Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 52

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 2024, the Corporation's outstanding principal balance under the Credit Facility was zero and the Corporation was in compliance with all covenants.

32

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

NOTE 9

ACCUMULATED OTHER COMPREHENSIVE LOSSThe following table summarizes the changes in the balances of each component of accumulated other comprehensive loss, net of tax, as of March 31, 2025 and 2024:Accumulated Other Comprehensive LossUnrealized Gains (Losses) on Securities Available for SaleUnrealized Gains (Losses) on Defined Benefit PlansTotalBalance at December 31, 2024$(188,412)$(273)$(188,685)Other comprehensive loss before reclassifications(1,632)— (1,632)Amounts reclassified from accumulated other comprehensive loss6 — 6 Period change(1,626)— (1,626)Balance at March 31, 2025$(190,038)$(273)$(190,311)Balance at December 31, 2023$(173,654)$(2,316)$(175,970)Other comprehensive loss before reclassifications(22,061)— (22,061)Amounts reclassified from accumulated other comprehensive loss2 — 2 Period change(22,059)— (22,059)Balance at March 31, 2024$(195,713)$(2,316)$(198,029)The following tables present the reclassification adjustments out of accumulated other comprehensive loss that were included in net income in the Consolidated Condensed Statements of Income for the three months ended March 31, 2025 and 2024. Amount Reclassified from Accumulated Other Comprehensive Loss For the Three Months Ended March 31,Details about Accumulated Other Comprehensive Loss Components20252024Affected Line Item in the Statements of IncomeUnrealized gains (losses) on available for sale securities (1)Realized securities gains (losses) reclassified into income$(7)$(2)Other income - net realized gains (losses) on sales of available for sale securitiesRelated income tax benefit (expense)1 — Income tax expenseTotal reclassifications for the period, net of tax$(6)$(2)(1)  For additional detail related