MUNCIE, Ind. (AP) — MUNCIE, Ind. (AP) — First Merchants Corp. (FRME) on Monday reported fourth-quarter earnings of $57.1 million.
The Muncie, Indiana-based bank said it had earnings of 99 cents per share. Earnings, adjusted for one-time gains and costs, came to 98 cents per share.
The results beat 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 $270.6 million in the period. Its revenue net of interest expense was $172.2 million, which also beat Street forecasts.
For the year, the company reported profit of $226 million, or $3.88 per share. Revenue was reported as $662.9 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRME at https://www.zacks.com/ap/FRME
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