8-K 1 a8-ksaleoffirstmerchantsin.htm 8-K SALE OF FIRST MERCHANTS INSURANCE SERVICES 8-K Sale of First Merchants Insurance Services


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
DATE OF REPORT (Date of earliest event reported): June 12, 2015

 Commission File Number 0-17071

FIRST MERCHANTS CORPORATION
(Exact name of registrant as specified in its charter)


INDIANA
35-1544218
(State or other jurisdiction of incorporation)
(IRS Employer Identification No.)

200 East Jackson Street
P.O. Box 792
Muncie, IN 47305-2814
(Address of principal executive offices, including zip code)
 
(765) 747-1500
(Registrant's telephone number, including area code)
 
Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 











Item 7.01. Regulation FD Disclosure.

On June 12, 2015, First Merchants Corporation, an Indiana corporation (“First Merchants”) sold all of its stock in First Merchants Insurance Services, Inc., an Indiana corporation (the “Insurance Subsidiary”) to USI Insurance Services LLC, a Delaware limited liability company (“USI”). The purchase price was Eighteen Million Dollars ($18,000,000) (the “Purchase Price”), Sixteen Million ($16,000,000) of which was paid at closing with the balance paid through a two-year promissory note. The Purchase Price is subject to a customary working capital adjustment once closing working capital is confirmed. As part of the transaction, First Merchants or its affiliated entities may receive payments for the referral of customers to USI and First Merchants will refrain from conducting certain insurance activities for a period of five (5) years following closing.

On June 15, 2015, First Merchants and USI issued a joint press release announcing the transaction. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.


(d) Exhibits.


Exhibit No.
Description of Exhibit


99.1
Joint Press Release, dated June 15, 2015


    






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.
 
First Merchants Corporation
(Registrant)

By: /s/ Mark K. Hardwick
Mark K. Hardwick
Executive Vice President and Chief Financial Officer
(Principal Financial and Principal Accounting Officer)


Dated: June 15, 2015