FIRST MERCHANTS CORP
For the period ended Mar 31, 2026. Filed May 1, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 1, 2026
FRME$41.20-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Condensed Statements of Income
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| INTEREST INCOME | ||
| Loans receivable: | ||
| Taxable | $213,627 | $187,728 |
| Tax exempt | 11,589 | 10,532 |
| Investment securities: | ||
| Taxable | 7,547 | 8,372 |
| Tax exempt | 12,597 | 12,517 |
| Deposits with financial institutions | 1,244 | 2,372 |
| Federal Home Loan Bank stock | 1,965 | 997 |
| Total Interest Income | 248,569 | 222,518 |
| INTEREST EXPENSE | ||
| Deposits | 84,093 | 80,547 |
| Federal funds purchased | 590 | 812 |
| Securities sold under repurchase agreements | 332 | 742 |
| Federal Home Loan Bank advances | 11,048 | 9,364 |
| Subordinated debentures and other borrowings | 1,203 | 783 |
| Total Interest Expense | 97,266 | 92,248 |
| NET INTEREST INCOME | 151,303 | 130,270 |
| Provision for credit losses | 4,900 | 4,200 |
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 146,403 | 126,070 |
| NONINTEREST INCOME | ||
| Service charges on deposit accounts | 9,037 | 8,072 |
| Fiduciary and wealth management fees | 9,768 | 8,644 |
| Card payment fees | 5,275 | 4,526 |
| Net gains and fees on sales of loans | 6,511 | 5,022 |
| Derivative hedge fees | 564 | 404 |
| Other customer fees | 593 | 415 |
| Earnings on bank-owned life insurance | 3,446 | 2,179 |
| Net realized losses on sales of available for sale securities | — | (7) |
| Net loss on mortgage loans reclassified to held for sale | (29,755) | — |
| Other income | 390 | 793 |
| Total Noninterest Income | 5,829 | 30,048 |
| NONINTEREST EXPENSE | ||
| Salaries and employee benefits | 69,443 | 54,982 |
| Net occupancy | 8,301 | 7,216 |
| Equipment | 7,818 | 7,008 |
| Marketing | 1,601 | 1,353 |
| Outside data processing fees | 7,190 | 5,929 |
| Printing and office supplies | 377 | 347 |
| Intangible asset amortization | 2,302 | 1,526 |
| FDIC assessments | 3,893 | 3,648 |
| Other real estate owned and foreclosure expenses | 1,100 | 600 |
| Professional and other outside services | 14,593 | 3,261 |
| Other expenses | 8,527 | 7,032 |
| Total Noninterest Expense | 125,145 | 92,902 |
| Income Before Income Taxes | 27,087 | 63,216 |
| Income tax (benefit) expense | (1,069) | 7,877 |
| NET INCOME | 28,156 | 55,339 |
| Preferred stock dividends | 469 | 469 |
| NET INCOME AVAILABLE TO COMMON STOCKHOLDERS | $27,687 | $54,870 |
| Per Share Data: | ||
| Basic Net Income Available to Common Stockholders | $0.46 | $0.95 |
| Diluted Net Income Available to Common Stockholders | $0.45 | $0.94 |
| Cash Dividends Paid | $0.36 | $0.35 |
| Average Diluted Common Shares Outstanding (in thousands) | 61,008 | 58,242 |
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