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First Merchants Corporation

Financial Services US FRME

36.805USD
-0.585(1.56%)

Last update at 2026-03-11T14:59:00Z

Day Range

36.5237.21
LowHigh

52 Week Range

25.1137.77
LowHigh

Fundamentals

  • Previous Close 37.39
  • Market Cap1929.12M
  • Volume50320
  • P/E Ratio9.52
  • Dividend Yield4.20%
  • Revenue TTM630.09M
  • Revenue Per Share TTM10.63
  • Gross Profit TTM 611.39M
  • Diluted EPS TTM3.46

Source: TradingView
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Analyst Recommendations

Financials

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax 255.67M 240.79M 169.97M 193.78M 188.14M
Minority interest - - - - -
Net income 222.09M 205.53M 148.60M 164.46M 159.14M
Selling general administrative 217.13M 173.24M 161.74M 144.75M 134.62M
Selling and marketing expenses 7.71M 5.76M 6.61M 6.65M 4.68M
Gross profit 628.14M 520.00M 492.05M 443.35M 415.32M
Reconciled depreciation 8.28M 5.75M 11.01M 9.38M 8.84M
Ebit 340.48M 240.79M 169.97M 193.78M 259.35M
Ebitda 348.75M 246.54M 175.96M 199.78M 266.07M
Depreciation and amortization 8.28M 5.75M 5.99M 5.99M 6.72M
Non operating income net other - - - - -
Operating income 340.48M 240.79M 169.97M 193.78M 257.23M
Other operating expenses -287.66700M -279.21300M -322.07800M -249.56300M 158.09M
Interest expense 84.80M 35.95M 66.38M 108.75M 69.09M
Tax provision 33.59M 35.26M 21.38M 29.32M 29.00M
Interest income 605.01M 446.63M 448.51M 465.40M 407.94M
Net interest income 520.20M 410.68M 382.13M 356.66M 338.86M
Extraordinary items - - - - -
Non recurring - - - - -
Other items - - - - -
Income tax expense 33.59M 35.26M 21.38M 29.32M 29.00M
Total revenue 628.14M 520.00M 492.05M 443.35M 415.32M
Total operating expenses -287.66700M -279.21300M -322.07800M -249.56300M -158.09100M
Cost of revenue - - - - 76.31M
Total other income expense net -84.80300M -35.95200M -66.38100M -108.74500M -69.08700M
Discontinued operations - - - - -
Net income from continuing ops 222.09M 205.53M 148.60M 164.46M 159.14M
Net income applicable to common shares 220.68M 205.53M 148.60M 164.46M 159.14M
Preferred stock and other adjustments 1.41M - - - -
Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total assets 18405.89M 17938.31M 15453.15M 14067.21M 12457.25M
Intangible assets 27.10M 35.84M 25.48M 28.98M 34.96M
Earning assets - - - - 2779.95M
Other current assets 751.11M -211.13100M 9553.79M 7678.20M 7034.87M
Total liab 16158.17M 15903.54M 13540.58M 12191.57M 10670.82M
Total stockholder equity 2247.71M 2034.77M 1912.57M 1875.64M 1786.44M
Deferred long term liab - - - - -
Other current liab 10170.34M -7.53000M -2.76200M -3.28700M -6.75400M
Common stock 7.43M 7.40M 6.68M 6.74M 6.92M
Capital stock 32.55M 32.52M 6.80M 6.87M 7.05M
Retained earnings 1154.62M 1012.77M 864.84M 788.58M 696.52M
Other liab - 81.23M 170.99M 141.76M 40.68M
Good will 712.00M 712.00M 545.38M 543.92M 543.92M
Other assets - 12475.83M 7209.24M 7678.20M 7034.87M
Cash 548.73M 248.66M 641.30M 585.20M 295.46M
Cash and equivalents - - - - -
Total current liabilities 10394.38M 7.53M 2.76M 3.29M 6.75M
Current deferred revenue -18.91200M - - - -
Net debt 502.38M 726.32M -188.62700M -77.39100M 194.29M
Short term debt 224.04M - - 81.59M 229.32M
Short long term debt - - - - 229.32M
Short long term debt total 1051.11M 974.97M 452.67M 507.81M 489.76M
Other stockholder equity 1236.51M 1228.63M 985.82M 1005.37M 1055.00M
Property plant equipment - 123.55M 105.66M 112.00M 120.58M
Total current assets 751.11M 333.73M 3043.04M 2558.27M 2134.39M
Long term investments 3811.36M 4263.79M 4524.35M 12263.28M 10984.13M
Net tangible assets - 1261.80M 1341.59M 1302.63M 1207.43M
Short term investments 1627.11M 1976.66M 2344.55M 1919.12M 1790.03M
Net receivables 97.66M 85.07M 57.19M 53.95M 48.90M
Long term debt 871.50M 974.97M 452.67M 684.91M 138.69M
Inventory 14.98M 6.43M 0.56M 0.94M 7.53M
Accounts payable 18.91M 7.53M 2.76M 3.29M 6.75M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income -175.97000M -239.15100M 55.11M 74.84M 27.87M
Additional paid in capital - - - - -
Common stock total equity - 7.40M 6.68M 6.74M 6.92M
Preferred stock total equity - 25.12M 0.12M 0.12M 0.12M
Retained earnings total equity - 1012.77M 864.84M 788.58M 696.52M
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other 415.82M -111.22200M -5200.86800M -12.34000M -12.16500M
Deferred long term asset charges - - - - -
Non current assets total 17654.78M 5128.75M 5200.87M 3830.74M 3288.00M
Capital lease obligations - - - - -
Long term debt total - 1313.94M 634.25M 684.91M 138.69M
Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Investments -275.58700M -595.84400M -1464.30500M -1552.00300M -1010.91700M
Change to liabilities - 3.70M -0.52500M -3.46700M 1.09M
Total cashflows from investing activities - -446.44100M -1469.44600M -1552.02500M -1006.39900M
Net borrowings - 485.50M -50.66200M -47.79100M -43.87100M
Total cash from financing activities 75.65M 133.84M 1236.31M 1362.91M 865.95M
Change to operating activities - -1.50700M -5.39800M -8.50700M -3.42800M
Net income 223.79M 222.09M 205.53M 148.60M 164.46M
Change in cash -9.94500M -44.55200M -25.75000M 15.70M 37.95M
Begin period cash flow 122.59M 167.15M 192.90M 177.20M 139.25M
End period cash flow 112.65M 122.59M 167.15M 192.90M 177.20M
Total cash from operating activities 260.19M 268.05M 207.38M 204.81M 178.41M
Issuance of capital stock 2.12M 2.06M 1.88M 1.73M 1.53M
Depreciation 11.71M 11.81M 10.70M 11.01M 9.38M
Other cashflows from investing activities - 70.08M -8.36600M -0.02200M 4.50M
Dividends paid 81.94M 74.15M 61.23M 56.54M 51.28M
Change to inventory 23.79M - - - -
Change to account receivables -12.59400M -20.69500M -3.23900M -5.04700M -4.65900M
Sale purchase of stock 0.00000M 3.12M -25.44400M -56.89200M -20.72100M
Other cashflows from financing activities 438.71M 1538.83M 1417.31M 2096.16M 1579.58M
Change to netincome - -199.72500M 19.00M 81.53M 18.78M
Capital expenditures 0.00000M 0.00000M 64.27M 0.00000M 312.44M
Change receivables - -20.69500M -3.23900M -5.04700M -4.65900M
Cash flows other operating - -11.53100M -24.08400M -27.81200M -10.64300M
Exchange rate changes - - - - -
Cash and cash equivalents changes - -44.55200M -25.75000M 15.70M 37.95M
Change in working capital 19.34M -22.20200M -8.63700M -13.55400M -8.08700M
Stock based compensation 5.16M 4.65M 4.76M 4.60M 4.12M
Other non cash items -6.39600M 42.63M -11.95800M 63.89M 3.57M
Free cash flow 260.19M 268.05M 143.11M 204.81M -134.02900M

Peer Comparison

Sector: Financial Services Industry: Banks - Regional

Company Change (USD) Price (USD) Trailing PE (x) Forward PE (x) Price Sales TTM (x) Price to Book Value (x)
FRME
First Merchants Corporation		 -0.585 1.56% 36.80 9.52 10.03 3.03 0.88
HDB
HDFC Bank Limited ADR		 -0.92 3.12% 28.56 20.81 20.96 0.11 4.77
CIHKY
China Merchants Bank Co Ltd		 -0.14 0.44% 31.53 6.61 5.68 0.48 0.77 3.43
IBN
ICICI Bank Limited		 -0.73 2.60% 27.32 17.79 16.95 0.07 3.08
BNPQY
BNP Paribas SA ADR		 0.90 1.77% 51.86 8.57 6.56 1.75 0.57

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Profile

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. The company offers a range of financial services, including time, savings, and demand deposits; and consumer, commercial, agri-business, public finance, and real estate mortgage loans. It also provides personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services. The company operates banking locations in Indiana, Illinois, Ohio, and Michigan counties. It also offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.

First Merchants Corporation

200 East Jackson Street, Muncie, IN, United States, 47305-2814

Key Executives

Name Title Year Born
Mr. Mark K. Hardwick CEO & Director 1971
Mr. Michael J. Stewart Pres 1966
Ms. Michele M. Kawiecki Exec. VP, CFO & Principal Accounting Officer 1973
Mr. Stephan H. Fluhler Sr. VP & Chief Information Officer 1969
Mr. Michael C. Rechin Advisor & Director 1959
Mr. John J. Martin Exec. VP & Chief Credit Officer 1967
Mr. Marcos Nogues C.F.A. Chief Investment Officer NA
Ms. Nicole M. Weaver VP & Director of Corp. Admin. NA
Mr. Brian T. Hunt Sec. & Legal Counsel 1960
Ms. Karen Evens VP & Director of Marketing NA

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