First Merchants Corporation Elects Patrick Fehring to Its Board of Directors

Rhea-AI Summary

First Merchants Corporation (NASDAQ: FRME) has appointed Patrick J. Fehring to its Boards of Directors following the merger with Level One Bancorp in April. Fehring, who previously served as President and CEO of Level One Bank since its inception in 2007, brings 27 years of experience from Fifth Third Bancorp. Board Chairman Charles E. Schalliol and CEO Mark K. Hardwick expressed confidence in Fehring's expertise and commitment to community service, highlighting his potential to contribute positively to the company’s growth trajectory.

Positive

• Patrick J. Fehring's extensive financial services expertise enhances board strength.
• Fehring's community involvement may improve local relationships and customer service.

Negative

• Transitioning leadership may cause temporary disruptions during the adjustment period.

MUNCIE, Ind., May 11, 2022 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ: FRME), a $18 billion financial holding company, has elected Patrick J. Fehring to the Boards of Directors of First Merchants Corporation and First Merchants Bank. Fehring recently announced plans to transition from his day-to-day leadership role as President and Chief Executive Officer of Level One Bank and Level One Bancorp, Inc. He has served in this position since the founding of the bank in 2007. First Merchants Corporation and Level One Bancorp finalized a merger of the two companies in April.

“The First Merchants Board of Directors is proud to welcome Mr. Fehring,” said Board Chairman Charles E. Schalliol. “Patrick’s financial services expertise and commitment to southeastern Michigan communities will serve our shareholders and customers well as First Merchants continues to grow and expand.”

Mark K. Hardwick, Chief Executive Officer added, “Experienced bankers like Pat Fehring have always been an important voice in our board room. I'm thankful that Pat is willing to serve, and that Southeast Michigan will be well represented.”

Before the founding of Level One in 2007, Fehring spent 27 years with Fifth Third Bancorp and its affiliates, most recently as President of Fifth Third Bank, Eastern Michigan. Mr. Fehring received his Bachelor of Science in Business from Miami University in Ohio. Fehring is an active leader in the local community, where he is engaged with the Entrepreneurs Organization and serves as a Board Member of Ascension Health Michigan and as Board Chair of Catholic Foundation of Michigan.

“I am honored to accept this position and join such a distinguished group of professional leaders,” said Fehring. “The merger with First Merchants is a strong match of corporate cultures, values and commitment to exceptional customer service. This development only reaffirms that compatibility. First Merchants’ current trajectory of performance and growth presents enormous potential, and I look forward to contributing to continued momentum and success.”

About First Merchants Corporation:

First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors and Level One Bank (as divisions of First Merchants Bank).

First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. Quotations are carried in daily newspapers and can be found on the company’s Internet web page (http://www.firstmerchants.com).

FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

For more information, contact:
Nicole M. Weaver, Vice President and Director of Corporate Administration
765-521-7619
http://www.firstmerchants.com

FAQ

Who is Patrick J. Fehring?

Patrick J. Fehring is the newly appointed member of the Boards of Directors for First Merchants Corporation and First Merchants Bank, previously serving as CEO of Level One Bank.

What is the significance of Patrick Fehring's appointment?

Fehring's appointment is significant because of his extensive experience in the financial sector and his role in the recent merger with Level One Bancorp.

When did First Merchants Corporation merge with Level One Bancorp?

First Merchants Corporation finalized its merger with Level One Bancorp in April 2022.

How might Fehring's appointment affect First Merchants Corporation?

Fehring's appointment may positively impact First Merchants Corporation through his financial expertise and community connections, aiding in growth and customer relations.

What is FRME's stock symbol?

The stock symbol for First Merchants Corporation is FRME.