First Merchants Q3 Earnings Beat Estimates With $68.3 Million Net Income, Revenue Tops Forecasts

First Merchants Corp. (FRME) on Wednesday reported third-quarter net income of $68.3 million, with earnings that exceeded Wall Street expectations. The Muncie, Indiana-based bank posted earnings of $1.09 per share, or $1.10 per share adjusted for one-time gains and costs. The average estimate of four analysts surveyed by Zacks Investment Research was $1.04 per share. Revenue totaled $302 million for the period, while revenue net of interest expense came to $205.3 million, also surpassing Street forecasts. Three analysts surveyed by Zacks had expected $204 million.