Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 243

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 243
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.84 $2.90 $2.31 Diluted tangible net income per common share (non-GAAP)$1.00 $0.86 $2.96 $2.39 Ratios:Return on average stockholders' equity (GAAP)9.51 %8.66 %9.51 %8.10 %Return on average tangible common stockholders' equity (non-GAAP)14.21 %13.39 %14.27 %12.64 %Return on average assets (GAAP)1.22 %1.07 %1.22 %0.99 %Return on average tangible assets (non-GAAP)1.29 %1.15 %1.29 %1.07 %

Return on average tangible common stockholders' equity is tangible net income (annualized) expressed as a percentage of average tangible common stockholders' equity.  Return on average tangible assets is tangible net income (annualized) expressed as a percentage of average tangible assets.

EFFICIENCY RATIO  (NON-GAAP)(Dollars in Thousands)Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Noninterest expense (GAAP)$96,561 $94,629 $283,061 $282,977 Less:  Intangible asset amortization(1,499)(1,772)(4,530)(5,500)Less:  Other real estate owned and foreclosure expenses(121)(942)(750)(1,849)Adjusted noninterest expense (non-GAAP)$94,941 $91,915 $277,781 $275,628 Net interest income (GAAP)$133,665 $131,110 $396,949 $386,744 Plus:  FTE adjustment6,209 5,883 18,535 17,538 Net interest income (FTE) (non-GAAP)$139,874 $136,993 $415,484 $404,282 Noninterest income (GAAP)$32,477 $24,866 $93,828 $82,838 Less:  Net realized losses on sales of available for sale securities— 9,114 8 9,165 Adjusted noninterest income (non-GAAP)$32,477 $33,980