First Merchants Corporation (NASDAQ:FRME) Q1 2024 Earnings Call Transcript

John Martin: Yes, we’re still seeing rent growth, but it has slowed. It’s kind of tapered from what was a breakneck speed earlier in the cycle to a more modest level. Really, that multifamily that we’ve had has been, as Mike mentioned earlier, been able to stabilize and move to the permanent market. So we still feel pretty good about that space. Although, obviously, new opportunities are going to get more challenging with higher rates.

Terry McEvoy : Thanks for taking my questions.

John Martin: Thanks, Terry.

Operator: Thank you. I’m currently showing no further questions at this time. I’d like to turn the call back over to Mr. Mark Hardwick for closing comments.

Mark Hardwick: Yes, I really don’t have much other than just, again, an expression of our appreciation for your interest in our company and the continued investment. And the teams are working hard to deliver our results for the remainder of the year. Thank you again for your attention.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone, have a wonderful day.