First Merchants Results 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
$ 535,506 $540,255 $ 675,295
(47,537)
(125)
(153,519) (199,354)
(90,908)
(147,889)
$ 296,709 $ 339,199 $ 475,816
14.04%
2013
2021
16.17%
2014
2Q22
$ 42,150 $ 60,162 $ 65,384 $ 81,051 $ 96,070 $ 159,139 $
$ 40,583
1,081
892
1,395
1,720
2,542
3,670
5,307
$ 61,557 $ 67,104 $ 83,593 $ 99,740 $ 164,446 $
$ 41,664 $ 43,042
12.69%
12.47%
13.26%
18.77%
First Merchants Corporation
Helping you prosper
12.94%
12.91%
2015
2022 YTD
2016
$ 205,531 $ 38,521 $ 87,108 $ 63,283 $
4,540
1,820
2,898
1,819
90,006 $ 65,102 $
$ 210,071 $ 40,341 $
3Q22
13.98%
2017
$ 753,724 $ 884,664 $1,110,524 $1,343,861 $ 1,569,615 $ 1,825,135 $ 1,843,250
(125)
(125)
(125)
(125)
(125)
(125)
(125)
(215,281) (254,332) (360,005) (467,421) (499,622) (569,377) (567,795)
$ 538,318 $630,207 $ 750,394 $ 876,315 $ 1,069,868 $ 1,255,633 $ 1,275,330
164,460 $ 148,600 $ 105,028
4,736
4,730
169,196 $ 153,330 $
2,228
107,256
20.85%
4Q22
2018
13.29%
2022
24.21%
2019
1Q23
$1,866,632 $2,021,123 $1,956,532 $2,018,156 $1,958,041 $1,972,445 $2,083,125 $2,139,877 $2,111,658
(125) (25,125) (12,625) (25,125) (25,125) (18,875) (25,125) (25,125) (25,125)
(567,512) (745,614) (656,042) (744,069) (741,632) (699,803) (739,190) (737,489) (738,334)
$1,298,995 $1,250,384 $1,287,865 $1,248,962 $1,191,284 $1,253,767 $1,318,810 $1,377,263 $1,348,199
18.12%
2020
15.81%
2Q23
12.21%
2021 YTD
16.82%
70,292 $ 220,683 $ 63,610 $ 60,393 $ 124,003
1,819
6,537
1,734
1,724
3,458
72,111 $ 227,220 $ 65,344 $ 62,117 $ 127,461
19.82%
18.04%
2023 YTD
18.91%
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