FIRST MERCHANTS CORPFRMEEarnings & Financial Report
First Merchants Corporation is a financial holding company in Central Indiana, headquartered in Muncie, Indiana. The Corporation includes First Merchants Bank and First Merchants Private Wealth Advisors. The company is listed on the NASDAQ as FRME. As of March 2023, total asset size of First Merchants Corporation was $18.2 billion. First Merchants offers commercial banking, personal banking, and investment advisor services.
Revenue
$159.9M
Gross Profit
N/A
Operating Profit
$44.0M
Net Profit
$39.9M
Gross Margin
N/A
Operating Margin
27.5%
Net Margin
25.0%
YoY Growth
-2.6%
EPS
$0.68
FIRST MERCHANTS CORP Q2 FY2024 Financial Summary
FIRST MERCHANTS CORP reported revenue of $159.9M (down 2.6% YoY) for Q2 FY2024, with a net profit of $39.9M (down 34.4% YoY) (25.0% margin).
Key Financial Metrics
| Total Revenue | $159.9M |
|---|---|
| Net Profit | $39.9M |
| Gross Margin | N/A |
| Operating Margin | 27.5% |
| Report Period | Q2 FY2024 |
FIRST MERCHANTS CORP Annual Revenue by Year
FIRST MERCHANTS CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $662.9M).
| Year | Annual Revenue |
|---|---|
| 2025 | $662.9M |
| 2024 | $646.7M |
| 2023 | $545.4M |
| 2022 | $520.2M |
FIRST MERCHANTS CORP Quarterly Revenue & Net Profit History
FIRST MERCHANTS CORP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $157.1M | — | $28.2M | 17.9% |
| Q4 FY2025 | $172.2M | -2.8% | $57.1M | 33.1% |
| Q3 FY2025 | $166.1M | +6.5% | $56.8M | 34.2% |
| Q2 FY2025 | $164.3M | +2.8% | $56.8M | 34.6% |
| Q1 FY2025 | $160.3M | +4.3% | $55.3M | 34.5% |
| Q4 FY2024 | $177.1M | +13.2% | $64.3M | 36.3% |
| Q3 FY2024 | $156.0M | -3.3% | $49.2M | 31.5% |
| Q2 FY2024 | $159.9M | -2.6% | $39.9M | 25.0% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $159.9M | $156.0M | $177.1M | $160.3M | $164.3M | $166.1M | $172.2M | $157.1M |
| YoY Growth | -2.6% | -3.3% | 13.2% | 4.3% | 2.8% | 6.5% | -2.8% | N/A |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $18.30B | $18.35B | $18.31B | $18.44B | $18.59B | $18.81B | $19.03B | $21.07B |
| Liabilities | $16.09B | $16.05B | $16.01B | $16.11B | $16.24B | $16.40B | $16.56B | $18.40B |
| Equity | $2.21B | $2.30B | $2.30B | $2.33B | $2.35B | $2.41B | $2.47B | $2.67B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $63.0M | $76.8M | $266.2M | $61.7M | $53.7M | $87.6M | $283.6M |