UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 15, 2003
FIRST MERCHANTS CORPORATION
(Exact name of registrant as specified in its charter)
INDIANA
(State or other jurisdiction of incorporation)
0-17071 35-1544218
(Commission File Number) (IRS Employer Identification No.)
200 East Jackson Street
P.O. Box 792
Muncie, Indiana 47305-2814
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (765) 747-1500
ITEM 5. Other Events and Regulation FD Disclosure.
On August 12, 2003, the Board of Directors of First Merchants
Corporation declared a five percent (5%) stock dividend on its shares of
outstanding common stock. The dividend is payable to shareholders of record on
August 29, 2003. The date of delivery of shares to be issued pursuant to the
stock dividend is September 12, 2002.
Fractional shares will not be issued in connection with the stock
dividend. In lieu of issuing fractional shares, the Company shall pay each
shareholder otherwise entitled to a fractional share an amount in cash equal to
the fraction of the average of the highest "bid" and the lowest "offered"
quotations for a share on the August 29, 2003 record date, as reported by the
National Association of Securities Dealers Automated Quotations System.
ITEM 7. Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) (99) Press Release dated August 15, 2003.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
By: /s/ Larry R. Helms
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Larry R. Helms, Senior Vice President
Dated: August 15, 2003
EXHIBIT INDEX
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Exhibit No.
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99 Description
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Press Release, dated August 15, 2003, issued by
First Merchants Corporation.
First Merchants Corporation
Exhibit No. 99
Press Release, dated August 15, 2003
N / E / W / S R / E / L / E / A / S / E
August 15, 2003
FOR IMMEDIATE RELEASE For more information, contact:
Mark K. Hardwick, Vice President/Chief Financial Officer, 765-751-1857
http://firstmerchants.com
SOURCE: First Merchants Corporation, Muncie, Indiana
FIRST MERCHANTS ANNOUNCES 21st CONSECUTIVE ANNUAL DIVIDEND INCREASE
First Merchants Corporation (NASDAQ - FRME) has announced that its Board of
Directors declared a 5% share dividend to its shareholders of record on August
29, 2003, payable on September 12, 2003. The Board also declared a $.23 per
share cash dividend to shareholders of record on September 5, 2003, payable on
September 19, 2003. The $.23 per share cash dividend is consistent with prior
quarters and affords to shareholders of record on August 29, 2003, an effective
5% increase by virtue of the stock dividend.
Michael L. Cox, President and Chief Executive Officer, commented "First
Merchants Corporation has consistently produced a return to its shareholders
through dividends and price appreciation that is attractive in today's capital
markets. We are pleased to continue our record of consecutive dividend increases
to the 21st year. Dividends have gained renewed appreciation in the investment
community, particularly given the recent tax cut on dividend distributions. As
investors appropriately look toward total return, your board believes consistent
and increasing dividend distributions are important to our valued shareholder
group. The ongoing cash dividend applied to these new shares now represents a
3.5 % yield and compares favorably with other available investments in today's
capital markets."
First Merchants Corporation is an East Central Indiana Financial Holding
Company. Its subsidiaries include First Merchants Bank, N.A., the Madison
Community Bank, First United Bank, Union County National Bank, The Randolph
County Bank, The First National Bank of Portland, Decatur Bank & Trust Company,
Frances Slocum Bank, Lafayette Bank & Trust Company, Commerce National Bank and
Merchants Trust Company. The Corporation also operates First Merchants Insurance
Services, a full-service property casualty, personal lines and healthcare
insurance agency, headquartered in Muncie, Indiana, and is a majority member of
Indiana Title Insurance Company LLC, a title insurance agency.
First Merchants Corporation's common stock is traded over-the-counter on the
NASDAQ National Market System under the symbol FRME and is rated A+ by Standard
& Poor's Corporation.
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