MUNCIE, Ind. (AP) _ First Merchants Corp. (FRME) on Tuesday reported second-quarter profit of $39 million.
The bank, based in Muncie, Indiana, said it had earnings of 63 cents per share. Earnings, adjusted for one-time gains and costs, were $1.01 per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The bank posted revenue of $169.4 million in the period. Its revenue net of interest expense was $156.9 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $151.6 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRME at https://www.zacks.com/ap/FRME