Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 132

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 132
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1,085,676 299 185,784 900,436 U.S. Government-sponsored mortgage-backed securities641,513 — 641,513 — 102,343 539,170 Foreign investment1,500 — 1,500 — 5 1,495 Total held to maturity$2,074,465 $245 $2,074,220 $299 $351,244 $1,723,520 

AmortizedCostAllowance for Credit LossesNet Carrying AmountGross Unrealized GainsGross Unrealized LossesFairValueHeld to maturity at December 31, 2023U.S. Government-sponsored agency securities$374,002 $— $374,002 $— $64,159 $309,843 State and municipal1,099,201 245 1,098,956 1,625 152,113 948,713 U.S. Government-sponsored mortgage-backed securities709,794 — 709,794 — 99,448 610,346 Foreign investment1,500 — 1,500 — 28 1,472 Total held to maturity$2,184,497 $245 $2,184,252 $1,625 $315,748 $1,870,374 

AmortizedCostAllowance for Credit LossesNet Carrying AmountGross Unrealized GainsGross Unrealized LossesFairValueHeld to maturity at December 31, 2022U.S. Government-sponsored agency securities$392,246 $— $392,246 $— $69,147 $323,099 State and municipal1,117,552 245 1,117,307 647 197,064 921,135 U.S. Government-sponsored mortgage-backed securities776,074 — 776,074 — 113,915 662,159 Foreign investment1,500 — 1,500 — 28 1,472 Total held to maturity$2,287,372 $245 $2,287,127 $647 $380,154 $1,907,865 

In determining the allowance for credit losses on investment securities available for sale that are in an unrealized loss position, the Corporation first assesses whether it intends to sell, or it is more