First Merchants (FRME) Beats Q4 Earnings Estimates Despite 8.3% Revenue Decline

First Merchants Corporation (NASDAQ: FRME) reported Q4 CY2025 non-GAAP earnings of $0.98 per share, exceeding analyst estimates by 3%, despite an 8.3% year-over-year revenue decline to $178.4 million. The results were driven by strong loan growth and disciplined expense management. CEO Mark Hardwick noted $197 million in linked-quarter loan growth from commercial and consumer segments. The company anticipates mid-to-high single-digit loan growth for 2026 and targets 27.5% cost savings from its First Savings Group acquisition. First Merchants stock traded at $38.11 following the January 27 announcement, nearly unchanged from pre-earnings levels.