First Merchants Earnings Reports

First Merchants posted steady growth in loans and deposits, supported by strong capital ratios and consistent profitability metrics. Net income remained flat quarter-over-quarter, while margins and credit quality were stable.

First Merchants Corporation reported a net income of $54.9 million and diluted EPS of $0.94 for Q1 2025. The company experienced a decrease in net interest income and noninterest income compared to the previous quarter, but maintained a robust capital position with a tangible common equity ratio of 8.90%.

First Merchants Corporation reported a strong fourth quarter in 2024, marked by significant increases in net income available to common stockholders and diluted earnings per share. The corporation completed the sale of five Illinois branches, contributing to non-interest income. Loan and deposit balances showed positive momentum, and key financial ratios reflected a strong capital position.

First Merchants Corporation reported a net income available to common stockholders of $48.7 million, with diluted earnings per common share of $0.84 for the third quarter of 2024. Excluding the loss from repositioning of available for sale securities portfolio, adjusted net income was $55.6 million, or $0.95 per share. Total assets reached $18.3 billion, and loans totaled $12.7 billion.

First Merchants Corporation reported a net income available to common stockholders of $39.5 million and diluted earnings per common share of $0.68 for the second quarter of 2024. The net interest margin improved to 3.16 percent, and total loans grew by $191.2 million. However, total deposits declined by $315.5 million, and the company experienced higher than normal net charge-offs.

First Merchants Corporation reported a net income available to common stockholders of $47.5 million and diluted earnings per common share of $0.80 for the first quarter of 2024. Excluding non-core charges, net income was $50.1 million and diluted earnings per share was $0.85. The company saw relative stabilization of its net interest margin during the quarter and maintained a strong capital position.

First Merchants Corporation reported a decrease in net income available to common stockholders to $42.0 million, with diluted earnings per common share of $0.71, compared to $70.3 million and $1.19, respectively, in Q4 2022. Excluding one-time charges, net income was $51.6 million and diluted earnings per share was $0.87. The company's balance sheet was strong, with improved liquidity and increased tangible common equity.

First Merchants Corporation reported a net income available to common stockholders of $55.9 million and diluted earnings per common share of $0.94 for the third quarter of 2023. Total assets equaled $18.0 billion and loans totaled $12.3 billion.

First Merchants Corporation reported a strong second quarter in 2023, with net income available to common stockholders at $60.4 million and diluted earnings per common share at $1.02. Adjusted net income was also $60.4 million, with adjusted diluted earnings per share at $1.02. The company saw loan growth and maintained a strong capital position.

First Merchants Corporation reported a strong first quarter in 2023, marked by growth in loans and deposits, alongside a solid capital position. Despite disruption in the banking industry, the company's balance sheet remained secure, reflecting improved liquidity and capital. Net income available to common stockholders totaled $63.6 million, with diluted earnings per common share at $1.07.

First Merchants Corporation reported a strong fourth quarter, with net income available to common stockholders reaching $70.3 million and diluted earnings per common share totaling $1.19. Total loans grew by $344.1 million, and net interest income increased to $149.0 million. The company also successfully integrated Level One Bancorp Inc.

First Merchants Corporation reported a strong third quarter in 2022, with net income available to common stockholders of $63.3 million and diluted earnings per common share of $1.08. The company completed the system integration for the acquisition of Level One Bancorp, Inc. during the quarter. Loan growth continued, and asset quality metrics remained at historical lows.

First Merchants Corporation reported second quarter net income available to common stockholders of $38.5 million, with diluted earnings per common share totaling $0.63. The results included acquisition costs of $29.3 million, which reduced diluted earnings per common share by $0.38. Total assets reached $17.8 billion, and loans totaled $11.4 billion.

First Merchants Corporation reported a net income of $48.6 million and diluted earnings per share of $0.91 for the first quarter of 2022. Total assets reached $15.5 billion, and loans totaled $9.4 billion. The corporation completed the legal closing on the acquisition of Level One Bancorp, LLC on April 1, 2022.

First Merchants Corporation reported a net income of $47.7 million for Q4 2021, an increase from $45.1 million in Q4 2020. Earnings per share also increased to $0.89 from $0.83 in the same period last year. The corporation's total assets reached $15.5 billion by year-end.

First Merchants Corporation reported a net income of $52.8 million for Q3 2021, a 45.7% increase compared to Q3 2020. Earnings per share totaled $0.98, up from $0.67 in the same period last year. The corporation experienced organic loan growth of $503.9 million over the last twelve months, which was offset by the forgiveness of PPP loans.

First Merchants Corporation reported a strong second quarter in 2021, with net income reaching $55.6 million, a significant increase from $33 million in the same period of 2020. Earnings per share rose to $1.03, compared to $0.62 in the second quarter of the previous year. The corporation experienced organic loan growth and an increase in net-interest income, reflecting healthy financial performance and effective management.

First Merchants Corporation reported a strong first quarter with net income of $49.5 million, an increase compared to $34.3 million during the same period in 2020. Earnings per share totaled $0.91, up from $0.62 in the first quarter of 2020. The corporation's loan portfolio increased by $711 million, or 8.3 percent, over the past twelve months. The first quarter results produced a return on assets of 1.39 percent, return on tangible common equity of 15.87 percent and efficiency ratio of 50.23 percent.

First Merchants Corporation reported a net income of $45.1 million for Q4 2020, a decrease from $47.8 million in Q4 2019. Earnings per share also decreased to $0.83 from $0.87 in the same period. Despite challenges, the company grew loans by 9.2 percent and deposits by 15.5 percent during the year.

First Merchants Corporation reported third quarter net income of $36.2 million, a slight decrease compared to $36.8 million in the same period of 2019. Earnings per share totaled $0.67, down from $0.71 in Q3 2019. Total assets reached $13.7 billion, and loans totaled $9.2 billion. The loan portfolio increased by $940 million, driven by Payroll Protection Program (PPP) loans. Net-interest income increased to $92.9 million, and non-interest income rose to $26.2 million.

First Merchants Corporation reported a net income of $33 million for Q2 2020, a decrease compared to $41.1 million in the same period of 2019. Earnings per share also decreased to $.62 from $.83 in Q2 2019. Total assets reached $13.8 billion, with loans totaling $9.3 billion and deposits at $11 billion. The corporation experienced loan growth of $1.8 billion, including $883 million from PPP loans, and deposit growth of $2.6 billion.

First Merchants Corporation reported a net income of $34.3 million for Q1 2020, a decrease from $38.8 million in Q1 2019. Earnings per share also decreased from $0.78 to $0.62. The corporation saw an increase in total assets and loans, driven by the acquisition of Monroe Bank & Trust, but profitability was negatively impacted by margin compression and provision for loan losses.

First Merchants Corporation reported a net income of $47.8 million for the fourth quarter of 2019, an increase from $41.7 million in the same period of 2018. Earnings per share rose to $0.87, compared to $0.85 in Q4 2018, which included one-time charges of $1.9 million related to the acquisition of Monroe Bank & Trust.