secwatch.observer — SEC 8-K summary
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Issuer:     FIRST MERCHANTS CORP (FRME)
CIK:        0000712534
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0000712534-23-000189
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Merchants Q2 EPS $1.02; loans grow 5.4% annualized ex-sales; NIM contracts 19 bps
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- Net income available to common $60.4M, diluted EPS $1.02; adjusted EPS $1.02 flat YoY.
- Total loans $12.3B, up $163.2M (5.4% annualized) excluding $116.6M commercial loan sale.
- NIM (tax-equiv) 3.39%, down 19 bps linked quarter; net interest income $137.8M, down 6.3M from Q1.
- Nonaccrual loans $69.2M, up from $46.6M linked quarter; no provision expense recorded.
- Deposits declined $122.1M (3.3% annualized) to $14.6B; loan-to-deposit ratio 84.3%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712534/000071253423000189/0000712534-23-000189-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712534/000071253423000189/frme-20230725.htm
  HTML page:      https://secwatch.observer/filing/0000712534-23-000189

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