Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 1

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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COMMITMENTS AND CONTINGENT LIABILITIESSTOCKHOLDERS' EQUITYCumulative Preferred Stock, $1,000 par value, $1,000 liquidation value:  Authorized - 600 cumulative shares  Issued 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 shares  Issued and outstanding - 57,810,232 and 57,974,535 shares7,226 7,247 Additional paid-in capital1,183,263 1,188,768 Retained earnings1,306,911 1,272,528 Accumulated other comprehensive loss(190,311)(188,685)Total Stockholders' Equity2,332,214 2,304,983 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$18,439,787 $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 March 31, 20252024INTEREST INCOME  Loans receivable:Taxable$187,728 $198,023 Tax exempt10,532 8,190 Investment securities: Taxable8,372 8,748 Tax exempt12,517 13,611 Deposits with financial institutions2,372 6,493 Federal Home Loan Bank stock997 835 Total Interest Income222,518 235,900 INTEREST EXPENSE  Deposits80,547 98,285 Federal funds purchased812 — Securities sold under repurchase agreements742 1,032 Federal Home Loan Bank advances9,364 6,773 Subordinated debentures and other borrowings783 2,747 Total Interest Expense92,248 108,837 NET INTEREST INCOME130,270