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First Merchants Corporation

First Merchants Corporation

FRME · NASDAQ · Financial Services / Banks - Regional

40.90USD-0.04 (-0.10%)

Price History

Full chart

Market Stats

Previous Close40.94
Open41.07
Day Range40.69 – 41.07
52-Week Range33.40 – 44.93
Volume253.80K
Market Cap2.56B
P/E (TTM)13.09
Forward P/E11.07
EPS3.11
Dividend Yield3.66%
Beta0.85
50-Day Avg42.32
200-Day Avg40.50

About

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.

Company Details

  • SectorFinancial Services
  • IndustryBanks - Regional
  • CEOMr. Mark K. Hardwick CPA
  • Employees2.09K
  • Headquarters200 East Jackson Street, Muncie, IN, United States, 47305-2814, USA
  • Websitehttps://www.firstmerchants.com

Leadership

  • Mr. Mark K. Hardwick CPACEO & Director · b. 1971
  • Mr. Michael C. RechinAdvisor & Vice Chair · b. 1959
  • Mr. Michael J. StewartPresident · b. 1966
  • Ms. Michele M. KawieckiExecutive VP, CFO & Principal Accounting Officer · b. 1973
  • Mr. John J. MartinExecutive VP & Chief Credit Officer · b. 1967
  • Mr. Joseph C. PetersonExecutive VP & Chief Commercial Officer · b. 1976
  • Mr. Marcos Nogues C.F.A.Chief Investment Officer
  • Mr. Stephan H. FluhlerSenior VP & Chief Information Officer · b. 1969
  • Ms. Nicole M. WeaverVP & Director of Corporate Administration
  • Mr. Brian T. Hunt J.D.Secretary & Legal Counsel · b. 1960

Financials

Income Statement

Currency: USD1987-12-311988-12-311989-12-311990-12-311991-12-311992-12-311993-12-311994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue--50.30M52.00M53.80M51.50M48.60M49.40M56.90M77.80M98.30M107.10M115.07M133.16M138.98M173.76M191.43M191.53M211.93M243.22M271.28M258.52M288.37M248.12M230.37M240.25M226.85M270.69M281.55M318.51M385.90M484.40M552.09M558.43M555.96M712.95M999.49M1.05B1.05B
Growth (%)---+3.38%+3.46%-4.28%-5.63%+1.65%+15.18%+36.73%+26.35%+8.95%+7.44%+15.72%+4.37%+25.03%+10.17%+0.05%+10.65%+14.77%+11.54%-4.70%+11.55%-13.96%-7.16%+4.29%-5.58%+19.33%+4.01%+13.13%+21.16%+25.52%+13.97%+1.15%-0.44%+28.24%+40.19%+5.41%-0.32%
Cost of Revenue--28.70M29.50M28.00M22.10M17.50M16.90M22.70M33.70M43.10M46.90M49.10M63.17M59.65M60.93M61.87M57.29M74.43M104.77M126.12M118.33M199.27M102.49M60.52M42.15M23.22M24.40M25.21M32.50M46.76M76.31M111.55M125.05M35.95M101.56M351.99M462.59M410.03M
Gross Profit--21.60M22.50M25.80M29.40M31.10M32.50M34.20M44.10M55.20M60.20M65.97M69.99M79.33M112.83M129.57M134.24M137.49M138.45M145.16M140.19M89.10M145.63M169.84M198.10M203.63M246.29M256.34M286.02M339.15M408.09M440.55M433.38M520.00M611.39M647.50M591.01M640.17M
Gross Margin--42.94%43.27%47.96%57.09%63.99%65.79%60.11%56.68%56.15%56.21%57.33%52.56%57.08%64.93%67.68%70.09%64.88%56.92%53.51%54.23%30.90%58.69%73.73%82.46%89.77%90.99%91.05%89.80%87.88%84.25%79.80%77.61%93.53%85.76%64.78%56.09%60.96%
Operating Expense--13.70M13.50M15.80M17.60M18.20M18.40M18.90M24.00M30.00M32.70M36.77M40.08M45.20M71.01M91.28M91.64M93.96M96.06M102.18M111.47M158.29M142.31M135.94M137.12M143.22M164.01M165.29M177.36M205.56M219.95M246.76M263.40M279.21M355.71M388.27M359.28M381.06M
Operating Income3.90M4.40M7.90M9.00M10.00M11.80M12.90M14.10M15.30M20.10M25.20M27.50M29.20M29.91M34.13M41.82M38.29M42.60M43.53M42.39M42.98M28.72M-69.19M3.32M33.91M60.99M60.41M82.28M91.05M108.66M133.59M188.14M193.78M169.97M240.79M255.67M259.23M231.73M259.11M
Operating Margin--15.71%17.31%18.59%22.91%26.54%28.54%26.89%25.84%25.64%25.68%25.38%22.46%24.56%24.07%20.00%22.24%20.54%17.43%15.84%11.11%-23.99%1.34%14.72%25.39%26.63%30.40%32.34%34.11%34.62%38.84%35.10%30.44%43.31%35.86%25.94%21.99%24.67%
EBITDA3.90M4.40M8.40M9.60M10.60M12.60M14.70M16.50M17.20M22.00M27.80M30.40M32.30M34.07M38.81M49.11M43.06M47.66M48.60M47.77M47.31M33.33M-63.23M9.02M39.06M65.46M65.08M88.29M97.31M115.82M141.56M196.98M203.17M180.98M251.49M267.49M270.94M258.58M288.54M
EBITDA Margin--16.70%18.46%19.70%24.47%30.25%33.40%30.23%28.28%28.28%28.38%28.07%25.59%27.92%28.26%22.49%24.88%22.93%19.64%17.44%12.89%-21.93%3.64%16.96%27.25%28.69%32.62%34.56%36.36%36.68%40.66%36.80%32.41%45.24%37.52%27.11%24.54%27.47%
Net Income3.90M4.40M5.70M6.00M6.80M7.80M8.70M9.20M9.90M13.10M16.50M17.90M19.10M19.94M22.21M27.84M27.57M29.41M30.24M30.20M31.64M20.64M-40.76M6.91M25.25M45.12M44.53M60.16M65.38M81.05M96.07M159.14M164.46M148.60M205.53M222.09M223.79M201.40M226.00M
Net Income Margin--11.33%11.54%12.64%15.15%17.90%18.62%17.40%16.84%16.79%16.71%16.60%14.97%15.98%16.02%14.40%15.36%14.27%12.42%11.66%7.98%-14.14%2.78%10.96%18.78%19.63%22.23%23.22%25.45%24.89%32.85%29.79%26.61%36.97%31.15%22.39%19.12%21.52%
R&D------------------------00000000-------
R&D as % of Total Revenue------------------------0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%-------
Interest Expense0027.50M28.20M26.60M20.70M16.50M16.10M22.10M32.40M41.40M44.50M46.90M60.55M56.07M53.76M52.39M51.59M66.08M98.51M117.61M90.09M77.09M56.01M37.89M23.61M16.57M21.84M24.79M26.84M37.61M69.09M108.75M66.38M35.95M84.80M348.49M426.89M388.78M
Interest Expense % of Total Revenue--54.67%54.23%49.44%40.19%33.95%32.59%38.84%41.65%42.12%41.55%40.76%45.47%40.35%30.94%27.37%26.93%31.18%40.50%43.35%34.85%26.73%22.57%16.45%9.83%7.30%8.07%8.81%8.43%9.75%14.26%19.70%11.89%6.47%11.89%34.87%40.52%37.02%

Balance Sheet

Currency: USD1987-12-311988-12-311989-12-311990-12-311991-12-311992-12-311993-12-311994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets--522.80M541.10M596.60M616.90M626.10M644.60M707.90M968.00M1.02B1.36B1.47B1.62B1.79B2.68B3.08B3.19B3.24B3.55B3.78B4.78B4.48B4.17B4.17B4.30B5.44B5.82B6.76B7.21B9.37B9.88B12.46B14.07B15.45B17.94B18.41B18.31B19.03B
Total Liabilities--474.60M489.80M538.10M553.00M557.30M573.60M627.40M855.30M898.10M1.21B1.35B1.47B1.61B2.42B2.77B2.88B2.92B3.23B3.44B4.39B4.02B3.72B3.66B3.75B4.80B5.10B5.91B6.31B8.06B8.48B10.67B12.19B13.54B15.90B16.16B16.01B16.56B
Total Equity--48.20M51.30M58.50M63.90M68.80M71.00M80.50M112.70M122.00M153.90M126.30M156.06M179.13M261.13M303.96M314.60M313.40M327.32M339.94M395.90M463.79M454.41M514.47M552.24M634.92M726.83M850.51M901.66M1.30B1.41B1.79B1.88B1.91B2.03B2.25B2.30B2.47B
Cash--62.90M43.80M48.80M55.20M26.90M46.40M69.10M35.30M42.60M36.50M60.60M53.45M72.61M91.21M85.25M79.30M79.17M101.24M159.61M123.07M150.83M116.06M126.16M139.90M164.50M166.14M134.49M152.39M189.93M176.21M295.46M585.20M641.30M248.66M548.73M386.51M84.16M
Total Debt--63.00M56.20M49.10M37.10M46.90M39.20M35.00M54.20M47.50M113.70M189.90M163.58M174.40M356.93M383.17M440.89M508.24M440.76M568.77M618.35M450.23M419.00M489.37M367.09M523.26M411.99M696.39M566.66M594.56M473.41M732.70M920.65M1.01B2.12B1.03B1.16B999.93M
Net Debt--100.00K12.40M300.00K-18.10M20.00M-7.20M-34.10M18.90M4.90M77.20M129.30M110.14M101.79M265.72M297.92M361.59M429.07M339.52M409.16M495.28M299.40M302.94M363.21M227.19M358.76M245.86M229.01M274.98M363.79M277.24M437.24M-77.39M-188.63M726.32M480.05M771.68M915.78M

Cash Flow

Currency: USD1989-12-311990-12-311991-12-311992-12-311993-12-311994-12-311995-12-311996-12-311997-12-311998-12-311999-12-312000-12-312001-12-312002-12-312003-12-312004-12-312005-12-312006-12-312007-12-312008-12-312009-12-312010-12-312011-12-312012-12-312013-12-312014-12-312015-12-312016-12-312017-12-312018-12-312019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow7.60M7.80M9.50M10.70M11.30M12.50M11.80M16.80M19.30M19.40M25.70M29.79M31.21M17.70M65.67M39.95M46.49M36.28M49.61M39.01M17.61M81.05M85.48M70.27M183.13M75.84M56.66M103.72M126.50M180.24M178.41M204.81M207.38M268.05M258.83M266.21M283.65M
Investing Cash Flow-7.90M-37.80M-4.40M-17.10M-38.80M-4.10M-39.30M-73.50M-67.20M-144.10M-119.10M-31.91M27.47M-100.52M-103.77M-163.83M-65.19M-298.00M-197.58M-140.19M258.49M109.85M-28.16M11.89M-138.16M-125.99M-340.39M-448.70M-635.33M-575.58M-1.01B-1.55B-1.47B-446.44M-344.43M-252.42M-773.82M
Financing Cash Flow26.20M12.30M900.00K12.90M300.00K11.40M50.00M13.90M51.10M161.70M97.00M-14.70M-23.12M98.83M28.59M84.31M19.15M281.26M192.69M116.98M-247.44M-311.74M-42.32M-54.01M-36.99M59.33M267.29M370.74M535.81M379.68M865.95M1.36B1.24B133.84M75.65M-38.82M486.72M
Capital Expenditure700.00K500.00K1.10M1.40M2.60M1.20M2.10M2.10M2.60M5.20M3.70M4.41M2.44M4.85M0000000013.61M108.63M53.89M146.03M325.37M9.97M432.06M9.12M312.44M064.27M0000
Free Cash Flow6.90M7.30M8.40M9.30M8.70M11.30M9.70M14.70M16.70M14.20M22.00M25.38M28.77M12.84M65.67M39.95M46.49M36.28M49.61M39.01M17.61M81.05M85.48M70.27M183.13M75.84M56.66M103.72M126.50M180.24M-134.03M204.81M143.11M268.05M258.83M266.21M283.65M
Dividends Paid2.00M2.20M2.60M2.90M3.20M3.60M3.90M5.40M7.10M7.90M9.80M10.33M11.13M13.99M16.56M17.05M16.98M16.95M16.85M16.77M14.25M5.92M4.73M7.44M7.99M10.69M15.65M22.20M31.82M41.66M51.28M56.54M61.23M74.15M81.94M83.50M84.79M
FCF to OCF90.79%93.59%88.42%86.92%76.99%90.40%82.20%87.50%86.53%73.20%85.60%85.20%92.19%72.57%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%-75.13%100.00%69.01%100.00%100.00%100.00%100.00%
Dividend Paid to FCF28.99%30.14%30.95%31.18%36.78%31.86%40.21%36.73%42.51%55.63%44.55%40.71%38.67%108.99%25.21%42.67%36.52%46.73%33.97%43.00%80.94%7.30%5.53%10.59%4.36%14.10%27.63%21.41%25.15%23.11%-38.26%27.61%42.78%27.66%31.66%31.37%29.89%

Earnings

Report DateOct 31, 1995Feb 1, 1996Apr 18, 1996Jul 29, 1996Nov 4, 1996Feb 13, 1997Apr 30, 1997Nov 4, 1997Jan 30, 1998Apr 21, 1998Jul 20, 1998Oct 29, 1998Jan 27, 1999Jun 9, 1999Jun 30, 1999Nov 16, 1999Jan 24, 2000Apr 12, 2000Jul 20, 2000Oct 18, 2000Jan 23, 2001Apr 11, 2001Jul 24, 2001Oct 24, 2001Jan 24, 2002May 15, 2002Jul 22, 2002Oct 28, 2002Jan 23, 2003Apr 28, 2003Jul 21, 2003Oct 22, 2003Jan 21, 2004Apr 22, 2004Jul 21, 2004Oct 20, 2004Jan 28, 2005Apr 20, 2005Jul 18, 2005Oct 17, 2005Jan 27, 2006Apr 19, 2006Jul 24, 2006Oct 23, 2006Jan 23, 2007May 1, 2007Jul 20, 2007Oct 18, 2007Jan 23, 2008Apr 22, 2008Jul 23, 2008Oct 22, 2008Feb 5, 2009Apr 29, 2009Aug 3, 2009Nov 2, 2009Feb 1, 2010Apr 28, 2010Jul 28, 2010Oct 28, 2010Jan 27, 2011Apr 28, 2011Jul 28, 2011Oct 25, 2011Jan 26, 2012Apr 26, 2012Jul 26, 2012Oct 25, 2012Jan 24, 2013Apr 25, 2013Jul 25, 2013Oct 24, 2013Jan 28, 2014Apr 24, 2014Jul 24, 2014Oct 23, 2014Jan 27, 2015Apr 23, 2015Jul 23, 2015Oct 22, 2015Jan 28, 2016Apr 26, 2016Jul 26, 2016Oct 25, 2016Jan 26, 2017Apr 27, 2017Jul 27, 2017Oct 26, 2017Jan 25, 2018Apr 25, 2018Jul 25, 2018Oct 24, 2018Jan 31, 2019Apr 25, 2019Jul 25, 2019Oct 24, 2019Jan 30, 2020Apr 23, 2020Jul 23, 2020Oct 28, 2020Jan 28, 2021Apr 22, 2021Jul 26, 2021Oct 26, 2021Jan 27, 2022Apr 26, 2022Jul 26, 2022Oct 25, 2022Jan 26, 2023Apr 25, 2023Jul 25, 2023Oct 26, 2023Jan 25, 2024May 1, 2024Jul 25, 2024Oct 24, 2024Jan 30, 2025Apr 24, 2025Jul 23, 2025Oct 22, 2025Jan 26, 2026Apr 22, 2026Jul 22, 2026Oct 28, 2026
EPS Estimate0.280.290.290.300.300.290.290.310.310.320.330.340.340.33-0.350.360.370.380.400.410.390.410.420.430.410.430.460.460.440.440.490.400.350.380.410.420.390.430.450.450.440.420.420.420.410.390.450.450.470.470.400.260.220.01-0.07-0.16-0.06-0.04-0.010.070.090.15-0.250.190.230.230.280.300.290.310.350.340.390.410.430.420.420.440.440.420.400.460.490.490.520.550.570.510.700.750.800.820.810.810.800.860.570.470.630.660.780.920.910.930.870.881.091.161.141.020.950.870.820.800.900.900.910.950.960.950.971.031.03
EPS Actual0.410.290.260.290.290.300.300.290.320.320.320.330.330.340.330.340.350.380.390.410.350.380.410.430.400.390.460.460.380.320.480.390.310.370.400.410.400.300.430.440.410.410.390.420.420.420.400.460.510.450.360.320.010.17-1.49-0.49-0.550.01-0.070.020.100.170.18-0.250.240.460.280.350.320.380.340.350.470.380.410.450.410.430.550.520.440.470.490.510.550.560.570.500.610.740.800.830.850.780.830.900.900.620.620.670.830.911.030.980.890.911.011.121.191.071.020.940.870.850.680.951.000.940.980.990.981.030.74-
Surprise46.43%0.00%-10.34%-3.33%-3.33%3.45%3.45%-6.45%3.23%0.00%-3.03%-2.94%-2.94%3.03%--2.86%-2.78%2.70%2.63%2.50%-14.63%-2.56%0.00%2.38%-6.98%-4.88%6.98%0.00%-17.39%-27.27%9.09%-20.41%-22.50%5.71%5.26%0.00%-4.76%-23.08%0.00%-2.22%-8.89%-6.82%-7.14%0.00%0.00%2.44%2.56%2.22%13.33%-4.26%-23.40%-20.00%-96.15%-22.73%-15000.00%-600.00%-243.75%116.67%-75.00%300.00%42.86%88.89%20.00%0.00%26.32%100.00%21.74%25.00%6.67%31.03%9.68%0.00%38.24%-2.56%0.00%4.65%-2.38%2.38%25.00%18.18%4.76%17.50%6.52%4.08%12.24%7.69%3.64%-12.28%19.61%5.71%6.67%3.75%3.66%-3.70%2.47%12.50%4.65%8.77%31.91%6.35%25.76%16.67%11.96%7.69%-4.30%4.60%14.77%2.75%2.59%-6.14%0.00%-1.05%0.00%3.66%-15.00%5.56%11.11%3.30%3.16%3.13%3.16%6.19%-28.16%-
Timing----Pre-marketPre-marketPre-marketPre-market-------------------After-hoursPre-marketPre-marketAfter-hoursAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursAfter-hoursPre-marketPre-marketAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursPre-marketAfter-hoursAfter-hoursPre-marketAfter-hoursAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketAfter-hoursPre-marketPre-marketPre-marketPre-marketAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours-

Key Statistics & Ratios

Market Cap2.56B
Enterprise Value3.57B
Trailing P/E13.09
Forward P/E11.07
PEG Ratio1.40
Price / Sales3.98
Price / Book0.94
EPS3.11
Book Value42.96
Revenue (TTM)642.19M
Gross Profit (TTM)642.19M
Profit Margin28.96%
Operating Margin34.27%
Return on Equity7.37%
Return on Assets0.93%
Shares Outstanding62.80M
Shares Float61.57M
Beta0.85
Dividend Yield3.66%
Dividend Rate1.48
Payout Ratio39.04%

Analyst Ratings

Buy
Based on 6 analystsTarget 48.00
  • Strong Buy
    2
  • Buy
    2
  • Hold
    2

Ownership Breakdown

Institutions
76.28%
Insiders
2.09%
Retail / Other
21.63%

Top Institutional Holders

  • BlackRock Inc
    4.90M7.80%
  • Dimensional Fund Advisors, Inc.
    3.69M5.88%
  • Vanguard Portfolio Management, LLC
    3.36M5.35%
  • Vanguard Capital Management, LLC
    2.73M4.35%
  • Earnest Partners LLC
    2.26M3.59%
  • State Street Corp
    2.24M3.57%
  • Geode Capital Management, LLC
    1.57M2.51%
  • The Goldman Sachs Group Inc
    1.14M1.81%
  • Nuveen, LLC
    1.04M1.66%
  • Victory Capital Management Inc.
    1.04M1.66%
  • Systematic Financial Management LP
    862.00K1.37%
  • First Trust Advisors L.P.
    776.09K1.24%
  • Bank of New York Mellon Corp
    759.67K1.21%
  • Charles Schwab Investment Management Inc
    719.42K1.15%

Top Fund Holders

  • Vanguard MStar Total Stk Mkt Idx Invest
    1.91M3.05%
  • iShares Russell 2000 ETF
    1.65M2.62%
  • Vanguard Small Cap Index
    1.38M2.19%
  • Vanguard MStar Small Cap Value Index
    874.86K1.39%
  • DFA US Small Cap Value I
    841.43K1.34%
  • Harbor Small Cap Value Instl
    818.76K1.30%

Dividends

20263×
0.37Sep 4, 20260.37Jun 5, 20260.36Mar 6, 2026
20254×
0.36Dec 5, 20250.36Sep 5, 20250.36Jun 6, 20250.35Mar 7, 2025
20244×
0.35Dec 6, 20240.35Sep 6, 20240.35Jun 7, 20240.34Feb 29, 2024
20234×
0.34Nov 30, 20230.34Aug 31, 20230.34Jun 1, 20230.32Mar 2, 2023
20224×
0.32Dec 1, 20220.32Sep 1, 20220.32Jun 2, 20220.29Mar 3, 2022
20214×
0.29Dec 2, 20210.29Sep 2, 20210.29Jun 3, 20210.26Mar 4, 2021
20201×
0.26Dec 3, 2020

Stock Splits

  • Aug 27, 200321:20
  • Aug 28, 200221:20
  • Aug 29, 200121:20
  • Oct 26, 19983:2
  • Oct 30, 19953:2
  • Jan 26, 19933:2