First Merchants Corporation, incorporated on September 20, 1982, is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. The Company operates through community banking business segment. The Bank also operates Lafayette Bank and Trust, and First Merchants Private Wealth Advisors (each as a division of First Merchants Bank). As of December 31, 2016, the Bank included 106 banking locations in 27 Indiana, two Illinois and two Ohio counties. In addition to its branch network, the Company's delivery channels include automated teller machines (ATMs), check cards, remote deposit capture, interactive voice response systems and Internet technology. Through the Bank, the Company offers a range of financial services, including accepting time deposits, savings and demand deposits; making consumer, commercial, agri-business and real estate mortgage loans; renting safe deposit facilities; providing personal and corporate trust services; providing full-service brokerage, and providing other corporate services, letters of credit and repurchase agreements.
Lending Activities
The Bank's loan portfolio consists of commercial and industrial loans; agricultural production financing and other loans to farmers; real estate loans, such as construction loans, commercial and farm land loans. The Bank generates loans from customers primarily in central and northwest Indiana, northeast Illinois and central Ohio. The Bank's loans are generally secured by specific items of collateral, including real property, consumer assets and business assets. As of December 31, 2016, the total loans amounted to $5.1 billion.
Investment Activities
The Bank's investment securities include available-for-sale securities, such as the United States Government-sponsored agency securities, state and municipal, the United States Government-sponsored mortgage-backed securities, corporate obligations and equity securities. The held-to-maturity securities include the United States Government-sponsored agency securities, state and municipal and the United States Government-sponsored mortgage-backed securities. As of December 31, 2016, the total investment securities amounted to $1.3 billion.
Sources of Funds
The Bank's sources of funds are deposits, such as negotiable order of withdrawal (NOW) accounts, money market deposit accounts, savings deposits, and certificates and other time deposits. The Bank's sources of funds also include federal funds purchased, securities sold under repurchase agreements, Federal Home Loan Bank advances, and subordinated debentures and term loans. As of December 31, 2016, the total deposits amounted to $5.6 billion.
200 E Jackson St
The company trades on NASDAQ exchange. The company headquarter is located in Indiana, IN. The company was established in the 1893.| Ticker | FRME |
| Long Name | First Merchants Corporation |
| Short Name | First Merchants |