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First Merchants: 3Q Earnings Snapshot

MUNCIE, Ind. (AP) _ First Merchants Corp. (FRME) on Wednesday reported third-quarter net income of $41.1 million.

The Muncie, Indiana-based bank said it had earnings of 83 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The bank posted revenue of $124.3 million in the period. Its revenue net of interest expense was $106 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $104.9 million.

First Merchants shares have decreased almost 3 percent since the beginning of the year. The stock has declined slightly more than 5 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