First Merchants Bank announces leadership transition for Michigan region

Tom Myers named president; H. Douglas Chaffin joins company’s board of directors

MONROE, Mich. – First Merchants Corporation (NASDAQ - FRME) today announced H. Douglas Chaffin was elected to the First Merchants Board of Directors and Tom Myers as the new region president for the Michigan market. Myers will oversee all market operations and build upon the company’s significant momentum in the area. First Merchants and MBT Financial Corporation, which operated as Monroe Bank & Trust (MB&T), completed a merger of the two companies in September.

”This is the perfect time for a leadership transition in the market,” said Chaffin. “I’m extremely proud of what we’ve been able to accomplish as a company for the past 15 years, culminating with a successful merge into First Merchants. Tom is a highly capable leader, and I am confident he will guide this market with intelligence, diligence and compassion for our employees, clients and communities.”

With more than 35 years of banking experience, Myers most recently served as Executive Vice President, Chief Lending Manager and Sales Director for MB&T from 2003 until the recent merger. Before joining MB&T, he was the Corporate Banking Group Manager for Huntington Bank’s Michigan region. Myers began his banking career in Columbus, Ohio with National City Bank and has held a variety of positions largely focused on commercial banking.

“This is a tremendous professional opportunity, and I intend to maximize the full potential of First Merchants Bank in the Michigan market,” said Myers. “We have a dedicated team, established history and effective mix of proven financial solutions for clients. It is an honor to lead this group of talented professionals.”

Since graduating from The Ohio State University with a M.S. in Agricultural Economics, Myers has been actively involved with community organizations. He is presently Vice Chairman for the Port of Monroe and President of Trustees for St. Paul’s United Methodist Church in Monroe. Myers previously served for a number of years as a board member and officer for both United Way of Southeast Michigan and the Monroe County Chamber of Commerce.

Chaffin, recently announced his retirement after serving as president and CEO of Monroe Bank & Trust and MBT Financial Corp. since 2004. Chaffin was elected to the First Merchants Board of Directors yesterday and will continue advising the company for the foreseeable future.

“First Merchants is proud to be part of the inner core driving the Monroe and the southeastern Michigan economy,” said Michael C. Rechin, president and CEO of First Merchants. “Tom’s leadership and expertise will continue the momentum we’ve generated with a sustained commitment to local decision-making, personal service, long-term relationships and community involvement. I’d like to personally thank Doug for his many years of service and sound guidance and welcome him to the First Merchants board. His commitment to this company and community cannot be understated.”
First Merchants has assets of approximately $12.3 billion and is the second largest financial holding company headquartered in Indiana with 130 banking offices in Indiana, Michigan, Ohio and Illinois.