XML 62 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Loans receivable:    
Taxable $ 43,551frme_InterestAndFeeIncomeLoansAndLeasesTaxable $ 42,025frme_InterestAndFeeIncomeLoansAndLeasesTaxable
Tax exempt 248frme_InterestAndFeeIncomeLoansAndLeasesTaxExempt 61frme_InterestAndFeeIncomeLoansAndLeasesTaxExempt
Investment securities:    
Taxable 4,723us-gaap_InterestIncomeSecuritiesTaxable 4,810us-gaap_InterestIncomeSecuritiesTaxable
Tax exempt 3,835us-gaap_InterestIncomeSecuritiesTaxExempt 3,438us-gaap_InterestIncomeSecuritiesTaxExempt
Deposits with financial institutions 37us-gaap_InterestIncomeDepositsWithFinancialInstitutions 23us-gaap_InterestIncomeDepositsWithFinancialInstitutions
Federal Reserve and Federal Home Loan Bank stock 550frme_InterestIncomeFederalReserveAndFederalHomeLoanBankStock 652frme_InterestIncomeFederalReserveAndFederalHomeLoanBankStock
Total Interest Income 52,944us-gaap_InterestAndDividendIncomeOperating 51,009us-gaap_InterestAndDividendIncomeOperating
INTEREST EXPENSE    
Deposits 3,516us-gaap_InterestExpenseDeposits 2,549us-gaap_InterestExpenseDeposits
Federal funds purchased 23us-gaap_InterestExpenseFederalFundsPurchased 49us-gaap_InterestExpenseFederalFundsPurchased
Securities sold under repurchase agreements 78us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase 196us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase
Federal Home Loan Bank advances 691us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm 682us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesLongTerm
Subordinated debentures and term loans 1,660us-gaap_InterestExpenseDebt 1,641us-gaap_InterestExpenseDebt
Total Interest Expense 5,968us-gaap_InterestExpense 5,117us-gaap_InterestExpense
NET INTEREST INCOME 46,976us-gaap_InterestIncomeExpenseNet 45,892us-gaap_InterestIncomeExpenseNet
Provision for loan losses      
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 46,976us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 45,892us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss
OTHER INCOME    
Service charges on deposit accounts 3,548us-gaap_FeesAndCommissionsDepositorAccounts 3,551us-gaap_FeesAndCommissionsDepositorAccounts
Fiduciary activities 2,507us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities 2,212us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities
Other customer fees 3,667us-gaap_FeesAndCommissionsOther 3,733us-gaap_FeesAndCommissionsOther
Commission income 2,328us-gaap_InsuranceCommissionsAndFees 2,268us-gaap_InsuranceCommissionsAndFees
Earnings on cash surrender value of life insurance 747us-gaap_BankOwnedLifeInsuranceIncome 748us-gaap_BankOwnedLifeInsuranceIncome
Net gains and fees on sales of loans 1,489us-gaap_GainLossOnSalesOfLoansNet 723us-gaap_GainLossOnSalesOfLoansNet
Net realized gains on sales of available for sale securities 1,025us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet 581us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet
Other income 921us-gaap_NoninterestIncomeOtherOperatingIncome 1,618us-gaap_NoninterestIncomeOtherOperatingIncome
Total Other Income 16,232us-gaap_NoninterestIncome 15,434us-gaap_NoninterestIncome
OTHER EXPENSES    
Salaries and employee benefits 24,541us-gaap_LaborAndRelatedExpense 25,301us-gaap_LaborAndRelatedExpense
Net occupancy 3,790us-gaap_OccupancyNet 3,938us-gaap_OccupancyNet
Equipment 2,566us-gaap_EquipmentExpense 2,739us-gaap_EquipmentExpense
Marketing 780us-gaap_MarketingExpense 769us-gaap_MarketingExpense
Outside data processing fees 1,717us-gaap_InformationTechnologyAndDataProcessing 1,831us-gaap_InformationTechnologyAndDataProcessing
Printing and office supplies 364us-gaap_NoninterestExpensePrintingAndFulfillment 458us-gaap_NoninterestExpensePrintingAndFulfillment
Core deposit amortization 721us-gaap_AmortizationOfIntangibleAssets 592us-gaap_AmortizationOfIntangibleAssets
FDIC assessments 863us-gaap_FederalDepositInsuranceCorporationPremiumExpense 1,060us-gaap_FederalDepositInsuranceCorporationPremiumExpense
Other real estate owned and foreclosure expenses 1,229us-gaap_ForeclosedRealEstateExpense 1,757us-gaap_ForeclosedRealEstateExpense
Professional and other outside services 1,491us-gaap_ProfessionalAndContractServicesExpense 1,379us-gaap_ProfessionalAndContractServicesExpense
Other expenses 3,140us-gaap_OtherNoninterestExpense 3,265us-gaap_OtherNoninterestExpense
Total Other Expenses 41,202us-gaap_NoninterestExpense 43,089us-gaap_NoninterestExpense
INCOME BEFORE INCOME TAX 22,006us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 18,237us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense 5,834us-gaap_IncomeTaxExpenseBenefit 4,617us-gaap_IncomeTaxExpenseBenefit
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 16,172us-gaap_NetIncomeLoss $ 13,620us-gaap_NetIncomeLoss
Per Share Data:    
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.43us-gaap_EarningsPerShareBasic $ 0.38us-gaap_EarningsPerShareBasic
Diluted Net Income Available to Common Stockholders (in dollars per share) $ 0.43us-gaap_EarningsPerShareDiluted $ 0.38us-gaap_EarningsPerShareDiluted
Cash Dividends Paid (in dollars per share) $ 0.08us-gaap_CommonStockDividendsPerShareCashPaid $ 0.05us-gaap_CommonStockDividendsPerShareCashPaid
Average Diluted Shares Outstanding (in thousands) 38,000,074us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 36,260,624us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding