Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 131

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 131
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16,081 $79,381 State and municipal996,541 19 133,386 863,174 U.S. Government-sponsored mortgage-backed securities519,943 403 88,724 431,622 Corporate obligations12,960 — 662 12,298 Total available for sale$1,624,906 $422 $238,853 $1,386,475 

 AmortizedCostGross Unrealized GainsGross Unrealized LossesFairValueAvailable for sale at December 31, 2023U.S. Government-sponsored agency securities$111,521 $— $16,214 $95,307 State and municipal1,181,029 364 116,222 1,065,171 U.S. Government-sponsored mortgage-backed securities541,343 462 86,990 454,815 Corporate obligations12,947 — 1,128 11,819 Total available for sale$1,846,840 $826 $220,554 $1,627,112 

15

PART I: ITEM 1. BUSINESS

AmortizedCostGross Unrealized GainsGross Unrealized LossesFairValueAvailable for sale at December 31, 2022US Treasury$2,501 $— $42 $2,459 U.S. Government-sponsored agency securities119,154 — 17,192 101,962 State and municipal1,530,048 438 178,726 1,351,760 U.S. Government-sponsored mortgage-backed securities608,630 1 100,358 508,273 Corporate obligations13,014 — 807 12,207 Total available for sale$2,273,347 $439 $297,125 $1,976,661 

The following table summarizes the amortized cost, gross unrealized gains and losses, approximate fair value and allowance for credit losses on investment securities held to maturity at the dates indicated. 

AmortizedCostAllowance for Credit LossesNet Carrying AmountGross Unrealized GainsGross Unrealized LossesFairValueHeld to maturity at December 31, 2024U.S. Government-sponsored agency securities$345,531 $— $345,531 $— $63,112 $282,419 State and municipal1,085,921 245