Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 180

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 180
---
, 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

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.

NOTE 15

SUBSEQUENT EVENTOn July 30, 2025, the Corporation redeemed $5.0 million in principal amount of its 5.00 percent Fixed-to-Floating Rate Senior Notes Due 2028, dated November 1, 2013. The interest rate on the Senior Debt remained fixed for the first ten (10) years and converted to floating on October 30, 2023 and had an interest rate of 6.87 percent as of June 30, 2025. For additional detail related to this Senior Debt, see NOTE 8. BORROWINGS of these Notes to Consolidated Condensed Financial Statements. The redemption was permitted under the optional redemption provisions of the Senior Note Certificate representing the Senior Debt. Following the redemption, no principal amount remains outstanding related to this Senior Debt issuance.

38

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

ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FORWARD-LOOKING STATEMENTS

From time to time, we include forward-looking statements in our oral and written communication.  We may include forward-looking statements in filings with the Securities and Exchange Commission, such as this Quarterly Report on Form 10-Q, in other written materials and in oral statements made by senior management to analysts, investors, representatives of the media and others.  We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we are including this statement