First Merchants Investor Presentation Deck
Third Quarter Financial Results
1.
2.
3.
4. Deposits
5.
8.
9.
10.
($M except per share data)
11.
12.
13.
Balance Sheet & Asset Quality
Total Assets
Total Loans
Investments
6.
TCE Ratio
7. Total RBC Ratio
14.
15.
16.
17.
18.
19.
Total Equity
ACL/Loans
NCOS / Avg Loans
NPAS + 90PD / Assets
Summary Income Statement
Net Interest Income
Provision for Loan Losses
Noninterest Income
Noninterest Expense
Pre-tax Income
Provision for Taxes
Net Income
Preferred Stock Dividends
Net Income Available to Common Stockholders
20.
ROAA
21.
ROAE
22. ROTCE
23.
24.
Net Interest Margin
Efficiency Ratio
Per Share
25.
Earnings per Diluted Share
26. Tangible Book Value per Share
27. Dividend per Share
28.
Dividend Payout Ratio
9/30/22 12/31/22 3/31/23 6/30/23 9/30/23
$17,719.0 $17,938.3 $18,178.9 $17,968.4 $17,996.6
11,675.4 12,013.0 12,250.9 12,297.5 12,302.4
4,294.8 4,263.8 4,057.4 3,891.5 3,713.7
14,434.8 14,382.7 14,703.3 14,581.2 14,646.6
1,906.7
2,034.8 2,122.4 2,145.6 2,092.6
6.66%
12.84
1.94
-0.01
0.29
$140.3
0.0
29.6
96.4
73.5
9.8
63.7
0.5
63.3
1.43%
For the Three Months Ended,
12.54
20.85
3.55
53.34
$1.08
19.26
0.32
29.6%
7.34%
13.08
1.86
0.12
0.28
1.59%
14.36
24.21
3.72
48.60
$149.0 $144.1
0.0
0.0
24.1
25.0
89.7
93.7
83.4
75.4
12.6
11.3
70.8
64.1
0.5
0.5
70.3
63.6
$1.19
21.45
0.32
26.9%
7.75%
First Merchants Corporation
Helping you prosper
13.23
1.82
0.01
0.34
1.42%
12.21
19.82
3.58
51.72
$1.07
22.93
0.32
29.9%
7.99%
13.48
1.80
0.06
0.43
$137.9
0.0
26.3
92.6
71.6
10.7
60.9
0.5
60.4
1.34%
11.29
18.04
3.39
52.21
$1.02
23.34
0.34
33.3%
7.69%
13.66%
1.67
0.66
0.33
$133.4
2.0
27.8
93.8
65.4
9.0
56.4
0.5
55.9
1.24%
10.38
16.54
3.29
53.91
$0.94
22.43
0.34
36.2%
Variance
Linked
Quarter
$28.2
4.9
(177.8)
65.4
(52.9)
-0.30%
0.18
-0.13
0.60
-0.10
-0.10%
-0.91
-1.50
-0.10
1.70
% Variance
Linked QTR-
Annualized
($4.5)
2.0
1.5
5.7%
1.2
1.3%
(6.2)
-8.7%
(1.7) -15.9%
(4.5)
-7.4%
0.0
(4.5)
($0.08)
(0.91)
0.00
2.8%
0.6%
0.2% ■
-18.3%
1.8%
-9.9%
-3.3%
-7.4%
■
■
■
■
3Q23 Highlights
53.91% Efficiency Ratio
reflecting strong operating
leverage
Net interest income, decreased
$4.5 million due to higher
funding cost and mix change
which offset higher earning
asset income
Pre-Tax, Pre-Provision (PTPP)
Earnings totaled $67.4 million
PTPP ROA was 1.48% and PTPP
ROE was 12.51%¹
TCE Ratio decreased 0.30% to
7.69% due to the impact of AOCI
Tangible Book Value per share
totaled $22.43, a decrease of
$0.91 from prior quarter
¹See "Non-GAAP Financial Information" for reconciliation
8View entire presentation