Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
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Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
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Filed Pursuant to Rule 424(b)(3)
Registration No. 333-290839

| FIRST MERCHANTS CORPORATION |     | FIRST SAVINGS FINANCIAL GROUP, INC. |

YOUR VOTE IS VERY IMPORTANT PROSPECTUS OF FIRST MERCHANTS CORPORATION AND PROXY STATEMENT OF FIRST SAVINGS FINANCIAL GROUP, INC. The Board of Directors of First Merchants Corporation (“First Merchants”) and the Board of Directors of First Savings Financial Group, Inc. (“First Savings”) have approved an Agreement and Plan of Merger, dated as of September 24, 2025 (the “Merger Agreement”), pursuant to which First Savings has agreed to merge with and into First Merchants (the “Merger”). Following the Merger, the combined company will have 127 full-service branch locations in three states (namely, Indiana, Ohio, and Michigan) and approximately $21.1 billion in assets, $15.2 billion in loans, $16.5 billion in deposits, and total shareholders’ equity of $2.6 billion, in each case based on data as of June 30, 2025. If the Merger Agreement is approved by shareholders holding a majority of the outstanding shares of First Savings common stock and the Merger is subsequently completed, each share of First Savings common stock owned by a First Savings shareholder will be converted into the right to receive a 0.85 (the “Exchange Ratio”) share of First Merchants common stock (the “Merger Consideration”). First Merchants will pay cash for any fractional shares resulting from application of the Exchange Ratio. The Exchange Ratio is subject to adjustments for stock splits, stock dividends, recapitalization, or similar transactions. First Merchants common stock is listed on the Nasdaq Global Select Market under the symbol “FRME.” On September 24, 2025, the last business day prior to the public announcement of the Merger Agreement, the closing price of a share of First Merchants common stock was $39.53, which, after giving effect to the Exchange Ratio of 0.85, results in an implied value of approximately $33.60 per share of First Savings common stock as of such date. On October 15, 2025, the latest practicable date before this proxy statement and prospectus was finalized, the closing price of a share of First Merchants common stock was $37.00, which, after giving effect to the Exchange Ratio of 0.85, results