First Merchants Q3 net income rises to $67.8 million; CEO to retire at year-end
First Merchants reported third-quarter 2026 net income available to common stockholders of $67.8 million, or $1.09 per diluted share, up from $56.3 million, or $0.98 per share, a year earlier and $43.5 million, or $0.70, in the second quarter. The company also announced that President Mike Stewart will succeed Mark Hardwick as chief executive upon Mr. Hardwick's retirement at year-end 2026.
Key points
- Q3 2026 diluted EPS was $1.09 versus $0.98 in Q3 2025; adjusted EPS was $1.10 versus $0.99 a year earlier.
- Net interest margin was 3.44%, up 6 basis points from the prior quarter and up 20 basis points from Q3 2025.
- Nine-month 2026 diluted EPS was $2.24 versus $2.90 a year earlier, reflecting a $29.8 million first-quarter negative mortgage loan valuation adjustment.
- Mike Stewart will succeed Mark Hardwick as CEO upon Mr. Hardwick's retirement at year-end 2026.
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 21, 2026.
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