Firm Client First Merchants Corp Signs Merger Agreement with Ameriana Bancorp
First Merchants Corp and Ameriana Bancorp recently announced that they have executed a definitive agreement whereby Ameriana Bancorp will merge with and into First Merchants Corporation, and its wholly owned bank subsidiary, Ameriana Bank, will merge with and into First Merchants Bank, NA.
Based upon current financials, First Merchants and Ameriana Bancorp will have combined assets of $6.4 billion and will remain the second largest financial holding company headquartered in Indiana. The combined company will have 126 banking offices in twenty-seven Indiana counties, as well as two counties in both Ohio and Illinois.
“Like First Merchants, Ameriana Bank has a deep-rooted commitment to community banking and we are excited to welcome Ameriana to the First Merchants family,” said Michael C. Rechin, President and Chief Executive Officer of First Merchants. “The addition of Ameriana Bank supports our goal of becoming a more efficient, higher performing company.”
The partnership will add new neighboring communities of Greenfield, New Palestine, New Castle, Knightstown and Morristown. The merger will also add five locations to First Merchants thirteen banking centers in Hamilton County, the fastest growing Indiana market.
BGD partners Jeremy Hill and David R. Prechtel assisted with the transaction. Hill focuses his practice in the area of financial institutions and emerging businesses. Prechtel focuses his practice in the area of business transactions with an emphasis on financial institutions, mergers and acquisitions, health care and securities.