secwatch.observer — SEC 8-K summary
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Issuer:     FIRST MERCHANTS CORP (FRME)
CIK:        0000712534
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0000712534-23-000122
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712534/000071253423000122/0000712534-23-000122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712534/000071253423000122/frme-20230425.htm
  HTML page:      https://secwatch.observer/filing/0000712534-23-000122

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