Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 0

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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PART I. FINANCIAL INFORMATION ITEM 1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS(table dollar amounts in thousands, except share data)

CONSOLIDATED CONDENSED BALANCE SHEETS

September 30,2025December 31,2024(Unaudited)ASSETSCash and due from banks$88,079 $87,616 Interest-bearing deposits168,706 298,891 Investment securities available for sale1,386,903 1,386,475 Investment securities held to maturity, net of allowance for credit losses of $245 and $245 (fair value of $1,707,064 and $1,723,520)1,995,488 2,074,220 Loans held for sale23,190 18,663 Loans13,591,174 12,854,359 Less: Allowance for credit losses - loans(194,468)(192,757)Net loans13,396,706 12,661,602 Premises and equipment121,771 129,743 Federal Home Loan Bank stock47,264 41,690 Interest receivable89,102 91,829 Goodwill712,002 712,002 Other intangibles15,298 19,828 Cash surrender value of life insurance306,583 304,906 Other real estate owned1,270 4,948 Tax asset, deferred and receivable89,758 92,387 Other assets369,509 387,169 TOTAL ASSETS$18,811,629 $18,311,969 LIABILITIESDeposits:Noninterest-bearing$2,100,570 $2,325,579 Interest-bearing12,769,409 12,196,047 Total Deposits14,869,979 14,521,626 Borrowings:Federal funds purchased199,370 99,226 Securities sold under repurchase agreements122,226 142,876 Federal Home Loan Bank advances798,626 822,554 Subordinated debentures and other borrowings57,632 93,529 Total Borrowings1,177,854 1,158,185 Interest payable18,240 16,102 Other liabilities333,154 311,073 Total Liabilities16,399,227 16,006,986 COMMITMENTS AND CONTINGENT