Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 103

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 103
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 federal income tax liability has been recognized.  If in the future this portion of additional paid-in capital is distributed, or the Corporation no longer qualifies as a bank for income tax purposes, federal income taxes may be imposed at the then applicable tax rate.  The unrecorded deferred tax liability at December 31, 2024, would have been approximately $5.3 million. The Corporation or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction and various state jurisdictions.  The Corporation is generally no longer subject to U.S. federal, state and local income tax examinations by tax authorities for tax years before 2021.  Additional details regarding the Corporation’s policies related to income taxes are discussed in NOTE 1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES of these Notes to Consolidated Financial Statements.

NOTE 20

NET INCOME PER COMMON SHAREBasic net income per common share is computed by dividing net income available to common stockholders by the weighted-average common shares outstanding during the reporting period.  Diluted net income per common share is computed by dividing net income available to common stockholders by the combination of the weighted-average common shares outstanding during the reporting period and all potentially dilutive common shares.  Potentially dilutive common shares include stock options and RSAs issued under the Corporation’s share-based compensation plans.  Potentially dilutive common shares are excluded from the computation of diluted earnings per common share in the periods where the effect would be antidilutive. 

104

PART II: ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATANOTES TO CONSOLIDATED FINANCIAL STATEMENTS(table dollar amounts in thousands, except share data)

The following table reconciles basic and diluted net income per common share for the years indicated: 202420232022 NetIncome Available to Common StockholdersWeighted-Average Common SharesPerShare AmountNetIncome Available to Common StockholdersWeighted-Average Common SharesPerShare AmountNetIncome Available to Common StockholdersWeighted-Average Common SharesPerShare AmountNet income available to common stockholders$199,527 58,312,575 $3.42 $221,911 59,304,879 $3.74 $220,683 57,692,018 $3.83 Effect of potentially dilutive stock options and restricted stock awards 219,990   183,641   258,239  Diluted net income per common share$