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First Merchants Corporation

Financial Services US FRME

39.885USD
0.98(2.53%)

Last update at 2026-06-04T17:48:00Z

Day Range

39.4740.10
LowHigh

52 Week Range

33.5742.82
LowHigh

Fundamentals

  • Previous Close 38.90
  • Market Cap2558.53M
  • Volume126827
  • P/E Ratio10.62
  • Dividend Yield3.47%
  • Revenue TTM641.70M
  • Revenue Per Share TTM11.17
  • Gross Profit TTM 641.70M
  • Diluted EPS TTM3.80

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Analyst Recommendations

Financials

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 259.11M 231.73M 259.23M 255.67M 240.79M
Minority interest - - - - -
Net income 226.00M 201.40M 223.79M 222.09M 205.53M
Selling general administrative 282.10M 236.20M 243.42M 217.13M 173.24M
Selling and marketing expenses 7.79M 7.39M 7.43M 7.71M 5.76M
Gross profit 640.17M 591.01M 647.50M 628.14M 520.00M
Reconciled depreciation 29.42M 26.85M 11.68M 8.28M 5.75M
Ebit 259.11M 231.73M 259.23M 340.48M 240.79M
Ebitda 288.54M 258.58M 270.94M 348.75M 246.54M
Depreciation and amortization 29.42M 26.85M 11.71M 8.28M 5.75M
Non operating income net other - - - - -
Operating income 259.11M 231.73M 259.23M 340.48M 240.79M
Other operating expenses 791.09M 821.88M 740.26M -287.66700M -279.21300M
Interest expense 388.78M 426.89M 348.49M 84.80M 35.95M
Tax provision 33.11M 30.33M 43.67M 33.59M 35.26M
Interest income 924.79M 948.01M 847.88M 605.01M 446.63M
Net interest income 536.01M 521.11M 564.29M 520.20M 410.68M
Extraordinary items - - - - -
Non recurring - - - - -
Other items - - - - -
Income tax expense 33.11M 30.33M 35.45M 33.59M 35.26M
Total revenue 1050.20M 1053.60M 999.49M 628.14M 520.00M
Total operating expenses 381.06M 359.28M 388.27M -287.66700M -279.21300M
Cost of revenue 410.03M 462.59M 351.99M - -
Total other income expense net - -708.88900M -62.04800M -84.80300M -35.95200M
Discontinued operations - - - - -
Net income from continuing ops 226.00M 201.40M 252.07M 222.09M 205.53M
Net income applicable to common shares - - - 220.68M 205.53M
Preferred stock and other adjustments - - - 1.41M -
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 19025.10M 18311.97M 18405.89M 17938.31M 15453.15M
Intangible assets 13.80M 19.83M 27.10M 35.84M 25.48M
Earning assets - - - - -
Other current assets - - 751.11M -211.13100M 9553.79M
Total liab 16558.43M 16006.99M 16158.17M 15903.54M 13540.58M
Total stockholder equity 2466.67M 2304.98M 2247.71M 2034.77M 1912.57M
Deferred long term liab - - - - -
Other current liab 7788.71M 14521.63M 10170.34M -7.53000M -2.76200M
Common stock 7.12M 7.25M 7.43M 7.40M 6.68M
Capital stock 32.24M 32.37M 32.55M 32.52M 6.80M
Retained earnings 1413.74M 1272.53M 1154.62M 1012.77M 864.84M
Other liab - - - 81.23M 170.99M
Good will 712.00M 712.00M 712.00M 712.00M 545.38M
Other assets 16514.94M 15792.09M - 12475.83M 7209.24M
Cash 84.16M 386.51M 548.73M 248.66M 641.30M
Cash and equivalents - - - - -
Total current liabilities 7932.46M 14779.83M 10394.38M 7.53M 2.76M
Current deferred revenue - - -18.91200M - -
Net debt 915.78M 771.68M 502.38M 726.32M -188.62700M
Short term debt 143.75M 242.10M 224.04M - -
Short long term debt - - - - -
Short long term debt total 999.93M 1158.18M 1051.11M 974.97M 452.67M
Other stockholder equity 1150.82M 1188.77M 1236.51M 1228.63M 985.82M
Property plant equipment - - - 123.55M 105.66M
Total current assets 1584.63M 1864.81M 751.11M 333.73M 3043.04M
Long term investments 3378.64M 3460.70M 3811.36M 4263.79M 4524.35M
Net tangible assets - - - 1261.80M 1341.59M
Short term investments 1407.10M 1386.47M 1627.11M 1976.66M 2344.55M
Net receivables 93.37M 91.83M 97.66M 85.07M 57.19M
Long term debt 856.18M 916.08M 871.50M 974.97M 452.67M
Inventory - - 14.98M 6.43M 0.56M
Accounts payable 18.23M 16.10M 18.91M 7.53M 2.76M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income -130.13500M -188.68500M -175.97000M -239.15100M 55.11M
Additional paid in capital - - - - -
Common stock total equity - - - 7.40M 6.68M
Preferred stock total equity - - - 25.12M 0.12M
Retained earnings total equity - - - 1012.77M 864.84M
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other 78.66M 738.71M 415.82M -111.22200M -5200.86800M
Deferred long term asset charges - - - - -
Non current assets total 925.52M 16447.16M 17654.78M 5128.75M 5200.87M
Capital lease obligations - - - - -
Long term debt total - - - 1313.94M 634.25M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments 97.11M -252.42400M -275.58700M -595.84400M -1464.30500M
Change to liabilities - - - 3.70M -0.52500M
Total cashflows from investing activities -773.82300M -252.42400M - -446.44100M -1469.44600M
Net borrowings -158.25100M 129.41M - 485.50M -50.66200M
Total cash from financing activities 486.72M -38.81900M 75.65M 133.84M 1236.31M
Change to operating activities - - - -1.50700M -5.39800M
Net income 226.00M 201.40M 223.79M 222.09M 205.53M
Change in cash -3.45800M -25.03300M -9.94500M -44.55200M -25.75000M
Begin period cash flow 87.62M 112.65M 122.59M 167.15M 192.90M
End period cash flow 84.16M 87.62M 112.65M 122.59M 167.15M
Total cash from operating activities 283.65M 266.21M 260.19M 268.05M 207.38M
Issuance of capital stock 2.34M 2.26M 2.12M 2.06M 1.88M
Depreciation 29.42M 26.85M 11.71M 11.81M 10.70M
Other cashflows from investing activities -870.93800M -280.18100M - 70.08M -8.36600M
Dividends paid 84.79M 83.50M 81.94M 74.15M 61.23M
Change to inventory - - 23.79M - -
Change to account receivables -1.54500M 5.83M -12.59400M -20.69500M -3.23900M
Sale purchase of stock -46.89000M -56.16800M 0.00000M 3.12M -25.44400M
Other cashflows from financing activities 773.23M -30.82300M 438.71M 1538.83M 1417.31M
Change to netincome - - - -199.72500M 19.00M
Capital expenditures 0.00000M 0.00000M 0.00000M 0.00000M 64.27M
Change receivables - - - -20.69500M -3.23900M
Cash flows other operating - - - -11.53100M -24.08400M
Exchange rate changes - - - - -
Cash and cash equivalents changes - - - -44.55200M -25.75000M
Change in working capital -5.93300M -2.63000M 19.34M -22.20200M -8.63700M
Stock based compensation 7.33M 5.82M 5.16M 4.65M 4.76M
Other non cash items 24.60M 33.15M -6.39600M 42.63M -11.95800M
Free cash flow 283.65M 266.21M 260.19M 268.05M 143.11M

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) Enterprise Value to Revenue (x)
FRME
First Merchants Corporation		 0.98 2.53% 39.88 10.62 11.07 3.99 1.05 5.18
HDB
HDFC Bank Limited ADR		 0.41 1.74% 23.96 20.81 20.96 0.11 4.77
CIHKY
China Merchants Bank Co Ltd		 0.03 0.08% 30.42 7.78 7.65 0.56 0.90 3.62
DBSDF
DBS Group Holdings Ltd		 1.22 2.50% 50.10 15.29 14.41 5.84 2.36 10.40
CIHHF
China Merchants Bank Co Ltd Class H		 - -% 5.92 6.10 5.67 0.44 0.77 3.43

Reports Covered

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Profile

First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products. It also provides personal and commercial wealth management services, brokerage, investment management, private banking, fiduciary estate, and financial planning services. The company operates banking locations in Indiana, Ohio, and Michigan counties. It 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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