---
schema_version: "secwatch.filing_event.v1"
accession: "0000712534-24-000156"
form_type: "8-K"
ticker: "FRME"
cik: "0000712534"
company_name: "FIRST MERCHANTS CORP"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:43:35.602104+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Merchants Q1 net income falls to $47.5M, EPS $0.80 from $1.07 YoY

## Summary
- Net income available to common stockholders $47.5M; diluted EPS $0.80 vs $63.6M ($1.07) in Q1 2023.
- Excluding non-core charges of $3.5M (FDIC assessment $1.1M, digital conversion $2.4M), adjusted EPS $0.85.
- Total deposits $14.9B, up $63.1M linked quarter; loans $12.5B, down $24.3M linked quarter.
- Net interest margin 3.10% (down 6 bps linked quarter); net charge-offs 7 bps annualized.
- Capital solid: CET1 ratio 11.25%; $30M share repurchases and $40M sub-debt redemption in quarter.

## SEC filing metadata
- accession: 0000712534-24-000156
- form_type: 8-K
- ticker: FRME
- cik: 0000712534
- company_name: FIRST MERCHANTS CORP
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/712534/000071253424000156/0000712534-24-000156-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/712534/000071253424000156/frme-20240425.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000712534-24-000156
- JSON: https://secwatch.observer/filing/0000712534-24-000156.json
- Plain text: https://secwatch.observer/filing/0000712534-24-000156.txt

## Key facts
- Earnings Releases
  FIRST MERCHANTS CORP reported first quarter ended March 31, 2024 results: net income $47.5 million, EPS $0.80.
  - Period: first quarter ended March 31, 2024
  - Net income: $47.5 million
  - EPS: $0.80
  - Result: reported results
  source text: First Merchants Corporation (the “Corporation) has reported first quarter 2024 net income available to common stockholders of $47.5 million compared to $63.6 million during the same period in 2023. Diluted earnings per common share for the period totaled $0.80 compared to the first quarter of 2023 result of $1.07 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/712534/000071253424000156/0000712534-24-000156-index.htm

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