Filing Flows › First Merchants (FRME) › Q2 2026
First Merchants (FRME) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 31, 2026
First Merchants (FRME) reported revenue of $196M for the second quarter 2026 (Q2 2026), +19% from a year earlier and +25% from the quarter before. Operating margin was 24.4%, net earnings $44.0M (22.4% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $196M | +25% | +19% |
| Operating profit | $47.8M | +76% | -27% |
| Net earnings | $44.0M | +56% | -23% |
| Operating cash flow | $88.0M | +50% | +64% |
What changed
Revenue was $196.1M in Q2 2026, up 19% year over year and up 25% from the previous quarter. Net interest income was the largest line at 81% of revenue. Net interest income added $25.9M year over year (up 19%), 82% of the total change.
Operating profit was $47.8M, a 24.4% margin (down 15.3 points year over year). Operating profit fell $17.4M even though revenue rose $31.8M versus a year earlier, so costs grew faster than sales. Total costs grew 50% against revenue growth of 19%. The fastest-growing cost line was Credit loss provision (+489%). Net earnings were $44.0M, down 23% year over year. The effective tax rate was 7.9%.
Operating cash flow was $88.0M (up 64% year over year), 200% of net earnings. Non-cash charges added back $9.3M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items added $32.9M.
Questions
What was First Merchants' revenue in the second quarter 2026?
First Merchants (FRME) reported revenue of $196M for the second quarter 2026 (Q2 2026), +19% from a year earlier and +25% from the quarter before.
Was First Merchants profitable in the second quarter 2026?
Operating profit was $47.8M (24.4% of revenue) and net earnings $44.0M.
Source: First Merchants 10-Q on SEC EDGAR.