FORM 10-Q SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _______ to _______ Commission File Number 0-17071 FIRST MERCHANTS CORPORATION (Exact name of registrant as specified in its charter) | Indiana | 35-1544218 | | --- | --- | | (State o ...

First Merchants Corporation (NASDAQ:FRME) Q2 2021 Earnings Conference Call July 26, 2021 2:30 PM ET Company Participants Mark Hardwick - CEO Mike Stewart - President John Martin - Chief Credit Officer Michele Kawiecki - CFO Conference Call Participants Scott Siefers - Piper Sandler Daniel Tamayo - Raymond James Damon DelMonte - KBW Terry McEvoy - Stephens Brian Martin - Janney Montgomery Operator Good day, and welcome to the First Merchants Corporation Second Quarter 2021 Earnings Conference Call. All parti ...

First Merchants Corporation NASDAQ: FRME INVESTOR UPDATE Second Quarter 2021 First Merchants Corporation | 200 E. Jackson St., P.O. Box 792, Muncie, IN 47305 | 765.747.1500 Forward Looking Statement This presentation contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can often, but not always, be identified by the use of words like "believe", "continue", "pattern", "estimate", "project", "in ...

FORM 10-Q SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _______ to _______ Commission File Number 0-17071 FIRST MERCHANTS CORPORATION (Exact name of registrant as specified in its charter) | Indiana | 35-1544218 | | --- | --- | | (State ...

Call Start: 14:30 January 1, 0000 3:16 PM ET First Merchants Corporation (NASDAQ:FRME) Q1 2021 Earnings Conference Call April 22, 2021 02:30 PM ET Company Participants Mark Hardwick - Chief Executive Officer Mike Stewart - President John Martin - Chief Credit Officer Michele Kawiecki - Chief Financial Officer Conference Call Participants Scott Siefers - Piper Sandler Terry McEvoy - Stephens Daniel Tamayo - Raymond James Damon DelMonte - KBW Brian Martin - Janney Montgomery Daniel Tamayo - Raymond James Bryc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 _______________________________ FORM 10-K [Mark One] ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to_________ Commission file number 0-17071 FIRST MERCHANTS CORPORATION (Exact name of registrant as specified in its charte ...

Financial Data and Key Metrics Changes - The company reported a net income of $149 million and earnings per share of $2.74 for the year, with a pretax, pre-provision return on assets of 1.7% [19][36] - The fourth quarter earnings per share totaled $0.83, an increase of $0.16 over the prior quarter [20] - Total asset growth was exceptional at $1.6 billion or 12.9% over 2019, reflecting strong loan and deposit production [36] Business Line Data and Key Metrics Changes - The commercial banking team achieved a 10% annual loan growth rate in the fourth quarter, with core loan growth of 11.2% [10][17] - Consumer banking saw an acceleration in the usage of digital and online banking products, with plans for further investment in product capabilities [11] - The private wealth team is fully integrated into each market, contributing to balanced full-service banking growth [13] Market Data and Key Metrics Changes - The company reported a 9.2% increase in loans and a 15.5% growth in deposits [16] - The investment portfolio grew by $213.5 million in the fourth quarter, representing a 29% annualized growth [22] - The yield on the loan portfolio was strong at 4.2%, with 62% of the loan portfolio being variable [23] Company Strategy and Development Direction - The new vision statement emphasizes enhancing financial wellness and diversity within the communities served [6][7] - The company plans to consolidate 17 banking centers and invest significantly in technology to digitize operations over the next three years [17][18] - The acquisition of Hoosier Trust Company is expected to provide strong top-line momentum heading into 2021 [17] Management's Comments on Operating Environment and Future Outlook - Management expressed pride in the 2020 results despite headwinds, highlighting the successful navigation of the Paycheck Protection Program [16] - The company anticipates a stable core net interest margin in 2021, with expectations for continued loan growth [31][86] - Management remains cautious about the economic environment but is optimistic about the potential for growth and recovery [75][94] Other Important Information - The company announced a new $100 million share repurchase program aimed at driving top quartile returns on equity [18] - The efficiency ratio for the fourth quarter was reported at a low 51.6%, excluding one-time charges [20] - The allowance for loan losses increased to $130.6 million, with a coverage ratio of 1.41% [26] Q&A Session Summary Question: What is the expectation for the remaining PPP loans? - Management expects significant forgiveness in the first half of the year, likely more weighted towards the second quarter [63] Question: What are the expectations for core expenses moving forward? - The run rate for 2021 is projected to be between $68 million to $70 million per quarter, reflecting increased investments in corporate social responsibility [69] Question: How does the company view the CECL adoption and reserve levels? - The company anticipates a healthy reserve level of 2.22% post-CECL adoption, with a cautious approach to provisioning [74][91] Question: What is the outlook for fee income? - Fee income for 2021 is expected to be in line with Q4 2020, with additional contributions from the Hoosier Trust acquisition [88] Question: What is the company's strategy regarding M&A? - The company remains open to opportunistic acquisitions, particularly in the Michigan market, and is actively exploring potential opportunities [84][101]

First Merchants Corporation NASDAQ: FRME INVESTOR UPDATE Fourth Quarter 2020 First Merchants Corporation | 200 E. Jackson St., P.O. Box 792, Muncie, IN 47305 | 765.747.1500 Forward Looking Statement This presentation contains forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements can often, but not always, be identified by the use of words like "believe", "continue", "pattern", "estimate", "project", "in ...

FORM 10-Q SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE (Exact name of registrant as specified in its charter) | Indiana | 35-1544218 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Identification No.) | | 200 East Jackson Street, Muncie, IN | 47305-2814 | (Address of principal executive offices) (Zip code) (Registrant's telephone number, including area code): (765) 747-1500 SECUR ...

Financial Data and Key Metrics Changes - First Merchants reported Q3 2020 net income of $36.2 million, a slight decrease from $36.8 million in Q3 2019, with earnings per share at $0.67 compared to $0.71 in the same period last year [9] - The pretax pre-provision income was $54.4 million, resulting in a return on assets of 1.59% [9] - Total assets increased by $1.3 billion, or 13.7% annualized since year-end 2019, while total deposits rose by $1.1 billion, or 14.4% annualized [17][22] Business Line Data and Key Metrics Changes - The loan portfolio increased by $779 million since year-end, with PPP loans accounting for $901 million of this growth [18] - Non-interest income totaled $26.1 million, with customer-related fees increasing to $23 million from $21.1 million in Q2 2020 [27] - Non-interest expense was $64.7 million, with expectations for similar levels in Q4 2020 [29] Market Data and Key Metrics Changes - The company noted a stabilization in core net interest margin, which decreased by 4 basis points to a predictable level for the near future [25] - The investment portfolio produced a yield of 2.94% with an unrealized gain of $141.5 million, indicating strong performance compared to peers [21] Company Strategy and Development Direction - The company is focused on capital preservation and is actively working on its 2021 plan, emphasizing digital investment and banking center optimization [63][65] - First Merchants aims to maintain a mid-to-high single-digit growth rate in loans and low-to-mid single-digit growth in deposits, with potential for M&A opportunities [106] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the economic environment, noting that clients are wary but opportunistic [77] - The company anticipates a gradual recovery in loan demand, particularly in the mortgage sector, which has shown strong performance [78] Other Important Information - The allowance for loan losses increased to $126.7 million, representing 1.65% of total loans, with a provision expense of $12.5 million for the quarter [32] - The company plans to adopt the CECL methodology in the next quarter, which is expected to increase the allowance for loan losses significantly [34] Q&A Session Summary Question: Loan growth outlook and customer sentiment - Management noted that customers are cautious but looking for opportunities, with a healthy level of loan originations despite lower utilization rates [77][78] Question: Impact of CECL on reserves - The $52.2 million CECL impact will go through equity, while any additional adjustments will be reflected in the income statement [84][86] Question: Branch footprint and consolidation plans - The company is evaluating its branch footprint and plans to optimize its storefront census, with potential closures in 2021 [90] Question: Dividend and buyback considerations - Management is open to increasing dividends in the future but has decided to maintain the current level due to economic uncertainty [115]