Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 5

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 5
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,939 Federal funds purchased481 1,421 1,302 Securities sold under repurchase agreements3,057 3,451 1,136 Federal Home Loan Bank advances29,886 27,206 11,417 Subordinated debentures and other borrowings7,341 10,316 8,009 Total Interest Expense426,892 348,486 84,803 NET INTEREST INCOME521,114 545,400 520,203 Provision for credit losses35,700 3,500 16,755 NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES485,414 541,900 503,448 NONINTEREST INCOME  Service charges on deposit accounts32,606 30,837 28,371 Fiduciary and wealth management fees34,215 30,840 29,688 Card payment fees19,317 18,862 20,207 Net gains and fees on sales of loans20,840 15,659 10,055 Derivative hedge fees3,082 3,385 3,388 Other customer fees1,547 1,880 1,935 Increase in cash surrender value of life insurance5,655 5,320 5,210 Gains on life insurance benefits2,809 3,027 5,964 Net realized gains (losses) on sales of available for sale securities(20,757)(6,930)1,194 Gain on branch sale19,983 — — Other income6,283 2,722 1,929 Total Noninterest Income125,580 105,602 107,941 NONINTEREST EXPENSES  Salaries and employee benefits221,167 228,745 206,893 Net occupancy28,387 29,859 26,211 Equipment26,802 24,113 23,945 Marketing7,389 7,427 7,708 Outside data processing fees27,140 25,165 21,682 Printing and office supplies1,462 1,552 1,588 Intangible asset amortization7,271 8,743 8,275 FDIC assessments15,029 14,674 10,235 Other real estate owned and foreclosure expenses2,076 3,318 823 Professional and