Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 155

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 155
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 average contractual interest rate from 4.50% to 2.50%, extended loans by a weighted average of 68 months, and provided payment deferrals with weighted average delayed amounts of $8.

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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)

Nine Months Ended September 30, 2024Financial Effect of Loan ModificationsPayment DelayTerm ExtensionInterest Rate ReductionCombination Payment Delay & Term ExtensionCombination Interest Rate Reduction & Term ExtensionCombination Interest Rate Reduction, Term Extension & Payment DelayCommercial and industrial loansProvided payment deferrals with weighted average delayed amounts of $180.Extended loans by a weighted average of 9 months.Reduced the weighted average contractual interest rate from 9.00% to 8.00%.Provided payment deferrals with weighted average delayed amounts of $5 and extended loans by a weighted average of 3 months.Reduced the weighted average contractual interest rate from 9.50% to 8.05%. Extended loans by a weighted average of 48 months.Real estate loans:ConstructionExtended loans by a weighted average of 6 months.Provided payment deferrals with weighted average delayed amounts of $475 and extended loans by a weighted average of 4 months.Commercial real estate, non-owner occupiedExtended loans by a weighted average of 13 months.Reduced the weighted average contractual interest rate from 12.38% to 7.88%. Extended loans by a weighted average of 8 months.Commercial real estate, owner occupied Extended loans by a weighted average of 13 months.   ResidentialProvided payment deferrals with weighted average delayed amounts of $26.Extended loans by a weighted average of 20 months.Provided payment deferrals with weighted average delayed amounts of $8 and extended loans by a weighted average of 153 months.Provided payment deferrals with weighted average delayed amounts of $14, extended loans by a weighted average of 91 months, and reduced the weighted average contractual interest rate from 5.74% to 4.03%.Home equityExtended loans by a weighted average of 6 months.Provided payment deferrals with weighted average delayed amounts of $8 and extended loans by a weighted average of 60 months.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. September 30, 202