First Merchants Corp (FRME) Reports In-Line Q1 EPS

First Merchants Corp (NASDAQ: FRME) reported Q1 EPS of $0.62, in-line with the analyst estimate of $0.62.

Michael C. Rechin, President and Chief Executive Officer, stated, “It’s humbling to lead an organization that has such a positive impact on our communities. The resiliency of our employees and our customers is a testament to the strength of the human spirit. The transformation of our business to remote work, drive-up consumer business and serving our customers through the processing of loan modifications and Paycheck Protection Program loans in the thousands is spectacular.” Rechin also added, “Our profitability levels were negatively impacted by margin compression and provision for loan losses; however, the strength of our fee income businesses provided a positive contribution to earnings. We believe our pre-tax, pre-provision earnings remain best-in-class.”

For earnings history and earnings-related data on First Merchants Corp (FRME) click here.

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