Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
Chunk: 86

Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
Chunk 86
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 Sandler to use and rely on the estimated annual long-term annual growth rate of approximately 8% for First Merchants’ net income available to shareholders and 6% for First Merchants’ total assets. Certain Estimated Synergies Attributable to the Merger The management of First Merchants developed certain prospective financial information relating to the anticipated cost savings to be realized by the combined company beginning in 2026, and provided such information to Piper Sandler for Piper Sandler’s use and reliance in connection with its financial analyses and opinion as described in the section entitled “THE MERGER — Opinion of First Savings’ Financial Advisor”. The cost synergies consisted of estimated pre-taxannual cost savings of approximately $15.8 million, phased in approximately 67% in 2026 and 100% in 2027, with approximately 4% growth in the annual cost savings base starting in 2028. The total pre-taxrestructuring charge in connection with the mergers was estimated to be approximately $29.0 million. The cost synergies assumed a hypothetical March 31, 2026 closing date for the mergers. See above in this section for further information regarding the uncertainties underlying the synergy estimates as well as the sections entitled “FORWARD-LOOKING STATEMENTS” located in the forepart of this proxy statement and prospectus and “RISK FACTORS” beginning on page 23 for further information regarding the uncertainties and factors associated with realizing synergies in connection with the mergers. General The stand-alone prospective financial information for First Merchants and First Savings was prepared separately and the different estimates are not intended to be added together. Adding the prospective financial 58

information together for the two companies is not intended to represent the results the combined company will achieve if the mergers are completed and is not intended to represent forecasted
financial information for the combined company if the mergers are completed.

By including in this proxy statement and prospectus a
summary of the prospective financial information, neither First Merchants nor First Savings nor any of their respective representatives has made or makes any representation to any person regarding the ultimate performance of First Merchants or First
Savings compared to the information contained in the prospective financial information. Neither First Merchants, First Savings, nor, after completion of the mergers, the combined company, undertakes any obligation to update or otherwise revise the
prospective financial information to reflect circumstances existing since their preparation or to reflect the occurrence of subsequent or unanticipated events, even in the event that any or