Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 114

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 114
---
 Second assumed certain deposit liabilities and acquired certain loans, as well as cash and premises and equipment. The Bank recognized a gain on sale of $20.0 million related to the branch sale for the year ended December 31, 2024. The following table summarizes the assets and liabilities related to the branch sale: December 6, 2024AssetsCash and due from banks$419 Loans7,410 Premises and equipment3,233 Interest receivable and other assets21 Total Assets$11,083 LiabilitiesDeposits$267,448 Interest payable and other liabilities692 Total Liabilities$268,140 

NOTE 3

INVESTMENT SECURITIESThe following tables summarize the amortized cost, gross unrealized gains and losses and approximate fair value of investment securities available for sale as of March 31, 2025 and December 31, 2024.AmortizedCostGross Unrealized GainsGross Unrealized LossesFairValueAvailable for sale at March 31, 2025    U.S. Government-sponsored agency securities$93,758 $— $13,832 $79,926 State and municipal994,697 56 149,570 845,183 U.S. Government-sponsored mortgage-backed securities517,564 996 77,614 440,946 Corporate obligations12,964 — 530 12,434 Total available for sale$1,618,983 $1,052 $241,546 $1,378,489 AmortizedCostGross Unrealized GainsGross Unrealized LossesFairValueAvailable for sale at December 31, 2024U.S. Government-sponsored agency securities$95,462 $— $16,081 $79,381 State and municipal996,541 19 133,386 863,174 U.S. Government-sponsored mortgage-backed securities519,943 403 88,724 431,622 Corporate obligations12,960 — 662 12,298 Total available for sale$1,624,906 $422 $238,853 $1,386,475 

10

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

The following tables summarize the amortized cost, gross unreal