First Merchants Q3 2020 Earnings Report

Reported a net income of $36.2 million and EPS of $0.67.

Key Takeaways

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.

Net income for the third quarter 2020 was $36.2 million, compared to $36.8 million in the third quarter 2019.

Earnings per share totaled $0.67, compared to $0.71 in the third quarter of 2019.

Total assets equaled $13.7 billion, and loans totaled $9.2 billion as of September 30, 2020.

Net-interest income for the quarter totaled $92.9 million, up nearly $4 million from the third quarter of 2019.