Wednesday, August 26, 2026
Partnership with Indiana Bankers Association creates new pathway for students to earn, learn and build banking careers before graduation
MUNCIE, IN—August 25, 2026 -- First Merchants Bank (NASDAQ: FRME) is helping pioneer a first-of-its-kind workforce development initiative for Indiana's banking industry through the Indiana Career Apprenticeship Pathway (INCAP), becoming one of the first banks in the state to employ high school students in a structured, two-year Retail Banker apprenticeship program.
In partnership with the Indiana Bankers Association and the Financial Services Academy, First Merchants welcomes four student apprentices from area high schools beginning in the 2026-27 school year. Participating schools include Zionsville Community High School, Lawrence North High School, Lawrence Central High School and Plainfield High School. The students will gain hands-on banking experience while earning wages, receiving academic credit toward graduation and preparing for meaningful careers in financial services, graduating with two years of professional experience and a valuable head start when they enter the workforce.
Modeled after Switzerland's acclaimed apprenticeship system, INCAP represents a new approach to workforce development in Indiana. The program combines classroom learning with paid, on-the-job training, creating pathways into in-demand careers while helping employers develop future talent.
"At First Merchants, we believe developing future talent requires investing in students long before they enter the workforce full time," said Steve Harris, Chief Human Resources Officer. "This program gives students an extraordinary opportunity to gain professional experience, earn an income and explore a rewarding career in banking while still enjoying the full high school experience. At the same time, it helps strengthen the talent pipeline for our industry and our communities."
The Retail Banker apprenticeship begins during a student's junior year of high school. Apprentices spend three days each week receiving on-the-job training and working in customer-facing banking roles while continuing their academic coursework. During their senior year, students expand their experience by working four days per week, gaining exposure to areas including lending, credit, marketing, compliance and management.
Because apprenticeships occur during the school day, students can continue participating in athletics, clubs and other extracurricular activities after school. Hours worked count toward educational requirements, allowing students to earn both a paycheck and progress toward their diploma simultaneously.
Upon graduation, students receive the Indiana Employment Honors Plus Seal and earn an INCAP Retail Banking Certificate recognized by financial institutions across the state. Students may also qualify for college credit through Credit for Prior Learning programs, creating additional pathways for higher education.
Unlike many traditional high school work experiences, the INCAP model is designed to prepare students for career-track opportunities. By graduation, participating students will have accumulated two years of professional banking experience, positioning them for advanced opportunities within the industry.
"INCAP is setting the standard for the future of apprenticeship programs across the nation, and the Indiana banking industry is leading the way,” said Chris Fisher, President & CEO of Financial Services Academy. “The Retail Banking Apprenticeship creates a win-win opportunity for both banks and students by strengthening the future workforce while providing students with a meaningful head start on their careers. Banks gain the opportunity to develop highly skilled, long-term employees, and students can enter the banking profession years ahead of their peers with valuable real-world experience. The Financial Services Academy is proud to partner with First Merchants Bank to help build the next generation of banking leaders."
For the banking industry, the program offers an innovative solution to workforce needs by introducing students to careers in financial services earlier and building awareness of the diverse opportunities available within community banking. The apprenticeship framework was developed with banks to reflect real workforce needs while providing employers with a stronger pipeline of early-career talent.
“Our industry is only as strong as its next generation,” said Amber R. Van Til, President & CEO of the Indiana Bankers Association. “We are excited for this new opportunity to invest in the next generation of bankers even earlier, giving them hands-on training for a first-hand look at what the industry is really like.”
Indiana is the first state in the nation to implement the INCAP model, with banking among the inaugural industries participating alongside healthcare, construction, advanced manufacturing, information technology and life sciences. The first cohort of apprentices across participating industries is expected to begin in 2026.
For more information on First Merchants, visit https://www.firstmerchants.com/
For more information on INCAP, visit https://indianacap.org/
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About First Merchants Corporation:
With approximately $21.3 billion in assets,First Merchants Corporation (NASDAQ: FRME) is a registered bank holding company offering a full line of commercial and consumer banking services and wealth management services through First Merchants Bank and First Merchants Private Wealth Advisors in Indiana, Michigan, and Ohio. With more than 130 years of enhancing the financial wellness of the diverse communities it serves, First Merchants makes meaningful contributions through employee empowerment, philanthropy, charitable giving, financial wellness, and community home and business lending. The company has been honored for its attentive and knowledgeable service and culture by Forbes, Time Magazine, American Banker, and S&P Global Intelligence “Best Banks” awards. First Merchants attributes this recognition to a mission-driven team that is passionate about “helping you prosper” through attentiveness as its genuine and unique approach to customer service. To see how First Merchants is making a difference, go to http://www.firstmerchants.com.
About INCAP:
The Indiana Career Apprenticeship Pathway (INCAP) is a statewide initiative that combines classroom education with paid, employer-led apprenticeships in high-demand industries. INCAP provides students and adults with additional pathways to education, training and career advancement while helping employers build a skilled workforce for the future.
About the Indiana Bankers Association:
The Indiana Bankers Association supports Indiana banking through issues advocacy, professional education, and products and services that enhance financial institutions’ ability to help build better communities.
