FRME
$39.60+0.30%
First Merchants CorporationStock · FinancialsRussell 2000 0.09%Nasdaq Composite 0.008%US Stock Market 0.004%Russell 3000 0.003%
FRME financial statements
The full income statement, balance sheet, and cash-flow statement for First Merchants Corporation (FRME), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 58.5M2024-09 58.7M2024-12 58.5M2025-03 58.3M2025-06 57.7M2025-09 57.8M2025-12 63.4M2026-03 63.0M2026-06 62.2M+6.3% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 663M+2.5% | 647M-0.7% | 651M+3.6% | 628M+20.8% | 520M+5.7% | ||
| Noninterest income | 127M+1.1% | 126M+18.9% | 106M-2.2% | 108M-1.3% | 109M-0.5% | |
| Selling & marketing | 7.79M+5.5% | 7.39M-0.5% | 7.43M-3.6% | 7.71M+33.8% | 5.76M-12.8% | |
| Amortization of intangibles | 6.03M-17.1% | 7.27M-16.8% | 8.74M+5.7% | 8.28M+44.0% | 5.75M-4.0% | |
| Noninterest expense | 383M+0.9% | 379M-2.3% | 388M+9.2% | 356M+27.4% | 279M+6.0% | |
| Provision for credit losses | 21.3M-40.5% | 35.7M+920.0% | 3.50M-79.1% | 16.8M | 0.00-100.0% | |
| Interest expense | — | — | 348M+310.9% | 84.8M+135.9% | 36.0M-45.8% | |
| Interest & investment income | 925M-2.4% | 948M+6.1% | 894M+47.7% | 605M+35.5% | 447M-0.4% | |
| Net interest income | 536M+2.9% | 521M-4.5% | 545M+4.8% | 520M+26.7% | 411M+7.5% | |
| Pre-tax income | 259M+11.8% | 232M-10.6% | 259M+1.4% | 256M+6.2% | 241M+41.7% | |
| Income tax | 33.1M+9.2% | 30.3M-14.4% | 35.4M+5.5% | 33.6M-4.7% | 35.3M+65.0% | |
| 226M+12.2% | 201M-10.0% | 224M+0.8% | 222M+8.1% | 206M+38.3% | ||
| Net income to common | 224M+12.3% | 200M-10.1% | 222M+0.6% | 221M+7.4% | 206M+38.3% | |
| $3.88+13.8% | $3.41-8.6% | $3.73-2.1% | $3.81+0.0% | $3.81+39.1% | ||
| EPS (basic) | $3.90+14.0% | $3.42-8.6% | $3.74-2.3% | $3.83+0.3% | $3.82+38.9% | |
| Weighted-avg shares (basic) | 57.5M-1.5% | 58.3M-1.7% | 59.3M+2.8% | 57.7M+7.3% | 53.8M-0.5% | |
| Weighted-avg shares (diluted) | 57.7M-1.4% | 58.5M-1.6% | 59.5M+2.7% | 58.0M+7.3% | 54.0M-0.4% | |
| Dividends per share | $1.43+2.9% | $1.39+3.7% | $1.34+7.2% | $1.25+10.6% | $1.13+8.7% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 84.2M-3.9% | 87.6M-22.2% | 113M-8.1% | 123M-26.7% | 167M-13.3% | |
| 19.0B+3.9% | 18.3B-0.5% | 18.4B+2.2% | 18.0B+16.5% | 15.5B+9.9% | ||
| Property, plant & equipment | 121M-6.7% | 130M-3.1% | 134M+14.3% | 117M+10.8% | 106M-4.9% | |
| Operating lease right-of-use | 17.4M-17.4% | 21.1M+11.5% | 18.9M-19.9% | 23.6M+32.6% | 17.8M-2.4% | |
| Goodwill | 712M+0.0% | 712M+0.0% | 712M+0.0% | 712M+30.6% | 545M+0.3% | |
| Intangible assets | 13.8M-30.4% | 19.8M-26.8% | 27.1M-24.4% | 35.8M+40.7% | 25.5M-12.1% | |
| Deferred tax assets | 78.7M-14.9% | 92.4M-7.5% | 99.9M-10.2% | 111M+212.1% | 35.6M+188.8% | |
| 16.6B+3.4% | 16.0B-0.9% | 16.2B+1.2% | 16.0B+17.9% | 13.5B+11.1% | ||
| Operating lease liability (total) | 19.1M-19.9% | 23.9M+6.9% | 22.3M-11.8% | 25.3M+29.0% | 19.6M-2.2% | |
| 2.47B+7.0% | 2.30B+2.5% | 2.25B+10.5% | 2.03B+6.4% | 1.91B+2.0% | ||
| Preferred stock | — | — | — | — | 125K+0.0% | |
| Common stock | 7.12M-1.8% | 7.25M-2.4% | 7.43M+0.4% | 7.40M+10.8% | 6.68M-0.9% | |
| Additional paid-in capital | 1.15B-3.2% | 1.19B-3.9% | 1.24B+0.6% | 1.23B+24.6% | 986M-1.9% | |
| Retained earnings | 1.41B+11.1% | 1.27B+10.2% | 1.15B+14.0% | 1.01B+17.1% | 865M+9.7% | |
| Accumulated other comprehensive income | -130M+31.0% | -189M-7.2% | -176M+26.4% | -239M-533.9% | 55.1M-26.4% | |
| Total liabilities & equity | 19.0B+3.9% | 18.3B-0.5% | 18.4B+2.2% | 18.0B+16.5% | 15.5B+9.9% | |
| Common shares issued | 57.0M-1.8% | 58.0M-2.4% | 59.4M+0.4% | 59.2M+10.8% | 53.4M-0.9% | |
| Common shares outstanding | 57.0M-1.8% | 58.0M-2.4% | 59.4M+0.4% | 59.2M+10.8% | 53.4M-0.9% | |
| Shares outstanding (cover) | 63.4M+8.3% | 58.5M-1.4% | 59.3M-0.5% | 59.6M+10.8% | 53.8M-1.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 284M+6.5% | 266M+2.9% | 259M-9.0% | 284M+32.0% | 215M+5.6% | ||
| Depreciation & amortization | 29.4M+9.6% | 26.8M+129.3% | 11.7M-0.9% | 11.8M+10.4% | 10.7M-2.8% | |
| Intangible amortization | 6.03M-17.1% | 7.27M-16.8% | 8.74M+5.7% | 8.28M+44.0% | 5.75M-4.0% | |
| Share-based compensation | 7.33M+26.0% | 5.82M+12.8% | 5.16M+10.9% | 4.65M-2.3% | 4.76M+3.5% | |
| Deferred income taxes | 2.22M+36.6% | 1.62M-75.4% | 6.60M-27.2% | 9.06M+29.8% | 6.98M+171.7% | |
| -774M-206.6% | -252M+26.7% | -344M+25.6% | -463M+68.7% | -1.48B+4.8% | ||
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Sales/maturities of investments | 65.6M+27.5% | 51.4M-8.5% | 56.2M-72.2% | 202M-27.7% | 279M-13.4% | |
| Other investing activities | 13.8M+1.2% | 13.7M-59.7% | 33.9M+92.9% | 17.6M+1.0% | 17.4M+87.6% | |
| 487M+1353.8% | -38.8M-151.3% | 75.6M-43.5% | 134M-89.2% | 1.24B-9.4% | ||
| Long-term debt issued | 854M+33.6% | 639M-23.4% | 834M-54.1% | 1.82B+3892.8% | 45.5M-92.1% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 46.9M-16.5% | 56.2M | 0.00 | 0.00-100.0% | 25.4M-54.5% | |
| Dividends paid | 82.9M+1.6% | 81.6M+2.0% | 80.1M+10.1% | 72.7M+18.8% | 61.2M+8.3% | |
| Net change in cash | -3.46M+86.2% | -25.0M-151.7% | -9.95M+77.7% | -44.6M-73.0% | -25.8M-264.1% | |
| Interest paid | 387M-10.0% | 430M+27.5% | 337M+321.2% | 80.0M+119.4% | 36.5M-47.8% | |
| Income taxes paid | 20.7M+172.0% | 7.63M-78.1% | 34.8M+152.1% | 13.8M-55.7% | 31.2M-6.1% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 2.38B+1.8% | 2.33B+5.2% | 2.22B-9.4% | 2.45B+8.6% | 2.25B+10.9% | |
| P/E | 10.5×-9.3% | 11.6×+31.7% | 8.8×-26.1% | 11.9×+8.6% | 11.0×-19.8% | |
| P/S | 3.6×-0.7% | 3.6×+8.6% | 3.3×-21.0% | 4.2×-3.0% | 4.3×+4.9% | |
| P/B | 1.0×-4.9% | 1.0×-4.5% | 1.1×-17.4% | 1.3×+8.9% | 1.2×+8.8% | |
| Earnings yield | 9.5%+10.3% | 8.6%-24.1% | 11.4%+35.3% | 8.4%-7.9% | 9.1%+24.7% | |
| Dividend yield | 3.8%+9.5% | 3.5%-3.6% | 3.6%+18.9% | 3.0%+12.7% | 2.7%-3.0% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: FRME’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all FRME filings on SEC EDGAR → Not investment advice.