FIRST MERCHANTS CORP (FRME)

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FIRST MERCHANTS CORP

FRME • CIK 0000712534

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest Income (Expense), Net	$545,400	$521,114	$536,013	$557,046
Provision for Loan, Lease, and Other Losses	$3,500	$35,700	$21,250	$21,950
Interest Income (Expense), after Provision for Loan Loss	$541,900	$485,414	$514,763	$535,096
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$259,232	$231,728	$259,114	$222,985
Income Tax Expense (Benefit)	$35,446	$30,326	$33,113	$24,167
Net Income (Loss) Attributable to Parent	$223,786	$201,402	$226,001	$198,818
Preferred Stock Dividends, Income Statement Impact	$1,875	$1,875	$1,875	$1,875
Net Income (Loss) Available to Common Stockholders, Basic	$221,911	$199,527	$224,126	$196,943
Interest Income, Deposits with Financial Institutions	$17,719	$16,992	$8,127	$6,999
Interest and Dividend Income, Operating	$893,886	$948,006	$924,792	$950,843
Interest Expense, Deposits	$306,092	$386,127	$344,279	$347,825
Interest Expense, Federal Funds Purchased	$1,421	$481	$2,219	$1,997
Interest Expense, Securities Sold under Agreements to Repurchase	$3,451	$3,057	$2,464	$2,054
Interest Expense, Federal Home Loan Bank and Federal Reserve Bank Advances, Long-term	—	$29,886	$35,763	$37,447
Interest Expense, Subordinated Notes and Debentures	—	$7,341	$4,054	$4,474
InterestExpenseOperating	—	$426,892	$388,779	$393,797
Gain (Loss) on Sales of Loans, Net	$15,659	$20,840	$21,275	$22,764
Bank Owned Life Insurance Income	$5,320	$5,655	$7,613	$8,880
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-6,930	$-20,757	$-8	$-1
Gain (Loss) on Disposition of Business	—	$19,983	$0	$0
Noninterest Income, Other Operating Income	$2,722	$6,283	$3,579	$3,176
Noninterest Income	$105,602	$125,580	$126,934	$102,715
Labor and Related Expense	$228,745	$221,167	$225,080	$239,541
Occupancy, Net	$29,859	$28,387	$28,401	$29,486
Equipment Expense	$24,113	$26,802	$28,614	$29,424
Marketing Expense	$7,427	$7,389	$7,794	$8,042
Information Technology and Data Processing	$25,165	$27,140	$27,488	$28,749
Noninterest Expense Printing and Fulfillment	$1,552	$1,462	$1,380	$1,410
Amortization of Intangible Assets	$8,743	$7,271	$6,028	$6,804
Federal Deposit Insurance Corporation Premium Expense	$14,674	$15,029	$13,410	$13,655
Professional and Contract Services Expense	$16,172	$14,586	$14,494	$25,826
Other Noninterest Expense	$28,502	$27,957	$28,369	$29,864
Noninterest Expense	$388,270	$379,266	$382,583	$414,826
Weighted Average Number of Shares Outstanding, Diluted	59,488,520	58,532,565	57,726,209	60,491,781
Interest Income, Securities, Operating, Taxable	$35,207	$36,086	$32,662	$31,837
Interest Income, Securities, Operating, Tax Exempt	$58,117	$53,487	$49,952	$50,032

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Liabilities and Equity	$18,405,887	$18,311,969	$19,025,101	$21,072,521
Cash and Due from Banks	$112,649	$87,616	$84,158	$98,083
Interest-bearing Deposits in Banks and Other Financial Institutions	$436,080	$298,891	$196,300	$175,354
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$1,627,112	$1,386,475	$1,407,102	$1,372,417
DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss	$2,184,252	$2,074,220	$1,971,539	$1,937,485
Financing Receivable, Held-for-Sale	$18,934	$18,663	$20,079	$401,839
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$12,486,027	$12,854,359	$13,791,707	$15,261,889
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$204,934	$192,757	$195,597	$212,520
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$12,281,093	$12,661,602	$13,596,110	$15,049,369
Property, Plant and Equipment, Net	$133,896	$129,743	$121,058	$146,013
Federal Home Loan Bank Stock	$41,769	$41,690	$47,245	$70,835
Interest Receivable	$97,664	$91,829	$93,374	$97,026
Goodwill	$712,002	$712,002	$712,002	$782,789
Intangible Assets, Net (Excluding Goodwill)	$27,099	$19,828	$13,800	$41,678
Cash Surrender Value of Life Insurance	$306,301	$304,906	$308,438	$371,238
Real Estate Acquired Through Foreclosure	$4,831	$4,948	$658	$1,264
Deferred Income Tax Assets, Net	$99,883	$92,387	$78,664	$116,814
Other Assets	$322,322	$387,169	$374,574	$410,317
Interest Payable	$18,912	$16,102	$18,235	$18,890
Other Liabilities	$289,033	$311,073	$245,410	$250,454
Liabilities	$16,158,174	$16,006,986	$16,558,434	$18,399,956
Common Stock, Value, Issued	$7,428	$7,247	$7,119	$7,813
Additional Paid in Capital	$1,236,506	$1,188,768	$1,150,816	$1,369,879
Retained Earnings (Accumulated Deficit)	$1,154,624	$1,272,528	$1,413,742	$1,418,609
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-175,970	$-188,685	$-130,135	$-148,861
Stockholders' Equity Attributable to Parent	$2,247,713	$2,304,983	$2,466,667	$2,672,565
Noninterest-bearing Deposit Liabilities	$2,500,062	$2,325,579	$2,137,262	$3,748,279
Interest-bearing Deposit Liabilities	$12,321,391	$12,196,047	$13,157,593	$12,737,338
Deposits	$14,821,453	$14,521,626	$15,294,855	$16,485,617
Federal Funds Purchased	$0	$99,226	$40,000	$170,000
Securities Sold under Agreements to Repurchase	$157,280	$142,876	$103,755	$89,458
Advances from Federal Home Loan Banks	$712,852	$822,554	$798,549	$1,299,192
Other Borrowings	$158,644	$93,529	$57,630	$86,345
Debt, Long-term and Short-term, Combined Amount	$1,028,776	$1,158,185	$999,934	$1,644,995
DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest	$245	$245	$245	$245
Debt Securities, Held-to-maturity, Fair Value	$1,870,374	$1,723,520	$1,718,287	$1,660,935
Common Stock, Shares Authorized	100,000,000	100,000,000	100,000,000	100,000,000
Common Stock, Shares, Issued	59,424,122	57,974,535	56,951,939	62,508,055
Off-Balance Sheet, Credit Loss, Liability	$19,500	$18,000	$18,000	$18,500
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)	$-3,800	$-1,500	$0	$500
Operating Lease, Right-of-Use Asset	$18,912	$21,085	$17,420	$17,420
Operating Lease, Liability	$22,335	$23,873	$19,123	$19,123
Defined Benefit Plan, Benefit Obligation	$55,761	$48,398	$47,305	$47,305
Defined Benefit Plan, Interest Cost	$2,876	$2,632	$2,538	$2,538
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	$-2,386	$2,678	$-1,762	$-1,762
Defined Benefit Plan, Funded (Unfunded) Status of Plan	$26,497	$31,137	$36,037	$36,037
Defined Benefit Plan, Benefit Obligation, Benefits Paid	$5,265	$7,317	$5,393	$5,393
Defined Benefit Plan, Plan Assets, Amount	$82,258	$79,535	$83,342	$83,342
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	$9,395	$4,006	$8,546	$8,546
Defined Benefit Plan, Plan Assets, Contributions by Employer	$594	$588	$654	$654
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions	$1,141	$505	$0	$0
Assets for Plan Benefits, Defined Benefit Plan	$29,262	$33,217	$37,712	$37,712
Liability, Defined Benefit Plan	$2,765	$2,081	$1,675	$1,675

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-9,945	$-25,033	$-3,458	$11,970
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$112,649	$87,616	$84,158	$96,128
Net Income (Loss) Attributable to Parent	$223,786	$201,402	$226,001	$198,818
Net Cash Provided by (Used in) Operating Activities	$258,833	$266,210	$283,646	$280,537
Proceeds from (Payments for) in Interest-bearing Deposits in Banks	$-310,019	$137,189	$102,591	$210,253
Proceeds from Sale of Debt Securities, Available-for-sale	$388,254	$247,747	$0	$251,341
Payments to Acquire Federal Home Loan Bank Stock	—	—	$5,644	$2,328
Proceeds from Sale of Federal Home Loan Bank Stock	—	—	$89	$129
Payments for Affordable Housing Programs	$11,685	$29,682	$48,012	$48,934
Payments for (Proceeds from) Loans Receivable	$621,786	$419,410	$965,558	$814,930
Proceeds from Sale of Other Real Estate	$1,748	$781	$7,331	$7,831
Proceeds from Life Insurance Policy	$10,357	$9,859	$4,081	$6,186
Payments for (Proceeds from) Other Investing Activities	$33,905	$13,668	$13,828	$15,412
Net Cash Provided by (Used in) Investing Activities	$-344,425	$-252,424	$-773,823	$-245,332
Proceeds from Issuance of Debt	$834,031	$639,117	$854,152	$678,385
Repayments of Debt	$1,119,200	$509,708	$1,012,403	$887,875
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	$1,875	$1,875	$1,875	$1,875
Payments of Ordinary Dividends, Common Stock	$80,061	$81,623	$82,912	$85,245
Proceeds from Stock Plans	$2,180	$2,261	$2,336	$2,348
Proceeds from Stock Options Exercised	$1,110	$900	$454	$793
Payments for Repurchase of Common Stock	$0	$56,168	$46,890	$63,900
Net Cash Provided by (Used in) Financing Activities	$75,647	$-38,819	$486,719	$-23,235
Interest Paid, Excluding Capitalized Interest, Operating Activities	$337,104	$429,702	$386,646	$388,211
Income Taxes Paid, Net	$34,838	$7,627	$20,746	$25,302
Real Estate Owned, Transfer to Real Estate Owned	—	$820	$3,055	$3,524
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$2,253	$7,102	$783	$11,836
Consideration Received for Beneficial Interest Obtained for Transferring Financial Asset	$44,200	$65,500	$25,000	$25,000
Gain (Loss) on Disposition of Business	—	$19,983	$0	$0
Provision for Loan, Lease, and Other Losses	$3,500	$35,700	$21,250	$21,950
Depreciation, Depletion and Amortization, Nonproduction	$11,711	$26,849	$29,423	$30,578
Deferred Income Tax Expense (Benefit)	$6,599	$1,624	$2,219	$6,849
Share-based Payment Arrangement, Noncash Expense	$5,158	$5,818	$7,333	$7,421
Payments for Origination and Purchases of Loans Held-for-sale	$793,125	$1,171,131	$501,203	$558,936
Proceeds from Sale of Loans Held-for-sale	$791,764	$1,183,481	$515,870	$584,092
Debt Securities, Available-for-sale, Realized Gain (Loss)	$-6,930	$-20,757	$-8	$-1
Life Insurance, Corporate or Bank Owned, Change in Value	$5,320	$5,655	$6,521	$7,093
Increase (Decrease) in Accrued Interest Receivable, Net	$12,594	$-5,835	$1,545	$-2,328
Increase (Decrease) in Interest Payable, Net	$11,382	$-2,810	$2,133	$-344
Other Noncash Income (Expense)	$-18,465	$789	$-5,853	$-1,356
Payments to Acquire Debt Securities, Available-for-sale	$32,852	$94,713	$19,734	$14,898
Payments to Acquire Held-to-maturity Securities	$5,653	$0	$0	$0
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$56,182	$51,424	$65,575	$65,797
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities	$104,865	$96,485	$99,286	$107,778
Increase (Decrease) in Savings Deposits	$-623,642	$203,261	$749,439	$380,650
Increase (Decrease) in Time Deposits	$1,062,350	$-235,640	$23,790	$-47,141

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Import this data to Google Sheets with:

=jivedata("FRME","financials")

Full statements spill as a table. For one cell: =jivedata("FRME","Revenue") or =jivedata("FRME","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.