Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 192

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 192
---
272 57,975 Book value per common share (GAAP)$40.56 $39.33 Tangible book value per common share (non-GAAP)$27.90 $26.78 

43

PART I: FINANCIAL INFORMATIONITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

TANGIBLE NET INCOME PER COMMON SHARE,  RETURN ON TANGIBLE ASSETS AND RETURN ON TANGIBLE EQUITY (NON-GAAP)(Dollars in Thousands, Except Per Share Amounts)Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Average goodwill (GAAP)$712,002 $712,002 $712,002 $712,002 Average other intangibles (GAAP)17,599 24,169 18,297 25,093 Average deferred tax on other intangibles (GAAP)(3,788)(5,191)(3,937)(5,389)Intangible adjustment (non-GAAP)$725,813 $730,980 $726,362 $731,706 Average stockholders' equity (GAAP)$2,340,010 $2,203,361 $2,340,440 $2,222,750 Average preferred stock (GAAP)(25,125)(25,125)(25,125)(25,125)Intangible adjustment (non-GAAP)(725,813)(730,980)(726,362)(731,706)Average tangible capital (non-GAAP)$1,589,072 $1,447,256 $1,588,953 $1,465,919 Average assets (GAAP)$18,508,785 $18,332,159 $18,425,723 $18,381,340 Intangible adjustment (non-GAAP)(725,813)(730,980)(726,362)(731,706)Average tangible assets (non-GAAP)$17,782,972 $17,601,179 $17,699,361 $17,649,634 Net income available to common stockholders (GAAP)$56,363 $39,456 $111,233 $86,928 Other intangible amortization, net of tax (GAAP)1,188 1,399 2,394