Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 167

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 167
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 not affect the other input.Fair Value of Financial InstrumentsThe following tables present estimated fair values of the Corporation’s financial instruments not carried at fair value and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2025 and December 31, 2024.June 30, 2025Quoted Prices in Active Marketsfor IdenticalAssetsSignificantOtherObservableInputsSignificant UnobservableInputsCarrying Amount(Level 1)(Level 2)(Level 3)Total Fair ValueAssets:Cash and due from banks$81,567 $81,567 $— $— $81,567 Interest-bearing deposits223,343 223,343 — — 223,343 Investment securities held to maturity, net of allowance for credit losses2,022,826 — 1,682,022 5,218 1,687,240 Loans held for sale28,783 — 28,783 — 28,783 Net loans13,101,443 — — 12,938,362 12,938,362 Federal Home Loan Bank stock47,290 — 47,290 — 47,290 Interest receivable93,258 — 93,258 — 93,258 Liabilities:Deposits$14,797,578 $12,783,354 $2,009,119 $— 14,792,473 Borrowings:Securities sold under repurchase agreements114,758 — 114,750 — 114,750 Federal Home Loan Bank advances898,702 — 902,797 — 902,797 Subordinated debentures and other borrowings62,617 — 58,539 — 58,539 Interest payable16,174 — 16,174 — 16,174 

31

PART I. FINANCIAL INFORMATION ITEM 1. NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS(table dollar amounts in thousands, except share data)(Unaudited)

December 31, 2024Quoted Prices in Active Marketsfor IdenticalAssetsSignificantOtherObservableInputsSignificant UnobservableInputsCarrying Amount(Level 1)(Level 2)(Level 3)Total Fair ValueAssets:Cash and due from banks$87,616 $87,616 $— $—