Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 237

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 237
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18,592,777 $18,311,969 Less: Intangible assets (GAAP)(728,799)(731,830)Tangible assets (non-GAAP)$17,863,978 $17,580,139 Stockholders' Equity to Assets (GAAP)12.63 %12.59 %Tangible common equity to tangible assets (non-GAAP)8.92 %8.81 %Tangible common equity (non-GAAP)$1,594,028 $1,548,028 Plus:   Tax benefit of intangibles (non-GAAP)3,614 4,263 Tangible common equity, net of tax  (non-GAAP)$1,597,642 $1,552,291 Common Stock outstanding57,272 57,975 Book value per common share (GAAP)$40.56 $39.33 Tangible book value per common share (non-GAAP)$27.90 $26.78 

43

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

TANGIBLE NET INCOME PER COMMON SHARE,  RETURN ON TANGIBLE ASSETS AND RETURN ON TANGIBLE EQUITY (NON-GAAP)(Dollars in Thousands, Except Per Share Amounts)Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Average goodwill (GAAP)$712,002 $712,002 $712,002 $712,002 Average other intangibles (GAAP)17,599 24,169 18,297 25,093 Average deferred tax on other intangibles (GAAP)(3,788)(5,191)(3,937)(5,389)Intangible adjustment (non-GAAP)$725,813 $730,980 $726,362 $731,706 Average stockholders' equity (GAAP)$2,340,010 $2,203,361 $2,340,440 $2,222,750 Average preferred stock (GAAP)(25,125)(25,125)(25,125)(25,125)Intangible adjustment (non-GAAP)(725,813)(730,980)(726,362)(731,706)Average tangible capital (non-GAAP)$1,589,