First Merchants Corporation (FRME)

First Merchants Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Interest Income	557.05	536.01	521.11	545.4	520.2	410.69
Net Interest Income Growth	6.24%	2.86%	-4.45%	4.84%	26.67%	7.47%
Non-Interest Income	102.72	126.93	125.58	105.6	107.94	109.32
Non-Interest Income Growth	-20.37%	1.08%	18.92%	-2.17%	-1.26%	-0.55%
Revenues Before Loan Losses	659.76	662.95	646.69	651	628.14	520.01
Provision for Credit Losses	21.95	21.25	35.7	3.5	16.76	-
Revenue	637.81	641.7	610.99	647.5	611.39	520.01
Revenue Growth (YoY)	3.64%	5.03%	-5.64%	5.91%	17.57%	19.99%
Compensation Expenses	239.54	225.08	221.17	228.75	206.89	167
Selling, General & Admin	97.11	93.68	91.18	88.12	81.13	68.02
Other Non-Interest Expenses	78.17	63.83	66.92	71.41	67.69	44.28
Total Non-Interest Expense	414.83	382.58	379.27	388.27	355.72	279.29
Pretax Income	222.99	259.11	231.73	259.23	255.67	240.72
Provision for Income Taxes	24.17	33.11	30.33	35.45	33.59	35.21
Net Income	196.94	224.13	199.53	221.91	220.68	205.51
Net Income Attributable to Preferred Dividends	1.88	1.88	1.88	1.88	1.41	-
Net Income to Common	196.94	224.13	199.53	221.91	220.68	205.51
Net Income Growth	-4.82%	12.33%	-10.09%	0.56%	7.38%	38.30%
Shares Outstanding (Basic)	58	57	58	59	58	54
Shares Outstanding (Diluted)	58	58	59	59	58	54
Shares Change (YoY)	0.24%	-1.38%	-1.61%	2.65%	7.35%	-0.44%
EPS (Basic)	3.41	3.90	3.42	3.74	3.83	3.82
EPS (Diluted)	3.40	3.88	3.41	3.73	3.81	3.81
EPS Growth	-4.49%	13.78%	-8.58%	-2.10%	-	39.05%
Shares Outstanding	62.51	56.95	57.97	59.42	59.56	53.92
Free Cash Flow	280.54	283.65	266.21	258.83	284.29	215.34
Free Cash Flow Growth	-1.10%	6.55%	2.85%	-8.95%	32.02%	5.65%
Free Cash Flow Per Share	4.80	4.91	4.55	4.35	4.91	3.99
Dividends Per Share	1.440	1.430	1.390	1.340	1.250	1.130
Dividend Growth	0.70%	2.88%	3.73%	7.20%	10.62%	8.65%
Profit Margin	31.17%	35.22%	32.96%	34.56%	36.33%	39.52%
FCF Margin	43.98%	44.20%	43.57%	39.97%	46.50%	41.41%
EBITDA	30.58	29.42	26.85	23.79	11.82	10.98
EBITDA Margin	4.79%	4.59%	4.39%	3.67%	1.93%	2.11%
Effective Tax Rate	10.84%	12.78%	13.09%	13.67%	13.14%	14.63%

Updated May 1, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q