Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 240

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 240
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 8 9,165 Acquisition-related expenses276 — — 276 — Non-core expenses (1),(2)633 — — 633 3,481 Tax on adjustments(220)— (2,220)(222)(3,081)Adjusted net income available to common stockholders (non-GAAP)$56,986 $56,364 $55,613 $168,225 $145,212 Average diluted common shares outstanding (in thousands)57,448 57,773 58,289 57,817 58,629 Diluted earnings per common share (GAAP)$0.98 $0.98 $0.84 $2.90 $2.31 Adjustments:Net realized losses on sales of available for sale securities— — 0.15 — 0.16 Non-core expenses (1),(2)0.01 — — 0.01 0.06 Tax on adjustments— — (0.04)— (0.05)Adjusted diluted earnings per common share (non-GAAP)$0.99 $0.98 $0.95 $2.91 $2.48 (1) Non-core expenses in the three and nine months ended September 30, 2025 included $0.6 million of severance costs.(2) Non-core expenses in the nine months ended September 30, 2024 included $2.4 million from duplicative online banking conversion costs and $1.1 million from the FDIC special assessment.

NET INTEREST INCOME (FTE) AND NET INTEREST MARGIN (FTE) (NON-GAAP)(Dollars in Thousands, Except Per Share Amounts)Three Months EndedNine Months EndedSeptember 30,September 30,September 30,September 30,2025202420252024Net 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