First Merchants prices $100M subordinated notes at 6.750% fixed-to-floating due 2036

FIRST MERCHANTS CORP

$100M aggregate principal of 6.750% Fixed-to-Floating Subordinated Notes due 2036 priced Sept 23, 2026.
Interest at 6.750% through Oct 1, 2031, then resets quarterly to 3-month Term SOFR + 202 bps.
Redeemable at par on Oct 1, 2031 and thereafter; maturity Oct 1, 2036.
Proceeds for general corporate purposes, including common share repurchases; Notes qualify as Tier 2 capital.
Piper Sandler sole book-runner; closing expected on or about Sept 25, 2026.

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