Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 3

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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500 FDIC assessments3,526 3,720 10,726 11,285 Other real estate owned and foreclosure expenses121 942 750 1,849 Professional and other outside services3,718 3,035 10,720 10,809 Other expenses6,951 6,630 21,079 19,975 Total Noninterest Expenses96,561 94,629 283,061 282,977 INCOME BEFORE INCOME TAX65,281 56,347 193,616 155,105 Income tax expense8,516 7,160 24,680 18,052 NET INCOME56,765 49,187 168,936 137,053 Preferred stock dividends468 468 1,406 1,406 NET INCOME AVAILABLE TO COMMON STOCKHOLDERS$56,297 $48,719 $167,530 $135,647 Per Share Data:    Basic Net Income Available to Common Stockholders$0.98 $0.84 $2.91 $2.32 Diluted Net Income Available to Common Stockholders$0.98 $0.84 $2.90 $2.31 Cash Dividends Paid$0.36 $0.35 $1.07 $1.04 Average Diluted Common Shares Outstanding (in thousands)57,448 58,289 57,817 58,629 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

5

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

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Net income$56,765 $49,187 $168,936 $137,053 Other comprehensive income:     Unrealized gains on securities available for sale:Unrealized holding gain arising during the period43,178 67,030 41,538 21,399 Reclassification adjustment for losses included in net income— 9,114 8 9,165 Tax effect(9,067)(15,990)(8,725)(6,