First Merchants Corporation announced consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the fourth quarter, the company reported net income available to common stockholders of $15.260 million compared to $11.206 million in the fourth quarter of 2013. Diluted earnings per share available to common stockholders for the fourth quarter of 2014 increased by 21% totaling $0.41, compared to $0.34 per share in the 4th quarter of 2013. Total interest income was $53.053 million against $45.707 million a year ago. Net interest income was $47.160 million against $41.135 million a year ago. Net interest income after provision for loan losses was $46.200 million against $40.119 million a year ago. Income before income tax was $20.777 million against $14.634 million a year ago. Return on average assets was 1.06% against 0.91% a year ago. Return on average stockholders equity was 8.55% against 7.78% a year ago. Return on average common stockholders equity was 8.56% against 8.05% a year ago.

For the year, the company has recorded 2014 record net income available to common stockholders of $60.162 million, an increase of $18 million over 2013 net income of $42.150 million. Diluted earnings per share totaled available to common stockholders was $1.65, an increase of $0.24 and 17% over 2013 earnings per share of $1.41. Total interest income was $208.879 million against $170.834 million a year ago. Net interest income was $187.037 million against $154.265 million a year ago. Net interest income after provision for loan losses was $184.477 million against $147.617 million a year ago. Income before income tax was $81.552 million against $59.207 million a year ago. Return on average assets was 1.08% against 0.95% a year ago. Return on average stockholders equity was 8.91% against 7.80% a year ago. Return on average common stockholders equity was 8.91% against 8.55% a year ago. Tangible book value per share was $13.65 as on December 31, 2014 against $12.17 as on December 31, 2013. Higher net interest income on line 1, reductions in provision expense on line 2 and lower SPLF dividends on line 8 led to a 43% increase in net income and a 17% increase in EPS, given the increase in shares outstanding related to the acquisitions.

The company reported net charge-offs of $2.592 million for the fourth quarter ended December 31, 2014.