First Merchants Bank Charter Consolidation Complete
MUNCIE, Ind.--(BUSINESS WIRE)-- First Merchants Corporation (NASDAQ: FRME) announced that it has received approval from the Office of the Comptroller of the Currency (OCC), and has completed the merger of three of its subsidiary banks and charters into the corporation's single remaining full-service bank charter, First Merchants Bank, N.A., effective at the close of business on Friday, September 25, 2009.
Michael C. Rechin, Chief Executive Officer stated, "This is a positive step forward focused on improved performance that will take advantage of a stronger brand presence and increased efficiencies. Management is committed to our model of local banking focused on local customers in our community markets, providing exceptional service by developing comprehensive financial relationships. Our company is strong, well capitalized and focused on the acceleration of our strategic plan through growth and profitability."
About First Merchants Corporation
First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. Subsidiaries of the Corporation include First Merchants Bank, N.A. and First Merchants Trust Company, N.A. The Corporation also operates First Merchants Insurance Services, a full-service property casualty, personal lines, and healthcare insurance agency.
First Merchants Corporation's common stock is traded over-the-counter on the NASDAQ National Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company's Internet web page (http://www.firstmerchants.com).
Source: First Merchants Corporation
Contact: First Merchants Corporation Mark Hardwick, 765-751-1857 Executive VP and Chief Financial Officer