Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 188

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 188
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PART II: ITEM 7. AND ITEM 7A. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The historical consolidated financial data discussed below reflects our historical results of operations and financial condition and should be read in conjunction with our financial statements and related notes thereto presented in Item 8 of this Annual Report on Form 10-K.  In addition to historical financial data, this discussion includes certain forward-looking statements regarding events and trends that may affect our future results.  Such statements are subject to risks and uncertainties that could cause our actual results to differ materially.  See our cautionary “Statement Regarding Forward-Looking Statements.”  For a more complete discussion of the factors that could affect our future results, see “Risk Factors” under Item 1A of this Annual Report on Form 10-K.

OVERVIEW

First Merchants Corporation (the “Corporation”) is a financial holding company headquartered in Muncie, Indiana and was organized in September 1982.  The Corporation’s common stock is traded on the Nasdaq’s Global Select Market System under the symbol FRME.  The Corporation conducts its banking operations through First Merchants Bank (the “Bank”), a wholly-owned subsidiary that opened for business in Muncie, Indiana, in March 1893.  The Bank also operates First Merchants Private Wealth Advisors (a division of First Merchants Bank).  The Bank includes 110 banking locations in Indiana, Ohio, and Michigan.  In addition to its branch network, the Corporation offers comprehensive electronic and mobile delivery channels to its customers.  The Corporation’s business activities are currently limited to one significant business segment, which is community banking.

Through the Bank, the Corporation offers a broad range of commercial and consumer banking services to meet the diverse needs of our customers.  Our commercial banking team offers a full spectrum of debt capital, treasury management services and depository products.  The consumer banking group offers a variety of consumer deposit and lending products.  The mortgage banking team offers consumer mortgage solutions to assist with the purchase, refinance, construction or renovation of residential properties.  Private Wealth Advisors offers personal wealth management services with expertise in investment management, private banking, fiduciary estate and financial planning.

HIGHLIGHTS FOR 2024

•Net income available to common stockholders for the year ended December 31, 2024 was $199.