Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 247

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 247
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1,975,923 35,255 3.57 2,421,413 55,062 4.55 Total Interest-Bearing Deposits12,327,375 164,788 2.67 12,499,841 197,436 3.16 Borrowings1,256,688 24,181 3.85 948,866 19,211 4.05 Total Interest-Bearing Liabilities13,584,063 188,969 2.78 13,448,707 216,647 3.22 Noninterest-bearing deposits2,198,939 2,388,695   Other liabilities302,281 321,188   Total Liabilities16,085,283 16,158,590   Stockholders' Equity2,340,440 2,222,750   Total Liabilities and Stockholders' Equity$18,425,723 $18,381,340 Net Interest Income (FTE)$275,610  $267,289  Net Interest Spread (FTE) (4)2.67 %  2.45 %Net Interest Margin (FTE):Interest Income (FTE) / Average Earning Assets5.45 %5.67 %Interest Expense / Average Earning Assets2.22 %2.54 %Net Interest Margin (FTE) (5)3.23 %3.13 %(1) Average balance of securities is computed based on the average of the historical amortized cost balances without the effects of the fair value adjustments.  Annualized amounts are computed utilizing a 30/360 day basis.(2)  Tax-exempt securities and loans are presented on a fully taxable equivalent basis, using a marginal tax rate of 21 percent for 2025 and 2024.  These totals equal $12,326 and $11,655 for the six months ended June 30, 2025 and 2024, respectively.  (3) Nonaccruing loans have been included in the average balances.(4) Net Interest Spread (FTE) is interest income expressed as a percentage of average earning assets minus interest expense expressed as a percentage of average interest-bearing liabilities.(5) Net Interest Margin (FTE) is interest income expressed as a percentage of average earning assets minus interest expense expressed as a percentage of average earning assets.

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PART I: FIN