First Savings Financial to merge with First Merchants in $241M all-stock deal

First Savings Financial Group, Inc.

FSFG shareholders receive 0.85 FRME shares per FSFG share; implied value $33.60/share based on FRME close of $39.53.
Transaction valued at ~$241.3M; expected to close Q1 2026 subject to regulatory and FSFG shareholder approval.
FRME anticipates ~11% EPS accretion in 2027 and tangible book value earnback of 3.0 years.
Combined company will have ~$21B assets and 127 branches across IN, MI, OH; Larry Myers to join FRME board.
Directors and officers holding ~1M shares entered voting agreement to support the merger.

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