FIRST MERCHANTS CORP

FRME

FIRST MERCHANTS CORP

FRME

Insider Sentiment (TTM):

Last Purchase:2024-12-30Last Sale:2026-06-12Shares Purchased (TTM):0Shares Sold (TTM):33,077.41

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:44,728,264Shares Outstanding:60,731,479Institutional Ownership Pct.:73.65%

Earnings Market Reaction:

Filing Date:2026-05-01Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Cash And Due From Banks	98	84	88	82	86	88	85	105	101	113	125	109
Interest Bearing Deposits In Banks	175	196	169	223	332	299	359	169	410	436	349	219
Debt Securities Available For Sale Excluding Accru…	1,372	1,407	1,387	1,358	1,378	1,386	1,553	1,619	1,620	1,627	1,500	1,651
Debt Securities Held To Maturity Excluding Accrued…	1,937	1,972	1,995	2,023	2,049	2,074	2,109	2,134	2,163	2,184	2,214	2,240
Loans Receivable Held For Sale Amount	402	20	23	29	23	19	41	32	15	19	31	27
Financing Receivable Excluding Accrued Interest Be…	15,262	13,792	13,591	13,297	13,005	12,854	12,647	12,640	12,466	12,486	12,271	12,270
Assets
Assets	21,073	19,025	18,812	18,593	18,440	18,312	18,348	18,303	18,318	18,406	17,997	17,968
Financing Receivable Allowance For Credit Loss Exc…	-213	-196	-194	-195	-192	-193	-188	-190	-205	-205	-206	-221
Financing Receivable Excluding Accrued Interest Af…	15,049	13,596	13,397	13,101	12,813	12,662	12,459	12,450	12,261	12,281	12,066	12,049
Property Plant And Equipment Net	146	121	122	123	129	130	130	133	133	134	132	114
Federal Home Loan Bank Stock	71	47	47	47	45	42	42	42	42	42	42	42
Interest Receivable	97	93	89	93	88	92	92	98	93	98	90	90
Goodwill	783	712	712	712	712	712	712	712	712	712	712	712
Intangible Assets Net Excluding Goodwill	42	14	15	17	18	20	22	23	25	27	29	31
Cash Surrender Value Of Life Insurance	371	308	307	306	305	305	305	306	306	306	306	307
Real Estate Acquired Through Foreclosure	1	1	1	0	5	5	5	5	5	5	6	8
Deferred Income Tax Assets Net	117	79	90	98	88	92	87	107	101	100	136	114
Other Assets	410	375	370	381	369	387	348	368	331	322	259	254
Liabilities
Noninterest Bearing Deposit Liabilities	3,748	2,137	2,101	2,197	2,185	2,326	2,334	2,303	2,338	2,500	2,555	2,636
Deposits
Deposits	16,486	15,295	14,870	14,798	14,462	14,522	14,365	14,569	14,885	14,821	14,647	14,581
Interest Bearing Deposit Liabilities	12,737	13,158	12,769	12,600	12,277	12,196	12,031	12,266	12,546	12,321	12,092	11,945
Federal Funds Purchased	170	40	199	85	185	99	30	147	-	0	0	0
Securities Sold Under Agreements To Repurchase	89	104	122	115	123	143	125	100	130	157	153	152
Borrowed Funds
Advances From Federal Home Loan Banks	1,299	799	799	899	972	823	833	833	613	713	713	723
Other Borrowings	86	58	58	63	63	94	94	94	119	159	159	151
Debt Longterm And Shortterm Combined Amount	1,645	1,000	1,178	1,161	1,343	1,158	1,081	1,174	862	1,029	1,025	1,027
Interest Payable Current And Noncurrent	19	18	18	16	13	16	18	19	19	19	16	14
Other Liabilities	250	245	333	270	289	311	292	329	328	289	216	201
Liabilities	18,400	16,558	16,399	16,245	16,108	16,007	16,045	16,091	16,093	16,158	15,904	15,823
Common Stock Value	8	7	7	7	7	7	7	7	7	7	7	7
Additional Paid In Capital	1,370	1,151	1,158	1,163	1,183	1,189	1,193	1,191	1,208	1,237	1,234	1,234
Stockholders Equity
Stockholders Equity	2,673	2,467	2,412	2,348	2,332	2,305	2,302	2,213	2,225	2,248	2,093	2,146
Retained Earnings Accumulated Deficit	1,419	1,414	1,378	1,342	1,307	1,273	1,229	1,201	1,182	1,155	1,133	1,097
Accumulated Other Comprehensive Income Loss Net Of…	-149	-130	-156	-190	-190	-189	-152	-212	-198	-176	-307	-218
Liabilities And Stockholders Equity	21,073	19,025	18,812	18,593	18,440	18,312	18,348	18,303	18,318	18,406	17,997	17,968
Cumulative Preferred Stock	0	0	0	0	0	0	0	0	0	0	0	0
Series A Preferred Stock	0	0	0	0	0	0	0	0	0	0	0	0
Debt Securities Held To Maturity Allowance For Cre…	0	0	0	0	0	0	0	0	0	0	0	0
Held To Maturity Securities Fair Value	1,661	1,718	1,707	1,687	1,705	1,724	1,823	1,779	1,820	1,870	1,741	1,881
Common Stock Par Or Stated Value Per Share	0.125	0.12	0.125	0.125	0.125	0.12	0.125	0.125	0.125	0.12	0.125	0.125
Common Stock Shares Authorized	100	100	100	100	100	100	100	100	100	100	100	100
Common Stock Shares Issued	63	57	57	57	58	58	58	58	59	59	59	59
Shares Outstanding	63	57	57	57	58	58	58	58	59	59	59	59

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-0.69%	1.68%	11.34%	-	-	-	-	-	-	-	-	-
2025	3.95%	1.02%	14.18%	9.50%	6.64%	-5.51%	3.05%	8.31%	7.52%	-10.27%	0.97%	-4.04%
2024	-2.52%	-6.68%	14.49%	-0.60%	-2.58%	1.42%	18.89%	11.26%	9.58%	-5.74%	-16.78%	-8.23%
2023	-0.07%	2.41%	17.88%	-8.49%	-13.89%	-15.99%	13.78%	38.20%	31.38%	0.99%	2.62%	7.77%
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Performance and Valuation Metrics

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Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Leverage & Debt
Interest Coverage TTM	-0.60	-0.52	-0.49	-0.51	-0.54	-0.11	0.33	0.90	1.60	1.74	2.04	2.44
Per Share Metrics
Diluted EPS TTM	3.22	3.88	4.06	3.90	3.59	3.44	3.08	3.20	3.50	3.76	4.23	4.36
Free Cash Flow Per Share TTM	4.62	4.94	4.73	4.52	4.64	4.57	4.55	4.61	3.90	4.36	5.61	5.10
Dividend Per Share TTM	1.40	1.44	1.44	1.43	1.41	1.40	1.40	1.40	1.37	1.35	1.33	1.31
Margin Metrics
Gross Profit Margin TTM	-1,017.85%	-1,034.69%	-1,059.85%	-1,105.25%	-1,152.03%	-1,209.24%	-1,441.17%	-1,415.14%	-1,357.14%	-1,232.05%	-837.66%	-616.41%
Operating Profit Margin TTM	632.98%	756.25%	802.30%	788.89%	732.90%	710.69%	627.90%	663.92%	760.24%	840.65%	977.83%	1,032.51%
Net Profit Margin TTM	557.72%	654.13%	692.59%	680.00%	637.15%	617.68%	558.04%	587.40%	661.62%	725.71%	831.90%	881.47%
Growth Metrics
Net Revenue Growth (1Y)	7.50%	5.08%	4.70%	4.21%	4.42%	5.74%	6.37%	7.99%	7.08%	8.69%	9.04%	9.75%
Net Income Growth (1Y)	-5.90%	11.28%	29.94%	20.63%	0.55%	-10.00%	-28.64%	-28.04%	-12.60%	0.76%	26.39%	37.95%
EPS Growth (1Y)	-10.18%	12.94%	31.96%	21.90%	2.46%	-8.47%	-27.09%	-26.60%	-12.38%	-1.98%	25.88%	37.41%
Valuation Metrics
P/E TTM	11.86	9.43	8.98	9.42	10.71	10.93	11.30	9.63	9.13	8.95	5.91	5.74
P/B TTM	0.87	0.86	0.87	0.90	0.96	0.95	0.88	0.81	0.85	0.89	0.71	0.69
P/S TTM	66.15	61.69	62.22	64.08	68.26	67.51	63.03	56.59	60.42	64.92	49.15	50.60
Market Cap	2.33B	2.11B	2.10B	2.12B	2.24B	2.20B	2.03B	1.80B	1.90B	2.00B	1.49B	1.49B
Enterprise Value	2.23B	2.03B	2.01B	2.04B	2.15B	2.11B	1.94B	1.69B	1.80B	1.89B	1.36B	1.38B
Calculated Values
Free Cash Flow TTM	280.54M	283.65M	270.44M	259.71M	269.06M	266.21M	264.32M	267.74M	230.07M	258.83M	332.82M	302.20M
Net Debt	-98.08M	-84.16M	-88.08M	-81.57M	-86.11M	-87.62M	-84.72M	-105.37M	-100.51M	-112.65M	-125.17M	-108.98M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-06-12Sale

Owner: Myers, Larry W

Title: -

Shares: 10,000

Price/Share: $42.00

Value: $420,000.00

Shares Owned: 89,751

Relationship: Director

Ownership: Direct

2026-05-05Sale

Owner: Myers, Larry W

Title: First Vice President

Shares: 0

Price/Share: $40.54

Value: $16.62

Shares Owned: 109,751

Relationship: Director,Officer

Ownership: Direct

2026-02-26Sale

Owner: Myers, Larry W

Title: First Vice President

Shares: 5,000

Price/Share: $41.50

Value: $207,500.00

Shares Owned: 109,491

Relationship: Director,Officer

Ownership: Direct

2026-02-26Sale

Owner: Myers, Larry W

Title: First Vice President

Shares: 5,000

Price/Share: $41.50

Value: $207,500.00

Shares Owned: 109,491

Relationship: Director,Officer

Ownership: Direct

2026-02-11Sale

Owner: Fluhler, Stephan

Title: Chief Information Officer

Shares: 4,161

Price/Share: $41.96

Value: $174,595.56

Shares Owned: 22,000

Relationship: Officer,Other

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-06-12	Myers, Larry W	Director	-	Direct	Sale	10,000	42.00	$420,000.00	89,751	4
2026-05-05	Myers, Larry W	Director,Officer	First Vice President	Direct	Sale	0	40.54	$16.62	109,751	4
2026-02-26	Myers, Larry W	Director,Officer	First Vice President	Direct	Sale	5,000	41.50	$207,500.00	109,491	4/A
2026-02-26	Myers, Larry W	Director,Officer	First Vice President	Direct	Sale	5,000	41.50	$207,500.00	109,491	4
2026-02-11	Fluhler, Stephan	Officer,Other	Chief Information Officer	Direct	Sale	4,161	41.96	$174,595.56	22,000	4
2026-02-06	Scurlock, Eva D.	Officer	Chief Risk Officer	Direct	Sale	3,227	42.29	$136,469.83	20,063	4
2025-11-04	Fluhler, Stephan	Officer,Other	Chief Information Officer	Direct	Sale	5,689	35.55	$202,243.95	27,753	4
2024-12-30	Halderman, Howard	Director	-	Direct	Purchase	4	41.24	$164.96	25,131	4
2024-12-16	Stewart, Michael J	Officer	President	Direct	Sale	7,248	43.73	$316,955.04	92,664	4
2024-11-08	Fehring, Patrick J.	Director	-	Indirect	Sale	26,437	43.01	$1,137,055.37	91,262	4
2024-08-09	Hardwick, Mark K	Director,Officer	Chief Executive Officer	Indirect	Sale	11,833	40.22	$475,922.05	17,749	4
2024-05-30	Fehring, Patrick J.	Director	-	Direct	Sale	23,936	32.51	$778,159.36	122,706	4
2024-03-29	Stewart, Michael J	Officer	President	Direct	Purchase	36	29.67	$1,068.12	88,952	4
2024-02-28	Fluhler, Stephan	Officer,Other	Chief Information Officer	Direct	Sale	3,193	33.17	$105,911.81	24,108	4/A
2024-02-13	Fehring, Patrick J.	Director	-	Direct	Sale	9,904	33.08	$327,624.32	122,057	4
2023-12-19	Rechin, Michael C	Director	-	Direct	Sale	10,000	37.05	$370,500.00	85,834	4
2023-12-18	Fisher, Michael J	Director	-	Direct	Purchase	1,380	36.38	$50,204.40	12,138	4
2023-12-18	Fisher, Michael J	Director	-	Direct	Purchase	1,380	36.38	$50,204.40	12,165	4/A
2023-07-28	Sondhi, Jason R	Director	-	Indirect	Purchase	458	32.17	$14,733.86	458	4
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Institutional Ownership

No data available for chart

2026-03-31

73.65%

Inst. Shares: 44,728,264

Shares Outstanding: 60,731,479

2025-12-31

101.57%

Inst. Shares: 58,361,299

Shares Outstanding: 57,456,772

2025-09-30

75.56%

Inst. Shares: 43,212,275

Shares Outstanding: 57,186,148

2025-06-30

74.58%

Inst. Shares: 42,884,592

Shares Outstanding: 57,501,593

2025-03-31

74.08%

Inst. Shares: 42,944,515

Shares Outstanding: 57,969,053

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	44,728,264	60,731,479	73.65%
2025-12-31	58,361,299	57,456,772	101.57%
2025-09-30	43,212,275	57,186,148	75.56%
2025-06-30	42,884,592	57,501,593	74.58%
2025-03-31	42,944,515	57,969,053	74.08%
2024-12-31	41,328,498	58,312,575	70.87%
2024-09-30	41,164,672	58,074,361	70.88%
2024-06-30	41,036,715	58,104,021	70.63%
2024-03-31	40,603,746	59,066,789	68.74%
2023-12-31	42,272,756	59,304,879	71.28%
2023-09-30	40,838,767	59,335,877	68.83%
2023-06-30	40,415,989	59,263,813	68.20%
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FIRST MERCHANTS CORP (FRME) — SEC Financial Statements & Analysis

FIRST MERCHANTS CORP (FRME) is a national commercial banks company, incorporated in IN. FIRST MERCHANTS CORP trades on Nasdaq as: FRME, FRMEP. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), FIRST MERCHANTS CORP reported a 7.50% year-over-year revenue growth, a Gross Profit Margin of -1017.85% (TTM), a Price-to-Sales (P/S) ratio of 66.15x (TTM), a Price-to-Book (P/B) ratio of 0.87x (TTM), at a market cap of $2.33B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 7.50%
Gross Profit Margin TTM: -1017.85%
P/S TTM: 66.15x
P/B TTM: 0.87x
Market Cap: $2.33B

Data as of 2026-03-31 · Source: SEC EDGAR

Frequently Asked Questions

What industry is FIRST MERCHANTS CORP in?

FIRST MERCHANTS CORP (FRME) operates in the National Commercial Banks industry.

What is FRME's market cap?

FIRST MERCHANTS CORP (FRME) has a market capitalization of $2.33B as of 2026-03-31.

What is FRME's P/E ratio?

FIRST MERCHANTS CORP (FRME)'s trailing twelve month P/E ratio is 11.86x as of 2026-03-31.

What exchange does FRME trade on?

FIRST MERCHANTS CORP (FRME) trades on the Nasdaq.

Where is FIRST MERCHANTS CORP incorporated?

FIRST MERCHANTS CORP is incorporated in IN.