First Merchants (FRME) reported FY 2025 net income available to common stockholders of USD 224.1 million (+12.3%) and diluted EPS of USD 3.88 (+13.8%). Net interest income was USD 536.0 million (+2.9%), with net interest margin (FTE) at 3.25%. Noninterest income was USD 126.9 million (+1.1%) and noninterest expense was USD 382.6 million (+0.9%). Provision for credit losses was USD 21.3 million. At December 31, 2025, total assets were USD 19.0 billion (+3.9%), with total loans of USD 13.8 billion (+7.3%) and total deposits of USD 15.3 billion (+5.3%); the loan-to-deposit ratio was 90.3%. Credit quality metrics included net charge-offs of USD 18.4 million (0.14% of average loans), nonperforming assets/total assets of 0.38%, and an allowance for credit losses on loans of USD 195.6 million (1.42% of total loans), with ACL coverage of nonaccrual loans at 272.5%. Corporate updates included completion of the First Savings Financial Group acquisition on February 1, 2026 (First Savings had USD 2.4 billion in assets as of December 31, 2025, unaudited); First Merchants recorded USD 0.8 million of merger-related expenses in FY 2025. The company also repurchased 1.2 million common shares in FY 2025 for USD 46.9 million (average price USD 38.71), with about 1.7 million shares still authorized for repurchase as of December 31, 2025.

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