From GlobeNewswire: 2025-01-30 08:00:00

First Merchants Corporation reported fourth-quarter 2024 net income of $63.9 million, with diluted earnings per share of $1.10. Total loans grew by $185.6 million, and total deposits increased by $156.5 million. Nonperforming assets to total assets were at 43 basis points. Adjusted net income was $58.1 million, with an adjusted efficiency ratio of 53.60%.

The Corporation completed the sale of five Illinois branches, generating a gain of $20.0 million recorded in non-interest income. Total assets equaled $18.3 billion, with loans totaling $12.9 billion. Net interest margin was 3.28%, and noninterest income totaled $42.7 million, an increase of $17.9 million compared to the previous quarter.

First Merchants Corporation’s common stock is traded on the NASDAQ Global Select Market System under the symbol FRME. The Corporation reported a strong finish to 2024, positioning itself for success in 2025. For more information, contact Nicole M. Weaver, Vice President and Director of Corporate Administration, at 765-521-7619 or visit their website at http://www.firstmerchants.com.



Read more at GlobeNewswire:: First Merchants Corporation Announces Fourth Quarter 2024