FRME - NASDAQ
First Merchants Corporation
$38.90
-1.6%First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corporate services. It operates 109 banking locations in Indiana, Illinois, Ohio, and Michigan counties. The company also offers its services through electronic and mobile delivery channels. First Merchants Corporation was founded in 1893 and is headquartered in Muncie, Indiana.
At a Glance
Live SnapshotFirst Merchants Corporation Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.
FCF Growth Trend
Steady FCF growth indicates consistent cash generation improvement. On a positive trajectory.
Working Capital Impact
Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.
Cash Flow Quality Insight
Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.
First Merchants Corporation Cash Flow Statement
FRME • NASDAQ
| First Merchants Corporation Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||||||||||||||
226M | 201.4M | 223.8M | 222.1M | 205.5M | 148.6M | 164.5M | 159.1M | 96.1M | 81.1M | 65.4M | 60.2M | 44.5M | 45.1M | 25.3M | 6.9M | -40.8M | 20.6M | 31.6M | 30.2M | |
29.4M | 26.8M | 11.7M | 11.8M | 10.7M | 11M | 9.4M | 8.8M | 8M | 7.2M | 6.3M | 6M | 4.7M | 4.5M | 5.2M | 5.7M | 6M | 4.6M | 4.3M | 5.4M | |
2.2M | 1.6M | 6.6M | 9.1M | 7M | -9.7M | 5M | 3.5M | 15.5M | 8.6M | 4.4M | 15M | 2.1M | 15.9M | 8.3M | -1.8M | -10.9M | -8.7M | 0.0 | 0.0 | |
7.3M | 5.8M | 5.2M | 4.7M | 4.8M | 4.6M | 4.1M | 3.6M | 2.8M | 2.6M | 2.3M | 2.2M | 1.8M | 1.5M | 1.3M | 1.8M | 2.3M | 1.9M | 0.0 | 0.0 | |
24.6M | 33.1M | 16M | 58.9M | -4M | 62.9M | 1.9M | 11.7M | 14.8M | 9.7M | -15.8M | -8.3M | 20.9M | 2.9M | 45.9M | 67.8M | 61M | 27.7M | 12M | 2.4M | |
(20.7M) | (7.6M) | (34.8M) | (13.8M) | (31.2M) | (33.2M) | (23.6M) | (23.3M) | (22.4M) | (12M) | (21.2M) | (6.2M) | (7.6M) | (11.7M) | (3M) | (17.7M) | (3.2M) | (18.4M) | (0.0) | (0.0) | |
-5.9M | -2.6M | -4.4M | -22.2M | -8.6M | -13.6M | -8.1M | -6.6M | -10.7M | -5.4M | -5.9M | 787K | 109.1M | 433K | -386K | 695K | 25K | -7.1M | 1.6M | -1.7M | |
283.6M | 266.2M | 258.8M | 284.3M | 215.3M | 204.8M | 178.4M | 180.2M | 126.5M | 103.7M | 56.7M | 75.8M | 183.1M | 70.3M | 85.5M | 81.1M | 17.6M | 39M | 49.6M | 36.3M | |
INVESTING ACTIVITIES | ||||||||||||||||||||
(0.0) | -243.5M | (0.0) | (137.8M) | -2.9M | (0.0) | (10.2M) | (0.0) | (54.5M) | (0.0) | (7.2M) | -10.1M | (11M) | (29.1M) | (0.0) | (0.0) | (0.0) | (6.9M) | -370K | -59K | |
-67.7M | -124.4M | -50.2M | -755.3M | -2.1B | -1.3B | -1.1B | -400.7M | -509.3M | -392.3M | -287.4M | -253.9M | -409.6M | -143.8M | -283.4M | -491.8M | -551.5M | -29.3M | -79.6M | -100.8M | |
164.9M | 395.7M | 549.3M | 963.4M | 688M | 827.2M | 401.7M | 298.5M | 237.2M | 360.2M | 245.4M | 264.3M | 197M | 232.6M | 182M | 224.3M | 482.2M | 116.2M | 95.7M | 71.9M | |
-870.9M | -280.2M | -843.5M | -808.6M | -72.2M | -1.1B | -318.1M | -473.4M | -417.8M | -416.6M | -305.5M | -126.3M | 63.5M | -106M | 73.2M | 377.3M | 327.9M | -234M | -213.4M | -269M | |
-773.8M | -252.4M | -344.4M | -462.7M | -1.5B | -1.6B | -1B | -575.6M | -635.3M | -448.7M | -340.4M | -126M | -138.2M | (11.9M) | -28.2M | (109.9M) | (258.5M) | -140.2M | -197.6M | -298M | |
FINANCING ACTIVITIES | ||||||||||||||||||||
-43.5M | -53.9M | 2.2M | 2.1M | -23.6M | -54.2M | -17.5M | -691K | -292K | -1.1M | -979K | -544K | -166K | -33K | 21.1M | 24.2M | 1.2M | -394K | -10.3M | -2.4M | |
-158.3M | 129.4M | -285.2M | 485.5M | -50.7M | -47.8M | -43.9M | -162.3M | 64M | 125.3M | 120.8M | -111.3M | 131.7M | -132.9M | 54M | -62.9M | -168.1M | -87.1M | 126.1M | -67.5M | |
-84.8M | -83.5M | -81.9M | -74.2M | -61.2M | -56.5M | -51.3M | -41.7M | -31.8M | -22.2M | -15.7M | -10.7M | -8M | -7.4M | -4.7M | -5.9M | -14.3M | -16.8M | -16.9M | -17M | |
-46.9M | -56.2M | (0.0) | (0.0) | -25.4M | -55.9M | -19M | -1.9M | -1.3M | -2M | -1.6M | -1.1M | -91.3M | -235K | -69.7M | -76K | -193K | -2.2M | -12.8M | (0.0) | |
773.2M | -30.8M | 440.6M | -279.6M | 1.4B | 1.5B | 977.8M | 585.6M | 501M | 269.6M | 163.7M | 182.4M | -69.8M | 86.3M | -133.9M | -267.1M | -182.2M | 221.1M | 93.7M | 368.1M | |
486.7M | -38.8M | 75.6M | 133.8M | 1.2B | 1.4B | 865.9M | 379.7M | 535.8M | 370.7M | 267.3M | 59.3M | -37M | -54M | -42.3M | -311.7M | -247.4M | 117M | 192.7M | 281.3M | |
CASH FLOW SUMMARY | ||||||||||||||||||||
-3.5M | -25M | -9.9M | -44.6M | -25.8M | 15.7M | 38M | -15.7M | 27M | 25.8M | -16.4M | 9.2M | 8M | 28.1M | 15M | -120.8M | 28.7M | 15.8M | 44.7M | 19.5M | |
87.6M | 112.6M | 122.6M | 167.1M | 192.9M | 177.2M | 139.2M | 154.9M | 127.9M | 102.2M | 118.6M | 109.4M | 101.5M | 73.3M | 58.3M | 179.1M | 150.5M | 134.7M | 90M | 70.4M | |
84.2M | 87.6M | 112.6M | 122.6M | 167.1M | 192.9M | 177.2M | 139.2M | 154.9M | 127.9M | 102.2M | 118.6M | 109.4M | 101.5M | 73.3M | 58.3M | 179.1M | 150.5M | 134.7M | 90M | |
283.6M | 266.2M | 258.8M | 284.3M | 215.3M | 204.8M | 176.7M | 180.2M | 126.5M | 103.7M | 56.7M | 75.8M | 183.1M | 70.3M | 85.5M | 81.1M | 17.6M | 39M | 49.6M | 36.3M |
SEC Filings
FRME - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | May 20, 2026 | May 19, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 19, 2026 | May 19, 2026 | 2026 | |
8-K 8-K 2026 N/A | May 19, 2026 | May 19, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | May 01, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 22, 2026 | April 22, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 16, 2026 | April 16, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | April 03, 2026 | May 19, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 25, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | February 10, 2026 | February 10, 2026 | 2026 | |
8-K 8-K 2026 N/A | February 09, 2026 | February 09, 2026 | 2026 |
Related Guides
Continue your FRME research with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.