FRME

Over the past six months, First Merchants Corp.'s stock trended down by 1.78%, with a 1-month change of -4.2% and its largest daily stock move being a -4.8% close. Key events included the announcement of CEO Mark Hardwick's retirement and Mike Stewart's succession, a director increasing holdings by 785 shares, Piper Sandler cutting the price target to $46.00, and Raymond James Financial upgrading the stock rating. The company reported Q2 2026 adjusted earnings per share of $0.74, missing analyst estimates and leading to a 6.13% stock decline due to a $33.0 million provision for credit losses. A cash dividend was announced, and a report indicated that the acquisition of First Savings Financial Group had not delivered expected earnings accretion, with nonperforming assets nearly doubling since Q3 2025. Q1 2026 net income available to common stockholders was $27.7 million, or $0.45 per diluted share, and the legal closing of the First Savings Financial Group acquisition was completed on February 1, 2026.