Peer Analysis

Performance Ratios (%) FRME Peer Median Peer Average
ROAA 1.40 1.43 1.39
ROAE 10.92 10.76 11.68
Net Interest Margin 3.26 3.26 3.23
Efficiency Ratio 50.51 54.77 55.10
Loans/ Deposits 73.22 78.42 75.95
Asset Quality Ratios (%)      
NPAs/ Assets 0.35 0.53 0.69
NCOs/ Avg Loans 0.06 0.12 0.13
Loan Loss Reserves/ Gross Loans 2.21 1.35 1.44
Reserves/ NPAs 379.89 179.34 200.41
Capital Ratios (%)      
Tier 1 Ratio 12.17 13.51 13.86
Tangible Equity/ Tangible Assets 8.94 9.07 9.59
Total Equity/ Total Assets 12.40 12.01 12.04
Market Ratios      
Price / Earnings after Extra 10.69 11.81 13.52
Price / Book 115.10 129.17 155.06
Dividend Yield 2.89 2.61 2.68


Data for trailing four quarters

First Merchants Corporation's peer group consists of the following: 1st Source Corporation (SRCE), BancFirst Corporation (BANF), Community Trust Bancorp, Inc. (CTBI), First Busey Corporation (BUSE), First Commonwealth Financial Corporation (FCF), First Financial Bankshares, Inc. (FFIN), First Midwest Bancorp, Inc. (FMBI), Great Western Bancorp, Inc. (GWB), Heartland Financial USA, Inc. (HTLF), Independent Bank Corp. (INDB), Lakeland Financial Corporation (LKFN), Northwest Bancshares, Inc. (NWBI), Old National Bancorp (ONB), Park National Corporation (PRK), Pinnacle Financial Partners, Inc. (PNFP), Republic Bancorp, Inc. (RBCA.A), S&T Bancorp, Inc. (STBA), Stock Yards Bancorp, Inc. (SYBT), WesBanco, Inc. (WSBC)

First Merchants Corporation's financial data is as of 9/30/2021.

Peer financial data is as of 9/30/2021.


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  • First Merchants Corporation

    200 East Jackson Street
    P.O. Box 792
    Muncie, IN 47305-2814

    (765) 747-1500

  • Investor Relations Contact

    Nicole M. Weaver
    765.521.7619 or
    800.262.4261, Ext. 47619


  • Shareholder Relations Contact

    Cindy Holaday
    765.741.7278 or
    800.262.4261, Ext. 27278


  • Transfer Agent

    PO Box 1342
    Brentwood, NY 11717-0718
    (888) 401-4448

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