Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 9

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 receivable and other assets21 Total Assets$11,083 LiabilitiesDeposits$267,448 Interest payable and other liabilities692 Total Liabilities$268,140 

NOTE 3

INVESTMENT SECURITIESThe following tables summarize the amortized cost, gross unrealized gains and losses and approximate fair value of investment securities available for sale as of March 31, 2025 and December 31, 2024.AmortizedCostGross Unrealized GainsGross Unrealized LossesFairValueAvailable for sale at March 31, 2025    U.S. Government-sponsored agency securities$93,758 $— $13,832 $79,926 State and municipal994,697 56 149,570 845,183 U.S. Government-sponsored mortgage-backed securities517,564 996 77,614 440,946 Corporate obligations12,964 — 530 12,434 Total available for sale$1,618,983 $1,052 $241,546 $1,378,489 AmortizedCostGross Unrealized GainsGross Unrealized LossesFairValueAvailable for sale at December 31, 2024U.S. Government-sponsored agency securities$95,462 $— $16,081 $79,381 State and municipal996,541 19 133,386 863,174 U.S. Government-sponsored mortgage-backed securities519,943 403 88,724 431,622 Corporate obligations12,960 — 662 12,298 Total available for sale$1,624,906 $422 $238,853 $1,386,475 

10

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

The following tables summarize the amortized cost, gross unrealized gains and losses, approximate fair value and allowance for credit losses on investment securities held to maturity as of March 31, 2025 and December 31, 2024.AmortizedCostAllowance for Credit LossesNet Carrying AmountGross Unrealized GainsGross Unrealized LossesFairValueHeld to maturity at March 31, 2025U.S. Government-sponsored agency securities$341,245 $— $341,245