First Merchants Investor Presentation Deck
Non-GAAP
RETURN ON TANGIBLE COMMON EQUITY (dollars in thousands):
Return on Tangible Common Equity
Total Average Stockholders' Equity (GAAP)
Less: Average Preferred Stock
Less: Average Intangible Assets, Net of Tax
Average Tangible Common Equity, Net of Tax (non-GAAP)
Net Income Available to Common Stockholders (GAAP)
Plus: Intangible Asset Amortization, Net of Tax
Tangible Net Income (non-GAAP)
Return on Tangible Common Equity (non-GAAP)
Return on Tangible Common Equity
Total Average Stockholders' Equity (GAAP)
Less: Average Preferred Stock
Less: Average Intangible Assets, Net of Tax
Average Tangible Common Equity, Net of Tax (non-GAAP)
Net Income Available to Common Stockholders (GAAP)
Plus: Intangible Asset Amortization, Net of Tax
Tangible Net Income (non-GAAP)
Return on Tangible Common Equity (non-GAAP)
2012
14.04%
2013
2021
$ 535,506 $ 540,255 $ 675,295 $ 753,724 $ 884,664
(90,908) (47,537) (125)
(147,889) (153,519) (199,354)
$ 296,709 $ 339,199 $ 475,816
$ 40,583 $ 42,150 $ 60,162 $ 65,384 $ 81,051 $
1,081
892
1,395
1,720
2,542
$ 41,664 $ 43,042 $ 61,557 $ 67,104 $ 83,593 $
12.69%
16.17%
2014
3Q22
First Merchants Corporation
Helping you prosper
2015
12.94%
20.85%
2022 YTD
2016
12.47%
(125)
(125)
(215,281) (254,332)
$ 538,318 $ 630,207 $ 750,394 $ 876,315 $1,069,868 $1,255,633 $1,290,740
$1,110,524 $1,343,861 $1,569,615 $1,825,135 $1,858,680
(125)
(125)
(125)
(125)
(125)
(360,005) (467,421) (499,622) (569,377) (567,815)
4Q22
16.22%
13.26%
2017
2022
24.21%
2018
13.29%
96,070 $ 159,139 $ 164,460 $ 148,600 $ 157,798
3,670
5,307
4,736
4,730
3,384
99,740 $ 164,446 $ 169,196 $ 153,330 $ 161,182
1Q23
18.12%
2019
18.77%
2Q23
19.82%
2020
15.81%
(25,125)
(25,125)
$1,866,632 $2,018,156 $1,977,299 $1,958,041 $1,972,445 $2,083,125 $2,139,877 $2,154,232 $2,126,005
(125)
(25,125) (16,792) (25,125) (18,875) (25,125)
(25,125)
(567,512) (744,069) (685,707) (741,632) (699,803) (739,190) (737,489) (735,787) (737,476)
$1,298,995 $1,248,962 $1,274,800 $1,191,284 $1,253,767 $1,318,810 $1,377,263 $1,393,320 $1,363,404
5,182
$ 205,531 $ 63,283 $ 150,391 $ 70,292 $ 220,683 $ 63,610 $ 60,393 $ 55,898 $ 179,901
4,540
1,819
4,718
1,819
6,537
1,734
1,724
1,724
72,111 $ 227,220 $ 65,344 $ 62,117 $ 57,622
$ 185,083
$ 210,071 $ 65,102 $ 155,109 $
3Q23
18.04%
2021 YTD
12.21%
16.65%
16.54%
2023 YTD
18.10%
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