First Merchants Q3 net income $55.9M; EPS $0.94, down from $1.08 YoY

FIRST MERCHANTS CORP

2023-Q3 EPS reported $3.03

Net income available to common $55.9M, diluted EPS $0.94 vs $1.08 in Q3 2022.
Total loans grew $4.9M linked quarter; deposits up $65.4M; loan/deposit ratio 84.0%.
Net interest margin 3.29%, down 10bps QoQ; net interest income $133.4M, down 4.9% YoY.
Net charge-offs $20.4M from fraud-related charge-off; provision expense $2.0M.
Common equity Tier 1 ratio 11.26%; strong capital position.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST MERCHANTS CORP reported the third quarter ended September 30, 2023 results: net income $55.9 million, EPS $0.94 per share.

Period: the third quarter ended September 30, 2023
Net income: $55.9 million
EPS: $0.94 per share
Result: reported results

Exact text from the filing

First Merchants Corporation issued a press release to report its financial results for the third quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0000712534-23-000289

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