Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 68

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 68
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 million and $242.2 million, respectively, and the average of such agreements totaled $136.0 million and $171.3 million during 2024 and 2023, respectively.Transfers Accounted For As Secured BorrowingsThe collateral pledged for all repurchase agreements that are accounted for as secured borrowings as of December 31, 2024 and 2023 were:December 31, 2024Remaining Contractual Maturity of the AgreementsOvernight and ContinuousUp to 30 Days30-90 DaysGreater Than 90 DaysTotalU.S. Government-sponsored mortgage-backed securities$142,876 $— $— $— $142,876 December 31, 2023Remaining Contractual Maturity of the AgreementsOvernight and ContinuousUp to 30 Days30-90 DaysGreater Than 90 DaysTotalU.S. Government-sponsored mortgage-backed securities$157,280 $— $— $— $157,280 Contractual maturities of borrowings as of December 31, 2024, are as follows:Maturities in Years Ending December 31:Federal Funds PurchasedSecurities SoldUnder Repurchase AgreementsFederal HomeLoan BankAdvancesSubordinatedDebentures andTerm Loans2025$99,226 $142,876 $95,000 $1,157 2026— — 75,000 — 2027— — 250,000 — 2028— — 190,000 5,000 2029— — 150,000 30,000 2030 and after— — 62,554 60,753 ASC 805 fair value adjustments at acquisition— — — (3,381) $99,226 $142,876 $822,554 $93,529 

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PART II: ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATANOTES TO CONSOLIDATED FINANCIAL STATEMENTS(table dollar amounts in thousands, except share data)

At December 31, 2024, the outstanding FHLB advances had interest rates from 1.50 to 4.94 percent and are subject to restrictions or penalties in the event of prepayment. The total available remaining borrowing capacity from the FHLB at December 31, 2024, was $733.1 million.  As of December 31, 2024