First Merchants Q3 GAAP EPS $0.84; adjusted EPS $0.95, up from $0.94 a year ago

FIRST MERCHANTS CORP

2024-Q3 EPS reported $2.31

Net income available to common $48.7M; diluted EPS $0.84 vs $0.94 in Q3 2023.
Adjusted net income $55.6M or $0.95 per share, excluding $9.1M pre-tax securities repositioning loss.
Net interest margin expanded 7 bps sequentially to 3.23%; loans grew $15.5M linked quarter.
Signed agreement to sell five Illinois branches; $287.7M deposits and $9.2M loans classified as held for sale.
Nonperforming assets to total assets 35 bps, stable linked quarter; CET1 ratio 11.25%.

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