Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
Chunk: 103

Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
Chunk 103
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ary (other than new 
 agreements, renewals, modifications, amendments, or extensions in the ordinary course of business consistent with past practice);                                                                                                                      |

| 11. | give, dispose, sell, convey, assign, hypothecate, pledge, encumber, or otherwise transfer or grant a security 
 interest in any capital stock of any Subsidiary;                                                              |

| 12. | fail to make additions to First Savings Bank’s reserve for loan losses or any other reserve account in 
 the ordinary course of business and in accordance with sound banking practices; or                     |

| 13. | other than in the ordinary course of business consistent with past practice, incur any indebtedness for                                                                          
 borrowed money or assume, guarantee, endorse, or otherwise as an accommodation become responsible or liable for the obligations of any other individual, corporation, or entity. |

The prior consent of First Merchants for the items listed above may be withheld, conditioned, or delayed in its sole discretion; provided, however, consent for items 5 through 13 above may not be unreasonably withheld, conditioned, or delayed. In addition, until the Merger is consummated or the Merger Agreement is terminated, First Merchants and First Savings shall carry on their business diligently and in the ordinary course of business and use their best efforts to preserve their business organizations and existing business relationships intact. This discussion of the restrictions imposed by the Merger Agreement is not intended to be exhaustive, but includes material restrictions imposed on the parties. Refer to the Merger Agreement, attached as Annex A, for a complete listing of the restrictions. Fees and Expenses First Merchants and First Savings will pay their own fees, costs, and expenses incurred in connection with the Merger, including the fees of their respective investment bankers. Management After the Merger First Merchants will be the surviving corporation in the Merger and First Savings’ separate corporate existence will cease. Accordingly, the directors and officers of First Savings will no longer serve in such 70

capacities after the completion of the Merger. Similarly, First Merchants Bank will be the surviving banking subsidiary in the consolidation and merger with First Savings Bank (the “Bank
Merger”) and First Savings Bank’s separate corporate existence will cease.

The directors of First Merchants and First
Merchants Bank immediately prior to the Merger will continue to be the directors of First Merchants and First Merchants Bank following the Merger and the Bank Merger, respectively, until they resign or until their respective successors