First Merchants Corporation Announces Third Quarter 2024 Earnings per Share
First Merchants Corporation (FRME)
Last first merchants corporation earnings: 4/23 08:00 am
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US:NASDAQ Investor Relations:
firstmerchants.com/news/2017/07/17/general/first-merchants-corporation-completes-its-merger-with-independent-alliance-banks-inc.
Company Research
Source: GlobeNewswire
MUNCIE, Ind., Oct. 24, 2024 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ - FRME) Third Quarter 2024 Highlights: Net income available to common stockholders was $48.7 million and diluted earnings per common share totaled $0.84, compared to $55.9 million and $0.94 in the third quarter of 2023, and $39.5 million and $0.68 in the second quarter of 2024. Excluding the loss from repositioning of the available for sale securities portfolio, adjusted net income was $55.6 million or $0.95 per share for the third quarter of 2024.Strong capital position with Common Equity Tier 1 Capital Ratio of 11.25% and Tangible Common Equity to Tangible Assets Ratio of 8.76%.Net interest margin was 3.23% compared to 3.16% on a linked quarter basis.Total loans grew $15.5 million, or 0.5% annualized, on a linked quarter basis, and $385.1 million, or 3.1% during the last twelve months.Total deposits grew by $83.7 million, or 2.3% annualized, on a linked quarter basis after normalizing for $287.
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- First Merchants Co. (NASDAQ: FRME) had its price target lowered by analysts at Piper Sandler from $50.00 to $47.00. They now have an "overweight" rating on the stock.MarketBeat
- First Merchants Third Quarter 2024 Earnings: Misses Expectations [Yahoo! Finance]Yahoo! Finance
- First Merchants (FRME) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates [Yahoo! Finance]Yahoo! Finance
FRME
Earnings
- 10/24/24 - Beat
FRME
Analyst Actions
- 8/28/24 - Keefe, Bruyette & Woods
FRME
Sec Filings
- 11/20/24 - Form 4
- 11/15/24 - Form 4
- 11/13/24 - Form 8-K
- FRME's page on the SEC website