FRME at a glance
FIRST MERCHANTS CORP (FRME, SEC CIK 712534) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on July 31, 2026, an 8-K current report on October 1, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), FIRST MERCHANTS CORP (FRME) reported revenue of $924.8 million (down 2.4% from FY2024) and net income of $226.0 million. Diluted EPS was $3.88.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding FIRST MERCHANTS CORP (FRME) shares worth $1.1 billion in 13F-HR filings.
- In the last 90 days, FRME insiders reported 0 open-market purchases ($0) and 1 open-market sale ($176K) on Form 4, a net sale of $176K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $924.8M
- −2.4% vs prior year
- Insiders · 90 days
- 0 buys · 1 sell
- Net −$176K
- 13F holders
- 31 funds
- $1.1B · −1 vs prior quarter
- Latest 8-K
- Oct 1, 2026
- Item 8.01 · Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Regional bank offering a range of financial products and services amidst intense industry competition
- Emphasis on adapting to technological changes and increased competition from fintech firms with fewer regulatory constraints
- Strategic focus on talent retention amid fierce competition for skilled personnel and regulatory challenges on incentive compensation
- Noteworthy challenge: Need for capital spending driven by industry-wide technological and operational changes
- Competitive landscape includes traditional banks plus non-bank fintech companies with lower cost structures and aggressive pricing
Risk Factors
- Regulatory risk from merger approval by federal and state banking regulators related to First Savings acquisition with $0.8M merger expenses
- Macroeconomic exposure to Midwest regional economy through $2.4B asset base added by First Savings acquisition in Indiana
- Operational risk integrating 16 new banking centers from First Savings with differing systems and processes post-merger
- Competitive risk from regional banks expanding digital services challenging First Merchants’ electronic and mobile delivery channels
- Financial risk from concentration in community banking segment with $1.9B loans and $1.7B deposits primarily in Indiana, Ohio, Michigan
Management Discussion & Analysis
- Dividends available from subsidiaries $228.9M as of Dec 31, 2025 without regulatory approval
- Preferred stock outstanding $25.0M with 7.5% dividend, paid $1.9M in dividends in 2025
- Stock repurchases: 1.2M shares bought in 2025 for $46.9M, 1.7M shares remain, $53.1M authorization left
- Excise tax on repurchases $0.4M for 2025 under Inflation Reduction Act
- No explicit revenue or profitability figures, no forward-looking guidance in provided text
AI summary of the FRME 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Share repurchases 337,537 shares at $39.80 average price during Q2 2026
- Repurchases under program 336,145 shares during the quarter
- Prior program cumulative repurchases 2,187,855 shares for $85.2 million
- New program authorized for 3,125,000 shares and up to $100 million
AI summary of the FRME 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- Executive management group change announced October 1, 2026
- Leadership update may affect strategic priorities and operating execution
Item 5.02: Departure/Appointment of Directors or Principal Officers
- CEO Mark K. Hardwick retiring effective January 1, 2027
- Michael J. Stewart succeeding Hardwick as President and principal executive officer
Item 1.01: Entry into a Material Definitive Agreement
- $100 million subordinated notes due October 1, 2036, strengthening First Merchants’ funding and regulatory capital base
- 6.750% fixed coupon through September 30, 2031, with semiannual payments beginning April 1, 2027
Item 8.01: Other Events
- First Merchants priced an offering of Notes on September 23, 2026
- Debt issuance creates new financing obligations for the Corporation
Item EX-99.1: Item EX-99.1
- $100 million subordinated notes priced at 6.750% fixed interest through October 1, 2031
- Floating rate thereafter at expected Three-Month Term SOFR plus 202 basis points, creating future interest-rate exposure
Item 1.01: Entry into a Material Definitive Agreement
- $100 million subordinated notes due 2036, strengthening First Merchants’ regulatory capital and funding flexibility
- 6.750% fixed-to-floating coupon creates substantial interest expense and future floating-rate exposure
AI summaries of FRME 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for FRME
Don't miss the next FRME filing
- Alerts as it files. A push when FRME files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut FRME, by share count.
- Ask anything. An AI agent that reads every FRME filing and answers with sources.
FRME alerts on your phone. Follow it in the SignalX Android app.
Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Becher Michael R | A | Sep 30, 2026 | 608 | $39.78 |
| Johnson Kevin D | A | Sep 30, 2026 | 549 | $39.78 |
| Myers Larry W | A | Sep 30, 2026 | 569 | $39.78 |
| Sondhi Jason R | A | Sep 30, 2026 | 589 | $39.78 |
| KELLOGG CLARK C | A | Sep 30, 2026 | 569 | $39.78 |
| Brooks Susan W | A | Sep 30, 2026 | 569 | $39.78 |
| Halderman Howard | A | Sep 30, 2026 | 589 | $39.78 |
| FISHER MICHAEL J | A | Sep 30, 2026 | 549 | $39.78 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|
| Profitability | ||||
| Revenue | $893.9M | $948.0M | $924.8M | |
| Net Income | $223.8M | $201.4M | $226.0M | |
| Net Margin | 25.0% | 21.2% | 24.4% | |
| Balance Sheet | ||||
| Total Assets | $18.4B | $18.3B | $19.0B | |
| Equity | $2.2B | $2.3B | $2.5B | |
| ROE | 10.0% | 8.7% | 9.2% | |
| Per Share | ||||
| EPS | $3.73 | $3.41 | $3.88 | |
| Cash Flow | ||||
| Operating CF | $258.8M | $266.2M | $283.6M | |
Source: XBRL data in FIRST MERCHANTS CORP (FRME)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate FRME share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $1.06B |
| Q1 2026 | 32 | $919.3M |
| Q4 2025 | 28 | $827.5M |
| Q3 2025 | 30 | $885.9M |
| Q2 2025 | 30 | $865.4M |
| Q1 2025 | 27 | $727.0M |
| Q4 2024 | 23 | $649.9M |
| Q3 2024 | 19 | $345.2M |
- BlackRock+425.4K (+9%)
- State Street Corp+311.5K (+14%)
- AQR Capital Management+161.5K (+40%)
- JPMorgan Chase & Co+109.9K (+21%)
- Dimensional Fund Advisors+93.8K (+3%)
- Goldman Sachs Group−440.1K (-39%)
- BNY Mellon−344.1K (-45%)
- Bank of America Corp−37.3K (-15%)
- Citadel Advisors LLC−14.9K (-10%)
- Morgan Stanley−13.1K (-6%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 220 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
FRME filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 8-K | Oct 1, 2026 | - | Analysis | - |
| 8-K | Sep 25, 2026 | - | Analysis | - |
| 8-K | Sep 24, 2026 | - | Analysis | - |
| 4 | Sep 22, 2026 | - | - | - |
| 4 | Sep 22, 2026 | - | - | - |
| 4 | Aug 21, 2026 | - | - | - |
| 8-K | Aug 14, 2026 | - | Analysis | - |
| 4 | Aug 12, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
| 4 | Aug 4, 2026 | - | - | - |
Related Financials companies
- ALRS · ALERUS FINANCIAL CORPNational Commercial Banks
- AMTB · Amerant Bancorp Inc.National Commercial Banks
- ATLO · AMES NATIONAL CORPNational Commercial Banks
- AROW · ARROW FINANCIAL CORPNational Commercial Banks
- BANC · BANC OF CALIFORNIA, INC.National Commercial Banks
- BANF · BANCFIRST CORP /OK/National Commercial Banks
- TBBK · Bancorp, Inc.National Commercial Banks
- BFC · Bank First CorpNational Commercial Banks
FRME SEC filings: frequently asked questions
Are FRME insiders buying or selling?
In the last 90 days, FIRST MERCHANTS CORP (FRME) officers, directors and 10% owners reported no open-market purchases and 1 open-market sale worth $176,256 by 1 insider on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold FRME stock?
As of June 30, 2026, the largest FIRST MERCHANTS CORP (FRME) holders among the 13F filers tracked by SignalX were BlackRock ($232.6 million), Dimensional Fund Advisors ($161.2 million), Vanguard Portfolio Management LLC ($148.7 million), Vanguard Capital Management LLC ($118.9 million), State Street Corp ($111.5 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was FRME's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), FIRST MERCHANTS CORP (FRME) reported revenue of $924.8 million (down 2.4% from FY2024) and net income of $226.0 million. Diluted EPS was $3.88. The figures come from the XBRL data in the 10-K.
What are the main risks in FRME's latest 10-K?
In the 10-K filed February 25, 2026, FIRST MERCHANTS CORP (FRME) flagged: Regulatory risk from merger approval by federal and state banking regulators related to First Savings acquisition with $0.8M merger expenses. Macroeconomic exposure to Midwest regional economy through $2.4B asset base added by First Savings acquisition in Indiana. (AI summary of the Risk Factors section.)
What did FRME report in its latest 8-K?
FIRST MERCHANTS CORP (FRME) filed an 8-K on October 1, 2026 reporting Item 8.01 (Other Events) and Item 5.02 (Departure/Appointment of Directors or Principal Officers). Executive management group change announced October 1, 2026.
What are the latest FRME SEC filings?
FIRST MERCHANTS CORP (FRME) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on July 31, 2026, an 8-K current report on October 1, 2026 and a Form 4 insider filing on October 2, 2026.
What is FRME's SEC CIK number?
FIRST MERCHANTS CORP (FRME)'s SEC Central Index Key (CIK) is 712534. EDGAR lists every FRME filing under that number.
Ask anything about FRME
The research agent reads FRME's filings, financials, insider trades and 13F holders, then answers with sources.