First Merchants Q2 Profit Rises

(RTTNews) - First Merchants Corp. (FRME) Thursday reported a second-quarter net income available to common stockholders of $10.0 million or $0.34 per share, compared to $8.1 million or $0.28 per share in the same period last year.

On average, three analysts polled by Thomson Reuters expected the company to earn $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Net-interest income increased to $36.7 million from $38.1 million last year. Meanwhile, provision for loan losses declined to $2.0 million from $4.5 million last year.

Other income totaled $14.1 million, up from $13.2 million in the comparable quarter last year.