Monitor upcoming quarters for integration benefits from the First Savings acquisition and whether the adjusted earnings growth can be sustained without non-recurring items.
Price Chart
Executive Summary
First Merchants Corporation reported first quarter 2026 earnings with GAAP diluted EPS of $0.45, missing prior year's $0.94. However, adjusted EPS of $1.03 beat prior year's $0.94 by 9.6% despite acquisition costs and a $29.8 million mortgage loan reclassification loss. Net interest margin expanded 13 basis points year-over-year to 3.35%, and the company completed its acquisition of First Savings.
Key Financial Metrics
Key Facts
- GAAP diluted EPS of $0.45 vs $0.94 in 1Q25
- Adjusted EPS of $1.03 vs $0.94 in 1Q25
- Net interest income increased 16.1% YoY to $151.3 million
- Net interest margin FTE increased 13 basis points YoY to 3.35%
- Acquisition of First Savings Financial Group completed on February 1, 2026
- $17.0 million in acquisition-related costs incurred
- $29.8 million mark-to-market loss on mortgage loans reclassified to held-for-sale
Financial Impact
GAAP net income available to common stockholders of $27.7 million vs $54.9 million in 1Q25
Risk Factors
- Acquisition integration risk
- Mortgage loan reclassification loss impacting capital
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000712534-26-000032 |
| Document: frme1q2026earningsreleas.htm | 0000712534-26-000032 |
| Document: frme-20260422.htm | 0000712534-26-000032 |
| Document: 0000712534-26-000032-index-headers.html | 0000712534-26-000032 |
| Document: 0000712534-26-000032-index.html | 0000712534-26-000032 |
| Document: 0000712534-26-000032.txt | 0000712534-26-000032 |
| 8-K Data (Synthetic) | 0000712534-26-000032 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 19, 2026 22w ago | 8-K | $25.23 $25.05 | ▼ −0.69% | ▼ −1.43% | $25.31 (+0.32%) |
May 19, 2026 22w ago | 8-K | $25.15 $25.25 | ▲ +0.41% | ▼ −0.58% | $25.31 (+0.62%) |
Apr 22, 2026 26w ago | 8-K | $25.49 $25.23 | ▼ −1.03% | ▼ −5.66% | $25.31 (−0.72%) |
US Market Status
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