- First Merchants press release (NASDAQ:FRME): Q4 Non-GAAP EPS of $1.19 beats by $0.03.
- Revenue of $173.11M (+620.1% Y/Y) misses by $5.97M.
- Total loans grew $344.1 million, or 11.8% annualized on a linked quarter basis, excluding the forgiveness of $6.5 million in Paycheck Protection Program (“PPP”) loans.
- Total deposits declined $52.1 million, or 1.4% annualized on a linked quarter basis.
- Nonaccrual loans totaled $42.3 million compared to $43.5 million on a linked quarter basis.
- The efficiency ratio totaled 48.60% for the quarter.