Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 0

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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PART I. FINANCIAL INFORMATION ITEM 1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS(table dollar amounts in thousands, except share data)

CONSOLIDATED CONDENSED BALANCE SHEETS

June 30,2025December 31,2024(Unaudited)ASSETSCash and due from banks$81,567 $87,616 Interest-bearing deposits223,343 298,891 Investment securities available for sale1,358,130 1,386,475 Investment securities held to maturity, net of allowance for credit losses of $245 and $245 (fair value of $1,687,240 and $1,723,520)2,022,826 2,074,220 Loans held for sale28,783 18,663 Loans13,296,759 12,854,359 Less: Allowance for credit losses - loans(195,316)(192,757)Net loans13,101,443 12,661,602 Premises and equipment122,808 129,743 Federal Home Loan Bank stock47,290 41,690 Interest receivable93,258 91,829 Goodwill712,002 712,002 Other intangibles16,797 19,828 Cash surrender value of life insurance305,695 304,906 Other real estate owned177 4,948 Tax asset, deferred and receivable97,749 92,387 Other assets380,909 387,169 TOTAL ASSETS$18,592,777 $18,311,969 LIABILITIESDeposits:Noninterest-bearing$2,197,416 $2,325,579 Interest-bearing12,600,162 12,196,047 Total Deposits14,797,578 14,521,626 Borrowings:Federal funds purchased85,000 99,226 Securities sold under repurchase agreements114,758 142,876 Federal Home Loan Bank advances898,702 822,554 Subordinated debentures and other borrowings62,617 93,529 Total Borrowings1,161,077 1,158,185 Interest payable16,174 16,102 Other liabilities269,996 311,073 Total Liabilities16,244,825 16,006,986 COMMITMENTS AND CONTINGENT LIAB