Headquartered within the financial services sector, First Merchants Corporation focuses on Banks - Regional services and products. First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides commercial and consumer banking services. With a market capitalization of $2.81B, it sits in mid-cap territory. The company offers a range of financial services, including checking, savings, and deposit products; debit and credit cards; mortgages, refinance, construction or renovation of residential properties, agricultural lending, treasury management services and depository products.
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The company holds $320.9M in cash, though total debt stands at $1.69B. This level of leverage is common in the industry but worth monitoring as interest rate conditions evolve. ROE of 8.0% points to modest capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. ROA of 1.0% is on the lower side, which is common in asset-heavy industries. Revenue has been relatively flat, moving from $628.1M (2022) to $662.9M (2025).
The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for First Merchants Corporation and its sector.