Company Analysis

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First Merchants Corporation Depository Shares (FRMEP)

Nasdaq: FRMEP · National Commercial Banks · Muncie, IN · filing with the SEC since 1994

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Grade5.3

◀ Past 6.4● Present 5.7▶ Future 3.0

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The companyfiscal 2025, as filed

Revenue$925M-2.4%

Net income$226M+12.2%

Earnings per share$3.88+13.8%

Operating cash flow$284M+6.5%

Cash$84.2M-3.9%

Debt$1000M-13.7%

Shareholders’ equity$2.47B+7.0%

Shares, diluted57.7M-1.4%

Return on equity9.2%

The recordfrom its filings

Filings in 2026124

Newest filingOct 30 · 10-Q

Annual reportFeb 25, 2026

Quarterly reportOct 30, 2026

Next report due10-K by Mar 1

Insider sales, 12 months$1.9M

Insider buys, 12 months$0.00

Patents grantedn/a

Filer categoryLarge accelerated filer

Trailing twelve months to Sep 2026Revenue $1.01BNet income $198MCash from operations $306Mthe four newest filed quarters added

Left: the newest annual report, with the change on the year before. Right: counted from the company's own filings with the SEC.

Revenue and net income by fiscal yearRevenueNet income

16171819202122232425

As filed, in USD. Nothing here is a forecast.

News

Oct 30, 2026 · SEC EDGAR · Form 10-Q

Quarterly report

Open the filing on sec.gov

Oct 21, 2026 · SEC EDGAR · Form 8-K

Results released

Open the filing on sec.gov

Oct 15, 2026 · SEC EDGAR · Form 13F-HR

Holdings report, as a money manager

Open the filing on sec.gov

Oct 15, 2026 · SEC EDGAR · Form 8-K

Open the filing on sec.gov

Oct 2, 2026 · SEC EDGAR · Form 4

Insider trade report

Open the filing on sec.gov

Oct 2, 2026 · SEC EDGAR · Form 4

Insider trade report

Open the filing on sec.gov

Oct 2, 2026 · SEC EDGAR · Form 4

Insider trade report

Open the filing on sec.gov

Oct 2, 2026 · SEC EDGAR · Form 4

Insider trade report

Open the filing on sec.gov

Oct 2, 2026 · SEC EDGAR · Form 4

Insider trade report

Open the filing on sec.gov

Oct 2, 2026 · SEC EDGAR · Form 4

Insider trade report

Open the filing on sec.gov

An outside story is shown by its headline, its source and its link only. The SI reads the page when you ask it to break one down.

SI brieffrom the record

Core business

First Merchants Corporation Depository Shares is classed by the SEC under National Commercial Banks (industry code 6021), based in Muncie, IN.

Newest on the record

Quarterly report on Oct 30. Before it, current report on Oct 21.

What is due next

The 10-K for the period to Dec 31, 2026, due by Mar 1, 2027.

About FRMEP

First Merchants Corporation Depository Shares is classed by the SEC under National Commercial Banks (industry code 6021), based in Muncie, IN. In its latest annual figures on file, for the fiscal year ended 2025-12-31, it reported revenue of $925 million and a profit of $226 million (its filed statements).

IndustryNational Commercial Banks

HeadquartersMuncie, IN

Business modelLending business

ExchangeNasdaq, Nasdaq

Filing since1994

Fiscal year endsDec 31

SEC number (CIK)712534

Peers on fileFRME, TRMK, HOPE, CBU

Financial performance

In fiscal 2025 First Merchants Corporation Depository Shares’s revenue was $924.8 million, down 2.4% from $948.0 million the year before. Net income was $226.0 million, up 12.2%.

Annual report, filed Feb 25, 2026.

Financial statements

The grade

First Merchants Corporation Depository Shares grades 5.3 of 10 against its own industry, the 83 companies in National Commercial Banks. All nine metrics are read as filed.

◀ Past6.4

● Present5.7

▶ Future3.0

How the grade is made

Forecast

Every forecast is registered before the outcome, with the rule that settles it. A miss stays on the page.

Company forecasts

SI Assistanton FRMEP · research, not advice