FSFG stock converts into First Merchants shares after completed merger

FSFG stock has been converted into shares of First Merchants following a completed stock merger, leaving former First Savings Financial Group investors holding FRME instead of the original FSFG listing.

First Savings Financial Group, Inc. (FSFG, ISIN US32123X1090) has completed a stock merger that converts FSFG stock into shares of First Merchants Corporation, changing the trading profile for former FSFG investors as of August 29, 2026.

According to a corporate actions overview covering recent corporate events, shareholders of First Savings Financial Group receive 0.8500 new shares of First Merchants Corporation (ticker FRME) for each old share of FSFG previously held, with fractional shares retained in investor accounts.

FSFG shares exchanged into FRME stock

The corporate actions tracker, updated on August 29, 2026, states that FSFG performed a stock merger in which each FSFG share was exchanged for 0.8500 shares of FRME, effectively turning FSFG stock into exposure to First Merchants at that fixed conversion ratio.

This means an investor who previously held 100 FSFG shares now holds 85 FRME shares, with the remaining fractional interest kept rather than paid out in cash, providing a clear, quantified path from the old FSFG position into the new combined bank entity.

Post-merger valuation context via FRME

While FSFG stock no longer trades independently after the merger, the value of former FSFG holdings can be gauged using the current First Merchants share price and the 0.8500 exchange ratio.

A recent FRME quote page showing trading data lists a latest closing price of $41.93 for First Merchants as of August 28, 2026, at 4:00 p.m. ET, implying that each exchanged FSFG share now represents $35.64 in market value based on that close ($41.93 multiplied by the 0.8500 share ratio).

For investors, this creates a direct, numerical comparison between the pre-merger FSFG position and the post-merger FRME holding, allowing them to track performance, dividends, and banking exposure through First Merchants shares rather than the former standalone FSFG listing.

Representative community banking product

First Savings Financial Group historically operated as a community-oriented banking institution, offering retail deposit accounts, consumer lending, and mortgage products tailored to local customers in its core markets.

One representative product from this business model is a standard residential mortgage loan, in which the bank originates fixed-rate and adjustable-rate mortgages for homebuyers, underwrites credit risk, and services the loans over time to generate interest income and fee revenue.

FSFG stock now represented by FRME position

With FSFG stock merged into First Merchants, former First Savings Financial Group shareholders now follow FRME as the primary listed vehicle for their investment, and the exchange ratio of 0.8500 FRME shares per FSFG share defines the ongoing value of that position as of the latest available closing price on August 28, 2026.

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More on FSFG stock and its merger into First Merchants

Investor Relations

Further corporate details, financial reports, and regulatory filings for the combined entity can be accessed through established investor relations channels that provide updated information on capital ratios, earnings, and strategic initiatives.

Fact box

Company: First Savings Financial Group, Inc.

ISIN: US32123X1090

Ticker: FSFG (pre-merger, now exchanged into FRME)

Exchange: Nasdaq (pre-merger listing, with holdings now represented through FRME on its primary exchange)

Price (as of August 28, 2026, 4:00 p.m. ET): FSFG holdings reflected by FRME at $41.93 per share via the 0.8500 exchange ratio

Sector / Industry: Financials / Regional banks

Index membership: Regional banking benchmarks via First Merchants exposure