Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 195

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 195
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2024Net interest income (GAAP)$133,665 $131,110 $396,949 $386,744 FTE adjustment6,209 5,883 18,535 17,538 Net interest income (FTE) (non-GAAP)139,874 136,993 415,484 404,282 Average earning assets (GAAP)$17,282,901 $16,990,358 $17,135,301 $17,042,540 Net interest margin (GAAP)3.09 %3.09 %3.09 %3.03 %FTE adjustment0.15 %0.14 %0.14 %0.13 %Net interest margin (FTE) (non-GAAP)3.24 %3.23 %3.23 %3.16 %

TANGIBLE COMMON STOCKHOLDERS' EQUITY TO TANGIBLE ASSETS (NON-GAAP)(Dollars in Thousands, Except Per Share Amounts)September 30, 2025December 31, 2024Total stockholders' equity (GAAP)$2,412,402 $2,304,983 Less:  Preferred stock (GAAP)(25,125)(25,125)Less:  Intangible assets (GAAP)(727,300)(731,830)Tangible common stockholders' equity (non-GAAP)$1,659,977 $1,548,028 Total assets (GAAP)$18,811,629 $18,311,969 Less:  Intangible assets (GAAP)(727,300)(731,830)Tangible assets (non-GAAP)$18,084,329 $17,580,139 Stockholders' equity to assets (GAAP)12.82 %12.59 %Tangible common stockholders' equity to tangible assets (non-GAAP)9.18 %8.81 %Tangible common stockholders' equity (non-GAAP)$1,659,977 $1,548,028 Plus:  Tax benefit of intangibles (non-GAAP)3,290 4,263 Tangible common stockholders' equity, net of tax  (non-GAAP)$1,663,267 $1,552,291 Common stock outstanding57,192 57,975