Short answer
FIRST MERCHANTS CORP (FRME) filed an 8-K current report with the SEC on September 25, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation). $100 million subordinated notes due October 1, 2036, strengthening First Merchants’ funding and regulatory capital base.
FIRST MERCHANTS CORP 8-K event analysis
AI summary of each reported item and its exhibits
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
- Floating-rate period begins October 1, 2031 at benchmark plus 202 basis points, resetting quarterly
- Callable at 100% beginning October 1, 2031, subject to Federal Reserve approval where required
- Subordinated debt increases leverage and future interest obligations while potentially qualifying as Tier 2 capital
Other items in this filing:
- Item 2.03: Creation of a Direct Financial Obligation
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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