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TOWN - First Merchants Corporation: An Attractive Way To Play The Banking Sector
Towne Bank
2024-06-21 15:11:16 ET
Summary
First Merchants Corporation is a regional bank with a long operating history and a market capitalization of $1.85 billion.
The bank has shown growth in deposits and loans, with a focus on commercial and industrial loans.
Despite recent downward pressure on revenue and profits, the institution is undervalued compared to similar firms and has strong asset quality, making it a "buy."