First Merchants: Q3 Earnings Snapshot

MUNCIE, Ind. (AP) — MUNCIE, Ind. (AP) — First Merchants Corp. (FRME) on Wednesday reported third-quarter net income of $68.3 million.

The Muncie, Indiana-based bank said it had earnings of $1.09 per share. Earnings, adjusted for one-time gains and costs, came to $1.10 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.

The bank posted revenue of $302 million in the period. Its revenue net of interest expense was $205.3 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $204 million.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRME at https://www.zacks.com/ap/FRME