Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 3

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 3
---
200 7,565 Other real estate owned and foreclosure expenses29 373 629 907 Professional and other outside services3,741 3,822 7,002 7,774 Other expenses7,096 7,411 14,128 13,345 Total Noninterest Expenses93,598 91,413 186,500 188,348 INCOME BEFORE INCOME TAX65,119 43,992 128,335 98,758 Income tax expense8,287 4,067 16,164 10,892 NET INCOME56,832 39,925 112,171 87,866 Preferred stock dividends469 469 938 938 NET INCOME AVAILABLE TO COMMON STOCKHOLDERS$56,363 $39,456 $111,233 $86,928 Per Share Data:    Basic Net Income Available to Common Stockholders$0.98 $0.68 $1.93 $1.48 Diluted Net Income Available to Common Stockholders$0.98 $0.68 $1.92 $1.48 Cash Dividends Paid$0.36 $0.35 $0.71 $0.69 Average Diluted Common Shares Outstanding (in thousands)57,773 58,328 58,005 58,800 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

5

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

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income$56,832 $39,925 $112,171 $87,866 Other comprehensive income (loss):     Unrealized gains (losses) on securities available-for-sale:Unrealized holding gain (loss) arising during the period424 (17,708)(1,641)(45,632)Reclassification adjustment for losses included in net income1 49 8 51 Tax effect(89)3,709 343 9,572       Total other comprehensive income (loss), net of tax336 (13,950)(