Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 78

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 78
---
 per common share (GAAP)$41.74 $39.33 Tangible book value per common share (non-GAAP)$29.08 $26.78 

44

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

DILUTED TANGIBLE NET INCOME PER COMMON SHARE,  RETURN ON AVERAGE TANGIBLE ASSETS AND RETURN ON AVERAGE TANGIBLE COMMON STOCKHOLDERS' EQUITY (NON-GAAP)(Dollars in Thousands, Except Per Share Amounts)Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Average goodwill (GAAP)$712,002 $712,002 $712,002 $712,002 Average other intangibles (GAAP)16,075 22,388 17,548 24,185 Average deferred tax on other intangibles (GAAP)(3,458)(4,810)(3,775)(5,194)Intangible adjustment (non-GAAP)$724,619 $729,580 $725,775 $730,993 Average stockholders' equity (GAAP)$2,367,971 $2,251,546 $2,349,718 $2,232,419 Average preferred stock (GAAP)(25,125)(25,125)(25,125)(25,125)Intangible adjustment (non-GAAP)(724,619)(729,580)(725,775)(730,993)Average tangible common stockholders' equity (non-GAAP)$1,618,227 $1,496,841 $1,598,818 $1,476,301 Average assets (GAAP)$18,637,581 $18,360,580 $18,497,118 $18,374,370 Intangible adjustment (non-GAAP)(724,619)(729,580)(725,775)(730,993)Average tangible assets (non-GAAP)$17,912,962 $17,631,000 $17,771,343 $17,643,377 Net income available to common stockholders (GAAP)$56,297 $48,719 $167,530 $135,647 Other intangible amortization, net of tax (GAAP)1