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First Merchants Corporation FRME Q2 2025 earnings

Reported July 23, 2025 · After market close

Revenue$164.3MMiss by $8.5M
EPS$0.98Beat by $0.04
Revenue estimate$172.8M
EPS estimate$0.94

Next report

Oct 28, 2026 (in 3 months)
Revenue estimate$204.0M
EPS estimate$1.03

Financials

Q2 2025

Income statement

See full
Revenue$164.3M+2.8%
Net income$56.8M+42.3%
EPS (diluted)$0.98+44.1%

Balance sheet

See full
Cash & equivalents$81.6M-22.6%
Total debt$1.2B-1.1%
Total equity$2.3B+6.1%
Total assets$18.6B+1.6%

Cash flow

See full
Operating cash flow$53.7M-14.8%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$2.17B+11.4%
Enterprise value$3.25B+7.7%
P/E9.6×-0.8×
P/S3.3×+0.2×

Profitability

See full
Net margin34.3%+4.7pp

Returns & leverage

See full
Return on equity9.9%+1.3pp
Debt / equity0.5×0.0×

Segments

By product

See full
Fiduciary and wealth management fees$8.8M+0.1%
Service charges on deposit accounts$8.6M+4.3%
Card payment fees$4.9M+4.1%
Derivative hedge fees$831.0K+69.9%
Other customer fees$401.0K-12.8%

Versus estimates

Revenue

Q2 2026$202.5MMiss by $292.2KQ1 2026$193.3MBeat by $4.9MQ4 2025$178.4MBeat by $5.1MQ3 2025$166.1MMiss by $6.3M
Q2 2025$164.3MMiss by $8.5M
Q1 2025$160.3MMiss by $10.6M

Diluted EPS

Q2 2026$0.74Miss by $0.28Q1 2026$1.03Beat by $0.07Q4 2025$0.98Beat by $0.02Q3 2025$0.99Beat by $0.03
Q2 2025$0.98Beat by $0.04
Q1 2025$0.94Beat by $0.03

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Questions, answered.

When did First Merchants Corporation report Q2 2025 earnings?
First Merchants Corporation (FRME) reported Q2 2025 earnings on July 23, 2025 after market close.
What were First Merchants Corporation's Q2 2025 revenue and EPS?
First Merchants Corporation reported revenue of $164.3M and eps of $0.98 for Q2 2025.
Did First Merchants Corporation beat estimates in Q2 2025?
Revenue missed the consensus estimate of $172.8M by $8.5M. EPS beat the consensus estimate of $0.94 by $0.04.
How did First Merchants Corporation's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.8% from $159.9M a year earlier and eps grew 44.1% from $0.68.
Where can I find First Merchants Corporation's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0000712534-25-000171) directly on SEC EDGAR. The filing index links above go to sec.gov.