Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 194

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 194
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 EARNINGS PER COMMON SHARE - (NON-GAAP)(Dollars in Thousands, Except Per Share Amounts)Three Months EndedNine Months EndedSeptember 30,June 30,September 30,September 30,September 30,20252025202420252024Net income available to common stockholders (GAAP)$56,297 $56,363 $48,719 $167,530 $135,647 Adjustments:Net realized losses on sales of available for sale securities— 1 9,114 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 30,202520242025