First Merchants Corporation (FRME): Canvas de modelo de negócios [Jan-2025 Atualizado]

A First Merchants Corporation (FRME) representa uma potência financeira dinâmica posicionada estrategicamente nos Estados Unidos do Centro -Oeste, oferecendo uma abordagem abrangente e inovadora do setor bancário que transcende os modelos de serviço tradicionais. Ao misturar perfeitamente o relacionamento personalizado dos clientes com plataformas digitais de ponta, esse líder regional bancário criou um modelo de negócios sofisticado que atende às complexas necessidades financeiras de empresas, indivíduos e comunidades. Através de parcerias estratégicas, produtos financeiros diversificados e uma abordagem orientada para o relacionamento, a First Merchants Corporation se distinguiu como uma instituição financeira flexível e com visão de futuro preparada para fornecer valor excepcional em vários segmentos de clientes.

First Merchants Corporation (FRME) - Modelo de negócios: Parcerias -chave

Bancos locais e regionais para colaborações estratégicas

A First Merchants Corporation mantém parcerias estratégicas com várias instituições bancárias regionais em Indiana, Illinois, Ohio e Michigan. No quarto trimestre 2023, a corporação estabeleceu redes colaborativas com aproximadamente 12 entidades bancárias locais.

Banco Parceiro	Estado	Foco em parceria
Old National Bank	Indiana	Colaboração de empréstimos comerciais
Horizon Bank	Indiana	Serviços financeiros para pequenas empresas

Provedores de serviços de tecnologia financeira (FinTech)

A First Merchants Corporation integrou parcerias com provedores especializados de serviços da Fintech para aprimorar os recursos bancários digitais.

• Jack Henry & Associados - Integração da plataforma bancária digital
• FISERV - Soluções de tecnologia bancária principal
• Plaid - Serviços de conectividade de dados financeiros

Empresas de investimento e redes de gerenciamento de patrimônio

A corporação possui parcerias estratégicas com empresas de investimento para expandir os serviços de gerenciamento de patrimônio. A partir de 2023, os primeiros comerciantes têm relações colaborativas com 7 redes de investimento.

Parceiro de investimento	Ativos sob gestão	Tipo de parceria
Raymond James	US $ 940 bilhões	Rede de referência de gerenciamento de patrimônio
LPL Financial	US $ 1,2 trilhão	Colaboração de consultoria financeira

Companhias de seguros para produtos financeiros de venda cruzada

A First Merchants Corporation estabeleceu parcerias de venda cruzada com provedores de seguros para oferecer soluções financeiras abrangentes.

• Seguro em todo o país - produtos de seguro pessoal e comercial
• Estado Fazenda - Gerenciamento de Riscos e Serviços de Seguros
• Chubb Limited - ofertas de seguros especializadas

Valor da rede de parcerias totais estimado em US $ 3,5 bilhões em serviços financeiros colaborativos a partir de 2024.

First Merchants Corporation (FRME) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e de varejo

A partir do quarto trimestre de 2023, a First Merchants Corporation registrou ativos totais de US $ 21,4 bilhões. O banco opera 130 centros bancários em Indiana, Ohio, Illinois e Kentucky.

Categoria de serviço bancário	Volume total (2023)
Empréstimos comerciais	US $ 12,8 bilhões
Empréstimos ao consumidor	US $ 5,6 bilhões
Total de depósitos	US $ 18,3 bilhões

Gerenciamento de patrimônio e consultoria de investimento

A First Merchants Private Wealth Advisors gerencia aproximadamente US $ 4,2 bilhões em ativos sob gestão a partir de 2023.

• Serviços abrangentes de planejamento financeiro
• Planejamento de aposentadoria
• Gerenciamento de portfólio de investimentos
• Serviços de confiança e planejamento imobiliário

Desenvolvimento da plataforma bancária digital

As transações bancárias digitais aumentaram 38% em 2023, com Mais de 250.000 usuários de bancos digitais ativos.

Recurso da plataforma digital	Estatísticas de uso (2023)
Downloads de aplicativos bancários móveis	127,500
Transações de pagamento de contas on -line	2,3 milhões
Depósitos de cheque móvel	1,7 milhão

Serviços de Origem e Crédito empréstimos

Os primeiros comerciantes processaram US $ 1,9 bilhão em novas origens de empréstimos durante 2023.

• Empréstimos imobiliários comerciais
• Programas de empréstimos para pequenas empresas
• Empréstimos agrícolas
• Serviços de crédito ao consumidor

Fusões e aquisições no setor financeiro

Em 2022, os primeiros comerciantes concluíram a aquisição da Tower Bancorp por US $ 511 milhões, expandindo sua presença no mercado em Ohio.

Detalhes da aquisição	Informações financeiras
Empresa -alvo	Tower Bancorp
Valor de aquisição	US $ 511 milhões
Novas ramificações adicionadas	22

First Merchants Corporation (FRME) - Modelo de negócios: Recursos -chave

Rede Bancária Regional

A First Merchants Corporation opera em 14 municípios de Indiana, com 120 locais bancários a partir do quarto trimestre 2023. A rede total da agência bancária se estende por 5 estados: Indiana, Illinois, Ohio, Michigan e Kentucky.

Estado	Número de ramificações	Penetração de mercado
Indiana	86	68%
Ohio	16	12%
Michigan	8	6%
Illinois	6	5%
Kentucky	4	3%

Gestão e recursos humanos

A partir de 2023, a First Merchants Corporation emprega 1.987 profissionais bancários com uma experiência média do setor de 15,6 anos.

• Equipe de liderança executiva: 7 executivos seniores
• Posse média de gerenciamento: 12,3 anos
• Titulares de graduação avançada: 62% da administração

Infraestrutura bancária digital

A plataforma bancária digital suporta 287.000 usuários de bancos on -line ativos e 156.000 usuários de bancos móveis a partir do quarto trimestre 2023.

Métricas de plataforma digital	2023 Estatísticas
Usuários bancários online	287,000
Usuários bancários móveis	156,000
Volume anual de transação digital	42,3 milhões

Portfólio de produtos financeiros

As ofertas diversificadas de produtos incluem empréstimos comerciais, bancos pessoais, gerenciamento de patrimônio e serviços de tesouraria.

• Empréstimos comerciais: US $ 4,2 bilhões
• Contas bancárias pessoais: 312.000
• Ativos de gerenciamento de patrimônio: US $ 1,8 bilhão

Gerenciamento de relacionamento com o cliente

O sistema de gerenciamento de relacionamento com o cliente rastreia 587.000 relacionamentos com os clientes com recursos avançados de análise de dados.

Métricas de desempenho do CRM	2023 dados
Total de relacionamentos do cliente	587,000
Taxa de retenção de clientes	89.4%
Pontos de contato anuais de interação do cliente	3,2 milhões

First Merchants Corporation (FRME) - Modelo de negócios: proposições de valor

Soluções bancárias personalizadas para empresas e indivíduos

A partir do quarto trimestre 2023, a First Merchants Corporation oferece soluções bancárias personalizadas com as seguintes métricas financeiras:

Categoria de produto	Valor total	Segmento de clientes
Empréstimos comerciais	US $ 2,3 bilhões	Pequenas a médias empresas
Bancos pessoais	US $ 1,7 bilhão	Clientes individuais

Taxas de juros competitivas e produtos financeiros

Taxas de juros e ofertas de produtos em janeiro de 2024:

• Contas de poupança pessoal: 3,75% APY
• Contas de corrente de negócios: 2,25% de taxa de juros
• Empréstimos comerciais: a partir de 6,50% de APR
• Taxas de hipoteca: fixado 30 anos a 6,85%

Plataformas bancárias digitais e móveis abrangentes

Métricas de plataforma digital	2023 dados
Usuários bancários móveis	287,000
Volume de transações online	US $ 4,6 bilhões
Taxa de adoção bancária digital	68.3%

Experiência no mercado local e abordagem orientada por relacionamento

Presença de mercado e estatísticas de relacionamento:

• Operando em 6 estados do meio -oeste
• Rede total de ramificação: 125 locais
• Duração média do relacionamento do cliente: 8,2 anos
• Taxa de retenção de clientes: 92,5%

Serviços financeiros integrados em vários segmentos

Segmento de serviço	Total de ativos	Contribuição da receita
Bancos comerciais	US $ 5,2 bilhões	42% da receita total
Gestão de patrimônio	US $ 1,8 bilhão	18% da receita total
Bancos bancários do consumidor	US $ 3,6 bilhões	35% da receita total
Serviços de investimento	US $ 0,6 bilhão	5% da receita total

First Merchants Corporation (FRME) - Modelo de Negócios: Relacionamentos do Cliente

Gerenciamento de relacionamento pessoal

A First Merchants Corporation mantém 125 centros bancários em Indiana, Illinois, Ohio e Kentucky a partir de 2023. O banco emprega 2.127 funcionários totais dedicados ao gerenciamento de relacionamento com clientes.

Métrica de interação do cliente	2023 dados
Frequência média de interação do cliente	3,7 vezes por trimestre
Gerentes de relacionamento bancário pessoal	387 profissionais
Taxa de retenção de clientes	84.6%

Suporte bancário online e móvel

A First Merchants fornece serviços bancários digitais com as seguintes métricas:

• Usuários bancários móveis: 213.456 usuários ativos
• Transações da plataforma bancária online: 4,2 milhões mensais
• Taxa de download de aplicativos móveis: 67.890 Downloads anuais

Abordagem bancária focada na comunidade

Métricas de engajamento da comunidade para 2023:

Categoria de investimento comunitário	Montante total
Investimentos da comunidade local	US $ 3,7 milhões
Financiamento de suporte para pequenas empresas	US $ 12,5 milhões
Contribuições de caridade locais	US $ 1,2 milhão

Canais de atendimento ao cliente dedicados

A infraestrutura de atendimento ao cliente inclui:

• 24/7 de suporte ao cliente de call center
• Tempo médio de resposta: 2,3 minutos
• Representantes de atendimento ao cliente: 214 funcionários

Serviços de consultoria financeira personalizada

Aparelhamento especializado em consultoria financeira:

Serviço de consultoria	Volume anual do cliente	Valor médio de consulta
Gestão de patrimônio	4.890 clientes	US $ 2,3 milhões
Planejamento de aposentadoria	6.210 clientes	US $ 1,7 milhão
Consultoria bancária de negócios	2.340 clientes	US $ 4,1 milhões

First Merchants Corporation (FRME) - Modelo de Negócios: Canais

Rede de ramificação física

A partir de 2023, a First Merchants Corporation opera 129 locais bancários em Indiana, Ohio, Illinois e Kentucky.

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

Plataformas bancárias digitais

Os primeiros comerciantes fornecem soluções abrangentes bancárias digitais com os seguintes recursos:

• 24/7 de acesso à conta online
• Monitoramento de transações em tempo real
• Serviços de pagamento de contas
• Downloads de declaração de conta

Aplicativos bancários móveis

Os recursos do aplicativo móvel incluem:

Capacidade de aplicativo móvel	Disponibilidade
Depósito de cheque móvel	Sim
Pagamentos ponto a ponto	Sim
Controles de cartão	Sim
Localizador ATM	Sim

Sites bancários online

A First Merchants oferece plataformas bancárias on -line seguras para clientes pessoais e comerciais com protocolos de criptografia.

Centros de atendimento ao cliente

Os primeiros comerciantes opera centros de suporte ao cliente com os seguintes detalhes de contato:

• Suporte bancário pessoal: 1-800-205-3464
• Suporte bancário de negócios: 1-800-260-5265
• Horário de operação: Segunda a sexta, das 8h às 18h EST

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

Pequenas e médias empresas

A First Merchants atende a 4.600 clientes comerciais em seus mercados regionais a partir do quarto trimestre 2023. A carteira total de empréstimos comerciais: US $ 4,2 bilhões.

Segmento de negócios	Número de clientes	Tamanho médio do empréstimo
Fabricação	872	US $ 1,3 milhão
Assistência médica	623	$980,000
Serviços profissionais	1,145	$750,000

Clientes bancários de varejo individuais

Total de clientes bancários de varejo: 385.000 em 31 de dezembro de 2023.

• Contas de corrente pessoal: 212.000
• Contas de poupança: 173.000
• Saldo médio de depósito de cliente: US $ 47.500

Clientes bancários corporativos

O segmento bancário corporativo representa US $ 2,8 bilhões em ativos totais. Métricas principais do cliente corporativo:

Segmento corporativo	Contagem de clientes	Total de ativos sob gestão
Mercado intermediário	890	US $ 1,6 bilhão
Grande corporativa	156	US $ 1,2 bilhão

Indivíduos de alta rede

O segmento de gerenciamento de patrimônio atende a 3.200 clientes de alta rede com ativos totais de US $ 680 milhões.

Nível de riqueza	Contagem de clientes	Valor médio do portfólio
Patrimônio líquido ultra alto	412	US $ 3,2 milhões
Alto patrimônio líquido	2,788	$780,000

Comunidade local e foco do mercado regional

Operando em 5 estados: Indiana, Illinois, Ohio, Michigan e Kentucky. Cobertura total do mercado: 142 locais bancários.

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

First Merchants Corporation (FRME) - Modelo de negócios: estrutura de custos

Salários e compensação dos funcionários

A partir de 2023 Relatório Anual, a First Merchants Corporation registrou despesas totais de pessoal de US $ 262,5 milhões.

Categoria de compensação	Valor ($)
Salários da base	US $ 178,3 milhões
Bônus de desempenho	US $ 42,6 milhões
Remuneração baseada em ações	US $ 41,6 milhões

Manutenção de tecnologia e infraestrutura

Os custos de infraestrutura de tecnologia para 2023 totalizaram US $ 47,8 milhões.

• Investimentos de hardware de TI: US $ 18,2 milhões
• Licenciamento de software: US $ 12,5 milhões
• Sistemas de segurança cibernética: US $ 9,3 milhões
• Serviços de computação em nuvem: US $ 7,8 milhões

Despesas operacionais da rede de filiais

Os custos operacionais totais da rede de filiais foram de US $ 89,4 milhões em 2023.

Categoria de despesa	Valor ($)
Aluguel e instalações	US $ 42,6 milhões
Utilitários	US $ 16,3 milhões
Manutenção	US $ 30,5 milhões

Custos de conformidade regulatória

As despesas de conformidade em 2023 totalizaram US $ 35,7 milhões.

• Aviso legal e regulatório: US $ 15,2 milhões
• Treinamento de conformidade: US $ 6,5 milhões
• Relatórios e documentação: US $ 14 milhões

Despesas de marketing e aquisição de clientes

As despesas totais de marketing foram de US $ 22,9 milhões em 2023.

Canal de marketing	Gastar ($)
Marketing digital	US $ 9,6 milhões
Publicidade tradicional	US $ 7,3 milhões
Programas de aquisição de clientes	US $ 6 milhões

First Merchants Corporation (FRME) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos e investimentos

Para o ano fiscal de 2023, a First Merchants Corporation registrou receita de juros líquidos de US $ 440,1 milhões. A carteira de empréstimos gerou aproximadamente US $ 526,8 milhões em juros e taxas totais.

Categoria de receita	Valor (2023)
Receita total de juros	US $ 526,8 milhões
Receita de juros líquidos	US $ 440,1 milhões

Taxas de serviço bancário

As taxas de serviço em contas de depósito geraram US $ 46,3 milhões em receita durante 2023.

• Receita de cobrança de serviço: US $ 46,3 milhões
• Taxas de serviço relacionadas a cartas: US $ 18,7 milhões

Serviços de consultoria de gestão de patrimônio

Os serviços de gestão e confiança de patrimônio contribuíram com US $ 24,5 milhões para a receita da corporação em 2023.

Taxas de transação

As taxas relacionadas à transação totalizaram US $ 22,1 milhões para o ano fiscal de 2023.

Tipo de taxa de transação	Receita (2023)
Taxas de transação ATM	US $ 8,6 milhões
Taxas bancárias eletrônicas	US $ 13,5 milhões

Comissões de produtos de investimento

As comissões de produtos de investimento atingiram US $ 17,6 milhões em 2023.

• Comissões de fundos mútuos: US $ 9,2 milhões
• Comissões de serviço de corretagem: US $ 8,4 milhões

Fluxos totais de receita para 2023: US $ 558,9 milhões

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.