FIRST MERCHANTS CORP
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 30, 2025
FRME$41.20-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Condensed Statements of Cash Flows
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS(Unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash Flow from Operating Activities: | ||
| Net income | $168,936 | $137,053 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 14,100 | 31,500 |
| Depreciation and amortization | 23,718 | 10,602 |
| Change in deferred taxes | (2,095) | 3,128 |
| Share-based compensation | 4,916 | 4,191 |
| Loans originated for sale | (358,898) | (775,504) |
| Proceeds from sales of loans held for sale | 366,363 | 773,446 |
| Gains on sales of loans held for sale | (11,992) | (10,508) |
| Net losses on sales and redemptions of securities available for sale | 8 | 9,165 |
| Increase in cash surrender value of life insurance | (4,667) | (4,128) |
| Gains on life insurance benefits | (1,092) | (2,148) |
| Change in interest receivable | 2,727 | 5,585 |
| Change in interest payable | 2,138 | (319) |
| Other adjustments | (1,228) | 16,643 |
| Net cash provided by operating activities | 202,934 | 198,706 |
| Cash Flows from Investing Activities: | ||
| Net change in interest-bearing deposits | 130,185 | 76,954 |
| Purchase of securities available for sale | (10,609) | (93,463) |
| Proceeds from sales of securities available for sale | — | 149,771 |
| Proceeds from maturities and redemptions of: | ||
| Securities available for sale | 47,991 | 33,346 |
| Securities held to maturity | 76,183 | 72,938 |
| Purchases of Federal Home Loan Bank stock | (5,644) | — |
| Redemptions of Federal Home Loan Bank stock | 70 | 53 |
| Payment of capital calls to qualified affordable housing investments | (34,969) | (22,238) |
| Net change in loans | (681,224) | (206,478) |
| Proceeds from the sale of other real estate owned | 6,072 | 325 |
| Proceeds from life insurance benefits | 4,082 | 7,964 |
| Proceeds from mortgage portfolio loan sale | — | 1,716 |
| Proceeds from commercial portfolio loan sale | — | 3,273 |
| Other adjustments | (5,203) | (25,046) |
| Net cash used by investing activities | (473,066) | (885) |
| Cash Flows from Financing Activities: | ||
| Net increase (decrease) in: | ||
| Demand and savings deposits | 307,586 | (308,714) |
| Certificates of deposit and other time deposits | 40,767 | 140,074 |
| Proceeds from borrowings | 854,091 | 551,851 |
| Repayment of borrowings | (834,422) | (499,542) |
| Cash dividends on preferred stock | (1,406) | (1,406) |
| Cash dividends on common stock | (62,092) | (61,146) |
| Stock issued under employee benefit plans | 480 | 511 |
| Stock issued under dividend reinvestment and stock purchase plans | 1,737 | 1,676 |
| Stock options exercised | 330 | 900 |
| Repurchase of common stock | (36,476) | (49,955) |
| Net cash provided (used) by financing activities | 270,595 | (225,751) |
| Net Change in Cash and Cash Equivalents | 463 | (27,930) |
| Cash and Cash Equivalents, January 1 | 87,616 | 112,649 |
| Cash and Cash Equivalents, September 30 | $88,079 | $84,719 |
| Additional cash flow information: | ||
| Interest paid | $288,261 | $327,443 |
| Income tax paid | 18,397 | 6,407 |
| Loans transferred to other real estate owned | 2,202 | 699 |
| Fixed assets transferred to other real estate owned | — | 69 |
| Non-cash investing activities using trade date accounting | 70,182 | 17,749 |
| ROU assets obtained in exchange for new operating lease liabilities | 692 | 6,918 |
| Qualified affordable housing investments obtained in exchange for funding commitments | 20,000 | 40,500 |
| Reclassification of loans and other branch assets to held for sale | — | 13,404 |
| Reclassification of deposits and other branch liabilities to held for sale | — | 288,476 |
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