First Merchants Corporation Depository Shares

FRMEP · NASDAQ · Financial Services / Banks - Regional

25.00USD-0.23 (-0.89%)

Price History

Full chart

Market Stats

Previous Close25.23

Open25.13

Day Range25.00 – 25.13

52-Week Range23.81 – 26.51

Volume2.78K

Market Cap2.42B

P/E (TTM)6.62

Forward P/E0.00

EPS3.81

Dividend Yield7.44%

Beta0.85

50-Day Avg25.28

200-Day Avg25.57

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: USD	1987-12-31	1988-12-31	1989-12-31	1990-12-31	1991-12-31	1992-12-31	1993-12-31	1994-12-31	1995-12-31	1996-12-31	1997-12-31	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: USD	1987-12-31	1988-12-31	1989-12-31	1990-12-31	1991-12-31	1992-12-31	1993-12-31	1994-12-31	1995-12-31	1996-12-31	1997-12-31	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Revenue	-	-	50.30M	52.00M	53.80M	51.50M	48.60M	49.40M	56.90M	77.80M	98.30M	107.10M	115.07M	133.16M	138.98M	173.76M	191.43M	191.53M	211.93M	243.22M	271.28M	258.52M	288.37M	248.12M	230.37M	240.25M	226.85M	270.69M	281.55M	318.51M	385.90M	484.40M	552.09M	558.43M	555.96M	712.95M	999.49M	1.05B	1.05B
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	-	-	28.70M	29.50M	28.00M	22.10M	17.50M	16.90M	22.70M	33.70M	43.10M	46.90M	49.10M	63.17M	59.65M	60.93M	61.87M	57.29M	74.43M	104.77M	126.12M	118.33M	199.27M	102.49M	60.52M	42.15M	23.22M	24.40M	25.21M	32.50M	46.76M	76.31M	111.55M	125.05M	35.95M	101.56M	351.99M	462.59M	410.03M
Gross Profit	-	-	21.60M	22.50M	25.80M	29.40M	31.10M	32.50M	34.20M	44.10M	55.20M	60.20M	65.97M	69.99M	79.33M	112.83M	129.57M	134.24M	137.49M	138.45M	145.16M	140.19M	89.10M	145.63M	169.84M	198.10M	203.63M	246.29M	256.34M	286.02M	339.15M	408.09M	440.55M	433.38M	520.00M	611.39M	647.50M	591.01M	640.17M
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	-	-	13.70M	13.50M	15.80M	17.60M	18.20M	18.40M	18.90M	24.00M	30.00M	32.70M	36.77M	40.08M	45.20M	71.01M	91.28M	91.64M	93.96M	96.06M	102.18M	111.47M	158.29M	142.31M	135.94M	137.12M	143.22M	164.01M	165.29M	177.36M	205.56M	219.95M	246.76M	263.40M	279.21M	355.71M	388.27M	359.28M	381.06M
Operating Income	3.90M	4.40M	7.90M	9.00M	10.00M	11.80M	12.90M	14.10M	15.30M	20.10M	25.20M	27.50M	29.20M	29.91M	34.13M	41.82M	38.29M	42.60M	43.53M	42.39M	42.98M	28.72M	-69.19M	3.32M	33.91M	60.99M	60.41M	82.28M	91.05M	108.66M	133.59M	188.14M	193.78M	169.97M	240.79M	255.67M	259.23M	231.73M	259.11M
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%
EBITDA	3.90M	4.40M	8.40M	9.60M	10.60M	12.60M	14.70M	16.50M	17.20M	22.00M	27.80M	30.40M	32.30M	34.07M	38.81M	49.11M	43.06M	47.66M	48.60M	47.77M	47.31M	33.33M	-63.23M	9.02M	39.06M	65.46M	65.08M	88.29M	97.31M	115.82M	141.56M	196.98M	203.17M	180.98M	251.49M	267.49M	270.94M	258.58M	288.54M
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 Income	3.90M	4.40M	5.70M	6.00M	6.80M	7.80M	8.70M	9.20M	9.90M	13.10M	16.50M	17.90M	19.10M	19.94M	22.21M	27.84M	27.57M	29.41M	30.24M	30.20M	31.64M	20.64M	-40.76M	6.91M	25.25M	45.12M	44.53M	60.16M	65.38M	81.05M	96.07M	159.14M	164.46M	148.60M	205.53M	222.09M	223.79M	201.40M	226.00M
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%
Interest Expense	-	-	27.50M	28.20M	26.60M	20.70M	16.50M	16.10M	22.10M	32.40M	41.40M	44.50M	46.90M	60.55M	56.07M	53.76M	52.39M	51.59M	66.08M	98.51M	117.61M	90.09M	77.09M	56.01M	37.89M	23.61M	16.57M	21.84M	24.79M	26.84M	37.61M	69.09M	108.75M	66.38M	35.95M	84.80M	348.49M	426.89M	388.78M
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: USD	1987-12-31	1988-12-31	1989-12-31	1990-12-31	1991-12-31	1992-12-31	1993-12-31	1994-12-31	1995-12-31	1996-12-31	1997-12-31	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: USD	1987-12-31	1988-12-31	1989-12-31	1990-12-31	1991-12-31	1992-12-31	1993-12-31	1994-12-31	1995-12-31	1996-12-31	1997-12-31	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Assets	-	-	522.80M	541.10M	596.60M	616.90M	626.10M	644.60M	707.90M	968.00M	1.02B	1.36B	1.47B	1.62B	1.79B	2.68B	3.08B	3.19B	3.24B	3.55B	3.78B	4.78B	4.48B	4.17B	4.17B	4.30B	5.44B	5.82B	6.76B	7.21B	9.37B	9.88B	12.46B	14.07B	15.45B	17.94B	18.41B	18.31B	19.03B
Total Liabilities	-	-	474.60M	489.80M	538.10M	553.00M	557.30M	573.60M	627.40M	855.30M	898.10M	1.21B	1.35B	1.47B	1.61B	2.42B	2.77B	2.88B	2.92B	3.23B	3.44B	4.39B	4.02B	3.72B	3.66B	3.75B	4.80B	5.10B	5.91B	6.31B	8.06B	8.48B	10.67B	12.19B	13.54B	15.90B	16.16B	16.01B	16.56B
Total Equity	-	-	48.20M	51.30M	58.50M	63.90M	68.80M	71.00M	80.50M	112.70M	122.00M	153.90M	126.30M	156.06M	179.13M	261.13M	303.96M	314.60M	313.40M	327.32M	339.94M	395.90M	463.79M	454.41M	514.47M	552.24M	634.92M	726.83M	850.51M	901.66M	1.30B	1.41B	1.79B	1.88B	1.91B	2.03B	2.25B	2.30B	2.47B
Cash	-	-	62.90M	43.80M	48.80M	55.20M	26.90M	46.40M	69.10M	35.30M	42.60M	36.50M	60.60M	53.45M	72.61M	91.21M	85.25M	79.30M	79.17M	101.24M	159.61M	123.07M	150.83M	116.06M	126.16M	139.90M	164.50M	166.14M	134.49M	152.39M	189.93M	176.21M	295.46M	585.20M	641.30M	248.66M	548.73M	386.51M	84.16M
Total Debt	-	-	63.00M	56.20M	49.10M	37.10M	46.90M	39.20M	35.00M	54.20M	47.50M	113.70M	189.90M	163.58M	174.40M	356.93M	383.17M	440.89M	508.24M	440.76M	568.77M	618.35M	450.23M	419.00M	489.37M	367.09M	523.26M	411.99M	568.54M	694.20M	834.39M	670.96M	732.70M	684.91M	634.25M	1.31B	1.03B	1.16B	999.93M
Net Debt	-	-	100.00K	12.40M	300.00K	-18.10M	20.00M	-7.20M	-34.10M	18.90M	4.90M	77.20M	129.30M	110.14M	101.79M	265.72M	297.92M	361.59M	429.07M	339.52M	409.16M	495.28M	299.40M	302.94M	363.21M	227.19M	358.76M	245.86M	434.06M	541.81M	644.46M	494.75M	437.24M	99.71M	-7.05M	1.07B	480.05M	771.68M	915.78M

Cash Flow

Currency: USD	1989-12-31	1990-12-31	1991-12-31	1992-12-31	1993-12-31	1994-12-31	1995-12-31	1996-12-31	1997-12-31	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31

Currency: USD	1989-12-31	1990-12-31	1991-12-31	1992-12-31	1993-12-31	1994-12-31	1995-12-31	1996-12-31	1997-12-31	1998-12-31	1999-12-31	2000-12-31	2001-12-31	2002-12-31	2003-12-31	2004-12-31	2005-12-31	2006-12-31	2007-12-31	2008-12-31	2009-12-31	2010-12-31	2011-12-31	2012-12-31	2013-12-31	2014-12-31	2015-12-31	2016-12-31	2017-12-31	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Operating Cash Flow	7.60M	7.80M	9.50M	10.70M	11.30M	12.50M	11.80M	16.80M	19.30M	19.40M	25.70M	29.79M	31.21M	17.70M	65.67M	39.95M	46.49M	36.28M	49.61M	39.01M	17.61M	81.05M	85.48M	70.27M	183.13M	75.84M	56.66M	103.72M	126.50M	180.24M	178.41M	204.81M	207.38M	268.05M	258.83M	266.21M	283.65M
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	-31.91M	27.47M	-100.52M	-103.77M	-163.83M	-65.19M	-298.00M	-197.58M	-140.19M	258.49M	109.85M	-28.16M	11.89M	-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 Flow	26.20M	12.30M	900.00K	12.90M	300.00K	11.40M	50.00M	13.90M	51.10M	161.70M	97.00M	-14.70M	-23.12M	98.83M	28.59M	84.31M	19.15M	281.26M	192.69M	116.98M	-247.44M	-311.74M	-42.32M	-54.01M	-36.99M	59.33M	267.29M	370.74M	535.81M	379.68M	865.95M	1.36B	1.24B	133.84M	75.65M	-38.82M	486.72M
Capital Expenditure	700.00K	500.00K	1.10M	1.40M	2.60M	1.20M	2.10M	2.10M	2.60M	5.20M	3.70M	4.41M	2.44M	4.85M	0	0	0	0	0	0	0	0	0	108.63M	53.89M	146.03M	325.37M	0	432.06M	0	312.44M	0	64.27M	0	0	0	0
Free Cash Flow	6.90M	7.30M	8.40M	9.30M	8.70M	11.30M	9.70M	14.70M	16.70M	14.20M	22.00M	25.38M	28.77M	12.84M	65.67M	39.95M	46.49M	36.28M	49.61M	39.01M	17.61M	81.05M	85.48M	70.27M	183.13M	75.84M	56.66M	103.72M	126.50M	180.24M	-134.03M	204.81M	143.11M	268.05M	258.83M	266.21M	283.65M
Dividends Paid	2.00M	2.20M	2.60M	2.90M	3.20M	3.60M	3.90M	5.40M	7.10M	7.90M	9.80M	10.33M	11.13M	13.99M	16.56M	17.05M	16.98M	16.95M	16.85M	16.77M	14.25M	5.92M	4.73M	7.44M	7.99M	10.69M	15.65M	22.20M	31.82M	41.66M	51.28M	56.54M	61.23M	74.15M	81.94M	83.50M	84.79M
FCF to OCF	90.79%	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 FCF	28.99%	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 Date	Feb 24, 2025	May 1, 2025	Jul 23, 2025
EPS Estimate	0.00	0.00	-
EPS Actual	1.10	0.94	0.98
Surprise	-	-	-
Timing	-	-	Pre-market

Key Statistics & Ratios

Market Cap2.42B

Enterprise Value2.59B

Trailing P/E6.62

Forward P/E0.00

Price / Sales0.00

Price / Book0.00

EPS3.81

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 Outstanding0

Shares Float61.57M

Beta0.85

Dividend Yield7.44%

Dividend Rate1.88

Payout Ratio0.00%

Dividends

20264×

0.47Oct 30, 20260.47Jul 30, 20260.47Apr 30, 20260.47Jan 30, 2026

20254×

0.47Oct 31, 20250.47Jul 30, 20250.47Apr 30, 20250.47Jan 31, 2025

20244×

0.47Oct 31, 20240.47Jul 30, 20240.47Apr 29, 20240.47Jan 30, 2024

20234×

0.47Oct 30, 20230.47Jul 28, 20230.47Apr 27, 20230.47Jan 30, 2023

20224×

0.47Oct 28, 20220.47Jul 28, 20220.47Apr 28, 20220.47Jan 28, 2022

20214×

0.47Oct 28, 20210.47Jul 29, 20210.47Apr 29, 20210.47Jan 28, 2021