First Merchants Corporation (FRME) Financial Statements (2024 and earlier)

Company Profile

Business Address 200 E JACKSON ST
MUNCIE, IN 47308-0792
State of Incorp. IN
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments248,655641,300585,201177,201139,247154,905
Cash and cash equivalents248,655641,300585,201177,201139,247154,905
Total current assets:248,655641,300585,201177,201139,247154,905
Noncurrent Assets
Operating lease, right-of-use asset 23,61917,81818,24720,747
Property, plant and equipment117,118105,655111,062113,05593,42095,852
Intangible assets, net (including goodwill)747,844570,860572,893578,880469,784476,503
Goodwill712,002545,385543,918543,918445,355445,355
Intangible assets, net (excluding goodwill)35,84225,47528,97534,96224,42931,148
Deferred income tax assets111,22235,64112,34012,165
Total noncurrent assets:999,803729,974714,542724,847563,204572,355
Other undisclosed assets16,689,84814,081,87512,767,46711,555,2069,182,2658,640,218
TOTAL ASSETS:17,938,30615,453,14914,067,21012,457,2549,884,7169,367,478
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt167,413181,577177,102187,946113,512136,623
Total current liabilities:167,413181,577177,102187,946113,512136,623
Noncurrent Liabilities
Other undisclosed liabilities15,736,12313,359,00112,014,46310,482,8718,362,9447,927,392
Total liabilities:15,903,53613,540,57812,191,56510,670,8178,476,4568,064,015
Equity
Equity, attributable to parent, including:2,034,7701,912,5711,875,6451,786,4371,408,2601,303,463
Preferred stock  125125125125125
Common stock7,3966,6766,7406,9216,1696,145
Additional paid in capital1,228,626985,8181,005,3661,054,997840,052834,870
Accumulated other comprehensive income (loss)(239,151)55,11374,83627,874(21,422)(2,908)
Retained earnings1,012,774864,839788,578696,520583,336465,231
Other undisclosed equity, attributable to parent25,125     
Total equity:2,034,7701,912,5711,875,6451,786,4371,408,2601,303,463
TOTAL LIABILITIES AND EQUITY:17,938,30615,453,14914,067,21012,457,2549,884,7169,367,478

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues119,487111,27997,88576,00160,64598,435
Gain on disposition of assets for financial service operations11,24925,36330,16612,30611,298
Net investment income108,23885,91667,71963,69549,34739,604
Financial services revenue58,831
Cost of revenue(16,755) (58,673)(2,800)(7,227)(9,143)
Provision for loan, lease, and other losses(16,755) (58,673)(2,800)(7,227)
Financial services costs(9,143)
Gross profit:102,732111,27939,21273,20153,41889,292
Operating expenses(77,243)(59,318)(56,698)(58,120)(44,413)(165,526)
Other operating income, net
(Noninterest Income, Other Operating Income)
1,9293,0081,8982,0685,1922,970
Operating income (loss):27,41854,969(15,588)17,14914,197(73,264)
Nonoperating income
(Bank Owned Life Insurance Income)
5,2104,8735,0404,5184,0203,906
Interest and debt expense(84,803)(35,952)(66,381)(108,745)(69,087)(37,612)
Income (loss) from continuing operations before equity method investments, income taxes:(52,175)23,890(76,929)(87,078)(50,870)(106,970)
Other undisclosed income from continuing operations before income taxes307,849216,900246,904280,863239,008240,564
Income from continuing operations before income taxes:255,674240,790169,975193,785188,138133,594
Income tax expense(33,585)(35,259)(21,375)(29,325)(28,999)(37,524)
Income from continuing operations:222,089205,531148,600164,460159,13996,070
Income before gain (loss) on sale of properties:205,531148,600164,460159,13996,070
Net income attributable to parent:222,089205,531148,600164,460159,13996,070
Preferred stock dividends and other adjustments(1,406)     
Net income available to common stockholders, diluted:220,683205,531148,600164,460159,13996,070

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:222,089205,531148,600164,460159,13996,070
Other comprehensive income (loss)(294,264)(19,723)46,96249,296(17,888)10,673
Comprehensive income (loss), net of tax, attributable to parent:(72,175)185,808195,562213,756141,251106,743

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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