Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 214

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 214
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 of 25 percent per year, over a three-year transition period that began on January 1, 2021. Under that phase-in schedule, the cumulative effect of the adoption was fully reflected in regulatory capital on January 1, 2024.

44

PART II: ITEM 7. AND ITEM 7A. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The Corporation’s and Bank’s actual and required capital ratios as of December 31, 2024 and December 31, 2023 were as follows:   

Prompt Corrective Action ThresholdsActualBasel III Minimum Capital RequiredWell CapitalizedDecember 31, 2024AmountRatioAmountRatioAmountRatioTotal risk-based capital to risk-weighted assetsFirst Merchants Corporation$2,030,362 13.31 %$1,601,175 10.50 %N/AN/AFirst Merchants Bank1,967,738 12.89 1,602,417 10.50 $1,526,112 10.00 %Tier 1 capital to risk-weighted assetsFirst Merchants Corporation$1,767,468 11.59 %$1,296,189 8.50 %N/AN/AFirst Merchants Bank1,776,738 11.64 1,297,195 8.50 $1,220,889 8.00 %Common equity tier 1 capital to risk-weighted assetsFirst Merchants Corporation$1,742,468 11.43 %$1,067,450 7.00 %N/AN/AFirst Merchants Bank1,776,738 11.64 1,068,278 7.00 $991,973 6.50 %Tier 1 capital to average assetsFirst Merchants Corporation$1,767,468 9.96 %$710,089 4.00 %N/AN/AFirst Merchants Bank1,776,738 9.92 716,172 4.00 $895,215 5.00 %

Prompt Corrective Action Thresholds ActualBasel III Minimum Capital RequiredWell CapitalizedDecember 31, 2023AmountRatioAmountRatioAmountRatioTotal risk-based capital to risk-weighted assetsFirst Merchants Corporation$2,021,124 13.67 %$1,552,685 10.50