Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
Chunk: 28

Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
Chunk 28
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 Savings shareholders, which assumes 7,000,558 shares of First Savings common stock are outstanding at the time of closing (which was the number of shares of First Savings common stock outstanding on September 24, 2025, plus 24,000 shares of restricted stock that First Savings intends to issue in November 2025). For purposes of presenting pro forma basic and diluted earnings per share, cash dividends per share, and book value per share, the comparative pro forma data assumes that First Merchants and First Savings had been combined throughout the period shown. The data in the column “Pro Forma Equivalent Per First Savings Share” shows the effect of the Merger from the perspective of an owner of First Savings common stock, and was obtained by multiplying the Combined Pro Forma Amounts for First Merchants by the Exchange Ratio of 0.85.

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We expect that we will incur reorganization and restructuring expenses as a result of combining our two companies. We also anticipate that the Merger will provide the combined company with financial benefits that include reduced operating expenses and the opportunity to earn more revenue. The pro forma information, while helpful in illustrating the financial characteristics of the combined company, does not take into account these expected expenses or these anticipated financial benefits, and does not attempt to predict or suggest future results. It also does not necessarily reflect what the historical results of the merged company would have been had our companies been merged during the periods presented. The information in the following table is based on historical financial information of First Savings and First Merchants. The information with respect to First Merchants and First Savings are included in their respective annual and quarterly reports previously filed with the SEC, which have been incorporated into this document by reference. See “WHERE YOU CAN FIND ADDITIONAL INFORMATION” beginning on page 89 for a description of documents that First Merchants and First Savings incorporate by reference into this document and how to obtain copies of them. FIRST MERCHANTS AND FIRST SAVINGS HISTORICAL AND PRO FORMA PER SHARE AND RATIO DATA

| Net income per share                                                          
 Six months ended June 30, 2025                                                |     | First      
 Merchants  
 Historical |       |   |     | First      
 Savings    
 Historical |       |   |     | Combined           
 Pro forma          
 Amounts for        
 First Merchants(1) |       |   |     | Pro forma     
 Equivalent    
 Per           
 First Savings 
 Share(2)      |       |   |
|:------------------------------------------------------------------------------|:----|:-----------|------