Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 48

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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.S. Government-sponsored mortgage-backed securities429,461 — 429,461 — Corporate obligations10,417 — 10,386 31 Derivative assets57,560 — 57,560 — Derivative liabilities56,552 — 56,552 —   Fair Value Measurements Using:December 31, 2024Fair ValueQuoted Prices inActive Markets forIdentical Assets(Level 1)Significant Other Observable Inputs(Level 2)SignificantUnobservableInputs(Level 3)Available for sale securities:    U.S. Government-sponsored agency securities$79,381 $— $79,381 $— State and municipal863,174 — 860,793 2,381 U.S. Government-sponsored mortgage-backed securities431,622 — 431,618 4 Corporate obligations12,298 — 12,267 31 Derivative assets77,133 — 77,133 — Derivative liabilities76,568 — 76,568 — Level 3 ReconciliationThe following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanyingbalance sheets using significant unobservable Level 3 inputs for the three and six months ended June 30, 2025 and 2024.  Available for Sale SecuritiesThree Months EndedSix Months Ended June 30, 2025June 30, 2024June 30, 2025June 30, 2024Balance at beginning of the period$2,182 $3,247 $2,416 $3,310 Included in other comprehensive income16 (21)9 11 Principal payments(2)(2)(229)(97)Ending balance $2,196 $3,224 $2,196 $3,224 There were no gains or losses included in earnings that were attributable to the changes in unrealized gains or losses related to assets orliabilities held at June 30, 2025 or December 31, 2024.Transfers Between LevelsThere were no transfers in or out of Level 3 during the three and six months ended June 30, 2025 and 2024.

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

Nonrecurring Measurements