First Merchants: Pay

First Merchants paid its 2 named executives $2.2M in total in FY2024 (Dec).

Pay$100 in the stock at the end of FY20 → $116
CEO pay is from each proxy. The stock line is the value of $100 put in the stock at the start, from the price change of each fiscal year. Dividends are not in it.

Pay of each named executive

Mark K. HardwickChief Executive Officer
FY2022 (Dec)
FY2021 (Dec)
2 years
Michael J. StewartPresident
FY2022 (Dec)
FY2021 (Dec)
2 years
Michele M. KawieckiExecutive Vice President and Chief Financial Officer
FY2024 (Dec)
FY2022 (Dec)
FY2021 (Dec)
3 years
Joseph C. PetersonExecutive Vice President and Chief Commercial Officer
FY2024 (Dec)
1 year
John J. MartinExecutive Vice President and Chief Credit Officer
FY2022 (Dec)
FY2021 (Dec)
2 years

CEO pay against the pay peers

In FY2025 (Dec), the median CEO pay of the 9 peers with pay on file was $4.4M. The CEO of First Merchants was paid $2.4M, 45% below the median.

  1. 1United Community Banks
  2. 2Ameris Bancorp
  3. 3Fulton Financial
  4. 4Atlantic Union Bankshares
  5. 5Simmons First National
  6. 6First Busey Corp /NV/
  7. 7FB Financial
  8. 8Glacier Bancorp
  9. 9Enterprise Financial Services
  10. 10First Merchants
  11. 11Customers BancorpNot disclosed
  12. 12First BancorpNot disclosed
  13. 13First Financial BancorpNot disclosed
  14. 14Lakeland FinancialNot disclosed
  15. 15Northwest BancsharesNot disclosed
  16. 16Old National BancorpNot disclosed
  17. 17Park National CorporationNot disclosed
  18. 18RenasantNot disclosed
  19. 19Trustmark CorporationNot disclosed
  20. 20WesbancoNot disclosed

Pay of each named executive comes from the Summary Compensation Table of each proxy statement. Realized pay adds the value of options used and stock that vested. CEO pay of each peer comes from its own Pay versus Performance table.