Earnings ·
First Merchants Corporation reported second quarter 2026 net income of $43.5 million, or $0.70 per diluted common…
FRMEFirst Merchants Corp
First Merchants Corporation reported second quarter 2026 net income of $43.5 million, or $0.70 per diluted common share, compared to $27.7 million in the first quarter of 2026. Results were impacted by a $33.0 million provision for credit losses, primarily due to two commercial lending relationships totaling $41.8 million placed on nonaccrual status, which required $29.7 million in associated reserves. Adjusted net income for the quarter was $46.4 million, or $0.74 per diluted common share. The company achieved organic loan growth of $221.7 million and deposit growth of $267.8 million on a linked quarter basis. Net interest margin on a fully taxable equivalent basis was 3.38%. First Merchants Corporation is a financial holding company that operates a full-service bank.