First Merchants Q4 net income $63.9M; adjusted EPS $1.00; completes Illinois branch sale

FIRST MERCHANTS CORP

2024-FY EPS reported $3.41

GAAP diluted EPS $1.10; adjusted EPS $1.00 versus $0.90 in Q4 2023.
Net interest margin 3.28%, up 12 bps YoY; loans grew $185.6M linked quarter (5.9% annualized).
Sold five Illinois branches and certain loans & deposits to Old Second National Bank on Dec 6, 2024; gain of $20.0M.
Restructured AFS securities: sold $109.6M (2.31% yield) during Q4; full-year 2024 sales $268.5M, total loss $20.8M.
Nonperforming assets 43 bps of total assets (up from 35 bps linked quarter); CET1 ratio 11.43%.

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