First Merchants reports loss in Q3

Tue. November 03, 2009; Posted: 06:56 AM

Look up the PowerRating of FRME and see how it has performed over the past week as well as the current proprietary PowerRating.

Nov 03, 2009 (Datamonitor via COMTEX) -- FRME | Quote | Chart | News | PowerRating -- First Merchants Corporation, a financial holding company, has reported a net loss available to common stockholders of $6.4 million, or $0.30 per share, for the third quarter ended September 30, 2009, compared to a net income available to common stockholders of $5.75 million, or $0.32 per share, for the third quarter ended September 30, 2008.

For the third quarter of 2009, net interest income rose to $38.85 million from $33.25 million for the third quarter of 2008.

For the first nine months ended September 30, 2009, the company has reported a net loss available to common stockholders of $34.07 million, or $1.62 per share, compared to a net income available to common stockholders of $20.42 million, or $1.13 per share, for the first nine months ended September 30, 2008.

For the first nine months of 2009, net interest income was $115.78 million, compared to $96.24 million for the same period of 2008.

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