First Merchants Corporation (FRME)

First Merchants Income Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Interest Income on Loans	829.84	837.91	779.79	495.59	360.12
Interest Income on Investments	94.95	110.09	114.1	109.41	86.51
Total Interest Income	924.79	948.01	893.89	605.01	446.63
Interest Paid on Deposits	344.28	386.13	306.09	62.94	23.32
Interest Paid on Borrowings	44.5	40.77	42.39	21.86	12.63
Total Interest Expense	388.78	426.89	348.49	84.8	35.95
Net Interest Income	536.01	521.11	545.4	520.2	410.68
Net Interest Income Growth (YoY)	2.86%	-4.45%	4.84%	26.67%	7.47%
Trust Income	35.49	34.22	30.84	29.69	28.36
Gain (Loss) on Sale of Assets	-	19.98	-	-	-
Gain (Loss) on Sale of Investments	-0.01	-20.76	-6.93	1.19	5.67
Other Non-Interest Income	35.91	38.69	35.2	38.63	32.03
Total Non-Interest Income	126.93	125.58	105.6	107.94	109.32
Non-Interest Income Growth (YoY)	1.08%	18.92%	-2.17%	-1.26%	-0.55%
Revenues Before Loan Losses	662.95	646.69	651	628.14	520
Provision for Loan Losses	21.25	35.7	3.5	16.76	-
Revenue	641.7	610.99	647.5	611.39	520
Revenue Growth (YoY)	5.03%	-5.64%	5.91%	17.57%	19.99%
Salaries and Employee Benefits	225.08	215.35	223.59	202.24	162.23
Occupancy Expenses	28.4	28.39	29.86	26.21	23.33
Federal Deposit Insurance	14.11	15.03	14.67	10.24	6.24
Amortization of Goodwill & Intangibles	6.03	7.27	8.74	8.28	5.75
Selling, General & Administrative	79.77	83.2	79.59	81.22	61.37
Other Non-Interest Expense	28.37	27.96	28.5	26.71	19.3
Total Non-Interest Expense	383.28	379.27	388.27	355.72	279.21
EBT Excluding Unusual Items	258.41	231.73	259.23	255.67	240.79
Other Unusual Items	0.7	-	-	-	-
Pretax Income	259.11	231.73	259.23	255.67	240.79
Income Tax Expense	33.11	30.33	35.45	33.59	35.26
Net Income	226	201.4	223.79	222.09	205.53
Preferred Dividends & Other Adjustments	1.88	1.88	1.88	1.41	-
Net Income to Common	224.13	199.53	221.91	220.68	205.53
Net Income Growth	12.21%	-10.00%	0.76%	8.06%	38.31%
Basic Shares Outstanding	57	58	59	58	54
Diluted Shares Outstanding	58	59	59	58	54
Shares Change (YoY)	-1.38%	-1.61%	2.65%	7.35%	-0.44%
EPS (Basic)	3.90	3.42	3.74	3.83	3.82
EPS (Diluted)	3.88	3.41	3.73	3.81	3.81
EPS Growth	13.78%	-8.58%	-2.10%	-	39.05%
Dividend Per Share	1.430	1.390	1.340	1.250	1.130
Dividend Growth	2.88%	3.73%	7.20%	10.62%	8.65%
Effective Tax Rate	12.78%	13.09%	13.67%	13.14%	14.64%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q