Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
Chunk: 95

Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
Chunk 95
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| 2. | First Merchants must have received an opinion of Dentons Bingham Greenebaum LLP that, for U.S. federal income                                                                                                                                    
 tax purposes, the Merger will be treated as a “reorganization” within the meaning of Section 368(a) of the Internal Revenue Code, each of First Savings and First Merchants will be a party to such reorganization within the meaning of         
 Section 368(b) of the Code, and no gain or loss will be recognized by holders of First Savings common stock upon the receipt of shares of First Merchants common stock in exchange for their shares of First Savings common stock, except to the 
 extent of any cash received in lieu of fractional shares of First Merchants common stock.                                                                                                                                                        |

For the purpose of the Merger Agreement, a “Material Adverse Effect” means any effect, circumstance, occurrence or change that (i) is material and adverse to the financial position, results of operations or business of First Savings and First Savings Bank, Southern Indiana Financial Corporation, First Savings Investments, Inc., Q2 Business Capital, LLC, and Crimson Properties, LLC (collectively, the “Subsidiaries”), taken as a whole, or First Merchants and First Merchants Bank, taken as a whole, as applicable or (ii) would materially impair the 65

ability of First Savings or First Merchants, as applicable, to consummate timely the transactions contemplated by the Merger Agreement; provided, however, that, solely with respect to clause
(i) above, a Material Adverse Effect shall not be deemed to include the impact of (a) changes in banking and similar laws of general applicability to banks or their holding companies, or any material line of business of First Savings or
First Merchants, as applicable, or interpretations thereof by courts or governmental authorities, (b) changes in generally accepted accounting principles in the United States (“GAAP”) or regulatory accounting requirements applicable
to banks or their holding companies generally, (c) any modifications or changes to valuation policies and practices in connection with the Merger or restructuring charges taken in connection with the Merger, in each case in accordance with
GAAP, (d) effects of any action taken with the prior written consent of the other party hereto, (e) changes in the general level of market interest rates (including the impact on the securities portfolios of First Savings and the Bank, or
First Merchants and First Merchants Bank, as applicable) or conditions or circumstances relating