Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 118

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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 A2— 20,321 — — 20,321 Non-rated— 354,995 — 1,500 356,495 Total$341,245 $1,079,688 $626,444 $1,500 $2,048,877 December 31, 2024U.S. Government-sponsored agency securities (1)State and municipalU.S. Government-sponsored mortgage-backed securities (1)Foreign investmentTotalCredit Rating:Aaa$345,531 $120,801 $641,513 $— $1,107,845 Aa1— 148,923 — — 148,923 Aa2— 184,341 — — 184,341 Aa3— 185,166 — — 185,166 A1— 65,665 — — 65,665 A2— 20,317 — — 20,317 Non-rated— 360,708 — 1,500 362,208 Total$345,531 $1,085,921 $641,513 $1,500 $2,074,465 (1) U.S. Government agency securities and U.S. Government mortgage-backed securities are included within the Aaa credit rating category due to their explicit or implicit government guarantees, which provide a high level of assurance regarding the timely collection of principal and interest payments.The following tables summarize, as of March 31, 2025 and December 31, 2024, investment securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security type and length of time in a continuous unrealized loss position.Less than 12 Months12 Months or LongerTotalFairValueGrossUnrealizedLossesFairValueGrossUnrealizedLossesFairValueGrossUnrealizedLossesInvestment securities available for sale at March 31, 2025U.S. Government-sponsored agency securities$— $— $79,926 $13,832 $79,926 $13,832 State and municipal14,702 921 828,805 148,649 843,507 149,570 U.S. Government-sponsored mortgage-backed securities55,519 645 320,890 76,969 376,409 77,614