FRME - First Merchants Non-GAAP EPS of $1.19 beats by $0.03 revenue of $173.11M misses by $5.97M

January, 26 2023 08:06 AM First Merchants Corporation

First Merchants press release ( NASDAQ: FRME ): Q4 Non-GAAP EPS of $1.19 beats by $0.03 .
Revenue of $173.11M (+620.1% Y/Y) misses by $5.97M .
Total loans grew $344.1 million, or 11.8% annualized on a linked quarter basis, excluding the forgiveness of $6.5 million in Paycheck Protection Program (“PPP”) loans.
Total deposits declined $52.1 million, or 1.4% annualized on a linked quarter basis.
Nonaccrual loans totaled $42.3 million compared to $43.5 million on a linked quarter basis.
The efficiency ratio totaled 48.60% for the quarter.

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Company Name:	First Merchants Corporation
Stock Symbol:	FRME
Market:	NASDAQ
Website:	firstmerchants.com