Overview

* First Merchants ( FRME ) Q3 adjusted EPS beats analyst expectations

* Company reports Q3 net income of $56.3 mln, up from $48.7 mln last year

* Company had announced acquisition of First Savings Financial Group, expanding into Southern Indiana

Outlook

* Company expects acquisition of First Savings to close in Q1 2026

Result Drivers

* LOAN GROWTH - Total loans grew $288.8 mln, or 8.7% annualized, primarily in Commercial & Industrial loans

* DEPOSIT INCREASE - Total deposits increased $72.4 mln, or 2.0% annualized, contributing to financial stability

* ACQUISITION IMPACT - Acquisition of First Savings Financial Group adds $2.4 bln in assets, expanding presence into Southern Indiana

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $0.99 $0.97 (6

Adjusted Analysts

EPS )

Q3 EPS $0.98

Q3 Net $56.30

Income mln

Q3 Net $133.69

Interest mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for First Merchants Corp ( FRME ) is $46.00, about 19.7% above its October 21 closing price of $36.92

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)