First Merchants Q4 2022 Earnings Report

Announced record fourth quarter and full year 2022 results.

Key Takeaways

First Merchants Corporation reported a strong fourth quarter, with net income available to common stockholders reaching $70.3 million and diluted earnings per common share totaling $1.19. Total loans grew by $344.1 million, and net interest income increased to $149.0 million. The company also successfully integrated Level One Bancorp Inc.

Net income available to common stockholders was $70.3 million, with diluted earnings per common share at $1.19.

Adjusted net income available to common stockholders for the fourth quarter was $70.5 million, and adjusted diluted earnings per common share totaled $1.19.

Total loans grew by $344.1 million, or 11.8% annualized, excluding PPP loan forgiveness.

Net interest income totaled $149.0 million, an increase of $8.7 million, or 6.2% on a linked quarter basis.

Tangible Common Equity Ratio

7.34%