First Merchants Results Presentation Deck
Non-GAAP
ADJUSTED EPS EXCLUDING PAYCHECK PROTECTION PROGRAM ("PPP") AND ACQUISITION-RELATED EXPENSES
(Dollars in Thousands, Except Per Share Amounts)
Net Income Available to Common Stockholders - GAAP
Adjustments:
PPP loan income
Acquisition-related expenses
Acquisition-related provision expense
Tax on adjustment
Adjusted Net Income Available to Common Stockholders - NON-GAAP
Average Diluted Common Shares Outstanding
Diluted Earnings Per Common Share - GAAP
Adjustments:
PPP loan income
(Dollars in Thousands, Except Per Share Amounts)
Net Interest Income (GAAP)
Other Income (GAAP)
Total Revenue
Less: Other Expenses (GAAP)
Add: Acquisition-Related Expenses (GAAP)
Pre-Tax, Pre-Provision Earnings (non-GAAP)
Average Assets (GAAP)
Average Equity (GAAP)
Average Diluted Common Shares
PTPP/Average Assets (PTPP ROA)
PTPP/Average Equity (PTPP ROE)
PTPP/Average Diluted Common Shares
$
$
$
$
$
$
Acquisition-related expenses
Acquisition-related provision expense
Tax on adjustment
Adjusted Diluted Earnings Per Common Share - NON-GAAP
PRE-TAX, PRE-PROVISION ("PTPP") EARNINGS EXCLUDING ACQUISITION-RELATED EXPENSES
2Q22
$
(891)
38,522 $ 63,283 $ 70,292 $ 63,610 $
59,308
2Q22
First Merchants Corporation
Helping you prosper
12,549
16,755
(6,967)
(759)
59,968 $ 65,618 $
0.63 $
(0.01)
0.22
0.30
(0.13)
1.01 $
3Q22
1.62%
14.28%
(323)
3,417
1.22 $
59,339
1.08 $
0.05
3Q22
4Q22
(109)
413
1.73%
15.25%
(75)
70,521 $
1.30 $
59,384
(0.01)
1.12 $ 1.19 $
1.19 $
(0.01)
0.01
4Q22
1Q23
(25)
1.88%
17.12%
6
63,591 $
1.41 $
59,441
1.07 $
1.07 $
1Q23
2Q23
128,661 $
28,277
140,307 $
29,616
156,938
169,923
(96,378)
(97,313)
12,549
3,417
72,174 $ 76,962 $ 83,821 $ 75,396 $ 71,561
$ 17,778,221 $17,770,623 $17,834,468
$18,022,195 $18,170,649
$ 2,021,123 $ 2,018,156 $ 1,958,041 $ 2,083,125 $ 2,139,877
59,308
59,339
59,384
59,441
59,448
60,393
1.67%
14.48%
(9)
2
60,386
1.27 $
59,448
148,956 $ 144,119 $ 137,835
24,151
24,997
26,319
173,107
169,116
164,154
(89,699)
(93,720)
(92,593)
413
1.02
2Q23
1.02 $
6/30/21 YTD 6/30/22 YTD 6/30/23 YTD
1.58%
13.38%
1.20
$ 105,028 $ 87,108 $ 124,003
(2,775)
12,701
16,755
4,651 (6,542)
8
$ 90,711 $ 107,247 $ 123,977
(18,968)
$
54,159
$
1.94 $
(0.35)
6/30/21 YTD
$
0.08
1.67 $
56,516
1.54
1.71%
13.48%
(0.05)
0.22
0.30
(0.12)
1.89
$
$
6/30/22 YTD
$ 204,692 $
54,975
230,941 $
54,174
259,667
285,115
(135,393) (169,638)
2.29 $
(34)
59,446
1.54%
13.10%
2.09
6/30/23 YTD
12,701
124,274 $ 128,178 $ 146,957
$ 14,503,087 $16,627,804 $18,096,832
$ 1,843,250 $ 1,956,532 $ 2,111,658
54,159
56,516
59,446
2.09
2.27 $
281,954
51,316
333,270
(186,313)
1.62%
13.92%
2.47
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