First Merchants Corp Stock Price, News & Analysis

First Merchants Corporation (NASDAQ - FRME) announced its first quarter 2023 results, reporting a net income of $63.6 million and diluted earnings per share of $1.07, compared to $48.6 million and $0.91 in Q1 2022. The bank experienced significant loan growth, with total loans increasing by $2.9 billion year-over-year, bolstered by the acquisition of Level One. Deposits also rose by $1.8 billion over the same period, although organic deposit growth declined by $133.5 million. The bank's Common Equity Tier 1 Capital Ratio stood at 10.82%, indicating strong capital health. Despite a 3.3% decline in net-interest income from the previous quarter, it surged 40.9% year-over-year. The efficiency ratio was reported at 51.72%, reflecting effective cost management amidst industry challenges.

First Merchants Corporation has announced a quarterly cash dividend of $0.4688 per depositary share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A, represented by depositary shares (NASDAQ: FRMEP). This dividend will be payable on May 15, 2023, to stockholders of record as of April 30, 2023. Investors should note that each depositary share represents a 1/100th interest in a share of Series A preferred stock. The corporation, based in Muncie, Indiana, operates First Merchants Bank and offers wealth advisory services. Its common stock is traded under the ticker FRME. Stay informed about future dividend announcements and company performance.

First Merchants Corporation (Nasdaq:FRME) will release its Q1 2023 financial results on April 25, 2023. An earnings conference call is scheduled for 10:30 a.m. (ET) the same day. Interested participants can register to join via phone, receiving a unique access code. The corporation operates as a financial holding company, headquartered in Muncie, Indiana, with its primary banking services provided through First Merchants Bank. The firm also offers wealth management through First Merchants Private Wealth Advisors. The company’s stock is listed on the NASDAQ Global Select Market under the symbol FRME.

First Merchants Corporation (NASDAQ: FRME) announced a cash dividend of $0.32 per share on February 7, 2023. This dividend is available to shareholders on March 17, 2023, with a record date of March 3, 2023. The ex-dividend date for broker trading is March 2, 2023.

Headquartered in Muncie, Indiana, First Merchants operates First Merchants Bank and provides wealth advisory services. The company is dedicated to enhancing shareholder value through consistent dividend payments.

First Merchants Corporation has appointed Dr. Mung Chiang, President of Purdue University, to its Board of Directors. This move aims to enhance the bank's impact on economic growth in Indiana and surrounding states. Board Chairman Charles E. Schalliol expressed optimism about Dr. Chiang's leadership and business skills benefiting shareholders and clients. Dr. Chiang emphasized First Merchants' commitment to facilitating economic growth and client support. After this appointment, the board will consist of 15 members, 13 of whom are independent directors. Dr. Chiang will stand for election at the Annual Shareholder Meeting in May 2023.