Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 85

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 85
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At March 31, 2025, non-accrual loans totaled $81.9 million, an increase of $8.1 million from December 31, 2024, primarily due to increases of $6.8 million and $1.9 million in non-accrual balances in commercial real estate, owner occupied and residential, respectively.  The increase was offset by a decline in non-accrual balances within the commercial and industrial loan portfolio of $2.0 million. 

At March 31, 2025, loans 90-days or more delinquent and still accruing totaled $4.3 million, a decrease of $1.6 million from December 31, 2024.  

The Corporation's nonperforming assets plus accruing loans 90-days or more delinquent loans are presented in the table below.

(Dollars in Thousands)March 31, 2025December 31, 2024Nonperforming Assets:Non-accrual loans$81,922 $73,773 OREO and Repossessions4,966 4,948 Nonperforming assets (NPA)86,888 78,721 Loans 90-days or more delinquent and still accruing4,280 5,902 NPAs and loans 90-days or more delinquent$91,168 $84,623 

The composition of nonperforming assets plus accruing loans 90-days or more delinquent is reflected in the following table by loan class. 

(Dollars in Thousands)March 31, 2025December 31, 2024Nonperforming assets and loans 90-days or more delinquent:Commercial and industrial loans$10,041 $10,100 Agricultural land, production and other loans to farmers70 75 Real estate loans:Construction24,520 28,312 Commercial real estate, non-owner occupied18,123 16,838 Commercial real estate, owner occupied9,391 2,440 Residential23,785 21,927 Home equity5,238 4,924 Individuals' loans for household and other personal expenditures— 7 Nonperforming assets and loans 90-days or more delinquent:$91,168 $84,623 

In April 2025, the Corporation received $22.0 million in principal payments related to a multi