First Merchants to Buy First Savings Financial in $241.3M Stock Swap

Dow Jones

Sep 25, 2025

By Colin Kellaher

First Merchants has agreed to buy fellow Indiana bank holding company First Savings Financial Group in a stock swap valued at about $241.3 million.

First Merchants, based in Muncie, on Thursday said it will issue 0.85 shares, worth $33.60 based on Wednesday's closing price of $39.53, for each share of First Savings.

The price represents a 21% premium to Wednesday's closing price of $27.68 for First Savings, which is based in Jeffersonville.

Trading in shares of First Savings was halted premarket on Thursday.

First Merchants said the deal, slated to close in the first quarter of 2026, will create a financial holding company with about $21 billion in assets.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 25, 2025 08:30 ET (12:30 GMT)

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