First Merchants completes acquisition of First Savings Financial Group

First Merchants Corporation (NASDAQ: FRME) completed its acquisition of First Savings Financial Group Inc. (NASDAQ: FSFG) through a stock transaction effective February 1, according to a company statement.

The merger received regulatory approvals in January 2026. First Savings Bank will merge into First Merchants Bank during the second quarter of 2026, the company said.

First Savings Bank, headquartered in Jeffersonville, Indiana, operated banking centers in southern Indiana and maintained two national lending programs focused on single-tenant net lease commercial real estate and SBA lending. The bank reported total assets of $2.4 billion, loans of $1.9 billion, and deposits of $1.7 billion as of December 31, 2025.

The combined entity will have approximately $21.4 billion in assets and will operate as First Merchants Bank. First Merchants Corporation will remain the second largest financial holding company headquartered in Indiana following the transaction.

"This merger strengthens our ability to serve Indiana communities with expanded capabilities and the same genuine, relationship-focused approach our customers expect," said Mark Hardwick, CEO of First Merchants Corporation.

Larry Myers, President and CEO of First Savings Bank, said First Merchants Bank shares the acquired company's priorities for local decision-making and community engagement.

First Merchants Corporation, based in Muncie, Indiana, operates First Merchants Bank and First Merchants Private Wealth Advisors. The company's stock trades on the NASDAQ Global Select Market.

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