First Merchants merges with Michigan bank

Muncie-based First Merchants Corp. (Nasdaq: FRME) has completed its merger with Level One Bancorp LLC in Michigan. First Merchants says the deal brings its total assets to $18 billion, maintaining its place as the second largest financial holding company based in Indiana.

Level One Bank will merge with and into First Merchants Bank. The integration is expected to be complete in the third quarter.

“Like First Merchants, Level One achieved a solid reputation for a deep-rooted commitment to community banking, and we are excited they have chosen to become the newest member of the First Merchants family,” First Merchants chief executive officer Mark Hardwick said in written remarks. “The LEVL franchise helps us to contiguously extend our presence in Michigan, leveraging the vision of First Merchants to enhance the financial wellness of the diverse communities we serve.”

Level One has 17 banking centers in Michigan, bringing First Merchants’ total number of banking centers to 126 in Indiana, Illinois, Michigan and Ohio.