First Merchants Corp - FRME STOCK NEWS

First Merchants (NASDAQ: FRME) reported strong Q4 2024 results with net income of $63.9 million and diluted EPS of $1.10, compared to $48.7 million and $0.84 in Q3 2024, and $42.0 million and $0.71 in Q4 2023. Key highlights include:

- Net interest margin improved to 3.28% from 3.23% in Q3 2024
- Total loans grew $185.6 million (5.9% annualized) quarter-over-quarter
- Total deposits increased $156.5 million (4.4% annualized) from previous quarter
- Strong capital position with Common Equity Tier 1 Ratio of 11.43%

The company completed the sale of five Illinois branches to Old Second National Bank, including $7.4 million in loans and $267.4 million in deposits, generating a $20.0 million gain. Excluding branch sale and securities portfolio repositioning impacts, adjusted net income was $58.1 million or $1.00 per share.

First Merchants has announced a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A. The dividend will be distributed through depositary shares (NASDAQ: FRMEP), with holders receiving $0.4688 per depositary share.

The dividend payment is scheduled for February 15, 2025, with a record date of January 31, 2025. Each depositary share represents a 1/100th interest in a share of the Series A preferred stock. First Merchants , headquartered in Muncie, Indiana, operates through First Merchants Bank and its division First Merchants Private Wealth Advisors.

First Merchants (NASDAQ:FRME) has announced it will release its fourth quarter 2024 financial results on January 30, 2025. The company will host an earnings conference call and webcast at 11:30 a.m. (ET) on the same day.

Participants can access the call through a registration link that will provide them with a phone number and access code. A webcast with presentation slides will also be available, with the replay accessible until January 30, 2026.

First Merchants is a financial holding company based in Muncie, Indiana, operating through First Merchants Bank and its division First Merchants Private Wealth Advisors.

First Merchants (FRME) has announced a cash dividend of $0.35 per share, as declared on November 12, 2024. The dividend will be payable on December 20, 2024, to shareholders of record as of December 6, 2024. The ex-dividend date is set for December 5, 2024. First Merchants operates through First Merchants Bank and its division First Merchants Private Wealth Advisors, providing financial services from its headquarters in Muncie, Indiana.

First Merchants (NASDAQ: FRME) reported third quarter 2024 net income of $48.7 million with diluted earnings per share of $0.84, compared to $55.9 million and $0.94 in Q3 2023. Adjusted net income, excluding securities portfolio repositioning loss, was $55.6 million or $0.95 per share. The company announced the sale of five Illinois branches to Old Second National Bank, with $287.7 million in deposits reclassified as held for sale. Total assets reached $18.3 billion with loans at $12.7 billion. Net interest margin improved to 3.23% from 3.16% quarter-over-quarter. The company maintained strong capital position with Common Equity Tier 1 Capital Ratio of 11.25%.

First Merchants has announced a quarterly cash dividend of $46.88 per share on its 7.50% Non-Cumulative Perpetual Preferred Stock Series A. This translates to $0.4688 per depositary share for holders of depositary shares (NASDAQ: FRMEP), each representing a 1/100th interest in a share of the Series A preferred stock. The dividend is payable on November 15, 2024, to stockholders of record on October 31, 2024.

First Merchants is a financial holding company based in Muncie, Indiana, with one full-service bank charter, First Merchants Bank. The company's common stock trades on the NASDAQ Global Select Market under the symbol FRME, while the depositary shares trade under FRMEP.

First Merchants (Nasdaq:FRME) has announced it will report its third quarter 2024 financial results on October 24, 2024. The company will host an earnings conference call and webcast at 11:30 a.m. (ET) on the same day. Participants can access the call via phone by registering through a provided link, which will supply them with a phone number and access code. A webcast and presentation slides will also be available through a separate link. The webcast replay will be accessible until October 24, 2025.

First Merchants is a financial holding company based in Muncie, Indiana, operating First Merchants Bank and First Merchants Private Wealth Advisors. The company's common stock is traded on the NASDAQ Global Select Market under the symbol FRME.

Old Second Bancorp (NASDAQ: OSBC) and First Merchants (NASDAQ: FRME) have announced a transaction involving Chicagoland branch operations. Old Second National Bank will acquire 5 Illinois branches from First Merchants Bank in the Southeast Chicago MSA, adding $304 million in deposits and $12 million in loans. Old Second will pay a 7.5% deposit premium, equating to approximately $23 million in cash consideration.

This acquisition strengthens Old Second's position as one of the largest Chicago-headquartered banks and expands its branch network in the Southeast Chicago market. For First Merchants, this sale completes its exit from suburban Chicago markets. The transaction is expected to close near year-end 2024, subject to regulatory approval.

First Merchants (NASDAQ: FRME) has announced a cash dividend of $0.35 per share, as declared on August 16, 2024. The dividend will be payable on September 20, 2024, to shareholders of record as of September 6, 2024. For broker trading purposes, the ex-date is set for September 5, 2024.

First Merchants is a financial holding company based in Muncie, Indiana, operating through its full-service bank charter, First Merchants Bank. The bank also provides services under First Merchants Private Wealth Advisors, a division of First Merchants Bank.