Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 104

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 104
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 of time can also be a source of liquidity.  Securities classified as held to maturity and that are maturing in one year or less totaled $6.6 million at September 30, 2025.  In addition, other types of assets such as cash and interest-bearing deposits with other banks, federal funds sold and loans maturing within one year are sources of liquidity.

The most stable source of liability-funded liquidity for both the long-term and short-term is deposit growth and retention in the core deposit base.  Federal funds purchased and securities sold under agreements to repurchase are also considered a source of liquidity.  In addition, FHLB advances and Federal Reserve Discount Window borrowings are utilized as a funding source.  At September 30, 2025, total borrowings from the FHLB were $798.6 million and there were no outstanding borrowings from the Federal Reserve Discount Window.  The Bank has pledged certain mortgage loans and investments to the FHLB and Federal Reserve.  The total available remaining borrowing capacity from the FHLB and Federal Reserve at September 30, 2025 was $781.2 million and $5.2 billion, respectively.

The following table presents the Corporation's material cash requirements from known contractual and other obligations at September 30, 2025:

Payments Due In(Dollars in Thousands)One Year or LessOver One YearTotalDeposits without stated maturity$12,810,405 $— $12,810,405 Certificates and other time deposits1,717,865 341,709 2,059,574 Securities sold under repurchase agreements122,226 — 122,226 Federal Home Loan Bank advances— 798,626 798,626 Federal Funds Purchased199,370 — 199,370 Subordinated debentures and other borrowings1,304 56,328 57,632 Total$14,851,170 $1,196,663 $16,047,833 

Also, in the normal course of business, the Bank is a party to a number of other off-balance sheet activities that contain credit, market and operational risk that are not reflected in whole or in part in our consolidated financial statements.  These activities primarily consist of traditional off-balance sheet credit-related financial instruments such as loan commitments and standby letters of credit.

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PART I: FINANCIAL INFORMATIONITEM 2. MANAGEMENT'S DISCUSSION AND ANAL