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Jun 30, 2024
First Merchants Q2 2024 Earnings Report
Earnings per share announced for the second quarter of 2024.
Key Takeaways
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.
Net income available to common stockholders was $39.5 million, with diluted earnings per common share totaling $0.68.
Net interest margin increased to 3.16 percent.
Total loans grew by $191.2 million, or 6.1 percent annualized.
Total deposits decreased by $315.5 million, or 8.5 percent annualized.
First Merchants
First Merchants
Forward Guidance
No specific forward guidance was provided in the press release.