First Merchants Bank is ready for its next chapter. President Mike Stewart will step in when CEO Mark Hardwick retires at the end of 2026.
Stewart, who has been with the bank for 18 years, will become president and CEO in 2027.
“We are extremely pleased to have a seasoned leader in Mike Stewart who has already proven ready to take First Merchants to the next level,” said Jean Wojtowicz, chair of the board of directors of First Merchants Corp. and First Merchants Bank, in a press release.
Hardwick led the bank through 18 acquisitions. The Muncie-based bank now has 300,000 clients, 126 locations and 2,200 employees.
“First Merchants is a company with a wonderful culture and endless opportunities,” Hardwick said. “We have boldly stepped into those opportunities with a courageous expectant attitude.”
Stewart, who lives in Indianapolis, said he will continue to build on Hardwick's legacy.
“We will continue our focus on organically growing in the communities we serve with renewed vigor,” Stewart said. “We have an excellent executive team, supported by locally based senior leaders across our footprint.
“Our strategy is to build on our Midwestern strength, growing through more and deeper relationships, smarter use of technology, and customer-centric products that expand our reach.”
The 133-year-old financial institution serves customers in Indiana, Illinois, Michigan and Ohi0. It has about $21 billion in assets. First Merchants Corp. is the parent company of First Merchants Bank and First Merchants Private Wealth Advisors.
