Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 8

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 6 894 — — 900 Restricted shares withheld for taxes— — — — (23,795)(3)(849)— — (852)Balances, September 30, 2024125 $125 10,000 $25,000 58,117,115 $7,265 $1,192,683 $1,229,125 $(151,825)$2,302,373 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

8

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

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)

Nine Months Ended September 30, 20252024Cash Flow from Operating Activities:Net income$168,936 $137,053 Adjustments to reconcile net income to net cash provided by operating activities:Provision for credit losses14,100 31,500 Depreciation and amortization23,718 10,602 Change in deferred taxes(2,095)3,128 Share-based compensation4,916 4,191 Loans originated for sale(358,898)(775,504)Proceeds from sales of loans held for sale366,363 773,446 Gains on sales of loans held for sale(11,992)(10,508)Net losses on sales and redemptions of securities available for sale8 9,165 Increase in cash surrender value of life insurance(4,667)(4,128)Gains on life insurance benefits(1,092)(2,148)Change in interest receivable2,727 5,585 Change in interest payable2,138 (319)Other adjustments(1,228)16,643 Net cash provided by operating activities202,934 198,706 Cash Flows from Investing Activities:Net change in interest-bearing deposits130,185 76,954 Purchase of securities available for sale(10,609)(93,463)Proceeds from sales of securities available for sale— 149,771 Proceeds from maturities and redemptions of: Securities available for sale47,991 33,346 Securities held to maturity76,183 72,938 Purchases of Federal Home Loan Bank stock