Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 263

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 263
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 from December 31, 2024.  Securities classified as held to maturity that are maturing within a short period of time can also be a source of liquidity.  Securities classified as held to maturity and that are maturing in one year or less totaled $4.9 million at June 30, 2025.  In addition, other types of assets such as cash and interest-bearing deposits with other banks, federal funds sold and loans maturing within one year are sources of liquidity.

The most stable source of liability-funded liquidity for both the long-term and short-term is deposit growth and retention in the core deposit base.  Federal funds purchased and securities sold under agreements to repurchase are also considered a source of liquidity.  In addition, FHLB advances and Federal Reserve Discount Window borrowings are utilized as a funding source.  At June 30, 2025, total borrowings from the FHLB were $898.7 million and there were no outstanding borrowings from the Federal Reserve Discount Window.  The Bank has pledged certain mortgage loans and investments to the FHLB and Federal Reserve.  The total available remaining borrowing capacity from the FHLB and Federal Reserve at June 30, 2025 was $689.2 million and $5.1 billion, respectively.

The following table presents the Corporation's material cash requirements from known contractual and other obligations at June 30, 2025:

Payments Due In(Dollars in Thousands)One Year or LessOver One YearTotalDeposits without stated maturity$12,783,354 $— $12,783,354 Certificates and other time deposits1,665,778 348,446 2,014,224 Securities sold under repurchase agreements114,758 — 114,758 Federal Home Loan Bank advances100,000 798,702 898,702 Federal Funds Purchased85,000 — 85,000 Subordinated debentures and other borrowings1,298 61,319 62,617 Total$14,750,188 $1,208,467 $15,958,655 

Also, in the normal course of business, the Bank is a party to a number of other off-balance sheet activities that contain credit, market and operational risk that are not reflected in whole or in part in our consolidated financial statements.  These activities primarily consist of traditional off-balance sheet credit-related financial instruments such as