Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 35

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 35
---
 provision expense of $4.2 million was recorded during the three months ended March 31, 2025.  The following tables summarize changes in the allowance for credit losses by loan segment for the three months ended March 31, 2025 and 2024:Three Months Ended March 31, 2025CommercialCommercial Real EstateConstructionConsumer & ResidentialTotalAllowance for credit losses - loansBalances, December 31, 2024$94,757 $51,099 $9,784 $37,117 $192,757 Provision for credit losses - loans9,154 (4,367)1,757 (2,344)4,200 Recoveries on loans938 5 — 313 1,256 Loans charged off(4,867)(401)— (914)(6,182)Balances, March 31, 2025$99,982 $46,336 $11,541 $34,172 $192,031 Three Months Ended March 31, 2024CommercialCommercial Real EstateConstructionConsumer & ResidentialTotalAllowance for credit losses - loansBalances, December 31, 2023$97,348 $44,048 $24,823 $38,715 $204,934 Provision for credit losses - loans3,145 1,528 (4,454)1,781 2,000 Recoveries on loans551 53 — 296 900 Loans charged off(1,831)(351)— (971)(3,153)Balances, March 31, 2024$99,213 $45,278 $20,369 $39,821 $204,681 

23

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

Off-Balance Sheet Arrangements, Commitments And ContingenciesIn the normal course of business, the Corporation has entered into off-balance sheet financial instruments which include commitments to extend credit and standby letters of credit.  Commitments to extend credit are usually the result of lines of credit granted to existing borrowers under agreements that the total outstanding indebtedness will not exceed a specific amount during the term of the indebtedness.  Typical borrowers are commercial customers that use lines of credit