Primera Corporación de Comerciantes (FRME): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

First Merchants Corporation (FRME) representa una potencia financiera dinámica estratégicamente posicionada en el medio oeste de los Estados Unidos, que ofrece un enfoque integral e innovador para la banca que trasciende los modelos de servicios tradicionales. Al combinar sin problemas las relaciones personalizadas con los clientes con plataformas digitales de vanguardia, este líder bancario regional ha creado un modelo de negocio sofisticado que aborda las complejas necesidades financieras de las empresas, las personas y las comunidades. A través de asociaciones estratégicas, productos financieros diversificados y un enfoque basado en relaciones, First Merchants Corporation se ha distinguido como una institución financiera flexible y de avance listas para ofrecer un valor excepcional en múltiples segmentos de clientes.

First Merchants Corporation (FRME) - Modelo de negocios: asociaciones clave

Bancos locales y regionales para colaboraciones estratégicas

First Merchants Corporation mantiene asociaciones estratégicas con múltiples instituciones bancarias regionales en Indiana, Illinois, Ohio y Michigan. A partir del cuarto trimestre de 2023, la corporación ha establecido redes colaborativas con aproximadamente 12 entidades bancarias locales.

Banco de socios	Estado	Enfoque de asociación
Old National Bank	Indiana	Colaboración de préstamos comerciales
Banco Horizon	Indiana	Servicios financieros de pequeñas empresas

Proveedores de servicios de tecnología financiera (fintech)

First Merchants Corporation tiene asociaciones integradas con proveedores especializados de servicios FinTech para mejorar las capacidades de banca digital.

• Jack Henry & Asociados: integración de plataforma de banca digital
• FISERV - Soluciones de tecnología bancaria central
• Plaid - Servicios de conectividad de datos financieros

Empresas de inversión y redes de gestión de patrimonio

La corporación tiene asociaciones estratégicas con empresas de inversión para expandir los servicios de gestión de patrimonio. A partir de 2023, First Merchants tiene relaciones colaborativas con 7 redes de inversión.

Socio de inversión	Activos bajo administración	Tipo de asociación
Raymond James	$ 940 mil millones	Red de referencia de gestión de patrimonio
LPL Financial	$ 1.2 billones	Colaboración de asesoramiento financiero

Compañías de seguros para productos financieros de venta cruzada

First Merchants Corporation ha establecido asociaciones de venta cruzada con proveedores de seguros para ofrecer soluciones financieras integrales.

• Seguro a nivel nacional - Productos de seguro personal y comercial
• Estado Farm - Gestión de riesgos y servicios de seguro
• Chubb Limited - Ofertas de seguros especializadas

Valor de red de asociación total estimado en $ 3.5 mil millones en servicios financieros colaborativos a partir de 2024.

First Merchants Corporation (FRME) - Modelo de negocio: actividades clave

Servicios de banca comercial y minorista

A partir del cuarto trimestre de 2023, First Merchants Corporation reportó activos totales de $ 21.4 mil millones. El banco opera 130 centros bancarios en Indiana, Ohio, Illinois y Kentucky.

Categoría de servicio bancario	Volumen total (2023)
Préstamos comerciales	$ 12.8 mil millones
Préstamos al consumo	$ 5.6 mil millones
Depósitos totales	$ 18.3 mil millones

Aviso de gestión de patrimonio e inversiones

First Merchants Private Wealth Advisors administra aproximadamente $ 4.2 mil millones en activos bajo administración a partir de 2023.

• Servicios integrales de planificación financiera
• Planificación de jubilación
• Gestión de la cartera de inversiones
• Servicios de planificación de fideicomiso y patrimonio

Desarrollo de la plataforma de banca digital

Las transacciones bancarias digitales aumentaron en un 38% en 2023, con Más de 250,000 usuarios de banca digital activa.

Función de plataforma digital	Estadísticas de uso (2023)
Descargas de aplicaciones de banca móvil	127,500
Transacciones de pago de facturas en línea	2.3 millones
Depósitos de verificación móvil	1.7 millones

Originación de préstamos y servicios de crédito

Los primeros comerciantes procesaron $ 1.9 mil millones en nuevas originaciones de préstamos durante 2023.

• Préstamo de bienes raíces comerciales
• Programas de préstamos para pequeñas empresas
• Préstamo agrícola
• Servicios de crédito al consumidor

Fusiones y adquisiciones en el sector financiero

En 2022, los primeros comerciantes completaron la adquisición de Tower Bancorp por $ 511 millones, expandiendo su presencia en el mercado en Ohio.

Detalles de adquisición	Información financiera
Empresa objetivo	Torre Bancorp
Valor de adquisición	$ 511 millones
Nuevas ramas agregadas	22

First Merchants Corporation (FRME) - Modelo de negocio: recursos clave

Red bancaria regional

First Merchants Corporation opera en 14 condados en Indiana, con 120 ubicaciones bancarias a partir del cuarto trimestre de 2023. Total Bank sucursal se extiende 5 estados: Indiana, Illinois, Ohio, Michigan y Kentucky.

Estado	Número de ramas	Penetración del mercado
Indiana	86	68%
Ohio	16	12%
Michigan	8	6%
Illinois	6	5%
Kentucky	4	3%

Gestión y recursos humanos

A partir de 2023, First Merchants Corporation emplea a 1,987 profesionales bancarios con una experiencia de la industria promedio de 15.6 años.

• Equipo de liderazgo ejecutivo: 7 ejecutivos altos
• Promedio de la tenencia de la gerencia: 12.3 años
• Titulares de grado avanzado: 62% de la gerencia

Infraestructura bancaria digital

La plataforma de banca digital admite 287,000 usuarios activos de banca en línea y 156,000 usuarios de banca móvil a partir del cuarto trimestre de 2023.

Métricas de plataforma digital	2023 estadísticas
Usuarios bancarios en línea	287,000
Usuarios de banca móvil	156,000
Volumen anual de transacción digital	42.3 millones

Cartera de productos financieros

Las ofertas de productos diversificadas incluyen préstamos comerciales, banca personal, gestión de patrimonio y servicios de tesorería.

• Préstamos comerciales: $ 4.2 mil millones
• Cuentas bancarias personales: 312,000
• Activos de gestión de patrimonio: $ 1.8 mil millones

Gestión de la relación con el cliente

El sistema de gestión de relaciones con el cliente rastrea 587,000 relaciones con los clientes con capacidades de análisis de datos avanzados.

Métricas de rendimiento de CRM	2023 datos
Relaciones totales de los clientes	587,000
Tasa de retención de clientes	89.4%
Puntos de contacto anuales de interacción con el cliente	3.2 millones

First Merchants Corporation (FRME) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para empresas e individuos

A partir del cuarto trimestre de 2023, First Merchants Corporation ofrece soluciones bancarias personalizadas con las siguientes métricas financieras:

Categoría de productos	Valor total	Segmento de clientes
Préstamo comercial	$ 2.3 mil millones	Empresas pequeñas a medianas
Banca personal	$ 1.7 mil millones	Clientes individuales

Tasas de interés competitivas y productos financieros

Tasas de interés y ofertas de productos a partir de enero de 2024:

• Cuentas de ahorro personal: 3.75% APY
• Cuentas corrientes de negocios: tasa de interés del 2.25%
• Préstamos comerciales: a partir del 6.50% APR
• Tasas hipotecarias: fijo 30 años al 6.85%

Plataformas integrales de banca digital y móvil

Métricas de plataforma digital	2023 datos
Usuarios de banca móvil	287,000
Volumen de transacciones en línea	$ 4.6 mil millones
Tasa de adopción de banca digital	68.3%

Experiencia en el mercado local y enfoque basado en relaciones

Estadística de presencia y relación del mercado:

• Operando en 6 estados del medio oeste
• Red de sucursales totales: 125 ubicaciones
• Duración promedio de la relación con el cliente: 8.2 años
• Tasa de retención de clientes: 92.5%

Servicios financieros integrados en múltiples segmentos

Segmento de servicio	Activos totales	Contribución de ingresos
Banca comercial	$ 5.2 mil millones	42% de los ingresos totales
Gestión de patrimonio	$ 1.8 mil millones	18% de los ingresos totales
Banca de consumo	$ 3.6 mil millones	35% de los ingresos totales
Servicios de inversión	$ 0.6 mil millones	5% de los ingresos totales

First Merchants Corporation (FRME) - Modelo de negocios: relaciones con los clientes

Gestión de relaciones personales

First Merchants Corporation mantiene 125 centros bancarios en Indiana, Illinois, Ohio y Kentucky a partir de 2023. El banco emplea a 2,127 empleados totales dedicados a la gestión de relaciones con los clientes.

Métrica de interacción del cliente	2023 datos
Frecuencia promedio de interacción con el cliente	3.7 veces por trimestre
Gerentes de relaciones bancarias personales	387 profesionales
Tasa de retención de clientes	84.6%

Soporte bancario en línea y móvil

First Merchants ofrece servicios de banca digital las siguientes métricas:

• Usuarios de banca móvil: 213,456 usuarios activos
• Transacciones de plataforma bancaria en línea: 4.2 millones mensuales
• Tasa de descarga de la aplicación móvil: 67,890 Descargas anuales

Enfoque bancario centrado en la comunidad

Métricas de participación comunitaria para 2023:

Categoría de inversión comunitaria	Cantidad total
Inversiones de la comunidad local	$ 3.7 millones
Financiación de soporte de pequeñas empresas	$ 12.5 millones
Contribuciones caritativas locales	$ 1.2 millones

Canales de servicio al cliente dedicados

La infraestructura de servicio al cliente incluye:

• Centro de llamadas de atención al cliente 24/7
• Tiempo de respuesta promedio: 2.3 minutos
• Representantes de servicio al cliente: 214 miembros del personal

Servicios de consultoría financiera a medida

Desglose de consultoría financiera especializada:

Servicio de consultoría	Volumen anual del cliente	Valor de consulta promedio
Gestión de patrimonio	4.890 clientes	$ 2.3 millones
Planificación de jubilación	6.210 clientes	$ 1.7 millones
Consultoría de banca de negocios	2,340 clientes	$ 4.1 millones

First Merchants Corporation (FRME) - Modelo de negocios: canales

Red de sucursales físicas

A partir de 2023, First Merchants Corporation opera 129 lugares bancarios en Indiana, Ohio, Illinois y Kentucky.

Estado	Número de ramas
Indiana	78
Ohio	27
Illinois	14
Kentucky	10

Plataformas de banca digital

First Merchants proporciona soluciones de banca digital integrales con las siguientes características:

• Acceso a cuenta en línea 24/7
• Monitoreo de transacciones en tiempo real
• Servicios de pago de facturas
• Descargas de extracto de cuenta

Aplicaciones de banca móvil

Las características de la aplicación móvil incluyen:

Capacidad de la aplicación móvil	Disponibilidad
Depósito de cheque móvil	Sí
Pagos de pares	Sí
Controles de tarjetas	Sí
Localizador de cajeros automáticos	Sí

Sitios web de banca en línea

First Merchants ofrece plataformas de banca en línea seguras para clientes personales y comerciales con protocolos de cifrado.

Centros de llamadas de servicio al cliente

First Merchants opera centros de atención al cliente con los siguientes datos de contacto:

• Apoyo bancario personal: 1-800-205-3464
• Soporte de banca comercial: 1-800-260-5265
• Horas de operación: de lunes a viernes de 8 am a 6 pm EST

First Merchants Corporation (FRME) - Modelo de negocios: segmentos de clientes

Empresas pequeñas a medianas

First Merchants atiende a 4.600 clientes comerciales comerciales en sus mercados regionales a partir del cuarto trimestre de 2023. Portafolio total de préstamos comerciales: $ 4.2 mil millones.

Segmento de negocios	Número de clientes	Tamaño promedio del préstamo
Fabricación	872	$ 1.3 millones
Cuidado de la salud	623	$980,000
Servicios profesionales	1,145	$750,000

Clientes de banca minorista individual

Total de clientes de banca minorista: 385,000 al 31 de diciembre de 2023.

• Cuentas corrientes personales: 212,000
• Cuentas de ahorro: 173,000
• Saldo promedio de depósito del cliente: $ 47,500

Clientes bancarios corporativos

El segmento de banca corporativa representa $ 2.8 mil millones en activos totales. Métricas clave del cliente corporativo:

Segmento corporativo	Recuento de clientes	Activos totales bajo administración
Mercado medio	890	$ 1.6 mil millones
Gran corporativo	156	$ 1.2 mil millones

Individuos de alto nivel de red

El segmento de gestión de patrimonio atiende a 3.200 clientes de alto valor de la red con activos totales de $ 680 millones.

Nivel de riqueza	Recuento de clientes	Valor de cartera promedio
Patrimonio neto ultra alto	412	$ 3.2 millones
Alto patrimonio	2,788	$780,000

Comunidad local y enfoque del mercado regional

Operando en 5 estados: Indiana, Illinois, Ohio, Michigan y Kentucky. Cobertura total del mercado: 142 ubicaciones bancarias.

• Indiana: 89 ubicaciones
• Ohio: 23 ubicaciones
• Illinois: 16 ubicaciones
• Michigan: 8 ubicaciones
• Kentucky: 6 ubicaciones

First Merchants Corporation (FRME) - Modelo de negocio: Estructura de costos

Salarios de empleados y compensación

A partir del informe anual de 2023, First Merchants Corporation reportó gastos totales de personal de $ 262.5 millones.

Categoría de compensación	Monto ($)
Salarios base	$ 178.3 millones
Bonos de rendimiento	$ 42.6 millones
Compensación basada en acciones	$ 41.6 millones

Mantenimiento de tecnología e infraestructura

Los costos de infraestructura tecnológica para 2023 totalizaron $ 47.8 millones.

• IT Hardware Investments: $ 18.2 millones
• Licencias de software: $ 12.5 millones
• Sistemas de ciberseguridad: $ 9.3 millones
• Servicios de computación en la nube: $ 7.8 millones

Gastos operativos de la red de sucursales

Los costos operativos totales de la red de sucursales fueron de $ 89.4 millones en 2023.

Categoría de gastos	Monto ($)
Alquiler e instalaciones	$ 42.6 millones
Utilidades	$ 16.3 millones
Mantenimiento	$ 30.5 millones

Costos de cumplimiento regulatorio

Los gastos de cumplimiento para 2023 ascendieron a $ 35.7 millones.

• Aviso legal y regulatorio: $ 15.2 millones
• Capacitación de cumplimiento: $ 6.5 millones
• Informes y documentación: $ 14 millones

Gastos de marketing y adquisición de clientes

El gasto total de marketing fue de $ 22.9 millones en 2023.

Canal de marketing	Gastar ($)
Marketing digital	$ 9.6 millones
Publicidad tradicional	$ 7.3 millones
Programas de adquisición de clientes	$ 6 millones

First Merchants Corporation (FRME) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos e inversiones

Para el año fiscal 2023, First Merchants Corporation informó ingresos por intereses netos de $ 440.1 millones. La cartera de préstamos generó aproximadamente $ 526.8 millones en intereses y tarifas totales.

Categoría de ingresos	Cantidad (2023)
Ingresos por intereses totales	$ 526.8 millones
Ingresos de intereses netos	$ 440.1 millones

Tarifas de servicio bancario

Los cargos de servicio en cuentas de depósito generaron $ 46.3 millones en ingresos durante 2023.

• Ingresos de carga de servicio: $ 46.3 millones
• Tarifas de servicio relacionadas con la tarjeta: $ 18.7 millones

Servicios de asesoramiento de gestión de patrimonio

Wealth Management and Trust Services contribuyó con $ 24.5 millones a los ingresos de la corporación en 2023.

Tarifas de transacción

Las tarifas relacionadas con la transacción ascendieron a $ 22.1 millones para el año fiscal 2023.

Tipo de tarifa de transacción	Ingresos (2023)
Tarifas de transacción de cajeros automáticos	$ 8.6 millones
Tarifas bancarias electrónicas	$ 13.5 millones

Comisiones de productos de inversión

Las comisiones de productos de inversión alcanzaron los $ 17.6 millones en 2023.

• Comisiones de fondos mutuos: $ 9.2 millones
• Comisiones de servicio de corretaje: $ 8.4 millones

Flujos de ingresos totales para 2023: $ 558.9 millones

First Merchants Corporation (FRME) - Canvas Business Model: Value Propositions

You're looking at the core value First Merchants Corporation delivers to its clients and the market as of late 2025. It's built on a foundation of deep regional presence and disciplined execution, which translates directly into tangible financial results for borrowers and investors alike.

A primary value driver is the focus on relationship-based commercial loan growth. This isn't just about volume; it's about earning business through dedicated service. For instance, in the third quarter of 2025, total loans grew by $288.8 million on a linked-quarter basis, which is an annualized increase of 8.7%. This growth was heavily weighted toward the Commercial & Industrial segment, showing that the relationship focus is working in key lending areas.

First Merchants Corporation offers comprehensive financial services for businesses and consumers across its footprint in Indiana, Ohio, and Michigan. The business model is diversified across distinct service lines, which you can see here:

• Commercial Banking
• Consumer Banking
• Mortgage Banking
• Private Wealth Advisors

This breadth allows the institution to be a full-service partner. As of the end of the third quarter of 2025, the total asset size stood at $18.8 billion.

The execution of this model results in strong profitability. You can see the discipline in the key performance indicators from the third quarter of 2025, which clearly supports the value proposition of reliable returns:

Metric	Value (Q3 2025)
Annualized Return on Assets (ROA)	1.22%
Adjusted Earnings Per Share (EPS)	$0.99
Efficiency Ratio (Adjusted)	54.56%
Total Loans	$13.6 billion

The ROA of 1.22% annualized in Q3 2025 places First Merchants Corporation in the top-quartile relative to its peers, which is a direct result of disciplined execution.

Underpinning the commercial success is a deep community commitment and local decision-making. Headquartered in Muncie, Indiana, the bank emphasizes its regional focus, recently announcing the acquisition of First Savings Financial Group to expand its presence into Southern Indiana and the Louisville MSA. The CEO has explicitly stated the commitment to supporting clients and communities, which is a core part of the value offered over larger, more centralized institutions.

Finally, the offering includes full-service Wealth Management and Trust offerings through First Merchants Private Wealth Advisors. This division provides expert-led solutions for intergenerational financial prosperity. To give you a sense of the scale managed by this division, as of Q1 2025, the bank managed $5.8 billion in assets under advisement. Furthermore, the firm's latest 13F filing in September 2025 disclosed 224 equity positions with a total market value of $3 billion.

Finance: draft a comparison table of Q1 2025 vs Q3 2025 ROA by next Tuesday.

First Merchants Corporation (FRME) - Canvas Business Model: Customer Relationships

First Merchants Corporation emphasizes a relationship-driven approach, blending personalized service with modern digital access across its footprint in Indiana, Ohio, and Michigan. The bank operates more than 111 banking center locations as of September 30, 2025, supporting its community-centric model.

Dedicated Commercial Relationship Managers

The focus on commercial lending, which drove portfolio expansion with Commercial & Industrial (C&I) loans growing $66M in Q4 2024 and loan growth accelerating in 2025, suggests a strong reliance on dedicated relationship managers for business clients. This personalized approach is key to securing the loan growth management targeted for mid-to-high single digits in 2025. The bank also announced the addition of a Director of Nonprofit Services in November 2025, further segmenting its relationship management expertise.

Community-based, in-person service model

First Merchants Corporation positions itself as a community bank, prioritizing local needs over a broad, one-size-fits-all national approach. This model is supported by a significant commitment to local investment; the bank has a five-year Community Benefits Plan, through 2025, committing to lend or invest $1.4 billion to communities of color and to low- and moderate-income (LMI) borrowers and communities. The bank offers localized services, including tailored financial products and support for local industry, which is the hallmark of this relationship style. Customer service support is available weekdays from 8 a.m. - 8 p.m. ET and Saturdays from 9 a.m. - 3 p.m. ET.

High-touch Private Banking for affluent clients

The Private Wealth Advisors division provides a high-touch service for affluent clients and institutions. While specific 2025 Assets Under Management (AUM) figures aren't explicitly stated for late 2025, as of late 2024, First Merchants Private Wealth Advisors managed over $4 billion in assets and advised on over $8 billion in assets. This segment is a key revenue driver, contributing 28% of the Noninterest Income stream in the second quarter of 2025. The firm has been investing in technology, like implementing the SS&C Trust Suite in late 2024, to ensure scalability for its high-touch client base.

Self-service digital and mobile banking platforms

First Merchants Corporation supports its in-person model with robust digital capabilities, offering a mobile app for on-the-go banking. The company has been upgrading its technology, including its online and account origination platforms, to simplify the client experience as part of its 2025 strategic focus. The strength of these digital channels helps maintain core relationship balances even as the bank manages its overall deposit mix.

Proactive management of deposit costs with clients

Managing deposit costs is a stated priority, which involves active management of client deposit relationships to optimize funding costs. The bank focuses on building core deposit relationships while actively managing higher-cost categories like public funds and maturity deposits. The total cost of deposits declined by 20 basis points to 2.23% in the first quarter of 2025. This proactive management contributed to margin stability expectations for 2025. Total deposits stood at $14.9 billion as of the third quarter of 2025.

Here's a look at the deposit composition as reported in Q2 2025, which reflects the success of managing these client funding relationships:

Deposit Metric	Value as of Q2 2025	Context/Change
Total Deposits	$14.8 billion	As of quarter-end Q2 2025.
Core Deposits Percentage	91%	Percentage of total deposits.
Noninterest-Bearing Accounts	15%	Percentage of total deposits.
Deposits Yielding 0-5 bps	Approximately 34%	Represents a stable, cost-effective funding source.
Total Cost of Deposits	2.23%	Reported in Q1 2025, down 20 basis points from prior.

Customer-related fees, a direct measure of transactional engagement, totaled $29.4 million in Q2 2025, marking an increase of $2.3 million over the prior quarter. This fee income stream, which also includes service charges at 27% of Noninterest Income, shows the value derived from the active client base.

The relationship strategy is clearly tied to financial outcomes; management expressed confidence in continuing to reduce deposit costs in 2025, noting December 2024 costs were at 2.33%.

• Customer-Related Fees (Q2 2025): $29.4 million
• Increase in Customer-Related Fees (QoQ): $2.3 million
• Total Assets (Q3 2025): $18.8 billion
• Loan to Deposit Ratio (Q3 2025): 91.6%

If onboarding takes 14+ days, churn risk rises.

Finance: draft 13-week cash view by Friday.

First Merchants Corporation (FRME) - Canvas Business Model: Channels

You're looking at how First Merchants Corporation gets its products and services-from basic checking to complex commercial loans-into the hands of its customers as of late 2025. The channel strategy balances a strong physical presence with necessary digital tools, especially as the company integrates its recent acquisition.

Physical branch network (expanding into Louisville MSA)

First Merchants Corporation maintains a significant physical footprint across Indiana, Michigan, and Ohio. As of the third quarter of 2025, the Corporation operated more than 111 banking center locations across these core states. This network is set for an immediate expansion due to the announced acquisition of First Savings Financial Group, Inc., which is expected to close in the first quarter of 2026.

This transaction is key for channel growth, specifically entering the Louisville, Kentucky, market. First Savings adds 16 bank branches in southern Indiana, with 12 of those branches situated within the greater Louisville Metropolitan Statistical Area (MSA). Once the integration is complete, the combined First Merchants banner will operate 127 branches across Indiana, Michigan, and Ohio. This move positions First Merchants to compete in the Louisville MSA, which represents a $45 billion deposit market where First Savings currently holds a 3% share.

Here is a look at the physical footprint, current and projected:

Channel Component	As of Q3 2025 (FRME Only)	Projected Post-Acquisition (Q1 2026 Close)
Total Banking Centers	More than 111	127
States Served	Indiana, Michigan, Ohio	Indiana, Michigan, Ohio
Louisville MSA Branch Count	Minimal/None	12 (from First Savings)

Digital and mobile banking applications

The bank actively uses technology to serve customers, having completed upgrades to its online banking platforms, mobile apps, and real-time wire systems. This digital focus helps streamline operations and enhance customer experience. The wealth management division also utilizes digital channels, managing $5.8 billion in assets under advisement as of the first quarter of 2025. While specific late-2025 mobile adoption rates aren't public, the historical trend showed a nearly 20% increase in digital banking activity since the start of the pandemic.

• Upgraded online banking platforms.
• Mobile apps for on-the-go account management.
• Virtual connection options for business bankers.

Commercial Loan Production Offices

First Merchants Corporation supports its commercial lending efforts through dedicated centers and offices, which are distinct from full-service banking centers. These locations focus on relationship-based business banking and lending solutions. For instance, the bank operates a South Bend Commercial Lending Center and a Commercial Lending Center in Wyandotte, MI. Historically, First Merchants had a plan to open five new branches or loan production offices as part of a $1.4 billion community investment initiative. The First Savings acquisition also bolsters SBA lending capacity, which was a significant area for them, having closed $111 million in 7(a) loans in their 2025 fiscal year so far, compared to First Merchants' just under $8 million.

Customer Service Center (call center)

For customers needing direct support outside of a branch visit, First Merchants provides a centralized service channel. You can reach the general support line at 1.866.833.0050. The Wealth Management team, which handles specialized advisory services, is staffed weekdays from 8 a.m. until 6:00 p.m. EST. The bank emphasizes that its bankers are ready to listen attentively and work with clients to find solutions.

ATM network access

The physical network is supplemented by an ATM network that the bank has committed to enhancing across its footprint. Customers can only make ATM deposits at First Merchants Bank ATM machine locations. While the exact number of ATMs as of late 2025 isn't explicitly stated, the bank provides a locator tool for customers to find these access points alongside their banking centers.

First Merchants Corporation (FRME) - Canvas Business Model: Customer Segments

You're looking at the core client base for First Merchants Corporation (FRME) as of late 2025. This isn't just a list; these are the groups driving the balance sheet, especially the loan growth you see in their filings. First Merchants Corporation, the largest financial holding company based in Central Indiana, focuses its operations across Indiana, Michigan, and Ohio. As of September 30, 2025, the total asset size stood at $18.8 billion.

The customer segments are served through First Merchants Bank and First Merchants Private Wealth Advisors, operating across more than 111 banking center locations in their core Midwest markets.

Commercial & Industrial (C&I) businesses (primary loan growth driver)

This is where the action is for loan expansion. The overall loan portfolio remains heavily weighted toward commercial business, making up approximately 75% of total loans as of mid-2025. The C&I segment is consistently cited as the primary driver of this growth. For instance, in the second quarter of 2025, commercial loan growth was strong at an annualized rate of 10.7%. Specifically, C&I loans increased by $147 million in Q2 2025, following a $248 million increase in Q1 2025, often tied to funding capital expenditure (CapEx) and M&A pipelines.

Retail consumers in Indiana, Ohio, and Michigan

Retail consumers form the base for consumer banking and mortgage activities. While commercial lending drives the portfolio composition, consumer loans still saw positive momentum, growing by $36 million or 4.4% in the second quarter of 2025. The consumer deposit base is also critical, though commercial deposits saw larger fluctuations. The bank is focused on providing attentive financial solutions to these diverse communities.

Small to mid-sized businesses (SMBs)

SMBs are largely captured within the broader Commercial Banking segment, which includes C&I and other business lending. The growth in C&I loans reflects activity from these businesses seeking financing for expansion. The bank explicitly mentions local bankers who know your small business as part of its offering.

High-net-worth individuals (Wealth Management clients)

This group is served by First Merchants Private Wealth Advisors. They seek more than just one-off transactions, focusing on estate planning and comprehensive financial management. As of the first quarter of 2025, the wealth management division managed $5.8 billion in assets under advisement. Wealth management is also a significant contributor to fee income, alongside service charges.

Real estate developers and investors

This group falls under the commercial lending umbrella, specifically the Investment Real Estate (IRE) portfolio. While C&I is the primary growth engine, the IRE portfolio saw a decline of $96 million in Q1 2025, which was offset by C&I growth. The bank maintains a disciplined underwriting approach in this area amid market dynamics.

Here's a quick look at how the major segments stack up based on recent financial reporting:

Customer Segment Focus	Key Metric	Latest Reported Value (2025)	Reporting Period
Overall Footprint	Total Banking Centers	More than 111	As of Q3 2025
Commercial Banking (C&I/SMB/RE)	Loan Portfolio Percentage	Approximately 75%	Q2 2025
Commercial & Industrial (C&I)	Loan Growth (Annualized)	10.7%	Q2 2025
Retail Consumers	Consumer Loan Growth (Annualized)	4.4%	Q2 2025
Wealth Management (HNW)	Assets Under Advisement	$5.8 billion	Q1 2025

The focus on the Midwest markets-Indiana, Ohio, and Michigan-is clear, as the bank continues to expand its presence there, including a pending strategic acquisition announced in Q3 2025 that adds exposure to Southern Indiana and the Louisville MSA.

• Geographic Core: Indiana, Ohio, and Michigan.
• Total Assets: $18.8 billion.
• Total Loans: $13.3 billion.
• Commercial Loan Growth Driver: C&I pipeline funding.
• Wealth Management Focus: Estate planning and legacy securing.

First Merchants Corporation (FRME) - Canvas Business Model: Cost Structure

You're looking at the expenses First Merchants Corporation incurs to run its business as of late 2025, which is heavily influenced by the competitive deposit environment and recent strategic moves like the First Savings acquisition.

Interest expense on deposits (rising due to competitive dynamics)

The cost of funding is a major component, and you see the pressure from competitive dynamics in the deposit rates. For the first quarter of 2025, the Interest Expense on Interest-bearing Deposits was reported at $\text{\$89,835 thousand}$. By the third quarter of 2025, the total cost of deposits had climbed, increasing $\text{14 basis points}$ to reach $\text{2.44%}$. This trend shows that attracting and retaining deposits costs more now.

Personnel expenses (salaries and incentives)

Salaries and benefits are a significant, recurring cost. For the third quarter of 2025, First Merchants Corporation reported $\text{\$57,317 thousand}$ for Salaries and employee benefits. Looking at the year-to-date through Q3 2025, this expense category totaled $\text{\$166,826 thousand}$.

Data processing and technology infrastructure costs

Technology is a necessary investment, but it shows up as a recurring operating cost. Outside data processing fees for the third quarter of 2025 were $\text{\$6,943 thousand}$. This followed a quarter where noninterest expense rose due to higher data processing costs. Management has been focused on upgrades to platforms like account origination and online systems, which are part of this cost base.

Occupancy and equipment costs for 100+ banking centers

Maintaining the physical footprint-over $\text{100 banking centers}$-involves fixed costs for space and hardware. Following the announced acquisition, the combined entity is projected to operate $\text{127 branches}$ across Indiana, Michigan, and Ohio. Here's a breakdown of the recent quarterly costs for the existing structure:

Cost Component	Q3 2025 (in thousands)	Q2 2025 (in thousands)
Net Occupancy	$7,057	$6,994
Equipment	$6,998	$6,949

It's clear these occupancy and equipment costs are relatively stable quarter-over-quarter.

Acquisition and integration expenses (e.g., First Savings)

Strategic growth through acquisition brings one-time and short-term integration costs. First Merchants Corporation announced the all-stock acquisition of First Savings Financial Group, valued at approximately $\text{\$241.3 million}$. For the third quarter of 2025, noninterest expense specifically included $\text{\$0.9 million}$ related to severance and acquisition costs. The integration is targeted for completion during the second quarter of 2026.

You need to track those integration costs closely as they hit the expense line item.

• Salaries and employee benefits (Q3 2025): $\text{\$57,317 thousand}$
• Net Occupancy (Q3 2025): $\text{\$7,057 thousand}$
• Equipment (Q3 2025): $\text{\$6,998 thousand}$
• Outside data processing fees (Q3 2025): $\text{\$6,943 thousand}$
• Acquisition-related severance and costs (Q3 2025): $\text{\$0.9 million}$

Finance: draft 13-week cash view by Friday.

First Merchants Corporation (FRME) - Canvas Business Model: Revenue Streams

You're looking at how First Merchants Corporation actually brings in the money, which for a bank like FRME, boils down to two main buckets: the interest they earn and the fees they charge. As of late 2025, specifically looking at the third quarter results, the core engine is definitely the lending side.

Net Interest Income (NII) is the big one, representing the difference between the interest First Merchants Corporation earns on its assets, like loans, and the interest it pays out on liabilities, like deposits. For Q3 2025, this key metric came in at $133.7 million. This shows the primary value capture mechanism for the business. The Net Interest Margin (NIM) for the quarter was reported at 3.24% (fully tax equivalent), which management noted was essentially stable compared to the prior quarter.

The foundation of that NII is the loan book. As of the end of Q3 2025, the total loan portfolio for First Merchants Corporation stood at $13.6 billion. This portfolio saw significant expansion, growing by $288.8 million, or 8.7% annualized, on a linked quarter basis. Growth was primarily noted in the Commercial & Industrial segment. This entire portfolio generates the interest income component of the NII.

Here's a quick look at the scale of the asset base driving that interest revenue:

Metric	Value (Q3 2025 End)
Total Loans	$13.6 billion
Loan Growth (Linked Quarter Annualized)	8.7%
Loan Growth (Last Twelve Months)	7.3%

The second major revenue stream is Noninterest Income, which hit $32.5 million in Q3 2025. This figure was up 30.6% from the third quarter of 2024, though linked-quarter growth was more modest at 3.8%. This income is derived from various fee-based services that don't involve direct lending interest.

The components making up this Noninterest Income are crucial for diversification. You want to see these fee lines holding steady or growing, as they are less sensitive to interest rate swings than NII. The key fee-based drivers for First Merchants Corporation include:

• Treasury Management fees
• Card Payment fees
• Wealth Management and Trust service fees

Honestly, customer-related fees were reported as stable on a linked quarter basis in Q3 2025, which is a good sign of consistent service revenue. The year-over-year increase in total Noninterest Income was partially due to realized losses on securities sales in the prior year period, so you have to look past that one-time event to see the true fee-based performance. The total revenue picture for the quarter, combining NII and Noninterest Income, supported pre-tax, pre-provision earnings of $70.5 million.

Finance: draft Q4 2025 fee income projection by next Tuesday.