First Merchants Corporation (FRME) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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FRME Revenue Growth
Revenue Breakdown (FY 2025)
FRME's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
FRME Revenue Analysis (2014–2025)
As of May 8, 2026, First Merchants Corporation (FRME) generated trailing twelve-month (TTM) revenue of $1.05 billion, reflecting modest growth of +4.8% year-over-year. The most recent quarter (Q4 2025) recorded $269.8 million in revenue, up 0.8% sequentially.
Looking at the longer-term picture, FRME's 5-year compound annual growth rate (CAGR) stands at +13.5%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $1.05 billion in 2024.
Revenue diversification analysis shows FRME's business is primarily driven by Fiduciary and Trust (38%), Deposit Account (36%), and Credit Card (21%).
When compared to Financial Services sector peers including WTFC, IBCP, and FFIN. Compare FRME vs WTFC →
FRME Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FRMECurrent | $1.1B | +4.8% | +13.5% | 24.7% | |
 WTFC | $4.2B | - | - | 26.4% | |
 IBCP | $315M | - | - | 25.8% | |
 FFIN | $739M | - | - | 36.8% | |
 MBWM | $372M | - | - | 27.5% | |
 NBTB | $867M | - | - | 25.3% |
FRME Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $1.05B | - | $640.2M | 61.0% | $259.1M | 24.7% |
| 2024 | $1.05B | - | $591.0M | 56.1% | $231.7M | 22.0% |
| 2023 | $999.5M | - | $647.5M | 64.8% | $259.2M | 25.9% |
| 2022 | $712.9M | - | $611.4M | 85.8% | $255.7M | 35.9% |
| 2021 | $556.0M | - | $520.0M | 93.5% | $240.8M | 43.3% |
| 2020 | $558.4M | - | $433.4M | 77.6% | $170.0M | 30.4% |
| 2019 | $552.1M | - | $440.5M | 79.8% | $193.8M | 35.1% |
| 2018 | $484.4M | - | $408.1M | 84.2% | $188.1M | 38.8% |
| 2017 | $385.9M | - | $339.1M | 87.9% | $133.6M | 34.6% |
| 2016 | $318.5M | - | $286.0M | 89.8% | $108.7M | 34.1% |
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Start ComparisonFRME — Frequently Asked Questions
Quick answers to the most common questions about buying FRME stock.
Is FRME's revenue growth accelerating or slowing?
FRME revenue growth slowed to +4.8%, below the 5-year CAGR of +13.5%. TTM revenue is $1.1B. The deceleration marks a shift from historical growth rates.
What is FRME's long-term revenue growth rate?
First Merchants Corporation's 5-year revenue CAGR of +13.5% reflects the variable expansion pattern. Current YoY growth of +4.8% is near this long-term average.
How is FRME's revenue distributed by segment?
FRME reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.