Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 150

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 150
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 Financial DifficultyPayment DelayTerm ExtensionInterest Rate ReductionCombination Payment Delay & Term ExtensionCombination Interest Rate Reduction, Term Extension, & Payment Delay% of Total Class of Financing ReceivableCommercial and industrial loans$1,491 $4,383 $249 $27 $— 0.16 %Real estate loans:Commercial real estate, non-owner occupied— 19,488 — — — 0.84 %Commercial real estate, owner occupied— 1,990 — — — 0.17 %Residential1,880 274 — 392 227 0.12 %Home equity89 62 — 162 — 0.05 %Total$3,460 $26,197 $249 $581 $227 The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three and six months ended June 30, 2025 and 2024. Three Months Ended June 30, 2025Financial Effect of Loan ModificationsPayment DelayTerm ExtensionInterest Rate ReductionCombination Interest Rate Reduction & Term ExtensionCombination Interest Rate Reduction, Term Extension & Payment DelayCommercial and industrial loansExtended loans by a weighted average of 4 months.Real estate loans:Commercial real estate, non-owner occupiedExtended loans by a weighted average of 6 months.Reduced the weighted average contractual interest rate from 7.58% to 6.93%.Reduced the weighted average contractual interest rate from 14.00% to 7.00% and extended loans by a weighted average of 16 months.ResidentialProvided payment deferrals with weighted average delayed amounts of $36.   Reduced the weighted average contractual interest rate from 4.50% to 2.50%, extended loans by a weighed average of 68 months, and provided payment deferrals with weighted average delayed amounts of $8. 

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PART I. FINANCIAL INFORMATION ITEM 1. NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS(table dollar amounts in thousands, except share data)(Unaudited)

Three Months Ended June 30, 2024Financial Effect of Loan ModificationsPayment DelayTerm ExtensionCombination Payment Delay & Term ExtensionCombination Interest Rate Reduction, Term Extension & Payment DelayCommercial and industrial loansExtended loans by a weighted average of 12 months.Provided payment deferrals with weighted average delayed amounts of $5 and extended loans by a weighted average of