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First Merchants: Q1 Earnings Snapshot
By AP News - Apr 25, 2024, 08:12 AM ET
Last Updated - Apr 25, 2024, 08:12 AM EDT
MUNCIE, Ind. (AP) — MUNCIE, Ind. (AP) — First Merchants Corp. (FRME) on Thursday reported first-quarter earnings of $47.9 million.
The bank, based in Muncie, Indiana, said it had earnings of 80 cents per share. Earnings, adjusted for one-time gains and costs, were 85 cents per share.
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The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The bank posted revenue of $262.5 million in the period. Its revenue net of interest expense was $153.7 million, missing Street forecasts.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRME at https://www.zacks.com/ap/FRME
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