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Mar 31, 2023
First Merchants Q1 2023 Earnings Report
Reported earnings per share for the first quarter of 2023.
Key Takeaways
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.
Net income available to common stockholders was $63.6 million, with diluted earnings per common share totaling $1.07.
Adjusted net income available to common stockholders was $63.6 million, and adjusted diluted earnings per common share totaled $1.07.
The company had strong liquidity and capital with a Common Equity Tier 1 Capital Ratio of 10.82%.
Deposit growth reached $320.5 million, representing an 8.9% annualized increase on a linked quarter basis.
First Merchants
First Merchants
Forward Guidance
First Merchants Corporation remains focused on delivering its plan for the year, emphasizing the safety and soundness of the institution while meeting customer demands.
Positive Outlook
- Continued growth in loans and deposits.
- Strong liquidity position.
- Solid capital ratios.
- Enhanced liquidity position during the quarter.
- Team showing poise and confidence throughout the communities served.