Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 3

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 3
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 LLP

We have served as the Corporation’s auditor since at least 1982; however, an earlier year cannot be reliably determined. 

Indianapolis, Indiana

February 24, 2025

53

PART II: ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATACONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEETS

 December 31,December 31,(Dollars in Thousands, Except Share Data)20242023ASSETS  Cash and due from banks$87,616 $112,649 Interest-bearing deposits298,891 436,080 Investment securities available for sale1,386,475 1,627,112 Investment securities held to maturity, net of allowance for credit losses of $245 and $245 (fair value of $1,723,520 and $1,870,374)2,074,220 2,184,252 Loans held for sale18,663 18,934 Loans12,854,359 12,486,027 Less: Allowance for credit losses - loans(192,757)(204,934)Net loans12,661,602 12,281,093 Premises and equipment129,743 133,896 Federal Home Loan Bank stock41,690 41,769 Interest receivable91,829 97,664 Goodwill712,002 712,002 Other intangibles19,828 27,099 Cash surrender value of life insurance304,906 306,301 Other real estate owned4,948 4,831 Tax asset, deferred and receivable92,387 99,883 Other assets387,169 322,322 TOTAL ASSETS$18,311,969 $18,405,887 LIABILITIES  Deposits:  Noninterest-bearing$2,325,579 $2,500,062 Interest-bearing12,196,047 12,321,391 Total Deposits14,521,626 14,821,453 Borrowings:  Federal funds purchased99,226 — Securities sold under repurchase agreements142,876 157,280 Federal Home Loan Bank advances822,554 712,852 Subordinated debentures and other borrowings93,529 158,644 Total Borrowings1,158,185 1,028,