Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 231

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 231
---
 FINANCIAL MEASURES" section of this Management's Discussion and Analysis of Financial Condition and Results of Operations.

As of June 30, 2025, total assets equaled $18.6 billion, an increase of $280.8 million or 1.5 percent from December 31, 2024.  

Cash and due from banks and interest-bearing deposits decreased $81.6 million from December 31, 2024.  Total investment securities decreased $79.7 million from December 31, 2024, primarily due to $79.8 million in maturities and redemptions of available for sale securities and held to maturity securities.  The investment portfolio as a percentage of total assets was 18.2 percent at June 30, 2025 and 18.9 percent at December 31, 2024.  Additional details of the Corporation's investment securities portfolio are discussed within NOTE 3. INVESTMENT SECURITIES of the Notes to Consolidated Condensed Financial Statements of this Quarterly Report on Form 10-Q.

The Corporation's total loan portfolio increased $452.5 million, or 7.0 percent on an annualized basis, since December 31, 2024.  The composition of the loan portfolio is 75.7 percent commercial oriented with the largest loan classes of commercial and industrial and commercial real estate, non-owner occupied, representing 33.3 percent and 16.3 percent of the total loan portfolio, respectively.  The increase was primarily driven by increases in commercial and industrial, commercial real estate, owner occupied, construction, public finance, and residential loans.  Partially offsetting those increases was a decrease in commercial real estate, non-owner occupied and individuals' loans for household and other personal expenditures.  Additional details of the changes in the Corporation's loans are discussed within NOTE 4. LOANS AND ALLOWANCE FOR CREDIT LOSSES of the Notes to Consolidated Condensed Financial Statements of this Quarterly Report on Form 10-Q, and the "LOAN QUALITY AND PROVISION FOR CREDIT LOSSES ON LOANS" section of this Management's Discussion and Analysis of Financial Condition and Results of Operations.

The Corporation’s ACL - Loans totaled $195.3 million as of June 30, 2025 and equaled 1.47 percent of total loans, compared to $192.8 million and 1.50 percent of total loans at December 31, 2024.  The ACL - Loans decreased