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Jun 30, 2020
First Merchants Q2 2020 Earnings Report
Reported net income of $33 million and earnings per share of $.62.
Key Takeaways
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.
Net income for the second quarter of 2020 was $33 million, compared to $41.1 million in 2019.
Earnings per share totaled $.62, down from $.83 in the second quarter of 2019.
Total assets reached $13.8 billion, with loans at $9.3 billion and deposits at $11 billion.
The loan portfolio increased by $1.8 billion, including $883 million in PPP loans, and deposits increased by $2.6 billion.
First Merchants
First Merchants
Forward Guidance
No specific forward guidance was provided in the earnings report.