Banner Corporation (BANR) vs First Merchants Corporation (FRME)
A side-by-side comparison of Banner Corporation and First Merchants Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.
Total return — BANR vs FRME
growth of $100 · dividends reinvested · last 10yBANR vs FRME: by the numbers
- •FRME is the larger company ($2.50B vs $2.29B market cap).
- •BANR trades at the lower trailing earnings multiple (11.13 vs 12.74 P/E), one valuation lens rather than an overall verdict.
- •BANR converts more revenue to profit (31.24% vs 17.08% net margin).
- •FRME grew revenue faster over the past five years (14.59% vs 1.01% CAGR).
- •FRME pays the higher dividend yield (3.67% vs 3.03%).
Metrics side by side
Valuation
| Metric | BANR | FRME |
|---|---|---|
| P/E ratio | 11.13 | 12.74 |
| Forward P/E | 11.32 | 12.27 |
| PEG ratio | 0.96 | 1.77 |
| P/S ratio | 3.44 | 2.30 |
| P/B ratio | 1.15 | 0.94 |
Profitability
| Metric | BANR | FRME |
|---|---|---|
| Operating margin | 29.45% | 18.95% |
| Net margin | 31.24% | 17.08% |
| ROE | 10.42% | 6.89% |
Banner Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
First Merchants Corporation: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
Dividends
| Metric | BANR | FRME |
|---|---|---|
| Dividend yield | 3.03% | 3.67% |
| Payout ratio | 33.66% | 46.65% |
Growth (annualized)
| Metric | BANR | FRME |
|---|---|---|
| Revenue CAGR (5Y) | 1.01% | 14.59% |
| EPS CAGR (5Y) | 11.50% | 7.24% |
| Total return CAGR (5Y) | 6.88% | 2.27% |
Frequently asked
- Which has the lower trailing P/E, BANR or FRME?
- BANR has the lower trailing P/E: BANR trades at 11.13 and FRME at 12.74. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, BANR or FRME?
- Over the past five years, FRME grew revenue faster — BANR at a 1.01% CAGR versus FRME at 14.59%.
- Does BANR or FRME pay a bigger dividend?
- BANR yields 3.03% and FRME yields 3.67% based on trailing dividends and the latest price.
- Is BANR or FRME more profitable?
- BANR runs the higher net margin — BANR at 31.24% versus FRME at 17.08%.
- How have BANR and FRME total returns compared?
- Over the past 10 years, BANR delivered 7.87% and FRME delivered 7.20% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Banner & First Merchants appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.