First Merchants Q1 EPS $1.07; net income $63.6M; deposit growth 8.9% annualized

FIRST MERCHANTS CORP

2023-Q1 EPS reported $1.07

Diluted EPS of $1.07 vs $0.91 in Q1 2022; adjusted EPS also $1.07.
Net income available to common stockholders $63.6M, up 31% from $48.6M a year ago.
Total deposits grew $320.5M (8.9% annualized) linked quarter; loans up $237.9M (7.9% annualized).
Net interest margin 3.58%, down 14 bps from Q4 2022; efficiency ratio 51.72%.
Non-accrual loans $46.6M vs $42.3M linked quarter; CET1 ratio 10.82%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST MERCHANTS CORP reported first quarter ended March 31, 2023 results: net income $63.6 million, EPS $1.07.

Period: first quarter ended March 31, 2023
Net income: $63.6 million
EPS: $1.07
Result: reported results

Exact text from the filing

First Merchants Corporation (the “Corporation) has reported first quarter 2023 net income available to common stockholders of $63.6 million compared to $48.6 million during the same period in 2022. Earnings per share for the period totaled $1.07 per share compared to the first quarter of 2022 result of $.91 per share.

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Source: SEC EDGAR

accession 0000712534-23-000122

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