First Merchants Corp (OQ:FRME)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 200 E Jackson St, PO Box 792 MUNCIE IN 47308-0792 |
| Tel: | 1-765-5217619 |
| Website: | https://ir.firstmerchants.com |
| IR: | See website |
| Key People | ||
| Michael J. Stewart President | Mark K. Hardwick Chief Executive Officer, Director | Michele M. Kawiecki Chief Financial Officer, Executive Vice President |
| Steven C. Harris Chief Human Resource Officer, Executive Vice President | John J. Martin Executive Vice President, Chief Credit Officer | Stephan H. Fluhler Senior Vice President, Chief Information Officer | Chad W. Kimball Senior Vice President, Chief Risk Officer |
| Business Overview |
| First Merchants Corporation is a financial holding company. The Company conducts banking activities through its wholly owned subsidiary, First Merchants Bank (the Bank). The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank). Through the Bank, the Company offers a broad range of financial services, including accepting time, savings, and demand deposits; making consumer, commercial, agri-business and real estate mortgage loans; providing personal and corporate trust services; offering full-service brokerage and private wealth management; and providing letters of credit, repurchase agreements and other corporate services. The Company operates through a community banking segment. The Bank includes 116 banking locations in Indiana, Ohio, Michigan, and Illinois. In addition to its branch network, the Company offers comprehensive electronic and mobile delivery channels to its customers. |
| Financial Overview |
| For the three months ended 31 March 2024, First Merchants Corp interest income increased 14% to $235.9M. Net interest income after loan loss provision decreased 13% to $125.1M. Net income applicable to common stockholders decreased 25% to $47.5M. Net interest income after loan loss provision reflects Investment securities-Tax-exempt decrease of 15% to $13.6M, Investment securities-Taxable decrease of 4% to $8.7M. |
| Employees: | 2,162 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $2,216M as of Mar 31, 2024 |
| Annual revenue (TTM): | $923.39M as of Mar 31, 2024 |
| EBITDA (TTM): | $286.90M as of Mar 31, 2024 |
| Net annual income (TTM): | $205.77M as of Mar 31, 2024 |
| Free cash flow (TTM): | N/A |
| Net Debt Last Fiscal Year: | $148.36M as of Mar 31, 2024 |
| Shares outstanding: | 58,564,819 as of Mar 31, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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