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): August 13, 2002
______________________________
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 August 13, 2002, the Board of Directors of First Merchants
Corporation declared a five percent (5%) stock dividend on its shares of
outstanding common stock. The dividend is payable to shareholders of record on
August 30, 2002. The date of delivery of shares to be issued pursuant to the
stock dividend is September 13, 2002.
Fractional shares will not be issued in connection with the stock
dividend. In lieu of issuing fractional shares, the Company shall pay each
shareholder otherwise entitled to a fractional share an amount in cash equal to
the fraction of the average of the highest "bid" and the lowest "offered"
quotations for a share on the August 30, 2002 record date, as reported by the
National Association of Securities Dealers Automated Quotations System.
Item 6. Not Applicable.
Item 7. Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) (99) Press Release dated August 16, 2002.
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: August 16, 2002
FIRST MERCHANTS CORPORATION
/s/Larry R. Helms
---------------------------
Larry R. Helms,
Senior Vice President
EXHIBIT INDEX
(99) Press Release dated August 16, 2002.
N / E / W / S R / E / L / E / A / S / E
August 16, 2002
FOR IMMEDIATE RELEASE
For more information, contact:
Mark K. Hardwick , Senior Vice President /Chief Financial Officer,
765-751-1857
http://firstmerchants.com
SOURCE: First Merchants Corporation
FIRST MERCHANTS ANNOUNCES 20TH CONSECUTIVE ANNUAL DIVIDEND INCREASE
First Merchants Corporation (NASDAQ - FRME) has announced that its Board of
Directors declared a 5% share dividend to its shareholders of record on August
30, 2002, payable on September 13, 2002. The Board also declared a $.23 per
share cash dividend to shareholders of record on September 6, 2002, payable on
September 20, 2002. The $.23 per share cash dividend is consistent with prior
quarters and affords to shareholders of record on August 30, 2002, an effective
5% increase by virtue of the stock dividend. First Merchants Corporation has
raised its dividend every year for the past 20 years, and is preserving that
record through this share dividend.
Michael L. Cox, President and Chief Executive Officer, commented that "First
Merchants Corporation is pleased to provide our shareholders with a 5% stock
dividend for the second consecutive year. Twenty consecutive annual dividend
increases reflects the company's operating performance and it's mission of
providing consistent returns to its shareholders. Our annualized dividend of
$.92 per share currently represents a 3.6% yield at today's market price. This
yield is well above current Money Market rates and represents an attractive
payout to our shareholders."
First Merchants recently announced first half 2002 diluted earnings of $.94 per
share compared to $.88 in 2001, a 6.8% increase. Second quarter earnings were
stronger and represented a 10.9% increase compared to the prior year. The
Corporation is experiencing improved operating margins and has seen significant
growth in its lending portfolios throughout its nine-bank family of community
banks.
First Merchants Corporation is an East Central Indiana Financial Holding
Company. Its subsidiaries include First Merchants Bank in Delaware County 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, Frances Slocum Bank in Wabash and Lafayette Bank & Trust Company
in Tippecanoe County. The Corporation also operates First Merchants Insurance
Services, a full-service property casualty, personal lines and healthcare
insurer, headquartered in Muncie, Indiana, and is a majority member of Indiana
Title Insurance Company LLC, a title insurance agency.
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 Poor's Corporation. Quotations are carried in daily newspapers and can be
found on the company's Internet Web page. (http://firstmerchants.com). Nine
brokerage firms make a market in First Merchants Corporation stock: Robert W.
Baird & Co., Inc.; Herzog, Heine, Geduld, Inc.; Howe Barnes & Johnson, Inc.;
Keefe, Bruyette & Woods, Inc.; Knight Securities, L.P.; McDonald Investments,
Inc.; NatCity Investments, Inc.; Sherwood Securities Corp.; and Spear, Leads and
Kellog.
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