Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 95

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 95
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ed assetsFirst Merchants Corporation$2,030,362 13.31 %$1,601,175 10.50 %N/AN/AFirst Merchants Bank1,967,738 12.89 1,602,417 10.50 $1,526,112 10.00 %Tier 1 capital to risk-weighted assetsFirst Merchants Corporation$1,767,468 11.59 %$1,296,189 8.50 %N/AN/AFirst Merchants Bank1,776,738 11.64 1,297,195 8.50 $1,220,889 8.00 %Common equity tier 1 capital to risk-weighted assetsFirst Merchants Corporation$1,742,468 11.43 %$1,067,450 7.00 %N/AN/AFirst Merchants Bank1,776,738 11.64 1,068,278 7.00 $991,973 6.50 %Tier 1 capital to average assetsFirst Merchants Corporation$1,767,468 9.96 %$710,089 4.00 %N/AN/AFirst Merchants Bank1,776,738 9.92 716,172 4.00 $895,215 5.00 %

On November 1, 2013, the Corporation completed the private issuance and sale to four institutional investors of an aggregate of $70.0 million of debt comprised of (a) 5.00 percent Fixed-to-Floating Rate Senior Notes due 2028 in the aggregate principal amount of $5.0 million and (b) 6.75 percent Fixed-to-Floating Rate Subordinated Notes due October 30, 2028 in the aggregate principal amount of $65.0 million.  The Corporation exercised its right to redeem $65.0 million of the Subordinated Debt on the scheduled interest payment date during the first half of 2024 and the Corporation exercised its right to redeem the $5.0 million of the Senior Debt on the scheduled interest payment date of July 30, 2025. 

On April 1, 2022, the Corporation assumed $30.0 million of subordinated notes in conjunction with its acquisition of Level One.  On February 14, 2025, the Corporation, through its trustee, distributed notice of redemption of