NASDAQ · Finance

First Merchants Corp (FRME)

At September 30, 2026 it held $86.6M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 30, 2026.

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Price

$41.43

+1.47% on the day · November 9, 2026

52-week range $34.66 to $45.33

Market cap

$2.6B

P/E

10.7

on FY2025 diluted EPS

Key facts about First Merchants Corp

Net worth: First Merchants Corp has a market value (market cap) of $2.6B at the latest share price, and shareholders' equity of $2.6B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Cash flow: In fiscal 2025 operations brought in $283.6M of cash.
Latest report: The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 30, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
Next earnings report: First Merchants Corp's next report is expected around January 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
Dividend: First Merchants Corp paid dividends of $1.43 per share in fiscal 2025, a yield of 3.45% at the current price.

What First Merchants Corp does

First Merchants Corp is registered with the SEC under industry code SIC 6021 (National Commercial Banks). Its shares trade on NASDAQ under the ticker FRME.

Revenue and profit by year

Net income

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal year	Revenue	Operating income	Net income	Diluted EPS	Free cash flow
2025	n/a	n/a	$226M	$3.88	n/a
2024	n/a	n/a	$201.4M	$3.41	n/a
2023	n/a	n/a	$223.8M	$3.73	n/a
2022	n/a	n/a	$222.1M	$3.81	n/a
2021	n/a	n/a	$205.5M	$3.81	n/a
2020	n/a	n/a	$148.6M	$2.74	n/a

Earnings: every quarter and the next report date

Full financial statements: income, balance sheet and cash flow

Next report expected around January 25, 2027.

Estimated from its filing rhythm: 52 weeks after its report of January 26, 2026. Not a date the company has announced. See the report calendar · Earnings, quarter by quarter

Dividends

First Merchants Corp paid $1.43 per share in fiscal 2025. At the current price that is a yield of 3.45%. It paid out $82.9M in cash dividends, 37% of its net income.

Fiscal year	Per share	Paid out	Of profit
2025	$1.43	$82.9M	37%
2024	$1.39	$81.6M	41%
2023	$1.34	$80.1M	36%
2022	$1.25	$72.7M	33%
2021	$1.13	$61.2M	30%
2020	$1.04	$56.5M	38%

Per share as declared (or paid, where only that is reported), adjusted for stock splits the company itself restated. Yield is the latest fiscal year's dividend over the current price.

Latest SEC filings

What First Merchants Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.

October 30, 2026
Quarterly report 10-Q · period to September 30, 2026Diluted EPS $1.09 versus $0.98.
October 21, 2026
Quarterly results 8-K
October 15, 2026
Form 13F-HR filing 13F-HR
October 15, 2026
Other event 8-K
October 1, 2026
Executive or director change8-KFirst Merchants Corporation announced that Chief Executive Officer Mark K. Hardwick will retire on January 1, 2027, and President Michael J. Stewart will succeed him as President and CEO.
September 25, 2026
Material agreement8-KFirst Merchants Corporation entered into an indenture to issue $100 million of subordinated notes due in 2036.
September 24, 2026
Material agreement8-KFirst Merchants Corporation entered into an agreement to sell $100,000,000 of subordinated notes due in 2036.
September 23, 2026
Form 305B2 filing 305B2
September 17, 2026
Shelf registration to sell securities S-3ASR
August 14, 2026
Other event 8-K

Recent insider filings (Forms 3, 4 and 144): 10, the latest on October 2, 2026. Insider transactions on SEC

Insider trades

What the people running First Merchants Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.

Insiders sold $176.3K worth of shares in the last 90 days and bought none on the open market.

Bought (open market)

last 90 days

Sold

$176.3K

last 90 days

Net sold

4,080

$176.3K

Date	Insider	What	Shares	Price	Value	Filing
September 30, 2026	Wojtowicz Jean LDirector	Received as pay	785	$39.78	$31.2K	Form 4
September 30, 2026	Rechin Michael CDirector	Received as pay	608	$39.78	$24.2K	Form 4
September 30, 2026	Myers Larry WDirector	Received as pay	569	$39.78	$22.6K	Form 4
September 30, 2026	Becher Michael RDirector	Received as pay	608	$39.78	$24.2K	Form 4
September 30, 2026	Halderman HowardDirector	Received as pay	589	$39.78	$23.4K	Form 4
September 30, 2026	Fisher Michael JDirector	Received as pay	549	$39.78	$21.8K	Form 4
September 30, 2026	Kellogg Clark CDirector	Received as pay	569	$39.78	$22.6K	Form 4
September 30, 2026	Brooks Susan WDirector	Received as pay	569	$39.78	$22.6K	Form 4

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns FRME

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

Holder	Of class	Shares	Filed
Vanguard Portfolio Management13G, passive	5.37%	3,408,096	April 29, 2026
Vanguard Capital Management13G, passive	5.04%	3,199,084	April 29, 2026

Latest filings below 5%: The Vanguard Group 0% (March 26, 2026).

Largest institutional holders

Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 307 managers reported a position.

Holder	Shares	Value	Change on quarter
BlackRock, Inc.	5,324,728	$232.6M	+425,372
Dimensional Fund Advisors LP	3,689,776	$161.2M	+93,759
Vanguard Portfolio Management LLC	3,402,832	$148.7M	+43,798
Vanguard Capital Management LLC	2,720,680	$118.9M	-9,931
State Street Corp	2,551,308	$111.5M	+311,540
Earnest Partners LLC	2,174,024	$95M	-81,566
Geode Capital Management, LLC	1,670,991	$73M	+97,210
Nuveen, LLC	1,058,876	$46.3M	+15,553
Victory Capital Management Inc	1,042,728	$45.6M	+47,733
Systematic Financial Management LP	850,405	$37.2M	-11,590
First Trust Advisors LP	776,088	$33.9M	+50,829
Charles Schwab Investment Management Inc	711,910	$31.1M	-7,515
FJ Capital Management LLC	711,425	$31.1M	0
Goldman Sachs Group Inc	697,055	$30.5M	-440,130
Wellington Management Group Llp	696,621	$30.4M	-310,614
PL Capital Advisors, LLC	686,333	$30M	0
Northern Trust Corp	683,988	$29.9M	+30,629
Qube Research & Technologies Ltd	648,844	$28.3M	-1,555
Jpmorgan Chase & Co	639,609	$27.9M	+109,891
William Blair Investment Management, LLC	622,443	$27.2M	-167,439

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

21 insiders reported holding 958,374 shares in total, about $39.7M at the last price.

Holder	Shares	As of
Hardwick Mark KChief Executive Officer, Director	132,620	August 3, 2026
Stewart Michael JPresident	115,834	August 3, 2026
Rechin Michael CDirector	91,032	September 30, 2026
Myers Larry WDirector	90,838	September 30, 2026
Kawiecki MicheleChief Financial Officer	72,404	August 3, 2026
Martin JohnChief Credit Officer	71,549	August 3, 2026
Wojtowicz Jean LDirector	68,026	September 30, 2026
Lehman GaryDirector	53,775	March 31, 2026
Peterson Joseph CChief Commercial Officer	45,482	August 3, 2026
Scurlock Eva D.Chief Risk Officer	31,523	August 3, 2026

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about FRME

What does First Merchants Corp do?

First Merchants Corp is a company in the Finance sector, listed on NASDAQ as FRME. Its shares trade on NASDAQ under the ticker FRME.

What is First Merchants Corp's net worth?

First Merchants Corp has a market value (market cap) of $2.6B at the latest share price, and shareholders' equity of $2.6B on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.

Is First Merchants Corp profitable?

Yes. Over the twelve months to September 30, 2026 it reported net income of $197.5M.

When did First Merchants Corp last report?

Its most recent periodic report is the quarterly report (10-Q) filed on October 30, 2026. It covers the period to September 30, 2026.

When is First Merchants Corp's next earnings report?

First Merchants Corp's next report is expected around January 25, 2027. That is an estimate from its filing rhythm, not a date the company has announced.

Does First Merchants Corp pay a dividend?

Yes. First Merchants Corp paid dividends of $1.43 per share in fiscal 2025, a yield of 3.45% at the current price.

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Where the numbers come from

Financial figures are the values First Merchants Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.