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Stock impact report

First Merchants Corporation Announces Second Quarter 2022 Earnings per Share

First Merchants Corporation (FRME) 
Last first merchants corporation earnings: 4/23 08:00 am Check Earnings Report
Company Research Source: GlobeNewswire
MUNCIE, Ind., July 26, 2022 (GLOBE NEWSWIRE) -- First Merchants Corporation (NASDAQ - FRME) Second Quarter 2022 Highlights: Net income available to common stockholders was $38.5 million and diluted earnings per common share totaled $.63, compared to $55.6 million and $1.03 in the second quarter of 2021, and $48.6 million and $.91 in the first quarter of 2022. Completed legal closing on the acquisition of Level One Bancorp, Inc. (“Level One”) on April 1, 2022.Adjusted net income1 was $60.0 million and adjusted diluted earnings per share1 totaled $1.01, compared to $48.2 million and $.89 in the second quarter of 2021, and $47.3 million and $.88 in the first quarter of 2022.Total loans grew $2.0 billion during the second quarter which included $1.6 billion from the acquisition of Level One. Excluding the forgiveness of $59.2 million in Paycheck Protection Program (“PPP”) loans, organic loan growth totaled $468.3 million or 20.1% annualized on a linked quarter basis.Total deposits gre Show less Read more
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