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

FRMEP has the lower trailing P/E: FBNC trades at 18.81 and FRMEP at 8.07. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, FBNC or FRMEP?

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

Does FBNC or FRMEP pay a bigger dividend?

FBNC yields 1.54% and FRMEP yields 7.42% based on trailing dividends and the latest price.

Is FBNC or FRMEP more profitable?

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

How have FBNC and FRMEP total returns compared?

Over the past 5 years, FBNC delivered 9.41% and FRMEP delivered 5.75% annualized total return. Past performance doesn't predict future results.

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

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

$2.51B

$60.57Financial ServicesDelayed quote: Oct 6, 2026, 11:35 AM EDT

FRMEP

First Merchants Corporation

$2.79B

$25.26Financial ServicesDelayed quote: Oct 6, 2026, 9:30 AM EDT

Total return — FBNC vs FRMEP

growth of $100 · dividends reinvested · last 6y

FBNC +208.4% (+20.6%/yr)FRMEP +56.3% (+7.7%/yr)FBNC compounded faster over this window

FBNC FRMEP

FBNC vs FRMEP: by the numbers

•FRMEP is the larger company ($2.79B vs $2.51B market cap).
•FRMEP trades at the lower trailing earnings multiple (8.07 vs 18.81 P/E), one valuation lens rather than an overall verdict.
•FBNC converts more revenue to profit (31.13% vs 17.08% net margin).
•FRMEP grew revenue faster over the past five years (14.59% vs 5.97% CAGR).
•FRMEP pays the higher dividend yield (7.42% vs 1.54%).

Metrics side by side

Valuation

Metric	FBNC	FRMEP
P/E ratio	18.81	8.07
Forward P/E	13.32	7.78
PEG ratio	N/A	1.12
P/S ratio	5.86	2.57
P/B ratio	1.46	1.05

Profitability

Metric	FBNC	FRMEP
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	FRMEP
Dividend yield	1.54%	7.42%
Payout ratio	29.50%	59.91%

Growth (annualized)

Metric	FBNC	FRMEP
Revenue CAGR (5Y)	5.97%	14.59%
EPS CAGR (5Y)	-1.22%	7.24%
Total return CAGR (5Y)	9.41%	5.75%

Frequently asked

Which has the lower trailing P/E, FBNC or FRMEP?: FRMEP has the lower trailing P/E: FBNC trades at 18.81 and FRMEP at 8.07. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, FBNC or FRMEP?: Over the past five years, FRMEP grew revenue faster — FBNC at a 5.97% CAGR versus FRMEP at 14.59%.
Does FBNC or FRMEP pay a bigger dividend?: FBNC yields 1.54% and FRMEP yields 7.42% based on trailing dividends and the latest price.
Is FBNC or FRMEP more profitable?: FBNC runs the higher net margin — FBNC at 31.13% versus FRMEP at 17.08%.
How have FBNC and FRMEP total returns compared?: Over the past 5 years, FBNC delivered 9.41% and FRMEP delivered 5.75% annualized total return. Past performance doesn't predict future results.

Go deeper

Full FBNC analysis Full FRMEP 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.