MUNCIE, Ind. (AP) — MUNCIE, Ind. (AP) — First Merchants Corp. (FRME) on Thursday reported fourth-quarter profit of $42.5 million.
The Muncie, Indiana-based bank said it had earnings of 71 cents per share. Earnings, adjusted for non-recurring costs, were 87 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 87 cents per share.
The bank posted revenue of $263.4 million in the period. Its revenue net of interest expense was $156.5 million, falling short of Street forecasts.
For the year, the company reported profit of $223.8 million, or $3.73 per share. Revenue was reported as $651 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