First Merchants Corporation (FRME)

First Merchants Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	829.96	837.91	779.79	495.59	360.12	379.75
Interest Income on Investments	104.66	110.09	114.1	109.41	86.51	68.76
Total Interest Income	934.62	948.01	893.89	605.01	446.63	448.51
Interest Paid on Deposits	368.39	386.13	306.09	62.94	23.32	51.74
Interest Paid on Borrowings	41.91	40.77	42.39	21.86	12.63	14.64
Total Interest Expense	410.3	426.89	348.49	84.8	35.95	66.38
Net Interest Income	524.32	521.11	545.4	520.2	410.68	382.13
Net Interest Income Growth (YoY)	-0.76%	-4.45%	4.84%	26.67%	7.47%	7.14%
Trust Income	34.66	34.22	30.84	29.69	28.36	23.75
Gain (Loss) on Sale of Assets	19.98	19.98	-	-	-	-
Gain (Loss) on Sale of Investments	-20.76	-20.76	-6.93	1.19	5.67	11.9
Other Non-Interest Income	39.73	38.69	35.2	38.63	32.03	35.01
Total Non-Interest Income	128.99	125.58	105.6	107.94	109.32	109.93
Non-Interest Income Growth (YoY)	20.28%	18.92%	-2.17%	-1.26%	-0.55%	26.81%
Revenues Before Loan Losses	653.31	646.69	651	628.14	520	492.05
Provision for Loan Losses	37.9	35.7	3.5	16.76	-	58.67
Revenue	615.41	610.99	647.5	611.39	520	433.38
Revenue Growth (YoY)	-2.33%	-5.64%	5.91%	17.57%	19.99%	-1.63%
Salaries and Employee Benefits	212.04	215.35	223.59	202.24	162.23	151.34
Occupancy Expenses	28.29	28.39	29.86	26.21	23.33	26.76
Federal Deposit Insurance	13.29	15.03	14.67	10.24	6.24	5.8
Amortization of Goodwill & Intangibles	6.84	7.27	8.74	8.28	5.75	5.99
Selling, General & Administrative	82.48	83.2	79.59	81.22	61.37	55.19
Other Non-Interest Expense	29.06	27.96	28.5	26.71	19.3	18
Total Non-Interest Expense	374.13	379.27	388.27	355.72	279.21	263.41
EBT Excluding Unusual Items	241.28	231.73	259.23	255.67	240.79	169.98
Other Unusual Items	-1.1	-	-	-	-	-
Pretax Income	240.18	231.73	259.23	255.67	240.79	169.98
Income Tax Expense	31.38	30.33	35.45	33.59	35.26	21.38
Net Income	208.8	201.4	223.79	222.09	205.53	148.6
Preferred Dividends & Other Adjustments	1.88	1.88	1.88	1.41	-	-
Net Income to Common	206.93	199.53	221.91	220.68	205.53	148.6
Net Income Growth	0.56%	-10.00%	0.76%	8.06%	38.31%	-9.64%
Basic Shares Outstanding	58	58	59	58	54	54
Diluted Shares Outstanding	58	59	59	58	54	54
Shares Change (YoY)	-2.00%	-1.61%	2.65%	7.35%	-0.44%	5.16%
EPS (Basic)	3.57	3.42	3.74	3.83	3.82	2.75
EPS (Diluted)	3.55	3.41	3.73	3.81	3.81	2.74
EPS Growth	2.64%	-8.58%	-2.10%	-	39.05%	-14.11%
Dividend Per Share	1.400	1.390	1.340	1.250	1.130	1.040
Dividend Growth	2.94%	3.73%	7.20%	10.62%	8.65%	4.00%
Effective Tax Rate	13.06%	13.09%	13.67%	13.14%	14.64%	12.57%

Updated Apr 24, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q