First Merchants Corporation
ir.firstmerchants.comWhat Do They Do?
Provides commercial and consumer banking, residential mortgage, and wealth management services to businesses, consumers, and personal wealth clients.
10-K for FY2025, filed Feb 25, 2026Through the Bank, the Corporation offers a broad range of commercial and consumer banking services to meet the diverse needs of our…View ↗
How Do They Make Money?
Borrowers pay interest on loans, and the bank earns interest from securities. Customers pay fees for deposit accounts, wealth services, and card transactions; deposit fees are charged as transactions occur or monthly, wealth fees are generally assessed monthly or quarterly, and card fees arise as transactions are processed.
10-K for FY2025, filed Feb 25, 2026Average Balance Interest Income /Expense AverageRate Average Balance Interest Income /Expense AverageRate Average Balance Interest Income…View ↗
Service charges on deposit accounts: The Corporation earns fees from its deposit customers for transaction-based, account maintenance and…View ↗
Fiduciary activities: This represents monthly fees due from wealth management customers as consideration for managing the customers’…View ↗
Interchange income: The Corporation earns interchange fees from debit and credit cardholder transactions conducted through the Visa and…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service (Other income) ↗
$924.8M
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10-K for FY2025, filed Feb 25, 2026
$924.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Service charges on deposit accounts
|
36%
FY2022: 34%
|
Service charges on deposit accounts, FY2025
$34.3M Sources
|
|
|
Fiduciary and wealth management fees
|
38%
FY2022: 36%
|
Fiduciary and wealth management fees, FY2025
$35.5M Sources
|
|
|
Card payment fees
Usage-based
|
21%
FY2022: 24%
|
Card payment fees, FY2025
$19.8M Sources
|
Usage-based |
|
Derivative hedge fees
|
3.6%
FY2022: 4.1%
|
Derivative hedge fees, FY2025
$3.4M Sources
|
|
|
Other customer fees
|
1.6%
FY2022: 2.3%
|
Other customer fees, FY2025
$1.5M Sources
|
Who Are Their Customers?
Commercial and consumer customers use the bank’s business, deposit, lending, and mortgage services; wealth clients use personal wealth management. Customers can access services through banking locations and electronic and mobile channels.
10-K for FY2025, filed Feb 25, 2026
Do Revenues Turn Into Profits?
Yes. It kept 24 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 25, 2026
10-K for FY2025, filed Feb 25, 2026
$226MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 31, 2026
Open tableView ↗
Growing. Revenue grew 2.1x in 4 years, from $446.6M in FY2021 to $924.8M in FY2025, about 20% a year.
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