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)
2013
12.69%
$ 42,150 $ 60,162 $ 65,384
892
1,395
1,720
$ 43,042 $ 61,557 $ 67,104
12.47%
2021
(567,512)
$1,298,995
2014
$ 205,531 $
4,540
$ 210,071 $
$ 675,295 $ 753,724 $ 884,664 $1,110,524 $1,343,861 $1,569,615 $1,825,135
(125)
(125)
(125)
(125)
(125)
(125)
$ 540,255
(47,537)
(153,519) (199,354)
$ 339,199 $ 475,816
(125)
(215,281) (254,332) (360,005) (467,421) (499,622) (569,377)
$ 538,318
$630,207 $ 750,394 $ 876,315 $1,069,868 $1,255,633
96,070 $ 159,139 $164,460 $ 148,600
3,670
5,307
4,736
4,730
99,740 $ 164,446 $ 169,196 $ 153,330
16.17%
First Merchants Corporation
Helping you prosper
12.94%
2015
4Q22
24.21%
2022
2016
18.12%
$ 81,051 $
2,542
$ 83,593 $
13.26%
1Q23
2017
19.82%
13.29%
2Q23
2018
18.04%
18.77%
$1,866,632 $1,958,041 $1,972,445 $2,083,125 $2,139,877 $2,154,232 $2,130,993 $2,127,262
(125) (25,125) (18,875) (25,125) (25,125) (25,125) (25,125) (25,125)
(741,632) (699,803) (739,190) (737,489) (735,787) (734,007) (736,601)
$1,191,284 $1,253,767 $1,318,810 $1,377,263 $1,393,320 $1,371,861 $1,365,536
70,292 $ 220,683 $ 63,610 $ 60,393 $ 55,898 $ 42,010 $ 221,911
1,819
6,537
1,734
1,724
1,724
1,724
6,906
72,111 $ 227,220
65,344 $ 62,117 $ 57,622 $ 43,734 $ 228,817
3Q23
2019
16.54%
15.81%
4Q23
2020
12.75%
12.21%
2023
16.76%
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