Company: FRME
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000712534-25-000171
Chunk: 16

Company: FIRST MERCHANTS CORP
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---
U.S. Government-sponsored mortgage-backed securities (1)Foreign investmentTotalCredit Rating:Aaa$345,531 $120,801 $641,513 $— $1,107,845 Aa1— 148,923 — — 148,923 Aa2— 184,341 — — 184,341 Aa3— 185,166 — — 185,166 A1— 65,665 — — 65,665 A2— 20,317 — — 20,317 Non-rated— 360,708 — 1,500 362,208 Total$345,531 $1,085,921 $641,513 $1,500 $2,074,465 (1) U.S. Government agency securities and U.S. Government mortgage-backed securities are included within the Aaa credit rating category due to their explicit or implicit government guarantees, which provide a high level of assurance regarding the timely collection of principal and interest payments.The following tables summarize, as of June 30, 2025 and December 31, 2024, investment securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security type and length of time in a continuous unrealized loss position.Less than 12 Months12 Months or LongerTotalFairValueGrossUnrealizedLossesFairValueGrossUnrealizedLossesFairValueGrossUnrealizedLossesInvestment securities available for sale at June 30, 2025U.S. Government-sponsored agency securities$— $— $78,239 $13,346 $78,239 $13,346 State and municipal9,675 580 828,677 151,684 838,352 152,264 U.S. Government-sponsored mortgage-backed securities43,049 512 315,870 74,616 358,919 75,128 Corporate obligations— — 10,386 550 10,386 550 Total investment securities available for sale$52,724 $1,092 $1,233,172 $240,196 $1,285,896 $241,288  Less than 12 Months12 Months or LongerTotalFairValueGrossUnrealizedLossesFairValueGrossUnrealized