Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 254

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 254
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,967,738 12.89 1,602,417 10.50 $1,526,112 10.00 %Tier 1 capital to risk-weighted assetsFirst Merchants Corporation$1,767,468 11.59 %$1,296,189 8.50 %N/AN/AFirst Merchants Bank1,776,738 11.64 1,297,195 8.50 $1,220,889 8.00 %Common equity tier 1 capital to risk-weighted assetsFirst Merchants Corporation$1,742,468 11.43 %$1,067,450 7.00 %N/AN/AFirst Merchants Bank1,776,738 11.64 1,068,278 7.00 $991,973 6.50 %Tier 1 capital to average assetsFirst Merchants Corporation$1,767,468 9.96 %$710,089 4.00 %N/AN/AFirst Merchants Bank1,776,738 9.92 716,172 4.00 $895,215 5.00 %

On November 1, 2013, the Corporation completed the private issuance and sale to four institutional investors of an aggregate of $70.0 million of debt comprised of (a) 5.00 percent Fixed-to-Floating Rate Senior Notes due 2028 in the aggregate principal amount of $5.0 million and (b) 6.75 percent Fixed-to-Floating Rate Subordinated Notes due October 30, 2028 in the aggregate principal amount of $65.0 million.  The Corporation exercised its right to redeem $65.0 million of the subordinated debt on the scheduled interest payment date during the first half of 2024. On June 9, 2025, the Corporation, through its trustee, distributed notice of redemption of the remaining $5.0 million in principal amount of its 5.00 percent Fixed-to-Floating Senior Notes due October 30, 2028. The Corporation exercised its right to redeem the $5.0 million of the Senior Notes on the scheduled interest payment date of July 30, 2025. 

On April 1, 2022, the Corporation assumed $30.0 million of subordinated notes in conjunction with its acquisition of Level One.  On February 14, 202