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Income Statement
Balance Sheet
Cash Flow Statement

Common Size IS
Op Efficiency
Credit Analysis

FIRST MERCHANTS CORP (FRME)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-K10-K10-K
        Interest income on investments  601.3445.4446.5459.8404.5302.6245.3215.6
    Total interest income  605.0446.6448.5465.4407.9314.9253.3221.2
    Interest expense:  
        Interest on deposits  62.923.351.791.651.523.815.914.9
        Interest on borrowings  11.45.77.07.27.85.23.32.8
       84.836.066.4108.769.137.626.824.8
Net interest income  520.2410.7382.1356.7338.9277.3226.5196.4
Provision for loan losses  16.8 58.72.87.29.15.70.4
Net interest income after provision for loan losses  503.4410.7323.5353.9331.6268.1220.8196.0
        Deposit and loan fees         16.2
        Gain on sale of investments, net         2.7
        Other non-interest income  107.9109.3109.986.776.571.065.251.0
Total non-interest income  107.9109.3109.986.776.571.065.269.9
Non-interest expenses  355.7279.2263.4246.8220.0205.6177.4174.8
Pre-tax income before non-recurring items  255.7240.8170.0193.8188.1133.6108.799.3
Non-recurring items         8.3
Pre-tax income  255.7240.8170.0193.8188.1133.6108.791.0
Income taxes  33.635.321.429.329.037.527.625.7
            Tax rate  13.1%14.6%12.6%15.1%15.4%28.1%25.4%28.2%
Net income  220.7205.5148.6164.5159.196.181.165.4
            Net margin  36.1%39.5%34.3%37.3%39.0%28.3%28.3%24.6%
   
Basic EPS  $3.83$3.82$2.75$3.20$3.23$2.13$1.99$1.73
Diluted EPS  $3.81$3.81$2.74$3.19$3.22$2.12$1.98$1.72
   
Shares outstanding (basic)  57.753.854.151.449.345.240.837.8
Shares outstanding (diluted)  58.054.054.251.649.545.441.038.1
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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