First Merchants: 2Q Earnings Snapshot
MUNCIE, Ind. (AP) _ First Merchants Corp. (FRME) on Thursday reported second-quarter profit of $41.1 million.
The Muncie, Indiana-based bank said it had earnings of 83 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The bank posted revenue of $134.3 million in the period. Its revenue net of interest expense was $106.9 million, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $109.1 million.
First Merchants shares have climbed 13% since the beginning of the year. The stock has declined 19% in the last 12 months.