Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 162

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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 common share calculation(1)47,494 87,287 

(1)    Anti-dilution occurs when the unrecognized compensation cost per share of an RSA exceeds the market price of the Corporation's stock.  

NOTE 13

SEGMENT INFORMATIONThe Corporation has one reportable segment, community banking.  The Corporation’s reportable segment is determined by the Chief Executive Officer, who is the designated chief operating decision maker (“CODM”), based upon information provided about the Corporation’s products and services offered.  The CODM will evaluate the financial performance of the Corporation’s business components by evaluating revenue streams, significant expenses, and budget to actual results in assessing the Corporation’s segment.  The Corporation generates revenue primarily by providing banking services to its customers.  Interest expense, provisions for credit losses and salaries and employee benefits are the significant expenses in the banking operations.  The CODM evaluates performance, allocates resources and makes key operating decisions based on consolidated net income that is reported in the Consolidated Statements of Income.  The measure of segment assets is reported on the Consolidated Balance Sheets as total consolidated assets.  All operations are domestic.

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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)

NOTE 14

GENERAL LITIGATION AND REGULATORY EXAMINATIONSThe Corporation is subject to claims and lawsuits that arise primarily in the ordinary course of business.  Additionally, the Corporation is also subject to periodic examinations by various regulatory agencies.  It is the general opinion of management that the disposition or ultimate resolution of any such routine litigation or regulatory examinations will not have a material adverse effect on the consolidated financial position, results of operations and cash flow of the Corporation.

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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)

NOTE 15

SUBSEQUENT EVENT

In April 2025, the Corporation received $22.0 million in principal payments related to a multi-family construction relationship that was in nonaccrual status as of March 31, 2025.  The payments represented full collection of principal.  

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PART I: FINANCIAL INFORMATIONITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2.  MANAGEMENT’S DISCUSSION AND