First Merchants: Q2 Earnings Snapshot
By AP News
Published - Jul 25, 2023, 08:15 AM ET
Last Updated - Jul 25, 2023, 08:15 AM EDT
MUNCIE, Ind. (AP) — MUNCIE, Ind. (AP) — First Merchants Corp. (FRME) on Tuesday reported second-quarter profit of $60.9 million.
The bank, based in Muncie, Indiana, said it had earnings of $1.02 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The bank posted revenue of $247.7 million in the period. Its revenue net of interest expense was $164.2 million, which also missed Street forecasts.
