Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 9

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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Net change in loans(457,029)(171,915)Proceeds from the sale of other real estate owned5,724 274 Proceeds from life insurance benefits3,303 3,443 Proceeds from mortgage portfolio loan sale— 1,716 Proceeds from commercial portfolio loan sale— 3,273 Other adjustments(1,951)(28,469)Net cash provided (used) by investing activities(329,736)67,294 Cash Flows from Financing Activities:Net change in:Demand and savings deposits280,535 (385,455)Certificates of deposit and other time deposits(4,583)133,072 Borrowings682,194 427,348 Repayment of borrowings(679,302)(282,152)Cash dividends on preferred stock(938)(938)Cash dividends on common stock(41,288)(40,622)Stock issued under employee benefit plans317 343 Stock issued under dividend reinvestment and stock purchase plans1,140 1,101 Stock options exercised237 812 Repurchase of common stock(30,000)(49,955)Net cash provided (used) by financing activities208,312 (196,446)Net Change in Cash and Cash Equivalents(6,049)(7,277)Cash and Cash Equivalents, January 187,616 112,649 Cash and Cash Equivalents, June 30$81,567 $105,372 Additional cash flow information:Interest paid$188,897 $217,005 Income tax paid13,062 5,300 Loans transferred to other real estate owned643 211 Non-cash investing activities using trade date accounting6,745 28,805 ROU assets obtained in exchange for new operating lease liabilities388 5,588 Qualified affordable housing investments obtained in exchange for funding commitments20,000 40,000 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

9

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

NOTE 1  

GENERALFinancial Statement PreparationThe Consolidated Condensed Balance Sheet of the Corporation as of December 31, 2024, has been derived from the audited consolidated balance sheet of the Corporation as of that date.  Certain information and note disclosures