Company: FRME
Filing Date: 2025-09-25
Form Type: 425
Source: 0001193125-25-216443
Chunk: 115

Company: FIRST MERCHANTS CORP
Filing Date: 2025-09-25
Form: 425
Chunk 115
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) 2022 2023 2024 YTD 2025 County Rank Branches ($000) (%) Franchise Balance Sheet Total Assets $2,197 $2,308 $2,389 $2,417 Clark, IN 2 6 896,124 22.8 51.5 Gross Loans (Excl. HFS) $1,599 $1,861 $1,905 $1,916 Harrison, IN 2 3 246,481 25.2 14.2 Total Deposits $1,538 $1,684 $1,833 $1,736 Daviess, IN 2 2 216,531 22.7 12.4 Tangible Common Equity $155 $173 $149 $154 Profitability Crawford, IN 1 2 142,887 100.0 8.2 ROAA (%) 0.71% 0.28% 0.79% 0.97% Washington, IN 1 1 127,830 40.7 7.3 ROAE (%) 8.3% 3.9% 11.1% 12.9% Efficiency Ratio (%) 81.5% 86.2% 70.2% 68.5% Floyd, IN 9 2 110,759 4.2 6.4 1Excludes banks with greater than $50 billion in total assets. 2Includes all counties in IN below FRME’s southernmost branch located in Morgan County, IN. 3Represents financial data for the calendar year ended December 31 and six months ended June 30, 2025. Source: S&P Global Market Intelligence; FDIC Summary of Deposits as of June 30, 2025. 5

Transaction Summary First Merchants Corporation (“FRME”) $18.6 billion in total assets as of June 30, 2025 Buyer Muncie, Indiana Established 1893 First Savings Financial Group, Inc. (“FSFG”) $2.4 billion in total assets as of June 30, 2025 Seller Jeffersonville, Indiana Established 1937 0.85 shares of FRME common stock for each share of FSFG common stock (fixed exchange ratio) Consideration 5,950,474 shares issued to FSFG shareholders FSFG unexercised options to receive cash (~$6.2 million) 1 $243.5 million