Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 165

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 165
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 a complete discussion of our significant accounting policies, see “Notes to the Consolidated Financial Statements” in our Annual Report on Form 10-K for the year ended December 31, 2024.

38

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

FINANCIAL HIGHLIGHTS

The table below includes certain financial data of the Corporation for the previous five quarters: 

Three Months EndedDollars in Thousands, Except Per Share AmountsMarch 31,December 31,September 30,June 30,March 31,20252024202420242024Income Statement:Net interest income$130,270 $134,370 $131,110 $128,571 $127,063 Provision for credit losses4,200 4,200 5,000 24,500 2,000 Noninterest income30,048 42,742 24,866 31,334 26,638 Noninterest expense92,902 96,289 94,629 91,413 96,935 Net income available to common shareholders54,870 63,880 48,719 39,456 47,472 Per Share Data:Average diluted common shares outstanding (in thousands)58,242 58,247 58,289 58,328 59,273 Diluted net income available to common stockholders$0.94 $1.10 $0.84 $0.68 $0.80 Cash dividends paid to common stockholders0.35 0.35 0.35 0.35 0.34 Common dividend payout ratio (1)37.23 %32.11 %41.67 %51.47 %42.50 %Book value per share$39.91 $39.32 $39.18 $37.68 $37.56 Tangible common book value per share (2)27.34 26.78 26.64 25.10 25.07 Performance Ratios:Return on average assets1.21 %1.39 %1.07 %0.87 %1.04 %Return on average stockholders' equity9.38 11.05 8.66 7.16 8.47 Return