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First Merchants acquires Hoosier Trust Company to bolster wealth management

First Merchants acquires Hoosier Trust Company to bolster wealth management

First Merchants acquires Hoosier Trust Company

A First Merchants Bank branch in downtown Hammond are shown.

First Merchants Bank, the successor to Munster-based Citizens Financial Bank, has finalized its acquisition of Hoosier Trust Co., which manages about $300 million in assets.

Muncie-based First Merchants said the merger — which has cleared regulatory approvals — will increase its fiduciary and wealth management offerings. Terms of the deal were not disclosed.

“We are excited to formally welcome Hoosier Trust Company’s team and their clients to the First Merchants family,” First Merchants Private Wealth Advisors President Michael Joyce said. “The cultural fit between our two organizations was evident and only reinforced while working together to finalize this merger. We look forward to bringing immediate value through comprehensive solutions and support, while maintaining the personal service these clients covet.” 

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Indianapolis-based Hoosier Trust Co. was established in 2001. It offers trust and investment management services in conjunction with legal and tax advisers. 

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First Merchants Private Wealth Advisors  consists of more than 100 professionals like attorneys, accountants and financial planners. The wealth management service manages more than $4 billion in assets.

First Merchants Bank, which has locations across Northwest Indiana, has about $14.1 billion in assets. Publicly traded on the NASDAQ Global Select Market System under the symbol FRME, it operates 130 branches in Indiana, Michigan, Ohio and Illinois.


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Joseph S. Pete is a Lisagor Award-winning business reporter who covers steel, industry, unions, the ports, retail, banking and more. The Indiana University grad has been with The Times since 2013 and blogs about craft beer, culture and the military.

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