First Merchants closes $49M acquisition of Community Bank
The deal gives First Merchants a stronger foothold in affluent Hamilton County, and a total of 107 locations in three states.
First Merchants
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Rankings of Indianapolis-area banks
After seemingly endless adversity, bankers anticipate brighter future. Look here to see how local institutions compare based on common measures.
First Merchants acquires Noblesville-based bank
Muncie-based First Merchants Corp. has agreed to acquire Noblesville-based Community Bancshares Inc. for about $46 million in stock, the companies announced Tuesday.
Indiana bank cutting 80 workers after merger
Citizens Financial Bank president Daryl Pomranke said all the layoffs will be of employees in support roles such as operations and technology
PROXY CORNER: First Merchants Corp.
First Merchants Corp. operates 76 branches in 24 Indiana counties and two Ohio counties.
Indiana banks finally regain pre-meltdown asset levels
Assets for Indiana banks have risen back to levels seen in 2008, and financial institutions are lending again. But smaller, community-based banks still face an array of challenges that could lead to more consolidation.
First Merchants accused of overdraft fee violations
A lawsuit seeking class-action status alleges that the Muncie-based bank manipulated the timing of customers’ transactions to cause their checking accounts to bounce more frequently, generating millions of dollars in overdraft fees.
Spate of banking mergers may be just the beginning
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’ quest to increase profits in an environment where super-low interest rates continue to squeeze margins.
First Merchants’ deal to make it state’s second-biggest bank
The acquisition of CFS Bancorp Inc. will increase First Merchants' assets to $5.4 billion and leave it with nearly 100 offices.
Many banks still digging out from Great Recession trauma
The following statistics reflect performance of the 10 banks with the largest market shares in the Indianapolis Metropolitan Statistical Area.
PROXY CORNER: First Merchants Corp.
Muncie-based First Merchants Corp. operates 79 branches in 24 Indiana counties and two Ohio counties.
Regional investing conference heavy on Indiana banks
Event organizers say Wall Street isn’t the only place to drum up interest in stocks.
First Merchants has sights set on metro area growth
Boone, Hancock counties on the Muncie-based bank’s radar.
First Merchants shuns management from failed SCB Bank
Muncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville, declined to bring the failed bank’s CEO into the new ownership.
PROXY CORNER: First Merchants Corp.
Muncie-based First Merchants Corp. operates about 80 banking offices, nearly all in Indiana.
Banks still cautious on commercial real estate
Singed by the downturn, banks are winnowing real estate portfolios.
First Merchants, First Financial mull expansion
Acquisitions situate banks to seek market share in Indianapolis.
Battered banks don’t see light at end of tunnel
Credit problems continue to bedevil banks big and small, many of them caused by soured commercial real estate loans.
PROXY CORNER: First Merchants Corp.
First Merchants Corp. is a bank holding company that operates offices in Indiana and Ohio. For the year ended Dec. 31, 2009,
the company reported a net loss of $45.7 million, or $2.17 per diluted share, on $281.6 million in revenue.
A new real estate crisis could wreck recovery
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.