Business description of FIRST-MERCHANTS-CORP from last 10-k form

 
2
 
(Dollars in Thousands, Except Share Data)
2011
2010
2009
2008
2007
Operations (1)
Operations (1)
Net Interest Income Fully Taxable Equivalent (FTE) Basis
Net Interest Income Fully Taxable Equivalent (FTE) Basis
$
$
149,114
149,114
149,434
149,434
159,068
159,068
133,083
133,083
117,247
117,247
Less Tax Equivalent Adjustment
Less Tax Equivalent Adjustment
5,759
5,759
5,865
5,865
5,722
5,722
3,699
3,699
4,127
4,127
Net Interest Income
Net Interest Income
143,355
143,355
143,569
143,569
153,346
153,346
129,384
129,384
113,120
113,120
Provision for Loan Losses
Provision for Loan Losses
22,630
22,630
46,483
46,483
122,176
122,176
28,238
28,238
8,507
8,507
Net Interest Income After Provision for Loan Losses
Net Interest Income After Provision for Loan Losses
120,725
120,725
97,086
97,086
31,170
31,170
101,146
101,146
104,613
104,613
Total Other Income
Total Other Income
49,120
49,120
48,544
48,544
51,201
51,201
36,367
36,367
40,551
40,551
Total Other Expenses
Total Other Expenses
135,938
135,938
142,311
142,311
151,558
151,558
108,792
108,792
102,182
102,182
Income (Loss) Before Income Tax Expense (Benefit)
Income (Loss) Before Income Tax Expense (Benefit)
33,907
33,907
3,319
3,319
(69,187
(69,187
)
)
28,721
28,721
42,982
42,982
Income Tax Expense (Benefit)
Income Tax Expense (Benefit)
8,655
8,655
(3,590
(3,590
(28,424
(28,424
8,083
8,083
11,343
11,343
Net Income (Loss)
Net Income (Loss)
25,252
25,252
6,909
6,909
(40,763
(40,763
20,638
20,638
31,639
31,639
Gain on Exchange of Preferred Stock to Trust Preferred Debt
Gain on Exchange of Preferred Stock to Trust Preferred Debt
11,353
11,353
Loss on CPP Unamortized Discount
Loss on CPP Unamortized Discount
(1,401
(1,401
(1,301
(1,301
Loss on Extinguishment of Trust Preferred Securities
Loss on Extinguishment of Trust Preferred Securities
(10,857
(10,857
Preferred Stock Dividends and Discount Accretion
Preferred Stock Dividends and Discount Accretion
(3,981
(3,981
(5,239
(5,239
(4,979
(4,979
Net Income (Loss) Available to Common Stockholders
Net Income (Loss) Available to Common Stockholders
9,013
9,013
11,722
11,722
(45,742
(45,742
Per Share Data
Per Share Data
Basic Net Income (Loss) Available to Common Stockholders
Basic Net Income (Loss) Available to Common Stockholders
0.34
0.34
0.48
0.48
(2.17
(2.17
1.14
1.14
1.73
1.73
Diluted Net Income (Loss) Available to Common Stockholders
Diluted Net Income (Loss) Available to Common Stockholders
Cash Dividends Paid - Common
Cash Dividends Paid - Common
0.04
0.04
0.47
0.47
0.92
0.92
December 31 Book Value - Common
December 31 Book Value - Common
14.83
14.83
15.11
15.11
16.55
16.55
18.69
18.69
18.88
18.88
December 31 Tangible Book Value - Common
December 31 Tangible Book Value - Common
9.64
9.64
9.21
9.21
9.25
9.25
10.93
10.93
11.60
11.60
December 31 Market Value (Bid Price) - Common
December 31 Market Value (Bid Price) - Common
8.47
8.47
8.86
8.86
5.94
5.94
22.21
22.21
27.84
27.84
Average Balances (1)
Average Balances (1)
Total Assets
Total Assets
4,143,850
4,143,850
4,271,715
4,271,715
4,674,590
4,674,590
3,811,166
3,811,166
3,639,772
3,639,772
Total Loans (2)
Total Loans (2)
2,748,684
2,748,684
3,050,850
3,050,850
3,546,316
3,546,316
3,002,628
3,002,628
2,794,824
2,794,824
Total Deposits
Total Deposits
3,175,762
3,175,762
3,337,747
3,337,747
3,603,509
3,603,509
2,902,902
2,902,902
2,752,443
2,752,443
Securities Sold Under Repurchase Agreements (long-term portion)
Securities Sold Under Repurchase Agreements (long-term portion)
12,773
12,773
24,250
24,250
34,250
34,250
23,813
23,813
Total Federal Home Loan Bank Advances
Total Federal Home Loan Bank Advances
110,729
110,729
107,753
107,753
243,105
243,105
237,791
237,791
259,463
259,463
Total Subordinated Debentures, Revolving Credit Lines and Term Loans
Total Subordinated Debentures, Revolving Credit Lines and Term Loans
133,673
133,673
126,650
126,650
110,826
110,826
107,752
107,752
104,680
104,680
Total Stockholders' Equity
Total Stockholders' Equity
478,440
478,440
470,379
470,379
477,148
477,148
349,594
349,594
330,786
330,786
Year-End Balances (1)
Year-End Balances (1)
4,173,076
4,173,076
4,170,848
4,170,848
4,480,952
4,480,952
4,784,155
4,784,155
3,782,087
3,782,087
2,731,279
2,731,279
2,857,152
2,857,152
3,277,824
3,277,824
3,726,247
3,726,247
2,880,578
2,880,578
3,134,655
3,134,655
3,268,880
3,268,880
3,536,536
3,536,536
3,718,811
3,718,811
2,884,121
2,884,121
10,000
10,000
138,095
138,095
82,684
82,684
129,749
129,749
360,217
360,217
294,101
294,101
194,974
194,974
226,440
226,440
194,790
194,790
135,826
135,826
115,826
115,826
514,467
514,467
454,408
454,408
463,785
463,785
395,903
395,903
339,936
339,936
Financial Ratios (1)
Financial Ratios (1)
Return on Average Assets
Return on Average Assets
0.22
0.22
%
%
0.27
0.27
-0.98
-0.98
0.54
0.54
0.87
0.87
Return on Average Stockholders' Equity
Return on Average Stockholders' Equity
1.88
1.88
2.49
2.49
(9.59
(9.59
5.90
5.90
9.56
9.56
Average Earning Assets to Total Assets
Average Earning Assets to Total Assets
90.35
90.35
90.42
90.42
94.74
94.74
72.39
72.39
90.15
90.15
Allowance for Loan Losses as % of Total Loans
Allowance for Loan Losses as % of Total Loans
2.60
2.60
2.90
2.90
2.81
2.81
1.33
1.33
0.98
0.98
Dividend Payout Ratio
Dividend Payout Ratio
11.76
11.76
8.33
8.33
n/m
n/m
(3)
(3)
80.70
80.70
53.18
53.18
Average Stockholders' Equity to Average Assets
Average Stockholders' Equity to Average Assets
11.55
11.55
11.01
11.01
10.21
10.21
9.17
9.17
9.09
9.09
Tax Equivalent Yield on Earning Assets
Tax Equivalent Yield on Earning Assets
4.99
4.99
5.32
5.32
5.56
5.56
6.44
6.44
7.10
7.10
Cost of Supporting Liabilities
Cost of Supporting Liabilities
1.01
1.01
1.45
1.45
1.82
1.82
3.55
3.55
Net Interest Margin on Earning Assets
Net Interest Margin on Earning Assets
3.98
3.98
3.87
3.87
3.74
3.74
3.84
3.84