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Financial Advisor

First Merchants Corporation

$323.5 Million 11/04/2021 Depository Complete
Lead Banker: Jim Hemmer
Public Companies
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Transaction Details

  • On November 4, 2021, First Merchants Corporation (“First Merchants”) and Level One Bancorp, Inc., (“Level One”) announced they have executed a definitive merger agreement by which Level One will merge with and into First Merchants
  • Level One is headquartered in Farmington Hills, Michigan and operates 16 banking center locations in the southeastern Michigan area
  • Under the terms of the merger agreement, shareholders of Level One will have the right to receive 0.7167 shares of First Merchants common stock, in a tax-free exchange, and $10.17 in cash for each share of Level One common stock owned, currently an approximate 75% stock and 25% cash mix
  • The transaction is expected to be completed in the first half of 2022

About the company

First Merchants Corporation
First Merchants Corporation is the largest financial services holding company located in Central Indiana. We provide our customers with broad financial services delivered locally by bankers who are known and trusted in their communities.

Level One Bancorp, Inc.
Level One Bank was created in 2007 by a team of local business leaders and passionate bankers who believed in a better way to bank. They recognized the need for a bank that could provide the sophisticated products of a large institution with the local knowledge and customer service of a community bank.

Sources: Company Documents, S&P Global Market Intelligence, FactSet and publicly available information
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