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First Merchants: Q1 Earnings Snapshot

April 22, 2021 GMT

MUNCIE, Ind. (AP) _ First Merchants Corp. (FRME) on Thursday reported first-quarter profit of $49.5 million.

The Muncie, Indiana-based bank said it had earnings of 91 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The bank posted revenue of $133.9 million in the period. Its revenue net of interest expense was $124.5 million, missing Street forecasts. Three analysts surveyed by Zacks expected $126.9 million.

First Merchants shares have climbed 23% since the beginning of the year. The stock has increased 79% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRME at https://www.zacks.com/ap/FRME