Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 8

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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— — — — (1,672)— (58)— — (58)Balances, June 30, 2024125 $125 10,000 $25,000 58,045,653 $7,256 $1,191,193 $1,200,930 $(211,979)$2,212,525 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

8

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

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)

Six Months Ended June 30, 20252024Cash Flow from Operating Activities:Net income$112,171 $87,866 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses9,800 26,500 Depreciation and amortization15,711 6,680 Change in deferred taxes(2,178)1,356 Share-based compensation3,162 2,754 Loans originated for sale(237,250)(451,682)Proceeds from sales of loans held for sale235,456 443,068 Gains on sales of loans held for sale(8,326)(4,744)Net losses on sales and redemptions of securities available for sale8 51 Increase in cash surrender value of life insurance(3,150)(2,863)Gains on life insurance benefits(942)(658)Change in interest receivable(1,429)118 Change in interest payable72 (358)Other adjustments(7,730)13,787 Net cash provided by operating activities115,375 121,875 Cash Flows from Investing Activities:Net change in interest-bearing deposits75,548 267,552 Purchases of:Securities available for sale(5,906)(62,328)Proceeds from maturities and redemptions of: Securities available for sale30,084 21,396 Securities held to maturity49,687 48,254 Purchases of Federal Home Loan Bank stock(5,643)— Redemptions of Federal Home Loan Bank stock43 31 Payment of capital calls to qualified affordable housing investments(23,596)(15,933)