---
schema_version: "secwatch.filing_event.v1"
accession: "0000712534-24-000039"
form_type: "8-K"
ticker: "FRME"
cik: "0000712534"
company_name: "FIRST MERCHANTS CORP"
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:44:24.205269+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Merchants Q4 net income $42M ($0.71 EPS); one-time charges $12.7M; core EPS $0.87

## Summary
- Net income available to common stockholders $42.0M, diluted EPS $0.71, vs $0.94 in Q3 2023 and $1.19 in Q4 2022.
- One-time charges of $12.7M: FDIC special assessment $4.3M, employee severance/early retirement $6.3M, lease termination $2.1M; adjusted EPS $0.87.
- Total loans grew $202.6M (6.6% annualized linked quarter); total deposits increased $174.9M (4.8% annualized linked quarter).
- Net interest margin (tax-equivalent) 3.16%, down 13 bps QoQ; efficiency ratio 63.26% (55.56% adjusted).
- Common equity Tier 1 ratio 11.35%; tangible common equity ratio 8.44%, up 75 bps from prior quarter.

## SEC filing metadata
- accession: 0000712534-24-000039
- form_type: 8-K
- ticker: FRME
- cik: 0000712534
- company_name: FIRST MERCHANTS CORP
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/712534/000071253424000039/0000712534-24-000039-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/712534/000071253424000039/frme-20240125.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000712534-24-000039
- JSON: https://secwatch.observer/filing/0000712534-24-000039.json
- Plain text: https://secwatch.observer/filing/0000712534-24-000039.txt

## Key facts
- Earnings Releases
  FIRST MERCHANTS CORP reported fourth quarter ended December 31, 2023 results: net income $42.0 million, EPS $0.71 per share.
  - Period: fourth quarter ended December 31, 2023
  - Net income: $42.0 million
  - EPS: $0.71 per share
  - Result: reported results
  source text: First Merchants Corporation (the “Corporation) has reported fourth quarter 2023 net income available to common stockholders of $42.0 million compared to $70.3 million during the same period in 2022. Diluted earnings per common share for the period totaled $0.71 per share compared to the fourth quarter of 2022 result of $1.19 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/712534/000071253424000039/0000712534-24-000039-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.