First Merchants (FRME) Q4 Earnings Preview: Revenue Decline Expected

First Merchants Corporation (NASDAQ: FRME) will report its fourth-quarter 2025 earnings after the market closes on Monday, January 26, 2026. Analysts forecast an 11% year-over-year revenue decline to $173.1 million and adjusted earnings of $0.95 per share. The regional bank has missed Wall Street's revenue estimates in five of the last eight quarters. Peer results from the sector have been strong; ServisFirst Bancshares and Dime Community Bancshares recently posted significant revenue beats, driving their stocks up over 12%. First Merchants' stock price was flat over the past month, compared to a 1.9% average sector gain, heading into the report with an average analyst price target of $45.60.