First Merchants Corporation drawdown: 20.9% below the all-time high (price)
First Merchants Corporation is 20.9% below its all-time high, set Mar 12, 2021 (as of market close, Oct 16, 2026), measured on price alone — dividends are not included, the convention headlines and crash histories use. The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown.
- Below all-time high
- −20.9%
- 79.1% of ATH
- All-time high
- $50.04
- Mar 12, 2021
- Time below the high
- 5.6 yrs
- since Mar 12, 2021
- Worst-ever drawdown
- −83.0%
- Dec 17, 2009
- Longest underwater
- 8.6 yrs
- between all-time highs
- Today's level first reached
- Feb 3, 2017
- 9.7 yrs ago
- Last time this deep
- Feb 1, 2021
- in a previous episode
% of all-time high since 1989: price#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater. Basis and range are in the URL, so a particular view is a link.
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Apr 18, 2008 | Dec 17, 2009 | −83.0% | 1.7 yrs | Nov 10, 2016 | 8.6 yrs |
| Aug 21, 2018 | Sep 23, 2020 | −55.9% | 2.1 yrs | Mar 12, 2021 | 2.6 yrs |
| Mar 12, 2021 | May 11, 2023 | −50.3% | 2.2 yrs | not yet | 5.6 yrs+ |
| Jun 29, 1998 | May 19, 2000 | −39.8% | 1.9 yrs | Jun 28, 2002 | 4.0 yrs |
| Dec 28, 2004 | Aug 3, 2007 | −36.7% | 2.6 yrs | Mar 20, 2008 | 3.2 yrs |
| Feb 21, 1990 | Oct 11, 1990 | −30.4% | 8 mo | Aug 28, 1991 | 1.5 yrs |
| Jul 1, 2002 | Nov 11, 2002 | −23.7% | 4 mo | Sep 16, 2003 | 15 mo |
| Sep 23, 2003 | May 7, 2004 | −17.4% | 7 mo | Dec 1, 2004 | 14 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1989: how far First Merchants Corporation stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: a single asset's history is one surviving sample, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is First Merchants Corporation from its all-time high?
- First Merchants Corporation is currently 20.9% below its all-time high, set Mar 12, 2021 (as of market close, Oct 16, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest First Merchants Corporation drawdown ever?
- The deepest decline on record in our data (since 1989) took First Merchants Corporation 83.0% below its prior high, bottoming Dec 17, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily data since -1 from FRME; no free deep history exists for First Merchants Corporation — for a 150-year drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year. Past performance does not predict future returns; not investment advice.