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
Website
CEO
Michael Rechin
Employees
Incorporated
Location
Fiscal year end
Sector
Industry (SIC)
SEC CIK
Corporate docs
IRS number
351544218
FRME stock data
()
News
Benzinga's Top Ratings Upgrades, Downgrades For July 29, 2021
29 Jul 21
Janney Montgomery Scott Upgrades First Merchants to Buy, Announces $48 Price Target
29 Jul 21
Raymond James Maintains Outperform on First Merchants, Lowers Price Target to $47
28 Jul 21
Recap: First Merchants Q2 Earnings
26 Jul 21
Earnings Scheduled For July 26, 2021
26 Jul 21
Investment data
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
Financial summary
Quarter (USD) |
Mar 21 | Dec 20 | Sep 20 | Jun 20 | |
|---|---|---|---|---|---|
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| Net profit margin | |||||
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| 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 | |||||
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| 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 |
Recent insider trades
| 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 |
Institutional ownership Q1 2021
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 |
|---|---|
| Total holders | 188 |
| Opened positions | 22 |
| Closed positions | 15 |
| Increased positions | 64 |
| Reduced positions | 68 |
13F shares |
Current |
|---|---|
| Total value | 1.87B |
| Total shares | 40.16M |
| Total puts | 0 |
| Total calls | 5.1K |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| Vanguard | 5.13M | $238.62M |
| BLK Blackrock | 4.17M | $194.02M |
| Earnest Partners | 3.01M | $140.01M |
| Dimensional Fund Advisors | 2.69M | $125.16M |
| Cardinal Capital Management | 2.39M | $111.25M |
| STT State Street | 1.67M | $77.46M |
| GS Goldman Sachs | 1.5M | $69.96M |
| BK Bank Of New York Mellon | 1.24M | $57.72M |
| Geode Capital Management | 919.3K | $42.75M |
| NTRS Northern Trust | 875.34K | $40.7M |
Financial report summary
?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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| Negative | ||
| Uncertain | ||
| Constraining | ||
| Legalese | ||
| Litigous | ||
| Readability |
H.S. sophomore V bad
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New words:
absorb, absorption, ACL, aforementioned, agricultural, Ameribor, American, August, BBB, behalf, beneficiary, broadly, bucket, budget, building, CAA, cancel, capture, clarification, complicating, contra, correlation, CRE, delivering, diagnosed, drawn, Econometric, encompassed, eviction, evolved, exhibit, extension, feasibility, heading, healthcare, incentivize, incremental, index, ineffective, inflation, intent, intraperiod, land, letter, LLC, mandatory, medical, moratorium, multiple, noncredit, overnight, owed, ownership, paper, par, predominant, published, purpose, ready, reinstitute, Rescue, respond, round, schedule, scope, seasonality, similarly, simplification, single, sound, spectrum, steadily, successfully, suggest, sum, surging, suspension, tailor, tandem, technological, unconditional, unique, vaccination, variant, vast, vi
Removed:
ABO, accretable, accreted, accretive, achieved, acquirer, adherence, advantage, ambiguity, annuity, approached, area, assumed, audit, authority, back, began, booked, borrowed, broader, Bureau, capitalizing, capped, ceased, certainty, CFPB, cloud, code, comprised, computing, concurrently, conformance, considerable, consummated, contemplating, convey, costly, cover, create, damage, declined, deductible, demographic, deny, development, DFI, DIF, difficult, disclose, discretion, disinfect, distort, documentation, doubt, downturn, driver, earmarked, education, effectively, effort, eliminate, employer, encouraged, enforcement, enroll, entitled, evidence, exact, examination, exceeding, exhausted, existed, Expanded, expectation, expired, explanation, failure, favorable, FDIC, fiduciary, fighting, FMC, focused, forbearance, forced, forgivable, forma, found, fraud, front, fund, generating, grouped, guaranty, guided, heighten, heightened, hosted, hosting, housing, identification, impose, improve, inadequate, informational, insured, interact, interchange, internally, issue, janitorial, July, key, larger, lead, lease, license, list, magnitude, Main, materiality, MBT, merger, migration, modifying, Monroe, MSELF, MSNLF, MSPLF, narrative, nationwide, nonaccretable, noncompliance, nonperforming, notified, occasion, offer, online, operate, OTTI, oversight, paragraph, parking, participate, passing, PBO, penalty, pension, perform, phase, phrase, posed, post, predict, preserve, prevent, prevention, Priority, pro, professional, profile, projection, promote, proposed, prospectively, protect, provisional, quickly, redeem, redeemed, redemption, reflective, regulated, rely, remain, removed, replacing, reputation, reputational, resolved, retrospectively, revenue, revert, rolling, rulemaking, satisfactory, scale, scoring, secondary, seeking, segmented, served, serviced, serving, simplify, software, sponsor, stated, Street, student, Subtopic, suffering, supervisory, supplemented, survived, surviving, target, test, thirty, timeframe, transit, uncollectable, underway, unit, unusual, unwarranted, vulnerable, watch, weighted, withstand
Financial reports
10-Q
2021 Q1
Quarterly report
10 May 21
10-K
2020 FY
Annual report
1 Mar 21
10-Q
2020 Q3
Quarterly report
9 Nov 20
10-Q
2020 Q2
Quarterly report
7 Aug 20
10-Q
2020 Q1
Quarterly report
8 May 20
10-K
2019 FY
Annual report
28 Feb 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-K/A
2019 FY
Annual report (amended)
27 Sep 19
10-Q
2019 Q2
Quarterly report
7 Aug 19
10-Q
2019 Q1
Quarterly report
10 May 19
Current reports
8-K
INVESTOR UPDATE Second Quarter 2021
26 Jul 21
8-K
First Merchants Corporation Announces Second Quarter 2021 Earnings Per Share
26 Jul 21
8-K/A
Departure of Directors or Certain Officers
13 May 21
8-K
Submission of Matters to a Vote of Security Holders
12 May 21
8-K
First Merchants Corporation Announces Cash Dividend
11 May 21
8-K
INVESTOR UPDATE First Quarter 2021
22 Apr 21
8-K
First Merchants Corporation Announces First Quarter 2021 Earnings Per Share
22 Apr 21
8-K
Departure of Directors or Certain Officers
12 Feb 21
8-K
Departure of Directors or Certain Officers
11 Feb 21
8-K
First Merchants Corporation Announces Cash Dividend
10 Feb 21
Registration and prospectus
424B3
Prospectus supplement
17 Jul 20
S-8
Registration of securities for employees
26 Jun 19
425
Business combination disclosure
7 Feb 19
425
Business combination disclosure
7 Feb 19
S-3ASR
Automatic shelf registration
6 Feb 19
425
Business combination disclosure
4 Feb 19
424B3
Prospectus supplement
21 Dec 18
S-4/A
Registration of securities issued in business combination transactions (amended)
19 Dec 18
S-4
Registration of securities issued in business combination transactions
3 Dec 18
425
Business combination disclosure
10 Oct 18
Proxies
DEF 14A
Definitive proxy
1 Apr 21
DEF 14A
Definitive proxy
1 Apr 20
DEFA14A
Additional proxy soliciting materials
26 Apr 19
DEF 14A
Definitive proxy
21 Mar 19
DEF 14A
Definitive proxy
21 Mar 18
DEF 14A
Definitive proxy
20 Mar 17
PRE 14A
Preliminary proxy
6 Mar 17
DEF 14A
Definitive proxy
22 Mar 16
DEF 14A
Definitive proxy
24 Mar 15
DEF 14A
Definitive proxy
1 Apr 14
Other
EFFECT
Notice of effectiveness
24 Dec 18
UPLOAD
Letter from SEC
30 Aug 17
CORRESP
Correspondence with SEC
29 Aug 17
UPLOAD
Letter from SEC
7 Aug 17
EFFECT
Notice of effectiveness
4 May 17
CORRESP
Correspondence with SEC
2 May 17
UPLOAD
Letter from SEC
26 Apr 17
CORRESP
Correspondence with SEC
23 Apr 17
EFFECT
Notice of effectiveness
23 Apr 17
CORRESP
Correspondence with SEC
13 Apr 17
Ownership
13F-HR
Quarterly holdings report by institutional manager
26 Jul 21
4
FIRST MERCHANTS / JEAN L WOJTOWICZ ownership change
2 Jul 21
4
FIRST MERCHANTS / Howard Halderman ownership change
2 Jul 21
4
FIRST MERCHANTS / MICHAEL C RECHIN ownership change
2 Jul 21
4
FIRST MERCHANTS / CLARK C KELLOGG JR ownership change
2 Jul 21
4
FIRST MERCHANTS / MICHAEL J FISHER ownership change
2 Jul 21
4
FIRST MERCHANTS / Michael J Stewart ownership change
2 Jul 21
4
FIRST MERCHANTS / JEFFREY B LORENTSON ownership change
2 Jul 21
4
FIRST MERCHANTS / WILLIAM L HOY ownership change
2 Jul 21
4
FIRST MERCHANTS / Michael C Marhenke ownership change
2 Jul 21
Transcripts
2021 Q2
Earnings call transcript
26 Jul 21
2021 Q1
Earnings call transcript
23 Apr 21
2020 Q4
Earnings call transcript
29 Jan 21
2020 Q3
Earnings call transcript
28 Oct 20
2020 Q2
Earnings call transcript
24 Jul 20
2020 Q1
Earnings call transcript
23 Apr 20
2019 Q4
Earnings call transcript
30 Jan 20
2019 Q3
Earnings call transcript
26 Oct 19
2019 Q2
Earnings call transcript
26 Jul 19
2019 Q1
Earnings call transcript
28 Apr 19
Reddit threads
Daily Discussion Thread - July 26th, 2021
26 Jul 21
Daily Discussion Thread - July 23rd, 2021
23 Jul 21
Daily Discussion Thread - June 3rd, 2021
3 Jun 21
Daily Discussion Thread - June 2nd, 2021
2 Jun 21
Daily Discussion Thread - June 1st, 2021
1 Jun 21
Daily Discussion Thread - May 31st, 2021
31 May 21
Daily Discussion Thread - April 22nd, 2021
22 Apr 21
Daily Discussion Thread - April 21st, 2021
21 Apr 21
Daily Discussion Thread - April 20th, 2021
20 Apr 21
Daily Discussion Thread - April 19th, 2021
19 Apr 21