Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 173

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 173
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 Home Loan Bank advances798,626 822,554 Subordinated debentures and other borrowings57,632 93,529 Total Borrowings$1,177,854 $1,158,185 

33

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

Securities sold under repurchase agreements consist of obligations of the Bank to other parties and are secured by U.S. Government-sponsored enterprise obligations.  The maximum amount of outstanding agreements at any month-end during the nine months ended September 30, 2025 and 2024 totaled $169.1 million and $194.2 million, respectively, and the average balance of such agreements totaled $137.8 million and $138.1 million during the same period of 2025 and 2024, respectively.The collateral pledged for all repurchase agreements that are accounted for as secured borrowings as of September 30, 2025 and December 31, 2024 were:September 30, 2025Remaining Contractual Maturity of the AgreementsOvernight and ContinuousUp to 30 Days30-90 DaysGreater Than 90 DaysTotalU.S. Government-sponsored mortgage-backed securities$122,226 $— $— $— $122,226 December 31, 2024Remaining Contractual Maturity of the AgreementsOvernight and ContinuousUp to 30 Days30-90 DaysGreater Than 90 DaysTotalU.S. Government-sponsored mortgage-backed securities$142,876 $— $— $— $142,876 Contractual maturities of borrowings as of September 30, 2025, are as follows:Maturities in Years Ending December 31:Federal Funds PurchasedSecurities SoldUnder Repurchase AgreementsFederal HomeLoan BankAdvancesSubordinatedDebentures andTerm Loans2025$199,370 $122,226 $— $1,111 2026— — 75,000 — 2027— — 320,000 — 2028— — 290,000 — 2029— — 50,000 — 2030 and after— — 63,626 60,471 ASC 805 fair value adjustments at acquisition— — — (3