10 291M USD Add-on Acquisition
Monroe, Michigan · www.mbandt.com
The Arlington Bank 2017-01-25 - Merger
Upper Arlington, Ohio · www.arlingtonbank.com
Ameriana Bancorp 2015-06-29 69M USD Merger
New Castle, Indiana · www.ameriana.com
First Merchants Insurance Group 2015-06-15 - Divestiture
Muncie, Indiana
C Financial Corp. 2015-04-20 15M USD Merger
Dublin, Ohio
Community Bancshares, Inc. 2014-11-10 49M USD Merger
, United States
CFS Bancorp, Inc. 2013-05-13 115M USD Merger
Munster, Indiana
Lincoln Bancorp. 2008-09-03 77M USD Add-on Acquisition
Plainfield, Indiana · www.lincolnfederal.com
First Merchants Insurance Group 2008-04-01 1M USD Add-on Acquisition
Muncie, Indiana
CNBC Bancorp. 2002-08-28 58M USD Add-on Acquisition
Columbus, Ohio
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 9 (90%) 786M (100%) - -
Insurance 1 (10%) 1M (< 1%) 1 (100%) -
Total 10 $788M 1 -

By Geo

State/Country Buy Value Sell Value
United States 10 788M 1 -
  Indiana 5 375M 1 -
  Ohio 3 73M - -
  Michigan 1 291M - -
Total 10 $788M 1 -

Top M&A Advisors

Financial Deals
Sandler O'Neill + Partners LP
3
Keefe, Bruyette, & Woods, Inc.
1
Legal Deals
Dentons Bingham Greenebaum
8
Bingham McCutchen LLP
1

Deal Values

buy # Total
$100M to $1B 3 $519M
< $100M 6 $269M
TOTAL $788M
Largest MBT Financial Corp.
$291M (2018-10-10)

M&A Connections

Deals
Acquired from
Investor(s)
10%
1 (10%)
Divested to
Strategic(s)
100%
1 (100%)

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