Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 55

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 55
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 loans by a weighted average of 12 months.ResidentialProvided payment deferrals with weighted average delayed amounts of $23,000.Extended loans by a weighted average of 11 months.Provided payment deferrals with weighted average delayed amounts of $8,000. Extended loans by a weighted average of 152 months.Reduced the weighted average contractual interest rate from 8.00% to 6.00%. Extended loans by a weighted average of 120 months.Reduced the weighted average contractual interest rate from 5.74% to 4.02%. Extended loans by a weighted average of 90 months. Provided payment deferrals with weighted average delayed amounts of $13,000. Home equityExtended loans by a weighted average of 5 months.Provided payment deferrals with weighted average delayed amounts of $7,800. Extended loans by a weighted average of 60 months.

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PART II: ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATANOTES TO CONSOLIDATED FINANCIAL STATEMENTS(table dollar amounts in thousands, except share data)

Year Ended December 31, 2023Financial Effect of Loan ModificationsPayment DelayTerm ExtensionCombination Payment Delay & Term ExtensionCombination Interest Rate Reduction & Term ExtensionCommercial and industrial loansProvided payment deferrals with weighted average delayed amounts of $24,000.Extended loans by a weighted average of 10 months.Reduced the weighted average contractual interest rate from 9.67% to 7.39%. Extended loans by a weighted average of 13 months.Agricultural land, production and other loans to farmersExtended loans by a weighted average of 144 months.Real estate loans:ConstructionExtended loans by a weighted average of 24 months.Commercial real estate, non-owner occupiedExtended loans by a weighted average of 11 months.Reduced the weighted average contractual interest rate from 8.57% to 7.89%. Extended loans by a weighted average of 34 months.Commercial real estate, owner occupiedProvided payment deferrals with weighted average delayed amounts of $4.5 million.Extended loans by a weighted average of 6 months.Reduced the weighted average contractual interest rate from 10.25% to 6.61%. Extended loans by a weighted average of 114 months.ResidentialExtended loans by a weighted average of 6 months.Provided payment deferrals with weighted average delayed amounts of $3,400. Extended loans by a weighted average of 3 months.Home equityExtended loans by a weighted average of 7 months.Reduced the