First Savings Bank, Jeffersonville, completed its merger with and into First Merchants Bank, Muncie, with a stock transaction effective Feb. 1.
First Savings operated several banking centers within southern Indiana. It also has two national lending programs, including a single-tenant net lease commercial real estate program and an SBA lending program, with offices located throughout the Midwest. Since its founding in 1937, the bank grew into one of the largest community banks in southern Indiana with total assets of $2.4 billion, total loans of $1.9 billion, and total deposits of $1.7 billion as of Dec. 31, 2025.
The combined company has assets of approximately $21.4 billion, remaining the second largest financial holding company headquartered in Indiana. Larry Myers, president & CEO of First Savings, joined the First Merchants board shortly after the merger was finalized. Full integration between the two organizations is expected to be completed in the second quarter.
