| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 157.13 | 2.0% |
| Total Income | 157.13 | 2.0% |
| Expenditure | 130.05 | 33.9% |
| PBT | 27.09 | 57.1% |
| Net Profit | 28.16 | 49.1% |
| OPM | 17.24% | 22.19pp |
| NPM | 17.92% | 16.60pp |
| EPS | 0.46 | 51.6% |
First Merchants Reports Q1 2026 Net Income of $27.7 Million
23 Apr 2026 · 23 Apr, 1:49 am
Summary
First Merchants Corporation reported a net income of $27.7 million for the first quarter of 2026. The quarter's results included acquisition costs of $17.0 million and a mark-to-market loss of $29.8 million on mortgage loans. Excluding these non-core charges, adjusted earnings per common share for the first quarter of 2026 totaled $1.03, an increase of 9.6% compared to the prior year period. The acquisition of First Savings Financial Group was completed, adding $2.4 billion in assets.
Key Highlights
- 1
First Merchants' net income available to common stockholders was $27.7 million, or $0.45 per diluted share, for the first quarter of 2026.
- 2
Adjusted net income totaled $63.1 million, or $1.03 per diluted share, compared to $56.4 million in the prior quarter.
- 3
The legal closing on the acquisition of First Savings Financial Group, Inc. was completed on February 1, 2026.
- 4
The company repurchased 708,856 shares totaling $27.6 million of common stock year-to-date, including $24.9 million in Q1.
- 5
Loans increased $768.0 million, or 5.9%, during the last twelve months, excluding $1.8 billion of loans added from the First Savings acquisition.
- 6
Deposits increased $333.5 million, or 2.3%, during the last twelve months, excluding $1.7 billion of deposits added from the First Savings acquisition.
- 7
Net interest income for the quarter increased $21.0 million, or 16.1%, compared to the first quarter of 2025.
Management Comments
Mark Hardwick
"First Merchants delivered a strong start to 2026, highlighted by solid adjusted earnings growth, expanding net interest margin, and continued strength in commercial loan production," said Mark Hardwick, Chief Executive Officer. "We successfully closed the acquisition of First Savings, adding $2.4 billion in assets and further strengthening our statewide Indiana presence while enhancing our ability to serve clients across Indiana, Ohio, and Michigan. Our capital, liquidity, and credit quality remain very strong, positioning us well for continued growth and long-term shareholder value creation."
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