FIRST MERCHANTS CORP FRME Income Statement

First merchants corp (FRME)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
INTEREST INCOME
Loans receivable:
Taxable
388,943	382,772	371,247	362,876	354,715	342,501	327,879	310,891	285,614	263,704	241,129	223,457	216,170	210,302	202,304	194,522	187,743	180,805	178,618	176,562	173,565	172,039	166,356	155,923	147,618	142,752	140,810	145,422	148,056	146,745	147,157	146,021	146,826	149,716	156,367	163,320	0	0	0
Tax exempt
18,730	17,568	16,770	16,031	15,419	14,862	14,007	13,097	11,957	10,694	9,772	8,570	7,543	6,525	5,714	5,255	4,526	3,459	2,321	1,192	514	327	258	282	337	393	437	470	480	480	451	419	543	528	671	837	0	0	0
Investment securities:
Taxable
29,351	27,815	25,375	24,160	22,596	21,597	20,521	19,531	18,277	17,489	16,905	16,373	16,395	16,415	16,885	17,267	17,490	17,885	18,502	19,174	19,795	19,882	19,045	17,875	16,406	15,214	14,880	15,180	16,071	17,027	17,783	18,685	19,257	19,230	17,765	15,973	0	0	0
Tax exempt
34,119	31,655	29,304	27,462	26,254	25,509	24,695	23,657	22,502	21,379	20,411	19,624	19,116	18,622	18,204	17,948	17,596	16,922	16,170	15,441	14,780	14,383	13,711	12,868	11,813	10,829	10,353	10,045	10,081	10,189	10,195	10,192	10,176	10,167	10,227	10,246	0	0	0
Federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	6	9	0	0	0
Deposits with financial institutions
3,925	4,225	4,229	3,136	2,985	2,241	1,328	1,342	823	736	509	280	288	350	350	320	229	160	141	134	138	124	135	135	162	158	130	128	94	100	123	152	224	282	312	362	0	0	0
Federal Home Loan Bank stock
1,331	1,370	1,312	1,240	1,168	1,234	1,209	1,168	1,109	894	827	778	807	1,098	1,364	1,671	1,897	1,967	1,985	1,986	2,022	2,124	2,028	1,896	1,769	1,488	1,481	1,457	1,436	1,408	1,349	1,327	1,321	1,319	1,255	1,262	0	0	0
Total Interest Income
476,399	465,405	448,237	434,905	423,137	407,944	389,639	369,686	340,282	314,896	289,553	269,082	260,319	253,312	244,821	236,983	229,481	221,198	217,737	214,489	210,814	208,879	201,533	188,979	178,105	170,834	168,091	172,702	176,218	175,949	177,058	176,796	178,348	181,245	186,603	192,009	0	0	0
INTEREST EXPENSE
Deposits
93,739	91,585	84,201	73,056	62,134	51,542	42,687	35,712	28,684	23,806	19,857	17,073	15,975	15,914	15,966	15,755	15,402	14,855	14,319	13,457	12,645	11,678	10,626	9,986	9,711	10,053	10,937	12,241	13,581	14,800	16,071	17,600	19,525	22,281	27,210	32,684	0	0	0
Federal funds purchased
269	251	273	487	431	718	725	671	713	561	546	398	302	102	67	67	79	74	72	147	151	177	192	162	140	102	91	57	68	69	65	43	34	25	23	11	0	0	0
Securities sold under repurchase agreements
1,446	1,424	1,300	1,089	919	762	665	624	562	477	422	380	362	374	387	392	390	368	336	314	411	529	650	768	789	787	798	817	806	907	1,066	1,239	1,428	1,511	1,549	1,594	0	0	0
Federal Home Loan Bank advances
7,136	7,176	7,091	7,334	7,487	7,832	7,718	7,045	6,377	5,196	4,416	3,805	3,446	3,264	3,195	3,053	2,941	2,836	2,858	2,881	2,851	2,842	2,761	2,533	2,319	2,096	1,928	1,914	2,089	2,624	3,237	3,834	4,174	4,181	4,285	4,636	0	0	0
Interest Expense, Debt
8,138	8,309	8,412	8,425	8,359	8,233	8,106	7,962	7,745	7,572	7,419	7,271	7,217	7,185	7,033	6,902	6,786	6,661	6,662	6,657	6,635	6,616	6,292	5,362	4,447	3,531	2,942	3,398	3,996	5,213	6,368	7,880	9,193	9,892	10,679	9,899	0	0	0
Total Interest Expense
110,728	108,745	101,277	90,391	79,330	69,087	59,901	52,014	44,081	37,612	32,660	28,927	27,302	26,839	26,648	26,169	25,598	24,794	24,247	23,456	22,693	21,842	20,521	18,811	17,406	16,569	16,696	18,427	20,540	23,613	26,807	30,596	34,354	37,890	43,746	48,824	0	0	0
NET INTEREST INCOME
365,671	356,660	346,960	344,514	343,807	338,857	329,738	317,672	296,201	277,284	256,893	240,155	233,017	226,473	218,173	210,814	203,883	196,404	193,490	191,033	188,121	187,037	181,012	170,168	160,699	154,265	151,395	154,275	155,678	152,336	150,251	146,200	143,994	143,355	142,857	143,185	0	0	0
Provision for Loan, Lease, and Other Losses
21,352	2,800	3,964	4,764	5,927	7,227	7,363	8,046	9,258	9,143	9,760	9,577	7,492	5,657	3,240	1,340	967	417	1,377	2,977	2,560	2,560	2,616	2,549	4,546	6,648	10,137	13,213	15,761	18,534	19,884	20,831	21,911	22,630	27,296	36,755	0	0	0
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES
344,319	353,860	342,996	339,750	337,880	331,630	322,375	309,626	286,943	268,141	247,133	230,578	225,525	220,816	214,933	209,474	202,916	195,987	192,113	188,056	185,561	184,477	178,396	167,619	156,153	147,617	141,258	141,062	139,917	133,802	130,367	125,369	122,083	120,725	115,561	106,430	0	0	0
OTHER INCOME
Commission income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,147	5,681	7,400	7,471	7,411	7,462	7,375	7,237	7,141	7,010	6,992	6,729	6,224	5,990	5,900	5,439	5,660	5,922	5,881	0	0	0
Increase in cash surrender value of life insurance
4,889	4,518	4,134	3,951	3,931	4,020	4,079	4,176	4,086	3,906	3,148	2,996	3,052	3,630	4,077	3,881	3,648	2,919	2,831	3,645	3,658	3,659	3,617	2,704	2,661	2,613	2,614	2,688	2,740	3,418	3,528	3,487	3,396	2,596	2,333	2,215	0	0	0
Gains on life insurance benefits
-	-	19	19	-	198	198	715	2,769	2,671	2,379	2,286	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gains and fees on sales of loans
9,959	7,891	7,025	6,639	6,503	7,029	7,617	8,093	8,110	7,564	7,095	6,767	6,867	7,052	6,474	6,390	6,454	6,483	6,734	6,287	5,665	4,899	4,343	4,558	5,856	7,511	10,021	11,197	11,054	10,628	9,862	8,781	7,497	7,418	6,759	6,176	0	0	0
Net realized gains on sales of available for sale securities
7,887	4,415	3,629	4,521	3,800	4,269	5,150	4,197	3,642	2,631	2,344	2,851	2,990	3,389	3,165	3,441	2,642	2,670	3,293	3,088	4,025	3,581	2,335	1,425	820	487	742	1,585	1,848	2,389	2,424	2,442	2,765	2,439	2,151	1,547	0	0	0
Gain on sale of insurance subsidiary
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other-than-temporary impairment on available for sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,788	3,865	5,167	0	0	0
Portion of loss recognized in other comprehensive income before taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,388	1,951	1,039	0	0	0
Net impairment losses recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400	1,056	1,456	0	0	0
Gain on FDIC modified whole bank transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,124	0	0	0	-	-	-	-	-	-
Other income
2,003	2,068	3,097	2,908	2,525	2,699	224	953	1,098	992	2,971	3,434	3,786	3,594	1,316	1,544	1,063	1,778	-56	724	1,157	1,854	9,036	6,376	6,259	5,404	2,239	3,003	2,211	1,808	1,728	1,885	1,715	1,761	1,585	997	0	0	0
Total Other Income
97,774	86,688	81,623	79,034	75,611	76,459	76,340	75,481	75,724	71,009	68,068	66,261	64,212	65,203	62,281	61,752	69,473	69,868	68,461	70,541	62,614	61,816	66,305	59,693	57,573	56,016	53,942	56,415	55,521	64,302	63,067	62,024	59,920	49,120	47,194	44,906	0	0	0
OTHER EXPENSES
Salaries and employee benefits
150,252	144,037	139,029	133,023	132,506	131,704	131,114	131,422	126,306	119,812	109,046	102,453	100,947	102,552	105,354	103,840	104,704	101,908	99,707	98,743	95,739	96,499	96,374	92,817	89,923	85,413	82,263	81,730	80,835	79,398	78,113	77,994	76,913	74,735	73,794	71,772	0	0	0
Net occupancy
20,358	19,584	19,010	18,819	18,698	18,341	18,028	17,813	17,430	16,976	17,120	17,097	17,191	16,997	16,078	15,456	14,900	14,668	14,307	13,982	13,683	13,831	13,535	12,564	11,627	10,291	9,793	9,931	10,137	10,186	10,120	10,082	10,024	10,118	10,264	9,792	0	0	0
Equipment
16,920	16,218	15,416	14,869	14,308	14,334	14,605	14,600	13,951	13,090	12,261	11,730	12,066	12,497	12,111	11,862	11,459	10,787	10,419	9,908	9,164	9,337	9,391	9,056	8,702	7,737	7,310	7,256	7,170	7,201	6,931	6,795	6,816	6,794	6,919	7,118	0	0	0
Marketing
7,019	6,650	6,265	6,149	4,871	4,681	4,935	4,740	4,058	3,739	3,168	2,777	2,836	3,008	3,133	3,350	3,450	3,493	3,414	3,637	3,475	3,464	3,303	2,792	2,538	2,236	2,177	2,154	2,183	2,158	2,192	2,190	2,062	2,002	1,871	1,832	0	0	0
Outside data processing fees
16,991	16,476	15,415	14,402	13,935	13,215	13,226	12,966	12,590	12,242	11,536	10,756	9,695	9,148	8,108	7,718	7,461	7,109	7,069	6,930	7,201	7,315	6,928	6,590	5,942	5,591	5,747	5,645	5,760	5,656	5,672	5,650	5,602	5,671	5,642	5,562	0	0	0
Printing and office supplies
1,517	1,445	1,394	1,416	1,406	1,425	1,370	1,402	1,353	1,283	1,206	1,154	1,248	1,348	1,390	1,419	1,353	1,353	1,374	1,381	1,471	1,565	1,579	1,549	1,467	1,340	1,283	1,250	1,233	1,169	1,188	1,202	1,221	1,242	1,205	1,225	0	0	0
Intangible asset amortization
5,980	5,994	6,029	6,323	6,521	6,719	7,149	7,197	6,470	5,647	4,569	3,849	3,835	3,910	3,625	3,340	3,092	2,835	2,812	2,711	2,574	2,445	2,272	2,063	1,854	1,649	1,642	1,748	1,845	1,927	2,029	2,295	2,916	3,548	4,118	4,555	0	0	0
FDIC assessments
1,533	717	1,351	2,875	2,908	2,920	2,997	2,845	2,713	2,564	2,403	2,233	2,656	3,036	3,425	3,849	3,742	3,655	3,611	3,573	3,541	3,738	3,610	3,367	3,178	2,862	2,833	2,948	3,136	3,509	3,546	3,955	4,544	5,531	6,868	7,910	0	0	0
Other real estate owned and foreclosure expenses
1,768	2,428	2,613	2,774	2,233	1,470	1,530	1,405	1,774	1,903	2,166	2,473	2,657	2,877	2,510	3,548	3,478	3,956	223	1,166	2,934	3,462	8,656	7,686	6,552	6,661	6,759	7,215	7,858	8,178	8,981	8,884	9,605	10,614	11,036	10,532	0	0	0
Professional and other outside services
15,784	15,410	15,513	9,106	8,519	8,176	7,088	11,087	12,564	12,757	12,477	7,876	6,088	6,516	8,426	8,870	10,526	9,855	9,944	9,831	8,228	8,116	7,844	7,715	8,017	8,297	0	0	0	-	-	-	-	-	-	-	-	-	-
Other expenses
18,191	17,804	17,265	17,212	16,980	16,966	16,604	16,855	16,935	15,543	15,105	14,066	14,764	15,470	15,942	15,766	15,914	15,187	14,342	14,905	14,111	14,236	13,981	12,917	11,808	11,142	6,193	7,752	9,743	11,505	12,068	11,611	11,174	10,475	15,920	17,460	0	0	0
Total Other Expenses
256,313	246,763	239,300	226,968	222,885	219,951	218,646	222,332	216,144	205,556	191,057	176,464	173,983	177,359	180,102	179,018	180,079	174,806	167,222	166,767	162,121	164,008	167,473	159,116	151,608	143,219	137,164	137,349	137,787	137,115	136,048	135,866	136,085	135,938	137,637	137,758	0	0	0
INCOME BEFORE INCOME TAX
185,780	193,785	185,319	191,816	190,606	188,138	180,069	162,775	146,523	133,594	124,144	120,375	115,754	108,660	97,112	92,208	92,310	91,049	93,352	91,830	86,054	82,285	77,228	68,196	62,118	60,414	58,036	60,128	57,651	60,989	57,386	51,527	45,918	33,907	25,118	13,578	0	0	0
Income Tax Expense (Benefit)
25,874	29,325	26,976	29,117	29,329	28,999	38,260	37,721	36,967	37,524	30,164	29,694	29,203	27,609	24,177	23,265	25,405	25,665	26,885	26,308	23,340	22,123	20,879	17,566	15,833	15,884	14,643	15,902	15,035	15,867	15,013	13,648	11,756	8,655	5,792	1,337	0	0	0
Net Income (Loss) Attributable to Parent
0	-	0	0	0	-	0	0	0	-	0	0	0	-	72,935	68,943	66,905	-	66,467	65,522	62,714	60,162	56,349	50,630	46,285	44,530	43,393	44,226	42,616	45,122	42,373	37,879	34,162	25,252	19,326	12,241	0	0	0
Loss on retirement of CPP preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Loss on extinguishment of trust preferred securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Gain on exchange of preferred stock for trust preferred debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,380	3,274	3,978	4,261	4,539	4,539	4,273	4,128	3,981	3,716	4,291	0	0	0
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	42,150	40,119	40,248	38,355	40,583	37,834	21,348	17,776	9,013	3,352	18,002	0	0	0
Earnings Per Share [Abstract]
Earnings Per Share, Basic
0.63	0.87	0.71	0.83	0.79	0.85	0.83	0.80	0.75	0.49	0.50	0.57	0.57	0.55	0.51	0.50	0.43	0.37	0.46	0.47	0.43	0.41	0.45	0.42	0.38	0.34	0.35	0.35	0.38	0.33	0.35	0.28	0.46	0.24	-0.25	0.18	0.17	0.02	0.35
Earnings Per Share, Diluted
0.62	0.87	0.71	0.83	0.78	0.85	0.83	0.80	0.74	0.49	0.50	0.57	0.56	0.55	0.51	0.49	0.43	0.37	0.45	0.47	0.43	0.41	0.45	0.41	0.38	0.34	0.35	0.34	0.38	0.32	0.35	0.28	0.46	0.24	-0.25	0.18	0.17	0.02	0.35
Common Stock, Dividends, Per Share, Cash Paid
0.26	-	0.26	0.26	0.22	-	0.22	0.22	0.18	-	0.18	0.18	0.15	-	0.14	0.14	0.11	-	0.11	0.11	0.08	-	0.08	0.08	0.05	-	0.05	0.05	0.03	-	0.03	0.03	0.01	-	0.01	0.01	0.01	0.01	0.01
Weighted Average Number of Shares Outstanding, Diluted
54,917	-	51,569	49,549	49,540	-	49,492	49,451	49,427	-	48,643	42,243	41,220	-	41,025	40,969	40,916	-	38,118	38,043	38,000	-	36,328	36,294	36,260	-	29,081	29,023	28,971	-	28,888	28,815	28,754	-	26,367	25,782	25,763	25,686	25,633
Service charges on deposit accounts
Other income
23,826	22,951	22,155	21,667	21,268	20,950	20,500	19,925	19,325	18,722	18,190	17,813	17,791	17,762	17,346	17,124	16,798	16,201	16,062	15,736	15,744	15,747	15,407	14,408	13,222	12,400	11,723	11,516	11,497	11,587	11,652	11,908	12,012	11,972	12,349	12,686	0	0	0
Fiduciary and wealth management fees
Other income
19,729	17,562	16,020	15,264	14,928	14,906	16,714	16,824	15,838	14,682	14,305	12,970	12,737	12,591	9,456	9,250	9,183	9,196	9,300	9,210	9,261	8,966	8,961	8,795	8,699	8,594	8,341	8,341	8,015	7,891	7,711	7,606	7,597	7,650	7,619	7,716	0	0	0
Card payment fees
Other income
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Derivative hedge fees
Other income
0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other customer fees
Other income
1,623	1,664	1,741	1,743	1,857	1,860	-11,730	-7,629	-2,678	1,743	16,833	17,057	16,346	16,542	19,065	18,444	18,351	16,959	16,351	16,186	15,633	15,699	15,144	14,052	12,819	11,866	11,252	11,093	11,427	11,233	11,048	10,891	10,375	10,024	9,532	9,144	0	0	0