Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 238

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 238
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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 2,945 Tangible net income available to common stockholders (non-GAAP)57,551 40,855 113,627 89,873 Preferred stock dividend469 469 938 938 Tangible net income (non-GAAP)$58,020 $41,324 $114,565 $90,811 Per Share Data:Diluted net income per common share (GAAP)$0.98 $0.68 $1.92 $1.48 Diluted tangible net income per common share (non-GAAP)$1.00 $0.70 $1.96 $1.53 Ratios:Return on average capital (GAAP)9.63 %7.16 %9.51 %7.82 %Return on average tangible capital (non-GAAP)14.49 %11.29 %14.30 %12.26 %Return on average assets (GAAP)1.23 %0.87 %1.22 %0.96 %Return on average tangible assets (non-GAAP)1.31 %0.94 %1.29 %1.03 %

Return on average tangible capital is tangible net income available to common stockholders (annualized) expressed as a percentage of average tangible capital.  Return on average tangible assets is tangible net income available to common stockholders (annualized) expressed as a percentage of average tangible assets.

EFFICIENCY RATIO  (NON-GAAP)(Dollars in Thousands)Three Months Ended June 30,Six Months