secwatch.observer — SEC 8-K summary
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Issuer:     FIRST MERCHANTS CORP (FRME)
CIK:        0000712534
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000712534-23-000289
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712534/000071253423000289/0000712534-23-000289-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712534/000071253423000289/frme-20231026.htm
  HTML page:      https://secwatch.observer/filing/0000712534-23-000289

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