Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 3

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 INCOME (LOSS)

(Unaudited)

Three Months Ended March 31,20252024Net income$55,339 $47,941 Other comprehensive loss:     Unrealized losses on securities available-for-sale:Unrealized holding loss arising during the period(2,066)(27,925)Reclassification adjustment for losses included in net income7 2 Tax effect433 5,864       Total other comprehensive loss, net of tax(1,626)(22,059)Comprehensive income$53,713 $25,882 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

6

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

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY  

(Unaudited)

Three Months Ended March 31, 2025Cumulative Preferred StockNon-Cumulative Preferred StockCommon StockAdditionalAccumulatedOtherSharesAmountSharesAmountSharesAmountPaid inCapitalRetainedEarningsComprehensiveLossTotalBalances, December 31, 2024125 $125 10,000 $25,000 57,974,535 $7,247 $1,188,768 $1,272,528 $(188,685)$2,304,983 Comprehensive income:Net income— — — — — — — 55,339 — 55,339 Other comprehensive loss, net of tax — — — — — — — — (1,626)(1,626)Cash dividends on preferred stock ($46.88 per share)— — — — — — — (469)— (469)Cash dividends on common stock ($0.35 per share)— — — — — — — (20,487)— (20,487)Repurchases of common stock— — — — (194,311)(24)(7,881)— — (7,905)Excise tax on stock repurchase— — — — — — (74)— —(74)Share-based compensation— — — — 5,666 1 1,594 — — 1