Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 36

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 months, and reduced the weighted average contractual interest rate from 5.75% to 5.00%.Home equityProvided payment deferrals with weighted average delayed amounts of $4.Extended loans by a weighted average of 5 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. June 30, 2025Current30-59 Days Past Due60-89 Days Past Due90+ Days Past DueTotalCommercial and industrial loans$14,186 $2,831 $448 $501 $17,966 Agricultural land, production and other loans to farmers2,194 — — — 2,194 Real estate loans:Construction6,425 — — — 6,425 Commercial real estate, non-owner occupied58,364 — — — 58,364 Commercial real estate, owner occupied2,153 — — 3,573 5,726 Residential3,717 576 412 702 5,407 Home equity138 — — — 138 Total$87,177 $3,407 $860 $4,776 $96,220 June 30, 2024Current30-59 Days Past Due60-89 Days Past Due90+ Days Past DueTotalCommercial and industrial loans$6,150 $125 $— $— $6,275 Real estate loans:Commercial real estate, non-owner occupied19,488 — 1,799 — 21,287 Commercial real estate, owner occupied1,990 — — — 1,990 Residential1,219 538 — 1,188 2,945 Home equity224 89 — — 313 Total$29,071 $752 $1,799 $1,188 $32,810 During the six months ended June 30, 2025 and 2024, there were payment defaults of $4.8 million and $1.2 million, respectively, on loans to borrowers whose loans were modified due to financial difficulties within the previous twelve months. The payment defaults did not materially impact the allowance