First Merchants Corp (FRME) Tops Q3 EPS by 3c

First Merchants Corp (NASDAQ: FRME) reported Q3 EPS of $0.83, $0.03 better than the analyst estimate of $0.80.

Michael C. Rechin, President and Chief Executive Officer, stated, “Deposit betas, deposit growth and flattening yield curves seem to be a primary focus of investors this quarter. First Merchants continues to perform well delivering strong net interest income and net interest margin coupled with high, single-digit organic balance sheet growth. Our highly efficient business model continues to drive performance and returns at levels produced by the best banks in the industry.”

Rechin continued, “On October 10th we announced the signing of a definitive agreement to merge Monroe Bank and Trust (MBT) into First Merchants. Currently we are working closely with the MBT executives to sustain their performance momentum and the community leadership they enjoy throughout their marketplace.”

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

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