secwatch.observer — SEC 8-K summary
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Issuer:     FIRST MERCHANTS CORP (FRME)
CIK:        0000712534
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0000712534-24-000039
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712534/000071253424000039/0000712534-24-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712534/000071253424000039/frme-20240125.htm
  HTML page:      https://secwatch.observer/filing/0000712534-24-000039

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