MUNCIE, Ind. (AP) — MUNCIE, Ind. (AP) — First Merchants Corp. (FRME) on Wednesday reported third-quarter profit of $56.8 million.
The bank, based in Muncie, Indiana, said it had earnings of 98 cents per share. Earnings, adjusted for one-time gains and costs, came to 99 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The bank posted revenue of $267.6 million in the period. Its revenue net of interest expense was $166.1 million, which did not meet Street forecasts.
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