First Merchants investment services division now is a little larger.
The company said its acquisition of Indianapolis-based Hoosier Trust Co., which was announced in late 2020, now is finalized. The merger provides enhanced solutions available to current Hoosier Trust clients and solidifies First Merchants as a provider of fiduciary and wealth management services in central Indiana, First Merchants said in a statement.
Hoosier Trust, which launched in 2001, employed fewer than 10 people. Most of the firm’s employees are expected to join First Merchants.
“We are excited to formally welcome Hoosier Trust Co.’s team and their clients to the First Merchants family,” said Michael Joyce, president of First Merchants Private Wealth Advisors. “The cultural fit between our two organizations was evident and only reinforced while working together to finalize this merger.”
First Merchants Private Wealth Advisors consists of more than 100 professionals, managing more than $4 billion in assets.
Muncie-based First Merchants has assets of approximately $14.1 billion and operates 130 banking offices in Indiana, Michigan, Ohio, and Illinois. It has 18 locations in Northwest Indiana and Northeast Illinois.
