Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 38

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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-59 Days Past Due60-89 Days Past Due90+ Days Past DueTotalCommercial and industrial loans$9,561 $— $— $3,278 $12,839 Agricultural land, production and other loans to farmers2,177 — — — 2,177 Real estate loans:Commercial real estate, non-owner occupied65,717 — — — 65,717 Residential4,275 351 647 1,764 7,037 Home equity155 — — — 155 Total$81,885 $351 $647 $5,042 $87,925 

24

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

September 30, 2024Current30-59 Days Past Due60-89 Days Past Due90+ Days Past DueTotalCommercial and industrial loans$24,445 $— $1,927 $— $26,372 Agricultural land, production and other loans to farmers22 — — — 22 Real estate loans:Construction22,915 — — — 22,915 Commercial real estate, non-owner occupied21,082 8,680 — 1,730 31,492 Commercial real estate, owner occupied7,523 — — — 7,523 Residential1,940 — 250 1,189 3,379 Home equity252 — — — 252 Total$78,179 $8,680 $2,177 $2,919 $91,955 During the nine months ended September 30, 2025 and 2024, there were payment defaults of $5.0 million and $2.9 million, respectively, on loans to borrowers whose loans were modified due to financial difficulties within the previous twelve months. The payment defaults did not materially impact the allowance for credit losses on loans. Upon the Corporation's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or portion of the loan) is charged-off.  Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is