Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 105

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 105
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14,979 18,265 15,420 Income before income tax benefit and equity in undistributed income of subsidiaries165,231 113,276 73,387 Income tax benefit(3,311)(4,526)(3,645)Income before equity in undistributed income of subsidiaries168,542 117,802 77,032 Equity in undistributed income of subsidiaries32,860 105,984 145,057 Net income201,402 223,786 222,089 Preferred stock dividends1,875 1,875 1,406 Net income available to common stockholders$199,527 $221,911 $220,683 Net income$201,402 $223,786 $222,089 Other comprehensive income (loss)(12,715)63,181 (294,264)Comprehensive income (loss)$188,687 $286,967 $(72,175)Condensed Statements of Cash Flows December 31, 2024December 31, 2023December 31, 2022Cash Flow From Operating Activities:   Net income$201,402 $223,786 $222,089 Adjustments to reconcile net income to net cash provided by operating activities Share-based compensation2,060 1,803 1,659 Equity in undistributed income of subsidiaries(32,860)(105,984)(145,057)Other adjustments(3,615)(2,446)(5,925)Net cash provided by operating activities166,987 117,159 72,766 Cash Flow From Investing Activities:Net cash and cash equivalents paid in acquisition— — (72,494)Proceeds from business divestitures— 4,852 — Net cash provided (used) by investing activities— 4,852 (72,494)Cash Flow From Financing Activities: Cash dividends on common stock(81,623)(80,061)(72,748)Cash dividends on preferred stock(1,875)(1,875)(1,406)BorrowingsRepayment of borrowings(65,000)— — Stock issued under employee benefit plans656 754 706 Stock issued under dividend reinvestment and stock purchase plan2,261 2,180 2,056 Stock options exercised900 1,110 358 Repurchases of common stock(56,168)— —