A message from CEO Mike Rechin
We are excited to announce that legal approvals to merge iAB Financial Bank into First Merchants Bank are now complete. Welcome to the First Merchants Bank family!
Later this year iAB Financial Bank will become First Merchants Bank, providing you with enhanced convenience, choice and expertise. You will soon benefit from larger lending limits, access to over 100 banking centers in 31 Indiana and two counties in both Illinois and Ohio, and a full range of treasury management and mobile banking tools.
We believe you will find First Merchants to be a natural extension of iAB Financial Bank; we’re already neighbors. Our companies share a commitment to responsive, personal service, long-term relationships, community involvement and Midwestern values.
Through this transition, we are committed to providing you with clear, open communication and supporting you with resources that best meet your needs. As details about the transition become available, you will receive information and communications via postal mail, website updates and email. We encourage you to visit the First Merchants website, www.firstmerchants.com frequently for the most up-to-date information.
Since 1893, First Merchants has been focused on supporting the dreams and growth of families, businesses and communities. We look forward to serving you, and welcome you to First Merchants!
Michael C. Rechin
President and CEO, First Merchants Corporation
iAB Financial Bank - Frequently Asked Questions
Who can I contact if I have questions about my deposit insurance?
If you have questions about your deposit insurance coverage, you may talk with any banker at iAB Financial Bank or call the FDIC directly at 1-877-ASK-FDIC.
Does First Merchants Bank operate under any other affiliate names?
First Merchants Bank also operates under the trade names of Lafayette Bank & Trust, First Merchants Private Wealth Advisors, and iAB Financial Bank.
Will my account number change?
A team of individuals from First Merchants Bank and iAB Financial Bank will be reviewing account numbers in the coming weeks. Customers can be assured that unless they are contacted directly by a member of the bank, their account number will remain the same and they can continue to access their account as they have in the past.
Do I need to update direct deposits and automatic payments to avoid disruption?
You do not need to make any changes to your direct deposits or automatic payments as they will continue without disruption.
Should I continue to make loan payments to iAB Financial Bank?
Please continue to make your same payments to iAB Financial Bank as you do today.
If I have deposit accounts at iAB Financial Bank and First Merchants Bank with combined totals more than the FDIC insurance limit of $250,000, what is the FDIC insurance impact?
If you have deposits at both banks, separate FDIC insurance coverage will apply for six months after the merger date to provide you with time to restructure your accounts if necessary. Please be advised that First Merchants Bank also operates under the trade names of: Lafayette Bank and Trust and First Merchants Private Wealth Advisors. If you have questions about your deposit insurance, please feel free to visit any iAB Financial Bank location or call the FDIC directly at 1-877-ASK-FDIC.
Should I continue to use my iAB Financial Bank checks, online banking, telephone banking, bill payment and Debit/ATM cards?
Yes! Through system conversion later this summer, your iAB Financial Bank checks, online banking, telephone banking, bill payment and Debit/ATM cards will continue to work as they do today.
Beginning July 17, 2017, you may use any First Merchants Bank ATM fee free! For a complete listing of First Merchants ATMs, click the locations button below and choose the ATM search drop down.
When can I begin to use First Merchants Bank locations, products and services?
We will be communicating exact dates in the coming months, however you can look forward to having access to over 100 First Merchants Banking Centers along with expanded product and service offerings later this summer.
How can I get the most current information about changes that may impact me?
Rest assured that as we identify changes that will impact your accounts and access, you will be contacted directly via postal mail and/or email. Our goal is to ensure that your banking relationship and experience remains as it is today. iAB Financial Bank and First Merchants Bank teams are committed to supporting your needs and making the process as seamless experience for you.