FIRST MERCHANTS CORP
For the period ended Sep 30, 2026. Filed Oct 30, 2026.
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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, 2026 · Filed Oct 30, 2026
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
(table dollar amounts in thousands)
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS(Unaudited)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash Flows from Operating Activities: | ||
| Net income | $140,451 | $168,936 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Provision for credit losses | 41,200 | 14,100 |
| Depreciation and amortization | 27,939 | 23,718 |
| Change in deferred taxes | 3,148 | (2,095) |
| Share-based compensation | 5,498 | 4,916 |
| Loans originated for sale | (559,684) | (358,898) |
| Proceeds from sales of loans held for sale | 570,963 | 366,363 |
| Net gains on sales of loans held for sale | (15,963) | (11,992) |
| Net loss on mortgage loans reclassified to held for sale | 29,755 | — |
| Net losses on sales of securities available for sale | — | 8 |
| Increase in cash surrender value of life insurance | (6,545) | (4,667) |
| Gains on life insurance benefits | (1,579) | (1,092) |
| Change in income tax receivable | (15,250) | (4,806) |
| Change in interest receivable | 5,096 | 2,727 |
| Change in interest payable | (7,070) | 2,138 |
| Other adjustments | 7,069 | 3,578 |
| Net cash provided by operating activities | 225,028 | 202,934 |
| Cash Flows from Investing Activities: | ||
| Net change in interest-bearing deposits | (42,059) | 130,185 |
| Purchase of securities available for sale | (15,718) | (10,609) |
| Proceeds from sales of securities available for sale | 251,341 | — |
| Proceeds from maturities and redemptions of: | ||
| Securities available for sale | 43,739 | 47,991 |
| Securities held to maturity | 96,164 | 76,183 |
| Purchases of Federal Home Loan Bank stock | — | (5,644) |
| Redemptions of Federal Home Loan Bank stock | 81 | 70 |
| Redemptions of Federal Reserve Bank stock | 1,863 | — |
| Payment of capital calls to qualified affordable housing investments | (39,455) | (34,969) |
| Net change in loans | (316,713) | (681,224) |
| Proceeds from mortgage portfolio loan sale | 271,069 | — |
| Net cash and cash equivalents received in acquisition | 29,922 | — |
| Proceeds from the sale of other real estate owned | 2,704 | 6,072 |
| Proceeds from life insurance benefits | 5,214 | 4,082 |
| Other adjustments | (13,193) | (5,203) |
| Net cash provided (used) by investing activities | 274,959 | (473,066) |
| Cash Flows from Financing Activities: | ||
| Net change in: | ||
| Demand and savings deposits | 175,577 | 307,586 |
| Certificates of deposit and other time deposits | (231,630) | 40,767 |
| Proceeds from borrowings | 1,414,095 | 854,091 |
| Repayment of borrowings | (1,835,517) | (834,422) |
| Proceeds from issuance of subordinated notes, net of issuance costs | 98,131 | — |
| Cash dividends on preferred stock | (1,406) | (1,406) |
| Cash dividends on common stock | (69,291) | (62,092) |
| Stock issued under employee benefit plans | 538 | 480 |
| Stock issued under dividend reinvestment and stock purchase plans | 1,785 | 1,737 |
| Stock options exercised | 465 | 330 |
| Repurchase of common stock | (50,298) | (36,476) |
| Net cash provided (used) by financing activities | (497,551) | 270,595 |
| Net Change in Cash and Cash Equivalents | 2,436 | 463 |
| Cash and Cash Equivalents, January 1 | 84,158 | 87,616 |
| Cash and Cash Equivalents, September 30 | $86,594 | $88,079 |
| Additional cash flow information: | ||
| Interest paid | $303,183 | $288,261 |
| Income tax paid | 5,401 | 18,397 |
| Loans transferred to other real estate owned | 3,595 | 2,202 |
| Non-cash investing activities using trade date accounting | — | 70,182 |
| ROU assets obtained in exchange for new operating lease liabilities | 12,671 | 692 |
| Qualified affordable housing investments obtained in exchange for funding commitments | 29,000 | 20,000 |
| Reclassification of loans to held for sale | 356,956 | — |
| Reclassification of loans from held for sale to loans | 47,139 | — |
(table dollar amounts in thousands)
| In conjunction with the acquisition, liabilities were assumed as follows: | ||
|---|---|---|
| Fair value of assets acquired | $2,464,488 | $— |
| Cash paid in acquisition | (7) | — |
| Less: Common stock issued | 243,214 | — |
| Liabilities assumed | $2,221,267 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.