MUNCIE, Ind. (AP) — MUNCIE, Ind. (AP) — First Merchants Corp. (FRME) on Wednesday reported second-quarter net income of $44 million.
The Muncie, Indiana-based bank said it had earnings of 70 cents per share. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.03 per share.
The bank posted revenue of $298 million in the period. Its revenue net of interest expense was $196.1 million, which beat Street forecasts.
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