First Merchants Corporation Common Stock, also called First Merchants, is a holding company, which engages in the provision of financial services. It operates through the following segments: Commercial, Commercial Real Estate, Consumer, Residential, and Finance Leases. Read More The Commercial lending segment is primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The Commercial Real Estate lending involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Consumer and Residential segments establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. The company was founded in September 1982 and is headquartered in Muncie, IN.