- First Merchants Corporation and First Savings Financial Group, Inc. have entered into a definitive **all-stock merger agreement** valued at approximately **$241.3 million**.  **[1435508_0001104659-25-093406_tm2526965d1_ex99-3.htm:1]** 
- Under the terms, First Savings shareholders will receive **0.85 shares of First Merchants common stock** for each share of First Savings common stock, implying a merger consideration of **$33.60 per share** based on First Merchants' closing price on September 24, 2025.  **[1435508_0001104659-25-093406_tm2526965d1_ex99-3.htm:1]** **[1435508_0001104659-25-093406_tm2526965d1_8k.htm:1]** **[1435508_0001104659-25-093406_tm2526965d1_ex99-2.htm:6]** 
- The transaction is expected to close in the **first quarter of 2026** and is anticipated to be approximately **11% accretive to First Merchants' earnings per share in 2027**, with a tangible book value earnback period of **3.0 years**.  **[1435508_0001104659-25-093406_tm2526965d1_ex99-3.htm:1]** **[1435508_0001104659-25-093406_tm2526965d1_ex99-2.htm:6]** 
- As of June 30, 2025, First Savings reported **total assets of $2.4 billion**, **total loans of $1.9 billion**, and **total deposits of $1.7 billion**.  **[1435508_0001104659-25-093406_tm2526965d1_ex99-3.htm:1]** 
- Larry W. Myers, President and CEO of First Savings, is expected to be appointed to First Merchants' Board of Directors in connection with the merger.  **[1435508_0001104659-25-093406_tm2526965d1_ex99-3.htm:1]** **[1435508_0001104659-25-093406_tm2526965d1_ex99-2.htm:6]**

First Savings Financial Group (FSFG)