• First Merchants priced USD 100 million of 6.750% Fixed-to-Floating Rate Subordinated Notes due 2036 in a registered public offering.
• Coupon set at 6.750% through Sept. 30, 2031; resets quarterly from Oct. 1, 2031 to Three-Month Term SOFR + 202 basis points.
• Issuer call option begins Oct. 1, 2031 at par plus accrued interest; maturity set for Oct. 1, 2036.
• Closing expected around Sept. 25, 2026; proceeds earmarked for general corporate purposes, including common share repurchases.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. First Merchants Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202609231749PRIMZONEFULLFEED9832907) on September 23, 2026, and is solely responsible for the information contained therein.