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First Merchants Corporation FRME Q3 2025 earnings

Reported October 22, 2025 · After market close

Revenue$166.1MMiss by $6.3M
EPS$0.99Beat by $0.03
Revenue estimate$172.5M
EPS estimate$0.96

Next report

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

Financials

Q3 2025

Income statement

See full
Revenue$166.1M+6.5%
Net income$56.8M+15.4%
EPS (diluted)$0.98+16.7%

Balance sheet

See full
Cash & equivalents$88.1M+4.0%
Total debt$1.2B+9.0%
Total equity$2.4B+4.8%
Total assets$18.8B+2.5%

Cash flow

See full
Operating cash flow$87.6M+14.0%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$2.18B+0.1%
Enterprise value$3.27B+3.0%
P/E9.3×-2.8×
P/S3.3×-0.2×

Profitability

See full
Net margin34.9%+6.3pp

Returns & leverage

See full
Return on equity9.9%+1.7pp
Debt / equity0.5×0.0×

Segments

By product

See full
Service charges on deposit accounts$8.9M+6.7%
Fiduciary and wealth management fees$8.8M+3.7%
Card payment fees$5.0M-2.2%
Derivative hedge fees$1.1M+49.0%
Other customer fees$414.0K+20.3%

Versus estimates

Revenue

Q2 2026$202.5MMiss by $292.2KQ1 2026$193.3MBeat by $4.9MQ4 2025$178.4MBeat by $5.1M
Q3 2025$166.1MMiss by $6.3M
Q2 2025$164.3MMiss by $8.5MQ1 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 $0.02
Q3 2025$0.99Beat by $0.03
Q2 2025$0.98Beat by $0.04Q1 2025$0.94Beat by $0.03

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Questions, answered.

When did First Merchants Corporation report Q3 2025 earnings?
First Merchants Corporation (FRME) reported Q3 2025 earnings on October 22, 2025 after market close.
What were First Merchants Corporation's Q3 2025 revenue and EPS?
First Merchants Corporation reported revenue of $166.1M and eps of $0.99 for Q3 2025.
Did First Merchants Corporation beat estimates in Q3 2025?
Revenue missed the consensus estimate of $172.5M by $6.3M. EPS beat the consensus estimate of $0.96 by $0.03.
How did First Merchants Corporation's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.5% from $156.0M a year earlier and eps grew 17.9% from $0.84.
Where can I find First Merchants Corporation's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0000712534-25-000197) directly on SEC EDGAR. The filing index links above go to sec.gov.