Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 2

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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127,063 Provision for credit losses4,200 2,000 NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES126,070 125,063 NONINTEREST INCOME  Service charges on deposit accounts8,072 7,907 Fiduciary and wealth management fees8,644 8,200 Card payment fees4,526 4,500 Net gains and fees on sales of loans5,022 3,254 Derivative hedge fees404 263 Other customer fees415 427 Earnings on cash surrender value of life insurance2,179 1,592 Net realized losses on sales of available for sale securities(7)(2)Other income793 497 Total Noninterest Income30,048 26,638 NONINTEREST EXPENSES  Salaries and employee benefits54,982 58,293 Net occupancy7,216 7,312 Equipment7,008 6,226 Marketing1,353 1,198 Outside data processing fees5,929 6,889 Printing and office supplies347 353 Intangible asset amortization1,526 1,957 FDIC assessments3,648 4,287 Other real estate owned and foreclosure expenses600 534 Professional and other outside services3,261 3,952 Other expenses7,032 5,934 Total Noninterest Expenses92,902 96,935 INCOME BEFORE INCOME TAX63,216 54,766 Income tax expense7,877 6,825 NET INCOME55,339 47,941 Preferred stock dividends469 469 NET INCOME AVAILABLE TO COMMON STOCKHOLDERS$54,870 $47,472 Per Share Data:  Basic Net Income Available to Common Stockholders$0.95 $0.80 Diluted Net Income Available to Common Stockholders$0.94 $0.80 Cash Dividends Paid$0.35 $0.34 Average Diluted Common Shares Outstanding (in thousands)58,242 59,273 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

5

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

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE