First Merchants Corp
NASDAQ:FRME

  • LAST PRICE
    36.5000
  • TODAY'S CHANGE (%)
    -0.1500 (-0.4093%)
  • Bid / Lots
    36.3200/ 8
  • Ask / Lots
    36.8500/ 8
  • Open / Previous Close
    36.7000 / 36.6500
  • Day Range
    36.5000
    36.7000
  • 52 Week Range
    28.0800
    42.4450
  • Volume
    2,169

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  • Oct 28, 2024

  • Oct 24, 2024

      Show headlines and story abstract

    • 8:50AM ET on Thursday Oct 24, 2024 by MT Newswires
      Companies Mentioned: FRME
      08:50 AM EDT, 10/24/2024 (MT Newswires) -- First Merchants (FRME) reported Q3 adjusted earnings Thursday of $0.95 per share, down from $0.96 a year earlier. Analysts polled by Capital IQ expected $0.90. Revenue for the quarter ended Sept. 30, expres...

    • 8:02AM ET on Thursday Oct 24, 2024 by MT Newswires
      Companies Mentioned: FRME
      08:02 AM EDT, 10/24/2024 (MT Newswires) -- ...

    • 8:00AM ET on Thursday Oct 24, 2024 by Dow Jones
      Companies Mentioned: FRME

    • 8:00AM ET on Thursday Oct 24, 2024 by Dow Jones
      Companies Mentioned: FRME
      ---------- ------- ---------- ------- Total Interest-Bearing Liabilities 13,440,958 326,620 3.24 12,921,259 241,559 2.49 Noninterest-bearing deposits 2,375,120 2,850,557 Other liabilities 325,873 217,683 ---------- ---------- Total Liabilities 16,141,951 15,989,499 STOCKHOLDERS' EQUITY 2,232,419 2,126,005 ---------- -------- ---------- -------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $18,374,370 326,620 $18,115,504 241,559 ========== ------- ========== ------- Net Interest Income (FTE) $404,282 $433,427 ======= ======= Net Interest Spread (FTE) (4) 2.48% 2.83% Net Interest Margin (FTE): Interest Income (FTE) / Average Earning Assets 5.72% 5.32% Interest Expense / Average Earning Assets 2.56% 1.90% ----- ----- Net Interest Margin (FTE) (5) 3.16% 3.42% ===== ===== (1) Average balance of securities is computed based on the average of the historical amortized cost balances without the effects of the fair value adjustments. Annualized amounts are computed using a 30/360 day basis. (2) Tax-exempt securities and loans are presented on a fully taxable equivalent basis, using a marginal tax rate of 21 percent for 2024 and 2023. These totals equal $17,538 and $18,090 for the nine months ended September 30, 2024 and 2023, respectively. (3) Non accruing loans have been included in the average balances. (4) Net Interest Spread (FTE) is interest income expressed as a percentage of average earning assets minus interest expense expressed as a percentage of average interest-bearing liabilities. (5) Net Interest Margin (FTE) is interest income expressed as a percentage of average earning assets minus interest expense expressed as a percentage of average earning assets. ADJUSTED NET INCOME AND DILUTED EARNINGS PER COMMON SHARE - NON-GAAP (Dollars In Thousands, Except Per Share Amounts) Three Months Ended Nine Months Ended ------------------------------------------------------ September March December September September September 30, June 30, 31, 31, 30, 30, 30, 2024 2024 2024 2023 2023 2024 2023 Net Income Available to Common Stockholders - GAAP $ 48,719 $39,456 $47,472 $42,010 $ 55,898 $135,647 $179,901 Adjustments: PPP loan income -- -- -- (7) (8) -- (42) Net realized losses on sales of available for sale securities 9,114 49 2 2,317 1,650 9,165 4,613 Non-core expenses(1,2) -- -- 3,481 12,682 -- 3,481 -- Tax on adjustments (2,220) (12) (848) (3,652) (403) (3,081) (1,121) ------ ------ ------ ------ ------ ------- ------- Adjusted Net Income Available to Common Stockholders - Non-GAAP $ 55,613 $39,493 $50,107 $53,350 $ 57,137 $145,212 $183,351 ====== ====== ====== ====== ====== ======= ======= Average Diluted Common Shares Outstanding (in thousands) 58,289 58,328 59,273 59,556 59,503 58,629 59,465 Diluted Earnings Per Common Share - GAAP $ 0.84 $ 0.68 $ 0.80 $ 0.71 $ 0.94 $ 2.31 $ 3.03 Adjustments: PPP loan income -- -- -- -- -- -- -- Net realized losses on sales of available for sale securities 0.15 -- -- 0.04 0.03 0.16 0.07 Non-core expenses(1,2) -- -- 0.06 0.21 -- 0.06 -- Tax on adjustments (0.04) -- (0.01) (0.06) (0.01) (0.05) (0.02) ------ ------ ------ ------ ------ ------- ------- Adjusted Diluted Earnings Per Common Share - Non-GAAP $ 0.95 $ 0.68 $ 0.85 $ 0.90 $ 0.96 $ 2.48 $ 3.08 ====== ====== ====== ====== ====== ======= =======

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