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Stock impact report

First Merchants Corporation Announces First Quarter 2020 Earnings per Share

First Merchants Corporation (FRME) 
Last first merchants corporation earnings: 4/23 08:00 am Check Earnings Report
Company Research Source: GlobeNewswire
MUNCIE, Ind., April 23, 2020 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ - FRME) has reported first quarter 2020 net income of $34.3 million compared to $38.8 million during the same period in 2019.  Earnings per share for the period totaled $.62 per share compared to the first quarter of 2019 result of $.78 per share. Total assets equaled $12.7 billion as of quarter-end and loans totaled $8.6 billion.  The Corporation’s loan portfolio increased by $1.3 billion, or 17.9 percent, during the past twelve months.  Total deposits equaled $9.9 billion as of quarter-end and increased by $1.8 billion, or 22.6 percent over the same period in 2019.  Of the increases, our acquisition of Monroe Bank & Trust (“MBT”), which closed on September 1, 2019, accounted for $733 million of loan growth and $1.1 billion of deposit growth.  The resulting loan-to-deposit ratio of 87.2 percent and loan-to-asset ratio of 67.8 percent provides for fortress balance sheet levels of liquidity. The Co Show less Read more
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