First Merchants CEO to Retire after 29 Years

By Hao Liu • Thursday, October 01 13:01 • Permanent Link

First Merchants Corporation said CEO Mark Hardwick will retire at the end of 2026 after 29 years with the bank, and President Mike Stewart will take over as president and CEO at the start of 2027.

Hardwick’s departure caps a period the company described as one of substantial expansion, including 18 acquisitions during his tenure. The bank said it now serves nearly 300,000 clients across 126 locations in three states and employs 2,200 people.

Stewart has been with First Merchants for more than 18 years and currently serves as president of First Merchants Bank. The company said he will step into the top role after leading the bank’s next phase of growth.

First Merchants reported approximately $21 billion in assets and said it operates in Indiana, Michigan and Ohio through First Merchants Bank and First Merchants Private Wealth Advisors. As a result of these announcements, the company's shares have moved -0.74% on the market, and are now trading at a price of $39.78. For the full picture, make sure to review FIRST MERCHANTS CORP's 8-K report.

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