第一招商股份 2025年度报告

SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549___________________ ☒ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December31, 2025 OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-41342 A.Full title of the plan and the address of the plan, if different from that of the Issuer named below: First Merchants CorporationRetirement Income and Savings Plan B. Name of issuer of the securities held pursuant to the plan and the address of its principal office: First Merchants Corporation200 East Jackson StreetMuncie, Indiana 47305 EIN 35-1544218 PN 002 Independent Auditor's Report and Financial StatementsDecember31, 2025 and 2024 First Merchants CorporationRetirement Income and Savings PlanDecember31, 2025 and 2024 Table of Contents Financial StatementsStatements of Net Assets Available for Benefits3Statements of Changes in Net Assets Available for Benefits4Notes to Financial Statements5 Supplemental ScheduleSchedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December31,202515Exhibit Index16Signatures17 Report of Independent Registered Public Accounting Firm Plan Administrator, Plan Participants, Audit Committee andEmployee Benefits Administrative CommitteeFirst Merchants Corporation Retirement Income and Savings PlanMuncie, Indiana Opinion on the Financial Statements We have audited the accompanying statements of net assets available for benefits of First Merchants CorporationRetirement Income and Savings Plan (Plan) as of December 31, 2025 and 2024, the related statements of changes in netassets available for benefits for the years then ended, and the related notes (collectively referred to as the “financialstatements”). In our opinion, the financial statements referred to above present fairly, in all material respects, the netassets available for benefits of First Merchants Corporation Retirement Income and Savings Plan as of December 31,2025 and 2024, and the changes in net assets available for benefits for the years then ended in conformity withaccounting principles generally accepted in the United States of America. Basis of Opinion These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion onthese financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States)(“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities lawsand the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan andperformthe audits to obtain reasonable assurance about whether the financial statements are free of materialmisstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an auditof its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internalcontrol over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internalcontrol over financial reporting. Accordingly, we express no such opinion. Our audits included performing procedures to assess the risks of material misstatement of the financial statements,whether due to error or fraud, and performing procedures that respond to those risks. Such procedures includedexamining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits alsoincluded evaluating the accounting principles used and significant estimates made by management, as well as evaluatingthe overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. Plan Administrator, Plan Participants, Audit Committee andEmployee Benefits Administrative CommitteeFirst Merchants Corporation Retirement Income and Savings Plan Report on Supplemental Information The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2025 hasbeen subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. Thesupplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determiningwhether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records,as applicable, and performing procedures to test the completeness and accuracy of the information presented in thesupplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplementalschedule,including its form and content,are presented in conformity with the Department of Labor’s Rules andRegul