First Merchants Q2 net income $39.5M, EPS $0.68 vs $1.02 YoY; provision up on charge-offs

FIRST MERCHANTS CORP

2024-Q2 EPS reported $1.48

Diluted EPS $0.68, down from $1.02 in Q2 2023 and $0.80 in Q1 2024.
Net interest margin 3.16%, up 6 bps linked quarter but down 23 bps YoY.
Loans grew $191M (6.1% annualized) linked quarter; deposits fell $315M (8.5% annualized).
Net charge-offs $39.6M; provision expense $24.5M, driving performance weakness per CEO.
Nonperforming assets to total assets 0.36%, improving slightly from 0.37% prior quarter.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.