secwatch.observer — SEC 8-K summary
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Issuer:     FIRST MERCHANTS CORP (FRME)
CIK:        0000712534
Form:       8-K
Filed at:   2025-01-30T23:59:59+00:00
Accession:  0000712534-25-000041
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/712534/000071253425000041/0000712534-25-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/712534/000071253425000041/frme-20250130.htm
  HTML page:      https://secwatch.observer/filing/0000712534-25-000041

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer