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FRME First Merchants

First Merchants Corporation is a financial holding company headquartered in Muncie, Indiana. The Corporation has one full-service bank charter, First Merchants Bank. The Bank also operates as First Merchants Private Wealth Advisors (as a division of First Merchants Bank). FIRST MERCHANTS and the Shield Logo are federally registered trademarks of First Merchants Corporation.

Company profile

Ticker
FRME
Exchange
CEO
Michael Rechin
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
IRS number
351544218

FRME stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors
Top 50 of 201 long holdings
End of quarter 30 Jun 21
Value
 
#Shares
 
Prev Q
 
Change
%, QoQ
$311.6M 3.85M 3.85M -0.0
$71.27M 618K 605.32K +2.1
$56.53M 714.62K 715.6K -0.1
$55.57M 595.26K 600.99K -1.0
$54.32M 571.23K 575.38K -0.7
$50.72M 409.61K 414.44K -1.2
$37.63M 274.78K 280.22K -1.9
$34.56M 341.13K 334.54K +2.0
$31.87M 395.31K 395.31K 0
$28.18M 104.02K 104.76K -0.7
$25.21M 63.22K 62.08K +1.8
$21.43M 8.75K 8.92K -1.9
$18.4M 80.14K 88.39K -9.3
$18.23M 77.96K 81.7K -4.6
$16.45M 183.13K 175.96K +4.1
$16.39M 48.06K 48.32K -0.5
$15.22M 58.61K 60.16K -2.6
$13.93M 71.79K 71.62K +0.2
$13.02M 258.03K 247.39K +4.3
$12.79M 64.37K 64.9K -0.8
$12.59M 123.71K 127.35K -2.9
$12.08M 40.99K 41.26K -0.7
$12.01M 81.07K 80.95K +0.1
$11.36M 199.28K 196.43K +1.5
$11.1M 95.71K 94.68K +1.1
$10.79M 49.92K 50.1K -0.4
$10.74M 61.08K 60.04K +1.7
$10.5M 53.02K 54.07K -1.9
$10.45M 32.77K 31.96K +2.5
S&P 400 Mid-cap Etf SPDR
$10.27M 20.93K 21.33K -1.9
$10.26M 21.52K 21.35K +0.8
$10.17M 25.71K 25.6K +0.4
$9.47M 178.67K 187.37K -4.6
$9.42M 2.74K 2.58K +6.1
$9.32M 56.55K 56.99K -0.8
$9.15M 22.84K 22.98K -0.6
$8.89M 57.12K 57.83K -1.2
$8.63M 273.23K 262.51K +4.1
$8.5M 34.86K 34.52K +1.0
$8.47M 216.42K 215.15K +0.6
$8.42M 19.67K 20.37K -3.5
$8.28M 37.74K 38.31K -1.5
$8.12M 60.16K 61.54K -2.2
$7.54M 99.71K 90.37K +10.3
$7.44M 52.77K 61.02K -13.5
$7.05M 8.06K 7.96K +1.2
$6.96M 95.57K 99.57K -4.0
$6.94M 10.66K 10.64K +0.2
$6.88M 100.55K 99.11K +1.5
$6.79M 61.72K 59.03K +4.5
Holdings list only includes long positions. Only includes long positions.

Calendar

10 May 21
30 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 187.9M 187.9M 187.9M 187.9M 187.9M 187.9M
Cash burn (monthly) 1.67M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 6.66M n/a n/a n/a n/a n/a
Cash remaining 181.24M n/a n/a n/a n/a n/a
Runway (months of cash) 108.9 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Jul 21 Patrick A Sherman Common Stock Buy Aquire P No No 42.258 11.832 500 48,506.534
30 Jun 21 Susan W Brooks Common Stock Grant Aquire A No No 41.67 431 17.96K 817
30 Jun 21 Patrick A Sherman Common Stock Grant Aquire A No No 41.67 468 19.5K 48,494.702
30 Jun 21 Chaffin H Douglas Common Stock Grant Aquire A No No 41.67 449 18.71K 37,203
30 Jun 21 Becher Michael R Common Stock Grant Aquire A No No 41.67 487 20.29K 14,682
30 Jun 21 Lehman Gary Common Stock Grant Aquire A No No 41.67 431 17.96K 43,105.819

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

73.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 188 181 +3.9%
Opened positions 22 31 -29.0%
Closed positions 15 28 -46.4%
Increased positions 64 61 +4.9%
Reduced positions 68 61 +11.5%
13F shares
Current Prev Q Change
Total value 1.87B 1.52B +23.3%
Total shares 40.16M 40.54M -0.9%
Total puts 0 0
Total calls 5.1K 0 NEW
Total put/call ratio
Largest owners
Shares Value Change
Vanguard 5.13M $238.62M +2.0%
BLK Blackrock 4.17M $194.02M +6.0%
Earnest Partners 3.01M $140.01M +9.2%
Dimensional Fund Advisors 2.69M $125.16M -3.7%
Cardinal Capital Management 2.39M $111.25M +7.8%
STT State Street 1.67M $77.46M +14.2%
GS Goldman Sachs 1.5M $69.96M -8.9%
BK Bank Of New York Mellon 1.24M $57.72M +2.2%
Geode Capital Management 919.3K $42.75M +9.5%
NTRS Northern Trust 875.34K $40.7M -27.4%
Largest transactions
Shares Bought/sold Change
Norges Bank 0 -605.24K EXIT
NTRS Northern Trust 875.34K -330.4K -27.4%
Pier Capital 0 -268.12K EXIT
Earnest Partners 3.01M +253.09K +9.2%
BLK Blackrock 4.17M +237.81K +6.0%
STT State Street 1.67M +207.51K +14.2%
Monarch Partners Asset Management 179.77K +179.77K NEW
Cardinal Capital Management 2.39M +173.28K +7.8%
Phocas Financial 162.77K +162.77K NEW
Renaissance Technologies 75.2K -158K -67.8%

Financial report summary

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Management Discussion
  • Net income available to stockholders for the year ended December 31, 2020 was $148.6 million compared to $164.5 million during the same period in 2019. Earnings per fully diluted common share for 2020 totaled $2.74 compared to $3.19 during the same period in 2019.
  • As of December 31, 2020, total assets equaled $14.1 billion, an increase of $1.6 billion, or 12.9 percent, from December 31, 2019. The Corporation's total loan portfolio increased $778.8 million, or 9.2 percent from December 31, 2019. At December 31, 2020, the Corporation's PPP loan portfolio totaled $667.1 million, net of $12.5 million of deferred processing fee income and costs, which were primarily included in the commercial and industrial loan class. Other loan segments that experienced large increases from December 31, 2019 were commercial real estate, non-owner occupied and public finance and other commercial loans. The largest loan segments that experienced a decrease were real estate construction and home equity loans. Additional details of the changes in the Corporation's loans are discussed within NOTE 5. LOANS AND ALLOWANCE of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K, and the "LOAN QUALITY" section of this Management's Discussion and Analysis of Financial Condition and Results of Operations.
  • Interest-bearing deposits increased $274.0 million from December 31, 2019 due to excess liquidity from deposit growth and an increase in wholesale funding. Additionally, total investment securities increased $550.7 million, or 21.2 percent, from December 31, 2019 as a portion of the excess liquidity from deposit growth and additional wholesale funding was used to invest in the bond portfolio. Also contributing to the increase in investment securities was a $62.1 million increase in net unrealized gains on the available for sale portfolio. The net increase in unrealized gains from December 31, 2019 to December 31, 2020 is primarily due to interest rate declines in 2020 as the longer term points on the yield curve have declined since year-end, which increases the fair value of securities in the portfolio. Additional details of the changes in the Corporation's investment securities portfolio are discussed within NOTE 4. INVESTMENT SECURITIES of the Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K.
Content analysis
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