Filing Flows › First Merchants (FRME) › Q2 2026 › vs Q2 2025
First Merchants (FRME) Q2 2026 vs Q2 2025 (year over year)
First Merchants's revenue rose $31.8M (+19%) from $164M in Q2 2025 to $196M in Q2 2026. The biggest changes: Net interest income +$25.9M (+19%); Noninterest income +$5.9M (+19%). Operating margin 24.4% against 39.6% (-15.3 pts).
First Merchants, Q2 2026: revenue $196M (+19% year over year), operating margin 24.4%, net earnings $44.0M, operating cash flow $88.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 24.4% | 39.6% | -15.3 pts |
| Net margin | 22.4% | 34.6% | -12.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Net interest income | $159M | $133M | $25.9M | +19% |
| Noninterest income | $37.2M | $31.3M | $5.9M | +19% |
| Revenue | $196M | $164M | $31.8M | +19% |
| Operating profit | $47.8M | $65.1M | −$17.4M | -27% |
| Costs & expenses | $148M | $99.2M | $49.1M | +50% |
| Pre-tax earnings | $47.8M | $65.1M | −$17.4M | -27% |
| Credit loss provision | $33.0M | $5.6M | $27.4M | +489% |
| Noninterest expense | $115M | $93.6M | $21.7M | +23% |
| Net earnings | $44.0M | $56.8M | −$12.9M | -23% |
| Income tax | $3.8M | $8.3M | −$4.5M | -55% |
| Depreciation & amortization | $9.3M | $7.9M | $1.4M | +18% |
| Share-based compensation | $1.9M | $1.6M | $284K | +18% |
| Working capital & other | $32.9M | −$12.6M | $45.5M | — |
| Operating cash flow | $88.0M | $53.7M | $34.4M | +64% |
Questions
How much did First Merchants's revenue grow year over year in Q2 2026?
First Merchants's revenue rose $31.8M (+19%) from $164M in Q2 2025 to $196M in Q2 2026.
What drove First Merchants's revenue change in Q2 2026?
Net interest income +$25.9M (+19%); Noninterest income +$5.9M (+19%).