Welcome to our dedicated page for First Merchants news (Ticker: FRME), a resource for investors and traders seeking the latest updates and insights on First Merchants stock.
First Merchants Corporation reports developments for a financial holding company built around First Merchants Bank, its single full-service bank charter, and First Merchants Private Wealth Advisors. News commonly covers community banking results, deposit and loan activity, investment securities, mortgage lending, cash management, wealth management, and capital actions involving common stock and Series A preferred depositary shares.
Company updates also include board and executive governance matters, cash dividend declarations, earnings-call materials, digital banking partnerships, and completed acquisition activity such as the First Savings Financial Group merger that expanded its southern Indiana presence.
First Merchants Corporation announced the election of Kevin D. Johnson and Jason R. Sondhi to its Board of Directors on June 23, 2022. Johnson, CEO of the Detroit Economic Growth Corporation, has a strong background in economic development, while Sondhi, founder of Sondhi Solutions, brings extensive experience in IT staffing and consulting. Their additions expand the board to 14 members, with 12 being independent directors. Both will be up for election at the Annual Shareholder Meeting in May 2023. Their expertise is expected to enhance First Merchants' leadership and operational strategy.
First Merchants Corporation (NASDAQ: FRME) has appointed Patrick J. Fehring to its Boards of Directors following the merger with Level One Bancorp in April. Fehring, who previously served as President and CEO of Level One Bank since its inception in 2007, brings 27 years of experience from Fifth Third Bancorp. Board Chairman Charles E. Schalliol and CEO Mark K. Hardwick expressed confidence in Fehring's expertise and commitment to community service, highlighting his potential to contribute positively to the company’s growth trajectory.
First Merchants Corporation (NASDAQ: FRME) declared a cash dividend of $0.32 per share on May 10, 2022. This dividend is set to be paid on June 17, 2022, to shareholders on record as of June 3, 2022. The ex-dividend date for this cash dividend is June 2, 2022, allowing investors to know when they need to own shares to receive the payout. The company operates under one full-service banking charter and is based in Muncie, Indiana.
First Merchants Corporation (NASDAQ: FRME) reported a net income of $48.6 million for Q1 2022, consistent with $49.5 million in Q1 2021, with diluted earnings per share of $0.91. Total loans, excluding PPP loans, grew by $165 million (7.2%) and deposits increased by $173.4 million (5.4%) from the previous quarter. The bank completed its acquisition of Level One Bancorp on April 1, 2022. Non-interest income rose to $25.9 million, while non-interest expense increased 9.4% to $72.3 million. The loan to deposit ratio is 73%, and total assets reached $15.5 billion as of March 31, 2022.
First Merchants Corporation has declared a quarterly cash dividend of $0.4688 per depositary share on its 7.50% Non-Cumulative Perpetual Preferred Stock, Series A. This dividend will be payable on May 15, 2022, to stockholders of record on April 30, 2022. The preferred shares are represented by depositary shares traded on NASDAQ under the symbol FRMEP. First Merchants Corporation, a financial holding company headquartered in Muncie, Indiana, operates under the common stock symbol FRME.
First Merchants Corporation (NASDAQ:FRME) is set to announce its first quarter 2022 financial results on April 26, 2022. The earnings conference call will take place at 10:00 a.m. ET, earlier than previously scheduled. The call can be accessed by dialing (Toll Free) 877-806-2932 and using Conference ID 6838926, with international callers using +1 478-219-0639. A webcast and presentation slides will be available on their website, with a replay accessible until April 26, 2023.
First Merchants Corporation (NASDAQ: FRME) is set to report its first quarter 2022 financial results on April 26, 2022. A conference call will be held at 2:30 p.m. (ET) on the same day for investors and analysts to discuss the results. Participants can join the call using Toll-Free number 877-806-2932 or +1 478-219-0639 for international callers. The earnings presentation will be accessible via a webcast with slides available for viewing. A replay will be available until April 26, 2023.
First Merchants Corporation (NASDAQ: FRME) has completed its merger with Level One Bancorp, LLC (NASDAQ: LEVL) on April 1, 2022, following regulatory approvals. The deal, involving a cash/stock transaction, expands First Merchants’ footprint in Michigan, with Level One Bank's 17 locations now under First Merchants' management. With combined total assets of approximately $18 billion, First Merchants retains its status as Indiana's second-largest financial holding company. The merger is anticipated to enhance customer service and community engagement.
First Merchants Corporation has declared a cash dividend of $0.29 per share on February 8, 2022. This dividend is set for payment on March 18, 2022, to shareholders recorded as of March 4, 2022. For trading purposes, the ex-date is March 3, 2022. This announcement reinforces the company’s commitment to returning value to its shareholders.
First Merchants Corporation (NASDAQ - FRME) reported a fourth quarter 2021 net income of $47.7 million, up from $45.1 million year-over-year. Full-year net income reached $205.5 million, compared to $148.6 million in 2020. Earnings per share for the fourth quarter was $.89, increasing from $.83 in 2020, with full-year earnings at $3.81 versus $2.74. Total assets were $15.5 billion, with loans at $9.3 billion. The bank's investments increased by 43.8% to $4.5 billion, while total deposits grew 12.1% to $12.7 billion.