Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 49

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 49
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,828 $7,223 $12,486,027 Total current period gross charge-offs$14,338 $4,012 $1,350 $5,894 $338 $2,107 $— $— $28,039 

74

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

Total past due loans equaled $116.2 million as of December 31, 2024, a $37.0 million increase from the total of $79.2 million for December 31, 2023.  At December 31, 2024, 30-59 Days Past Due loans totaled $35.8 million, an increase of $1.7 million from December 31, 2023.  At December 31, 2024, 60-89 Days Past Due loans totaled $32.6 million, an increase of $21.4 million from December 31, 2023.  Of the $21.4 million increase, $20.0 million was in the construction loan class.  At December 31, 2024, 90 Days or More Past Due loans totaled $47.8 million, an increase of $13.8 million from December 31, 2023.  The primary increases were $2.9 million, $4.0 million, and $6.7 million, in the commercial and industrial, construction and residential loan classes, respectively.  The tables below show a past due aging of the Corporation’s loan portfolio, by loan class, as of the dates indicated:December 31, 2024Current30-59 DaysPast Due60-89 DaysPast Due90 Days or More Past DueTotalLoans > 90 Days or More Past DueAnd AccruingCommercial and industrial loans$4,096,605 $7,428 $473 $9,786 $4,114,292 $2,010 Agricultural land, production and other loans to farmers256,148 164 — — 256,312 — Real estate loans:Construction761,819 4,332 22,005 3,988 792,144 3,683 Commercial real estate, non-owner