UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
______________________________
DATE OF REPORT (Date of earliest event reported): April 18, 2001
______________________________
FIRST MERCHANTS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
_______________________________
INDIANA 0-17071 35-1544218
(State or other jurisdiction (Commission File No.) (IRS Employer Identification
of incorporation) No.)
200 East Jackson Street
P.O. Box 792
Muncie, IN 47305-2814
(Address of Principal Executive Offices, including Zip Code)
(765) 747-1500
(Registrant's Telephone Number, including Area Code)
Items 1-4. Not Applicable.
Item 5. Other Events and Regulation FD Disclosure.
On April 18, 2001, First Merchants Corporation repurchased 118,088
shares of its common stock at a price of $22.6501 per share for an aggregate
purchase price of $2,674,705. The shares repurchased represented approximately
1% of the total shares of the Company issued and outstanding.
The share repurchase was a privately negotiated transaction and was
not effected on the open market. The shares which were the subject of the
transaction had been pledged to the Company's subsidiary, First Merchants Bank,
National Association, as security for various loans. The repurchase transaction
was part of a restructuring and partial repayment of the subject loans and all
proceeds were applied to the principal and interest outstanding on the loans and
related expenses.
The purchase price of $22.6501 per share reflected the average of the
bid and ask prices of the Company's common stock for the ten trading days
preceding April 18, 2001. The share repurchase was not part of the Company's
plan to repurchase up to 250,000 shares on the open market as was announced on
February 20, 2001.
Item 6. Not Applicable.
Item 7. Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) (99) Press Release dated April 19, 2001.
Item 8. Not Applicable.
Item 9. Not Applicable.
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DATE: April 19, 2001.
FIRST MERCHANTS CORPORATION
/s/Larry R. Helms
---------------------------
Larry R. Helms,
Senior Vice President
EXHIBIT INDEX
(99) Press Release dated April 19, 2001.
N / E / W / S R / E / L / E / A / S / E
April 19, 2001
FOR IMMEDIATE RELEASE
For more information, contact:
James L. Thrash, Senior Vice President/Chief Financial Officer, 765-747-1390
http://firstmerchants.com
SOURCE: First Merchants Corporation
FIRST MERCHANTS REPORTS STOCK REPURCHASE
First Merchants Corporation (NASDAQ-FRME) has reported that on April 18, 2001,
it repurchased 118,088 shares of its common stock at a price of $22.6501 per
share for an aggregate purchase price of $2,674,705. The shares repurchased
represented approximately 1% of the total shares of the Company issued and
outstanding.
The share repurchase was a privately negotiated transaction and was not effected
on the open market. The shares which were the subject of the transaction had
been pledged to the Company's subsidiary, First Merchants Bank, National
Association, as security for various loans. The repurchase transaction was part
of a restructuring and partial repayment of the subject loans and all proceeds
were applied to the principal and interest outstanding on the loans and related
expenses.
The purchase price of $22.6501 per share reflected the average of the bid and
ask prices of the Company's common stock for the ten trading days preceding
April 18, 2001. The share repurchase was not part of the Company's plan to
repurchase up to 250,000 shares on the open market as was announced on February
20, 2001.
First Merchants Corporation is an east central Indiana financial holding
company. Its subsidiaries include First Merchants Bank in Delaware and Hamilton
Counties, the Madison Community Bank in Madison County, First United Bank in
Henry County, Union County National Bank, the Randolph County Bank, the First
National Bank of Portland in Jay County, Decatur Bank & Trust Company in Adams
County and First Merchants Insurance Services. The Corporation recently
announced plans to acquire Francor Financial, Inc., the parent company for
Frances Slocum Bank and Trust, headquartered in Wabash, Indiana.
First Merchants Corporation Common Stock is traded over-the-counter on the
NASDAQ National Market System under the symbol FRME and is rated A+ by Standard
and Poors Corporation. Nine brokerage firms make a market in First Merchants
Corporation stock: Herzog, Heine, Geduld, Inc.; Howe, Barnes Investments, Inc.;
Keefe, Bruyette & Woods, Inc.; Knight Securities, L.P.; McDonald Investments
Inc.; NatCity Investments, Inc.; Sherwood Securities Corp.; Spear, Leads, and
Kellog; and First Tennessee.
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