First Merchants (FRME) Revenue & Revenue Breakdown

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First Merchants Revenue Highlights

Latest Revenue (Y)

$1.05B

Latest Revenue (Q)

$235.09M

Main Segment (Y)

Fiduciary and Trust

First Merchants Revenue by Period

First Merchants Revenue by Year

Date	Revenue	Change
2025-12-31	$1.05B	-0.32%
2024-12-31	$1.05B	5.41%
2023-12-31	$999.49M	40.19%
2022-12-31	$712.95M	28.24%
2021-12-31	$555.96M	-0.44%
2020-12-31	$558.43M	1.15%
2019-12-31	$552.09M	13.97%
2018-12-31	$484.40M	25.52%
2017-12-31	$385.90M	21.16%
2016-12-31	$318.51M	13.13%
2015-12-31	$281.55M	4.01%
2014-12-31	$270.69M	19.33%
2013-12-31	$226.85M	-5.58%
2012-12-31	$240.25M	4.29%
2011-12-31	$230.37M	-7.16%
2010-12-31	$248.12M	-13.96%
2009-12-31	$288.37M	11.55%
2008-12-31	$258.52M	-4.70%
2007-12-31	$271.28M	11.54%
2006-12-31	$243.22M	14.77%
2005-12-31	$211.93M	10.65%
2004-12-31	$191.53M	0.05%
2003-12-31	$191.43M	10.17%
2002-12-31	$173.76M	25.03%
2001-12-31	$138.98M	4.37%
2000-12-31	$133.16M	15.72%
1999-12-31	$115.07M	7.44%
1998-12-31	$107.10M	8.95%
1997-12-31	$98.30M	26.35%
1996-12-31	$77.80M	123.56%
1995-12-31	$34.80M	4.50%
1994-12-31	$33.30M	3.74%
1993-12-31	$32.10M	-

First Merchants generated $1.05B in revenue during NA 2025, up -0.32% compared to the previous quarter, and up 188.06% compared to the same period a year ago.

First Merchants Revenue by Quarter

Date	Revenue	Change
2025-09-30	$235.09M	-9.93%
2025-06-30	$261.03M	3.35%
2025-03-31	$252.57M	-1.88%
2024-12-31	$257.40M	-3.21%
2024-09-30	$265.95M	-0.66%
2024-06-30	$267.71M	1.97%
2024-03-31	$262.54M	-0.34%
2023-12-31	$263.43M	2.51%
2023-09-30	$256.98M	3.75%
2023-06-30	$247.68M	7.04%
2023-03-31	$231.40M	7.56%
2022-12-31	$215.13M	11.49%
2022-09-30	$192.96M	13.89%
2022-06-30	$169.42M	25.09%
2022-03-31	$135.44M	-0.30%
2021-12-31	$135.84M	-4.37%
2021-09-30	$142.05M	-1.46%
2021-06-30	$144.16M	7.66%
2021-03-31	$133.91M	-4.83%
2020-12-31	$140.71M	6.28%
2020-09-30	$132.39M	-2.46%
2020-06-30	$135.73M	-9.27%
2020-03-31	$149.61M	-0.31%
2019-12-31	$150.07M	7.00%
2019-09-30	$140.25M	4.47%
2019-06-30	$134.25M	5.28%
2019-03-31	$127.53M	-0.24%
2018-12-31	$127.83M	2.82%
2018-09-30	$124.33M	4.42%
2018-06-30	$119.06M	5.20%
2018-03-31	$113.18M	15.70%
2017-12-31	$97.83M	5.09%
2017-09-30	$93.09M	14.17%
2017-06-30	$81.53M	7.50%
2017-03-31	$75.84M	1.81%
2016-12-31	$74.49M	-0.07%
2016-09-30	$74.54M	3.04%
2016-06-30	$72.35M	2.22%
2016-03-31	$70.78M	11.30%
2015-12-31	$63.59M	-5.40%
2015-09-30	$67.22M	2.79%
2015-06-30	$65.40M	3.47%
2015-03-31	$63.21M	-0.32%
2014-12-31	$63.41M	-4.15%
2014-09-30	$66.16M	6.62%
2014-06-30	$62.05M	1.59%
2014-03-31	$61.08M	8.66%
2013-12-31	$56.21M	15.13%
2013-09-30	$48.82M	-3.72%
2013-06-30	$50.71M	-4.92%
2013-03-31	$53.34M	1.65%
2012-12-31	$52.47M	-3.15%
2012-09-30	$54.17M	5.77%
2012-06-30	$51.22M	-12.86%
2012-03-31	$58.77M	19.58%
2011-12-31	$49.15M	0.14%
2011-09-30	$49.08M	4.63%
2011-06-30	$46.91M	-1.73%
2011-03-31	$47.73M	-2.75%
2010-12-31	$49.09M	3.59%
2010-09-30	$47.38M	-0.29%
2010-06-30	$47.52M	-4.32%
2010-03-31	$49.67M	-0.87%
2009-12-31	$50.10M	-10.15%
2009-09-30	$55.76M	9.74%
2009-06-30	$50.81M	-4.08%
2009-03-31	$52.97M	34.33%
2008-12-31	$39.43M	-7.16%
2008-09-30	$42.47M	-0.08%
2008-06-30	$42.51M	2.83%
2008-03-31	$41.34M	3.27%
2007-12-31	$40.03M	-

First Merchants generated $235.09M in revenue during Q3 2025, up -9.93% compared to the previous quarter, and up 87.82% compared to the same period a year ago.

First Merchants Revenue Breakdown

First Merchants Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 25	Dec 24	Dec 23	Dec 22	Dec 21
Fiduciary and Trust	$35.49M	$34.22M	$30.84M	$29.69M	$28.36M
Financial Service, Other	$1.54M	$1.55M	$1.88M	$1.94M	$1.49M
Credit Card	$19.79M	$19.32M	$18.86M	$20.21M	$16.62M
Deposit Account	$34.26M	$32.61M	$30.84M	$28.37M	$23.57M
Derivative Hedging	$3.38M	$3.08M	$3.38M	$3.39M	$3.85M

First Merchants's latest annual revenue breakdown by segment (product or service), as of Dec 25: Fiduciary and Trust (37.57%), Deposit Account (36.27%), Credit Card (20.95%), Derivative Hedging (3.58%), and Financial Service, Other (1.64%).

Quarterly Revenue by Product

Product/Service	Dec 25	Sep 25	Jun 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Sep 21	Jun 21	Mar 21	Sep 20	Jun 20
Financial Service, Other	$730.00K	$414.00K	$401.00K	$316.00K	$344.00K	$460.00K	$427.00K	$237.00K	$384.00K	$742.00K	$517.00K	$362.00K	$501.00K	$662.00K	$410.00K	$393.00K	$368.00K	$368.00K	$372.00K	$333.00K
Fiduciary and Trust	$17.82M	$8.84M	$8.83M	$8.66M	$8.53M	$8.82M	$8.20M	$8.19M	$7.39M	$7.40M	$7.86M	$7.50M	$7.22M	$7.63M	$7.33M	$7.35M	$7.51M	$6.42M	$5.91M	$5.60M
Derivative Hedging	$1.46M	$1.10M	$831.00K	$1.59M	$736.00K	$489.00K	$263.00K	$1.05M	$516.00K	$672.00K	$1.15M	$326.00K	$700.00K	$1.44M	$918.00K	$1.03M	$943.00K	$317.00K	$1.72M	$1.04M
Deposit Account	$16.78M	$8.92M	$8.57M	$8.12M	$8.36M	$8.21M	$7.91M	$7.69M	$7.97M	$7.81M	$7.36M	$7.10M	$7.17M	$7.69M	$6.42M	$6.25M	$5.60M	$5.26M	$5.21M	$4.31M
Credit Card	$9.85M	$5.01M	$4.93M	$4.96M	$5.12M	$4.74M	$4.50M	$4.44M	$4.72M	$4.54M	$5.17M	$4.53M	$4.78M	$5.17M	$5.72M	$4.16M	$4.16M	$4.37M	$4.00M	$6.10M

First Merchants's latest quarterly revenue breakdown by segment (product or service), as of Dec 25: Fiduciary and Trust (38.21%), Deposit Account (35.97%), Credit Card (21.12%), Derivative Hedging (3.12%), and Financial Service, Other (1.57%).

First Merchants Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
HTH	Hilltop	$1.63B	$200.26M
CUBI	Customers Bancorp	$1.41B	$365.05M
FFBC	First Financial Ban	$1.26B	$344.57M
TRMK	Trustmark	$1.12B	$383.28M
FRME	First Merchants	$1.05B	$235.09M
BUSE	First Busey	$1.04B	$178.42M
EFSC	Enterprise Financial Services	$912.39M	$-325.26M
NBTB	NBT Bancorp	$867.43M	$238.77M
BANR	Banner	$819.49M	$170.72M
SYBT	Stock Yards Bancorp	$564.54M	$120.27M
FBNC	First Bancorp	$543.12M	$127.88M

FRME Revenue FAQ

What is First Merchants’s yearly revenue?

First Merchants's yearly revenue for 2025 was $1.05B, representing a decrease of -0.32% compared to 2024. The company's yearly revenue for 2024 was $1.05B, representing an increase of 5.41% compared to 2023. FRME's yearly revenue for 2023 was $999.49M, representing an increase of 40.19% compared to 2022.

What is First Merchants’s quarterly revenue?

First Merchants's quarterly revenue for Q3 2025 was $235.1M, a -9.93% decrease from the previous quarter (Q2 2025), and a -11.60% decrease year-over-year (Q3 2024). The company's quarterly revenue for Q2 2025 was $261.03M, a 3.35% increase from the previous quarter (Q1 2025), and a -2.50% decrease year-over-year (Q2 2024). FRME's quarterly revenue for Q1 2025 was $252.57M, a -1.88% decrease from the previous quarter (Q4 2024), and a -3.80% decrease year-over-year (Q1 2024).

What is First Merchants’s revenue growth rate?

First Merchants's revenue growth rate for the last 3 years (2023-2025) was 5.07%, and for the last 5 years (2021-2025) was 88.90%.

What are First Merchants’s revenue streams?

First Merchants's revenue streams in c 25 are Fiduciary and Trust, Financial Service, Other, Credit Card, Deposit Account, and Derivative Hedging. Fiduciary and Trust generated $35.49M in revenue, accounting 37.57% of the company's total revenue, up 3.73% year-over-year. Financial Service, Other generated $1.54M in revenue, accounting 1.64% of the company's total revenue, down -0.13% year-over-year. Credit Card generated $19.79M in revenue, accounting 20.95% of the company's total revenue, up 2.45% year-over-year. Deposit Account generated $34.26M in revenue, accounting 36.27% of the company's total revenue, up 5.08% year-over-year. Derivative Hedging generated $3.38M in revenue, accounting 3.58% of the company's total revenue, up 9.83% year-over-year.

What is First Merchants’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of First Merchants was Fiduciary and Trust. This segment made a revenue of $35.49M, representing 37.57% of the company's total revenue.