Company: FRME
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000712534-25-000197
Chunk: 46

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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80039,142465Interest rate lock commitments36,90924915,000140Included in other assets$1,544,223 $50,722 $1,440,899 $77,133 Included in other liabilities:Interest rate swaps$1,583,830 $49,719 $1,486,764 $76,450 Forward contracts related to mortgage loans to be delivered for sale28,5598713,02018Interest rate lock commitments7,2205714,457100Included in other liabilities$1,619,609 $49,863 $1,514,241 $76,568 In the normal course of business, the Corporation may decide to settle a forward contract rather than fulfill the contract.  Cash received or paid in this settlement manner is included in "Net gains and fees on sales of loans" in the Consolidated Condensed Statements of Income and is considered a cost of executing a forward contract.  The amount of gain (loss) recognized into income related to non-designated hedging instruments is included in the table below for the periods indicated.Derivatives Not Designated asHedging Instruments under FASB ASC 815-10Location of Gain (Loss)Recognized Income onDerivativeAmount of Gain (Loss)Recognized into Income onDerivativesThree Months Ended September 30, 2025Three Months Ended September 30, 2024Forward contracts related to mortgage loans to be delivered for saleNet gains and fees on sales of loans$(616)$(966)Interest rate lock commitmentsNet gains and fees on sales of loans(68)30 Total net gain (loss) recognized in income$(684)$(936)Derivatives Not Designated asHedging Instruments under FASB ASC 815-10Location of Gain (Loss)Recognized Income onDerivativeAmount of Gain (Loss)Recognized into Income onDerivativesNine Months Ended September 30, 2025Nine Months Ended September 30, 2024Forward contracts related to mortgage loans to be delivered for saleNet gains and fees on sales of loans$(542)$(573)Interest rate lock commitmentsNet gains and fees on sales of loans151 (15)Total net gain (loss) recognized in income$(391)$(588)

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