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Mar 31, 2022
First Merchants Q1 2022 Earnings Report
Reported earnings per share for the first quarter of 2022.
Key Takeaways
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.
Net income was $48.6 million and diluted earnings per share totaled $0.91.
Total loans, excluding PPP loans, grew $165 million or 7.2% on a linked quarter basis.
Total deposits grew $173.4 million or 5.4% on a linked quarter basis.
Completed legal closing on the acquisition of Level One Bancorp, LLC on April 1, 2022.
First Merchants
First Merchants
Forward Guidance
The Bank’s loan, deposit and earnings growth were in line with expectations and colleagues are focused on delivering the aspirational 2022 plan.