First Merchants Appoints Former Acquired Bank CEO Larry Myers to Board

summarizeSummary

First Merchants Corporation appointed Larry W. Myers, former CEO of recently acquired First Savings Bank, to its Board of Directors, enhancing post-merger integration and regional expertise.

check_boxKey Events

• Board Expansion and Appointment

  The Board of Directors increased its size from twelve to thirteen members, appointing Larry W. Myers to fill the new vacancy. His initial term will continue until the 2026 Annual Meeting of Shareholders.

• Strategic Integration Post-Merger

  Mr. Myers previously served as President and CEO of First Savings Bank, which First Merchants Corporation recently acquired. His appointment is a key step in integrating leadership and leveraging his extensive banking experience and knowledge of the southern Indiana market.

• Committee Assignment

  Mr. Myers has been appointed to serve on the Corporation's Risk and Credit Policy Committee.

• Director Compensation Details

  Mr. Myers will receive pro rata director compensation starting in the third quarter of 2026, following the completion of his temporary employee role for merger integration.

auto_awesomeAnalysis

This appointment is a strategic move following the recent acquisition of First Savings Financial Group, Inc., which completed on February 2, 2026. Integrating key leadership from the acquired entity onto the board helps ensure continuity, leverages deep regional market knowledge, and supports effective post-merger integration. Mr. Myers' role on the Risk and Credit Policy Committee is particularly relevant for a financial institution. This move signals a commitment to a smooth and successful integration, which is positive for long-term shareholder value.