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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	826.1	837.91	779.79	495.59	360.12	379.75
Interest Income on Investments	101.88	110.09	114.1	109.41	86.51	68.76
Total Interest Income	927.98	948.01	893.89	605.01	446.63	448.51
Interest Paid on Deposits	353.48	386.13	306.09	62.94	23.32	51.74
Interest Paid on Borrowings	45.74	40.77	42.39	21.86	12.63	14.64
Total Interest Expense	399.21	426.89	348.49	84.8	35.95	66.38
Net Interest Income	528.76	521.11	545.4	520.2	410.68	382.13
Net Interest Income Growth (YoY)	1.87%	-4.45%	4.84%	26.67%	7.47%	7.14%
Trust Income	34.67	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	-20.71	-20.76	-6.93	1.19	5.67	11.9
Other Non-Interest Income	38.59	38.69	35.2	38.63	32.03	35.01
Total Non-Interest Income	128.96	125.58	105.6	107.94	109.32	109.93
Non-Interest Income Growth (YoY)	14.88%	18.92%	-2.17%	-1.26%	-0.55%	26.81%
Revenues Before Loan Losses	657.72	646.69	651	628.14	520	492.05
Provision for Loan Losses	19	35.7	3.5	16.76	-	58.67
Revenue	638.72	610.99	647.5	611.39	520	433.38
Revenue Growth (YoY)	6.22%	-5.64%	5.91%	17.57%	19.99%	-1.63%
Salaries and Employee Benefits	213.94	215.35	223.59	202.24	162.23	151.34
Occupancy Expenses	28.39	28.39	29.86	26.21	23.33	26.76
Federal Deposit Insurance	14.66	15.03	14.67	10.24	6.24	5.8
Amortization of Goodwill & Intangibles	6.57	7.27	8.74	8.28	5.75	5.99
Selling, General & Administrative	83.31	83.2	79.59	81.22	61.37	55.19
Other Non-Interest Expense	28.74	27.96	28.5	26.71	19.3	18
Total Non-Interest Expense	377.42	379.27	388.27	355.72	279.21	263.41
EBT Excluding Unusual Items	261.31	231.73	259.23	255.67	240.79	169.98
Pretax Income	261.31	231.73	259.23	255.67	240.79	169.98
Income Tax Expense	35.6	30.33	35.45	33.59	35.26	21.38
Net Income	225.71	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	223.83	199.53	221.91	220.68	205.53	148.6
Net Income Growth	20.89%	-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)	-1.74%	-1.61%	2.65%	7.35%	-0.44%	5.16%
EPS (Basic)	3.86	3.42	3.74	3.83	3.82	2.75
EPS (Diluted)	3.85	3.41	3.73	3.81	3.81	2.74
EPS Growth	23.41%	-8.58%	-2.10%	-	39.05%	-14.11%
Dividend Per Share	1.410	1.390	1.340	1.250	1.130	1.040
Dividend Growth	2.92%	3.73%	7.20%	10.62%	8.65%	4.00%
Effective Tax Rate	13.62%	13.09%	13.67%	13.14%	14.64%	12.57%

Updated May 1, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q