Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 6

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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006 Change in Federal Home Loan Bank stock(3,316)11 Payment of capital calls to qualified affordable housing investments(12,213)(7,975)Net change in loans(139,975)56,511 Proceeds from the sale of other real estate owned228 78 Proceeds from life insurance benefits2,167 1,865 Proceeds from commercial portfolio loan sale— 3,273 Other adjustments(4,024)6,344 Net cash provided (used) by investing activities(160,418)82,880 Cash Flows from Financing Activities:Net change in:Demand and savings deposits75,609 (30,726)Certificates of deposit and other time deposits(135,257)93,857 Borrowings455,834 60 Repayment of borrowings(270,975)(167,182)Cash dividends on preferred stock(469)(469)Cash dividends on common stock(20,487)(20,157)Stock issued under employee benefit plans173 186 Stock issued under dividend reinvestment and stock purchase plans566 542 Stock options exercised126 — Repurchase of common stock(7,905)(29,974)Net cash provided (used) by financing activities97,215 (153,863)Net Change in Cash and Cash Equivalents(1,503)(12,135)Cash and Cash Equivalents, January 187,616 112,649 Cash and Cash Equivalents, March 31$86,113 $100,514 Additional cash flow information:Interest paid$95,046 $108,487 Income tax paid (refunded)(1,296)(1)Loans transferred to other real estate owned246 127 Non-cash investing activities using trade date accounting15,743 41,719 ROU assets obtained in exchange for new operating lease liabilities161 3,343 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

8

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

NOTE 1  

GENERALFinancial Statement PreparationThe Consolidated Condensed Balance Sheet of the Corporation as of December 31, 2024, has been derived from the audited consolidated balance sheet of the Corporation as of that date.  Certain information and note disclosures normally included in