Company: FRME
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000712534-25-000058
Chunk: 104

Company: FIRST MERCHANTS CORP
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 104
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199,527 58,532,565 $3.41 $221,911 59,488,520 $3.73 $220,683 57,950,257 $3.81 RSAs excluded from the diluted average common share calculation (1)92,175 69,421 39,830 (1)    Anti-dilution occurs when the unrecognized compensation cost per share of an RSA exceeds the market price of the Corporation's stock.  As of December 31, 2024, 2023 and 2022, there were no stock options with an option price greater than the average market price of the common shares.

NOTE 21

CONDENSED FINANCIAL INFORMATION (parent company only)Presented below is condensed financial information as to financial position, results of operations, and cash flows of the Corporation. Condensed Balance SheetsDecember 31, 2024December 31, 2023Assets  Cash and due from banks$66,996 $100,858 Investment in subsidiaries2,315,701 2,291,788 Other assets12,834 10,250 Total assets$2,395,531 $2,402,896 Liabilities Subordinated debentures and other borrowings$85,232 $150,174 Interest payable329 1,383 Other liabilities4,987 3,626 Total liabilities90,548 155,183 Stockholders' equity2,304,983 2,247,713 Total liabilities and stockholders' equity$2,395,531 $2,402,896 

105

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

Condensed Statements of Income and Comprehensive Income (Loss)December 31, 2024December 31, 2023December 31, 2022IncomeDividends from subsidiaries$180,000 $131,525 $90,500 Other income210 16 (1,693)Total income180,210 131,541 88,807 ExpensesInterest expense6,803 10,164 8,005 Salaries and employee benefits4,536 4,406 3,786 Other expenses3,640 3,695 3,629 Total expenses