Which has the lower trailing P/E, FBNC or FRME?

FRME has the lower trailing P/E: FBNC trades at 19.08 and FRME at 12.82. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FBNC or FRME?

Over the past five years, FRME grew revenue faster — FBNC at a 5.97% CAGR versus FRME at 14.59%.

Does FBNC or FRME pay a bigger dividend?

FBNC yields 1.54% and FRME yields 3.67% based on trailing dividends and the latest price.

Is FBNC or FRME more profitable?

FBNC runs the higher net margin — FBNC at 31.13% versus FRME at 17.08%.

How have FBNC and FRME total returns compared?

Over the past 10 years, FBNC delivered 14.07% and FRME delivered 7.20% annualized total return. Past performance doesn't predict future results.

First Bancorp (FBNC) vs First Merchants Corporation (FRME)

A side-by-side comparison of First Bancorp 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.

FBNC

First Bancorp

$2.54B

$61.44Financial ServicesDelayed quote: Oct 6, 2026, 10:09 AM EDT

FRME

First Merchants Corporation

$2.52B

$40.12Financial ServicesDelayed quote: Oct 6, 2026, 10:10 AM EDT

Total return — FBNC vs FRME

growth of $100 · dividends reinvested · last 10y

FBNC +274.9% (+14.1%/yr)FRME +99.7% (+7.2%/yr)FBNC compounded faster over this window

FBNC FRME

FBNC vs FRME: by the numbers

•FBNC is the larger company ($2.54B vs $2.52B market cap).
•FRME trades at the lower trailing earnings multiple (12.82 vs 19.08 P/E), one valuation lens rather than an overall verdict.
•FBNC converts more revenue to profit (31.13% vs 17.08% net margin).
•FRME grew revenue faster over the past five years (14.59% vs 5.97% CAGR).
•FRME pays the higher dividend yield (3.67% vs 1.54%).

Metrics side by side

Valuation

Metric	FBNC	FRME
P/E ratio	19.08	12.82
Forward P/E	13.51	12.35
PEG ratio	N/A	1.78
P/S ratio	5.94	2.31
P/B ratio	1.48	0.94

Profitability

Metric	FBNC	FRME
Operating margin	26.56%	18.95%
Net margin	31.13%	17.08%
ROE	7.76%	6.89%

First Bancorp: 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	FBNC	FRME
Dividend yield	1.54%	3.67%
Payout ratio	29.50%	46.65%

Growth (annualized)

Metric	FBNC	FRME
Revenue CAGR (5Y)	5.97%	14.59%
EPS CAGR (5Y)	-1.22%	7.24%
Total return CAGR (5Y)	9.41%	2.27%

Frequently asked

Which has the lower trailing P/E, FBNC or FRME?: FRME has the lower trailing P/E: FBNC trades at 19.08 and FRME at 12.82. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FBNC or FRME?: Over the past five years, FRME grew revenue faster — FBNC at a 5.97% CAGR versus FRME at 14.59%.
Does FBNC or FRME pay a bigger dividend?: FBNC yields 1.54% and FRME yields 3.67% based on trailing dividends and the latest price.
Is FBNC or FRME more profitable?: FBNC runs the higher net margin — FBNC at 31.13% versus FRME at 17.08%.
How have FBNC and FRME total returns compared?: Over the past 10 years, FBNC delivered 14.07% and FRME delivered 7.20% annualized total return. Past performance doesn't predict future results.

Go deeper

Full FBNC analysis Full FRME analysis Interactive comparison tool

Dig into the metrics

First Bancorp P/E ratio First Merchants P/E ratio First Bancorp dividend yield First Merchants dividend yield First Bancorp ROE First Merchants ROE First Bancorp operating margin First Merchants operating margin First Bancorp revenue growth First Merchants revenue growth

First Bancorp & First Merchants appear in these rankings

Highest Dividend Yield Stocks Highest 10-Year Total Return Stocks Lowest P/E Ratio Stocks

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.