Company: FRME
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000712534-25-000117
Chunk: 140

Company: FIRST MERCHANTS CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 140
---
 fact that the loans are of smaller individual amounts and spread over a large number of borrowers.

22

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

The ACL - Loans decreased $0.7 million during the three months ended March 31, 2025.  Net charge-offs totaled $4.9 million and 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)