First Merchants announced Thursday that CEO Mark Hardwick will retire at the end of 2026. Mike Stewart, currently the bank's president and a more than 18-year veteran of the company, is set to become president and CEO at the start of 2027. Hardwick said it had been his great pleasure to serve as CEO of the 133-year-old financial institution, which has nearly 300,000 clients, 126 locations in 3 states, and 2,200 employees, and that he wants to dedicate more time to consultative, faith-based leadership. Shares were 0.10% lower at $39.74 during pre-market trading.
First Merchants CorporationCEO Mark Hardwick to retire end-2026 with Mike Stewart named successor; a planned leadership transition with no stated financial driver.
