Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 1

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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ILITIESSTOCKHOLDERS' EQUITYCumulative Preferred Stock, $1,000 par value, $1,000 liquidation value:Authorized - 600 cumulative sharesIssued and outstanding - 125 cumulative shares125 125 Preferred Stock, Series A, no par value, $2,500 liquidation preference:Authorized - 10,000 non-cumulative perpetual sharesIssued and outstanding - 10,000 non-cumulative perpetual shares25,000 25,000 Common Stock, $0.125 stated value:Authorized - 100,000,000 sharesIssued and outstanding - 57,272,433 and 57,974,535 shares7,159 7,247 Additional paid-in capital1,163,170 1,188,768 Retained earnings1,342,473 1,272,528 Accumulated other comprehensive loss(189,975)(188,685)Total Stockholders' Equity2,347,952 2,304,983 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$18,592,777 $18,311,969 

See NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS.

4

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

CONSOLIDATED CONDENSED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended June 30,Six Months Ended June 30, 2025202420252024INTEREST INCOME    Loans receivable:  Taxable$195,173 $201,413 $382,901 $399,436 Tax exempt10,805 8,430 21,337 16,620 Investment securities:   Taxable8,266 9,051 16,638 17,799 Tax exempt12,516 13,613 25,033 27,224 Deposits with financial institutions1,892 2,995 4,264 9,488 Federal Home Loan Bank stock1,083 879 2,080 1,714 Total Interest Income229,735 236,381 452,253 472,281 INTEREST EXPENSE    Deposits84,241 99,151 164,788 197,436 Federal funds purchased965