First Merchants (NASDAQ:FRME) missed revenue expectations in Q2 CY2025, with sales rising 2.8% to $164.3 million. Non-GAAP profit per share was $0.98, 3.7% above analysts’ estimates. The company’s net interest income was $133 million, net interest margin was 3.3%, and efficiency ratio was 54%. First Merchants has grown revenue at a 6.9% CAGR over the past five years, but recent performance shows annualized declines of 1.3% in the last two years. Tangible book value per share grew at a 9.6% annual rate over the past two years. The stock traded up 1.6% to $42 following the results.

Read more at Bloomberg: First Merchants (NASDAQ:FRME) Reports Sales Below Analyst Estimates In Q2 Earnings