Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 82

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 82
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, which increased to 2.67 percent from 2.45 percent. 

46

PART I: FINANCIAL INFORMATIONITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following tables present the Corporation’s average balance sheet, interest income/interest expense, and the average rate as a percent of average earning assets/liabilities for the three and six months ended June 30, 2025 and 2024.

 (Dollars in Thousands)Three Months EndedJune 30, 2025June 30, 2024Average BalanceInterest Income /ExpenseAverageRateAverage BalanceInterest Income /ExpenseAverageRateAssets: Interest-bearing deposits$252,613 $1,892 3.00 %$322,647 $2,995 3.71 %Federal Home Loan Bank stock46,598 1,083 9.30 41,749 879 8.42 Investment Securities: (1)Taxable1,605,718 8,266 2.06 1,788,749 9,051 2.02 Tax-Exempt (2)2,042,326 15,843 3.10 2,240,309 17,232 3.08 Total Investment Securities3,648,044 24,109 2.64 4,029,058 26,283 2.61 Loans held for sale25,411 389 6.12 28,585 431 6.03 Loans: (3)Commercial9,006,650 154,108 6.84 8,691,746 160,848 7.40 Real estate mortgage2,200,521 25,062 4.56 2,150,591 23,799 4.43 HELOC and installment834,901 15,614 7.48 823,417 16,335 7.94 Tax-Exempt (2)1,144,246 13,677 4.78 926,191 10,670 4.61 Total Loans13,211,729 208,850 6.32 12,620,530 212,083 6.72 Total Earning Assets17,158,984 235,934 5.50 %17,013,984