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First Merchants: 2Q Earnings Snapshot

MUNCIE, Ind. (AP) _ First Merchants Corp. (FRME) on Wednesday reported second-quarter earnings of $39.6 million.

The Muncie, Indiana-based bank said it had earnings of 80 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.

The bank posted revenue of $119.1 million in the period. Its revenue net of interest expense was $102.8 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $101.6 million.

First Merchants shares have increased 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.25, a rise of 15 percent in the last 12 months.


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