Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 129

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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 amortized cost, gross unrealized gains and losses, approximate fair value and allowance for credit losses on investment securities held to maturity as of June 30, 2025 and December 31, 2024.AmortizedCostAllowance for Credit LossesNet Carrying AmountGross Unrealized GainsGross Unrealized LossesFairValueHeld to maturity at June 30, 2025U.S. Government-sponsored agency securities$334,970 $— $334,970 $— $52,156 $282,814 State and municipal1,076,773 245 1,076,528 259 201,668 875,364 U.S. Government-sponsored mortgage-backed securities609,828 — 609,828 — 82,266 527,562 Foreign investment1,500 — 1,500 — — 1,500 Total held to maturity$2,023,071 $245 $2,022,826 $259 $336,090 $1,687,240 AmortizedCostAllowance for Credit LossesNet Carrying AmountGross Unrealized GainsGross Unrealized LossesFairValueHeld to maturity at December 31, 2024U.S. Government-sponsored agency securities$345,531 $— $345,531 $— $63,112 $282,419 State and municipal1,085,921 245 1,085,676 299 185,784 900,436 U.S. Government-sponsored mortgage-backed securities641,513 — 641,513 — 102,343 539,170 Foreign investment1,500 — 1,500 — 5 1,495 Total held to maturity$2,074,465 $245 $2,074,220 $299 $351,244 $1,723,520 Accrued interest on investment securities available for sale and held to maturity at June 30, 2025 and December 31, 2024 of $22.1 million and $22.5 million, respectively, are included in the Interest Receivable line on the Corporation's Consolidated Condensed Balance Sheets.  The total amount of accrued interest is excluded from the amortized cost of available for sale and held to maturity securities presented above. In determining the allowance for credit losses on investment securities available