First Merchants Corporation Announces Third Quarter 2026 Results
Key Highlights
- ➤Net income $67.8M; diluted EPS $1.09 versus $0.98 a year earlier
- ➤Net interest margin 3.44%, up 6 basis points linked quarter
- ➤Deposits increased $175.6M, or 4.2% annualized, linked quarter
- ➤Completed $100 million subordinated debt issuance in late September
- ➤Mike Stewart will succeed Mark Hardwick as CEO upon year-end 2026 retirement
Expert Statements
Mark Hardwick, Chief Executive Officer of First Merchants Corporation
“First Merchants delivered strong third quarter results. Earnings per diluted share were $1.09, up 11 percent from the third quarter of last year, fully taxable equivalent net interest margin(1) rose 6 basis points to 3.44 percent, and deposit growth was solid.”
Mark Hardwick, Chief Executive Officer of First Merchants Corporation
“We made meaningful progress resolving the two commercial credits identified last quarter, and nonperforming assets remained stable. Our capital position remains very strong and we continue to return capital to shareholders through dividends and share repurchases.”
Mark Hardwick, Chief Executive Officer of First Merchants Corporation
“As I approach my retirement at year-end, I am grateful to our 2,200 teammates for their dedication and to our clients and shareholders for the trust they have placed in us during my 29 years with First Merchants. I have great confidence in Mike Stewart and our leadership team, and I believe First Merchants is well positioned for continued success as they build on our Midwestern strength, deepen our client relationships and continue helping the communities we serve prosper.”
MUNCIE, Ind., Oct. 21, 2026 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ - FRME) (the "Corporation" or "First Merchants")
Third Quarter 2026 Highlights: * Net income available to common stockholders was $67.8 million, or $1.09 per diluted common share, compared with $43.5 million, or $0.70 per diluted common share, in the second quarter of 2026 and $56.3 million, or $0.98 per diluted common share in the third quarter of 2025. * Adjusted pre-tax, pre-provision income(1) of $83.7 million, compared to $84.6 million in the prior quarter and $70.5 million in the third quarter of 2025. * Net interest margin on a fully taxable equivalent basis(1) of 3.44%, up 6 basis points from the prior quarter and up 20 basis points from the third quarter of 2025. * Loan growth of $70.2 million, or 1.8% annualized, on a linked quarter basis.
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