Michael C. Rechin served as the CEO of First Merchants Corporation from January 1, 2016, until his retirement on January 1, 2021. He holds a Bachelor’s degree in Finance, which laid the foundation for his career focused on financial services....
Michael C. Rechin served as the CEO of First Merchants Corporation from January 1, 2016, until his retirement on January 1, 2021. He holds a Bachelor’s degree in Finance, which laid the foundation for his career focused on financial services. Under his leadership, First Merchants Corporation navigated various challenges and aimed for consistent growth. His compensation, reflecting a mix of salary and incentive-based pay, was significant during his tenure. For instance, in 2020, his total compensation reached over $1.39 million, driven largely by a bonus system tied to company performance. Interestingly, he was the sole initial participant in the Defined Contribution Supplemental Executive Retirement Plan, designed to provide additional retirement benefits. After stepping down, he continued to contribute to the company in a consulting role, advising on mergers and acquisitions and other strategic matters. His long experience in the finance sector and the company’s growth trajectory exemplify his impact on First Merchants Corporation.