Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 53

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 53
---
 17,516 35 Commercial real estate, owner occupied9,452 — — 9,452 — Residential— 1,439 — 1,439 230 Home equity— 223 — 223 30 Loans$26,968 $1,669 $32,029 $60,666 $11,769 

76

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

In certain situations, the Corporation may modify the terms of a loan to a debtor experiencing financial difficulty.  The modifications may include principal forgiveness, interest rate reductions, payment delays, term extensions or combinations of the above.  The following table presents the amortized cost basis of loans at December 31, 2024 and 2023 that were both experiencing financial difficulty and modified during the year ended December 31, 2024 and 2023, by class and by type of modification.  The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below. Year Ended December 31, 2024Loan Modifications Made to Borrowers Experiencing Financial DifficultyPayment DelayTerm ExtensionInterest Rate ReductionCombination Payment Delay & Term ExtensionCombination Interest Rate Reduction & Term ExtensionCombination Interest Rate Reduction, Term Extension, & Payment Delay% of Total Class of Financing ReceivableCommercial and industrial loans$11,073 $19,152 $246 $— $68 $— 0.74 %Agricultural land, production and other loans to farmers2,230 — — — — — 0.87 %Real estate loans:Construction— 2,393 — 22,000 — — 3.08 %Commercial real estate, non-owner occupied— 18,933 — — — — 0.83 %Commercial real estate, owner occupied— 6,133 — — — — 0.53 %Residential2,509 340 — 683 43 532 0.17 %Home equity— 61 — 161 — — 0.03 %Total$15,812 $47,012 $