---
schema_version: "secwatch.filing_event.v1"
accession: "0000712534-24-000292"
form_type: "8-K"
ticker: "FRME"
cik: "0000712534"
company_name: "FIRST MERCHANTS CORP"
filed_at: "2024-08-27T23:59:59+00:00"
generated_at: "2026-05-31T07:31:49.798279+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Merchants sells 5 Illinois branches to Old Second for ~$304M in deposits; expects $23M gain

## Summary
- Old Second to pay 7.5% deposit premium (~$23M cash) to First Merchants for $304M deposits and $12M loans.
- Sale completes First Merchants' exit from suburban Chicago; gain of ~$23M expected from the transaction.
- Regulatory approvals pending; closing expected in Q4 2024; branches to be rebranded as Old Second.
- First Merchants plans to redeploy capital into balance sheet restructuring to drive shareholder value.

## SEC filing metadata
- accession: 0000712534-24-000292
- form_type: 8-K
- ticker: FRME
- cik: 0000712534
- company_name: FIRST MERCHANTS CORP
- filed_at: 2024-08-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/712534/000071253424000292/0000712534-24-000292-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/712534/000071253424000292/frme-20240826.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000712534-24-000292
- JSON: https://secwatch.observer/filing/0000712534-24-000292.json
- Plain text: https://secwatch.observer/filing/0000712534-24-000292.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.