First Merchants Corporation (NASDAQ:FRME) Q3 2022 Earnings Conference Call October 25, 2022 10:30 AM ET
Company Participants
Mark Hardwick - CEO
Mike Stewart - President
Michele Kawiecki - CFO
John Martin - Chief Credit Officer
Conference Call Participants
Scott Siefers - Piper Sandler
Daniel Tamayo - Raymond James
Damon DelMonte - KBW
Brian Martin - Janney
Operator
Good day and thank you for standing by. Welcome to the First Merchants Corporation Third Quarter Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.
Before we begin, management would like to remind you that today's call contains forward-looking statements with respect to the future performance and financial condition of First Merchants Corporation that involve risks and uncertainties. Further information is contained within the press release, which we encourage you to review.
Additionally, management may refer to non-GAAP measures, which are intended to supplement but not substitute for the most directly comparable GAAP measures. The press release available on the website contains financial and other quantitative information to be discussed today as well as a reconciliation of GAAP to non-GAAP measures.
I would now like to hand the conference over to your speaker today Mark Hardwick, Chief Executive Officer. Please go ahead.
Mark Hardwick
Good morning and welcome to the First Merchants third quarter 2022 conference call. Michele, thank you for the introduction and for covering the forward-looking statement on page 2. We released our earnings today at approximately 8:00 AM Eastern. You can access today's slides by following the link on the second page of our earnings release.
On Page 3, you will see today's presenters and our bios to include President, Mike Stewart; Chief Credit Officer, John Martin; and Chief Financial Officer, Michele Kawiecki. Page 4 is a snapshot of the First Merchants geographic footprint and some relevant financial highlights for your review.
Given the close of Level One Bancorp on April 1 of this year, you will notice an updated banking center map highlighting are now 122 locations across four states. We also continue to receive meaningful awards for customer service, leadership, work life balance and performance from publications like Forbes, Newsweek, S&P and comparable.
Now if you would turn to Slide 5, reported earnings per share for the third quarter totaled $1.08 compared to Q3 2021 results of $0.98, when adjusted for PPP income and Level One acquisition expenses, our Q3 2022 EPS totaled $1.12, an increase of $0.25 per share or $0.29 over Q3 2021's adjusted total of $0.87 per share.