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	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	822.37	837.91	779.79	495.59	360.12	379.75
Interest Income on Investments	99.62	110.09	114.1	109.41	86.51	68.76
Total Interest Income	921.99	948.01	893.89	605.01	446.63	448.51
Interest Paid on Deposits	345.44	386.13	306.09	62.94	23.32	51.74
Interest Paid on Borrowings	45.23	40.77	42.39	21.86	12.63	14.64
Total Interest Expense	390.67	426.89	348.49	84.8	35.95	66.38
Net Interest Income	531.32	521.11	545.4	520.2	410.68	382.13
Net Interest Income Growth (YoY)	2.81%	-4.45%	4.84%	26.67%	7.47%	7.14%
Trust Income	34.98	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	-11.6	-20.76	-6.93	1.19	5.67	11.9
Other Non-Interest Income	37.99	38.69	35.2	38.63	32.03	35.01
Total Non-Interest Income	136.57	125.58	105.6	107.94	109.32	109.93
Non-Interest Income Growth (YoY)	24.97%	18.92%	-2.17%	-1.26%	-0.55%	26.81%
Revenues Before Loan Losses	667.89	646.69	651	628.14	520	492.05
Provision for Loan Losses	18.3	35.7	3.5	16.76	-	58.67
Revenue	649.59	610.99	647.5	611.39	520	433.38
Revenue Growth (YoY)	9.53%	-5.64%	5.91%	17.57%	19.99%	-1.63%
Salaries and Employee Benefits	216.45	215.35	223.59	202.24	162.23	151.34
Occupancy Expenses	28.45	28.39	29.86	26.21	23.33	26.76
Federal Deposit Insurance	14.47	15.03	14.67	10.24	6.24	5.8
Amortization of Goodwill & Intangibles	6.3	7.27	8.74	8.28	5.75	5.99
Selling, General & Administrative	83.64	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	379.35	379.27	388.27	355.72	279.21	263.41
EBT Excluding Unusual Items	270.24	231.73	259.23	255.67	240.79	169.98
Pretax Income	270.24	231.73	259.23	255.67	240.79	169.98
Income Tax Expense	36.95	30.33	35.45	33.59	35.26	21.38
Net Income	233.29	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	231.41	199.53	221.91	220.68	205.53	148.6
Net Income Growth	29.94%	-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)	-1.59%	-1.61%	2.65%	7.35%	-0.44%	5.16%
EPS (Basic)	4.01	3.42	3.74	3.83	3.82	2.75
EPS (Diluted)	4.00	3.41	3.73	3.81	3.81	2.74
EPS Growth	32.99%	-8.58%	-2.10%	-	39.05%	-14.11%
Dividend Per Share	1.420	1.390	1.340	1.250	1.130	1.040
Dividend Growth	2.90%	3.73%	7.20%	10.62%	8.65%	4.00%
Effective Tax Rate	13.68%	13.09%	13.67%	13.14%	14.64%	12.57%

Updated Oct 22, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q