First Merchants Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Interest Income	536.01	521.11	545.4	520.2	410.69
Net Interest Income Growth	2.86%	-4.45%	4.84%	26.67%	7.47%
Non-Interest Income	126.93	125.58	105.6	107.94	109.32
Non-Interest Income Growth	1.08%	18.92%	-2.17%	-1.26%	-0.55%
Revenues Before Loan Losses	662.95	646.69	651	628.14	520.01
Provision for Credit Losses	21.25	35.7	3.5	16.76	-
Revenue	641.7	610.99	647.5	611.39	520.01
Revenue Growth (YoY)	5.03%	-5.64%	5.91%	17.57%	19.99%
Compensation Expenses	225.08	221.17	228.75	206.89	167
Selling, General & Admin	93.68	91.18	88.12	81.13	68.02
Other Non-Interest Expenses	63.83	66.92	71.41	67.69	44.28
Total Non-Interest Expense	382.58	379.27	388.27	355.72	279.29
Pretax Income	259.11	231.73	259.23	255.67	240.72
Provision for Income Taxes	33.11	30.33	35.45	33.59	35.21
Net Income	224.13	199.53	221.91	220.68	205.51
Net Income Attributable to Preferred Dividends	1.88	1.88	1.88	1.41	-
Net Income to Common	224.13	199.53	221.91	220.68	205.51
Net Income Growth	12.33%	-10.09%	0.56%	7.38%	38.30%
Shares Outstanding (Basic)	57	58	59	58	54
Shares Outstanding (Diluted)	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%
Free Cash Flow	283.65	266.21	258.83	284.29	215.34
Free Cash Flow Growth	6.55%	2.85%	-8.95%	32.02%	5.65%
Free Cash Flow Per Share	4.91	4.55	4.35	4.91	3.99
Dividends Per Share	1.430	1.390	1.340	1.250	1.130
Dividend Growth	2.88%	3.73%	7.20%	10.62%	8.65%
Profit Margin	35.22%	32.96%	34.56%	36.33%	40.35%
FCF Margin	44.20%	43.57%	39.97%	46.50%	42.28%
EBITDA	29.42	26.85	23.79	11.82	10.98
EBITDA Margin	4.59%	4.39%	3.67%	1.93%	2.16%
Effective Tax Rate	12.78%	13.09%	13.67%	13.14%	14.63%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Banks template. Financial Sources.

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