Trade First Merchants Corp - FRME CFD

First Merchants Company profile

About First Merchants Corporation

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. The Bank also operates First Merchants Private Wealth Advisors (a division of First Merchants Bank). The Bank includes approximately 109 banking locations in Indiana, Ohio, Michigan and Illinois. In addition to its branch network, the Company offers comprehensive electronic and mobile delivery channels to its customers. The Company operates in a single business segment, which is community banking. Through the Bank, the Company offers a range of financial services, including accepting time, savings and demand deposits; making consumer, commercial, agri-business and real estate mortgage loans; providing personal and corporate trust services; offering full-service brokerage and private wealth management; and providing letters of credit, repurchase agreements and other corporate services.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, First Merchants Corporation interest income decreased less than 1% to $446.6M. Net interest income after loan loss provision increased 7% to $410.7M. Net income before extraordinary items increased 39% to $205.5M. Net interest income after loan loss provision reflects Investment securities-Tax-exempt increase of 31% to $55.3M, Investment securities-Taxable increase of 23% to $30M.

Equity composition

Common Stock, no Par, 02/11, 50M auth., 25,864,976 o/s. Insiders owns 2.09%. Stk. Issd. 8/03, 8/02, 8/01, 5% dividends; 10/98, 10/95 & 1/93, 3-for-2 splits. Preferred Stock $1,000 Par, 600 auth., 125 shs. issd., Preferred stock Ser.A , no Par, 500K auth., 116,000 issd.