Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 135

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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 share data)(Unaudited)

Three Months Ended March 31, 2024Loan Modifications Made to Borrowers Experiencing Financial DifficultyPayment DelayTerm ExtensionInterest Rate ReductionCombination Payment Delay & Term Extension% of Total Class of Financing ReceivableCommercial and industrial loans$1,542 $2,798 $250 $14 0.12 %Real estate loans:Commercial real estate, owner occupied— 190 — — 0.02 %Residential1,617 — — — 0.07 %Home equity90 266 — — 0.06 %Total$3,249 $3,254 $250 $14 The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three months ended March 31, 2025 and 2024. Three Months Ended March 31, 2025Financial Effect of Loan ModificationsPayment DelayTerm ExtensionCommercial and industrial loans  Extended loans by a weighted average of 3 months.Real estate loans:ConstructionExtended loans by a weighted average of 5 months.Commercial real estate, owner occupiedExtended loans by a weighted average of 3 months.ResidentialProvided payment deferrals with weighted average delayed amounts of $6.   Three Months Ended March 31, 2024Financial Effect of Loan ModificationsPayment DelayTerm ExtensionInterest Rate ReductionCombination Payment Delay & Term ExtensionCommercial and industrial loansProvided payment deferrals with weighted average delayed amounts of $50.Extended loans by a weighted average of 15 months.Reduced the weighted average contractual interest rate from 9.00% to 8.00%.Provided payment deferrals with weighted average delayed amounts of $5. Extended loans by a weighted average of 3 months.Real estate loans:Commercial real estate, owner occupiedExtended loans by a weighted average of 5 months.ResidentialProvided payment deferrals with weighted average delayed amounts of $31.Home equityProvided payment deferrals with weighted average delayed amounts of $4.Extended loans by a weighted average of 6 months.

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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)

The Corporation closely monitors the performance of financial difficulty modifications to understand the effectiveness of its efforts. The following tables present the performance of financial difficulty modifications in the twelve months following modification. March 31, 202