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Dec 31, 2020
First Merchants Q4 2020 Earnings Report
Reported a decrease in net income and earnings per share compared to the same period in 2019.
Key Takeaways
First Merchants Corporation reported a net income of $45.1 million for Q4 2020, a decrease from $47.8 million in Q4 2019. Earnings per share also decreased to $0.83 from $0.87 in the same period. Despite challenges, the company grew loans by 9.2 percent and deposits by 15.5 percent during the year.
Net income for Q4 2020 was $45.1 million, down from $47.8 million in Q4 2019.
Earnings per share for Q4 2020 were $0.83, compared to $0.87 in Q4 2019.
Total assets reached $14.1 billion by year-end, with loans totaling $9.2 billion.
The Corporation’s loan portfolio increased by $789 million, or 9.2 percent, during 2020.
First Merchants
First Merchants
Forward Guidance
Executive management expects 2021 to be a year of increasing momentum as the vaccine helps reopen lobbies and allows repopulation of offices while growing the customer base.