Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 0

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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PART I. FINANCIAL INFORMATION ITEM 1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS(table dollar amounts in thousands, except share data)

CONSOLIDATED CONDENSED BALANCE SHEETS

March 31,2025December 31,2024(Unaudited)ASSETS  Cash and due from banks$86,113 $87,616 Interest-bearing deposits331,534 298,891 Investment securities available for sale1,378,489 1,386,475 Investment securities held to maturity, net of allowance for credit losses of $245 and $245 (fair value of $1,705,006 and $1,723,520)2,048,632 2,074,220 Loans held for sale23,004 18,663 Loans13,004,905 12,854,359 Less: Allowance for credit losses - loans(192,031)(192,757)Net loans12,812,874 12,661,602 Premises and equipment128,749 129,743 Federal Home Loan Bank stock45,006 41,690 Interest receivable88,352 91,829 Goodwill712,002 712,002 Other intangibles18,302 19,828 Cash surrender value of life insurance304,918 304,906 Other real estate owned4,966 4,948 Tax asset, deferred and receivable87,665 92,387 Other assets369,181 387,169 TOTAL ASSETS$18,439,787 $18,311,969 LIABILITIES  Deposits:  Noninterest-bearing$2,185,057 $2,325,579 Interest-bearing12,276,921 12,196,047 Total Deposits14,461,978 14,521,626 Borrowings:  Federal funds purchased185,000 99,226 Securities sold under repurchase agreements122,947 142,876 Federal Home Loan Bank advances972,478 822,554 Subordinated debentures and other borrowings62,619 93,529 Total Borrowings1,343,044 1,158,185 Interest payable13,304 16,102 Other liabilities289,247 311,073 Total Liabilities16,107,573 16,006,986